HomeMy WebLinkAboutFY20 Annual Comprehensive Financial Report
City of Colleyville, Texas
Comprehensive Annual Financial Report
For the Fiscal Year Ended September 30, 2020
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, 2020
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 1 106
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 9 116
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
March 2, 2021
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, 2020, 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, 2020, 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, 2020, 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.
The City Manager is responsible for carrying out the policies and ordinances of the Mayor and Council,
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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 82 residential building permits and the average appraised value
of a residential property was $598,244. The City also issued 69 certificates of occupancy for new, remodeled,
and expanding businesses.
In fiscal year 2020, commercial developments continued to bring new tenants and sales tax dollars to Colleyville
including:
Montclair Event Venue
Ohana Hawaiian BBQ & Poke
Desserts RX
Fit Factory
D1 Training
Soul Sweat Hot Yoga
Kasai Hibachi Sushi & Bar
Ruggeri’s Ristorante (new location)
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Stonehouse Restaurant
The Cajun Market (previously T-Johnny’s Cajun Market)
Colleyville Business Center
In addition to these new businesses and tenants, Colleyville expects to see the following developments in the near
future:
A new office warehouse building development is currently under construction on John McCain Rd near
Colleyville Blvd
A new commercial strip center is nearing completion at the intersection of Glade Road and Heritage
Avenue to include Spenga Gym and Smoothie Factory
From Across the Pond is relocating to Colleyville in the Tara Village shopping center and will serve
British food and drinks
A popular children’s clothing resale shop, Once Upon A Child, is locating in the shopping center adjacent
to Albertson’s
Infrastructure projects completed in fiscal year 2020 include the rehabilitation of the McPherson and Bransford
Road Water Towers. Additionally, over 7 lane miles were resurfaced in 2020, including:
Beverly Drive
Curtis Road
Herbert Road
Leta Lane
Shelton Drive
Suellen Court
Bogart Drive
Cherry Lane
Jim Mitchell (East and West)
Lloyd Circle
Maranatha Court
Rose Street
Thompson Terrace
Projects nearing completion are the roundabouts at the intersections of McDonwell School Road and Westcoat
Drive and John McCain and Westcoat Drive, trail segments along John McCain Road, as well as an upgrade to
the SCADA system. Projects in construction include Glade Road and Pleasant Run (John McCain to the North
City Limit). Infrastructure projects commencing at the beginning of 2021 include Cheek-Sparger (Brown Trail to
San Bar), L.D. Lockett Right Turn Lane, and Water Project 10.
For the Future. Future infrastructure and street rehabilitation projects scheduled include sidewalk/trail
construction (grant-funded), Bransford Road Trail improvements, Pleasant Run Road rehabilitation, LD Locket
rehabilitation and right lane turn design, Woodbriar Estate Water Line rehabilitation, Quails Path wastewater
renewal and road rehabilitation, Glade Road waterline construction, 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 2020, 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, 2019. This was the 31st 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
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Colleyville
Texas
For its Comprehensive Annual
Financial Report
For the Fiscal Year Ended
September 30, 2019
Executive Director/CEO
x
xi
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CITY OF COLLEYVILLLE, TEXAS
HOME RULE, COUNCIL – MANAGER
FORM OF GOVERNMENT
CITY OFFICIALS
YEAR ENDED SEPTEMBER 30, 2020
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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Weaver and Tidwell, L.L.P.
2300 North Field Street, Suite 1000 | Dallas, Texas 75201
Main: 972.490.1970
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, 2020, 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, 2020, 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
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, 2021, 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, 2021
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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, 2020.
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 plus the deferred outflows of resources of the City of Colleyville exceeded its liabilities
plus the deferred inflows of resources as of September 30, 2020, by $218,530,850 (net position). Of
this amount, $59,919,264 (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 $6,879,191 from FY 2020 operations.
As of the close of the current fiscal year, the City of Colleyville’s governmental funds reported
combined ending fund balances of $45,315,428
As of September 30, 2020, unreserved, unassigned fund balance for the General Fund was
$7,739,043, or 36.45% 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 plus deferred outflows of resources exceeded liabilities plus
the deferred inflows of resources by $218,530,850 as of September 30, 2020.
The largest portion of the City’s net position ($150,901,649) reflects its investments in capital assets (e.g.,
land, building, equipment, improvements, construction in progress and infrastructure), less any
outstanding debt used to acquire those assets. The City uses these capital assets to provide service to
citizens; consequently, these assets are not available for future spending. Although the City’s investment
in its capital assets is reported net of related debt, it should be noted that the resources needed to repay
this debt must be provided from other sources, since the capital assets themselves cannot be used to
liquidate these liabilities.
City of Colleyville’s Net Position
2020 2019 2020 2019 2020 2019
Current and other assets 47,487,196$ 46,754,575$ 26,182,420$ 26,827,955$ 73,669,616$ 73,582,530$
Capital assets, net 115,042,547 111,134,567 44,435,848 42,900,760 159,478,395 154,035,327
Total assets 162,529,743 157,889,142 70,618,268 69,728,715 233,148,011 227,617,857
Deferred outflows of
resources 2,139,548 4,168,228 279,052 571,450 2,418,600 4,739,678
Current liabilities 1,786,959 2,077,934 1,744,555 2,287,107 3,531,514 4,365,041
Long-term liabilities 11,071,174 15,381,846 424,142 913,141 11,495,316 16,294,987
Total liabilities 12,858,133 17,459,780 2,168,697 3,200,248 15,026,830 20,660,028
Deferred inflows of
resources 1,755,802 40,068 253,129 5,780 2,008,931 45,848
Net position
Net Investment in
capital assets 106,590,084 101,081,404 44,311,565 42,652,195 150,901,649 143,733,599
Restricted 7,709,937 7,695,169 - - 7,709,937 7,695,169
Unrestricted 35,755,335 35,780,949 24,163,929 24,441,942 59,919,264 60,222,891
Total net position 150,055,356$ 144,557,522$ 68,475,494$ 67,094,137$ 218,530,850$ 211,651,659$
Activities Activities Primary Government
Governmental Business-type Total
A portion of the City’s net position ($7,709,937) represents resources that are subject to external restriction
on how they may be used. The remaining balance ($59,919,264) 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, 2020, 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 2020
governmental activities resulted in a $5,497,834 increase in net position. That increase was due to higher
revenue intake, including approximately $1.4 million in Federal CARES Act funds, and continued
investment in the City’s capital assets. Fiscal year 2020 business-type activities resulted in a $1,381,357
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 2020, TRA refunded the City more than $430,000 after calculating the authority’s
true up balances. Additionally, the TRA did not invoice the City for October and November, resulting in a
net gain to the City of almost $830,000. The City also experienced a 0.8% increase in the water and
wastewater customer base.
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, 2020. Governmental activities increased the City of Colleyville’s net position
by $5,497,834, and business-type activities contributed an increase to the City’s net position of $1,381,357.
11
City of Colleyville’s Changes in Net Position
2020 2019 2020 2019 2020 2019
Revenues:
Program revenues:
Charges for services 3,534,955$ 4,106,919$ 17,853,241$ 17,068,448$ 21,388,196$ 21,175,367$
Operating grants and
contributions 2,346,529 771,681 - - 2,346,529 771,681
Capital grants and
contributions 3,756,508 369,126 1,244,335 188,749 5,000,843 557,875
General revenues:
Property tax 16,075,481 15,676,533 - - 16,075,481 15,676,533
Sales tax 8,248,647 7,584,353 - - 8,248,647 7,584,353
Franchise tax 1,874,032 2,086,683 - - 1,874,032 2,086,683
Other tax 198,861 350,411 - - 198,861 350,411
Investment income 544,752 967,396 256,811 455,178 801,563 1,422,574
Miscellaneous 147,034 89,869 42,767 18,706 189,801 108,575
Gain on sale of
capital assets 326,996 14,116 18,980 - 345,976 14,116
Total revenues 37,053,795 32,017,087 19,416,134 17,731,081 56,469,929 49,748,168
Expenses:
General government 5,791,425 5,791,827 - - 5,791,425 5,791,827
Community development 1,609,571 1,398,052 - - 1,609,571 1,398,052
Fire and rescue 6,437,928 6,192,307 - - 6,437,928 6,192,307
Leisure services 4,569,933 4,710,673 - - 4,569,933 4,710,673
Maintenance 729,754 770,762 - - 729,754 770,762
Municipal court 579,980 575,098 - - 579,980 575,098
Police 7,204,613 6,749,202 - - 7,204,613 6,749,202
Streets and drainage 4,647,801 6,181,453 - 4,647,801 6,181,453
Water and wastewater - - 17,054,471 15,463,642 17,054,471 15,463,642
Drainage - - 730,276 863,826 730,276 863,826
Interest on long-term debt 234,986 300,840 - - 234,986 300,840
Total expenses 31,805,991 32,670,214 17,784,747 16,327,468 49,590,738 48,997,682
Increases (decreases) in
net position before transfers 5,247,804 (653,127) 1,631,387 1,403,613 6,879,191 750,486
Transfers 250,030 270,403 (250,030) (270,403) - -
Change in net position 5,497,834 (382,724) 1,381,357 1,133,210 6,879,191 750,486
Net position - October 1 144,557,522 144,765,446 67,094,137 65,960,927 211,651,659 210,726,373
Cumulative effect of change in accounting
principle and prior period adjustment - 174,800 - - - 174,800
Net position - October 1, as restated 144,557,522 144,940,246 67,094,137 65,960,927 211,651,659 210,901,173
Net position - September 30 150,055,356$ 144,557,522$ 68,475,494$ 67,094,137$ 218,530,850$ 211,651,659$
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.
In fiscal year 2020, the governmental funds’ unassigned fund balance decreased by $1,363,456 due to
the City transferring a large portion of its unassigned fund balance into the General Capital Projects Fund
in order to cash fund the City’s five-year capital improvement plan. Essentially, $1.36 million in previously
unassigned cash became assigned to capital projects. The General Fund is the only governmental fund
that can have an unassigned fund balance. The total General Fund revenue was $2,052,251 above
budget, the majority of which is attributable to $1,395,350 received from the federal government through
the CARES Act. Outside of that, Colleyville saw higher than anticipated collections from its tax levy as well
12
as an 8% increase in sales tax receipts despite the business closures that occurred during the spring and
summer months. The City benefits from a strong residential base which helps mitigate the negative effects
of economic fluctuations. Despite having reduced its property tax rate this year, the General Fund’s
property tax revenue was more than $100,000 above budget. Sales tax is the second largest revenue
source, and it finished the year with a $276,000 increase over FY19. As restaurants and other small
businesses temporarily altered their operations due to Governor Abbott’s executive order, the City began
a targeted promotion program to encourage citizens to continue to shop locally. Two round of $35 gift
cards were sent to each Colleyville household which could then be redeemed at Colleyville businesses.
The City’s previous grant initiatives were also continued this year, including:
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.
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 4 BEST Grants, 8 SIGN Grants, and 1 SAFER Grant.
As discussed in the previous paragraph, and per policy enacted by City Council in the previous year, staff
transferred the excess fund balance above reserve requirements to the Capital Projects Fund to fund
future capital projects. The fiscal year 2020 excess fund balance allowed the Council to authorize a total
transfer of $4,875,857 to the Capital Projects Fund, in addition to the originally budgeted transfers of
$1,500,000, for a total transfer of $6,375,857. This contributed to the net increase in the Capital Projects
Fund balance of $2,494,113. 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 2020 Debt Service Fund balance increased by $281,137 due to greater than anticipated
property tax and investment interest revenues. Additionally, the City of Colleyville is 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 $21,332,419 for the Water and
Wastewater Fund and $2,831,510 for the Drainage Utility Fund. Additionally, fiscal year 2020 activities
resulted in a total net position increase of $1,062,210 in the Water and Sewer fund and $319,147 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, which are the only volumetric rates Colleyville
customers pay. An added benefit of the City’s flat, operational rate structure is that it 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
$1.14 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 $1.2 million. The Drainage fees, which are set
monthly charges and therefore much more stable, were $56,154 above budget.
13
Governmental activities – There was an increase of $5,036,708 in governmental activities revenue
compared to fiscal year 2019. The bulk of this increase came from operating grants, primarily the $1.4
million in federal CARES Act funding, and capital contributions from developers. Additionally, 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 $0.320800/$100 valuation to $0.306807/$100 valuation, the City’s actual
property tax revenue was almost $375,000 more than last year’s for the General Fund and the Debt
Service Fund. Total sales tax revenues increased by an impressive $664,000 for the General Fund,
Colleyville Economic Development Corporation (CEDC) and the Colleyville Crime Control and Prevention
District (CCCPD), making for an 8.7% increase over FY19. When the COVID-19 pandemic resulted in
storefront and restaurant closures/restrictions, Colleyville consumers shifted to on-line purchases. These
remote purchases kept the City well in positive territory even though sales tax from restaurants and in-
person services decreased substantially. Partially mitigating these increases were losses in franchise tax
and hotel occupancy tax revenue. Franchise taxes decreased over FY19 by $212,000 due to changes
made by the 86th Texas Legislature, and hotel occupancy taxes saw a decrease of over $150,000 from
COVID-related economic closures. In total, governmental activities experienced a total of $699,041
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 $16,888,494 for
the fiscal year for an increase of $812,768 from fiscal year 2019. The increase was led by higher pass-
through revenue charged to customers for Trinity River Authority fees as well as a 1% increase in
consumption and a slight increase in Colleyville’s customer base. However, as mentioned earlier, revenue
here was lower than staff had anticipated due to lower charges from the Trinity River Authority for
purchasing water. This meant the City did not have to charge its customers as much as expected for their
usage. Additionally, the Authority did not invoice Colleyville for water usage in the last two months of its
fiscal year, resulting in the City collecting revenue it did not have to pay to the Authority. As per the City’s
policy, this surplus will be reserved for use on the City’s cash-funded capital improvement plan. This policy
helps staff and council to keep utility rates as low as possible. The Utility Fund ended with a total budget
surplus of $1.26 million, which was transferred from operations to capital projects for use on the 5-year
capital improvement plan. Revenues from the Drainage Utility fund were essentially flat, with a small
increase in drainage fees being offset by a decrease in interest earnings. Expenses were substantially
lower than FY19 by $142,000. Spending in all categories was lower, although personnel costs can account
for most of the decrease. Public Works went through a slight reorganization mid-year resulting in a few
positions being reclassified to water and wastewater operations. All of this contributed to a $342,904
surplus, which will be reserved for use on the City’s 5-year capital improvement plan.
General fund budgetary highlights – With the FY20 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, FY20 was the second
year that the City adopted an effective property tax rate, meaning properties on both the 2018 and 2019
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 has also
managed to absorb annual operational increases within its existing budget through appropriate use of
restricted revenues such as hotel tax as well as maintaining lean operations.
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
14
tenured employees into their ranges based on years of service to address compression. The FY20 budget
continued to reflect the City Council’s bold vision of fully implementing the recommendations of the 2017
Compensation and Classification Study.
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 2020.
Capital Assets
The City of Colleyville’s investment in capital assets for its governmental and business-type activities as of
September 30, 2020 amounts to $159,478,394, 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 $2.2 million in street improvements, including McDonwell & Westcoat
Roundabout ($1.4 million), and Roberts Road (246,000).
Capitalized over $1.4 million for facility renovations, including a metal roof for the justice center
($463,000), a new restroom at City Park (287,000), and renovations of a park’s facility ($190,000).
Capitalized $2 million in water and wastewater infrastructure.
City of Colleyville’s Capital Assets at Year End
2020 2019 2020 2019 2020 2019
Land 9,178,641$ 9,178,641$ 304,839$ 304,839$ 9,483,480$ 9,483,480$
Buildings and improvements 52,412,241 51,374,588 53,922 53,922 52,466,163 51,428,510
Equipment 14,451,083 14,425,752 2,284,467 2,299,310 16,735,550 16,725,062
Infrastructure/water distribution
sewer collection 108,756,174 104,196,498 84,064,463 82,704,453 192,820,637 186,900,951
Construction in progress 3,331,988 1,571,033 2,261,840 281,743 5,593,828 1,852,776
Less: accumulated depreciation (73,087,581) (69,611,945) (44,533,683) (42,743,507) (117,621,264) (112,355,452)
Total capital assets, net 115,042,546$ 111,134,567$ 44,435,848$ 42,900,760$ 159,478,394$ 154,035,327$
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 $8,577,463. Of this amount, $3,110,000 represents bonded debt backed by
the full faith and credit of the government, $4,775,000 represents bonds secured by sales tax revenues,
$125,000 represents bonds secured solely by drainage utility system revenues, and $208,716 represents
debt from capital leases. The City will call the sales tax secured bonds in December of 2020.
15
Outstanding Debt and Year End
Bonds, Notes and Capitalized Lease Obligations Payable
2020 2019 2020 2019 2020 2019
General obligation bonds and
certificates of obligation 3,110,000$ 4,155,000$ -$ -$ 3,110,000$ 4,155,000$
Sales tax revenue bonds 4,775,000 5,235,000 - - 4,775,000 5,235,000
Revenue bonds payable 125,000 250,000 125,000 250,000
Capital lease obligations 358,747 443,675 - 358,747 443,675
Bond premiums 208,716 225,279 - - 208,716 225,279
Total long-term debt 8,452,463$ 10,058,954$ 125,000$ 250,000$ 8,577,463$ 10,308,954$
Long-term debt to net
position percentage 6% 7% 0% 0% 4% 5%
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 2019 to 2020. 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 no-new-revenue tax 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 2021, the City had a goal of
adopting the no-new-revenue tax rate, which was achieved by adopting a tax rate of $0.304365/$100
valuation, a $0.002 reduction from the fiscal year 2020 tax rate of $0.306807/$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. This revenue stream makes up approximately 17% of the
General Fund’s revenue, and it has endured two major disruptions in the past two years. The first is the
construction that took place along Colleyville’s primary commercial corridor, Colleyville Boulevard (SH26),
which concluded in 2020. The second disruption came this year as COVID-19 restricted commerce in the
City’s restaurant and in-person services sectors. However, consumers shifted their purchasing habits to
online vendors and Colleyville ended the year with an 8.7% increase in sales tax. Staff responded to these
business disruptions by providing grants to businesses and gift cards to residents to be redeemed at
16
Colleyville businesses to encourage shopping. Sales tax has been budgeted conservatively with slight
growth for FY21 and limited growth in future years. As of the date of this report, the city’s first FY 2021
collections has shown a 2% increase over FY 2020.
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 average annual growth of 3%, reflecting
potential new growth on top of an effective tax rate. Conversely, sales tax was projected with 1.5%-2%
growth. The forecast for General Fund expenditures includes average annual cost increases of
approximately 2.3% 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 2021 budget provides a staffing level of 206.23 full-time equivalents (FTEs), 1.0 FTEs more
than in fiscal year 2020. Staff accomplished this by relying on the Colleyville Economic Development
Corporation and Hotel Occupancy tax 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 2021 budget,
which includes zero debt payments and a slight increase in the number of customers, water and
wastewater base rates experienced a slight increase due to staffing reorganization. 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.
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Basic Financial Statements
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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, 2020
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 2,732,776$ 3,443,972$ 6,176,748$ 4,667,712$
Investments 42,206,625 19,464,699 61,671,324 4,059,951
Receivables (net of allowance for uncollectibles of $278,601)
Accounts 268,110 3,043,470 3,311,580 1,516,449
Taxes 1,055,778 - 1,055,778 -
Loans 135,750 - 135,750 -
Due from other governments 814,484 - 814,484 -
Inventories 818 181,562 182,380 -
Prepaid items 165,773 - 165,773 -
Restricted assets:
Investments - 33,575 33,575 -
Accrued interest 52,601 2,388 54,989 31,781
Net pension asset 54,481 12,754 67,235 -
Capital assets:
Non-depreciable 12,510,629 2,566,679 15,077,308 24,515,250
Depreciable (net of depreciation) 102,531,918 41,869,169 144,401,087 14,446,010
Total assets 162,529,743 70,618,268 233,148,011 49,237,153
DEFERRED OUTFLOWS OF RESOURCES
Deferred charge for refunding - 717 717 -
Deferred outflows - TMRS pension and OPEB 2,139,548 278,335 2,417,883 -
Total deferred outflows of resources 2,139,548 279,052 2,418,600 -
LIABILITIES
Accounts payable 1,120,720 983,405 2,104,125 515,550
Accrued liabilities 496,296 52,731 549,027 124,634
Accrued interest payable 35,358 543 35,901 -
Advances from developers 85,972 212,506 298,478 -
Customer deposits 48,613 495,370 543,983 -
Non-current liabilities:
Due within one year 1,304,233 141,745 1,445,978 -
Due in more than one year 9,218,484 203,335 9,421,819 -
OPEB liability 548,457 79,062 627,519 -
Total liabilities 12,858,133 2,168,697 15,026,830 640,184
DEFERRED INFLOWS OF RESOURCES
Deferred inflows - TMRS pension and OPEB 1,755,802 253,129 2,008,931 -
Total deferred inflows of resources 1,755,802 253,129 2,008,931 -
NET POSITION
Net investment in capital assets 106,590,084 44,311,565 150,901,649 38,961,260
Restricted:
Debt service 951,204 - 951,204 -
Court security and technology 72,041 - 72,041 -
Grant Programs 4,520 - 4,520 -
Leisure services 509,204 - 509,204 -
Economic development 4,479,889 - 4,479,889 -
Police 1,693,079 - 1,693,079 -
Unrestricted 35,755,335 24,163,929 59,919,264 9,635,709
TOTAL NET POSITION 150,055,356$ 68,475,494$ 218,530,850$ 48,596,969$
Primary Government
City of Colleyville, Texas
Statement of Activities
For the Fiscal Year Ended September 30, 2020
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 5,791,425$ 14,488$ 1,578,807$ 169,065$
Community development 1,609,571 1,399,114 - -
Fire and rescue 6,437,928 397,612 274,740 -
Leisure services 4,569,933 228,218 375,114 -
Maintenance 729,754 - - -
Municipal court 579,980 1,095,647 - -
Police 7,204,613 75,993 117,868 -
Streets and drainage 4,647,801 323,883 - 3,587,443
Interest on long-term debt 234,986 - - -
Total governmental activities 31,805,991 3,534,955 2,346,529 3,756,508
Business-type activities:
Water and sewer 17,054,471 16,845,727 - 1,244,335
Drainage 730,276 1,007,514 - -
Total business-type activities 17,784,747 17,853,241 - 1,244,335
TOTAL PRIMARY GOVERNMENT 49,590,738$ 21,388,196$ 2,346,529$ 5,000,843$
COMPONENT UNIT
Tax increment financing 2,844,563$ -$ -$ -$
Total component unit 2,844,563$ -$ -$ -$
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
NET POSITION, end of year
Functions/Program Activities
Program Revenues
Exhibit 2
23
Governmental Business-type Component
Activities Activities Total Unit
(4,029,065)$ -$ (4,029,065)$ -$
(210,457) - (210,457) -
(5,765,576) - (5,765,576) -
(3,966,601) - (3,966,601) -
(729,754) - (729,754) -
515,667 - 515,667 -
(7,010,752) - (7,010,752) -
(736,475) - (736,475) -
(234,986) - (234,986) -
(22,167,999) - (22,167,999) -
- 1,035,591 1,035,591 -
- 277,238 277,238 -
- 1,312,829 1,312,829 -
(22,167,999)$ 1,312,829$ (20,855,170)$ -$
-$ -$ -$ (2,844,563)$
-$ -$ -$ (2,844,563)$
16,075,481$ -$ 16,075,481$ 6,200,836$
8,248,647 - 8,248,647 -
1,874,032 - 1,874,032 -
198,861 - 198,861 -
544,752 256,811 801,563 201,329
326,996 18,980 345,976 -
147,034 42,767 189,801 1,472
250,030 (250,030) - -
27,665,833 68,528 27,734,361 6,403,637
5,497,834 1,381,357 6,879,191 3,559,074
144,557,522 67,094,137 211,651,659 45,037,895
150,055,356$ 68,475,494$ 218,530,850$ 48,596,969$
Net (Expense) Revenue and
Changes in Net Position
Primary Government
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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, 2020
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 28,230$ 23,773$ 1,356,831$ 154,647$ 1,169,295$ 2,732,776$
Investments 10,656,109 936,225 19,369,449 3,018,121 8,226,721 42,206,625
Receivables, net of allowances for
uncollectibles:
Accounts 118,695 - 1,110 - 148,305 268,110
Taxes 1,029,214 26,564 - - - 1,055,778
Loans 135,750 - - - - 135,750
Due from other funds - - 490,000 1,100,000 870,000 2,460,000
Due from other governments - - - 376,848 437,636 814,484
Accrued interest 24,239 - 14,869 1,319 12,174 52,601
Inventories 818 - - - - 818
Prepaid items - 165,773 - - - 165,773
TOTAL ASSETS 11,993,055$ 1,152,335$ 21,232,259$ 4,650,935$ 10,864,131$ 49,892,715$
LIABILITIES
Accounts payable 487,393$ -$ 370,529$ 144,264$ 118,534$ 1,120,720$
Accrued liabilities 355,569 - 62,876 26,782 51,069 496,296
Advances from developers 47,548 - 38,424 - - 85,972
Due to other funds 2,335,000 - - - 125,000 2,460,000
Customer deposits 48,613 - - - - 48,613
Total liabilities 3,274,123 - 471,829 171,046 294,603 4,211,601
DEFERRED INFLOWS OF RESOURCES
Unavailable resources 339,354 26,332 - - - 365,686
TOTAL DEFERRED INFLOWS OF RESOURCES 339,354 26,332 - - - 365,686
FUND BALANCES
Nonspendable for:
Inventories 818 - - - - 818
Prepaid items - 165,773 - - - 165,773
Restricted for:
Debt service - 960,230 - - - 960,230
Court security and technology- - - - 72,041 72,041
Grant pro grams - - - - 4,520 4,520
Leisure services - - 509,204 509,204
Economic development - - - 4,479,889 - 4,479,889
Police - - - - 1,693,079 1,693,079
Committed for:
Strategic initiatives 660,435 - - - - 660,435
Leisure services - - - - 2,109,059 2,109,059
Capital projects - - 20,760,430 - 4,956,528 25,716,958
Assigned for:
Capital projects - - - - 1,201,140 1,201,140
Leisure services - - - - 23,957 23,957
Unassigned 7,718,325 - - - - 7,718,325
Total fund balances 8,379,578 1,126,003 20,760,430 4,479,889 10,569,528 45,315,428
TOTAL LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES 11,993,055$ 1,152,335$ 21,232,259$ 4,650,935$ 10,864,131$ 49,892,715$
City of Colleyville, Texas Exhibit 4
Reconciliation of the Governmental Funds
Balance Sheet to the Statement of Net Position
As of September 30, 2020
The Notes to the Financial Statements are an integral part of this statement.
30
TOTAL FUND BALANCES - GOVERNMENT FUNDS 45,315,428$
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 115,042,547
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.(35,358)
Net Pension asset has not been included in the governmental fund financial 54,481
statements, as these assets do not represent current financial resources.
Revenues earned but not available within sixty days of the year end are not
recognized as revenue on the fund financial statements. 365,686
Net deferred outflows of resources related to the City's net pension asset results in
an increase in net position in the government-wide financial statements. 383,746
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 (8,243,747)$
Unamortized bond premium/discount, net (208,716)
Compensated absences (2,070,254)
Other post employment benefits liability (548,457)
(11,071,174)
Net position of governmental activities 150,055,356$
City of Colleyville, Texas Exhibit 5
Statement of Revenues, Expenditures, and
Changes in Fund Balances
Governmental Funds
For the Fiscal Year Ended September 30, 2020
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 21,561,296$ 856,926$ -$ 2,096,882$ 2,065,396$ 26,580,500$
Fines and forfeitures 631,593 - - - 96,825 728,418
Licenses, permits and fees 974,336 - - - - 974,336
Intergovernmental 159,390 654,675 - - 42,655 856,720
Char ges for services 1,356,673 - - - - 1,356,673
Capital improvement fees - - 315,183 - - 315,183
Grants/contributions 1,395,350 - - - 667,369 2,062,719
Investment earnings 212,623 5,934 183,794 36,446 105,955 544,752
Miscellaneous 80,137 - 174,668 - 64,499 319,304
Total revenues 26,371,398 1,517,535 673,645 2,133,328 3,042,699 33,738,605
EXPENDITURES
Current:
General government 4,155,031 - - 148,514 143,666 4,447,211
Community development and engineering 1,423,389 - 218,942 - - 1,642,331
Fire and rescue 5,784,526 - 72,905 - 188,627 6,046,058
Leisure services 2,521,365 - - 614,028 383,397 3,518,790
Maintenance 670,108 - - - - 670,108
Municipal court 452,384 - - - 127,596 579,980
Police services 5,043,235 - - - 1,399,504 6,442,739
Streets and drainage 1,064,238 - 1,305,124 - - 2,369,362
Capital outlay 117,954 - 2,942,589 436,871 1,696,792 5,194,206
Debt service:
Principal retirement - 1,129,928 - 460,000 - 1,589,928
Interest and fiscal charges - 106,470 - 144,144 - 250,614
Total expenditures 21,232,230 1,236,398 4,539,560 1,803,557 3,939,582 32,751,327
Excess (deficiency) of revenues
over (under) expenditures 5,139,168 281,137 (3,865,915) 329,771 (896,883) 987,278
OTHER FINANCING SOURCES (USES)
Proceeds from the sale of property 121,145 - - - 205,851 326,996
Transfers in 250,492 - 6,375,857 - 524,706 7,151,055
Transfers out (6,890,563) - - - (10,462) (6,901,025)
Total other financing sources (uses)(6,518,926) - 6,375,857 - 720,095 577,026
Net change in fund balances (1,379,758) 281,137 2,509,942 329,771 (176,788) 1,564,304
Fund balances, beginning of year 9,759,336 844,866 18,250,488 4,150,118 10,746,316 43,751,124
FUND BALANCES, END OF YEAR 8,379,578$ 1,126,003$ 20,760,430$ 4,479,889$ 10,569,528$ 45,315,428$
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, 2020
The Notes to the Financial Statements are an integral part of this statement.
32
TOTAL NET CHANGE IN FUND BALANCES - GOVERNMENTAL FUNDS 1,564,304$
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.5,194,204
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.(4,873,665)
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 1,589,928$
Amortization of premiums and deferred losses 10,772
1,600,700
The net change in net pension liability/asset, 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. (820,552)
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.(114,333)
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. (45,436)
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. 2,586
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. 3,587,443
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. (597,417)
CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES 5,497,834$
33
Proprietary Funds
Financial Statements
City of Colleyville, Texas Exhibit 7
Statement of Net Position
Proprietary Funds
September 30, 2020
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 2,882,092$ 561,880$ 3,443,972$
Investments 17,157,569 2,307,130 19,464,699
Accounts receivable, net of allowance 2,907,929 135,541 3,043,470
Inventories 181,562 - 181,562
Restricted assets:
Investments - 33,575 33,575
Total current assets 23,129,152 3,038,126 26,167,278
Noncurrent assets:
Accrued interest 927 1,461 2,388
Net pension asset 9,453 3,301 12,754
Capital assets:
Land and improvements 304,839 - 304,839
Buildings 53,922 - 53,922
Utility system 79,761,452 4,303,012 84,064,464
Equipment and furniture 1,635,692 648,774 2,284,466
Construction in progress 2,165,548 96,292 2,261,840
Less: accumulated depreciation (42,480,888) (2,052,795) (44,533,683)
Total non-current assets 41,450,945 3,000,045 44,450,990
Total assets 64,580,097 6,038,171 70,618,268
DEFERRED OUTFLOW OF RESOURCES
Deferred charge for refunding - 717 717
Deferred outflows - TMRS pension and OPEB 230,383 47,952 278,335
Total deferred outflows of resources 230,383 48,669 279,052
LIABILITIES
Current liabilities:
Accounts payable 966,672 16,733 983,405
Accrued liabilities 43,646 9,085 52,731
Accrued interest payable - 543 543
Advances from developers 95,613 116,893 212,506
Customer deposits 495,370 - 495,370
Compensated absences - 16,745 16,745
Revenue bonds payable - 125,000 125,000
Total current liabilities 1,601,301 284,999 1,886,300
Noncurrent liabilities:
Compensated absences 162,799 40,536 203,335
Net OPEB liability 65,067 13,995 79,062
Total non-current liabilities 227,866 54,531 282,397
Total liabilities 1,829,167 339,530 2,168,697
DEFERRED INFLOW OF RESOURCES
Deferred inflows - TMRS pension and OPEB 208,329 44,800 253,129
Total deferred inflows of resources 208,329 44,800 253,129
NET POSITION
Net investment in capital assets 41,440,565 2,871,000 44,311,565
Unrestricted 21,332,419 2,831,510 24,163,929
TOTAL NET POSITION 62,772,984$ 5,702,510$ 68,475,494$
City of Colleyville, Texas Exhibit 8
Statement of Revenues, Expenses
and Changes in Net Position
Proprietary Funds
For the Fiscal Year Ended September 30, 2020
The Notes to the Financial Statements are an integral part of this statement.
35
Water and Sewer Drainage Utility
Fund Fund Total
OPERATING REVENUES
Metered water sales 11,734,812$ -$ 11,734,812$
Wastewater service charges 4,206,156 - 4,206,156
Drainage service charges - 1,002,409 1,002,409
Other charges and services 904,759 5,105 909,864
Miscellaneous 42,767 - 42,767
Total operating revenues 16,888,494 1,007,514 17,896,008
OPERATING EXPENSES
Personnel services 2,085,201 412,357 2,497,558
Maintenance and contractual services 12,572,446 93,175 12,665,621
Material and supplies 420,189 76,691 496,880
Depreciation and amortization 1,976,635 142,137 2,118,772
Total operating expenses 17,054,471 724,360 17,778,831
OPERATING INCOME (LOSS)(165,977) 283,154 117,177
NON-OPERATING REVENUES (EXPENSES)
Interest income 233,882 22,929 256,811
Interest expense - (5,916) (5,916)
Proceeds from Sale of Property - 18,980 18,980
Total non-operating revenues (expenses) 233,882 35,993 269,875
Income (loss) before capital contributions and transfers 67,905 319,147 387,052
CAPITAL CONTRIBUTIONS AND TRANSFERS
Capital contributions 1,244,335 - 1,244,335
Transfers out (250,030) - (250,030)
Total capital contributions and transfers 994,305 - 994,305
Change in net position 1,062,210 319,147 1,381,357
Net position, beginning of year 61,710,774 5,383,363 67,094,137
NET POSITION, END OF YEAR 62,772,984$ 5,702,510$ 68,475,494$
City of Colleyville, Texas Exhibit 9
Statement of Cash Flows
Proprietary Funds
For the Fiscal Year Ended September 30, 2020
The Notes to the Financial Statements are an integral part of this statement.
36
Water and Sewer Drainage Utility
Fund Fund Totals
CASH FLOWS FROM OPERATING ACTIVITIES
Cash received from customers and users 17,118,746$ 1,005,573$ 18,124,319$
Cash payments to suppliers for goods and services (13,512,819) (183,796) (13,696,615)
Cash payments to employees for services (1,961,743) (373,539) (2,335,282)
Net cash provided by operating activities 1,644,184 448,238 2,092,422
CASH FLOWS FROM NON-CAPITAL FINANCING ACTIVITIES
Transfers out (250,030) - (250,030)
Net cash used in non-capital financing activities (250,030) - (250,030)
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets (2,321,766) (87,041) (2,408,807)
Proceeds from sale of capital assets - 18,980 18,980
Principal payments on bonds - (125,000) (125,000)
Interest paid of debt - (6,458) (6,458)
Net cash used in capital and related financing activities (2,321,766) (199,519) (2,521,285)
CASH FLOWS FROM INVESTING ACTIVITIES
(Purchase) sale of investments 118,312 (465,542) (347,230)
Earnings on investments 233,039 22,929 255,968
Net cash provided by (used in) investing activities 351,351 (442,613) (91,262)
Net change in cash and cash equivalents (576,261) (193,894) (770,155)
Cash and cash equivalents, beginning of year 3,458,353 755,774 4,214,127
CASH AND CASH EQUIVALENTS, END OF YEAR 2,882,092$ 561,880$ 3,443,972$
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED BY OPERATING ACTIVITIES
Operating income (loss)(165,977)$ 283,154$ 117,177$
Adjustments to reconcile operating income (loss)
to net cash provided by (used in) operating activities:
Depreciation and amortization 1,976,635 142,137 2,118,772
Decrease (increase) in assets and deferred outflows of resources:
Receivables 228,232 (1,941) 226,291
Inventory 9,916 - 9,916
Net pension asset (9,453) (3,301) (12,754)
Deferred outflows - TMRS pension and OPEB 240,058 51,622 291,680
Increase (decrease) in liabilities and deferred outflows of resources:
Accounts payable (539,456) (15,418) (554,874)
Accrued liabilities 9,356 1,488 10,844
Compensated absences 20,713 16,718 37,431
Customer deposits 2,020 - 2,020
Net pension liability (345,000) (72,921) (417,921)
Total OPEB liability 13,568 2,923 16,491
Accrued interest payable - - -
Deferred inflows - TMRS pension and OPEB 203,572 43,777 247,349
Net cash provided by operating activities 1,644,184$ 448,238$ 2,092,422$
NON-CASH CAPITAL AND RELATED FINANCING
Contributions of capital assets from developers 1,244,335$ -$ 1,244,335$
37
Fiduciary Fund
Financial Statements
38
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City of Colleyville, Texas Exhibit 10
Employee Activity Fund and Sesquicentennial Fund
Statement of Fiduciary Net Position
September 30, 2020
The Notes to Financial Statements are an integral part of this statement.
39
Agency Fund
ASSETS
Cash and cash equivalents 22,168$
Investments 3,323
TOTAL ASSETS 25,491$
LIABILITIES
Due to other agencies and individuals 25,491$
TOTAL LIABILITIES 25,491$
40
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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 Net 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.
City of Colleyville, Texas
Notes to the Basic Financial Statements
49
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.
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, 2020, the City held the following fair value measurements:
Value at
September
30, 2020
Level 1
Inputs Level 2 Inputs
Level 3
Inputs
Percent of
Total
Investments
City:
Cash and cash equivalents:
Cash deposits - City 6,174,036$ -$ -$ -$
Petty Cash - City 2,712
Cash deposits - trust
and agency 22,168 - - -
Investments not subject to
fair value:
Investment pools:
TexPool 18,815,153 - - - 28% 38
TexStar 9,510,879 - - - 14% 39
Texas CLASS 21,297,254 - - - 31% 22
LOGIC 1,674,406 - - - 2% 54
Investments in certificates
of deposits:
Certificates of deposits 10,410,530 - 10,410,530 -
Total cash and investments
of the cit y 67,907,138 - 10,410,530 -
Component unit:
Cash and cash equivalents:
Cash deposits 4,667,712 - - -
Investments not subject to
fair value:
Investment pools:
Texas CLASS 428,995 - - - 5% 22
TexPool 704,330 - - - 8% 38
TexStar 877,537 - - - 10% 39
LOGIC 819,492 - - - 9% 54
Investments in certificates
of deposits:
Certificates of deposits 1,229,597 - 1,229,597 -
Total cash and investments
of the component unit 8,727,663 - 1,229,597 -
Total cash and investments of the
reporting entity 76,634,801$ -$ 11,640,127$ -$
Fair Value Measurements Weighted
Average
Maturity
(Days)
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 are measured at amortized cost or net asset value and are exempt from fair value
reporting and therefore have been excluded from the hierarchy. Certificates of Deposit are reported fair
value.
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.
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.
52
City of Colleyville, Texas
Notes to the Basic Financial Statements
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.
Certificates of Deposit classified in Level 2 of the fair value hierarchy are negotiable and are valued
using quoted prices for similar assets in active markets (Level 2).
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, 2020.
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 Projects Governmental Sewer Fee Total
Receivables:
Accounts 375,044$ -$ 1,110$ 148,305$ 2,930,181$ 135,541$ 3,590,181$
Taxes 1,029,214 26,564 - - - - 1,055,778
Loans 135,750 - - - - - 135,750
Gross receivables 1,540,008 26,564 1,110 148,305 2,930,181 135,541 4,781,709
Less allowance 256,349 - - - 22,252 - 278,601
Net total
receivables 1,283,659$ 26,564$ 1,110$ 148,305$ 2,907,929$ 135,541$ 4,503,108$
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 2020 levy was based, was $5,839,829,017.
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, 2020, was $0.306807 per $100 of assessed valuation.
Taxes are due by January 31 following the levy date. Tax collections, including related penalties and
interest, was $17,317,428 for the year ended September 30, 2020. Property taxes receivable at September
30, 2020, were $251,843.
The appraisal of property within the City is the responsibility of a countywide appraisal district as
required by legislation passed by the Texas Legislature. The appraisal district is required under such
legislation to assess all property within the appraisal district on the basis of 100% of its appraised value
and is prohibited from applying any assessment ratios. The value of property within the appraisal district
must be reviewed every three years; however, the City may, at its own expense, require annual reviews
of appraised values. The City may challenge appraised values established by the appraisal district
through various appeals and, if necessary, legal action.
City of Colleyville, Texas
Notes to the Basic Financial Statements
54
Note 5. Capital Assets
Capital asset activity for the year ended September 30, 2020, was as follows:
Primary Government
Beginning Capital Sales or Adjustments/ Ending
Balance Acquisitions Disposals Transfers Balance
Governmental activities:
Capital assets not being depreciated:
Land 9,178,641$ -$ -$ -$ 9,178,641$
Construction-in-progress 1,571,033 3,308,894 - (1,547,939) 3,331,988
Total capital assets not
being depreciated 10,749,674 3,308,894 - (1,547,939) 12,510,629
Capital assets being depreciated:
Buildings and building improvements 51,374,588 208,824 (70,404) 899,234 52,412,242
Machinery and Equipment 14,425,752 1,352,958 (1,327,627) - 14,451,083
Improvements other than buildings 104,196,498 3,910,971 - 648,705 108,756,174
Total capital assets being depreciated 169,996,838 5,472,753 (1,398,031) 1,547,939 175,619,499
Accumulated depreciation:
Buildings and building improvements (23,468,254) (1,548,783) 70,404 - (24,946,633)
Machinery and Equipment (11,755,911) (1,149,160) 1,327,627 - (11,577,444)
Improvements other than buildings (34,387,780) (2,175,724) - - (36,563,504)
Total accumulated depreciation (69,611,945) (4,873,667) 1,398,031 - (73,087,581)
Total capital assets being depreciated, net 100,384,893 599,086 - 1,547,939 102,531,918
Governmental activities capital assets, net 111,134,567$ 3,907,980$ -$ -$ 115,042,547$
Beginning Capital Sales or Adjustments/ Ending
Balance Acquisitions Disposals Transfers Balance
Business-Type activities:
Capital assets not being depreciated:
Land 304,839$ -$ -$ -$ 304,839$
Construction in progress 281,743 1,980,097 - - 2,261,840
Total capital assets not
being depreciated 586,582 1,980,097 - - 2,566,679
Capital assets being depreciated:
Buildings and building improvements 53,922 - - - 53,922
Machinery and equipment 2,299,310 313,033 (327,876) - 2,284,467
Improvements other than buildings 82,704,453 1,360,010 - - 84,064,463
Total capital assets being depreciated 85,057,685 1,673,043 (327,876) - 86,402,852
Accumulated depreciation:
Buildings and building improvements (138,744) (622) - - (139,366)
Machinery and equipment (1,938,547) (132,006) 327,876 - (1,742,677)
Improvements other than buildings (40,666,216) (1,985,424) - - (42,651,640)
Total accumulated depreciation (42,743,507) (2,118,052) 327,876 - (44,533,683)
Total capital assets being depreciated, net 42,314,178 (445,009) - - 41,869,169
Business type activities capital assets, net 42,900,760$ 1,535,088$ -$ -$ 44,435,848$
City of Colleyville, Texas
Notes to the Basic Financial Statements
55
Component Unit
Beginning Capital Sales or Adj ustments/ Ending
Balance Acquisitions Disposals Transfers Balance
Component unit activities:
Capital assets not being depreciated:
Land 6,413,874$ 9,851,067$ -$ -$ 16,264,941$
Construction-in-progress 5,978,080 6,680,926 - (4,408,697) 8,250,309
Total capital assets not
being depreciated 12,391,954 16,531,993 - (4,408,697) 24,515,250
Capital assets being depreciated:
Improvements other than buildings 11,598,758 - - 4,408,697 16,007,455
Total capital assets being depreciated 11,598,758 - - 4,408,697 16,007,455
Accumulated depreciation:
Improvements other than buildings (1,013,522) (547,923) - - (1,561,445)
Total accumulated depreciation (1,013,522) (547,923) - - (1,561,445)
Total capital assets being depreciated, net 10,585,236 (547,923) - 4,408,697 14,446,010
Component unit activities capital assets, net 22,977,190$ 15,984,070$ -$ -$ 38,961,260$
Depreciation expense was charged to functions/programs of the primary government as follows:
Governmental activities:
General government 474,071$
Public safety 1,027,907
Public works 2,330,212
Culture and recreation 1,041,477
Total depreciation expense -
governmental activities 4,873,667$
Business-type activities:
Water and sewer 1,976,635$
Drainage utility 141,417
2,118,052$
City of Colleyville, Texas
Notes to the Basic Financial Statements
56
Construction Commitments
The government has active construction projects as of September 30, 2020. The major projects are listed
as follows:
Remaining
Project Spent-to-date Commitment
City Hall/Library HVAC Renovation 149,901$ 199,984$
Cheek-Sparger Road Improvements 965,050 42,250
Colleyville Center Metal Re-Roofing 194,902 10,598
Drainage Master Plan 248,060 192,697
FY21 Misc. Drainage Projects 20,000 249,180
Glade Rd Ph II ROW Acquisition 467,095 22,096
Glade Rd Ph II - Construction 1,250 14,273,642
Glade Rd Phase 2,3,4 Design 1,124,637 42,689
Hwy 26 Reconstruction 2,058,708 20,939
ILA Fiber Project 413,352 278,930
John McCain / Westcoat Roundabout 564,917 622,121
John McCain Hike & Bike Trail 226,894 641,000
Justice Center HVAC Replacement 80,273 326,727
Justice Center Metal Roof Restoration 463,425 266,075
LD Lockett Designated Right Turn Lane - Design 68,602 10,880
LD Lockett Pump Generator 76,033 413,467
McDonwell School Road and Westcoat Dr Roundabout 1,599,181 278,042
Nature Center & Reagan Park Restrooms 287,354 419,126
Nature Center Trail 171,715 215,985
Park Facility Renovation (5205 Bransford) 190,769 260,152
Pleasant Run Waterline - Design 110,128 282,286
Roberts Road - Design 331,744 95,251
SCADA Upgrade 100,768 189,732
Senior Center Exterior Renovation 8,123 109,683
SH26 Beautification 60,640 6,519,400
SH26 Light Pole Fixtures 1,711,704 1,288,296
Tinker Road Reconstruction - Design 49,683 277,911
Water Project #10: Apple Valley 49,280 16,870
Water Tower Rehab/Demo 1,729,829 22,660
Total 13,524,017$ 27,588,669$
City of Colleyville, Texas
Notes to the Basic Financial Statements
57
Note 6. Interfund Transactions
Interfund balances reflect payments made by one fund on behalf of another fund for which cash
settlement has not been made as of the end of the accounting period. As of September 30, 2020
interfund balances outstanding were as follows:
Colleyville Nonmajor
Economic Capital Government
General Development Projects Funds Total
Due From
General fund -$ 1,100,000$ 390,000$ 845,000$ 2,335,000$
Nonmajor governmental funds - - 100,000 25,000 125,000
Total -$ 1,100,000$ 490,000$ 870,000$ 2,460,000$
Due To
The composition of interfund transfers as of September 30, 2020, is as follows:
Nonmajor
Capital Government
General Projects Funds Total
Transfer out:
General fund -$ 6,375,857$ 514,706$ 6,890,563$
Nonmajor governmental funds 462 - 10,000 10,462
Water and wastewater 250,030 - - 250,030
Total 250,492$ 6,375,857$ 524,706$ 7,151,055$
Transfer in
The most significant interfund transfers include the transfer of $6,375,857 from the General Fund to the
Capital Projects and $514,706 to Nonmajor Governmental Funds represents transfers for capital
replacement.
The $250,030 from the water and wastewater fund to the General Fund is a budgeted transfer for the
fund’s share of administrative expenses.
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 $35,540,000.
General obligation bonds are direct obligations and pledge the full faith and credit of the
government. These bonds generally are issued as 20-year serial bonds with equal amounts of principal
maturing each year.
City of Colleyville, Texas
Notes to the Basic Financial Statements
58
Long-term liability activity for the year ended September 30, 2020, was as follows:
Amount
Beginning Ending Due within
Balance Additions Reductions Balance One Year
Governmental activities:
General obligation bonds and
certificates of obligation 4,155,000$ -$ (1,045,000)$ 3,110,000$ 410,000$
Sales tax revenue bonds 5,235,000 - (460,000) 4,775,000 470,000
Bond premiums 225,279 - (16,563) 208,716 35,928
Capital leases payable 443,675 - (84,928) 358,747 87,619
Compensated absences 1,955,921 905,177 (790,844) 2,070,254 300,686
Net pension liability 2,932,903 (2,932,903) - -
Total OPEB liability 434,068 114,389 - 548,457 -
Total governmental activities 15,381,846$ 1,019,566$ (5,330,238)$ 11,071,174$ 1,304,233$
Amount
Beginning Ending Due within
Balance Additions Reductions Balance One Year
Business-type activities:
Revenue bonds and certificates
of obligation 250,000$ -$ (125,000)$ 125,000$ 125,000$
Compensated absences 182,649 100,575 (63,144) 220,080 16,745
Net pension liability 417,921 (417,921) - -
Total OPEB liability 62,571 16,491 - 79,062 -
Total business-type activities 913,141$ 117,066$ (606,065)$ 424,142$ 141,745$
Beginning Ending Due within
Balance Additions Reductions Balance One Year
Component unit:
Note payable to primary government 645,000$ -$ (645,000)$ -$ -$
Bond premiums 24,041 - (24,041) - -
Total component unit 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
59
Long-term liabilities at September 30, 2020, consisted of the following:
Final Interest Business-
General Obligation Bonds and Certificates of Obligation Maturity Rates Governmental Type
$6,225,000 Series 2016, General Obligation Refunding Bonds 2027 2.0 - 3.0% 3,110,000$ -$
3,110,000$ -$
Final Interest Business-
Governmental Revenue Bonds Maturity Rates Governmental Type
$7,330,000 Series 2013, Refunding and Improvement
Sales Tax Revenue Bonds 2029 2.88% 4,775,000$ -$
$1,550,000 Series 2011, Waterworks and Wastewater
System Refunding Bonds 2021 3.47% - 125,000
4,775,000$ 125,000$
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, 2020, the City was in
compliance with these requirements.
Governmental-type Activities
General Obligation Bonds and Certificates of Obligation
Fiscal Years Ending
September 30, Principal Interest Total
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 455,000 23,350 478,350
2026-2027 940,000 18,900 958,900
Total 3,110,000$ 242,900$ 3,352,900$
Governmental Activities
City of Colleyville, Texas
Notes to the Basic Financial Statements
60
General Revenue Bonds
Fiscal Years Ending
September 30, Principal Interest Total
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 530,000 73,152 603,152
2026-2029 2,275,000 133,560 2,408,560
Total 4,775,000$ 659,016$ 5,434,016$
Governmental Activities
Business-type Activities
Revenue Bonds and Certificates of Obligation
Fiscal Years Ending
September 30, Principal Interest Total
2021 125,000 2,169 127,169
Total 125,000$ 2,169$ 127,169$
Business-Type Activities
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.
Capital leases entered into prior to fiscal year 2020 totaled $358,747. Capital leases are classified as
machinery and equipment, and have an amortized value of approximately $584,365 at September 30,
2020. Capital lease amortization expense has been included in depreciation expense for the year ended
September 30, 2020.
City of Colleyville, Texas
Notes to the Basic Financial Statements
61
The future minimum lease obligations and the net present value of these minimum lease payments as of
September 30, 2020, were as follows:
Fiscal Years Ending
September 30,
2021 95,219$
2022 96,818
2023 48,484
2024 48,484
2025 48,484
2026-2027 97,166
Total minimum lease payments 434,655
Less: amount representing interest (75,908)
Present value of minimum lease payments 358,747$
Governmental
Activities
Note 8. Defined Benefit Pension Policies
Plan Descriptions
The City participates as one of 888 plans in the nontraditional, joint contributory, hybrid defined benefit
pension plan administered by the Texas Municipal Retirement System (TMRS). TMRS is an agency
created by the State of Texas and administered in accordance with the TMRS Act, Subtitle G, Title 8,
Texas Government Code (the TMRS Act) as an agency multiple-employer retirement system for
municipal employees in the State of Texas. The TMRS Act places the general administration and
management of the System with a six-member Board of Trustees. Although the Governor, with the
advice and consent of the Senate, appoints the Board, TMRS is not fiscally dependent on the State of
Texas. TMRS's defined benefit pension plan is a tax-qualified plan under Sections 401(a) of the Internal
Revenue Code. TMRS issues a publicly available comprehensive annual financial report (CAFR) that
can be obtained at www.tmrs.org.
All eligible employees of the City are required to participate in TMRS.
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.
City of Colleyville, Texas
Notes to the Basic Financial Statements
62
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, 2019 valuation and measurement date, the following employees were covered
by the benefit –terms:
Inactive employees or beneficiaries currently receiving benefits 148
Inactive employees entitled to but not yet receiving benefits 147
Active employees 187
482
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 gross earnings during the fiscal
year. The contribution rates for the City were 8.72% and 9.10% in calendar years 2019 and 2020,
respectively. The city's contributions to TMRS for the year ended September 30, 2020, were $1,280,642,
and were equal to the required contributions.
Net Pension Liability/(Asset)
The City's Net Pension Liability/(Asset) was measured as of December 31, 2019, and the Total Pension
Liability/(Asset) used to calculate the Net Pension Liability/(Asset) was determined by an actuarial
valuation as of that date.
Actuarial Assumptions
The Total Pension Liability/(Asset) in the December 31, 2019 actuarial valuation was determined using
the following actuarial assumptions:
Inflation 2.5% per year
Overall payroll growth 2.75% per year
Investment Rate of Return 6.75%, net of pension plan investment expense, including inflation
City of Colleyville, Texas
Notes to the Basic Financial Statements
63
Salary increases were based on a service-related table. Mortality rates for active members are based
on the PUB(10) mortality tables with the Public Safety table used for males and the General Employee
table used for females. Mortality rates for healthy retirees and beneficiaries are based on the
Gender-distinct 2019 Municipal Retirees of Texas mortality tables. The rates for actives, healthy retirees
and beneficiaries are projected on a fully generational basis by Scale UMP to account for future
mortality improvements. For disabled annuitants, the same mortality tables for healthy retirees is used
with a four-year set-forward for males and a 3-year set-forward for females. In addition, a 3.5% and
3.0% minimum mortality rate is applied, for males and females respectively, to reflect the impairment
for younger members who become disabled. The rates are projected on a fully generational basis by
Scale UMP to account for future mortality improvements subject to the floor.
The actuarial assumptions were developed primarily from the actuarial investigation of the experience
of TMRS over the four-year period from December 31, 2014 to December 31, 2018. They were adopted
in 2019 and first used in the December 31, 2109 actuarial valuation. The post-retirement mortality
assumption for Annuity Purchase Rates (APRs) is based on the Mortality Experience Investigation Study
covering 2009 through 2011 and dated December 31, 2013. For determining the amount of the monthly
benefit at the time of retirement for both healthy and disabled annuitants, the APRs until 2027 are
based on the study performed in 2013, with the factors phasing into being based on a unisex blend of
the RP-2000 Combined Healthy Mortality Tables with Blue Collar Adjustment for males and females with
both male and female rates multiplied by 107.5% and projected on a fully generational basis with scale
BB. Plan assets are managed on a total return basis with an emphasis on both capital appreciation as
well as the production of income in order to satisfy the short-term and long-term funding needs of
TMRS.
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 2020 are summarized
in the following table:
Long-Term
Expected Real
Target Rate of Return
Asset Class Allocation (Arithmetic)
Global equity 30.0% 5.30%
Core fixed income 10.0% 1.25%
Non-core fixed income 20.0% 4.14%
Real return 10.0% 3.85%
Real estate 10.0% 4.00%
Absolute return 10.0% 3.48%
Private equity 10.0% 7.75%
Total 100.0%
City of Colleyville, Texas
Notes to the Basic Financial Statements
64
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).
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, 2018 59,753,587$ 56,402,763$ 3,350,824$
Chan ges for the year:
Service cost 2,114,121 - 2,114,121
Interest 4,016,942 - 4,016,942
Change of benefit terms - - -
Difference between expected and
actual experience 943,948 - 943,948
Changes of assumptions 282,429 - 282,429
Contributions - employer - 1,159,312 (1,159,312)
Contributions - employee - 948,036 (948,036)
Net investment income - 8,718,902 (8,718,902)
Benefit payments, including refunds
of employee contributions (2,600,777) (2,600,777) -
Administrative expense - (49,271) 49,271
Other changes - (1,480) 1,480
Net changes 4,756,663 8,174,722 (3,418,059)
Balance at December 31, 2019 64,510,250$ 64,577,485$ (67,235)$
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 )8,925,311$ (67,235)$ (7,482,558)$
City of Colleyville, Texas
Notes to the Basic Financial Statements
65
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, 2020, the City recognized pension expense of $2,197,460. The General
Fund, Capital Projects Fund, Colleyville Economic Development Fund, Water and Sewer Fund, Drainage
Utility Fund, Crime District Fund, and Juvenile Case Manager Fund have been used to liquidate pension
liabilities.
At September 30, 2020, the City reported deferred outflows of resources and deferred inflows of resources
related to pensions from the following sources:
Deferred Deferred
Outflows of Inflows of
Resources Resources
Differences between expected and actual economic experience 1,109,324$ -$
Changes in actuarial assumptions 210,011 -
Difference between proj ected and actual investment earnings- (1,970,696)
Contributions subsequent to the measurement date 986,330 -
Total 2,305,665$ (1,970,696)$
$986,330 reported as deferred outflows of resources related to pensions resulting from contributions
subsequent to the measurement date will be recognized as a reduction of the net pension
liability/(asset) for the measurement year ending December 30, 2019 (i.e. recognized in the City’s
financial statements for the year ended September 30, 2021). Other amounts reported as deferred
outflows and inflows of resources related to pensions will be recognized in pension expense as follows:
Fiscal
Net Deferred
Outflows
Years Ended (Inflows) of
December 30, Resources
2020 (55,672)$
2021 (86,436)
2022 473,090
2023 (982,343)
2024 -
Total (651,361)$
City of Colleyville, Texas
Notes to the Basic Financial Statements
66
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, 2019, the date of the latest actuarial valuation, consists of
the following:
Inactive employees currently receiving benefits 98
Inactive employees entitled to but not yet receiving benefits 18
Active employees 187
Total 303
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, 2019 actuarial valuation was determined using the following
actuarial assumptions:
Inflation 2.50%
Salary increases 3.50% to 11.50% including inflation
Discount rate 2.75%
Salary increases were based on a service-related table. Mortality rates for active members are based
on the PUB(10) mortality tables with the Public Safety table used for males and the General Employee
table used for females. Mortality rates for healthy retirees and beneficiaries are based on the Gender-
distinct 2019 Municipal Retirees of Texas mortality tables. The rates for actives, healthy retirees and
beneficiaries are projected on a fully generational basis by Scale UMP to account for future mortality
improvements. For disabled annuitants, the same mortality tables for healthy retirees is used with a
four-year set-forward for males and a 3-year set-forward for females. In addition, a 3.5% and 3.0%
minimum mortality rate is applied, for males and females respectively, to reflect the impairment for
younger members who become disabled. The rates are projected on a fully generational basis by
Scale UMP to account for future mortality improvements subject to the floor.
The actuarial assumptions were developed primarily from the actuarial investigation of the experience
of TMRS over the four-year period from December 31, 2014 to December 31, 2018. They were adopted
in 2019 and first used in the December 31, 2019 actuarial valuation. The post-retirement mortality
assumption for Annuity Purchase Rates (APRs) is based on the Mortality Experience Investigation Study
covering 2009 through 2011 and dated December 31, 2013. For determining the amount of the monthly
benefit at the time of retirement for both healthy and disabled annuitants, the APRs until 2027 are
based on the study performed in 2013, with the factors phasing into being based on a unisex blend of
the RP-2000 Combined Healthy Mortality Tables with Blue Collar Adjustment for males and females with
both male and female rates multiplied by 107.5% and projected on a fully generational basis with scale
BB. Plan assets are managed on a total return basis with an emphasis on both capital appreciation as
well as the production of income in order to satisfy the short-term and long-term funding needs of
TMRS.
City of Colleyville, Texas
Notes to the Basic Financial Statements
67
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, 2018 496,639$
Changes for the year:
Service cost 23,024
Interest 18,777
Change of benefit terms -
Difference between expected and
actual experience (9,503)
Changes of assumptions 102,645
Benefit payments, including refunds
of employee contributions (4,063)
Net changes 130,880
Balance at December 31, 2019 627,519$
The following presents the OPEB liability of the City, calculated using the discount rate of 2.75%, 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 (1.75%) or one-percentage-higher (3.75%) than the current rate:
1% Decrease in
Discount Discount
1% Increase in
Discount
1.75% Rate 2.75% 3.75%
Total OPEB liability 766,465$ 627,519$ 520,370$
OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB.
For the year ended September 30, 2020, the City recognized OPEB expense of $56,251. The General
Fund, Capital Projects Fund, Colleyville Economic Development Fund, Water and Sewer Fund,
Drainage Utility Fund, Crime District Fund, and Juvenile Case Manager Fund have been used to
liquidate OPEB liabilities.
City of Colleyville, Texas
Notes to the Basic Financial Statements
68
At September 30, 2020, the City reported deferred outflows of resources and deferred inflows of
resources related to OPEB from the following sources:
Deferred Outflows
of Resources
Deferred Inflows
of Resources
Differences between expected and actual experience -$ (11,665)$
Changes in assumptions and other inputs 108,966 (26,570)
Contributions made subsequent to measurement date 3,252 -
Total 112,218$ (38,235)$
$3,252 reported as deferred outflows of resources related to OPEB resulting from contributions
subsequent to the measurement date will be recognized as a reduction of the OPEB liability for the
measurement year ending December 30, 2019 (i.e. recognized in the City’s financial statements for
the year ended September 30, 2021). Other amounts reported as deferred outflows and inflows of
resources related to pensions will be recognized in pension expense as follows:
Net Deferred
Outflows
Years Ending (Inflows) of
December 30, Resources
2020 14,450$
2021 14,450
2022 14,450
2023 11,520
2024 11,141
Thereafter 4,720
Total 70,731$
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 2020
amounted to approximately $8,984,236 and $2,846,276, 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.
City of Colleyville, Texas
Notes to the Basic Financial Statements
69
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 ea ch 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, 2020. 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 $11,041
for the year ended September 30, 2020.
Note 14. New Accounting Pronouncements
The GASB pronouncements effective in fiscal year 2020 and 2021 are listed as follows:
The GASB issued Statement No. 84, Fiduciary Activities, in January 2017. This statement establishes
standards of accounting and financial reporting for fiduciary activities. This standard becomes
effective for the City in fiscal year 2021. The City has not yet determined the impact of this statement.
The GASB issued Statement No. 90: Majority Equity Interests – an Amendment to GASB Statements No.
14 and No. 61. Statement 90 will be effective for periods beginning after December 15, 2019. The
primary objective of this Statement is to improve the consistency and comparability of reporting a
government’s majority equity interest in a legally separate organization and to improve the relevance
of financial statements information for certain component units. The Statement also requires that a
component unit in which a government has a 100 percent equity interest account for its assets,
deferred outflows of resources, liabilities, and deferred inflows of resources at acquisition value at the
date the government acquired a 100 percent equity interest in the component unit. This standard will
become effective for the City in fiscal year 2021. The City has not yet determined the impact of this
statement.
70
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71
Required Supplementary Information
72
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73
Budgetary Comparison
Schedules
City of Colleyville, Texas Exhibit A-1
General Fund
Budgetary Comparison Schedule (GAAP Basis)
For the Fiscal Year Ended September 30, 2020
See Notes to the Budgetary Comparison Schedules
74
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
REVENUES
Taxes 21,041,674$ 21,041,674$ 21,561,296$ 519,622$
Fines and forfeitures 640,000 640,000 631,593 (8,407)
Licenses, permits and fees 927,500 927,500 974,336 46,836
Intergovernmental 159,390 159,390 159,390 -
Charges for services 1,340,483 1,340,483 1,356,673 16,190
Grants/Contributions - - 1,395,350 1,395,350
Investment earnings 150,000 150,000 212,623 62,623
Miscellaneous 60,100 60,100 80,137 20,037
TOTAL REVENUES 24,319,147 24,319,147 26,371,398 2,052,251
EXPENDITURES
Current:
General government 4,564,726 4,564,726 4,155,031 409,695
Community development and engineering 1,510,432 1,510,432 1,423,389 87,043
Fire and rescue 5,829,801 5,829,801 5,784,526 45,275
Leisure services 2,674,198 2,674,198 2,521,365 152,833
Maintenance 730,533 730,533 670,108 60,425
Municipal court 469,636 469,636 452,384 17,252
Police services 5,121,389 5,121,389 5,043,235 78,154
Streets and drainage 1,241,484 1,241,484 1,064,238 177,246
Capital outlay 24,000 24,000 117,954 (93,954)
TOTAL EXPENDITURES 22,166,199 22,166,199 21,232,230 933,969
Excess of revenues over expenditures 2,152,948 2,152,948 5,139,168 2,986,220
OTHER FINANCING SOURCES (USES)
Proceeds from the sale of property 20,000 20,000 121,145 101,145
Transfers in 250,030 250,030 250,492 462
Transfers out (2,016,606) (2,016,606) (6,890,563) (4,873,957)
TOTAL OTHER FINANCING SOURCES (USES)(1,746,576) (1,746,576) (6,518,926) (4,772,350)
NET CHANGE IN FUND BALANCE 406,372 406,372 (1,379,758) (1,786,130)
FUND BALANCES, beginning of year 9,759,336 9,759,336 9,759,336 -
FUND BALANCES, end of year 10,165,708$ 10,165,708$ 8,379,578$ (1,786,130)$
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, 2020
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$ 2,096,882$ 189,482$
Investment earnings 25,000 25,000 36,446 11,446
Total revenues 1,932,400 1,932,400 2,133,328 200,928
EXPENDITURES
General government 196,358 196,358 148,514 47,844
Leisure services 698,846 698,846 614,028 84,818
Capital outlay 1,210,000 1,210,000 436,871 773,129
Debt service:
Principal retirement 460,000 460,000 460,000 -
Interest and fiscal charges 144,144 144,144 144,144 -
Total expenditures 2,709,348 2,709,348 1,803,557 905,791
Excess (deficiency) of revenues
over (under) expenditures (776,948) (776,948) 329,771 1,106,719
Net change in fund balance (776,948) (776,948) 329,771 1,106,719
FUND BALANCE, beginning of year 4,150,118 4,150,118 4,150,118 -
FUND BALANCE, end of year 3,373,170$ 3,373,170$ 4,479,889$ 1,106,719$
Budgeted Amounts
76
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City of Colleyville, Texas
Notes to the Budgetary Comparison Schedules
For the Fiscal Year Ended September 30, 2020
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, 2020 were:
General Fund:
Capital Outlay ($93,954)
The General Fund capital outlay expenditures exceeded appropriations by $93,954 mainly due to
the computer equipment for public works. This overage was funded by underspending in other
functions.
City of Colleyville, Texas Exhibit A-3
Schedule of Changes in Net Pension Liability
and Related Ratios
Texas Municipal Retirement System
Last Six Measurement Years
78
Measurement Measurement Measurement Measurement Measurement Measurement
Year Year Year Year Year Year
2019 2018 2017 2016 2015 2014
Total pension liability:
Service cost 2,114,121$ 2,067,935$ 2,045,941$ 1,920,420$ 1,820,192$ 1,598,908$
Interest 4,016,942 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 943,948 713,928 19,139 205,568 (55,444) 136,216
Change in assumptions 282,429 - - - 937,119 -
Benefit payments, including refunds of
employee contributions (2,600,777) (2,542,340) (2,151,523) (2,133,755) (1,814,665) (1,728,299)
Net change in total pension liability 4,756,663 3,987,709 3,441,865 3,294,524 4,036,878 2,945,588
Total pension liability - beginning 59,753,589 55,765,880 52,324,015 49,029,491 44,992,613 42,047,025
Total pension liability - ending (a) 64,510,252 59,753,589 55,765,880 52,324,015 49,029,491 44,992,613
Plan fiduciary net position:
Contributions - employer 1,159,312 1,159,516 1,082,013 922,484 903,631 745,874
Contributions - employee 948,036 920,251 898,468 851,897 822,553 763,324
Net investment income 8,718,902 (1,757,178) 7,166,092 3,298,224 72,103 2,657,437
Benefit payments, including refunds of
employee contributions (2,600,777) (2,542,340) (2,151,523) (2,133,755) (1,814,665) (1,728,299)
Administrative expense (49,271) (33,959) (37,136) (37,249) (43,918) (27,747)
Other (1,480) (1,774) (1,882) (2,007) (2,170) (2,281)
Net change in plan fiduciary net position 8,174,722 (2,255,485) 6,956,032 2,899,594 (62,466) 2,408,308
Plan fiduciary net position - beginning 56,402,765 58,658,250 51,702,218 48,802,624 48,865,090 46,456,782
Plan fiduciary net position - ending (b) 64,577,487 56,402,765 58,658,250 51,702,218 48,802,624 48,865,090
Net pension liability(asset) - ending (a) - (b)(67,235)$ 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) 100.10% 94.39% 105.19% 98.81% 99.54% 108.61%
Covered payroll 13,543,374$ 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 -0.50% 25.49% -22.53% 5.11% 1.93% -35.51%
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 Exhibit A-4
Schedule of Contributions
Texas Municipal Retirement System
Last Seven Fiscal Years
79
Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year
2020 2019 2018 2017 2016 2015 2014
Actuarially determined contribution 2,197,460$ 2,596,092$ 1,538,670$ 1,048,848$ 941,907$ 868,363$ 738,034$
Contribution in relation of the actuarially
determined contribution 2,197,460 2,596,092 1,538,670 1,048,848 941,907 868,363 738,034
Contribution deficiency (excess)-$ -$ -$ -$ -$ -$ -$
Covered payroll 14,213,930$ 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 15.46% 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 seven 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, 2020
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; 12% soft corridor
Inflation 2.50%
Salary Increases 3.50% to 11.5% 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
2019 valuation pursuant to an experience study of
the period 2014 - 2018.
Mortality Post-retirement: 2019 Municipal Retirees of Texas Mortality Tables. The rates are projected
on a fully generational basis with scale UMP.
Pre-retirement: PUB(10) mortality tables, with the Public Safety table used for males and the
General Employee table used for females. The rates are projected on a fully generational
basis with scale UMP.
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 Three Years
81
Measurement Measurement Measurement
Year 2019 Year 2018 Year 2017
Total OPEB liability:
Service cost 23,024$ 26,293$ 21,820$
Interest 18,777 16,950 16,399
Changes of benefit terms - - -
Difference between expected and actual
experience (9,503) (5,282) -
Change in assumptions 102,645 (38,274) 41,681
Benefit payments, including refunds of
employee contributions (4,063) (3,944) (3,851)
Net changes 130,880 (4,257) 76,049
Net OPEB liability - beginning 496,639 500,896 424,847
Net OPEB liability - ending 627,519$ 496,639$ 500,896$
Covered payroll 13,543,374$ 13,146,439$ 12,835,255$
Net OPEB liability as a percentage
of covered payroll 4.63% 3.78% 3.90%
Note: Only three 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, 2020
82
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; 12% soft corridor
Inflation 2.50%
Salary Increases 3.50% to 11.5% 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
2019 valuation pursuant to an experience study of
the period 2014 - 2018.
Mortality Post-retirement: 2019 Municipal Retirees of Texas Mortality Tables. The rates are projected
on a fully generational basis with scale UMP.
Pre-retirement: PUB(10) mortality tables, with the Public Safety table used for males and the
General Employee table used for females. The rates are projected on a fully generational
basis with scale UMP.
Other Information There were no benefit changes during the year.
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, 2020
85
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
REVENUES
Taxes 696,723$ 696,723$ 856,926$ 160,203$
Intergovernmental 704,675 704,675 654,675 (50,000)
Investment earnings 5,000 5,000 5,934 934
Total revenues 1,406,398 1,406,398 1,517,535 111,137
EXPENDITURES
Principal retirement 1,404,898 1,404,898 1,129,928 274,970
Interest and fiscal charges 1,500 1,500 106,470 (104,970)
Total expenditures 1,406,398 1,406,398 1,236,398 170,000
Deficiency of revenues
under expenditures - - 281,137 281,137
Net change in fund balance - - 281,137 281,137
FUND BALANCE, beginning of year 844,866 844,866 844,866 -
FUND BALANCE, end of year 844,866$ 844,866$ 1,126,003$ 281,137$
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, 2020
90
Voluntary Police Asset Tree Library
Voluntary Park Library Forfeiture Preservation Donation
Cash and cash equivalents 2,383$ 43,879$ 6,675$ 1,333$ 63,546$
Investments 1,363,926 465,086 12,143 253,800 -
Accounts receivable - - - - -
Due from other funds - - - - -
Due from other governments - - - - -
Accrued interest 3,652 - - - -
TOTAL ASSETS 1,369,961$ 508,965$ 18,818$ 255,133$ 63,546$
LIABILITIES
Accounts payable -$ -$ -$ -$ -$
Accrued liabilities - - - - -
Due to other funds 25,000 - - - -
TOTAL LIABILITIES 25,000 - - - -
FUND BALANCES
Restricted - - 18,818 - 63,546
Committed 1,344,961 508,965 - 255,133 -
Assigned - - - - -
TOTAL FUND BALANCES 1,344,961 508,965 18,818 255,133 63,546
TOTAL LIABILITIES AND FUND BALANCES 1,369,961$ 508,965$ 18,818$ 255,133$ 63,546$
LIABILITIES AND FUND BALANCES
ASSETS
Special Revenue
Exhibit B-2
91
Recreational Kidsville Special
Event LEOSE Crime Distric t Maintenance Donations
15,835$ 4,366$ 671,463$ -$ 46,652$
- - 606,101 - -
- - - - -
- - - - -
- - 419,707 - -
- - - - -
15,835$ 4,366$ 1,697,271$ -$ 46,652$
-$ -$ 110$ -$ -$
- - 27,266 - -
- - - - -
- - 27,376 - -
- 4,366 1,669,895 - 46,652
- - - - -
15,835 - - - -
15,835 4,366 1,669,895 - 46,652
15,835$ 4,366$ 1,697,271$ -$ 46,652$
Special Revenue
City of Colleyville, Texas
Non-Major Governmental Fund
Combining Balance Sheet
September 30, 2020
92
Court Court Juvenile Case Hotel
Technology Security Grant Fund Public Art Manager Tax Fund
ASSETS
Cash and cash equivalents 9,676$ 1,889$ 6,397$ 2,033$ 24,486$ 63,164$
Investments 6,122 24,635 - 6,089 - 323,365
Accounts receivable - - 98,980 - - -
Due from other funds - - - - - -
Due from other governments - 5,452 - - - 12,477
Accrued interest - - - - - -
TOTAL ASSETS 15,798$ 31,976$ 105,377$ 8,122$ 24,486$ 399,006$
LIABILITIES AND FUND BALANCES
LIABILITIES
Accounts payable -$ -$ 857$ -$ -$ -$
Accrued liabilities - 219 - - - -
Due to other funds - - 100,000 - - -
TOTAL LIABILITIES - 219 100,857 - - -
FUND BALANCES
Restricted 15,798 31,757 4,520 - 24,486 399,006
Committed - - - - - -
Assigned - - - 8,122 - -
TOTAL FUND BALANCES 15,798 31,757 4,520 8,122 24,486 399,006
TOTAL LIABILITIES AND FUND BALANCES 15,798$ 31,976$ 105,377$ 8,122$ 24,486$ 399,006$
Special Revenue
Exhibit B-2
93
Total
Vehicle/ Non-Major
Colleyville Parks Park Land Equipment Governmental
Tomorrow Tomorrow Dedication Replacement Funds
2,489$ 19,343$ 73,879$ 109,807$ 1,169,295$
2,580,346 1,065,813 809,095 710,200 8,226,721
- - - 49,325 148,305
- - 535,000 335,000 870,000
- - - - 437,636
994 - 5,260 2,268 12,174
2,583,829$ 1,085,156$ 1,423,234$ 1,206,600$ 10,864,131$
-$ -$ 112,107$ 5,460$ 118,534$
- - 23,584 - 51,069
- - - - 125,000
- - 135,691 5,460 294,603
- - - - 2,278,844
2,583,829 1,085,156 1,287,543 - 7,065,587
- - - 1,201,140 1,225,097
2,583,829 1,085,156 1,287,543 1,201,140 10,569,528
2,583,829$ 1,085,156$ 1,423,234$ 1,206,600$ 10,864,131$
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, 2020
94
Voluntary Police Asset Tree Library
Voluntary Park Library Forfeiture Preservation Donation
REVENUES
Taxes -$ -$ -$ -$ -$
Fines and forfeitures - - - - -
Intergovernmental - - - - -
Grants/contributions 175,243 175,243 - - 19,474
Investment earnings 13,546 3,737 141 2,296 348
Miscellaneous - - 9,428 - -
Total revenues 188,789 178,980 9,569 2,296 19,822
EXPENDITURES
Current:
General government 44,228 - - - -
Fire and rescue - - - - -
Leisure services - 135,183 - - 15,713
Municipal court - - - - -
Police services - - 600 - -
Capital outlay 99,541 16,025 8,000 - -
Total expenditures 143,769 151,208 8,600 - 15,713
Excess (deficiency) of revenues over
expenditures 45,020 27,772 969 2,296 4,109
OTHER FINANCING SOURCES (USES)
Proceeds from the sale of property - - - - -
Transfers in - - - - -
Transfers out - - - - -
Total other financing sources (uses) - - - - -
NET CHANGE IN FUND BALANCES 45,020 27,772 969 2,296 4,109
FUND BALANCES, BEGINNING OF YEAR 1,299,941 481,193 17,849 252,837 59,437
FUND BALANCES, END OF YEAR 1,344,961$ 508,965$ 18,818$ 255,133$ 63,546$
Special Revenue
Exhibit B-3
95
Recreational Kidsville Special
Event LEOSE Crime District Maintenance Donations
-$ -$ 1,951,705$ -$ -$
- - - - -
- 3,872 - - -
- - - - 36,033
90 13 8,686 14 275
- - 6,044 - -
90 3,885 1,966,435 14 36,308
- - - - -
- 828 - - 11,541
- - - 5,942 14,344
- - - - -
- - 1,371,546 - 11,332
- - 343,313 - -
- 828 1,714,859 5,942 37,217
90 3,057 251,576 (5,928) (909)
- - 129,456 - -
- - - - -
- - (10,000) - -
- - 119,456 - -
90 3,057 371,032 (5,928) (909)
15,745 1,309 1,298,863 5,928 47,561
15,835$ 4,366$ 1,669,895$ -$ 46,652$
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, 2020
96
Court Court Public Juvenile Case Hotel
Technology Security Grant Fund Art Manager Tax Fund
REVENUES
Taxes -$ -$ -$ -$ -$ 113,691$
Fines and forfeitures 17,444 17,357 - - 62,024 -
Intergovernmental 29,904 8,879 - - - -
Grants/contributions - - 261,376 - - -
Investment earnings 96 349 46 65 78 3,823
Miscellaneous - - - - - 373
Total revenues 47,444 26,585 261,422 65 62,102 117,887
EXPENDITURES
Current:
General government - - 13,724 - - -
Fire and rescue - - 176,258 - - -
Leisure services - - 8,178 - - 204,037
Municipal court 39,683 34,115 - - 53,798 -
Police services - - 778 - - -
Capital outlay - - 131,621 - - 14,418
Total expenditures 39,683 34,115 330,559 - 53,798 218,455
Excess (deficiency) of revenues over
expenditures 7,761 (7,530) (69,137) 65 8,304 (100,568)
OTHER FINANCING SOURCES (USES)
Proceeds from the sale of property - - - - - -
Transfers in - - - - - -
Transfers out - - (462) - - -
Total other financing sources (uses) - - (462) - - -
NET CHANGE IN FUND BALANCES 7,761 (7,530) (69,599) 65 8,304 (100,568)
FUND BALANCES, BEGINNING OF YEAR 8,037 39,287 74,119 8,057 16,182 499,574
FUND BALANCES, END OF YEAR 15,798$ 31,757$ 4,520$ 8,122$ 24,486$ 399,006$
Special Revenue
Exhibit B-3
97
Total
Vehicle/ Non-Major
Colleyville Parks Park Land Equipment Governmental
Tomorrow Tomorrow Dedication Replacement Funds
-$ -$ -$ -$ 2,065,396$
- - - - 96,825
- - - - 42,655
- - - - 667,369
30,453 10,212 17,705 13,982 105,955
- - 48,654 - 64,499
30,453 10,212 66,359 13,982 3,042,699
- - - 85,714 143,666
- - - - 188,627
- - - - 383,397
- - - - 127,596
- - - 15,248 1,399,504
- - 287,354 796,520 1,696,792
- - 287,354 897,482 3,939,582
30,453 10,212 (220,995) (883,500) (896,883)
- - - 76,395 205,851
- - - 524,706 524,706
- - - - (10,462)
- - - 601,101 720,095
30,453 10,212 (220,995) (282,399) (176,788)
2,553,376 1,074,944 1,508,538 1,483,539 10,746,316
2,583,829$ 1,085,156$ 1,287,543$ 1,201,140$ 10,569,528$
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, 2020
98
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
REVENUES
Taxes 2,133,183$ 2,133,183$ 1,951,705$ (181,478)$
Investment earnings 8,000 8,000 14,730 6,730
Total revenues 2,141,183 2,141,183 1,966,435 (174,748)
EXPENDITURES
Police services 1,862,744 1,862,744 1,371,546 491,198
Capital outlay 262,650 262,650 343,313 (80,663)
Total expenditures 2,125,394 2,125,394 1,714,859 410,535
Excess of revenues
over expenditures 15,789 15,789 251,576 235,787
OTHER FINANCING SOURCES (USES)
Proceeds from the sale of property - - 129,456 129,456
Transfers out (10,000) (10,000) (10,000) -
Total other financing sources (uses )(10,000) (10,000) 119,456 129,456
Net change in fund balance 5,789 5,789 371,032 365,243
FUND BALANCE, beginning of year 1,298,863 1,298,863 1,298,863 -
FUND BALANCE, end of year 1,304,652$ 1,304,652$ 1,669,895$ 365,243$
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, 2020
100
Employee
Activity Sesquicentennial
Fund Fund Total
Cash and cash equivalents 3,570$ 18,598$ 22,168$
Investments - 3,323 3,323
TOTAL ASSETS 3,570$ 21,921$ 25,491$
Due to other agencies and individuals 3,570$ 21,921$ 25,491$
TOTAL LIABILITIES 3,570$ 21,921$ 25,491$
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, 2020
101
Balance Balance
10/1/2019 Additions Deletions 9/30/2020
ASSETS
Cash and cash equivalents 2,565$ 3,602$ (2,597)$ 3,570$
Accounts receivable 3 - (3) -
TOTAL ASSETS 2,568$ 3,602$ (2,600)$ 3,570$
LIABILITIES
Due to other agencies and individuals 2,568$ 3,602$ (2,600)$ 3,570$
TOTAL LIABILITIES 2,568$ 3,602$ (2,600)$ 3,570$
Balance Balance
10/1/2019 Additions Deletions 9/30/2020
ASSETS
Cash and cash equivalents 18,296$ 318$ (16)$ 18,598$
Investments 3,293 29 - 3,323
Accounts receivable 23 - (23) -
TOTAL ASSETS 21,612$ 347$ (39)$ 21,921$
LIABILITIES
Due to other agencies and individuals 21,612$ 347$ (39)$ 21,921$
TOTAL LIABILITIES 21,612$ 347$ (39)$ 21,921$
Balance Balance
10/1/2019 Additions Deletions 9/30/2020
ASSETS
Cash and cash equivalents 20,861$ 3,920$ (2,613)$ 22,168$
Investments 3,293 29 - 3,323
Accounts receivable 26 - (26) -
TOTAL ASSETS 24,180$ 3,949$ (2,639)$ 25,491$
LIABILITIES
Due to other agencies and individuals 24,180$ 3,949$ (2,639)$ 25,491$
TOTAL LIABILITIES 24,180$ 3,949$ (2,639)$ 25,491$
Employee Activity Fund
Sesquicentennial Fund
Total Agency Funds
102
This Page Intentionally Left Blank
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
2011 2012 2013 2014 2015
Governmental activities
Net investment in capital assets 83,166,142$ 83,211,988$ 84,414,252$ 89,754,051$ 98,958,693$
Restricted for:
Debt service 1,106,893 1,159,092 857,143 831,073 744,295
Court Security and technology 153,420 91,637 101,411 109,766 154,901
Grant programs 23,208 21,116 16,489 9,190 9,844
Leisure services 201,184 207,736 207,770 224,064 233,472
Economic development 1,863,900 1,998,845 2,277,373 2,733,995 2,975,894
Police 994,913 1,143,454 1,223,271 1,403,502 1,485,735
Unrestricted 24,265,699 27,752,287 27,113,566 30,119,775 34,519,503
Total governmental activities net position 111,775,359$ 115,586,155$ 116,211,275$ 125,185,416$ 139,082,337$
Business-type activities
Net investment in capital assets 38,892,098$ 38,395,708$ 39,269,943$ 41,567,161$ 44,823,618$
Restricted for:
Debt service 662,050 - - - -
Unrestricted 10,111,776 12,332,238 13,702,724 14,827,594 15,260,882
Total business-type activities net position 49,665,924$ 50,727,946$ 52,972,667$ 56,394,755$ 60,084,500$
Primary government
Net investment in capital assets 122,058,240$ 121,607,696$ 123,684,195$ 131,321,212$ 143,782,311$
Restricted for:
Debt service 1,768,943 1,159,092 857,143 831,073 744,295
Court Security and technology 153,420 91,637 101,411 109,766 154,901
Grant programs 23,208 21,116 16,489 9,190 9,844
Leisure services 201,184 207,736 207,770 224,064 233,472
Economic development 1,863,900 1,998,845 2,277,373 2,733,995 2,975,894
Streets and drainage - - - - -
Police 994,913 1,143,454 1,223,271 1,403,502 1,485,735
Unrestricted 34,377,475 40,084,525 40,816,290 44,947,369 49,780,385
Total primary governmental net position 161,441,283$ 166,314,101$ 169,183,942$ 181,580,171$ 199,166,837$
Source: Comprehensive Annual Financial Report
Fiscal Year
Table 1
107
2016 2017 2018 2019 2020
97,982,160$ 99,881,334$ 100,382,597$ 101,081,404$ 106,590,088$
692,093 612,641 1,936,893 1,476,905 1,116,977
215,142 158,853 74,767 63,506 72,041
10,751 11,530 1,554 74,119 4,520
233,290 353,561 564,555 612,500 509,204
3,456,897 4,221,531 4,471,253 4,150,118 4,479,889
1,485,771 1,560,027 1,455,308 1,318,021 1,693,079
36,767,262 35,773,373 35,878,519 35,780,949 35,586,831
140,843,366$ 142,572,850$ 144,765,446$ 144,557,522$ 150,052,629$
44,010,618$ 44,123,735$ 43,560,389$ 42,652,195$ 44,311,565$
- - - - -
17,263,830 19,185,890 22,400,538 24,441,942 24,163,534
61,274,448$ 63,309,625$ 65,960,927$ 67,094,137$ 68,475,099$
141,992,778$ 144,005,069$ 143,942,986$ 143,733,599$ 150,901,653$
692,093 612,641 1,936,893 1,476,905 1,116,977
215,142 158,853 74,767 63,506 72,041
10,751 11,530 1,554 74,119 4,520
233,290 353,561 564,555 612,500 509,204
3,456,897 4,221,531 4,471,253 4,150,118 4,479,889
- - - - -
1,485,771 1,560,027 1,455,308 1,318,021 1,693,079
54,031,092 54,959,263 58,279,057 60,222,891 59,750,365
202,117,814$ 205,882,475$ 210,726,373$ 211,651,659$ 218,527,728$
Fiscal Year
City of Colleyville, Texas
Changes in Net Position, Last Ten Fiscal Years
(Accrual Basis of Accounting)
(Unaudited)
108
2011 2012 2013 2014 2015
Expenses
Governmental activities:
General government 2,715,154$ 3,125,214$ 4,075,001$ 4,103,928$ 4,676,185$
Community development and engineering 1,402,669 1,397,839 1,429,755 1,613,311 1,582,461
Fire 4,421,496 4,321,929 4,529,225 4,625,036 5,264,026
Leisure services 4,191,960 4,124,619 4,106,822 3,776,068 4,042,252
Maintenance 412,513 400,306 494,545 575,696 684,301
Municipal court 303,839 319,445 586,709 501,604 522,422
Police 4,878,055 4,579,570 4,961,444 5,019,343 5,681,698
Streets and drainage 3,657,591 3,073,530 5,322,510 4,128,365 4,404,701
Interest on long-term debt 849,390 780,029 724,458 717,045 536,161
Total governmental activities expenses 22,832,667 22,122,481 26,230,469 25,060,396 27,394,207
Business-type activities:
Water and sewer 12,009,187 12,258,587 12,544,530 13,238,893 14,055,232
Drainage 742,160 723,994 707,647 571,886 833,599
Interest on long-term debt - - - - -
Total business-type activities expenses 12,751,347 12,982,581 13,252,177 13,810,779 14,888,831
Total primary government expenses 35,584,014$ 35,105,062$ 39,482,646$ 38,871,175$ 42,283,038$
Program revenues
Governmental activities:
Char ges for Services:
General government 97,234$ 28,408$ 15,000$ 15,000$ 17,500$
Community development 868,363 1,146,518 927,690 1,387,329 1,587,038
Fire and rescue 305,882 335,308 308,339 377,021 327,264
Leisure services 1,213,167 520,433 501,260 510,991 503,098
Municipal court 970,143 1,015,804 1,271,095 1,268,447 1,474,485
Police 70,709 81,056 70,513 71,022 75,415
Streets and drainage 296,350 338,845 316,338 347,565 802,551
Operating grants and contributions 822,056 490,069 468,361 486,689 450,559
Capital grants and contributions 405,347 381,308 1,158,050 5,943,465 7,712,266
Total governmental activities program revenues 5,049,251 4,337,749 5,036,646 10,407,529 12,950,176
Business-type activities:
Char ges for services:
Water and sewer 14,355,418 14,034,600 14,661,491 14,789,641 15,800,163
Drainage 903,089 918,323 928,863 939,868 948,565
Capital grants and contributions 168,365 169,464 876,660 2,707,835 2,362,261
Total business-type activities program revenues 15,426,872 15,122,387 16,467,014 18,437,344 19,110,989
Total primary government program revenues 20,476,123$ 19,460,136$ 21,503,660$ 28,844,873$ 32,061,165$
Net (expenses) revenue
Governmental activities (17,783,416)$ (17,784,732)$ (21,193,823)$ (14,652,867)$ (14,444,031)$
Business-type activities 2,675,525 2,139,806 3,214,837 4,626,565 4,222,158
Total primary government net expenses (15,107,891)$ (15,644,926)$ (17,978,986)$ (10,026,302)$ (10,221,873)$
General revenues and other changes in net position
Governmental activities:
Taxes:
Property taxes 12,414,948$ 12,414,457$ 12,497,692$ 12,950,832$ 13,493,621$
Franchise taxes 2,031,268 2,207,463 2,074,731 2,172,801 2,319,723
Sales taxes 5,056,597 5,495,730 5,902,557 6,472,195 6,705,914
Other 80,731 65,808 68,592 98,160 107,977
Interest on investments 95,822 108,192 77,269 39,697 100,843
Gain (Loss) on sale of capital assets - 147,969 - 810,020 -
Transfers 858,879 1,081,868 1,112,540 1,180,292 1,178,590
Miscellaneous 55,454 74,041 85,562 61,643 82,873
Total governmental activities 20,593,699 21,595,528 21,818,943 23,785,640 23,989,541
Business-type activities:
Interest on investments 38,674 4,084 38,987 23,655 52,480
Gain (Loss) on sale of capital assets - - 103,437 40,814 5,062
Transfers (858,879) (1,081,868) (1,112,540) (1,180,292) (1,178,590)
Miscellaneous - - - - -
Total business-type activities (820,205) (1,077,784) (970,116) (1,115,823) (1,121,048)
Total primary government 19,773,494$ 20,517,744$ 20,848,827$ 22,669,817$ 22,868,493$
Change in net position
Governmental activities 2,810,283$ 3,810,796$ 625,120$ 9,132,773$ 9,545,510$
Business-type activities 1,855,320 1,062,022 2,244,721 3,510,742 3,101,110
Total primary government 4,665,603$ 4,872,818$ 2,869,841$ 12,643,515$ 12,646,620$
Source: Comprehensive Annual Financial Report
Fiscal Year
Table 2
109
2016 2017 2018 2019 2020
4,449,317$ 4,881,741$ 5,330,690$ 5,791,827$ 5,788,907$
1,558,750 1,672,823 1,387,909 1,398,052 1,609,571
4,783,421 5,524,975 5,690,454 6,192,307 6,437,928
4,701,443 4,987,965 4,271,760 4,710,673 4,569,933
689,861 1,243,614 738,834 770,762 729,754
448,420 606,269 595,879 575,098 579,980
5,734,116 6,093,309 6,634,046 6,749,202 7,204,613
5,150,390 3,578,365 4,009,383 6,181,453 4,647,801
614,159 408,268 334,839 300,840 240,231
28,129,877 28,997,329 28,993,794 32,670,214 31,808,718
13,995,038 14,779,262 15,257,125 15,463,642 17,054,796
563,268 646,145 740,994 863,826 730,346
- - - - -
14,558,306 15,425,407 15,998,119 16,327,468 17,785,142
42,688,183$ 44,422,736$ 44,991,913$ 48,997,682$ 49,593,860$
15,075$ 338,857$ 35,684$ 29,800$ 14,488$
1,356,581 1,148,293 1,447,081 1,361,965 1,399,114
387,705 340,630 378,019 397,646 397,612
505,203 553,633 563,228 521,448 228,218
1,306,924 1,181,280 1,110,960 1,123,157 1,095,647
93,566 98,859 101,662 93,495 75,993
794,169 634,918 758,952 579,408 323,883
514,845 507,616 614,794 771,681 2,346,529
319,541 1,302,174 406,094 369,126 3,756,508
5,293,609 6,106,260 5,416,474 5,247,726 9,637,992
15,499,159 15,956,329 17,332,891 16,057,020 16,845,727
954,642 985,636 1,001,180 1,011,428 1,007,514
43,104 481,413 277,639 188,749 1,244,335
16,496,905 17,423,378 18,611,710 17,257,197 19,097,576
21,790,514$ 23,529,638$ 24,028,184$ 22,504,923$ 28,735,568$
(22,836,268)$ (22,891,069)$ (23,577,320)$ (27,422,488)$ (22,170,726)$
1,938,599 1,997,971 2,613,591 929,729 1,312,434
(20,897,669)$ (20,893,098)$ (20,963,729)$ (26,492,759)$ (20,858,292)$
13,790,347$ 14,548,461$ 15,471,246$ 15,676,533$ 16,075,481$
2,206,890 2,105,881 1,982,578 2,086,683 8,248,647
7,252,963 7,304,507 7,578,861 7,584,353 1,874,032
106,607 263,587 351,715 350,411 198,861
142,343 148,933 315,611 967,396 544,752
51,849 17,000 51,620 14,116 250,601
895,668 63,319 - 270,403 250,030
150,630 168,865 126,859 89,869 223,429
24,597,297 24,620,553 25,878,490 27,039,764 27,665,833
76,014 100,525 - 455,178 256,811
71,003 - - - 18,980
(895,668) (63,319) (260,238) (270,403) (250,030)
- - 183,685 18,706 42,767
(748,651) 37,206 (76,553) 203,481 68,528
23,848,646$ 24,657,759$ 25,801,937$ 27,243,245$ 27,734,361$
1,761,029$ 1,729,484$ 2,301,170$ (382,724)$ 5,495,107$
1,189,948 2,035,177 2,537,038 1,133,210 1,380,962
2,950,977$ 3,764,661$ 4,838,208$ 750,486$ 6,876,069$
Fiscal Year
City of Colleyville, Texas Table 3 Fund Balances, Governmental Funds (Modified Accrual Basis of Accounting) Last Ten Fiscal Years (Unaudited) 110 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020General fundNonspendable 2,147$ 132,664$ 1,759$ 1,269$ 2,119$ 9,388$ 11,152$ -$ 1,291$ 818$ Committed 706,942 813,536 813,536 813,536 813,536 796,438 682,156 659,712 655,546 655,546 Unassigned 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 12,614,900 Total general fund10,932,321$ 12,708,825$ 11,822,011$ 10,895,422$ 9,552,401$ 9,525,446$ 9,560,068$ 9,651,711$ 9,759,336$ 13,271,264$ All other governmental fundsNon-spendable -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Restricted 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 7,884,736 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 22,934,331 Assigned 1,148,548 954,818 910,611 765,908 812,939 996,929 1,119,062 1,445,725 1,507,341 1,255,097 Unassigned - - (4,975) - - - - - - - Unassigned, reported in:Special revenue funds - - - - - - - - - - Capital projects funds - - - - - - - - - - Total all other governmental funds17,969,806$ 20,042,646$ 20,358,601$ 25,130,987$ 27,490,512$ 29,531,901$ 30,971,425$ 32,585,672$ 33,991,788$ 32,074,164$ 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 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020REVENUESTaxes 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$ 26,580,500$ Licenses, permits and fees 923,590 1,130,426 857,135 1,090,012 1,303,710 1,337,928 1,049,673 1,237,198 1,141,959 974,336 Capital improvement fees 281,260 322,498 300,900 333,496 785,992 766,398 612,134 744,465 568,533 315,183 Charges for services 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 1,356,673 Fines and forfeitures 1,694,993 1,030,439 1,321,927 1,577,564 1,571,510 1,398,579 1,485,658 858,709 806,572 728,418 Interest 95,823 110,550 77,269 39,697 100,842 142,330 148,909 315,611 967,396 550,796 Intergovernmental 541,709 124,056 76,506 556,954 1,377,763 224,367 668,469 950,817 854,005 856,720 Grants/Contributions 602,401 406,789 487,066 918,613 981,282 421,497 449,130 328,598 667,736 2,062,719 Miscellaneous 70,453 89,041 100,562 76,643 97,873 165,642 183,889 127,626 85,935 313,260 Total revenues 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 33,738,605 EXPENDITURESGeneral government 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 4,447,211 Community development 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 1,642,331 Fire 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 6,046,058 Police 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 6,442,739 Leisure services 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 3,518,790 Streets and drainage 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 2,369,362 Municipal court 302,666 319,084 586,911 501,027 508,566 461,393 5,498,406 595,879 575,098 579,980 Maintenance 405,911 394,830 489,685 570,011 662,480 690,007 1,515,283 701,424 744,107 670,108 Capital outlay 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 5,194,206 Debt servicePrincipal retirement 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 1,584,683 Interest and fiscal charges 838,320 757,594 697,140 716,228 524,414 563,660 420,477 375,647 312,988 255,859 Total expenditures 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 32,751,327 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 940,633 1,724,973 (1,892,824) 2,010,472 (182,684) 932,583 852,754 1,042,331 1,050,634 987,278 OTHER FINANCING SOURCES (USES)Bonds issued 2,945,000 - - - - - - - - - Refunding bonds - - - 7,330,000 - 6,225,000 - - - - Capital lease - 894,534 209,425 - - - 541,073 356,459 Sale of capital assets 7,098 147,969 - 925,033 20,598 95,796 17,000 50,651 14,116 326,996 Premium on bond issue 6,561 - - - - 239,163 - - Payments to escrow(3,012,910) - - (7,600,000) - (6,373,776) - - Transfers in 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 2,275,198 Transfers out(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) (2,025,168) Total other financing sources (uses)804,628 2,124,371 1,321,965 1,835,325 1,199,188 1,081,851 621,392 667,348 284,519 577,026 NET CHANGE IN FUND BALANCES1,745,261$ 3,849,344$ (570,859)$ 3,845,797$ 1,016,504$ 2,014,434$ 1,474,146$ 1,709,679$ 1,335,153$ 1,564,304$ Debt service as a percentage of noncapital expenditures 14.5% 13.6% 12.3% 9.3% 8.3% 8.0% 10.4% 10.0% 8.7% 6.7% Source: Comprehensive Annual Financial ReportFiscal 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
2011 3,893,965,729 94,783,903 252,156,911 3,724,557,389 0.35590
2012 3,923,274,993 93,472,439 276,338,109 3,730,446,941 0.35590
2013 3,973,653,709 92,906,015 295,979,344 3,775,194,699 0.35590
2014 4,110,956,030 94,096,963 305,274,674 3,909,272,694 0.35590
2015 4,290,260,905 101,386,687 311,122,707 4,091,303,521 0.35590
2016 4,454,110,130 112,948,913 295,992,599 4,204,340,103 0.35590
2017 5,276,637,668 110,675,076 314,305,247 4,588,707,342 0.33910
2018 5,784,914,251 155,608,995 398,722,284 5,065,743,299 0.33383
2019 5,995,502,975 165,783,371 414,329,132 5,456,363,643 0.32080
2020 6,407,168,658 175,745,491 444,673,050 5,839,829,017 0.30681
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 District2011 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 1.45390 1.380000 1.396700 1.273000 1.510000 0.234000 0.13607 0.224429 2020 0.29043 0.01638 0.30681 1.38390 1.300000 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 SVAP III TC Colleyville LLC 46,364,260$ 0.79% Velocis Colleyville LP 26,210,380$ 0.64%
2 KRG Colleyville LLC 28,813,000 0.49% Oncor Electric Delivery Co LLC 16,678,083 0.41%
3 Oncor Electric Delivery Co LLC 19,847,303 0.34% Toll Dallas TX LLC 12,557,166 0.31%
4 LTF Real Estate MP I LLC 13,685,000 0.23% Lifetime Fitness Real Estate 12,304,570 0.30%
5 Welltower Inc 11,090,843 0.19% AC Village Park Partners LLC 10,903,756 0.27%
6 Colleyville Lofts Venture LLC 9,900,000 0.17% USMC Colleyville LLC 10,057,253 0.25%
7 Atmos Energy/Mid Tex Division 9,436,990 0.16% Wal-Mart Real Estate Business Trust 8,487,901 0.21%
8 Colleyville Lodging LLC 7,965,476 0.14% RCC Village Properties LTD 8,142,369 0.20%
9 Mainvue TX LLC 7,044,412 0.12% Colleyville Riverwalk LP 5,925,000 0.14%
10 Eagle-Colleyville Towne Square 6,977,649 0.12% Robert & Cynthia McCormick 4,396,800 0.11%
Total 161,124,933$ 2.75%Total 115,663,278$ 2.84%
Total assessed valuation 5,839,829,017 100.00% Total assessed valuation 4,091,303,521 100.00%
Source: Tarrant Appraisal District
a Taxpayers are assessed on January 1, 2019 (2019 tax year) for the 2020 fiscal year.
b Taxpayers are assessed on January 1, 2014 (2014 tax year) for the 2015 fiscal year.
20152020
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
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% 77,390 13,159,419 99.97%
2013 13,291,462 13,207,902 99.37% 77,946 13,285,848 99.96%
2014 13,722,602 13,681,269 99.70% 33,625 13,714,894 99.94%
2015 14,305,704 14,242,584 99.56% 53,287 14,295,871 99.93%
2016 14,675,127 14,612,632 99.57% 38,169 14,650,801 99.83%
2017 15,508,345 15,423,832 99.46% 48,978 15,472,810 99.77%
2018 16,651,773 16,590,832 99.63% 40,152 16,590,832 99.63%
2019 16,902,499 16,847,431 99.70% 58,840 16,877,275 99.85%
2020 17,317,428 17,220,445 99.44% - 17,220,445 99.44%
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 30,277,800 1.30% 57,689,200 2.62%
School District 23,583,400 1.00% 50,102,700 2.28%
Homeowners Assoc 22,184,800 1.00% 27,466,600 1.25%
Shopping Center 21,242,200 0.90% 11,122,300 0.51%
Fitness Center 11,369,800 0.50% 10,930,700 0.50%
Cemetery 11,369,800 0.50% 6,075,800 0.28%
Irrigation 6,472,500 0.30% - - %
Radio Broadcasting 4,012,800 0.20% - - %
Car Wash 3,339,900 0.10% - - %
Grocery Store 3,224,000 0.10% - - %
Total 137,077,000 5.90% 163,387,300 7.44%
Notes: City chose not to include the exact names to protect the customers confidentiality.
Source: City utility billing records
2020 2011
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 a2011 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 5,235,000 443,675 225,279 - 250,000 - - 10,308,954 4969.66% 406 2020 3,110,000 4,775,000 358,747 208,716 - 125,000 - - 8,577,463 4055.06% 334 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
2011 11,510,000 1,106,893 10,403,107 0.28% 503
2012 9,933,921 1,159,092 8,774,829 0.24% 433
2013 8,639,056 857,143 7,781,913 0.21% 374
2014 7,660,000 831,073 6,828,927 0.17% 323
2015 6,920,000 744,295 6,175,705 0.15% 290
2016 8,550,000 692,093 7,857,907 0.19% 353
2017 7,363,957 612,641 6,751,316 0.15% 299
2018 5,665,000 697,975 4,967,025 0.10% 227
2019 4,155,000 844,867 3,310,133 0.06% 164
2020 3,110,000 1,188,908 1,921,092 0.03% 121
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, 2020
(Unaudited)
119
Gross Bonded
Debt
Percentage of
Debt Applicable
to Area
Share of
Overlapping
Debt
Debt repaid with property taxes
Birdville Independent School District 440,974,599$ 0.07% 308,682$
Carroll Independent School District 346,705,000 0.37% 1,282,809
Grapevine-Colleyville Independent School District 399,400,437 22.76% 90,903,539
Hurst-Euless-Bedford Independent School District 364,720,000 1.58% 5,762,576
Keller Independent School District 992,714,060 3.50% 34,744,992
Tarrant County 240,445,000 2.96% 7,117,172
Tarrant County College District 264,175 3.17% 8,374
Tarrant County Hospital District 16,135,000 2.96% 477,596
Subtotal, overlapping debt 140,605,740
City of Colleyville (direct debt) 3,468,747 100.00% 3,468,747
Total direct and overlapping debt 144,074,487$
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
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
2020 16,418,116 15,154,408 1,263,708 - 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
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
2020 1,034,662 691,758 342,904 125,000 2.74 2,096,882 600,752 3.49
Drainage Revenue Bonds Sales Tax Bonds
City of Colleyville, Texas Table 14
Demographic and Economic Statistics
Last Ten Calendar Years
(Unaudited)
122
Per Capita
Fiscal Estimated Personal Personal School Unemployment
Year Population
a Income Income Enrollment
b Rate c
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%
2020 25,700 211,525 76,635 13,970 3.2%
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 698 6.84%Market Street 345 3.33% Market Street 369 3.62%Lifetime Fitness 250 2.41% Lifetime Fitness 230 2.26%City of Colleyville 206 1.99% City of Colleyville 192 1.88%Covenant Christian Academy 130 1.26% Covenant Christian Academy 107 1.05%Whole Foods Market 125 1.21% TGW Insurance 95 0.93%Albertsons 118 1.14% Albertsons 80 0.78%LaHacienda Ranch 100 0.97% LaHacienda Ranch 75 0.74%Walmart Neighborhood Market 72 0.70% Mac's Steak and Seafood 64 0.63%US Memory Care 60 0.58% Sonshine Academy 60 0.59%Total 2,017 19.47% Total 1,970 19.32%Total Colleyville Daytime Employee10,358 Total Colleyville Daytime Employee10,198Source: City of Colleyville Economic Development 20202011
City of Colleyville, Texas Table 16 Full-Time Equivalent City Government Employees by Function/Program Last Ten Fiscal Years (Unaudited) 124 Function/Program 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020General governmentManagement services 4.00 4.00 4.00 4.00 4.00 3.75 5.00 4.20 3.20 3.20 Finance/court 6.00 6.00 8.00 8.00 8.00 8.00 9.00 9.00 9.00 9.00 Planning2.00 2.00 2.00 4.00 3.00 4.00 4.00 4.00 4.00 4.00 Building4.00 3.00 3.00 3.50 5.00 5.00 5.00 5.00 5.00 5.00 Other 11.00 11.00 13.00 11.63 13.52 14.14 12.14 12.80 11.80 11.80 PoliceOfficers 38.00 39.00 40.00 41.00 42.50 43.00 43.00 41.00 41.00 44.00 Civilians 6.00 6.00 6.00 6.50 7.00 6.50 6.00 8.00 8.00 6.73 FireFirefighters and officers 33.00 35.00 36.00 38.00 41.00 41.00 41.00 40.00 40.00 43.00 Civilians 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.50 1.50 1.50 Other public worksEngineering4.50 3.00 3.00 4.05 3.95 4.75 2.75 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 2.00 Streets 10.00 10.00 7.00 8.35 8.35 8.35 8.35 8.35 8.35 8.85 Parks and recreation 16.00 16.00 16.00 15.75 15.00 15.00 17.00 17.00 16.00 16.00 Library 11.50 11.50 12.00 13.00 13.63 13.00 13.00 13.00 12.50 12.50 Colleyville Center 4.50 4.50 3.50 4.00 4.50 4.50 4.00 4.00 4.00 4.00 Water/wastewater 24.00 24.50 23.00 24.68 25.03 24.23 25.60 24.70 24.70 24.70 Drainage6.00 6.00 7.00 6.00 6.00 6.41 6.41 6.20 6.20 6.20 Total184.50 185.50 187.50 196.46 204.48 205.63 206.25 204.50 201.00 205.23 Source: City budgetFiscal Year
City of Colleyville, Texas Table 17 Operating Indicators by Function/Program Last Ten Fiscal Years (Unaudited) 125 Function/Program 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020General governmentBuilding permits issued 104 155 103 108 181 182 136 169 111 82Building inspections conducted 6,737 8,310 8,292 7,807 7,307 8,940 10,666 11,981 10,519 7,321PolicePhysical arrests 666 653 632 863 800 918 602 715 491 190Calls for service 27,254 48,076 61,270 58,522 51,537 43,492 34,437 33,765 30,296 51,364Traffic violations 11,354 11,980 11,766 19,955 21,450 20,790 13,016 15,832 12,804 4,603FireEmergency responses 830 724 557 627 694 1,783 1,768 1,758 1,797 1,779Ambulance calls 765 803 829 950 959 1,037 967 1,000 1,004 939Inspections 397 342 306 317 363 400 361 239 386 352Other public worksStreet resurfacing (miles) 6.2 1.0 4.0 1.7 3.7 10.9 6.8 6.0 21.9 7.0Parks and recreationAthletic field participants 4,378 3,946 4,287 4,315 4,434 4,302 4,517 4,386 4,570 2,500Community center rentals 410 404 398 412 452 376 405 320 314 0LibraryVolumes in collection 62,997 65,740 69,736 74,525 77,664 80,452 82,182 71,188 70,161 74,939Total volumes borrowed 235,238 244,613 250,737 234,667 228,160 222,128 227,252 237,124 234,477 145,218WaterCustomers 9,103 9,285 9,396 9,507 9,631 9,858 9,987 10,215 10,422 10,487Average daily consumption (thousands of gallons) 7,928 7,217 6,785 6,539 6,451 5,889 6,355 6,508 6,794 7,274Peak daily consumption (thousands of gallons) 18,935 18,707 17,052 15,204 19,866 15,724 12,434 15,830 14,616 17,562WastewaterCustomers 8,457 8,603 8,731 8,817 8,905 9,071 9,270 9,444 9,453 9,619Source: City departmentsFiscal Year
City of Colleyville, Texas Table 18 Capital Asset Statistics by Function/Program Last Ten Fiscal Years (Unaudited) 126 Function/Program 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020Police Stations 1 1 1 1 1 1 1 1 1 1 Patrol units 13 12 12 12 13 13 13 13 13 13 FireStations 3 3 3 3 3 3 3 3 3 3 Public worksStreets (miles) 282 282 282 283 283 283 289 289 289 289 Streetlights 1,169 1,169 1,175 1,175 1,227 1,269 1,269 1,338 1,338 1,338 Traffic signals 2 2 2 2 2 2 2 2 2 2 Parks and recreationAcreage 224 224 224 224 224 225 225 225 225 225 Playgrounds 6 6 6 6 6 7 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) 195 201 202 204 205 206 206 206 206 206 Fire hydrants 1,362 1,389 1,389 1,403 1,422 1,507 1,517 1,521 1,529 1,529 Storage capacity 8,500 8,500 8,500 8,500 8,500 8,500 8,500 8,500 8,500 8,500 (thousands of gallons)WastewaterSanitary sewer (miles 162 169 170 172 172 179 180 180 180 180 Storm sewers (miles) 58 64 58 60 67 69 70 70 70 70 Source: City departmentsa Baseball, softball, soccer and multipurpose fields combined through 2014Fiscal Year