HomeMy WebLinkAboutFY21 Annual Comprehensive Financial Report
Prepared by Finance Department
Kyle Lester Director of Finance
Karen Hines Accounting Manager
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City of Colleyville, Texas
Annual Comprehensive Financial Report
For the Fiscal Year Ended September 30, 2021
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 23
Statement of Activities 2 24
Fund Financial Statements:
Governmental Funds Financial Statements:
Balance Sheet 3 31
Reconciliation of the Governmental Funds Balance Sheet
to the Statement of Net Position 4 32
Statement of Revenues, Expenditures, and Changes in Fund Balance 5 33
Reconciliation of the Governmental Funds Statement
of Revenues, Expenditures and Changes in
Fund Balance to the Statement of Activities 6 34
Proprietary Funds Financial Statements:
Statement of Net Position 7 36
Statement of Revenues, Expenses, and Changes in Net Position 8 37
Statement of Cash Flows 9 38
Custodial Fund Financial Statement:
Statement of Fiduciary Net Position - Employee Activity Fund 10 41
and Police Asset Forfeiture Fund
Statement of Changes in Fiduciary Net Position - Employee Activity Fund 11 42
and Police Asset Forfeiture Fund
Notes to the Basic Financial Statements 12 43
Required Supplementary Information
Budgetary Comparison Schedules:
Budgetary Comparison Schedule - General Fund A-1 76
Budgetary Comparison Schedule - Colleyville Economic Development Fund A-2 77
Notes to Budgetary Comparison Schedules 79
Schedule of Changes in Net Pension Liability and Related Ratios - TMRS A-3 80
Schedule of Contributions - TMRS A-4 81
Notes to Texas Municipal Retirement System - Net Pension Liability
Required Supplementary Information 82
Schedule of Changes in Net OPEB Liability and Related Ratios - TMRS A-5 83
Notes to Texas Municipal Retirement System- OPEB Liability 84
City of Colleyville, Texas
Annual Comprehensive Financial Report
For the Fiscal Year Ended September 30, 2021
Table of Contents – Continued
ii
Exhibit Page
Combining And Individual Fund Financial Statements And Schedules
Budgetary Comparison Schedule - Debt Service Fund B-1 87
Non-Major Governmental Funds 89
Combining Balance Sheet B-2 92
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances B-3 96
Budgetary Comparison Schedule - Crime District Fund B-4 100
Custodial Funds:
Statement of Changes in Assets and Liabilities C-1 102
Combining Statement of Changes in Fiduciary Net Position C-2 103
Statistical Section
Net Position By Component 1 108
Changes in Net Position 2110
Fund Balances - Governmental Funds 3 112
Changes in Fund Balances - Governmental Funds 4 113
Assessed Value and Estimated Actual Value of Taxable Property 5 114
Direct and Overlapping Property Tax Rates 6 115
Principal Property Tax Payers 7 116
Property Tax Levies and Collections 8 117
Principal Water Customers 9 118
Ratio of Outstanding Debt by Type 10 119
Ratio of General Bonded Debt Outstanding 11 120
Direct and Overlapping Governmental Activities Debt 12 121
Pledged Revenue Coverage 13 122
Demographic and Economic Statistics 14 124
Principal Employers 15 125
Full-Time Equivalent City Government Employees By Function/Program 16 126
Operating Indicators By Function/Program 17 127
Capital Asset Statistics By Function/Program 18 128
iii
Introductory Section
iv
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v
March 17, 2022
To the Citizens of the City of Colleyville:
The Annual Comprehensive Financial Report of the City of Colleyville (the "City") for the fiscal year ended
September 30, 2021, 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, 2021, 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 unqualified opinion that the City of
Colleyville’s financial statements for fiscal year ended September 30, 2021, are presented in conformity with
generally accepted accounting principles (GAAP).
As required by GAAP, management provides a narrative introduction, overview and analysis to accompany the
basic financial statements in the form of Management’s Discussion and Analysis (MD&A). This letter of
transmittal is designed to complement the MD&A and should be read in conjunction with it. The City’s MD&A
can be found immediately following the independent auditors report.
vi
PROFILE OF THE GOVERNMENT
On January 10, 1956, the City of Colleyville was incorporated and adopted a home-rule charter on January 15,
1977. It has a Council-Manager form of government with policy making and legislative authority vested in a
governing body consisting of a Mayor and six Council members. The Mayor and Council are responsible for
passing ordinances, adopting the budget, appointing board and committee members, and hiring the City Manager.
The City Manager is responsible for carrying out the policies and ordinances of the Mayor and Council,
overseeing the day-to-day operations of the City, and appointing department 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 s ervices 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, Hotel Tax Fund, Drainage Utility Fund, and Water
and Sewer Enterprise Fund. In conjunction with two corresponding boards of directors, the City also adopts
annual operating budgets for the Colleyville Crime Control and Prevention District as well as the Colleyville
Economic Development Corporation. 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 61 residential building permits as well as 105 permits for
residential additions and remodels. The average appraised value of a residential property was $586,348. The City
also issued 86 certificates of occupancy for new, remodeled, and expanding businesses. Finally, two new office
buildings were developed in 2021 at 1109 Glade Road and 6240 Colleyville Blvd.
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In addition to these developments, Colleyville expects to see the following developments in the near future:
A Towne Center Animal Hospital at 4401 Colleyville Blvd;
A new retail/restaurant building;
The occupation of an existing structure by HTeaO at 4917 Colleyville Blvd; and
A new dine-in movie theater occupying the space vacated by Studio Movie Grill, set to open in early
March 2021
Infrastructure projects completed in fiscal year 2021 include roundabouts on Westcoat Drive at McDonwell
School Road and John McCain Road, a right-hand turn lane at L.D. Lockett Road and Precinct Line Road, water
improvements in the Apple Valley and Rustric Trails area, multiple sidewalk segments, and improvements to the
John McCain hike & bike trail. Additionally, approximately 10 lane miles were resurfaced, including:
Black Drive
Bowden Hill
Cheshire Drive
Charismac
Devon Drive
Dorset Drive
Durham Drive
John McCain (West)
Langley Hill Lane
Lexington Parkway
Martin Parkway
Middelton
Pembrook Parkway West/South
Scarborough East/Court
Warwick
York Drive
Pleasant Run (John McCain N.)
Projects in progress or nearing completion include large scale construction projects which include utility and
drainage infrastructure along with sidewalks and trails on Pleasant Run, Glade, and Cheek-Sparger Roads, State-
Highway 26 beautification efforts, facility renovations at the public works service center, exterior site
improvements at the Justice Center, and interior renovations to the Library and City Hall complex.
For the Future. Future infrastructure, rehabilitation and renovation projects scheduled include utility and
roadway improvements on both Robert’s and Tinker Roads, connectivity sidewalk/trail construction as well as
paths on Bedford and Bransford Roads, various street resurfacing improvements in partnership with Tarrant
County, rehabilitation of the City’s historic fire station, renovations and improvements to the Senior Center,
construction of site and landscape improvements to Colleyville Gateways including tower structures along
Colleyville Boulevard from John McCain Road to Brown Trail, and water/wastewater line improvements in the
Quail Crest/Woodbriar and Pecan Park areas.
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
viii
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 2021, 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.
As a part of the annual budget process, an updated five-year forecast for the General Fund, Hotel Tax Fund, Utility
Fund, Drainage Fund, Crime Control and Prevention District Fund, Economic Development Corporation 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
ix
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 ACFR 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 annual
comprehensive financial report for the fiscal year ended September 30, 2020. This was the 32nd 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 annual comprehensive 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 annual
comprehensive 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, 2010. 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
x
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CITY OF COLLEYVILLLE, TEXAS
HOME RULE, COUNCIL – MANAGER
FORM OF GOVERNMENT
CITY OFFICIALS
YEAR ENDED SEPTEMBER 30, 2021
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, 2021, 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, 2021, and the respective changes in financial position, and, where applicable, cash
flows thereof for the year then ended in accordance with accounting principles generally accepted in
the United States of America.
The Members of the City Council and Manager of
City of Colleyville, Texas
4
Emphasis of Matter
As discussed in Note 14 to the financial statements, the City implemented Government Accounting
Standards Board (GASB) Statement No. 84, Fiduciary Activities during the year ended September 30, 2021.
Beginning net position in the custodial funds have been restated as a result of the implementation of this
statement. Our opinions are not modified with respect to this matter.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the
management’s discussion and analysis (pages 7 through 17), budgetary comparison information
(pages 76 through 77), and TMRS pension and OPEB schedules (pages 80 through 84) 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
5
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated
March 17, 2022, 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
March 17, 2022
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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, 2021.
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, 2021, by $229,178,809 (net position). Of
this amount, $59,715,281 (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 $10,644,857 over FY2020 operations.
As of the close of the current fiscal year, the City of Colleyville’s governmental funds reported
combined ending fund balances of $48,349,759.
As of September 30, 2021, unassigned fund balance for the General Fund was $10,233,533, or
44.07% 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 23 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 31 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 36 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
statements begin on page 41 of this report. The accounting used for fiduciary funds is similar to the
accounting used for proprietary funds. The City has two custodial funds: Employee Activity and Police
Asset Forfeiture Fund. The custodial 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 43 – 71 of this report.
9
Other Information – In addition to the basic financial statements and accompanying notes, this report
also presents combining fund statements and schedules that further support the information in the
financial statements. The combining fund statements and schedules for non-major funds are presented
beginning on page 92 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 $229,178,809 as of September 30, 2021.
The largest portion of the City’s net position ($159,093,107) reflects its investments in capital assets (e.g.,
land, building, equipment, improvements, construction in progress and infrastructure), less any
outstanding debt used to acquire those assets. The City uses these capital assets to provide service to
citizens; consequently, these assets are not available for future spending. Although the City’s investment
in its capital assets is reported net of related debt, it should be noted that the resources needed to repay
this debt must be provided from other sources, since the capital assets themselves cannot be used to
liquidate these liabilities.
City of Colleyville’s Net Position
2021 2020 2021 2020 2021 2020
Current and other assets 51,458,888$ 47,487,196$ 26,017,659$ 26,182,420$ 77,476,547$ 73,669,616$
Capital assets, net 116,965,637 115,042,547 45,950,733 44,435,848 162,916,370 159,478,395
Total assets 168,424,525 162,529,743 71,968,392 70,618,268 240,392,917 233,148,011
Deferred outflows of
resources 2,364,678 2,139,548 310,790 279,052 2,675,468 2,418,600
Current liabilities 2,773,761 1,786,959 2,230,938 1,744,555 5,004,699 3,531,514
Long-term liabilities 6,612,417 11,071,174 409,736 424,142 7,022,153 11,495,316
Total liabilities 9,386,178 12,858,133 2,640,674 2,168,697 12,026,852 15,026,830
Deferred inflows of
resources 1,628,018 1,755,802 234,706 253,129 1,862,724 2,008,931
Net position
Net Investment in
capital assets 113,142,374 106,590,084 45,950,733 44,311,565 159,093,107 150,901,649
Restricted 10,370,421 7,709,937 - - 10,370,421 7,709,937
Unrestricted 36,262,212 35,755,335 23,453,069 24,163,929 59,715,281 59,919,264
Total net position 159,775,007$ 150,055,356$ 69,403,802$ 68,475,494$ 229,178,809$ 218,530,850$
Activities Activities Primary Government
Governmental Business-type Total
A portion of the City’s net position ($10,370,421) represents resources that are subject to external restriction
on how they may be used. The remaining balance ($59,715,281) 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, 2021, 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 2021
governmental activities resulted in a $9,716,549 increase in net position. That increase was due to higher
revenue intake, including approximately $3.356 million in Federal Coronavirus State and Local Fiscal
Recovery funds, and continued investment in the City’s capital assets. Fiscal year 2021 business-type
activities resulted in a $928,308 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 2021, TRA refunded the City more than $1.45
million 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 $1.9 million. Conversely, FY21 was the
City’s second partial year to decline charging penalties to customers, due to the pandemic. Whereas this
revenue is typically budgeted at $200,000 annually, the City only collected a little over $82,000. Penalty
charges were reinstated for the second half of the fiscal year. The City also experienced a 1.66% 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, 2021. Governmental activities increased the City of Colleyville’s net position
by $9,716,549, and business-type activities contributed an increase to the City’s net position of $928,308.
11
City of Colleyville’s Changes in Net Position
2021 2020 2021 2020 2021 2020
Revenues:
Program revenues:
Charges for services 3,567,362$ 3,534,955$ 18,435,666$ 17,853,241$ 22,003,028$ 21,388,196$
Operating grants and
contributions 3,491,361 2,346,529 - - 3,491,361 2,346,529
Capital grants and
contributions 198,935 3,756,508 - 1,244,335 198,935 5,000,843
General revenues:
Property tax 16,398,025 16,075,481 - - 16,398,025 16,075,481
Sales tax 9,445,150 8,248,647 - - 9,445,150 8,248,647
Franchise tax 1,724,583 1,874,032 - - 1,724,583 1,874,032
Other tax 235,209 198,861 - - 235,209 198,861
Investment income 99,055 544,752 31,280 256,811 130,335 801,563
Miscellaneous 5,787,102 147,034 17,652 42,767 5,804,754 189,801
Gain on sale of
capital assets 61,287 326,996 - 18,980 61,287 345,976
Total revenues 41,008,069 37,053,795 18,484,598 19,416,134 59,492,667 56,469,929
Expenses:
General government 5,668,238 5,791,425 - - 5,668,238 5,791,425
Community development 1,591,996 1,609,571 - - 1,591,996 1,609,571
Fire and rescue 6,740,521 6,437,928 - - 6,740,521 6,437,928
Leisure services 4,499,889 4,569,933 - - 4,499,889 4,569,933
Maintenance 775,477 729,754 - - 775,477 729,754
Municipal court 638,025 579,980 - - 638,025 579,980
Police 6,978,311 7,204,613 - - 6,978,311 7,204,613
Streets and drainage 4,696,395 4,647,801 - - 4,696,395 4,647,801
Water and wastewater - - 16,334,509 17,054,471 16,334,509 17,054,471
Drainage - - 812,505 730,276 812,505 730,276
Interest on long-term debt 111,944 234,986 - - 111,944 234,986
Total expenses 31,700,796 31,805,991 17,147,014 17,784,747 48,847,810 49,590,738
Increases (decreases) in
net position before transfers 9,307,273 5,247,804 1,337,584 1,631,387 10,644,857 6,879,191
Transfers 409,276 250,030 (409,276) (250,030) - -
Change in net position 9,716,549 5,497,834 928,308 1,381,357 10,644,857 6,879,191
Net position - October 1 150,055,356 144,557,522 68,475,494 67,094,137 218,530,850 211,651,659
Cumulative effect of change in
accounting principle 3,102 - - - 3,102 -
Net position - October 1, as restated 150,058,458 144,557,522 68,475,494 67,094,137 218,533,952 211,651,659
Net position - September 30 159,775,007$ 150,055,356$ 69,403,802$ 68,475,494$ 229,178,809$ 218,530,850$
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 2021, the governmental funds’ unassigned fund balance increased by $2,515,460 due
primarily to Federal funds received from the American Rescue Plan Act (ARPA) of 2021. FY21 uses of the
$3,356,384 included:
$657,211 to recognize revenue loss, per Federal Government guidelines
$1,454,822 for public safety Fire response pay in the General fund
$417,831 for public safety Police response pay in the General fund
$155,761 for public safety Police response pay in the Crime Control and Prevention District fund
$670,759 for economic development grants in the Tax Increment Financing District fund
12
All funds receiving ARPA are classified as governmental with the exception of the Tax Increment Financing
District Fund, meaning Governmental Funds received $2,685,625 in Federal funds in FY21, most of which
stayed in the General Fund at year’s end.
Additionally, the City’s sales tax receipts came in with a 14.5% total year increase over FY20, led by sales
from online and remote purchases. This resulted in almost $1.2 million in higher revenue across the General
Fund, the Colleyville Economic Development Fund and the Crime Control and Prevention District Fund.
High capital project spending, per the adopted capital improvement plan, decreased fund balance in
some capital funds, resulting in a net increase of $2,515,460 to the governmental funds’ unassigned
balance.
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, City’s property tax revenue was almost
$340,000 over FY20 as the result of new development as well as a higher-than-anticipated collection rate.
Sales tax is the second largest revenue source and, as reported above, it finished the year with a 14.5%
increase over FY20. As COVID-related economic restrictions eased up in the Spring, patronization of
restaurants and other small businesses began to increase. However, as with the previous year the City
continued its targeted promotion and grant programs to assist with small business improvements and
advertising as well as encourage citizens to continue to shop locally. The following programs detail the
efforts the city gave to encourage economic improvements and activity within its boundaries:
Program Description
FY21
Amount
Spent
Gift Cards (5 rounds) $35 gift cards mailed
directly to residents and
accepted by area
businesses. The businesses
would then redeem these
at City Hall.
915,585$
Façade Improvement Grants Grants designed to assist
businesses with signage
and façade improvements.
159,869$
Advertising/Promotional Grants Grants designed to help
promote and advertise
businesses within Colleyville
City limits
101,000$
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.
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 2021 excess fund balance allowed the Council to authorize a total
transfer of $1,792,779 from the General Fund to the Capital Projects Fund, in addition to the originally
budgeted transfers of $1,500,000 from the General Fund and $127,415 from the Utility Capital Fund, for a
total inter-fund transfer in of $3,420,194. These transfers are in accordance with the City’s policy to cash
fund its capital improvement plan instead of relying on debt financing. 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.
13
Fiscal year 2021 Debt Service Fund balance decreased by $59,206 due to an adjustment in the State-
mandated tax calculations that now account for any from previous years’ property tax collections that
exceeded budget. 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 in nature.
Proprietary Funds- The unrestricted net position of the proprietary funds are $21,431,899 for the Water and
Wastewater Fund and $2,021,170 for the Drainage Utility Fund. Additionally, fiscal year 2021 activities
resulted in a total net position increase of $727,412 in the Water and Sewer fund and $200,896 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 $1.26 million, this shortage was
on the volumetric side of Colleyville’s rates, and was more than offset by lower fees from the Trinity River
Authority. As a result, the Water and Wastewater operating fund ended with a large budget surplus of
over $1.9 million. Spending in the water and wastewater capital fund dropped this surplus to $727,412.
Drainage charges tend to be much more stable and came in at $6,323 above FY20 and more than
$46,000 above budget.
Governmental Activities – There was an increase of $3,954,244 in governmental activities revenue
compared to fiscal year 2020. The bulk of this increase came from the federal American Rescue Plan Act,
which granted $3,356,385 to the City for operational and capital costs in response to the COVID
pandemic. Additionally, Colleyville’s strong residential property tax base helps mitigate the negative
effects of economic fluctuations. Property values experienced a 2% growth over the prior year’s certified
values. Despite the tax rate reduction from $0.30680700/$100 valuation to $0.304365/$100 valuation, the
City’s actual property tax revenue was over $336,000 more than last year. Total sales tax revenues
increased by an impressive 14.5%, or almost $1.2 m illion across the City. COVID-related closures continued
through the first two quarters of the year, which resulted in storefront and restaurant closures/restrictions.
However, Colleyville consumers continued to shift their buying habits 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
continued losses in hotel occupancy tax revenue. Franchise taxes decreased over FY21 by $103,000 due
to changes made by the 86th Texas Legislature, and hotel occupancy taxes remained relatively stagnant
from FY20. This marks the second year hotel taxes have come up short from its FY19 peak of $251,000 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 $17,439,917 for
the fiscal year for an increase of $1,364,191 from fiscal year 2020. While consumption was lower than the
previous fiscal year, increases to the City’s base rate and the Trinity River Authority’s (the Authority)
volumetric rates, as well as a slight increase in Colleyville’s customer base, can be attributed to the
revenue increase. Adding to the Utility’s surplus was a substantial refund from the Authority for
overpayment in the previous fiscal year in the amount of $1,142,481. Furthermore, the Authority did not
invoice Colleyville for water usage in the last two months of its fiscal year, resulting in the City collecting
14
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 slightly under FY20, with a small increase in drainage fees being offset
by a decrease in interest earnings. Expenses were higher than FY20 by more than $86,000 due primarily to
a full-time equivalent position being reallocated into this fund from the General Fund in FY21. In total, the
Drainage Utility posted a $200,896 surplus, which will be reserved for use on the City’s 5-year capital
improvement plan.
General Fund Budgetary Highlights – With the FY21 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, FY21 was the third
year that the City adopted an effective property tax rate, meaning properties on both the 2020 and 2021
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 and sales 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
tenured employees into their ranges based on years of service to address compression. The FY21 budget
continued to reflect the City Council’s bold vision of fully implementing the recommendations of the 2017
Compensation and Classification Study by providing annual merit raises for all staff. A new compensation
study will commence in FY22 in order to continue to keep up with the pace of the labor market.
Not counting the Federal ARPA and CARES Act funding, the General Fund’s surplus was significantly lower
than the previous year due to lower turnover and supplies and contractual expenses, some of which was
related to repairs and electricity costs from the February storm.
Refer to the General Fund Budgetary Comparison Schedule on page 76 of this report for a detailed
presentation of the actual General Fund operations compared to both the original and final budget for
fiscal year 2021.
Capital Assets
The City of Colleyville’s investment in capital assets for its governmental and business-type activities as of
September 30, 2021 amounts to $162,916,370, 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 $2.4 million in street improvements, including Glade Road, Phase 2, 3, 4 design
($1.168m) and the John McCain Hike & Bike Trail ($1.065m).
Capitalized almost $1.3 million for facility renovations, including a metal roof and interior
renovations for the Colleyville Center (a total of $382,885), and renovations for Nature Center.
City of Colleyville’s Capital Assets at Year End
15
2021 2020 2021 2020 2021 2020
Land 9,178,641$ 9,178,641$ 304,839$ 304,839$ 9,483,480$ 9,483,480$
Buildings and improvements 54,606,970 52,412,241 60,859 53,922 54,667,829 52,466,163
Equipment 14,853,817 14,451,083 2,806,093 2,284,467 17,659,910 16,735,550
Infrastructure/water distribution
sewer collection 110,508,766 108,756,174 86,441,334 84,064,463 196,950,100 192,820,637
Construction in progress 4,701,098 3,331,988 3,055,761 2,261,840 7,756,859 5,593,828
Less: accumulated depreciation (76,883,655) (73,087,581) (46,718,153) (44,533,683) (123,601,808) (117,621,264)
Total capital assets, net 116,965,637$ 115,042,546$ 45,950,733$ 44,435,848$ 162,916,370$ 159,478,394$
Primary GovernmentActivities Activities
Governmental Business-type Total
Additional information on the City’s capital assets can be found in Note 5, pages 56 – 58 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 $3,823,263. Of this amount, $2,700,000 represents bonded debt backed by
the full faith and credit of the government, and $950,475 represents debt from capital leases.
Outstanding Debt and Year End
Bonds, Notes and Capitalized Lease Obligations Payable
2021 2020 2021 2020 2021 2020
General obligation bonds and
certificates of obligation 2,700,000$ 3,110,000$ -$ -$ 2,700,000$ 3,110,000$
Sales tax revenue bonds - 4,775,000 - - - 4,775,000
Revenue bonds payable - - - 125,000 - 125,000
Capital lease obligations 950,475 358,747 - 950,475 358,747
Bond premiums 172,787 208,716 - - 172,787 208,716
Total long-term debt 3,823,262$ 8,452,463$ -$ 125,000$ 3,823,262$ 8,577,463$
Long-term debt to net
position percentage 2% 6% 0% 0% 2% 4%
Activities Activities Primary Government
Governmental Business-type Total
16
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 59 – 62 of this report
Economic Factors and Next Year’s Budgets and Rates
The properties in Colleyville City Limits are predominately residential, which tends to help 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 4% in total from 2020 to 2021. 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 annual operating revenue, and it has endured two major disruptions in the past several
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 in 2020 and 2021 as
COVID-19 restricted commerce in the City’s restaurant and in-person services sectors. For several
surrounding communities, Colleyville included, consumers shifted their purchasing habits to online
vendors, meaning that while brick-and-mortar storefronts felt significant financial pressure Colleyville
maintained an increasing trajectory for its overall sales tax. As a result, Colleyville ended the year with an
14.5% increase in sales tax for FY21. Acknowledging the difficulty facing businesses within City boundaries,
Colleyville staff responded to these by providing grants to businesses and gift cards to residents to
encourage local economic activity. As is the City’s policy, sales tax has been budgeted conservatively
with slight growth for FY22 and limited growth in future years. As of the date of this report, the City’s first FY
2022 collection has shown a remarkable 19.5% increase over FY 2021.
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 about 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 2.5% 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.
17
The fiscal year 2022 budget provides a staffing level of 208.09 full-time equivalents (FTEs), about 1.5 FTEs
more than in fiscal year 2021, reflecting one additional full-time staff member and one part-time staffer
bumped up to full-time, both in the Fire Department. Staff accomplished this by relying on the Colleyville
Economic Development Corporation and the Crime Control and Prevention District to take on additional
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 2022 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 costs. 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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19
Basic Financial Statements
20
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21
Government-Wide
Financial Statements
22
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City of Colleyville, Texas Exhibit 1
Statement of Net Position
September 30, 2021
The Notes to the Financial Statements are an integral part of this statement.
23
Governmental Business-type Component
Activities Activities Total Units
ASSETS
Cash and cash equivalents 7,046,326$ 4,314,819$ 11,361,145$ 1,571,821$
Investments 31,948,941 18,115,514 50,064,455 597
Receivables (net of allowance for uncollectibles of $350,870)
Accounts 226,228 3,345,866 3,572,094 1,594,981
Taxes 1,141,057 - 1,141,057 -
Loans 10,127,500 - 10,127,500 -
Due from other governments 905,558 - 905,558 -
Inventories 1,566 204,425 205,991 -
Prepaid items 21,584 - 21,584 -
Restricted assets:
Investments - 33,608 33,608 -
Accrued interest 40,128 3,427 43,555 14,545
Capital assets:
Non-depreciable 13,879,739 3,360,600 17,240,339 37,087,207
Depreciable (net of depreciation) 103,085,898 42,590,133 145,676,031 19,514,341
Total assets 168,424,525 71,968,392 240,392,917 59,783,492
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows - TMRS pension and OPEB 2,364,678 310,790 2,675,468 -
Total deferred outflows of resources 2,364,678 310,790 2,675,468 -
LIABILITIES
Accounts payable 1,909,315 1,426,594 3,335,909 834,421
Accrued liabilities 672,465 104,171 776,636 608,675
Accrued interest payable 32,354 - 32,354 12,976
Advances from developers 113,424 185,893 299,317 -
Customer deposits 46,203 514,280 560,483 -
Non-current liabilities:
Due within one year 1,117,529 18,198 1,135,727 -
Due in more than one year 4,600,526 267,509 4,868,035 10,000,000
Net pension liability 215,335 26,143 241,478 -
OPEB liability 679,027 97,886 776,913 -
Total liabilities 9,386,178 2,640,674 12,026,852 11,456,072
DEFERRED INFLOWS OF RESOURCES
Deferred inflows - TMRS pension and OPEB 1,628,018 234,706 1,862,724 -
Total deferred inflows of resources 1,628,018 234,706 1,862,724 -
NET POSITION
Net investment in capital assets 113,142,374 45,950,733 159,093,107 46,601,548
Restricted:
Debt service 1,059,604 - 1,059,604 -
Court security and technology 102,662 - 102,662 -
Grant programs 1,431 - 1,431 -
Leisure services 343,159 - 343,159 -
Economic development 6,217,460 - 6,217,460 -
Police 2,623,797 - 2,623,797 -
Historical purposes 22,308 - 22,308 -
Unrestricted 36,262,212 23,453,069 59,715,281 1,725,872
TOTAL NET POSITION 159,775,007$ 69,403,802$ 229,178,809$ 48,327,420$
Primary Government
City of Colleyville, Texas
Statement of Activities
For the Fiscal Year Ended September 30, 2021
The Notes to the Financial Statements are an integral part of this statement.
24
Operating Capital
Charges for Grants and Grants and
Expenses Services Contributions Contributions
PRIMARY GOVERNMENT
Governmental activities:
General government 5,668,238$ 28,033$ 2,771,850$ 198,935$
Community development 1,591,996 1,131,498 - -
Fire and rescue 6,740,521 399,288 222,675 -
Leisure services 4,499,889 453,096 382,237 -
Maintenance 775,477 - - -
Municipal court 638,025 1,222,696 - -
Police 6,978,311 65,379 114,599 -
Streets and drainage 4,696,395 267,372 - -
Interest on long-term debt 111,944 - - -
Total governmental activities 31,700,796 3,567,362 3,491,361 198,935
Business-type activities:
Water and sewer 16,334,509 17,422,265 - -
Drainage 812,505 1,013,401 - -
Total business-type activities 17,147,014 18,435,666 - -
TOTAL PRIMARY GOVERNMENT 48,847,810$ 22,003,028$ 3,491,361$ 198,935$
COMPONENT UNIT
Tax increment financing 8,769,162$ -$ -$ -$
Total component unit 8,769,162$ -$ -$ -$
General revenues and transfers:
Taxes:
Property taxes
Sales taxes
Franchise taxes
Other taxes
Interest on investments
Gain on sale of capital assets
Miscellaneous
Transfers
Total general revenues and transfers
Change in net position
Net position, beginning of year
Cumulative effect of change in accounting principle
Net position, beginning of year, as restated
NET POSITION, end of year
Functions/Program Activities
Program Revenues
Exhibit 2
25
Governmental Business-type Component
Activities Activities Total Unit
(2,669,420)$ -$ (2,669,420)$ 670,759$
(460,498) - (460,498) -
(6,118,558) - (6,118,558) -
(3,664,556) - (3,664,556) -
(775,477) - (775,477) -
584,671 - 584,671 -
(6,798,333) - (6,798,333) -
(4,429,023) - (4,429,023) -
(111,944) - (111,944) -
(24,443,138) - (24,443,138) 670,759
- 1,087,756 1,087,756 -
- 200,896 200,896 -
- 1,288,652 1,288,652 -
(24,443,138)$ 1,288,652$ (23,154,486)$ 670,759$
-$ -$ -$ (8,769,162)$
-$ -$ -$ (8,769,162)$
16,398,025$ -$ 16,398,025$ 6,401,083$
9,445,150 - 9,445,150 -
1,724,583 - 1,724,583 -
235,209 - 235,209 -
99,055 31,280 130,335 1,861
61,287 - 61,287 -
5,787,102 17,652 5,804,754 1,425,910
409,276 (409,276) - -
34,159,687 (360,344) 33,799,343 7,828,854
9,716,549 928,308 10,644,857 (269,549)
150,055,356 68,475,494 218,530,850 48,596,969
3,102 - 3,102 -
150,058,458 68,475,494 218,533,952 48,596,969
159,775,007$ 69,403,802$ 229,178,809$ 48,327,420$
Net (Expense) Revenue and
Changes in Net Position
Primary Government
26
This Page Intentionally Left Blank
27
Fund Financial Statements
28
This Page Intentionally Left Blank
29
Governmental Funds
Financial Statements
30
This Page Intentionally Left Blank
City of Colleyville, Texas Exhibit 3
Balance Sheet
Governmental Funds
September 30, 2021
The Notes to the Financial Statements are an integral part of this statement.
31
Colleyville Non-Major
Debt Capital Economic Governmental Governmental
General Service Projects Development Funds Funds
ASSETS
Cash and cash equivalents 45,424$ 129,963$ 2,935,472$ 1,909,678$ 2,025,789$ 7,046,326$
Investments 10,812,882 936,691 7,753,055 3,931,821 8,514,492 31,948,941
Receivables, net of allowances for
uncollectibles:
Accounts 155,127 - 360 - 70,741 226,228
Taxes 1,115,753 25,304 - - - 1,141,057
Loans 127,500 - 10,000,000 - - 10,127,500
Due from other funds 70,000 - - - - 70,000
Due from other governments - - - 436,514 469,044 905,558
Accrued interest 23,591 - 14,953 1,276 308 40,128
Inventories 1,566 - - - - 1,566
Prepaid items 21,584 - - - - 21,584
TOTAL ASSETS 12,373,427$ 1,091,958$ 20,703,840$ 6,279,289$ 11,080,374$ 51,528,888$
LIABILITIES
Accounts payable 673,283$ -$ 948,674$ 46,766$ 240,592$ 1,909,315$
Accrued liabilities 394,010 - 197,658 15,063 65,734 672,465
Advances from developers - - 113,424 - - 113,424
Due to other funds - - - - 70,000 70,000
Customer deposits 46,203 - - - - 46,203
Total liabilities 1,113,496 - 1,259,756 61,829 376,326 2,811,407
DEFERRED INFLOWS OF RESOURCES
Unavailable resources 342,561 25,161 - - - 367,722
TOTAL DEFERRED INFLOWS OF RESOURCES 342,561 25,161 - - - 367,722
FUND BALANCES
Nonspendable for:
Inventories 1,566 - - - - 1,566
Prepaid items 21,584 - - - - 21,584
Restricted for:
Debt service - 1,066,797 - - - 1,066,797
Court security and technology - - - - 102,662 102,662
Grant programs - - - - 1,431 1,431
Leisure services - - 343,159 343,159
Economic development - - - 6,217,460 - 6,217,460
Police - - - - 2,623,797 2,623,797
Historical purposes - - - - 22,308 22,308
Committed for:
Strategic initiatives 660,687 - - - - 660,687
Leisure services - - - - 1,989,388 1,989,388
Capital projects - - 19,444,084 - 4,220,622 23,664,706
Assigned for:
Capital projects - - - - 1,376,721 1,376,721
Leisure services - - - - 23,960 23,960
Unassigned 10,233,533 - - - - 10,233,533
Total fund balances 10,917,370 1,066,797 19,444,084 6,217,460 10,704,048 48,349,759
TOTAL LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES 12,373,427$ 1,091,958$ 20,703,840$ 6,279,289$ 11,080,374$ 51,528,888$
City of Colleyville, Texas Exhibit 4
Reconciliation of the Governmental Funds
Balance Sheet to the Statement of Net Position
As of September 30, 2021
The Notes to the Financial Statements are an integral part of this statement.
32
TOTAL FUND BALANCES - GOVERNMENT FUNDS 48,349,759$
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 116,965,637
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.(32,354)
Revenues earned but not available within sixty days of the year end are not
recognized as revenue on the fund financial statements. 367,722
Net deferred outflows of resources related to the City's net pension liability results in
an increase in net position in the government-wide financial statements. 736,660
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 (3,650,476)$
Unamortized bond premium/discount, net (172,787)
Compensated absences (1,894,792)
Other post employment benefits liability (679,027)
Net pension liability (215,335)
(6,612,417)
Net position of governmental activities 159,775,007$
City of Colleyville, Texas Exhibit 5
Statement of Revenues, Expenditures, and
Changes in Fund Balances
Governmental Funds
For the Fiscal Year Ended September 30, 2021
The Notes to the Financial Statements are an integral part of this statement.
33
Colleyville Non-Major Total
Debt Capital Economic Governmental Governmental
General Service Projects Development Funds Funds
REVENUES
Taxes 22,468,784$ 804,774$ -$ 2,390,336$ 2,383,944$ 28,047,838$
Fines and forfeitures 693,626 - - - 85,268 778,894
Licenses, permits and fees 911,816 - - - - 911,816
Intergovernmental 194,318 - - 5,518,968 58,224 5,771,510
Charges for services 1,428,375 - - - - 1,428,375
Capital improvement fees - - 261,447 - - 261,447
Grants/contributions 2,533,032 - - - 838,720 3,371,752
Investment earnings 37,522 466 37,341 13,658 10,068 99,055
Miscellaneous 57,446 - 105,674 4,617 106,322 274,059
Total revenues 28,324,919 805,240 404,462 7,927,579 3,482,546 40,944,746
EXPENDITURES
Current:
General government 4,715,312 - - 225,193 144,801 5,085,306
Community development and engineering 1,457,051 - 149,498 - - 1,606,549
Fire and rescue 6,146,432 - - - 214,764 6,361,196
Leisure services 2,473,785 - - 599,423 459,648 3,532,856
Maintenance 729,083 - - - - 729,083
Municipal court 538,946 - - - 99,079 638,025
Police services 5,137,758 - - - 1,406,103 6,543,861
Streets and drainage 939,797 - 1,362,718 - - 2,302,515
Capital outlay 1,082,617 - 3,628,786 547,225 1,581,909 6,840,537
Debt service:
Principal retirement - 756,733 - 4,775,000 - 5,531,733
Interest and fiscal charges - 107,713 - 43,167 - 150,880
Total expenditures 23,220,781 864,446 5,141,002 6,190,008 3,906,304 39,322,541
Excess (deficiency) of revenues
over (under) expenditures 5,104,138 (59,206) (4,736,540) 1,737,571 (423,758) 1,622,205
OTHER FINANCING SOURCES (USES)
Proceeds from capital leases 938,461 - - - - 938,461
Proceeds from the sale of property 20,817 - - - 40,470 61,287
Transfers in 281,861 - 3,420,194 - 524,706 4,226,761
Transfers out (3,807,485) - - - (10,000) (3,817,485)
Total other financing sources (uses) (2,566,346) - 3,420,194 - 555,176 1,409,024
Net change in fund balances 2,537,792 (59,206) (1,316,346) 1,737,571 131,418 3,031,229
Fund balances, beginning of year 8,379,578 1,126,003 20,760,430 4,479,889 10,550,710 45,296,610
Cumulative effect of change in accounting principle - - - - 21,920 21,920
FUND BALANCES, END OF YEAR 10,917,370$ 1,066,797$ 19,444,084$ 6,217,460$ 10,704,048$ 48,349,759$
City of Colleyville, Texas Exhibit 6
Reconciliation of the Governmental Funds Statement of Revenues,
Expenditures and Changes In Fund Balances of
Governmental Funds to the Statement of Activities
For the Fiscal Year Ended September 30, 2021
The Notes to the Financial Statements are an integral part of this statement.
34
TOTAL NET CHANGE IN FUND BALANCES - GOVERNMENTAL FUNDS 3,031,229$
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.6,840,537
Capital lease transactions provide current financial resources to governmental funds and
repayment of principal is an expenditure. The net effect to net position is as follows:
Lease repayments 346,733$
Proceeds from capital leases (938,461)
(591,728)
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.(4,917,447)
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 5,185,000$
Amortization of premiums and deferred losses 35,929
5,220,929
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.19,996
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.175,460
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. (67,468)
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. 3,004
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. 2,037
CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES 9,716,549$
35
Proprietary Funds
Financial Statements
City of Colleyville, Texas Exhibit 7
Statement of Net Position
Proprietary Funds
September 30, 2021
The Notes to the Financial Statements are an integral part of this statement.
36
Water and Sewer Drainage Utility
Fund Fund Total
ASSETS
Current assets:
Cash and cash equivalents 4,033,385$ 281,434$ 4,314,819$
Investments 16,157,362 1,958,152 18,115,514
Accounts receivable, net of allowance 3,207,389 138,477 3,345,866
Inventories 204,425 - 204,425
Restricted assets:
Investments - 33,608 33,608
Total current assets 23,602,561 2,411,671 26,014,232
Noncurrent assets:
Accrued interest 3,427 - 3,427
Capital assets:
Land and improvements 304,839 - 304,839
Buildings 60,859 - 60,859
Utility system 82,034,542 4,406,792 86,441,334
Equipment and furniture 2,129,967 676,126 2,806,093
Construction in progress 2,053,848 1,001,913 3,055,761
Less: accumulated depreciation (44,515,558) (2,202,595) (46,718,153)
Total non-current assets 42,071,924 3,882,236 45,954,160
Total assets 65,674,485 6,293,907 71,968,392
DEFERRED OUTFLOW OF RESOURCES
Deferred outflows - TMRS pension and OPEB 257,095 53,695 310,790
Total deferred outflows of resources 257,095 53,695 310,790
LIABILITIES
Current liabilities:
Accounts payable 1,247,961 178,633 1,426,594
Accrued liabilities 94,621 9,550 104,171
Advances from developers 69,000 116,893 185,893
Customer deposits 514,280 - 514,280
Compensated absences - 18,198 18,198
Total current liabilities 1,925,862 323,274 2,249,136
Noncurrent liabilities:
Compensated absences 209,036 58,473 267,509
Net pension liability 22,560 3,583 26,143
OPEB liability 80,559 17,327 97,886
Total non-current liabilities 312,155 79,383 391,538
Total liabilities 2,238,017 402,657 2,640,674
DEFERRED INFLOW OF RESOURCES
Deferred inflows - TMRS pension and OPEB 193,167 41,539 234,706
Total deferred inflows of resources 193,167 41,539 234,706
NET POSITION
Net investment in capital assets 42,068,497 3,882,236 45,950,733
Unrestricted 21,431,899 2,021,170 23,453,069
TOTAL NET POSITION 63,500,396$ 5,903,406$ 69,403,802$
City of Colleyville, Texas Exhibit 8
Statement of Revenues, Expenses
and Changes in Net Position
Proprietary Funds
For the Fiscal Year Ended September 30, 2021
The Notes to the Financial Statements are an integral part of this statement.
37
Water and Sewer Drainage Utility
Fund Fund Total
OPERATING REVENUES
Metered water sales 11,766,720$ -$ 11,766,720$
Wastewater service charges 4,730,415 - 4,730,415
Drainage service charges - 1,008,732 1,008,732
Other charges and services 925,130 4,669 929,799
Miscellaneous 17,652 - 17,652
Total operating revenues 17,439,917 1,013,401 18,453,318
OPERATING EXPENSES
Personnel services 2,194,442 485,084 2,679,526
Maintenance and contractual services 11,693,167 120,283 11,813,450
Material and supplies 412,230 54,720 466,950
Depreciation and amortization 2,034,670 150,517 2,185,187
Total operating expenses 16,334,509 810,604 17,145,113
OPERATING INCOME (LOSS)1,105,408 202,797 1,308,205
NON-OPERATING REVENUES (EXPENSES)
Interest income 31,280 - 31,280
Interest expense - (1,901) (1,901)
Total non-operating revenues (expenses) 31,280 (1,901) 29,379
Income (loss) before capital contributions and transfers 1,136,688 200,896 1,337,584
CAPITAL CONTRIBUTIONS AND TRANSFERS
Transfers out (409,276) - (409,276)
Total capital contributions and transfers (409,276) - (409,276)
Change in net position 727,412 200,896 928,308
Net position, beginning of year 62,772,984 5,702,510 68,475,494
NET POSITION, END OF YEAR 63,500,396$ 5,903,406$ 69,403,802$
City of Colleyville, Texas Exhibit 9
Statement of Cash Flows
Proprietary Funds
For the Fiscal Year Ended September 30, 2021
The Notes to the Financial Statements are an integral part of this statement.
38
Water and Sewer Drainage Utility
Fund Fund Totals
CASH FLOWS FROM OPERATING ACTIVITIES
Cash received from customers and users 17,132,754$ 1,010,465$ 18,143,219$
Cash payments to suppliers for goods and services (11,795,996) (12,638) (11,808,634)
Cash payments to employees for services (2,142,574) (464,482) (2,607,056)
Net cash provided by (used in) operating activities 3,194,184 533,345 3,727,529
CASH FLOWS FROM NON-CAPITAL FINANCING ACTIVITIES
Transfers out (409,276) - (409,276)
Net cash provided by (used in) non-capital financing activities (409,276) - (409,276)
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets (2,662,602) (1,036,753) (3,699,355)
Principal payments on bonds - (125,000) (125,000)
Interest paid of debt - (2,444) (2,444)
Net cash provided by (used in) capital and
related financing activities (2,662,602) (1,164,197) (3,826,799)
CASH FLOWS FROM INVESTING ACTIVITIES
Sale of investments 1,000,207 348,945 1,349,152
Earnings on investments 28,780 1,461 30,241
Net cash provided by (used in) investing activities 1,028,987 350,406 1,379,393
Net change in cash and cash equivalents 1,151,293 (280,446) 870,847
Cash and cash equivalents, beginning of year 2,882,092 561,880 3,443,972
CASH AND CASH EQUIVALENTS, END OF YEAR 4,033,385$ 281,434$ 4,314,819$
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED BY OPERATING ACTIVITIES
Operating income (loss)1,105,408$ 202,797$ 1,308,205$
Adjustments to reconcile operating income (loss)
to net cash provided by (used in) operating activities:
Depreciation and amortization 2,034,670 150,517 2,185,187
Decrease (increase) in assets and deferred outflows of resources:
Receivables (299,460) (2,936) (302,396)
Inventory (22,863) - (22,863)
Net pension asset 9,453 3,301 12,754
Deferred outflows - TMRS pension and OPEB (26,712) (5,743) (32,455)
Increase (decrease) in liabilities and deferred outflows of resources:
Accounts payable 281,289 161,900 443,189
Accrued liabilities 50,975 465 51,440
Compensated absences 46,237 19,390 65,627
Customer deposits 18,910 - 18,910
Advances from developers (26,613) - (26,613)
Net pension liability 22,560 3,583 26,143
Total OPEB liability 15,492 3,332 18,824
Deferred inflows - TMRS pension and OPEB (15,162) (3,261) (18,423)
Net cash provided by (used in) operating activities 3,194,184$ 533,345$ 3,727,529$
39
Fiduciary Fund
Financial Statements
40
This Page Intentionally Left Blank
City of Colleyville, Texas Exhibit 10
Statement of Fiduciary Net Position
Custodial Funds
September 30, 2021
The Notes to Financial Statements are an integral part of this statement.
41
Custodial Funds
ASSETS
Cash and cash equivalents 18,393$
Investments 22,148
TOTAL ASSETS 40,541
NET POSITION
Restricted for other purposes 40,541
TOTAL NET POSITION 40,541$
City of Colleyville, Texas Exhibit 11
Statement of Changes in Fiduciary Net Position
Custodial Funds
For the Fiscal Year Ended September 30, 2021
The Notes to Financial Statements are an integral part of this statement.
42
Custodial
Funds
Contributions 3,686$
Forfeitures 18,127
Investment earnings 5
TOTAL ADDITIONS 21,818
Other miscellaneous expenses 3,665
TOTAL DEDUCTIONS 3,665
18,153
Net position, beginning -
Cumulative effect of change in accounting principle 22,388
Net position, beginning, as restated 22,388
40,541$
ADDITIONS
DEDUCTIONS
CHANGE IN NET POSITION
NET POSITION, ENDING
City of Colleyville, Texas
Notes to the Basic Financial Statements
43
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
44
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. 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
45
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
46
Fiduciary Funds
Custodial Funds are used to account for assets held by the City in a trustee capacity or as an agent
on behalf of others. Certain Custodial Funds were previously reported as agency funds, see Note 14
for details of this change in accounting principle. The City has two Fiduciary Funds: Employee Activity
and the Police Asset Forfeiture Fund. These funds are held for the benefit of City employees and to
account for assets seized in criminal-related activities held until remittance.
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) or
amortized cost.
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
47
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
Buildings 15-50
Improvements 20-50
Equipment 5-10
Infrastructure (streets and drainage) 50
Water distribution/sewer collection 5-40
H. Compensated Absences
City employees are granted vacation and sick pay in varying amounts. In the event of termination,
an employee is paid for all accumulated, unused vacation. Vacation pay is accrued as it vests to the
employee. Sick pay is recorded when paid or upon retirement 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
48
I. Leases
The City is a lessee for a noncancellable lease of equipment.
The City recognizes a lease liability and an intangible right-to-use lease asset (lease asset) in the
government-wide financial statements. The City recognizes lease liabilities with an initial, individual
value of $5,000 or more. At the commencement of a lease, the City initially measures the lease liability
at the present value of payments expected to be made during the lease term. Subsequently, the
lease liability is reduced by the principal portion of lease payments made. The lease asset is initially
measured as the initial amount of the lease liability, adjusted for lease payments made at or before
the lease commencement date, plus certain initial direct costs. Subsequently, the lease asset is
amortized on a straight-line basis over its useful life. Lease assets are reported with other capital assets
and lease liabilities are reported with long-term debt on the statement of net position.
J. Long-term Obligations
In the government-wide financial statements and proprietary fund types in the fund financial statements,
long-term debt and other long-term obligations are reported as liabilities in the applicable governmental
activities, business-type activities, or proprietary fund type statement of net position.
In the fund financial statements, the face amount of debt issued is reported as other financing sources
for the governmental fund types.
For governmental fund types, bond premiums and discounts, as well as issuance costs, are recognized
during the current period. Bond proceeds are reported as another financing source. Issuance costs, even
if withheld from the actual net proceeds received, are reported as expenditures. For proprietary fund
types, bond premiums and discounts, as well as issuance costs, are charged to current operations rather
than being deferred and amortized due to the relatively immaterial effect on the basic financial
statements taken as a whole.
K. Fund Balance Classification
The governmental fund financial statements present fund balances based on classifications that
comprise a hierarchy that is based primarily on the extent to which the City is bound to honor
constraints on the specific purposes for which amounts in the respective governmental funds can be
spent. The classifications used in the governmental fund financial statements are as follows:
Nonspendable: This classification includes amounts that cannot be spent because they are either
(a) not in spendable form or (b) are legally or contractually required to be maintained intact.
Nonspendable items are not expected to be converted to cash or are not expected to be converted to
cash within the next year.
Restricted: This classification includes amounts for which constraints have been placed on the use of the
resources either (a) externally imposed by creditors, 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.
City of Colleyville, Texas
Notes to the Basic Financial Statements
49
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 Finance Director.
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.
L. Minimum Unassigned Fund Balance
It is the goal of the City to achieve and maintain an unassigned fund balance in the General Fund equal
to three months of that year's budgeted expenditures for both the General and Utility Funds. The City
Council may declare a fiscal emergency and withdraw any amount of the unassigned General and Utility
Funds' balances for purposes of addressing the fiscal emergency. Any such action must also provide for
necessary appropriations to restore the designated fund balance to the balance within a three-year
period.
M. Net Position Flow Assumption
Sometimes the City will fund outlays for a particular purpose from both restricted (e.g., restricted bond
or grant proceeds) and unrestricted resources. In order to calculate the amounts to report as restricted
net position and unrestricted net position in the government-wide and proprietary fund financial
statements, a flow assumption must be made about the order in which the resources are considered to
be applied. It is the City's policy to consider restricted net position to have been depleted before
unrestricted net position is applied.
N. Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position will sometimes report a separate section for
deferred outflows of resources. This separate financial statement element, deferred outflows of
resources, represents a consumption of net position that applies to a future period(s) and so will not be
recognized as an outflow of resources (expense/expenditure) until then. The City has the following items
that qualify for reporting in this category.
Deferred charges on 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.
City of Colleyville, Texas
Notes to the Basic Financial Statements
50
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.
O. Estimates
The preparation of financial statements, in conformity with generally accepted accounting principles,
requires management to make estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosures of contingent liabilities at the date of the financial statements and the
reported amounts of revenue and expenses during the reporting period. Actual amounts could differ from
those estimates.
P. Risk Management
Insurance coverage for property, liability and workers' compensation is provided by the Texas
Municipal League Intergovernmental Risk Pool, a state insurance pool. Contributions to the Risk Pool
for workers' compensation are based on the City's past claims history. The Risk Pool is self-sustaining
through members' contributions and maintains insurance to limit risk of loss with an external insurance
company. Settlement claims have not exceeded aggregate limits in the past three fiscal years.
Q. Pensions
For purposes of measuring the net pension 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.
R. 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)
City of Colleyville, Texas
Notes to the Basic Financial Statements
51
Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than
Pensions.
Note 2. Stewardship, Compliance and Accountability
Budgetary Information
The City Council follows these procedures in establishing budgetary data reflected in the basic financial
statements:
1. Prior to September 1, the City Manager submits to the City Council a proposed operating budget
for the fiscal year commencing the following October 1. The operating budget includes proposed
expenditures and the means of financing them.
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
52
As of September 30, 2021, the City held the following fair value measurements:
Value at
September 30,
2021
Level 1
Inputs Level 2 Inputs
Level 3
Inputs
Percent of
Total
Investments
City:
Cash and cash equivalents:
Cash deposits - City 11,358,533$ -$ -$ -$
Petty Cash - City 2,612
Cash deposits - trust
and agency 18,393 - - -
Investments not subject to
fair value:
Investment pools:
TexPool 17,179,094 - - - 28% 38
TexStar 6,770,120 - - - 11% 39
Texas CLASS 6,856,943 - - - 11% 22
LOGIC 2,496,336 - - - 4% 54
Investments in certificates
of deposits:
Certificates of deposits 13,317,718 - 13,317,718 -
Investments by fair value level:
Federal Farm Credit Bonds 3,500,000 - 3,500,000 - 6% 100
Total cash and investments
of the city 61,499,749 - 16,817,718 -
Component unit:
Cash and cash equivalents:
Cash deposits 1,571,821 - - -
Investments in certificates
of deposits:
Certificates of deposits 597 - 597 -
Total cash and investments
of the component unit 1,572,418 - 597 -
Total cash and investments of the
reporting entity 63,072,167$ -$ 16,818,315$ -$
Fair Value Measurements Weighted
Average
Maturity
(Days)
City of Colleyville, Texas
Notes to the Basic Financial Statements
53
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 as
investments in the Statement of Net Position and are measured with Level 2 inputs on the fair value
hierarchy. U.S. Government Agency Securities classified in Level 2 of the fair value hierarchy are valued
using a matrix pricing technique. Matrix pricing is used to value securities based on the securities’
relationship to benchmark quoted prices.
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.
City of Colleyville, Texas
Notes to the Basic Financial Statements
54
LOGIC's investment objectives are to seek preservation of principal, liquidity, and current income through
investment in a diversified portfolio of short-term marketable securities. The portfolio will maintain a dollar-
weighted average maturity that does not exceed 60 days and seeks to maintain a net asset value of
$1.00 per share. LOGIC may invest in securities including: obligations of the United States or its agencies
and instrumentalities, including the Federal Home Loan Banks; other obligations which are
unconditionally guaranteed or insured by the U.S.; fully collateralized repurchase agreements with a
defined termination date and unconditionally guaranteed or insured by the U.S. or its agencies and
instrumentalities; SEC-registered money-market fund rated in the highest rating category by at least one
nationally recognized statistical rating organization (NRSRO); and commercial paper as authorized under
the Public Funds Investment Act. The investment pool has a redemption notice period of one day and
no maximum transaction amounts. The investment pools’ authorities may only impose restrictions on
redemptions in the event of a general suspension of trading on major securities market, general banking
moratorium or national or state emergency that affects the pools’ liquidity.
TexSTAR is duly chartered by the State of Texas Interlocal Cooperation Act, is administered by Hilltop
Securities, Inc. and J.P. Morgan Investment Management, Inc. (JPMIM), and managed by JPMIM, who
provides custody and investment management.
The primary objectives of TexSTAR are, in order of priority, preservation and protection of principal,
maintenance of sufficient liquidity to meet Participants’ needs, and yield. The portfolio will maintain a
dollar-weighted average maturity that does not exceed 60 days and seeks to maintain a net asset value
of $1.00 per share. TexSTAR may invest in securities including: obligations of the United States or its
agencies and instrumentalities, including the Federal Home Loan Banks; other obligations which are
unconditionally guaranteed or insured by the U.S.; fully collateralized repurchase agreements with a
defined termination date and unconditionally guaranteed or insured by the U.S. or its agencies and
instrumentalities; and SEC-registered no-load money-market fund which meet the requirements of the
Public Funds Investment Act. The investment pool has a redemption notice period of one day and no
maximum transaction amounts. The investment pools’ authorities may only impose restrictions on
redemptions in the event of a general suspension of trading on major securities market, general banking
moratorium or national or state emergency that affects the pools’ liquidity.
Interest Rate Risk. In accordance with its investment policy, the government manages its exposure to
declines in fair market values by limiting the average dollar weighted maturity of its investment portfolios
to a maximum of 540 days.
Custodial Credit Risk. The City maintains a cash and investment pool that combines cash of the various
funds in order to maximize investment opportunities. The City's policy and state statutes require that all
deposits in financial institutions be insured by the Federal Depository Insurance Corporation (FDIC) or fully
collateralized as per the Public Funds Collateral Act. The City's deposits were fully insured or collateralized
as required by state statutes as of September 30, 2021.
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
55
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 460,592$ -$ 360$ 70,741$ 3,252,794$ 138,477$ 3,922,964$
Taxes 1,115,753 25,304 - - - - 1,141,057
Loans 127,500 - 10,000,000 - - - 10,127,500
Gross receivables 1,703,845 25,304 10,000,360 70,741 3,252,794 138,477 15,191,521
Less allowance 305,465 - - - 45,405 - 350,870
Net total
receivables 1,398,380$ 25,304$ 10,000,360$ 70,741$ 3,207,389$ 138,477$ 14,840,651$
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 2021 levy was based, was $5,548,965,087.
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, 2021, was $0.304366 per $100 of assessed valuation.
Taxes are due by January 31 following the levy date. Tax collections, including related penalties and
interest, was $17,602,845 for the year ended September 30, 2021. Property taxes receivable at September
30, 2021, were $231,954.
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.
In 2012, the City extended a loan in the amount of $200,000 to The Londoner Pub to fund some
improvements to the restaurant. The loan, which bears no interest, was restructured in 2020 and is
receivable in monthly installments of $750. The balance of the loan was $127,500 as of September 30,
2021.
During the year ended September 30, 2021, the primary government loaned $10 million to discretely
presented component unit, Colleyville Tax Increment Financing Reinvestment Zone Number One (the
TIF). The purpose of the loan was to assist the TIF in cash-funding large scale capital improvements. As
of September 30, 2021, the outstanding balance was $10,000,000. The TIF will repay the loan in
installments beginning in the 2024 fiscal year, with the full balance due in the 2028 fiscal year. The loan
will bear interest at 0%.
City of Colleyville, Texas
Notes to the Basic Financial Statements
56
Note 5. Capital Assets
Capital asset activity for the year ended September 30, 2021, was as follows:
Primary Government
Beginning Capital Sales or Adjustments/ Ending
Balance Acquisitions Disposals Transfers Balance
Governmental activities:
Capital assets not being depreciated:
Land 9,178,641$ -$ -$ -$ 9,178,641$
Construction-in-progress 3,331,988 4,793,986 - (3,424,876) 4,701,098
Total capital assets not
being depreciated 12,510,629 4,793,986 - (3,424,876) 13,879,739
Capital assets being depreciated:
Buildings and building improvements 52,412,242 455,129 - 1,739,599 54,606,970
Machinery and Equipment 14,451,083 1,524,107 (1,121,373) - 14,853,817
Improvements other than buildings 108,756,174 67,315 - 1,685,277 110,508,766
Total capital assets being depreciated 175,619,499 2,046,551 (1,121,373) 3,424,876 179,969,553
Accumulated depreciation:
Buildings and building improvements (24,946,633) (1,660,989) - - (26,607,622)
Machinery and Equipment (11,577,444) (1,045,683) 1,121,373 - (11,501,754)
Improvements other than buildings (36,563,504) (2,210,775) - - (38,774,279)
Total accumulated depreciation (73,087,581) (4,917,447) 1,121,373 - (76,883,655)
Total capital assets being depreciated, net 102,531,918 (2,870,896) - 3,424,876 103,085,898
Governmental activities capital assets, net 115,042,547$ 1,923,090$ -$ -$ 116,965,637$
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 2,261,840 913,017 - (119,096) 3,055,761
Total capital assets not
being depreciated 2,566,679 913,017 - (119,096) 3,360,600
Capital assets being depreciated:
Buildings and building improvements 53,922 6,937 - - 60,859
Machinery and equipment 2,284,467 521,626 - - 2,806,093
Improvements other than buildings 84,064,463 2,257,775 - 119,096 86,441,334
Total capital assets being depreciated 86,402,852 2,786,338 - 119,096 89,308,286
Accumulated depreciation:
Buildings and building improvements (139,366) (853) - - (140,219)
Machinery and equipment (1,742,677) (196,437) - - (1,939,114)
Improvements other than buildings (42,651,640) (1,987,180) - - (44,638,820)
Total accumulated depreciation (44,533,683) (2,184,470) - - (46,718,153)
Total capital assets being depreciated, net 41,869,169 601,868 - 119,096 42,590,133
Business type activities capital assets, net 44,435,848$ 1,514,885$ -$ -$ 45,950,733$
City of Colleyville, Texas
Notes to the Basic Financial Statements
57
Component Unit
Beginning Capital Sales or Adjustments/ Ending
Balance Acquisitions Disposals Transfers Balance
Component unit activities:
Capital assets not being depreciated:
Land 16,264,941$ 839,350$ -$ -$ 17,104,291$
Construction-in-progress 8,250,309 15,274,153 - (3,541,546) 19,982,916
Total capital assets not
being depreciated 24,515,250 16,113,503 - (3,541,546) 37,087,207
Capital assets being depreciated:
Improvements other than buildings 16,007,455 2,394,663 - 3,541,546 21,943,664
Total capital assets being depreciated 16,007,455 2,394,663 - 3,541,546 21,943,664
Accumulated depreciation:
Improvements other than buildings (1,561,445) (867,878) - - (2,429,323)
Total accumulated depreciation (1,561,445) (867,878) - - (2,429,323)
Total capital assets being depreciated, net 14,446,010 1,526,785 - 3,541,546 19,514,341
Component unit activities capital assets, net 38,961,260$ 17,640,288$ -$ -$ 56,601,548$
Depreciation expense was charged to functions/programs of the primary government as follows:
Governmental activities:
General government 494,336$
Public safety 927,100
Public works 2,396,785
Culture and recreation 1,099,226
Total depreciation expense -
governmental activities 4,917,447$
Business-type activities:
Water and sewer 2,034,670$
Drainage utility 149,800
2,184,470$
City of Colleyville, Texas
Notes to the Basic Financial Statements
58
Construction Commitments
The government has active construction projects as of September 30, 2021. The major projects are listed
as follows:
Remaining
Project Spent-to-date Commitment
Bedford Rd Trail 26,200$ 98,800$
Central Fire Station Interior Renovation 25,512 99,488
Cheek-Sparger Road Improvements 4,072,791 25,694
City Hall/Library HVAC Renovation 343,140 49,576
City Hall & Library Interior Renovation 29,770 660,230
Drainage Master Plan 268,848 171,910
Fire Station Bay Floors & Exhaust Removal System 15,586 184,414
Fire Station 3 Emergency Generator 8,486 940
FY21 Misc. Drainage Projects 375,087 477,000
Glade Rd Ph II ROW Acquisition 496,462 198,538
Glade Rd Ph II - Construction 5,454,261 8,820,631
HWY 26 RECONSTRUCTION 2,129,046 10,000
ILA Fiber Project 413,352 278,930
Justice Center Exterior Site Improvements 15,137 434,863
Justice Center HVAC Replacement 430,886 17,916
Justice Center Metal Roof Replacement 470,684 258,816
LD Lockett Right Turn Lane 456,277 16,596
LD Lockett Pump Generator 265,061 224,439
Nature Center Trail 343,158 44,542
Pickleball Courts 139,887 6,326
Plaza Audio Project 3,799 1,201
Pleasant Run Improvements 3,135,115 642,153
Public Works Facility Renovation 287,006 835,853
Quail Court & Woodbriar Improvements 3,983 390,196
Renovation Fire Station on Hall-Johnson 2,803 97,197
Restrooms at Pleasant Run Soccer Field 340,772 30,371
Roberts Road Reconstruction 444,927 24,318
Senior Center/Multi Generational Facility Renovation 210,350 353,960
SH26 Beautification 4,890,861 1,957,607
SH26 Light Pole Fixtures 1,846,964 1,151,194
Small Sidewalk Segments/Trails 121,384 402,138
Tinker Road Reconstruction 127,018 209,175
Water Project #10: Apple Valley 500,792 23,401
Waste Water Project 5: Quails Path 44,370 5,630
Total 27,739,775$ 18,204,043$
City of Colleyville, Texas
Notes to the Basic Financial Statements
59
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, 2021
interfund balances outstanding were as follows:
General Total
Due From
Nonmajor governmental funds 70,000$ 70,000$
Total 70,000$ 70,000$
Due To
The composition of interfund transfers as of September 30, 2021, is as follows:
Nonmajor
Capital Government
General Projects Funds Total
Transfer out:
General fund -$ 3,282,779$ 524,706$ 3,807,485$
Nonmajor governmental funds - 10,000 - 10,000
Water and wastewater 281,861 127,415 - 409,276
Total 281,861$ 3,420,194$ 524,706$ 4,226,761$
Transfer in
The most significant interfund transfers include the transfers of $3,282,779 and $524,706 from the
General Fund to the Capital Projects fund and one Nonmajor Government fund, respectively, which
represent transfers for capital replacement.
The $281,861 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 $35,540,000.
General obligation bonds are direct obligations and pledge the full faith and credit of the
government. These bonds generally are issued as 20-year serial bonds with equal amounts of principal
maturing each year.
City of Colleyville, Texas
Notes to the Basic Financial Statements
60
Long-term liability activity for the year ended September 30, 2021, was as follows:
Amount
Beginning Ending Due within
Balance Additions Reductions Balance One Year
Governmental activities:
General obligation bonds and
certificates of obligation 3,110,000$ -$ (410,000)$ 2,700,000$ 425,000$
Sales tax revenue bonds 4,775,000 - (4,775,000) - -
Bond premiums 208,716 - (35,929) 172,787 42,917
Capital leases payable 358,747 938,461 (346,733) 950,475 310,551
Compensated absences 2,070,254 1,502,441 (1,677,903) 1,894,792 339,061
Net pension liability - 215,335 - 215,335 -
Total OPEB liability 548,457 130,570 - 679,027 -
Total governmental activities 11,071,174$ 2,786,807$ (7,245,565)$ 6,612,416$ 1,117,529$
Amount
Beginning Ending Due within
Balance Additions Reductions Balance One Year
Business-type activities:
Revenue bonds and certificates
of obligation 125,000$ -$ (125,000)$ -$ -$
Compensated absences 220,080 355,205 (289,578) 285,707 18,198
Net pension liability - 26,143 - 26,143 -
Total OPEB liability 79,062 18,824 - 97,886 -
Total business-type activities 424,142$ 400,172$ (414,578)$ 409,736$ 18,198$
For the governmental activities, compensated absences are generally liquidated by the General Fund.
City of Colleyville, Texas
Notes to the Basic Financial Statements
61
Long-term liabilities at September 30, 2021, consisted of the following:
Final Interest Business-
General Obligation Bonds and Certificates of Obligation Maturity Rates Governmental Type
$6,225,000 Series 2016, General Obligation Refunding Bonds 2027 2.0 - 3.0% 2,700,000$ -$
2,700,000$ -$
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, 2021, 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
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 465,000 14,150 479,150
2027 475,000 4,750 479,750
Total 2,700,000$ 174,150$ 2,874,150$
Governmental Activities
Capital Leases
The City is a lessee for a noncancellable lease of equipment.
During the current fiscal year, the City entered into a five- year lease agreement as lessee for the
acquisition and use of a pumper. An initial lease liability was recorded in the amount of $557,708 during
the current fiscal year. As of September 30, 2021, the value of the lease liability was $452,007. The City is
required to make yearly principal and interest payments of $120,700 The lease has an interest rate of
2.69%. The equipment has a 10-year estimated useful life.
In addition, the City entered into a three-year lease agreement as lessee for the acquisition and use of
an ambulance. An initial lease liability was recorded in the amount of $380,753 during the current fiscal
year. As of September 30, 2021, the value of the lease liability was $227,341 The City is required to make
yearly principal and interest payments of $120,000. The lease has an interest rate of 3.69%. The equipment
has a 10-year estimated useful life.
These leases in addition to capital leases entered into prior to fiscal year 2021 totaled $950,475 as of year
end. These capital leases are classified as machinery and equipment. The amortized value of the right-
City of Colleyville, Texas
Notes to the Basic Financial Statements
62
to-use assets as of the end of the current fiscal year was $1,337,527. Capital lease amortization expense
has been included in depreciation expense for the year ended September 30, 2021.
The future minimum lease obligations and the net present value of these minimum lease payments as of
September 30, 2021, were as follows:
Fiscal Years Ending
September 30,
2022 339,173$
2023 289,185
2024 169,185
2025 169,185
2026 48,485
Total minimum lease payments 1,015,213
Less: amount representing interest (64,738)
Present value of minimum lease payments 950,475$
Governmental
Activities
Note 8. Defined Benefit Pension Policies
Plan Descriptions
The City participates as one of 895 plans in the defined benefit cash-balance plan administered by the
Texas Municipal Retirement System (TMRS). TMRS is a statewide public retirement plan 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 agent multiple-employer retirement system for employees of Texas
participating cities. The TMRS Act places the general administration and management of TMRS with a six-
member, Governor-appointed Board of Trustees; however, TMRS is not fiscally dependent on the State of
Texas. TMRS issues a publicly available Comprehensive Annual Financial Report (Annual Report) that can
be obtained at tmrs.com.
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
63
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, 2020 valuation and measurement date, the following employees were covered
by the benefit –terms:
Inactive employees or beneficiaries currently receiving benefits 158
Inactive employees entitled to but not yet receiving benefits 148
Active employees 191
497
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 9.10% and 9.57% in calendar years 2020 and 2021,
respectively. The city's contributions to TMRS for the year ended September 30, 2021, were $1,399,397,
and were equal to the required contributions.
Net Pension Liability/(Asset)
The City's Net Pension Liability/(Asset) was measured as of December 31, 2020, 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, 2020 actuarial valuation was determined using
the following actuarial assumptions:
Inflation 2.5% per year
Overall payroll growth 2.75% per year, adjusted down for population declines, if any
Investment Rate of Return 6.75%, net of pension plan investment expense, including inflation
City of Colleyville, Texas
Notes to the Basic Financial Statements
64
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 2020 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. 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 2021 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
65
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, 2019 64,510,250$ 64,577,485$ (67,235)$
Changes for the year:
Service cost 2,314,748 - 2,314,748
Interest 4,338,383 - 4,338,383
Change of benefit terms - - -
Difference between expected and
actual experience 897,142 - 897,142
Changes of assumptions - - -
Contributions - employer - 1,330,794 (1,330,794)
Contributions - employee - 1,042,009 (1,042,009)
Net investment income - 4,901,713 (4,901,713)
Benefit payments, including refunds
of employee contributions (2,790,558) (2,790,558) -
Administrative expense - (31,719) 31,719
Other changes - (1,237) 1,237
Net changes 4,759,715 4,451,002 308,713
Balance at December 31, 2020 69,269,965$ 69,028,487$ 241,478$
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) 9,930,782$ 241,478$ (7,746,167)$
City of Colleyville, Texas
Notes to the Basic Financial Statements
66
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, 2021, the City recognized pension expense of $1,352,700. The General
Fund, Capital Projects Fund, Colleyville Economic Development Fund, Water and Sewer Fund, Drainage
Utility Fund, Crime District Fund, and Juvenile Case Manager Fund have been used to liquidate pension
liabilities.
At September 30, 2021, the City reported deferred outflows of resources and deferred inflows of resources
related to pensions from the following sources:
Deferred Deferred
Outflows of Inflows of
Resources Resources
Differences between expected and actual economic experience 1,327,666$ -$
Changes in actuarial assumptions 137,593 -
Difference between projected and actual investment earnings - (1,829,812)
Contributions subsequent to the measurement date 1,031,115 -
Total 2,496,374$ (1,829,812)$
$1,031,115 reported as deferred outflows of resources related to pensions resulting from contributions
subsequent to the measurement date will be recognized as a reduction of the net pension
liability/(asset) for the measurement year ending December 30, 2020 (i.e. recognized in the City’s
financial statements for the year ended September 30, 2022). Other amounts reported as deferred
outflows and inflows of resources related to pensions will be recognized in pension expense as follows:
Fiscal
Net Deferred
Outflows
Years Ended (Inflows) of
December 30, Resources
2021 36,837$
2022 596,363
2023 (889,208)
2024 (108,545)
2025 -
Total (364,553)$
City of Colleyville, Texas
Notes to the Basic Financial Statements
67
Note 9. Other Postemployment Benefits
Plan Description
The City also participates in the cost sharing multiple-employer defined benefit group-term life
insurance plan operated by the TMRS known as the Supplemental Death Benefits Fund (SDBF). The City
elected, by ordinance, to provide group-term life insurance coverage to both current and retired
employees. The City may terminate coverage under and discontinue participation in the SDBF by
adopting an ordinance before November 1 of any year to be effective the following January 1.
The death benefit for active employees provides a lump-sum payment approximately equal to the
employee’s annual salary (calculated based on the employee’s actual earnings, for the 12-month
period preceding the month of death); retired employees are insured for $7,500; this coverage is an
“other post-employment benefit,” or OPEB.
Membership in the plan at December 31, 2020, the date of the latest actuarial valuation, consists of
the following:
Inactive employees currently receiving benefits 103
Inactive employees entitled to but not yet receiving benefits 20
Active employees 191
Total 314
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, 2020 actuarial valuation was determined using the following
actuarial assumptions:
Inflation 2.50%
Salary increases 3.50% to 11.50% including inflation
Discount rate 2.00%
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 2020 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. 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
68
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, 2019 627,519$
Changes for the year:
Service cost 32,749
Interest 17,646
Change of benefit terms -
Difference between expected and
actual experience (3,392)
Changes of assumptions 106,857
Benefit payments, including refunds
of employee contributions (4,466)
Net changes 149,394
Balance at December 31, 2020 776,913$
The following presents the OPEB liability of the City, calculated using the discount rate of 2.00%, 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 (1.00%) or one-percentage-higher (3.00%) than the current rate:
1% Decrease in
Discount Discount
1% Increase in
Discount
1.00% Rate 2.00% 3.00%
Total OPEB liability 957,011$ 776,913$ 639,001$
OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB.
For the year ended September 30, 2021, the City recognized OPEB expense of $81,641. The General
Fund, Capital Projects Fund, Colleyville Economic Development Fund, Water and Sewer Fund,
Drainage Utility Fund, Crime District Fund, and Juvenile Case Manager Fund have been used to
liquidate OPEB liabilities.
City of Colleyville, Texas
Notes to the Basic Financial Statements
69
At September 30, 2021, the City reported deferred outflows of resources and deferred inflows of
resources related to OPEB from the following sources:
Deferred Outflows
of Resources
Deferred Inflows
of Resources
Differences between expected and actual experience -$ (12,194)$
Changes in assumptions and other inputs 175,862 (20,718)
Contributions made subsequent to measurement date 3,232 -
Total 179,094$ (32,912)$
$3,232 reported as deferred outflows of resources related to OPEB resulting from contributions
subsequent to the measurement date will be recognized as a reduction of the OPEB liability for the
measurement year ending December 30, 2020 (i.e. recognized in the City’s financial statements for
the year ended September 30, 2022). Other amounts reported as deferred outflows and inflows of
resources related to pensions will be recognized in pension expense as follows:
Net Deferred
Outflows
Years Ending (Inflows) of
December 30, Resources
2021 31,246$
2022 31,246
2023 28,316
2024 27,937
2025 21,516
Thereafter 2,689
Total 142,950$
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 2021
amounted to approximately $8,014,700 and $3,050,487, 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
70
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, 2021. 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. There were no sales taxes rebated under this agreement for the year
ended September 30, 2021.
Note 14. New Accounting Pronouncements
The GASB pronouncements effective in fiscal year 2021 and 2022 are listed as follows:
The GASB issued Statement No. 84: Fiduciary Activities in January 2017, effective in the year ended
September 30, 2021. The primary objective of this Statement is to enhance consistency and
comparability of fiduciary activities reported by (1) establishing specific criteria for identifying activities
that should be reported as fiduciary activities, and (2) clarifying whether and how business-type
activities should report their fiduciary activities. The cumulative effect of implementation of GASB
Statement No. 84 in the amount $3,570 was recognized related to the Employee Activity Fund and
$18,818 was recognized related to the Police Asset Forfeiture. The total cumulative effect of $22,388
was recognized in the Statement of Changes in Fiduciary Net Position for the Custodial Funds. In
addition, the cumulative effect of the implementation of GASB Statement No. 84 in the amount
$21,920 related Sesquicentennial Fund was recognized in Statement of Revenues, Expenditures, and
Changes in Fund Balances. The change related to the Police Asset Forfeiture offset the change related
to the Sesquicentennial Fund in the amount of $3,102 on the Statement of Activities.
In response to the implementation of GASB 84, the City no longer includes a Statement of Fiduciary
Net Position in its basic financial statements. Instead, the City utilizes a Statement of Custodial Net
Position for Fiduciary Funds, and has added a Statement of Changes in Custodial Net Position for
Fiduciary Funds. No other financial statements were affected by the implementation of GASB 84.
In June 2017, GASB issued Statement No. 87, Leases. This Statement requires recognition of certain
lease assets and liabilities for leases that were previously classified as operating leases and recognized
as inflows or outflows of resources based on the payment provisions of the contract, and will be
effective for the fiscal year ending September 30, 2022. The City is determining the impact of this
statement.
In December 2019, GASB issued Statement No. 89, Accounting for Interest Cost Incurred before the
End of a Construction Period. This Statement requires that interest costs incurred before the end of a
construction period be recognized as expenses in the period in which the costs are incurred. As a
result, the interest cost incurred before the end of a construction period will not be included in the
historical cost of a capital asset reported in a business-type activity or enterprise fund. This Statement
City of Colleyville, Texas
Notes to the Basic Financial Statements
71
will be effective for the fiscal year ending September 30, 2022. The City is determining the impact of
this statement.
The GASB issued Statement No. 90, Majority Equity Interests, An Amendment of GASB Statements No.
14 and 16, which was effective for fiscal year 2021. The 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 statement information for certain
component units. This Statement applies to all state and governmental entities. The City implemented
this standard in fiscal year 2021 but it had no impact on the City.
The GASB issued Statement No. 92, Omnibus 2020. This Statement establishes accounting and financial
reporting requirements for specific issues related to leases, intraentity transfers of assets,
postemployment benefits, government acquisitions, risk financing and insurance-related activities of
public entity risk pools, fair value measurements, and derivative instruments. This statement will
become effective for the City in fiscal year 2022.
The GASB issued Statement No. 93, Replacement of Interbank Offered Rates. This Statement establishes
accounting and financial reporting requirements related to the replacement of IBORs in hedging
derivative instruments and leases. This statement will become effective for the City in fiscal year
2021/2022.
The GASB issued Statement No. 97, Certain Component Unit Criteria, and Accounting and Financial
Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans - an amendment of
GASB Statements No. 14 and No. 84, and a supersession of GASB Statement No. 32. This Statement
modifies the applicability of certain component unit criteria as they relate to defined contribution
pension plans, defined contribution OPEB plans, and other employee benefit plans. This statement will
become effective for the City in fiscal year 2022/immediately.
The GASB issued Statement No. 98, The Annual Comprehensive Financial Report. This Statement was
issued in October 2021 and establishes the term annual comprehensive financial report and its
acronym ACFR. That new term and acronym replace instances of comprehensive annual financial
report and its acronym in generally accepted accounting principles for state and local governments.
The implementation of this standard changed the report name to the Annual Comprehensive Financial
Report.
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73
Required Supplementary Information
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75
Budgetary Comparison
Schedules
City of Colleyville, Texas Exhibit A-1
General Fund
Budgetary Comparison Schedule (GAAP Basis)
For the Fiscal Year Ended September 30, 2021
See Notes to the Budgetary Comparison Schedules
76
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
REVENUES
Taxes 21,678,000$ 21,678,000$ 22,468,784$ 790,784$
Fines and forfeitures 620,000 620,000 693,626 73,626
Licenses, permits and fees 836,500 836,500 911,816 75,316
Intergovernmental 194,318 194,318 194,318 -
Charges for services 1,383,602 1,383,602 1,428,375 44,773
Grants/Contributions - - 2,533,032 2,533,032
Investment earnings 50,000 50,000 37,522 (12,478)
Miscellaneous 60,100 60,100 57,446 (2,654)
TOTAL REVENUES 24,822,520 24,822,520 28,324,919 3,502,399
EXPENDITURES
Current:
General government 4,749,937 4,749,937 4,715,312 34,625
Community development and engineering 1,461,073 1,461,073 1,457,051 4,022
Fire and rescue 6,165,614 6,165,614 6,146,432 19,182
Leisure services 2,494,335 2,494,335 2,473,785 20,550
Maintenance 736,185 736,185 729,083 7,102
Municipal court 599,214 599,214 538,946 60,268
Police services 5,179,774 5,179,774 5,137,758 42,016
Streets and drainage 990,808 990,808 939,797 51,011
Capital outlay 84,500 84,500 1,082,617 (998,117)
TOTAL EXPENDITURES 22,461,440 22,461,440 23,220,781 (759,341)
Excess of revenues over expenditures 2,361,080 2,361,080 5,104,138 2,743,058
OTHER FINANCING SOURCES (USES)
Proceeds from a capital lease - - 938,461 938,461
Proceeds from the sale of property 20,000 20,000 20,817 817
Transfers in 281,861 281,861 281,861 -
Transfers out (2,014,706) (2,014,706) (3,807,485) (1,792,779)
TOTAL OTHER FINANCING SOURCES (USES)(1,712,845) (1,712,845) (2,566,346) (853,501)
NET CHANGE IN FUND BALANCE 648,235 648,235 2,537,792 1,889,557
FUND BALANCES, beginning of year 8,379,578 8,379,578 8,379,578 -
FUND BALANCES, end of year 9,027,813$ 9,027,813$ 10,917,370$ 1,889,557$
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, 2021
See Notes to the Budgetary Comparison Schedules
77
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
REVENUES
Taxes 2,052,391$ 2,052,391$ 2,390,336$ 337,945$
Intergovernmental 5,518,968 5,518,968 5,518,968 -
Investment earnings 10,000 10,000 13,658 3,658
Miscellaneous 225,000 225,000 4,617 (220,383)
Total revenues 7,806,359 7,806,359 7,927,579 121,220
EXPENDITURES
General government 207,239 207,239 225,193 (17,954)
Leisure services 779,570 779,570 599,423 180,147
Capital outlay 660,000 660,000 547,225 112,775
Debt service:
Principal retirement 4,630,856 4,630,856 4,775,000 (144,144)
Interest and fiscal charges 144,144 144,144 43,167 100,977
Total expenditures 6,421,809 6,421,809 6,190,008 231,801
Excess (deficiency) of revenues
over (under) expenditures 1,384,550 1,384,550 1,737,571 353,021
Net change in fund balance 1,384,550 1,384,550 1,737,571 353,021
FUND BALANCE, beginning of year 4,479,889 4,479,889 4,479,889 -
FUND BALANCE, end of year 5,864,439$ 5,864,439$ 6,217,460$ 353,021$
Budgeted Amounts
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City of Colleyville, Texas
Notes to the Budgetary Comparison Schedules
For the Fiscal Year Ended September 30, 2021
79
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, 2021 were:
General Fund:
Capital Outlay ($998,117)
The General Fund capital outlay expenditures exceeded appropriations by $998,117 mainly due
to the new Fire pumper and ambulance leases. This overage was funded by underspending in
other functions.
City of Colleyville, Texas Exhibit A-3
Schedule of Changes in Net Pension Liability
and Related Ratios
Texas Municipal Retirement System
Last Seven Measurement Years
80
Measurement Measurement Measurement Measurement Measurement Measurement Measurement
Year Year Year Year Year Year Year
2020 2019 2018 2017 2016 2015 2014
Total pension liability:
Service cost 2,314,748$ 2,114,121$ 2,067,935$ 2,045,941$ 1,920,420$ 1,820,192$ 1,598,908$
Interest 4,338,383 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 897,140 943,948 713,928 19,139 205,568 (55,444) 136,216
Change in assumptions - 282,429 - - - 937,119 -
Benefit payments, including refunds of
employee contributions (2,790,558) (2,600,777) (2,542,340) (2,151,523) (2,133,755) (1,814,665) (1,728,299)
Net change in total pension liability 4,759,713 4,756,663 3,987,709 3,441,865 3,294,524 4,036,878 2,945,588
Total pension liability - beginning 64,510,252 59,753,589 55,765,880 52,324,015 49,029,491 44,992,613 42,047,025
Total pension liability - ending (a) 69,269,965 64,510,252 59,753,589 55,765,880 52,324,015 49,029,491 44,992,613
Plan fiduciary net position:
Contributions - employer 1,330,792 1,159,312 1,159,516 1,082,013 922,484 903,631 745,874
Contributions - employee 1,042,009 948,036 920,251 898,468 851,897 822,553 763,324
Net investment income 4,901,713 8,718,902 (1,757,178) 7,166,092 3,298,224 72,103 2,657,437
Benefit payments, including refunds of
employee contributions (2,790,558) (2,600,777) (2,542,340) (2,151,523) (2,133,755) (1,814,665) (1,728,299)
Administrative expense (31,719) (49,271) (33,959) (37,136) (37,249) (43,918) (27,747)
Other (1,238) (1,480) (1,774) (1,882) (2,007) (2,170) (2,281)
Net change in plan fiduciary net position 4,450,999 8,174,722 (2,255,484) 6,956,032 2,899,594 (62,466) 2,408,308
Plan fiduciary net position - beginning 64,577,488 56,402,766 58,658,250 51,702,218 48,802,624 48,865,090 46,456,782
Plan fiduciary net position - ending (b) 69,028,487 64,577,488 56,402,766 58,658,250 51,702,218 48,802,624 48,865,090
Net pension liability(asset) - ending (a) - (b)241,478$ (67,236)$ 3,350,823$ (2,892,370)$ 621,797$ 226,867$ (3,872,477)$
Plan fiduciary net position as a
percentage of total pension liability(asset) 99.65% 100.10% 94.39% 105.19% 98.81% 99.54% 108.61%
Covered payroll 14,885,841$ 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 1.62% -0.50% 25.49% -22.53% 5.11% 1.93% -35.51%
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 Exhibit A-4
Schedule of Contributions
Texas Municipal Retirement System
Last Eight Fiscal Years
81
Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year
2021 2020 2019 2018 2017 2016 2015 2014
Actuarially determined contribution 1,352,700$ 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 1,352,700 2,197,460 2,596,092 1,538,670 1,048,848 941,907 868,363 738,034
Contribution deficiency (excess)-$ -$ -$ -$ -$ -$ -$ -$
Covered payroll 14,821,499$ 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 9.13% 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 eight 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, 2021
82
Actuarial Cost Method Entry Age Normal
Amortization Method Level Percentage of Payroll, Closed
Remaining Amortization Period 24 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 Four Years
83
Measurement Measurement Measurement Measurement
Year 2020 Year 2019 Year 2018 Year 2017
Total OPEB liability:
Service cost 32,749$ 23,024$ 26,293$ 21,820$
Interest 17,646 18,777 16,950 16,399
Changes of benefit terms - - - -
Difference between expected and actual
experience (3,392) (9,503) (5,282) -
Change in assumptions 106,857 102,645 (38,274) 41,681
Benefit payments, including refunds of
employee contributions (4,466) (4,063) (3,944) (3,851)
Net changes 149,394 130,880 (4,257) 76,049
Net OPEB liability - beginning 627,519 496,639 500,896 424,847
Net OPEB liability - ending 776,913$ 627,519$ 496,639$ 500,896$
Covered payroll 14,885,841$ 13,543,374$ 13,146,439$ 12,835,255$
Net OPEB liability as a percentage
of covered payroll 5.22% 4.63% 3.78% 3.90% Note: Only four 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- OPEB Liability
Required Supplementary Information
For the Fiscal Year Ended September 30, 2021
84
Inflation 2.50%
Salary Increases 3.50% to 11.5% including inflation
Discount Rate* 2.00%
Retirees' share of benefit-related cost $0
Administrative expenses
Mortality rates - service retirees 2019 Municipal Retirees of Texas Mortality Tables. The rates are
projected on a fully generational basis with scale UMP.
Mortality rates - disabled retirees 2019 Municipal Retirees of Texas Mortality Tables with a 4 year setforward
for males and a 3 year set-forward for females. In
addition, a 3.5% and 3% minimum mortality rate will be applied to
reflect the impairment for younger members who become
disabled for males and females, respectively. The rates are
projected on a fully generational basis by Scale UMP to account for
future mortality improvements subject to the floor.
* The discount rate was based on the Fidelity Index's "20-year Municipal GO AA Index" rates as of
December 31, 2020.
All administrative expenses are paid through the
Pension Trust and accounted for under reporting
requirements under GASB Statement No. 68.
85
Combining and Individual Fund
Financial Statements and Schedules
86
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City of Colleyville, Texas Exhibit B-1
Debt Service Fund
Budgetary Comparison Schedule (GAAP Basis)
For the Fiscal Year Ended September 30, 2021
87
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
REVENUES
Taxes 776,500$ 776,500$ 804,774$ 28,274$
Investment earnings 6,000 6,000 466 (5,534)
Total revenues 782,500 782,500 805,240 22,740
EXPENDITURES
Principal retirement 749,173 749,173 756,733 (7,560)
Interest and fiscal charges 70,250 70,250 107,713 (37,463)
Total expenditures 819,423 819,423 864,446 (45,023)
Deficiency of revenues
under expenditures (36,923) (36,923) (59,206) (22,283)
Net change in fund balance (36,923) (36,923) (59,206) (22,283)
FUND BALANCE, beginning of year 1,126,003 1,126,003 1,126,003 -
FUND BALANCE, end of year 1,089,080$ 1,089,080$ 1,066,797$ (22,283)$
Budgeted Amounts
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89
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.
Sesquicentennial Fund – This fund is used to account for sales of the City’s Sesquicentennial anniversary
history book. Sales proceeds are used to benefit of the City of Colleyville’s historical purposes.
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.
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.
90
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.
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City of Colleyville, Texas
Non-Major Governmental Funds
Combining Balance Sheet
September 30, 2021
92
Voluntary Sesquicentennial Tree Library
Voluntary Park Library Fund Preservation Donation
Cash and cash equivalents 72,242$ 43,437$ 18,986$ 10,100$ 60,005$
Investments 1,114,445 495,266 3,324 253,898 -
Accounts receivable - - - - -
Due from other governments - - - - -
Accrued interest - - - - -
TOTAL ASSETS 1,186,687$ 538,703$ 22,310$ 263,998$ 60,005$
LIABILITIES
Accounts payable -$ -$ 2$ -$ -$
Accrued liabilities - - - - -
Due to other funds - - - - -
TOTAL LIABILITIES - - 2 - -
FUND BALANCES
Restricted - - 22,308 - 60,005
Committed 1,186,687 538,703 - 263,998 -
Assigned - - - - -
TOTAL FUND BALANCES 1,186,687 538,703 22,308 263,998 60,005
TOTAL LIABILITIES AND FUND BALANCES 1,186,687$ 538,703$ 22,310$ 263,998$ 60,005$
LIABILITIES AND FUND BALANCES
ASSETS
Special Revenue
Exhibit B-2
93
Recreational Special
Event LEOSE Crime District Donations
15,835$ 600$ 1,173,475$ 37,594$
- - 1,061,065 -
- - - -
- - 416,590 -
- - - -
15,835$ 600$ 2,651,130$ 37,594$
-$ -$ -$ -$
- - 27,933 -
- - - -
- - 27,933 -
- 600 2,623,197 37,594
- - - -
15,835 - - -
15,835 600 2,623,197 37,594
15,835$ 600$ 2,651,130$ 37,594$
Special Revenue
City of Colleyville, Texas
Non-Major Governmental Fund
Combining Balance Sheet
September 30, 2021
94
Court Court Juvenile Case Hotel
Technology Security Grant Fund Public Art Manager Tax Fund
ASSETS
Cash and cash equivalents 13,484$ 3,721$ 690$ 2,033$ 51,772$ 79,969$
Investments 6,124 14,644 - 6,092 - 133,484
Accounts receivable - - 70,741 - - -
Due from other governments - 14,485 - - - 37,969
Accrued interest - - - - - -
TOTAL ASSETS 19,608$ 32,850$ 71,431$ 8,125$ 51,772$ 251,422$
LIABILITIES
Accounts payable -$ -$ -$ -$ -$ -$
Accrued liabilities - 1,568 - - - 5,862
Due to other funds - - 70,000 - - -
TOTAL LIABILITIES - 1,568 70,000 - - 5,862
FUND BALANCES
Restricted 19,608 31,282 1,431 - 51,772 245,560
Committed - - - - - -
Assigned - - - 8,125 - -
TOTAL FUND BALANCES 19,608 31,282 1,431 8,125 51,772 245,560
TOTAL LIABILITIES AND FUND BALANCES 19,608$ 32,850$ 71,431$ 8,125$ 51,772$ 251,422$
Special Revenue
LIABILITIES AND FUND BALANCES
Exhibit B-2
95
Total
Vehicle/ Non-Major
Colleyville Parks Park Land Equipment Governmental
Tomorrow Tomorrow Dedication Replacement Funds
2,489$ 29,456$ 88,606$ 321,295$ 2,025,789$
2,589,851 916,338 709,407 1,210,554 8,514,492
- - - - 70,741
- - - - 469,044
308 - - - 308
2,592,648$ 945,794$ 798,013$ 1,531,849$ 11,080,374$
-$ -$ 85,462$ 155,128$ 240,592$
- - 30,371 - 65,734
- - - - 70,000
- - 115,833 155,128 376,326
- - - - 3,093,357
2,592,648 945,794 682,180 - 6,210,010
- - - 1,376,721 1,400,681
2,592,648 945,794 682,180 1,376,721 10,704,048
2,592,648$ 945,794$ 798,013$ 1,531,849$ 11,080,374$
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, 2021
96
Voluntary Sesquincentennial Tree Library
Voluntary Park Library Fund Preservation Donation
REVENUES
Taxes -$ -$ -$ -$ -$
Fines and forfeitures - - - 10,101 -
Intergovernmental - - - - -
Grants/contributions 180,031 180,031 - - 19,686
Investment earnings - 180 1 97 -
Miscellaneous - - 387 - -
Total revenues 180,031 180,211 388 10,198 19,686
EXPENDITURES
Current:
General government 3,196 - - 1,333 -
Fire and rescue - - - - -
Leisure services - 150,473 - - 23,227
Municipal court - - - - -
Police services - - - - -
Capital outlay 335,109 - - - -
Total expenditures 338,305 150,473 - 1,333 23,227
Excess (deficiency) of revenues over
expenditures (158,274) 29,738 388 8,865 (3,541)
OTHER FINANCING SOURCES (USES)
Proceeds from the sale of property - - - - -
Transfers in - - - - -
Transfers out - - - - -
Total other financing sources (uses) - - - - -
NET CHANGE IN FUND BALANCES (158,274) 29,738 388 8,865 (3,541)
FUND BALANCES, BEGINNING OF YEAR 1,344,961 508,965 - 255,133 63,546
Cumulative effect of implementation of GASB 84 - - 21,920 - -
FUND BALANCES, BEGINNING OF YEAR, AS RESTATED 1,344,961 508,965 21,920 255,133 63,546
FUND BALANCES, END OF YEAR 1,186,687$ 538,703$ 22,308$ 263,998$ 60,005$
Special Revenue
Exhibit B-3
97
Recreational Special
Event LEOSE Crime District Donations
-$ -$ 2,266,964$ -$
- - - -
- 3,702 - -
- - 155,761 18,305
- - 312 -
- - - -
- 3,702 2,423,037 18,305
- - - -
- 1,679 - 12,969
- - - 9,176
- - - -
- 5,789 1,395,893 218
- - 104,312 5,000
- 7,468 1,500,205 27,363
- (3,766) 922,832 (9,058)
- - 40,470 -
- - - -
- - (10,000) -
- - 30,470 -
- (3,766) 953,302 (9,058)
15,835 4,366 1,669,895 46,652
- - - -
15,835 4,366 1,669,895 46,652
15,835$ 600$ 2,623,197$ 37,594$
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, 2021
98
Court Court Public Juvenile Case Hotel
Technology Security Grant Fund Art Manager Tax Fund
REVENUES
Taxes -$ -$ -$ -$ -$ 116,980$
Fines and forfeitures 21,698 26,183 - - 27,286 -
Intergovernmental 29,492 25,030 - - - -
Grants/contributions - - 206,592 - - -
Investment earnings 2 9 - 3 - 120
Miscellaneous - - - - - 864
Total revenues 51,192 51,222 206,592 3 27,286 117,964
EXPENDITURES
Current:
General government - - - - - -
Fire and rescue - - 200,116 - - -
Leisure services - - 5,362 - - 271,410
Municipal court 47,382 51,697 - - - -
Police services - - 4,203 - - -
Capital outlay - - - - - -
Total expenditures 47,382 51,697 209,681 - - 271,410
Excess (deficiency) of revenues over
expenditures 3,810 (475) (3,089) 3 27,286 (153,446)
OTHER FINANCING SOURCES (USES)
Proceeds from the sale of property - - - - - -
Transfers in - - - - - -
Transfers out - - - - - -
Total other financing sources (uses) - - - - - -
NET CHANGE IN FUND BALANCES 3,810 (475) (3,089) 3 27,286 (153,446)
FUND BALANCES, BEGINNING OF YEAR 15,798 31,757 4,520 8,122 24,486 399,006
Cumulative effect of implementation of GASB 84 - - - - - -
FUND BALANCES, BEGINNING OF YEAR, AS RESTATED 15,798 31,757 4,520 8,122 24,486 399,006
FUND BALANCES, END OF YEAR 19,608$ 31,282$ 1,431$ 8,125$ 51,772$ 245,560$
Special Revenue
Exhibit B-3
99
Total
Vehicle/ Non-Major
Colleyville Parks Park Land Equipment Governmental
Tomorrow Tomorrow Dedication Replacement Funds
-$ -$ -$ -$ 2,383,944$
- - - - 85,268
- - - - 58,224
- - - 78,314 838,720
8,819 525 - - 10,068
- - 105,071 - 106,322
8,819 525 105,071 78,314 3,482,546
- - - 140,272 144,801
- - - - 214,764
- - - - 459,648
- - - - 99,079
- - - - 1,406,103
- 139,887 710,434 287,167 1,581,909
- 139,887 710,434 427,439 3,906,304
8,819 (139,362) (605,363) (349,125) (423,758)
- - - - 40,470
- - - 524,706 524,706
- - - - (10,000)
- - - 524,706 555,176
8,819 (139,362) (605,363) 175,581 131,418
2,583,829 1,085,156 1,287,543 1,201,140 10,550,710
- - - - 21,920
2,583,829 1,085,156 1,287,543 1,201,140 10,572,630
2,592,648$ 945,794$ 682,180$ 1,376,721$ 10,704,048$
Capital Projects
City of Colleyville, Texas Exhibit B-4
Crime District Fund
Budgetary Comparison Schedule (GAAP Basis)
For the Fiscal Year Ended September 30, 2021
100
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
REVENUES
Taxes 1,900,000$ 1,900,000$ 2,266,964$ 366,964$
Investment earnings 8,000 8,000 312 (7,688)
Total revenues 1,908,000 1,908,000 2,267,276 359,276
EXPENDITURES
Police services 2,025,924 2,025,924 1,395,893 630,031
Capital outlay 262,650 262,650 104,312 158,338
Total expenditures 2,288,574 2,288,574 1,500,205 788,369
Excess of revenues
over expenditures (380,574) (380,574) 767,071 1,147,645
OTHER FINANCING SOURCES (USES)
Proceeds from the sale of property - - 40,470 40,470
Transfers out (10,000) (10,000) (10,000) -
Total other financing sources (uses )(10,000) (10,000) 30,470 40,470
Net change in fund balance (390,574) (390,574) 797,541 1,188,115
FUND BALANCE, beginning of year 1,669,895 1,669,895 1,669,895 -
FUND BALANCE, end of year 1,279,321$ 1,279,321$ 2,467,436$ 1,188,115$
Budgeted Amounts
101
Custodial Funds
The Custodial Funds are used to account for resources held for others in a custodial capacity. The City
maintains the following Custodial Funds:
Employee Activity Fund – This fund is used to account for funds held by the City for the benefit of
employees of the City.
Police Asset Forfeiture —This fund is used to account for funds received from the sale of assets seized in
criminal-related activities held until their remittance.
City of Colleyville, Texas Exhibit C-1
Statement of Fiduciary Net Position -
Employee Activity Fund and Police Asset Forfeiture Fund
September 30, 2021
102
Employee Police Asset
Activity Forfeiture
Fund Fund Total
Cash and cash equivalents 3,591$ 14,802$ 18,393$
Investments - 22,148 22,148
TOTAL ASSETS 3,591 36,950 40,541
Restricted for other purposes 3,591 36,950 40,541
3,591$ 36,950$ 40,541$
ASSETS
NET POSITION
TOTAL NET POSITION
City of Colleyville, Texas Exhibit C-2
Statement of Changes in Fiduciary Net Position -
Employee Activity Fund and Police Asset Forfeiture Fund
For the Fiscal Year Ended September 30, 2021
103
Employee Police Asset
Activity Forfeiture
Fund Fund Total
Contributions 3,686$ -$ 3,686$
Forfeitures - 18,127 18,127
Investment earnings - 5 5
TOTAL ADDITIONS 3,686 18,132 21,818
Other miscellaneous expenses 3,665 - 3,665
TOTAL DEDUCTIONS 3,665 - 3,665
21 18,132 18,153
Net position, beginning - - -
Cumulative effect of change in
accounting principle 3,570 18,818 22,388
Net position, beginning, as restated 3,570 18,818 22,388
3,591$ 36,950$ 40,541$
ADDITIONS
DEDUCTIONS
CHANGE IN NET POSITION
NET POSITION, ENDING
104
This Page Intentionally Left Blank
105
Statistical Section
106
This Page Intentionally Left Blank
107
Statistical Section
This part of the City of Colleyville Annual Comprehensive 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 .................................................................................................................................. 108
These schedules contain trend information intended to help the reader understand how the City's
financial position has changed over time.
Revenue Capacity Information ............................................................................................................................ 114
These schedules contain information intended to help the reader assess the City's most significant revenue
source, property taxes.
Debt Capacity Information ................................................................................................................................... 119
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 ......................................................................................................... 124
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 ........................................................................................................................................... 127
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)
108
2012 2013 2014 2015 2016
Governmental activities
Net investment in capital assets 83,211,988$ 84,414,252$ 89,754,051$ 98,958,693$ 97,982,160$
Restricted for:
Debt service 1,159,092 857,143 831,073 744,295 692,093
Court Security and technology 91,637 101,411 109,766 154,901 215,142
Grant programs 21,116 16,489 9,190 9,844 10,751
Leisure services 207,736 207,770 224,064 233,472 233,290
Economic development 1,998,845 2,277,373 2,733,995 2,975,894 3,456,897
Police 1,143,454 1,223,271 1,403,502 1,485,735 1,485,771
Historical purposes - - - - -
Unrestricted 27,752,287 27,113,566 30,119,775 34,519,503 36,767,262
Total governmental activities net position 115,586,155$ 116,211,275$ 125,185,416$ 139,082,337$ 140,843,366$
Business-type activities
Net investment in capital assets 38,395,708$ 39,269,943$ 41,567,161$ 44,823,618$ 44,010,618$
Unrestricted 12,332,238 13,702,724 14,827,594 15,260,882 17,263,830
Total business-type activities net position 50,727,946$ 52,972,667$ 56,394,755$ 60,084,500$ 61,274,448$
Primary government
Net investment in capital assets 121,607,696$ 123,684,195$ 131,321,212$ 143,782,311$ 141,992,778$
Restricted for:
Debt service 1,159,092 857,143 831,073 744,295 692,093
Court Security and technology 91,637 101,411 109,766 154,901 215,142
Grant programs 21,116 16,489 9,190 9,844 10,751
Leisure services 207,736 207,770 224,064 233,472 233,290
Economic development 1,998,845 2,277,373 2,733,995 2,975,894 3,456,897
Police 1,143,454 1,223,271 1,403,502 1,485,735 1,485,771
Unrestricted 40,084,525 40,816,290 44,947,369 49,780,385 54,031,092
Total primary governmental net position 166,314,101$ 169,183,942$ 181,580,171$ 199,166,837$ 202,117,814$
Source: Comprehensive Annual Financial Report
Fiscal Year
Table 1
109
2017 2018 2019 2020 2021
99,881,334$ 100,382,597$ 101,081,404$ 106,590,088$ 113,142,374$
612,641 1,936,893 1,476,905 1,116,977 1,059,604
158,853 74,767 63,506 72,041 102,662
11,530 1,554 74,119 4,520 1,431
353,561 564,555 612,500 509,204 343,159
4,221,531 4,471,253 4,150,118 4,479,889 6,217,460
1,560,027 1,455,308 1,318,021 1,693,079 2,623,797
- - - - 23,308
35,773,373 35,878,519 35,780,949 35,586,831 36,262,212
142,572,850$ 144,765,446$ 144,557,522$ 150,052,629$ 159,776,007$
44,123,735$ 43,560,389$ 42,652,195$ 44,311,565$ 45,950,733$
19,185,890 22,400,538 24,441,942 24,163,534 23,453,069
63,309,625$ 65,960,927$ 67,094,137$ 68,475,099$ 69,403,802$
144,005,069$ 143,942,986$ 143,733,599$ 150,901,653$ 159,093,107$
612,641 1,936,893 1,476,905 1,116,977 1,059,604
158,853 74,767 63,506 72,041 102,662
11,530 1,554 74,119 4,520 1,431
353,561 564,555 612,500 509,204 343,159
4,221,531 4,471,253 4,150,118 4,479,889 6,217,460
1,560,027 1,455,308 1,318,021 1,693,079 2,623,797
54,959,263 58,279,057 60,222,891 59,750,365 59,715,281
205,882,475$ 210,726,373$ 211,651,659$ 218,527,728$ 229,156,501$
Fiscal Year
City of Colleyville, Texas
Changes in Net Position, Last Ten Fiscal Years
(Accrual Basis of Accounting)
(Unaudited)
110
2012 2013 2014 2015 2016
Expenses
Governmental activities:
General government 3,125,214$ 4,075,001$ 4,103,928$ 4,676,185$ 4,449,317$
Community development and engineering 1,397,839 1,429,755 1,613,311 1,582,461 1,558,750
Fire 4,321,929 4,529,225 4,625,036 5,264,026 4,783,421
Leisure services 4,124,619 4,106,822 3,776,068 4,042,252 4,701,443
Maintenance 400,306 494,545 575,696 684,301 689,861
Municipal court 319,445 586,709 501,604 522,422 448,420
Police 4,579,570 4,961,444 5,019,343 5,681,698 5,734,116
Streets and drainage 3,073,530 5,322,510 4,128,365 4,404,701 5,150,390
Interest on long-term debt 780,029 724,458 717,045 536,161 614,159
Total governmental activities expenses 22,122,481 26,230,469 25,060,396 27,394,207 28,129,877
Business-type activities:
Water and sewer 12,258,587 12,544,530 13,238,893 14,055,232 13,995,038
Drainage 723,994 707,647 571,886 833,599 563,268
Total business-type activities expenses 12,982,581 13,252,177 13,810,779 14,888,831 14,558,306
Total primary government expenses 35,105,062$ 39,482,646$ 38,871,175$ 42,283,038$ 42,688,183$
Program revenues
Governmental activities:
Charges for Services:
General government 28,408$ 15,000$ 15,000$ 17,500$ 15,075$
Community development 1,146,518 927,690 1,387,329 1,587,038 1,356,581
Fire and rescue 335,308 308,339 377,021 327,264 387,705
Leisure services 520,433 501,260 510,991 503,098 505,203
Municipal court 1,015,804 1,271,095 1,268,447 1,474,485 1,306,924
Police 81,056 70,513 71,022 75,415 93,566
Streets and drainage 338,845 316,338 347,565 802,551 794,169
Operating grants and contributions 490,069 468,361 486,689 450,559 514,845
Capital grants and contributions 381,308 1,158,050 5,943,465 7,712,266 319,541
Total governmental activities program revenues 4,337,749 5,036,646 10,407,529 12,950,176 5,293,609
Business-type activities:
Charges for services:
Water and sewer 14,034,600 14,661,491 14,789,641 15,800,163 15,499,159
Drainage 918,323 928,863 939,868 948,565 954,642
Capital grants and contributions 169,464 876,660 2,707,835 2,362,261 43,104
Total business-type activities program revenues 15,122,387 16,467,014 18,437,344 19,110,989 16,496,905
Total primary government program revenues 19,460,136$ 21,503,660$ 28,844,873$ 32,061,165$ 21,790,514$
Net (expenses) revenue
Governmental activities (17,784,732)$ (21,193,823)$ (14,652,867)$ (14,444,031)$ (22,836,268)$
Business-type activities 2,139,806 3,214,837 4,626,565 4,222,158 1,938,599
Total primary government net expenses (15,644,926)$ (17,978,986)$ (10,026,302)$ (10,221,873)$ (20,897,669)$
General revenues and other changes in net position
Governmental activities:
Taxes:
Property taxes 12,414,457$ 12,497,692$ 12,950,832$ 13,493,621$ 13,790,347$
Franchise taxes 2,207,463 2,074,731 2,172,801 2,319,723 2,206,890
Sales taxes 5,495,730 5,902,557 6,472,195 6,705,914 7,252,963
Other 65,808 68,592 98,160 107,977 106,607
Interest on investments 108,192 77,269 39,697 100,843 142,343
Gain (Loss) on sale of capital assets 147,969 - 810,020 - 51,849
Transfers 1,081,868 1,112,540 1,180,292 1,178,590 895,668
Miscellaneous 74,041 85,562 61,643 82,873 150,630
Total governmental activities 21,595,528 21,818,943 23,785,640 23,989,541 24,597,297
Business-type activities:
Interest on investments 4,084 38,987 23,655 52,480 76,014
Gain (Loss) on sale of capital assets - 103,437 40,814 5,062 71,003
Transfers (1,081,868) (1,112,540) (1,180,292) (1,178,590) (895,668)
Miscellaneous - - - - -
Total business-type activities (1,077,784) (970,116) (1,115,823) (1,121,048) (748,651)
Total primary government 20,517,744$ 20,848,827$ 22,669,817$ 22,868,493$ 23,848,646$
Change in net position
Governmental activities 3,810,796$ 625,120$ 9,132,773$ 9,545,510$ 1,761,029$
Business-type activities 1,062,022 2,244,721 3,510,742 3,101,110 1,189,948
Total primary government 4,872,818$ 2,869,841$ 12,643,515$ 12,646,620$ 2,950,977$
Source: Comprehensive Annual Financial Report
Fiscal Year
Table 2
111
2017 2018 2019 2020 2021
4,881,741$ 5,330,690$ 5,791,827$ 5,788,907$ 5,668,238$
1,672,823 1,387,909 1,398,052 1,609,571 1,591,996
5,524,975 5,690,454 6,192,307 6,437,928 6,740,521
4,987,965 4,271,760 4,710,673 4,569,933 4,499,889
1,243,614 738,834 770,762 729,754 775,477
606,269 595,879 575,098 579,980 638,025
6,093,309 6,634,046 6,749,202 7,204,613 6,978,311
3,578,365 4,009,383 6,181,453 4,647,801 4,696,395
408,268 334,839 300,840 240,231 111,944
28,997,329 28,993,794 32,670,214 31,808,718 31,700,796
14,779,262 15,257,125 15,463,642 17,054,796 16,334,509
646,145 740,994 863,826 730,346 812,505
15,425,407 15,998,119 16,327,468 17,785,142 17,147,014
44,422,736$ 44,991,913$ 48,997,682$ 49,593,860$ 48,847,810$
338,857$ 35,684$ 29,800$ 14,488$ 28,033$
1,148,293 1,447,081 1,361,965 1,399,114 1,131,498
340,630 378,019 397,646 397,612 399,288
553,633 563,228 521,448 228,218 453,096
1,181,280 1,110,960 1,123,157 1,095,647 1,222,696
98,859 101,662 93,495 75,993 65,379
634,918 758,952 579,408 323,883 267,372
507,616 614,794 771,681 2,346,529 3,491,361
1,302,174 406,094 369,126 3,756,508 198,935
6,106,260 5,416,474 5,247,726 9,637,992 7,257,658
15,956,329 17,332,891 16,057,020 16,845,727 17,422,265
985,636 1,001,180 1,011,428 1,007,514 1,013,401
481,413 277,639 188,749 1,244,335 -
17,423,378 18,611,710 17,257,197 19,097,576 18,435,666
23,529,638$ 24,028,184$ 22,504,923$ 28,735,568$ 25,693,324$
(22,891,069)$ (23,577,320)$ (27,422,488)$ (22,170,726)$ (24,443,138)$
1,997,971 2,613,591 929,729 1,312,434 1,288,652
(20,893,098)$ (20,963,729)$ (26,492,759)$ (20,858,292)$ (23,154,486)$
14,548,461$ 15,471,246$ 15,676,533$ 16,075,481$ 16,398,025$
2,105,881 1,982,578 2,086,683 1,874,032 1,724,583
7,304,507 7,578,861 7,584,353 8,248,647 9,445,150
263,587 351,715 350,411 198,861 235,209
148,933 315,611 967,396 544,752 99,055
17,000 51,620 14,116 250,601 61,287
63,319 - 270,403 250,030 409,276
168,865 126,859 89,869 223,429 5,787,102
24,620,553 25,878,490 27,039,764 27,665,833 34,159,687
100,525 - 455,178 256,811 31,280
- - - 18,980 -
(63,319) (260,238) (270,403) (250,030) (409,276)
- 183,685 18,706 42,767 17,652
37,206 (76,553) 203,481 68,528 (360,344)
24,657,759$ 25,801,937$ 27,243,245$ 27,734,361$ 33,799,343$
1,729,484$ 2,301,170$ (382,724)$ 5,495,107$ 9,716,549$
2,035,177 2,537,038 1,133,210 1,380,962 928,308
3,764,661$ 4,838,208$ 750,486$ 6,876,069$ 10,644,857$
Fiscal Year
City of Colleyville, Texas Table 3 Fund Balances - Governmental Funds (Modified Accrual Basis of Accounting) Last Ten Fiscal Years (Unaudited) 112 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021General fundNonspendable 132,664$ 1,759$ 1,269$ 2,119$ 9,388$ 11,152$ 21,584$ 1,291$ 818$ 23,150$ Committed 813,536 813,536 813,536 813,536 796,438 682,156 659,712 655,546 655,546 660,687 Unassigned 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 10,233,533 Total general fund12,708,825$ 11,822,011$ 10,895,422$ 9,552,401$ 9,525,446$ 9,560,068$ 9,673,295$ 9,759,336$ 13,271,264$ 10,917,370$ All other governmental fundsRestricted 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$ 10,377,614$ Committed 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 25,654,094 Assigned 954,818 910,611 765,908 812,939 996,929 1,119,062 1,445,725 1,507,341 1,255,097 1,400,681 Unassigned - (4,975) - - - - - - - - Total all other governmental funds20,042,646$ 20,358,601$ 25,130,987$ 27,490,512$ 29,531,901$ 30,971,425$ 32,585,672$ 33,991,788$ 32,074,164$ 37,432,389$ 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) 113 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021REVENUESTaxes 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$ 28,047,838$ Licenses, permits and fees 1,130,426 857,135 1,090,012 1,303,710 1,337,928 1,049,673 1,237,198 1,141,959 974,336 911,816 Capital improvement fees 322,498 300,900 333,496 785,992 766,398 612,134 744,465 568,533 315,183 261,447 Charges for services 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 1,428,375 Fines and forfeitures 1,030,439 1,321,927 1,577,564 1,571,510 1,398,579 1,485,658 858,709 806,572 728,418 778,894 Interest 110,550 77,269 39,697 100,842 142,330 148,909 315,611 967,396 550,796 99,055 Intergovernmental 124,056 76,506 556,954 1,377,763 224,367 668,469 950,817 854,005 856,720 5,771,510 Grants/Contributions 406,789 487,066 918,613 981,282 421,497 449,130 328,598 667,736 2,062,719 3,371,752 Miscellaneous 89,041 100,562 76,643 97,873 165,642 183,889 127,626 85,935 313,260 274,059 Total revenues 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 40,944,746 EXPENDITURESGeneral government 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 5,085,306 Community development 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 1,606,549 Fire 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 6,361,196 Police 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 6,543,861 Leisure services 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 3,532,856 Streets and drainage 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 2,302,515 Municipal court 319,084 586,911 501,027 508,566 461,393 5,498,406 595,879 575,098 579,980 638,025 Maintenance 394,830 489,685 570,011 662,480 690,007 1,515,283 701,424 744,107 670,108 729,083 Capital outlay 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 6,840,537 Debt servicePrincipal retirement 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 5,531,733 Interest and fiscal charges 757,594 697,140 716,228 524,414 563,660 420,477 375,647 312,988 255,859 150,880 Total expenditures 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 39,322,541 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 1,724,973 (1,892,824) 2,010,472 (182,684) 932,583 852,754 1,042,331 1,050,634 987,278 1,622,205 OTHER FINANCING SOURCES (USES)Refunding bonds - - 7,330,000 - 6,225,000 - - - - - Capital lease 894,534 209,425 - - - 541,073 356,459 - - 938,461 Sale of capital assets 147,969 - 925,033 20,598 95,796 17,000 50,651 14,116 326,996 61,287 Premium on bond issue - - - - 239,163 - - - - - Payments to escrow - - (7,600,000) - (6,373,776) - - - - - Transfers in 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 4,226,761 Transfers out (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) (3,817,485) Total other financing sources (uses) 2,124,371 1,321,965 1,835,325 1,199,188 1,081,851 621,392 667,348 284,519 577,026 1,409,024 NET CHANGE IN FUND BALANCES3,849,344$ (570,859)$ 3,845,797$ 1,016,504$ 2,014,434$ 1,474,146$ 1,709,679$ 1,335,153$ 1,564,304$ 3,031,229$ Debt service as a percentage of noncapital expenditures 13.6% 12.3% 9.3% 8.3% 8.0% 10.4% 10.0% 8.7% 6.7% 17.5% 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)
114
Fiscal Year
Real
Property
Personal
Property
Less: Tax-Exempt
Property
Total Taxable
Assessed Value
Total Direct Tax
Rate
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
2021 6,476,173,723 179,108,894 444,673,050 5,966,966,320 0.30437
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) 115 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 District Tarrant CountyTarrant County College DistrictTarrant County Hospital District2012 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 2021 0.28944 0.01493 0.30437 1.38030 1.286400 1.303100 1.198000 1.394700 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)
116
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$ 0.78% Velocis Colleyville LP 28,834,127$ 0.69%
2 KRG Colleyville LLC 28,813,000 0.48% Toll Dallas TX LLC 25,472,505 0.61%
3 Oncor Electric Delivery Co LLC 19,847,303 0.33% Oncor Electric Delivery 15,253,623 0.36%
4 LTF Real Estate MP I LLC 13,685,000 0.23% Lifetime Fitness Real Estate 14,150,256 0.34%
5 Welltower Inc 11,090,843 0.19% Colleyville Lofts LLC 9,502,079 0.23%
6 Colleyville Lofts Venture LLC 9,900,000 0.17% USMC Colleyville LLC 8,510,000 0.20%
7 Atmos Energy/Mid Tex Division 9,436,990 0.16% Wal-Mart Real Estate Business Trust 7,388,287 0.18%
8 Colleyville Lodging LLC 7,965,476 0.13% Standard Pacific of Texas Inc 6,045,302 0.14%
9 Mainvue TX LLC 7,044,412 0.12% G Points SC LTD 5,750,000 0.14%
10 Eagle-Colleyville Towne Square 6,977,649 0.12% Duke Realty BEMC Colleyville 5,229,575 0.12%
Total 161,124,933$ 2.71%Total 126,135,754$ 3.01%
Total assessed valuation 5,966,966,320 100.00% Total assessed valuation 4,204,525,133 100.00%
Source: Tarrant Appraisal District
a Taxpayers are assessed on January 1, 2020 (2020 tax year) for the 2021 fiscal year.
b Taxpayers are assessed on January 1, 2015 (2015 tax year) for the 2016 fiscal year.
20162021
City of Colleyville, Texas Table 8
Property Tax Levies and Collections
Last Ten Fiscal Years
(Unaudited)
117
Fiscal Year
Taxes Lev ied for
the Fiscal Year Amount
Percentage of
Levy
Collections in
Subsequent
Years Amount
Percentage of
Levy
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 16,630,984 99.63%
2019 16,902,499 16,847,431 99.70% 58,840 16,906,271 99.85%
2020 17,317,428 17,220,445 99.44% - 17,220,445 99.44%
2021 17,582,870 17,531,183 99.71% - 17,531,183 99.71%
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)
118
Percentage Percentage
of Total City of Total City
Water Water Water Water
Taxpayer Usage Usage Usage Usage
City Government 43,751,500 1.71% 57,689,200 2.62%
School District 24,442,600 0.96% 50,102,700 2.28%
Homeowners Assoc 3,579,700 0.14% 27,466,600 1.25%
Shopping Center 7,290,200 0.29% 11,122,300 0.51%
Fitness Center 8,870,000 0.35% 10,930,700 0.50%
Cemetery 8,652,800 0.34% 6,075,800 0.28%
Building Construction 10,963,600 0.43% - - %
Irrigation 7,547,200 0.30% - - %
Grocery Store 4,639,600 0.18% - - %
Radio Broadcasting 4,468,800 0.17% - - %
Shopping Center 3,607,500 0.14% - - %
Hotel 3,518,100 0.14% - - %
Total 131,331,600 5.15% 163,387,300 7.44%
Notes: City chose not to include the exact names to protect the customers confidentiality.
Source: City utility billing records
2021 2012
City of Colleyville, Texas Table 10 Ratio of Outstanding Debt by Type Last Ten Fiscal Years (Unaudited) 119 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 a2012 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 2021 2,700,000 - 950,476 172,787 - - - - 3,823,263 1807.48% 148 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)
120
Percentage of
General Less: Available Actual Taxable
Fiscal Obligation Debt Service Value of
Year Bonds Funds Total Property
a Per Capita b
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
2021 2,700,000 1,066,797 1,633,203 0.03% 104
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, 2021
(Unaudited)
121
Gross Bonded
Debt
Percentage of
Debt Applicable
to Area
Share of
Overlapping Debt
Debt repaid with property taxes
Birdville Independent School District 279,353,750$ 0.07% 195,548$
Carroll Independent School District 203,975,926 0.37% 754,711
Grapevine-Colleyville Independent School District 432,190,041 22.76% 98,366,453
Hurst-Euless-Bedford Independent School District 255,891,703 1.58% 4,043,089
Keller Independent School District 744,155,814 3.50% 26,045,453
Tarrant County 352,936,015 2.96% 10,446,906
Tarrant County College District - 3.17% -
Tarrant County Hospital District 22,335,000 2.96% 661,116
Subtotal, overlapping debt 140,513,275
City of Colleyville (direct debt) 3,468,747 100.00% 3,468,747
Total direct and overlapping debt 143,982,022$
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)
122
Fiscal Total Less: Operating Net Available Annual Times
Year Revenues a Expenses b Revenue Requirement c Coverage
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
2021 17,471,197 14,709,115 2,762,082 - 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
123
Fiscal Total Less: Operating Net Available Annual Times Sales Tax Annual Times
Year Rev enues
a Expenses b Revenue Requirement
c Coverage Increment Requirement
c Coverage
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
2021 1,013,401 660,087 353,314 - N/A 2,390,336 481,225 4.97
Drainage Revenue Bonds Sales Tax Bonds
City of Colleyville, Texas Table 14
Demographic and Economic Statistics
Last Ten Calendar Years
(Unaudited)
124
Per Capita
Fiscal Estimated Personal Personal School Unemployment
Year Population
a Income Income Enrollment
b Rate c
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%
2021 25,920 211,525 76,635 14,040 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) 125 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% Albertsons 107 1.05%Whole Foods Market 125 1.21% Covenant Christian Academy 95 0.93%Albertsons 118 1.14% LaHacienda Ranch 80 0.78%LaHacienda Ranch 100 0.97% TGW Insurance 75 0.74%Walmart Neighborhood Market 72 0.70% Sonshine Academy 64 0.63%US Memory Care 60 0.58% Mac's Steak and Seafo0d 60 0.59%Total 2,017 19.49% Total 1,970 19.32%Total Colleyville Daytime Employees 10,358 Total Colleyville Daytime Employees 10,198Source: City of Colleyville Economic Development 20212012
City of Colleyville, Texas Table 16 Full-Time Equivalent City Government Employees By Function/Program Last Ten Fiscal Years (Unaudited) 126 Function/Program 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021General governmentManagement services 4.00 4.00 4.00 4.00 3.75 5.00 4.20 3.20 3.20 3.20 *Court4.00 Finance/court 6.00 8.00 8.00 8.00 8.00 9.00 9.00 9.00 9.00 4.00 Planning 2.00 2.00 4.00 3.00 4.00 4.00 4.00 4.00 4.00 4.00 Building 3.00 3.00 3.50 5.00 5.00 5.00 5.00 5.00 5.00 5.00 Other 11.00 13.00 11.63 13.52 14.14 12.14 12.80 11.80 11.80 11.80 PoliceOfficers 39.00 40.00 41.00 42.50 43.00 43.00 41.00 41.00 44.00 44.00 Civilians 6.00 6.00 6.50 7.00 6.50 6.00 8.00 8.00 6.73 6.73 FireFirefighters and officers 35.00 36.00 38.00 41.00 41.00 41.00 40.00 40.00 43.00 43.00 Civilians 1.00 1.00 1.00 1.00 1.00 1.00 1.50 1.50 1.50 1.50 Other public worksEngineering 3.00 3.00 4.05 3.95 4.75 2.75 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 2.00 2.00 Streets 10.00 7.00 8.35 8.35 8.35 8.35 8.35 8.35 8.85 8.85 Parks and recreation 16.00 16.00 15.75 15.00 15.00 17.00 17.00 16.00 16.00 16.00 Library 11.50 12.00 13.00 13.63 13.00 13.00 13.00 12.50 12.50 12.50 Colleyville Center 4.50 3.50 4.00 4.50 4.50 4.00 4.00 4.00 4.00 4.00 Water/wastewater 24.50 23.00 24.68 25.03 24.23 25.60 24.70 24.70 24.70 26.70 Drainage 6.00 7.00 6.00 6.00 6.41 6.41 6.20 6.20 6.20 6.20 Total185.50 187.50 196.46 204.48 205.63 206.25 204.50 201.00 205.23 206.23 Source: City budgetFiscal Year*As of FY21, the Colleyville/Keller Municipal Court reports directly to City Management. Previously, it was out of the Finance Department.
City of Colleyville, Texas Table 17 Operating Indicators By Function/Program Last Ten Fiscal Years (Unaudited) 127 Function/Program 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021General governmentBuilding permits issued 155 103 108 181 182 136 169 111 82 61Building inspections conducted 8,310 8,292 7,807 7,307 8,940 10,666 11,981 10,519 7,321 6,970PolicePhysical arrests 653 632 863 800 918 602 715 491 190 234Calls for service 48,076 61,270 58,522 51,537 43,492 34,437 33,765 30,296 51,364 49,445Traffic violations 11,980 11,766 19,955 21,450 20,790 13,016 15,832 12,804 4,603 5,505FireEmergency responses 724 557 627 694 1,783 1,768 1,758 1,797 1,779 2,246Ambulance calls 803 829 950 959 1,037 967 1,000 1,004 939 1,089Inspections 342 306 317 363 400 361 239 386 352 393Other public worksStreet resurfacing (miles) 1.0 4.0 1.7 3.7 10.9 6.8 6.0 21.9 7.0 10.0Parks and recreationAthletic field participants 3,946 4,287 4,315 4,434 4,302 4,517 4,386 4,570 2,500 4,361Community center rentals 404 398 412 452 376 405 320 314 128 200LibraryVolumes in collection 65,740 69,736 74,525 77,664 80,452 82,182 71,188 70,161 74,939 72,871Total volumes borrowed 244,613 250,737 234,667 228,160 222,128 227,252 237,124 234,477 145,218 246,043WaterCustomers 9,285 9,396 9,507 9,631 9,858 9,987 10,215 10,422 10,487 10,608Average daily consumption (thousands of gallons) 7,217 6,785 6,539 6,451 5,889 6,355 6,508 6,794 7,274 6,679Peak daily consumption (thousands of gallons) 18,707 17,052 15,204 19,866 15,724 12,434 15,830 14,616 17,562 13,497WastewaterCustomers 8,603 8,731 8,817 8,905 9,071 9,270 9,444 9,453 9,619 9,832Source: City departmentsFiscal Year
City of Colleyville, Texas Table 18 Capital Asset Statistics By Function/Program Last Ten Fiscal Years (Unaudited) 128 Function/Program 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021Police Stations 1 1 1 1 1 1 1 1 1 1 Patrol units 12 12 12 13 13 13 13 13 13 13 FireStations 3 3 3 3 3 3 3 3 3 3 Public worksStreets (miles) 282 282 283 283 283 289 289 289 289 289 Streetlights 1,169 1,175 1,175 1,227 1,269 1,269 1,338 1,338 1,338 1,338 Traffic signals 2 2 2 2 2 2 2 2 2 2 Parks and recreationAcreage 224 224 224 224 225 225 225 225 225 225 Playgrounds 6 6 6 6 7 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) 201 202 204 205 206 206 206 206 206 206 Fire hydrants 1,389 1,389 1,403 1,422 1,507 1,517 1,521 1,529 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 169 170 172 172 179 180 180 180 180 180 Storm sewers (miles) 64 58 60 67 69 70 70 70 70 70 Source: City departmentsa Baseball, softball, soccer and multipurpose fields combined through 2014Fiscal Year