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Home My WebLink About2003 City of Wheat Ridge Comprehensive Annual Financial Report December 31, 2003 CITY OF WHEA T RIDGE. COLORADO BASIC FINANCIAL STATEMENTS December 31, 2003 T ABLE OF CONTENTS PAGE INTRODl1CTORY SECTION Directory of Pnnclpal Clt: Officials FINANCIAL ~ECTlOl'i Independent Auditors' Report Management S DIscussIOn and AnalYSIS a-h Basic Financial Statl'nH'nts 'Statement o[1'>let A.ssets Statement of ActiVIties 2 Balance :-'heet - Grl\ ernmental Funds " .' 'Statement of Revenues. F'\pendltures and Changes In hllld Balances - Governmental J-unds 4 Reconciliation of the :-'tatcment of Revenues. Expenditures and Changes 111 Fund Balance, of C,overnmental Funds to the Statement of ActiVities 5 Budgetary Companson 'Statement - General Fund 6 Budgetary Comparison "tatement - Recreation Center Operatlllg 7 Notes to FlIlanclal ~tatements 8 - 19 Cumbining and Individual Fund Statements and Schedules C ombll1l11g Balancc 'Sheet - NonmaJor Governmental Funds 20 - 2] C ombll1l11g "talemenl ofRev.enues. Expenditures and Changes 111 Fund Balances- NonmaJor Gm crnmental Funds 22 - 23 Upen "pace - Budgetary C ompanson ~chedule 24 Police Investigation - Budgetary Companson Schedule 25 Park ACl.jlllSitlon - Budgetary Companson Schedule 26 ~el1lor!T een l enler - Budgetary C ompanson <ichedule 27 Munlclpall "un - Budgetary C ompanson Schedule 28 Rlchardsc'Hartlmpnl\ cmcnt -Budgetary Companson Schedule 29 TABLE OF CONTENTS (Con1Jnued) PAGE FINANCIAL SECTION (ContJllued) Cumbining and Indi"idual Fund StaH'ment~ and Schedules (Continued) l'roan Renewal Authorl1~ - Budgetary C Oll1paflSOn 'ichedule 30 EqUlpment - Budgetal'\ C oll1panson :-,chedule 31 Conservation Trust - Budgetary Compaflson Schedule "" .'- Computer - Budgetary Comparison Schedule " , _1_1 Baugh House - Budgetary COll1paflSOn 5>chedule 34 Hotel/Motel - Budgetary Compaflson Schedule 3~ C apl1al Projects - Budgetary C Oll1paflSOn Schedule 36 Sl'PPLEl\1 ENTARY INt~ORl\1A TION local Highway FJIlance Repon 3; - 38 CIn OF WHEA T RIDGE, COLORADO PHI'\'ClPAL CITY OFFICIALS December 31, 2003 MAYOR Gretchen Cerveny CITY COllNClL Dis/ricl j Di.\/ric/ ;: Dis/ricr 3 i\.aren Bcr[\ Jerry DiTullio Dean Goke, \\ anda ~ang Karen Adams Mike Sl1tes CITY CLERK Pam Anderson MUNlClPAL JUDGE Christopher Randall CITY TREASURER Mary Cavarra CITY A TTOR.1'\'EY Gerald Dahl CITY MANAGER Randy Young DlRECTOR OF PLANNING Alan While DlRECTOR OF PARKS & RECREATION Joyce Manwanng DlRECTOR OF PllBLlC WORKS Timothy Paranlo CHlEF OF POLICE Jack Hurst DlRECTOR OF ADMINlSTRATlVE SERVlCES Patnck Goff HUMAN RESOllRCE MANAGER Karen Croom l)lJRCHASING AGENT Linda Tnmble ACCOUNTING SUPERVISOR LInda Stengel Dis//'lc/ 4 Lena Rotola Larry ~chulz FINANCIAL SECTION 3&C Swanhorst & Cutler LLC Ic'I',i!i"dl'ubllC:\""'1111IdI11 HonnratJle Mayor and MemtJers of the Cit~ louncil Citv of Wheat R]dge Wheat RIdge C 0lnr3do )"'DEPENDENT AUDITORS' REPORT \Ve have audited the accompanYlJlg finanual statement, of the gpvernmental activities each maioI' fund and the ill,'-l,'-rega1e remallling fund ]nl'lrll13tion of the Cit~ nfWheat Ridge C oll'r<ldo as of and fnr the \ ear ended DecemtJer 3].2003 l\hlCh cnllectlvel~ lompri"e the naslc financial >1atements of the Cit~. as listed III the table nf cnntents. These financial statement' are the resp<lnsitJilit\ nf the l it~ 'management. nul' le"Jx.nsiniht~ is to e"pre" npini<lns on these jinancial stakment, tJased nn nul' audit. \\e conducled our <luditlll accordan,e wi1h audi1ing standards gl'nerall~ ilclTpted inthc Llnited "tates ofAmenc3. Thosl standards require that II e plan and rerforJl1 the audit \(l ontain rea'nnab1e a"urance anpu1 whethn the financial statements are free of m3terial nmstatemcnt 4n audn includes c"3minlllg. on 3 lest nasi, el'idcncc suprOJ1l1lg the anlOunb and disclosures in the finanllal statement, 4n audn 31s1' includes a,ses<,ing the accnunting principle, used and sil,'-niJicant est]mates milde b~ management. as lIell as e\aluatlllg the ",'erall iinallciaJ st31emen1 prcsentat]on We hel ieve that our iludl1 provides a rLa'l'nahle basis lor our op]nlons. In our opilllon. the financial statemell1s re1elTed 10 ,]bove present fairl~ In all matenal resrects. the financ]al pOSI1](ln oj the governmental actiVities. each major fund and the a~gregil1e remaining fund mformatlon of the City of Wheat R ]dgl Colorado as of December 31.1003. and the respective change' III financial rositlon and the budgetar~ comparisons 10r the general and recre;I1](.n center ol'erallng funds for the year then cnded in conformit~ \\l1h accounting pnnClrlcs generally alcepted in the I nlted "tales of Amenca. As dlscu"ed In Nple 10 to the linancial statements. the CI1~ of Wheat Ridge. Colorado adopted the ,tandards nf Governmell1al 4ccollll1mg Standards Board <';tatements No 34 and 38 for the year ended December 3] 2003 The management s disu]<,5lon and analysis is not a required paJ1 of the tJa,ic financial statements but is supplemenlar~ informatinn required b~ the Governmental Accounting Standard' Board We have appl1ed cel1ain liml1ed procedures. which consiqed pril1l'lpall~ of mlJuiries of manat'emell1 regmdint' the methnds nj measurcment and presentation of the surplementaJ'\ IIllormation. Howe\er \\e did nnt audit the IIllmmat]on and e"pres:; no Opl1110ll Oll it Uur audit I\<" l(lndul.ted lor the purpose of Ic.nlllng (lpiniom on the 1inanc]al statement' that L(,llectivel~ comprise the llt\ of Wheat R]dge Colorado, basic finanCial statemCll1s The lom\,inmg alld individual 1und sta1emel11S and schedules and suprlementar~ mforma1lon listed in the t,lble of contents are presented for purposes of additional analysis and arc nm a required part of the basIL 1inancial statements Such information ha" been subjected 10 the <Iudiling prncedures applied ]n the a\ldn oIthe ha'IC fl11Cll1Clal statc-menb and. ]n our upinwn. i5 fa]rh Slated in al11ll3tcrial resrect, in relmlonto the ba"iL final1l ial stall'mcnb ta~cn as a "hole The 5talistical inlorllla1]on ha5 not been sul'iected to the auditll1g I'l'<xedures arplied in the audit of the hasll' iinanc]al ,talemenJ<, and accordlngl~. \\e c"press 110 opinion on it ~~~~ March 26 ~(11I4 X400 [ <. rescent Park\va) . <;'111te 600' (n'eenwClCld Village, CO ROlli. (nO) 52R-4306 Fax ~nO) 52R-4307 Management's Discussion and Analysis As management of the Clty of Wheat RJdge, we offer th]s narratIve overVJew and analysIs of the finanCIal actJVHJeS of the Ctty of Wheat RIdge for the fiscal year that ended December 3],2003 Please read H 111 conjunctIOn WIth the transmIttal letter at the front oftlllS repon and the CHy' s financIal statements, whIch follow this sectIOn Financial Highlights . The assets of the City of \\'hcat RIdge exceeded Jts habilItJes at the close of fiscal year 2003 by $5] 6 million Inet assets) Oft]lIS amount. $]] 5 mdlion (unrestncted net assets) may be used to meet the CIty s ongomg oblIgatIOns to citJzens and credttors. . At the close of fiscal year 2003, the Clly of\Vheat Rldge's governmental funds reponed combmed end1l1g fund balances of $] 3 4 mJlllOn. a decrease of $30,434 m companson WIth the pnor year Approxlmately 870'0, $]] 7 millIOn, IS avadable for spendmg at the gO\ernment's dlscrctlon (unreserved fund balance) . At the end of the fiscal year 2003, unresen ed fund balance for the general fund was $5 8 mJllIon, or 35% oftota1 general fund expendllures . General fund actual re\enues e:\ceeded budgeted revenue by $] 10,446 for the fiscal year 2003 and actual expendHures \\<ere $] ] mdllon less than budgeted expendItures 0, en'iew of the Financial Statements ThJS dIScussIon and analYSIS are mtended to serve as an mtroductlon to the Clty of Wheat RIdge's basJC finanCIal statements. The baSIC finanCIal statements compnse three components ]) gO\ernment-\\'lde finanCIal statements, 2) fund finanCIal statements, and 3) notes to the finanCIal statements. ThIS repon also contams other supplementary mformatton m addnlOn to the basJC finanClal statements themselves. Government-wide financial statements. The government-wIde finanCIal statements repon mformatlOn on all act1vltles of the CHy and 1ts component umt (Wheat RIdge Urban Renewal Authonty) The statement of net assets mcludes all of the CIty'S assets and habllltles All of the current year's re\enues and expenses are accounted for m the statement of actIVItIes regardless of when cash IS receIved or paJd. The statement of net assets presents mformatIon on all of the Clly of Wheat RIdge's assets and habllJtIes, WIth the dIfference between the two reponed as net assets. Over tlme, mcreases or decreases m net assets may serve as a useful mdtcator of whether the finanCIal pOSItIon of the CJty of Wheat RIdge IS Improvmg or detenoratmg. The statement of activities presents mformatlon showmg hO\\< the CIty of Wheat RIdge's net asscts changed dunng fiscal year 2003 All changes m net assets are reponed as soon as the underlymg c\ enl glvmg nse 10 the change occurs, regardless of the tlmmg of related cash ilows Thus. rncnues and e:\penses reponed 111 thIS statement for some Hems a wlll result JJ1 cash flO\vs In future fiscal penods (e.g.. uncollected taxes and earned but unused vacatJOn leave) The gOvernment-wIde financIal statements mclude not only the CIty Itself. but also a legally separate Urban Renewal Authonty for whIch the CIty ]S financially accountable Although legally separate, the sen'lces of the Urban Renewal A uthonty are exclUSIvely for the benefit of the C It) The gOy ernmental actIvitIes of the CIt) lI1clude general government, plannmg and development, polIce, publIc \vorks. and parks and recreatJOn. Fund financial statcments. The fund finanCIal statements proVIde more detaIled lI1formatlOn about the Cn) . s most slgmficant funds ~ not the Cn) as a whole. Funds are accountmg deVIce'> that the Cn) uses to keep track of speCIfic sources of fundmg and spendll1g for partIcular purposes . ~ome funds are reqUJred b) State 13\\ and bond cOvenants . The CIt) l ouncll establIshes other funds to control and manage money for partIcular purposes (lIke the RecreatJOn Center Opcratll1g Fund) or to sho\\ that It IS properly usmg certall1 taxes and grants (lIke the ConservatIon Trust Fund) The Cn) has one type of fund Governmental funds - All of the Cn)' s haslc serVIces are lI1cluded m governmental funds, whIch focus on ( I ) ho\\ cash and other finanCIal assets that can readIly be comerted to cash fio\\ 1I1 am] out and (::>) the halances left at year-end that are aYaJlable for spendll1g. C onsequentl), the governmental funds statements proVIde a detaIled short- term Vle\\ that helps detenmne whether or not there are more or fewer finanCIal resources that can be spent 1I1 the near future to finance the Clt)' S programs. Because thIS mformalJon does not encompass the addltJOnal long-term focus of the government-wIde statements. addltJOnaJ lI1formatlon at the bottom of the governmental funds statement IS prOVIded, or on the sub<;equent page. that explams the relatIOnshIp (or dIfferences) between them Finanfial Analy~b of the Ci~' As A Whole Nct assets. As n01cJ earlIer. net assets may serve over tIme as a useful mdlcator of a go\ernment's finanCIal posltJOn ]n the case of the Cn) of Wheat RIdge. assets exceeded lIabIlItIes b) $5] .l1mU:X3 at the close of the 2003 fiscal year By far the largest portJOn of the CIt) of Wheat Rldge's net assets (75%) reflects ItS Jl1yestment JJJ capital assets (e g.. land. bUJldll1gs. machll1er), and eqUJpment) The Cny of \\'heat RIdge uses these capItal assets to proYlde sen'lces to CitIzenS, consequentl), these assets arc not 3yaIlable for future spendmg b An addltlOnal portIon of the elty of Wheat RIdge's net assets (3%) represents resources that are subJect to external restnctlons on hov. they may be used The remall1ll1g balance ofunrestncted net assets ($] 1.453,788) may he used to meet the CIty's obJigatlOns to cltlzens and credHors. At the end of the current fiscal )ear the CIt: of\Vheat Rldge lS ahle to report positIVe balance, 111 nct assets for the Cll) as a whole. as well as for ItS go\ernmental funds as a whole The same sltuatlon held true for the pnor fiscal year Cit), of Wheat Ridge Net Assets Current and other assets Capital assets Total assets Long-term liabilities outstanding Other liabilities Total liabilities Net assets. Invested in capital assets, net of related debt Restricted Unrestricted Total net assets Governmental Activities 2003 $15,736,030 $38,757,534 $54,493,564 $588,703 $2,295,978 $2,884,681 $38,757,534 $1,397,561 $11,453,788 $51,608,883 Changes in Net Assets Governmental activities. . (,o\ernmental-type Actlvltles ll1creased the CIty'S total net assets by $3.2 million. . A key element of the lI1crease 111 total net assets was the budget reductIon program adopted b) ell) C ouncd as part of the 2003 hudget. Thls program ll1c1uded the ellll1lnatlOn of] 5 75 FTE's and numerous program reductlOns or el1mll1atlons c City of Wheat Ridge Changes in Net Assets Governmental Activities 2003 Revenues Program Revenues Charges for services Operating grants and contributions Captial grants and contributions General Revenues Property taxes Sales taxes Use taxes Franchise taxes Other taxes Investment earnings Miscelleneous Total revenues $4 025,773 $1,444,608 $1,862,638 5900,683 59799,015 $2,013,143 $1,679,870 $1,308,738 $268,191 $300,943 523603,602 Expenses General Government Planning and Development Police Public Works Parks and Recreation Total expenses Increases In net assets before transfers Transfers Increases in net assets Net assets, beginning Net assets. endinq $4,460 533 5802,386 $7,301,033 $3,112,687 $4736,994 $20,413 633 53,189,969 $0 $3,189,969 $48,418,914 $51.608.883 Expenses and Program Revenues - Governmental Activities $8 000 000 $7000,000 $6,000,000 $5000,000 $4 000,000 $3 000,000 $2 000 000 $1 000000 $0 [L ~ General Government Planning and Development Police -[11- Public Works o Expenses Iii Program Revenues d Parks and Recreation Revenues by Source - Governmental Activities Use taxes 9% Franschise taxes 8% Charges for services 19% Operating grants and contributions 7% Capital grants and contributions 9% Sales taxes 44% Property taxes 4% Financial Analysis of the City's Funds The CJty of Wheat R]dge uses fund accountmg to ensure and demonstrate complIance w]th finance-related legal reqUlrements. Governmental funds. The focus of the CIty of Wheat RIdge's governmental funds]s to prov]de mformat]on on near-term mflows, outflows. and balances of spendable resources Such mformat]on]s useful m assessmg the CJty of Wheat R]dge's financmg reqUIrements In partIcular. unreserved fund balance may serve as a useful measure of a gO\ ernmcnt' s net resources a\aJlable for spendmg at the end of the fiscal year As of the end of fiscal year :2003, the CIty of Wheat R]dge's gO\ernmental funds reported combmed endmg fund balances of $13 4 mIllIOn, a decrease of $30,434 m comparIson wIth the prIor y ear ApproxImately 87~'o of thIs total amount ($11 7 m]llIon) constItutes unreserved fund balance, whIch IS a\aIlable for spendmg at the C]ty's d]scretlOn The remamder of fund balance 1S resened to md]cate that 11 ]S not a\aJlable for ne" spendmg because 11 has already been comml11ed 1) for encumbrances ($1 3 mIllIon) and 2) for state mandated emergency reserves ($490,000) e The general fund ]s the cl11ef operatlllg fund of the CIty of Wheat R]dge. At the end of fiseal vear 2003, unreserved fund balance of the genera] fund was $5.8 mi]lIon, whIle total fund balance reached $6 8 mi]lIon As a measure of the genera] fund's liqUidIty, It may be useful to compare both unreserved fund balance and total fund balance to total fund expendttures lTnresnved fund balance represents 35% of tot a] genera] fund expenditures whlle total fund balance represents 42% of that same amount. Three speCIal revenue funds were clo<;ed dunng the 2003 fiscal year to ellmlllate unnecessar: transfers between funds and to stream]1I1e the account1l1g and budget1l1g process The park acqUlSltlOn fund was closed and the fund balance of $28,649 was transferred to the open space fund The fleet replacement (eqUlpment) fund was closed and the fund balance of $267 888 was transferred to the general fund The computer fund was closed and thc fund balance of $3] 3,336 was transferred 10 the genera] fund The hotel/motel fund was created 111 ] 999 to track. revenues and expendJtures of a voter approved 500 lodger' s tax 4000 of th1S fund ]S restncted for redevelopment and public nnpro\emelw; wlthm the Clt: Such projects are conSIdered capItal Improvement proJects. therefore. the 4000 port1on of the hotel/motel fund ($4] 5.650) \vas transferred to the cap1tallmprO\ emcnt program fund 111 the 2003 fiscal year to a\Old unnecessary budget transfers The semor,teen fund was created to acccpt donatIOns and fund ra1smg revenues that are dlTectl: related to enher semor or teen programs The teen program was ellmmated 111 2003 and the teen portwn of the fund was closed The balance of the fund ($]5,267) was transferred 10 the recreatIon center fund to fund other: outh recreatIOn programs The open space and conservatIOn trust funds were estabhshed to track revenues from the Jefferson Count: upen space tax and the Colorado Lottery. respect1vely ExpendJtures 111 both funds arc restncted for the purpose of acqumng, develop1l1g and ma1l1tallllllg open space and park propertIes and recreatIOn amellltles. The Baugh House fund reported a negatlve fund balance m the amount of $48,078 at the end of the 20()3 fi,;cal year The fund was established 10 accept donat1ons and grant revenues for the purpose of restonng the h1stonc Baugh House The negatIve fund balance occurred because prOJected grant revenues were not reee]ved before the end of the fiscal year General Fund Budgctan Highlights Dl1Terences between the ongmal budget and the final amended budget were relatIvely mlllor ($73,550 lIlcrease 111 appropnatJons) and can be bnefly summanzed as follows . $] 2.500 allocated for mosqUlto control serVlCes . $5.000 allucated for ,;eed mone: to the \\'heat RIdge FoundatIon . 525.000 allocated for addttwnal legal fees . 53] 05() allocated for the acceptance of vanous grants f Ofthls mcrease $3] ,050 was to be funded from vanous grant revenue The remainmg $42,500 was to be budgeted from available fund balance Dunng the year, revenues exceeded budgetary estlmates and expendnures were less than budgetary esttmates, thus el1mmatmg the need to draw upon ex]stmg fund balance to cover the increase in appropnatlons Capital A~~et and Debt Administration Capital a~~et~. The Clt: of Wheat R]dge's m\estment m capnal assets for ItS governmental act1\'Jtles as of December 3 L 2003 amounts to $388 million (net of accumulated deprecIatIOn) Thls mvestment m capItal assets mcludes land, artwork, land Improvements. oUlld1l1gs. \'ehlcles, machmery and eqUIpment. and mfrastructure Major capnal asset C\ ents dunng the 2003 fiscal year mcluded the followmg · Phase] of the Harlan Street Improvements 111 the amount of $958.123 · 49th and KIpling Street Improvements m the amount of $208,8] 8 · Other street Impro\'ements m the amount of $995,506 · The purchase of ncw cIty vehIcles 111 the amount of $221.409 · Open spacc. par]" and \ral] constructlon and Improvements m the amount of $1.218,9]6 Cj~, of Wheat Ridge's Capital Asset~ (net of deprecIatIon) Governmental Activities 2003 Land Artwork Land improvements Buildings Vehicles Machinery and equipment Infrastructure Total Capital Assets $8,879,376 $5 000 $3,173,204 $14,236,106 $1,426479 $1,109450 $9927,919 $38,757,534 Long-term debt. Atthe end of the 2003 fiscal year. the Cny of\Vheat R]dge had total long-tcrm deot outslandlllg of $.'iR8. 703 Of thIS amount. $39.343 ]s due withm one year ThIS total dcot n:pre\l'nts compensated abscnces. whIch are expected to be liqUIdated pnmanl: mth ren:nues of the General Fund Dunng the 2003 lIscal ) car the en) of Wheat R]dge paId $ 1 7.50010 the Urban Renewal Authorn) 10 compensale the Wheat RJdge Mar]"etplace for costs mcurred m the (1 c development of the proJect. The full amount of the agreement $175,000, was due and payable wIth 10 years. At December 31, 2003. the CIty had paJd the full amount under thIs agreement. El'onomie Factors And l\ext Year's Budgets And Rates The CIty of\\'heat R]dge's sales and use taA rate remams at 2~'o. the lowest m the Deme] metro area. Due to mcreases m assessed property valuatIons. the CIt) of Wheat RIdge had to temporanly reduce Its m]lllevy to I 806 mIlls to comply WIth the TABOR revenue Ilt111tS. The C11y of Wheat R]dge's mIll lev) ]S also the lowest m the Denver metro area. In prepanng the 2004 budget. the CIty of Wheat R]dge had to take several factors mto consIderatIon, mcludmg the slowmg economy and the decrcasmg rc\cnue base The 2004 budget was adopted on the assumptIon that General Fund revenues would decrease by 2 I ~'o compared to 2003 Phase 11 of a budget reduet]on program was Implemented as part of the 2004 budget. The reductlOns 1I1cluded the ehm1l1at1on of 19 75 FTE's and numerous program reductIOns or ehmmatlons. Dunng the ::'003 fiscal year. unreserved fund balance m the General Fund mcreased to $5 8 mIllIOn. The CIt) of Wheat R]dge has appropnated $1 7 m1Ihon of thIS amount for general operatmg expenses m the 2004 fiscal year budget. The (Jeneral Fund unreserved fund halance ]S prOJected to decrease to $3 8 mIlhon by the end of 2004 The adopted 2004 fiscal year budget IS $25.3 mIlllOn, a decrcase of $46 1.573 from 2003 Itlllcludes an $18 l111]]lOn operatlllg budget. an1l1crease of $339,242 over ::'003, and a $5 5 mIll]()n caplla] budget. a decrease of $665.033 from 2003 Requests For Infonnation ThIS finanCIal report tS deSIgned to proVIde a general oven'lew of the CIty of Wheat R]dge's finances for those wIth an mterest m the C]ty'S finances Quesl10ns concemlllg an) of the lI11'ormat1On proVIded 111 thIS report or requests for addItIOnal finanCIal m1'onnatlon should be addressed to ,\dmIn]stratlve ~en'ICes DIrector CllY of Wheat RIdge 7500\V 29thA\enue \Vheat R]dge, Colorado 80033 h BASIC FINANCIAL STATEMENTS CIn OF WHEA T RIDGE. COLORADO STATEMENT OF NET ASSETS December 31. 2003 ASSETS Cash and Investments Rcceh abies Accounts Properl: 'I a:\c:- I nterg()\ nnmental Carital Assets. Net ofAccumula\ed Derreciation TOTAL '" 5SET~ LIABILITIES Accounts Pa\ ablt- Accrued Liabilities Refundable DerosilS Claims Pa:abk Deferred Revcnues ~oncurrent Liabilities Due VI' ithin One 'r car Due in More Than One 'r car TOT"'L LlABILlTllc<' NET ASSETS Imested in Carital "'ssels. "et of Related Debt Restricted for Oren Space Restricted for Police Investigation; Restricted for Richards/Hart Fstate Restricted for Consen ation "I rust Parks Restricted lor HotclMotel Police and Code Enforcement Reslricted 101' Emergencies Unrestricted TOTAL "lET "'SSET" rhe i:lccompanying notes are an integra! part of the financial statements. GOVERNMENTAL ACTIVITIES $ 12,243.967 1.778.223 924.343 789497 38.757.534 54 493.504 530.634 398.708 241.30'1 173 084 li51043 3q.343 549.300 2.884.081 38.757,534 23 1 426 ] 16.773 45,159 305.87U 208.333 490.UOO ] 1 453.788 $ 51.h08.883 Fl-'''Il Tlnl"S,PRUGRA\1~ PRIM "'R) CO\'ERNI\IE'\'l (Jovcrnmrntal i\rti\'ities General G0vernment Plannin~ and Development Police Public \\ ark, Parks and Recreation Total Guvernmental Activities CIT, OF WHEAT RIDGE. COLORADO STATEMENT OF ACTIVITlES , ear Ended December 3],2003 E:\PFNSE~ s 4 400.5D 802,]86 7.]01033 3112.687 4 736,994 C1IARGES FOR ,ERVICES PROGRAM REVENUES OPERA TING CiRANn AND (UNTRIBIITIONS s 54.239 $ 641,539 1 004,716 29902 48.362 1 402.206 2.276,917 12.500 4,025,773 $ 1 444.608 s GENERAL REVENUES Proper!) Taxes Sales 1 axes Use Taxes Franchise Taxes Olher Taxes Investmeni Earnings Miscelleneous CHANGE IN NET ASSETS TOT AL GENERAL REVENUES NET ASSETS. Beginning NET ASSETS, Ending The accompanying notes are an integral part of the financial statements. s 2u 413.633 2 CAPITA.l (;R/\1\T\ 4'-in CU'\TRIBI'TIO"i\ NET (EXPENSE) REvENt iF 4ND CHANGES 1"- NET 4 <;<;ET' lUIAL (jUVER"~1E"T 41 ACII\TlIE:S S $ 14 406.~'-I4 1 1100 K471 16.~6641~1 ,07039 11.3~~o801 1.555.5'-19 18'-119781 .n S J 8ti~.638 (13 080 6141 900 680 9709 OJ' 2.01314' J ti79.87U 1.308 7'K 268191 300 '-14; 16.2711.58' 3189 %lJ 48.418.914 S 51.608 881 Cln or WHEA T RIDGE. COLORADO BALANCE SHEET GOVERNMENTAL F\ :NDS December 31. 20m TOT ".L ". ~SET~ RECREA TION CENTER CAPITAL (jLNERAI OPERA TING PROJECT~ ~ 6,334.5X6 S 2.724.970 S 1 Y711 13() 1 J74 ItJ8 J S.203 S70.S2Y 684.343 397 757 1 X4 76<) 37.375 S ~.f12X.22q S 2.740J73 $ 2.7254)4 ASSETS Cash and Imestments Recei\ abies Accounts Properl) Taxes Intergo\'ernllll:l1tal Due From Other hinds L1A13ILITIES ,\?sID H'ND B/\LA NC I. LIABILITIES Accounts Payable Accrued Liabililies Refundable Deposits Due to Other ]- unds Claims Pay able Dekrred Re\enues Propert) Taxes Other TOTAL LlABlIlTlES FUND BALANCES Resened for Encumbranccs Resen'ed 101' l::,mergt:ncie~ Unrescn'cd. reported in General Fund Special Re\enue Funds Capital Projects Fund T01'\L FUND BALANCL~ TOT ".L L1ABlITIIES "'NO FUND BALANCJ:~ '\mounts reported 101' gO\Trnmenta] acti\'itie~ in the statement oj l1et assets arc different hecausc. (apitul as~eb used in gO\ ernmcntal activities are not 1inancial resources and therefore, arc not reported in the funds. Long-term liabilities L'onsisting of compensated absences arc not due and payable in the current period and thcrc10rc are not repo]1ed in the funds. l\et Assets of Gl1\'ernmentaJ Aeti\ities Thl accompal1) ing noles are an inlegraJ part oflhe financial statements. OTHER TOTAL GOVERNMENT "'I GOVERNMENT Al FlI"D~ FUNDS S U] 4.:'7" S 1:2.243967 ]X.3n 1 77X.123 240000 924.343 206.~71 ?X9 4~7 37375 S ] .(179.56'1 S ]5773405 S 74 X94 <, 530.634 ]2.953 398.708 241.309 37.375 37.375 173 6X4 2400no 924.343 27.300 365.222 2.333.353 75.5XO 1.294737 491J (100 5 773.262 U3X.767 3.927.121 1.954 832 1.314.347 13440052 S 1.679.569 ,X.757.534 15XX. 7(3) S 51 hOX.X83 cln or WHEA T RIDGE. COLORADO ST A TEMENl OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES (jOVERNMENTAL FUNDS \ ear Fnded December 31 2003 RECREA TI01\ CENTER C"'PITAl CiF1'\ERAL (JPERATINC, PROJECTS RnF1\1 ES - 13:\.e~ ~ l).5X3.5Y5 S S 4 Y24.55~ License, and Permits 819.24 I Intcrgo\ l'rnmcntal I 732.455 12.500 307.0~lJ ('harges for '-'en'iets 720.77X 1.847.X82 Fines and rorfeiture~, 780 72b lntcreSl 1 J6.274 93.352 2747X !\ 1 iSl~L'l hmcous 234.275 3.69J 2.90b 101 III REVFJ\'lllcS 13 9X7.344 1,957425 5261 YXI F,XPC1\DITllRES Current (H?I1t'ra] (Jovernment 4.276.145 Planning and Dc\clopmem 573.849 Polin' 6445.584 Punli, V\orb 2.406.027 Purks and Recreation 2.583.00lJ 2.007 42\ C apiw! (Jutlm 3 062.657 TOIAL EXPE'![)ITURI-" 16.344.614 2.007 421 3062.657 - I-'\CF<;S 01 RF\'ENUES 0\. LR (U]'\DER 1 EXPE]\!DITURlcS (2.357,2701 149.9961 2.199.324 UTHlcR Fll'-A1\UNC, SOl q<CES IlSES 1 'I ranskrs In 3.658,224 15,267 415.bSO '1 ranslers Out (2.677 UOO) IOT"'I OTHER FI'\JANCI'!Li 'SOl 'RCES (U,lcS I 3.658.224 15.267 (2.261.350 I 1\[1 CHANGE IN FUJ\'D BALA"CF, 1.300954 1347291 ( h2,(1261 Fl 'NO BALANCT,. Beginning 5,540.372 2.723.334 2.657,800 Fl'''\) BALANCIcS. Ending S 6.X41.32h S 2.h88.b05 S 2.595 774 The acc()J11r;mying note,.., are an integrd] part of the financial statements. 4 OTHrF (,OVERNMI. "\T <\1 FlIND~ 'l(H<\1 (,OVER'\~1E!\T <\1 FIINm, $ 660.215 $ 15 16X.42X X19.241 1.555 .~l)l) '.6117 '9, 35 X 19 2.6U4 47Y 3R.33() X19.115h 3] .1187 26X.] 9] 75 lJ5Y 3 ]6.X31 2.397 1169 n.603.X19 71102' 4.346.] 711 244 Oh2 X] 79] 1 5X3.388 7 028.972 2.400.021 X3 7.579 5 42XJ)()9 4X4.5117 3.547 ]04 2.2] 9.56] 23.034.253 177.5118 1311.434) 52X.M9 4.0]77911 I] 9411 7901 (46]77YII) (] 4 ]2.1411 (1.234.633 ) 1311.434 ) 2.54X l)XO ]34704Xo $ 1.3]4.34" $ 13440115::' ClTy OF WHEAT RIDGE. COLORADO RECONCILlA TION OF THE STATEMENT OF REVENUES. EXPEND!Tl 'RES A1"D CIIA'\IGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES year Ended December 31 2003 ".mOUnlS reported lor gowrnmental acti\'ities in the statemcnt of acti\'ities are different because' 1\et change in lund halances. gO\ crnmental funds Capital outlays to purchase or build eapilal assets are reported in guwrnmental funds as exrenditurt.:'s. l-ImH'\Tr for !:!('I\ ernmcnta] activities those cnsts arc shown in the statement (11' net assets i:md allocated over thl'ir e:-;timated useful live:-; a~ annual depreciation expense in the Slalement 01 acti\'ities. This is lile amount b) which capital outla) $4,571.954 exceeded depreciation 1$1421 7n, and loss on disposal 1$2171. Repa) ments of long-term debt are expenditures in the go\'ernmenlal funds. but tbe) reduce long-term liabilities in the statement of net assets and du not affecl the statement ofacti\ities. This amount includes decreases in compensated absences ($52.964) and pa\ ments of de\eloper agreements 1$17.5001 Change in "'!\ct i\ssets of GOHTnmcntal A.cli\'itie~ The iJlTOmran\ing !1l)lcS <:Ire an integral riJrl of the financial statements. $ (304341 3 149.939 7lJ 464 $ 3 n~Y 969 CITY OF WHEA T RIDGE. COLORADO BUDGETARY COMPARISON STATEMENT GENERAL FUND Year Ended December 3],2003 VARlANCF WITH FINAl ORIGINAL FINAl Positive HUDGET Bl'OGET "CTUAL (]\.eptivel REVE1'WE5> cl axes ~ 9718.524 S 971R.524 S 9.5R3YJ5 S (]34 Y291 Licen~es and Pl:rlllit~ 651.967 651.967 R19,24J 167.274 Intergovernmental I R03.8R] 1.834 93 I I 732.455 (102.4761 Charges j(lr ~ervices 667.676 667.676 720.77R 53 IOc ,. ines and F orkitures 751.000 75 I 000 780.726 2972() Interest ]00.000 100.000 116.274 16.274 Miscellaneous 152.800 152.800 234.275 81 475 TOT AL REVENllES 13.R45.848 13.876.89R 13 987.344 110446 E:\PENDITliRES .\ND ENCUv1BRANCE~ ( urrent (leneral Cio\'crnment 4.5] 6,274 4.568.774 4425689 143 ORS Planning and De, elormcm 602.936 602.936 573.849 290R7 Police 6.652.891 6.673.941 64]5.282 258.659 Public \Vorks 2.846.71 R 2.R46.718 2.471.027 375.691 Parks and Recreation 3074182 3.074 182 2,703. I 34 371.048 ------- 1 O'J AL EXPENDITURE~ "NO ENCl'MBRANCES 17.693.001 17766.55 I 16.588.981 I 104020 E).,CTSS OF REVENUES OVER (LINDER I L\I'ENDITI ;RI-~ A '\iD E"JC\'\1BRANCES 13.8471531 13.R89.(53) 12.6IJ 1.(37) 1.245.516 OTI-IER f1NANCJNC, ~OURCE5> 1 ransfers In 3 077.00(J 3 077 000 3.658.224 581.224 ----.-- ....--.-- NET CHANGE Il\: FUND BALANCE. Budgetar: Basis S 1]70.1531 $ 18l2,65lJ 1.056,587 $ J,826.7i1[l -------- ADH1<;T\1ENn TO liAAP BASI~ Encumbrances Prior 't ear 1333.6971 Currem ) ear 578.IJ64 TOTAL "DJUSTMENT~ 244.367 NET CHA'\iG[ IN Fl'ND HALANCL. GAAP Basis $ - 1.30(J,954 ---- The accompan\lng notes are an integral pan of the financial statements. 6 CITY OF WHEAT RIDGE. COLORADU BUDGETARY COMPARISON STATEMENT RECREA TION CENTER OPERATING \ ear Ended December 3 I 2003 VARlANCI WITH FINAL OR]GINAL FINAL Positive TlI'DGET 81IDGET ACTUAl (N::_r?ti~~L ------ REVEl':IIES Intergovernmental $ $ $ 12.500 $ 12.500 Charges for 'Services 1.899.223 1.899.223 1.R4 7 .882 151.3411 Interest 40.000 40.000 93.352 53.35~ Miscellaneous 3691 3.69] TOT AI. REVENIIES I 939.223 1.939.223 1.957425 ] 8.202 EXPENDITIIIZl.S Parks and Recreation 2.] 69.893 2.195.942 2.007.572 ] 88.3 70 TOTAL EXPENDlTLRES AND ECUMBRANCES 2.] 69.893 2.]95'142 2.007.572 188.3 70 EXCESS UF REVENUES OVER (UNDER) EXPE"iD]TlIRES A"iD ENCl''\1BRAl\CES 1 230.6701 12567]91 (50 ]471 206.572 OTHER F]NANC]NG <;01 RCES 1 ransfer ]n 15.267 ] 5.267 NET CHANGE ]N FlIND BALANCE. Budgetar, Basis $ (230.670) $ 1256.7]9.1 134.880) $ 221.83l) -------- ------ AD.Il 'STMEJ\:T<;! () GAAP BA <;]<; Encumhmnces Prior \ ear Current Y car 15 ] TOTAL ADJUSTMENT<; ] 51 NET CHANGE]N FlIND BAL!\NCE. GAAP Basis S J }4c n9) Tht' '-l.l'COlllpljll\ in~ nntes are an integral part of the financial statements. 7 NOTE 1: CITY OF WHEAT RIDGE, COLORADO NOTES TO FINANC1AL STATEMENTS December 31,2003 SUMMARY OF SlGN1FlCANT ACCOUNTlNG POLlClES The City of Wheat Ridge, Colorado was incorporated in August. 1969. and became a home rule cIty 111 1976 as defined by Colorado RevIsed Statutes. The CIty IS governed by a Mayor and eight- member Council elected by the residents. The accountll1g policies of the CIty of Wheat Ridge. Colorado (the CIty) conform to generally accepted accountlllg pnnciples as applicable to governments The followlllg is a summary of the more siglllficant policies' Reporting Entity The finanCial reportlllg entity consIsts of the CIty and orgalllzatlons for which the CIty is finanCIally accountable All funds. organizations. IIlstitutlOns. agencIes, departments and offices that are not legally separate are part of the City, 1n addition. any legally separate organizations for which the City is financially accountable are considered part of the reporting entIty FlIlancial accountabilIty exists If the City appolllts a voting majority of the orgalllzatlon's governlllg board and IS able to Impose its will on the orgalllzatlOn. or if the orgalllzatlon proVIded benefits to, or Imposes financial burdens on the City Based on the applicatIon of the above critena, the City includes the following blended component unit in its reportlllg entIty' Wheal Ridge Urban Renewal AUlhurily - The City IIlcludes the Wheat Ridge Urban Renewal Authority (the Authonty) Within its reportll1g entity The Authonty' Board members are appointed by the Mayor and Council The Authonty is blended mto the Clty'.S financial statements because it prOVIdes servIces exclUSIvely to the City, and agreements between the entities restrict the Authonty s activities to those approved by the City CouncIl The Authority, was created to redevelop or rehabilItate certain blIghted areas of the CIty Government-wide and Fund Financial Statements The government-wide financial statements (I e., the statement of net assets and the statement of actIVIties) report mformation on all activitIes of the City, and Its component unit. For the most part. the effect of II1terfund actIVity has been removed from these statements. Govermnenlal aClivilies are normally are supported by taxes and intergovernmental revenues. The statement of activities demonstrates the degree to which the direct expenses of the gIven function or segment are offset by program revenues. Direcl expenses are those that are clearly identIfiable with a specific functIOn or segment. Program revenues mclude ]) charges to customers 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 panicular function ur segment. Taxes and other Items not properly mcluded among program revenues are reported IIlstead as general revenues. Internally dedicated resources are reported as general revenues rather than as program revenues. Separate financial statements are provided for governmental funds Major mdividual funds are reponed as separate columns 111 the fund financial statements. 8 "IOTE 1: CITY OF WHEAT RlDGE. COLORADO NOTES TO FINANC1AL STATEMENTS December 31. 2003 SUMMARY OF SlGN1F1CANT ACCOflNTlNG POLlClES (Continued) Mea~U1'cment focus, Basis of Accounting, and financial Statement Presentation The government-wide financIal statement~ are reported uSlllg the econumic resuurce' mea.\uremenl fucus and the accrual hasis of accounting Revenue~ are recorded when earned and expenses are recL,rded when the liabl IIt:- IS Illcurred. regardless of the t 1111 IIlg of related cash flows Property taxes are recognized as re\'enues III the year for whIch they are levied. Grants and s]mIlar ]tems are recognized as re\'('nue as soon as all elIgibilIt)' requirements lI11posed by the proVIder have been met Go\ernmental fund finanCIal statements are reported usmg the current financial resources meusuremel1ljucus and the mudified accrual hasis of accaul1ling Revenues are recognIzed as soon as the:- arc hoth measurable and available Revenues are conSidered to be availahle when they are c011ected \\lthin the current period or soon enough thereafter to pay lIabIlities of thc current period. For thiS purpose. the CIty considers revenues to be available If they are collected wlthm 60 days of the end of the current fiscal perIod Property taxes. spectfic ownershIp taxes. grants. and interest assoctated with the current fiscal period are all conSidered to be susceptible to accrual and so have been recognized as revenues of the currcnt fiscal perIod All other rnenue Items are considered to be measurable and avaIlable only when cash IS receIved by the Cay Expenditures gcnerally are recorded when a lIabIlity IS mcurred. as under accrual accountlllg. Howe\ er. dcbt sen Ice expendItures. as well as expendItures related to compensated absences. are recorded only when payment IS duc PrIvate-sector standards of accountmg and financial reportlllg Issued prior to December 1. 1989. generally are followed III the government-wide financial statements to the extent that those standards do not confltct WIth or contradict gUidance of the Governmental Accountlllg Standards Board Governments also have the lipllOn of fol10wlllg subsequent prIvate-sector gUIdance for their hus]ness-type actlvittes subJect to thiS same IImltatlon The CIty has elected not to follow subsequent prIvate-sector gUidance When both restrIcted and unrestricted resonrces are avaIlable for use. It IS the Clty'"S practIce to use restrIcted resources first. then unrestrIcted resources as they are needed The C ]ty reports the followlI1g major go\ernmentaJ funds The General Fund IS the general opcrattng fund of the City It IS used to account for all finanCIal resources except those required to be accounted for III another fund The R"creuriu/J ('enler Operuring Fund accounts for recreation center revenue and program expenditures. The ( apilal Pru/eLl.I Fund]s used to account for financIal resources to be used for the acquIsItion or lonstruCltlln of major capital assets l) NOTE 1 CITY OF WHEAT RIDGE. COLORADO NOTES TO FINANCIAL STATEMENTS December 31.2003 SUMMARY OF SlGiV1F1CANT ACCOUNTlNG POLlClES (Contmued) Assets. Liahilities and 1\l't Assets Cash and JnveSlmel11s - lash eqlllvalents It1C lude It1vestments with onglllal matUrItIes of three months or less. Inveqments are recorded at fall' value Recrimhles - Accnunts recel\able consists prImarIly of sales and use tax. lodglllg tax and other mtscellaneous receivables Jl1Ierfund Receivables and Pavables - DUrIng the course of operations. numerous transactIOns occur bet\\een mdl\'idual funds Thc resultlt1g rcceivables and payabJes are classIfied III the fund financial statements as duejrom uther junds and due to uther funds because they are short-term It1 nature Capifal Assets - CapItal assets. which It1clude property eqlllpment and lIlfrastructure. reported It1 the gOH~rnment-wtde financtal statements CapItal assets are defined by the City as assets wtth an illltlaL tndlvldual cost of more than $5 000 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 a] estimated faIr market value at the date of donation The City has recl'rded current year infrastructure addItIons but lIlfrastructure assets purchased 01 donated tn prevIous years WIll be capItalized in the future. as allowed by generally accepted accountlt1g prmclples The costs ofnonnalmalntenance and repairs that do not add to the value of the asset or materIally extend assets lIves are not capitalIzed CapItal assets of the City are deprectated uSll1g the straight 11Ile method over the fol1owmg esttmated useful lIves Land ]mprovements BuIldings EqUipment lnfrastructure 25 years JO-40 years 3 -40 years 50 years CUli1pensLlfed A bsence.\ Employees of the City are allowed to accumulate unused vacation and Sick time up to a ma:\tmum based on years of service Upon terIlllnation of employment from the City. an employee wIll be compem;ated for all accrued vacation time at their current pay rate Employees Imed prIor to February] 2. ] 990 \Vtl\ be compensated for accrued slCk l1me exceedl11g 60 days at one-half their current rate of pay i\ccumulated unpaid \ acallOn and slCk pay IS accrued when earned ]n the governmental funds. amounts e:\pected to be paId from avaIlable resources is recorded as a lIabilIty, of the It1dl\ldual fund A long-tcrll1llabIlJt\ has been recorded 111 the government-\\'Ide finanCial statements forthe ,JCcrued compensated absences 10 NOTE 1: NOTE 2: Cln OF WHEAT RlDGE. COLORADO NOTES TO FINANC1AL STATEMENTS December 31 2003 SUMMARY OF SlGN1FlCANT ACCOUNT1NG POLlC1ES (Contll1ued) Assets, Liabilities and Net Assets (Cont1l1ued) Deterred Re1'enues - Deferred revenues II1clude grant funds that have been collected but the corresponding expenditures have not been 1I1curred Property taxes earned but leVied for a subsequent perIod are also recorded as deferred re"enues 111 the financial statements. Lonl!-Term Dehr-- lnthe government-wide financIal statements. long-term debt and other long- term oblIgatIons are reported as liablllttes. ]n the fund financtal statements, governmental fund types recognize long-term lIablllttes only when payment tS due Payments of long-term debt are reported as current expendItures /'vel A.\Sl'ls. Fund Balullce - 1n the government-wide finanCIal statements. net assets are restrIcted when constra1l1ts placed on the net assets are nternally Imposed In the fund financial statements. gmernmental funds report reservations of fund balance for amounts that are not avallable for approprIatIon or are legally restrIcted by outSIde partIes for use for a specific purpose Property Taxes Property taxes are leVied on November 1 and attach as an enforceable lIen on property on January ] Taxes are pa:-able 111 full on Apnl30 or 111 two 1I1stallments on February 28 and June 15 Tht, County Treasurer's office collects property taxes and remits to the City on a monthly baSIS S1I1ce property tax revenues are collected 111 arrears dUrIng the succeedlllg year. a receivable and correspond1l1g deferred revenue are recorded at December 31 As the tax IS collected 111 the succeed1l1g year the deferred revenue IS recognized as revenue and the receJ'l'able IS reduced Contraband Forfeitul'es The Colorado Contraband ForfeIture Act allows la,\, enforcement agenctes to retall1 proceeds from the seIzure of contraband These transacttons are recorded 111 the PolIce Investigation SpeCIal Revenue Fund STEIf ARDSH1P. COMPLlANCE AND A CCOUNTAB1LlTY Budgets The Clt' follows these procedures 111 establIsh1l1g thc budgetary data reflected In the financIal statements In September the C ny t\dmll1lstratton submIts to the City CouncIl a proposed operattng budget for the fiscal year commenc1l1g the follo\\lng January ] The operatll1g budget 1I1cludes proposed expendItures and the means offinancll1g them 11 NOTE 2: "on: 3: C1TY OF WHEAT RlDGE. COLORADO NOTES TO FINANC1AL STATEMENTS December 31. 2003 STEW4RDSH1P, COMPLlANCE AND ACCOUNTAB1LlTY Budgets (Contll1ued) PublIc hearIngs are conducted to obtam taxpayer comments PrIor to December 31. the budget IS legally enacted through passage of an ordinance Any budget reVISIonS that alter the total expenditures of any fund must be approved by the City Council Budgets are legally adopted for all funds of the City Budgets for the governmental funds are adopted on a non-GAAP hasls usmg the encumbrance method. Budgeted amounts m the financial statements are as origmall) adopted or as amended by the City CouncIl All approprIatIons lapse at year end Colorado governments may not legally exceed hudgeted approprIatIons by fund Ll'gal Compliance DUrIng the year ended December 31 2003. the Clly clmed the Park AcqUISItion. Eqlllpment and Computer Funds. and transferred the remamlllg balances to other funds. In additIon. the Sel1lor/T een Center and Hotel/Motel r unds transferred amounts to other funds for reimbursement of expendnures. These transfers were not hudgeted by the City. whICh may be a violation of State statutes Accountability As of December 31.2003. the Baugh House Fund had a negatIve fund balance of $48.078 The negatl\'e balance resulted because grant expenditures were made dUrIng the year but the correspondmg revenues were not availahle at year end C4SH AND ]]VI'ESTMENTS A sUlllman of cash and mvestments as of December 31. 2003 follows Peny Cash $ 2.718 Cash Deposits 9.561.477 Inves!lllenb 2.679.772 lotal S 12,243.967 12 ~OTE 3: CITY OF WHEAT RlDGE, COLORADO NOTES TO FINANC1AL STATEMENTS December 31, 2003 CASH AND INVESTMENTS (Contlllued) Cash Deposits The Colorado PublIc Deposit ProtectIOn Act (PDPA) reqUIres that all unIts oflocal government deposIt cash III elIgible public depositorIes ElIgibilIty IS determined by state regulatIOns. Amounts on deposit III excess of federal IIlsurance levels must be collateralIzed by eligible collateral as determined by the PDP A The financIal instItution is allowed to create a single collateral pool for all public funds held. The pool is to be mall1tained by another IIlstitution. or held III trust for all the unlllsured publIc deposIts as a group The market value of the collateral must be at least equal to ] 0::''10 of the unlllsured depOSits. Deposits are categorized to gIve an indication of risk assumed by the City at the end of the year Caregon 11l1cludes depOSits that arc 1I1surcd. Calegun 2 1I1cludes collateralIzed deposits with securities held by the pledging 1I1stItution's trust department or agent III the City's name. and CaregUl'.\ 3 1I1cludes uncollateralIzed. ul1lnsured deposits At December 31. ::'003, the Clty's cash deposits had a carrYlIlg amount of $9.561,477, and a correspondlllg bank balance as follows. Insured (Category]) Deposits CollateralIzed III SlI1gle Institution Pools (Category 2) $ 700.000 9.438.865 Total Cash Deposits $ 10.138,865 lnvestments Colorado statutes specIfy whIch instruments units oflocal government may invest. which IIlclude' ObltgatlOns of the United States and certain U.S Agency seCUrIties Certain 1I1ternatlOnal agency securities General obligation and revenue bonds ofU.S local government entities Bankers' acceptances of certain banks CommerCIal paper Local government IIlvestment pools WrItten repurchase agreements collateralized by certam authOrIzed securitIes Certalll money market funds Guaranteed IIlvestment contracts The CIty's II1vestments are categorIzed belo\\ to gIve an mdlcatlon of the level of security assumed at year end. CUlegOlY I includes 1Ilvestments that are II1sured or registered or for which the seCUritIes arc held by the City or its agent in the City's name. Calegor)' 2 mcludes uninsured and unregIstered mvestments for which the securities are held by the counterparty's trust department or agent III the Clty's name. and Caregor) 3 includes unmsured and unregistered Investments for which the securities are held by the counterpart) . s trust department or by its agent. but not 111 the City's name 13 NOTE 3: NOTE 4: ClTY OF WHEAT RlDGE. COLORADO NOTES TO FINANC1AL STATEMENTS December 31. 2003 CASH AND lNVESTMENTS (Continued) Investments (Contll1ued) Fair Value 1I S Agency SecuritIes (Category]) $ 552.563 At December 31 2003 the Ctty had lI1\ested $146.047 and $668.348. respectively III the Colorado GO\ ernment Ltquld Asset Trust (Colotrust). and the Colorado Surplus Asset Fund Trust (CSAFE). 111\e<;(ment vehIcles establIshed for local government entities III Colorado to pool surplus funds The 'I rusts are regIstered WIth the Colorado SecurIties CommiSSIOner as requned by "tate statute The Trusts operate snnrlarly to a money market fund and each share IS equal 111 value to $1 00 ]nvestments of the Trusts II1clude 1I.S Treasury bills. notes and note strIps. and repurchase agreements collateralized by U.S Treasury seCUritIes A deSignated custodial bank provtdes safekeepll1g and depOSitory services to the Trusts 111 connectIon With the dIrect II1vestment and Withdrawal functions of the Trusts SubstantIally all seCUrIties owned by the Trusts are held by the Federal Reserve Bank 111 the account mall1tallled for the custodial bank. The custodtan's II1ternal records Identify the Ill\estments owned by the Trusts ]n addltton. the CIty had Ill\ested $1.312.8]4 III money market accounts. These Investments are not categOrIzed sll1ce the underlying seCUrities cannot be determll1ed lNTERFU,'VD BAL4,'VCES AND TRANSFERS Due from Other Funds Due to Other Funds Amount General Fund General Fund Baugh House Fund Sel11or/T een Center Fund $ 3506 ] 2.314 Total $ 37 .375 The General Fund has temporarIly covered eash shortages of the Baugh House Fund and paid cel1alll e:\pendttures on behalf of the Senlor/Teen Center Fund Transfers ]n Transfers Out Amount CapItal Prolecb Hotel/Motel $ 4] 5650 General EqUipment 267888 General Computer 313.336 (ieneral Open Space 700000 General Hotel/Motel 200 (JO(J General CapItal Projects 2.] 77 (JOO Open Space Park AcqUISItion 2864'J ]4 CITY OF \VHEA T RlDGE. COLORADO NOTES TO F1NANC1AL STATEMENTS December 31. 2003 NOTE 4: ]]VTERFUND BALA/VCES AND TRANSFERS (Contmued) Transfers In Transfers Out Equipment Computer Recreation Center CapItal ProJects CapItal Projects Senior/Teen Center Total Amount 400000 ]00000 ] 5.267 $ 4.617,790 The Hotel/Motel F uno ]s required to transfer a pOI1]o.n oflodgmg tax to. the CapItal Projects Fund A transfer was made fnlll1the SeniorlT ecn ( enter Fund to the Recreation Center Operating Fund to. move the Teen Center assets During the year. the City closed the Equipment and Computer Funds WIth a final transfer to the General hmd. and the Park AcqUISItIon Fund with a transfer w the Open Space Fund Transfers from the Open Space Fund. Hotel/Motel Fund and CapItal I'rolects Fund to the General Fund were made to rellnburse costs the General Fund II1curred on behalf of these funds NOTE 5: CAPlTAL ASSETS CapItal asset activIty for the year ended December 31. 2003 IS summarIzed below Balancc~ 1231 'II: Gm rrnlllrntal .\cti\'itie~ ( upital '\~sets_ l\Jot Being DepreCiated Land '\r1\\ork '1 "tal Capital Assets. Not Reinf Depreciated s 8.87'1.37h $ 5.01111 8.884.376 Capital ",ssets. Reing Deprecinted land Impro\l'ments Ruildll1g, \ch]cles \1achiner, and ]cquipment In1rastructur( 2.674 ()2~ ] 8.298.119'1 3 .2U8. "23 2.293 Y3~ 11.1188.98 ] Tota] Capital A~~ets. Rl'lIlf:' DCrrl'l'iatcd 3'7.563.:5X Les::, Accumulated Depreciation L:md Impn)\CmCn15 Buildings \ eh]clc~ Machiner: and Equipment lnfra5tructuft.: 644 '770 3 h88 83- 163:4()~ 1 192.85(1 3.h7h.h] 4 Tota] Accumulated Depreciation ] 11.84(1.53'1 Total Capital Assets RClOg DeprecIated. Net 26.723.2]9 (J(~\ ernmenta] l apIta] Asset~:. "'Jet s 35.60i .595 $ 15 AdditiOn> Deletions s 1.312.918 94 922 204.854 179.356 2.779.904 I] 2.525 50663 4.571.954 163.] 88 Ih8.966 4h8.07S 3494 I 3 170.989 264.352 ] 12.308 511 h63 1.421.798 162.971 3.150. I 56 217 3.150.156 S 21i $ Balancc~ 12/3 ],i03 $ 8.8:9.3'6 5.11011 8.884.376 3986.9411 18.393 021 3.30 I 052 2.422.h2n 13.868.88' 4 I .972.524 813 ""73h 4 ]5h.']I' 1 8'4.5:0 1.313 ]7(, 3.9411.'166 12.099.366 29.873.] 58 38.i5:.534 NOTE 5: NOTE 6: NOTE 7: ClTY OF \VHEA T RlDGE. COLORADO NOTES TO FINANCIAL STATEMENTS December 31. 2003 CAPlTAL ASSETS (Contll1ued) I-or the year ended Deccmber 3] 2003. the City removed duplicate assets from Its capItal asset> records i\s a result. capital asset halances at Deeemher 3] 2002 were restated by $973.] 05 DepreCtallOn eApense was charged to programs of the City' as follows Governmental ActivitIes General GO\ernment Plannl11g and Development PolIcc PublIc \\ orks Parks and Recreatton $ ] ] 8.547 1,975 ]69.766 466.682 664.828 Total 51 1.421,798 LONG-JERM DEBT FollOWing ts a summary of long-term debt transactions of the CIty for the year ended December 31. 2003 Balances Balances Due Vv ithin 12/31/02 Additions Pavments 12/31/03 One \ ear Gonrnmcntal Activitics Compensated Absences S 64] 667 } S 52.964 S 588 703 S 39.343 Developer Agreement 17.500 17.500 lotal 5' 659.167 S 5' 70.464 $ 588.703 $ 39.343 Compensated Absences Compensated absences are eApected to be lIqUidated prImarIly With revenues of the General Fund Develuper Agreement On January ] 3. ] 997 the Urban Rcnewal AuthOrIty agreed to compensate the Wheat Ridge Marketplace for certal11losts JIlcurred 111 the development of the project. The full amount of the agreement. S 175 000. was dUl and payable wtthJll ] 0 years. At December 31. 2003. the City had paId the full amount under thIS agreement R1SK MA/\>~GEMENT The City IS exposed to \ 3fiOUS rIsks of loss related to torts. theft of. damage to. and destruction of assets errors and omissions InJUrIes to employees. and natural dIsasters. The City has agreed to self-l11sure claims for gencralllabIlny automohIle lIabIlity. la"" enforcement lIabilIty. and publIc offiCials error and omissions lIahIlny to a maXllllum of $] 50000 per occurrencc 16 NOTE 7: !'IOTE8: ClTY OF WHEAT RIDGE. COLORADO NOTES TO FINANC1AL STATEMENTS December 31. 2003 R1SK MAN4GEMENT(Contmuedj Changes Itl clanns payable were as follows llalms Paval1le. Januaf\ 1 . . Incurred but not Reported llanns and Adjustments ClaIms Patd 200:; 2002 S, 192.793 S, 171.273 77.865 142.734 (96.974 ) (12U14) S 173.684 S 192.793 Claims Pavable. December 3] For excess liabIlity property and workers compensation clatms. the CIty IS Itlvolved with the Colorado Intergovernmental Risk SharIng. i\gency (ClRSA). a separate and Independent governmental and legal entIty formed by Itltergovernmcntal agreement by member munlClpalttles pursuant to the prOVISIon of24-l 0-1155. Colorado ReVised -;tatutes (1982 Replacement Volume) and Colorado Constitution. i\rtIele XIV. Sect ton 18(2) The purposes of CIRSA are to prO\lde members defined Itablltty. property. and workers compensation coverages and to assIst members to prevent and rcduce losses and InjUrIes to munIcIpal property and to persons or property whIch tntght result Itl clalllls bemg made agaltlsl members of CIRSA theIr employees and officers It IS the Itltenl of the members ofCIRSA to create an entIty 111 perpetutty which wIll admltltster and use funds contributed by the members to defend and Itldemnlfy Itl accordance WIth the bylaws. any member ofllRSA aga1l1st stated ItabIllty ofloss. to the Inntt of the financtal resources ofClRSA It IS also the II1tent of the meml1ers to have CIRSA provtde cont1l1ull1g stabiltty and avaIlabIlity of needed coverages at reasonable costs All income and assets of ClRSA shall be at all tImes dedICated to the exclusive l1enefit of ItS members. CIRSA IS a separale legal entIty and the CIty does not approve budgets nor does it have abIlity to Significantly affect the operations of the unit. The C Ily carrIes commerclalll1surance for other risks ofloss. 1I1C ludltlg employee health Itlsurance RETIREMENT COMM1TME1VTS Police P~nsion Plan The lIly It,ntrIbutes to a s1I1gle-employer defined contrIbution money purchase penston plan on l1ehalf of sworn pol Ice officers. Employees are reqtllred to contrIbute 10% ofthetr compensation In the Plan. ann the Cny contrIl1utes ] O~'O The contribution requlrcments of Plan members and the CIty arc established and may l1e amended by the C Ity CouncIl Employees may also make voluntary contributIons to the Plan but may not contribute 111 excess of] 5';,0 of their compensatIon to the Plan DUrIng thc year ended December 3].2003. the City and cmployees made contributions to the Plan of $339.42, and $409.332. respectIvely The CIty made all reqUIred contributions to the Plan 17 1\IOTE8: 1\IOTE 9: ClTY OF WHEAT RIDGE, COLORADO NOTES TO F1NANCIAL STATEMENTS December 3].2003 RET1REMENT COMJI11TMENTS (Contlllued) Police Pension Plan (Cont1l1ued) Employees become vested 111 City contributIons to the Plan at 40% after 4 years of service. 45% after 5 years. 50'% after 6 years. and an additional 10% each ycar thereafter All of the Plan IIlvestments at December 31. 2003. of $] 1.353 ]04 are managed by Charles Schwab Department Head Pension Plan City department heads partIcipate III a multiple-employer defined contribution penslOll plan upon employment with the CIty Department heads are reqUIred to contribute 4% of their compensatIOn to the Plan and the City contributes 5%. The contribution requIrements of Plan members and the CIty are establIshed and may be amended by the City CouncIl During the year ended December 31. 2003. the CIty and employees made contributIons to the Plan of $29.465 and $23,572. rcspectively The City, made all required contributions to the Plan Employees becomc vested III all contributIOns to the Plan immediately All of the Plan 1I1\estments are managed by the lnternatlonal CIty Managers' AssocIation (lCMA). Employee Pension Plan The CIty contributes to a multiple-employer defined contribution pension plan on behalf of all employees. except polIce officers and department heads. after one year of employment. Employees are required to contribute 4% of theIr compensation to the Plan. and the City contributes 4%. The contribution reqUIrements of Plan members and the City are established and may be amended by the City Council DUrIng the year ended December 31, 2003. the City and employees made contributions to the Plan of $208.756 The CIty made all reqUIred contributions to the Plan. Employees become vested III City' contributions to the Plan at 20% annually All of the Plan lI1vcstments are managed by The Colorado County OffiCials and Employees RetIrement ASSOCIatIOn (CCOERA). COMM1TJI1ENTS AND CONT1NGENClES Tabor Amendment Colorado voters passed an amendment to the State ConstitutIon. Article X. SectIOn 20. whIch has severallImllatlons. tncIud1l1g revenue ralslI1g. spendlllg abilities. and other specific requirements of state and local governmcnts. The Amendment requires. With certall1 exceptions. advance voter approval for any new tax. tax rate 1I1crease. mill levy above that for the prIor year. extensIOn of an expIrIng tax. or tax policy change dIrectly causing a net tax revenue gain to the City, ] 8 NOTE 9' NOTE 10: CITy OF WHEAT RIDGE. COLORADO NOTES TO F1NANClAL STATEMENTS December 31. 2003 C0111M1TMENTS AND CONTlNGENC1ES (Contlllued) Tabor Am~ndm~nt (Cunttnued) Revenue IJ1 ~Acess of the fiscal year spendlJ1g lImIt must he refunded 111 the next fiscal year unless voters approve retentIon of such revenue The Clty'S management helIeves it IS in complIance WIth the prO\IS]OnS of the Amendment However. the Amendment IS complex and subject to tnterpretat]on Man) of Its provtslons may require Judlclallllterpretatlon The ellv has establIshed an emergency reserH representll1g 30'0 of qualifYlIlg expenditures. as requIred by the Amendment At December 3] 2003. the emergency reserve of $490.000 \\as recorded as a reservation of fund balance 111 the General Fund Litigation The C Ily IS IIl\0hed 111 \ arrous laWSUIts The outcome ofthts lItigation cannot be determlJ1ed at thiS lIme CHANGE l]V ACCOUNTlNG PR1NClPLE For the year ended December 3]. 2003 the City' adopted the standards of Governmental Accountll1g Standards Board (GASB) Statement No 34. Basic Financial Slalemel1l.\-und A1anugt'me17l \ Dlsc1IssIOn a11dAnulvsis-furc~lult' and Local Covernmenls The Statement reqUtres the City to record certain finanetalll1forma1 ]on on a full accrual baSIS. as displayed IJ1 the statement of net assets and the statement ofactl\'It]es In addItion the City has revised or added certalllnote disclosures IJ1 aCLl1rdance with GASB <;tatelllent No 38 Cerra in Finuncial SIaleme17l "vule Disc!osurn I q COMBINING AND INDIVIDl1AL FUND STATEMENTS AND SCHEDULES CITY OF WHEAT RlDGE. COLORADO COMBINING BALANCE SHEET NONMA.lOR GOVERNMENT Ai FUNm December 31 2003 (( llntinuedl \ee the aCl'ompaJl\ lllg lndepcndcl1t A.l1dil0r~' Report. 2(J RICHARD, URBAl'-. ML"\llIP'\l HARl RENE\\ AL CONSER Y A TION C()l'Rl ]~1PIH1VEMEN"] AL'TH(lRIT'\ F()lIJPMEN'1 TRI'Sl COMPUTER "- ~ 75 744 ~ 23.'5'1 ~ :164 035 ~ ~ :123.254 ~ 2411.111111 21 O()() ] 5.262 ~ '5 '44 < 45 I,q ~ 619.2'1' $ $ 323.254 $ ~ 4466 $ $ 28.1 ~2 $ $ 17.384 S 24U 11011 446" 268.] ~2 17.384 2.856 X.535 7L27g 42.3113 :151 115 297335 71.278 45 ] 59 351 J ] 5 3U5.870 $ 'i5 74..:t S 45 1"'9 S (,19.29'7 ~ $ 323.254 $ ASSETS Cash and Inveqmenb Receivable, I\ccounb Propert, 1 "xes Intergovernmental TOT I\L I\SSET~ I.IABlI.ITlES I\l"D Fl 'NO BALAl\CES I.IABII.ITlES Accounts Payable Accrued Liabilities Due 10 Other Funds Deferred Reyenue, TOT I\L I.IAB]LIT]ES FUND BALANCES Reserved for Encumhrunce~ L1nreserved. reported in Special Revenue I'unds TOTAL FUND BALAl"CES CITY OF WHEAT RIDGE. COLORADO COMBIN]NG BALANCE SHEET '-IONMA.lOR GOVERNMENTAL FUNDS December 31 2003 IContinued) BAUGH HOUSE j, $ j, ] 3 017 35061 48.078 751 148.8291 148.(78) TOTAl. L1ABILIT]!.S AND FUND BAI.ANCES s <;ee the accompanying Independent ;\uditors' Report. 21 HOT!.!. MOTEl j, 202.96:; 18.323 $ 221.28h $ ]2.953 12.95, 208.333 208.333 s 221.286 TOl AI $ 1.2 ]4.27~ 18.323 240 (lOll 206 97] $ 1.679.56Y s 74.894 12.95~ 37.3 "1~ 2411111111 365.22~ '75.St:(I 1.238.76- 1.3]4 ,4- 5> 1.679,569 ern UF WHEAT RIDGE. COLORADO COMBINPKi STA TEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES NONMA.lOR GOVERNMENTAl. FUNDS Y car Ended December 31 2003 tiPEN P01.ICF PARK SFJ\:]ORrTEE1'- SPACL P\VLST](iA T]ON ACOll1SIT]ON CENTER - -- REVEN11ES 1 axes S $ S $ Intergovernmental I 126.894 Charges for ~LT\'ices 15079 fines and l.or1citure~ Interest 69< 656 437 512 \1iscellaneolls ] 6.977 15.67] '1 OT AL REVENl'lS ] 127.58'1 17.633 15.5 ]6 16.183 EXPENDITURES Current eleneral GOH'rlllllt'fll Plannlllg and De\ elClpmcnt Police 32.685 Parks and Recn:atillll 641710 7.2711 (apitaI OUlla\ T01'\1. FXPENDITlIRJ:S 6417]11 32.685 7.2711 ----------- EXCESS OF REVEN11LS (IVER ItINDER) J:XPENDITl 'RES 485.879 ( 15.(52) 15.5]6 8.9117 OTHER FI"IANCIl\J(j <;01 'RCI:S It '<;1-<;1 'I ransfers In 28.649 T ransftrs Out 1700.0011 ) (28.649) 115.2671 lOT AL OTHER Fl'\ANCING SUURCES (USES 1 1671.3511 128.(49) ( 15.267) "irT CHAN( ,I' I"i Fl.'ND HA] \"iCES 1 ] 854721 (150521 (13 J 33 I 16.311111 FI TJ\D BAI.ANCr<;. Bcgll1ning 4] 6.89R ]3 ] 825 ]3 133 38.831 HIND BAI.ANClS f--ndin~ S 231 4211 S ] 16 773 $ $ 32.471 -----..-- ( Continued) ~ee the (Kcolllp8.lwing Independent A.udilOrs' Repon. "" UIl m WHEAT RIDGI::. COLORADO COMHlNING STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES NONMA.lOR GOVERNMENTAL FUNDS '> car Ended December 31 2003 1 Continued 1 BAUGH HOTEL HallS!:: MOTEL TOT 41 REVENUI::~ '] axe, $ S 407 45~ $ h60.275 Intergo\ crIllllt'ntal 2] 120 1.55~.5'19 Charges for \er\'ices 35 R 1 'I Fines and Forfeiture, 38,330 lnterest 5U5 8.243 3] 08~ !\1iscellaneous 8.691 75.Y5'1 lOT 41. RFVE'-il'ES 30.3] 7 415 69R 2.3970h'l - EXPENDITURES Current (ll'nera] Gcnnnment 24 h62 70.n25 Planning and De\eIopment 244 U62 Police 550703 583 '88 Parks and '<eereation 837.57'1 Capital OLltla, 68,f18h 4R4.50c TOTAl. EXPENDlTl 'RES 92.748 550703 2.2 I 9.561 E}..CF<;S OF REVENUES OVER (UJ\:DER) EXPEI\DlTURF<; 162.43] 1 11350051 177.508 OTHER F]NANCING SOURCES (1 'SESI Transfers ]n 528.M9 Transfers (Jut 16156501 I] 940.7901 TOTA,L OTHER FINAl'-C]NG SOL RCES (l'SESI (6]5.6501 I] 412. ]411 NET CI ]ANGE IN HIND BAt A,NCES 162.43] 1 (750.6551 (] .234.6331 FlIND BAI A,NCE. Beginning 14.353 958.Y88 2.54R.Y80 HIND HAl A,",CL. Lnding $ 148.071') "- 208.3,3 S l.314.34~ "'LT the al'compan\ing Independent I\uditnrs' Report. 23 C]TY OF WHEA T RIDGE. COI.ORADO OPEN SPACE BUDGETARY COMPARISON SCHEDULE 1 ear Ended December 31. 2003 OR]G]NAI. V AR]ANCE A '\II) FINAl Positivl' BLD(jEl ACTUAl. (Negmivel REVENL ES ]ntergovernmentaI S 1 036000 $ 1 126.894 $ 90.894 Interest 695 6'J~ TOTAl. RE\' E'IUES 1.036.000 127.589 91.584 EXPEl'\D]TURES ( urrent Parks and Recreation 510,260 348.047 162.2]3 EXCESS OF REVENUES OVER (UNDER I EXPEJ\:D1TURES 525 740 779.542 253.802 OTHER FlNA "CING SOURCES 1 LISES 1 Transfers In 28.649 28.649 Transfers Out OliO 000) 1700.000 ) 10TAL UTIIER FI"ANCING SOURCES IL'SESI (7000001 1671.351) n.64'l i'ET CHANGE ]?'\ FL',m BALA "iCE. Budgetar: Basis S _~174.2_6QI ] 08.19] $ 282.451 ------ ADJUSTMENTS TO GAAP BAS]S Encumbrances Prior 1 ear (35710] ) Current 1 eal 63 438 TOTAL ADJUSTMENTS 1293.6631 NET CHA '\iGE 11\ FL''\D BALA 1\ICE. GAAP Basis $ 1]85472) "ee the accompanying Independent A uditors' Report. 24 CITy OF vmEA T RIDGE. COLORADO POLlCE INVESTIGA TION Bl'DGETAR\ COMPARISON SCHEDULE '\ ear Ended December 31. 2003 OR]GINAI. V ARIA:--!CJ: AND FINAl. Po~it]\'t.' BliDGET "CTU"] (1\q.'3tivc I REVENUES Interest S 4000 $ 656 $ (3 ,44 I Miscellaneous ]6.977 16.97: TOTi\L REVENUES 4000 17633 13_63-; EXPENDITURES Current Police 50.000 32.68' 17.3] , '\JET CHA '\JGE l"i FUND BAI.ANCE S (46.000 ) S 1150521 S 30.948 "ee the alTl>mpanying Independent i\uditors' Report. 25 CITY OF WHEAT RIDGE. COLORADO PARK ACOUISITION BUDGETARY COMPARISON SCHEDULE Year Ended December 3], 2003 OR]GINAL V i\R]ANCE AND FINAL Positive BUDGET ACTUAL (Negative) REVENUES Charges for Services $ $ 15,079 $ ]5.079 ]ntcrest 500 437 _(6~ TOTAL REVENl!E~ 500 ]5.5]6 15.0]6 ----- OTHER FINANC]NG SOURCES (l'SES) Transfcrs ]n 8,]75 (8.175) Transfers Out (28.649) (28.649) TOTAl. OTHER F1J\:ANCING SOURCES (USES) 8.175 128.649) (36.824) NET CHANGE IN FUND BALANCE $ 8.675 $ (13.133) $ ~21.808) Scc Ihe accompanying Indepcndcnt Auditors' Report. 26 CITY OF WH!:A T RlDGE. COLORADO SENIOR/TEEN CENTER BUDGETARY COMPAR1SON SCHEDULE \ ear Ended December 3]. 2003 ORIGINAL V ARJANCE AND FINAL Positive Bl'DGEl ACTUAL IN~ativ~ REVENUES Interest $ 800 $ 5J2 $ (288) Miscellaneous 15.500 15.671 ]71 nn AL REVEI\:UES J6.300 J6,]83 (117) ---- -- -~ EXPENDITURES Current Parks and Recreation 34.800 _7,276 27.524 -- - EXCESS OF REVENUES OVER (lINDER) EXPENDITURES 118.5001 8,907 27 407 OTHER FINANCING USES 1 ransfers Out (15,267) (I5.267) I\ET CHANGE IN FUND BALANCE $ _JJ 8.5(0) $ 16,360) $ 12.140 - See the accompanying Independent Auditors' Repon. 27 CITY OF WHEAT RIDGE. COLORADO MUNICIPAL COURT BUDGETARY COMPARISON SCHEDULE Year Ended December 31. 2003 ORlGINAL V ARlANCE AND FINAL Positive BUDGET ACTUAL (Negative) -.--..-- REVENUES Fines and Forfeitures $ 42.525 S 38.330 $ (4.]951 Interest ].500 1.8]9 3]9 TOTAL REVENUES 44.025 40,149 (3.876) EXPENDITURES Current General Government 91.985 45.363 46.622 NET CHANGE ]N FlTND BALANCE $ 147. <}(,Q) $ (5.2]4) $ 42.746 <;ee the accompanying Independent A uditors' Report. 28 C1Tl OF WHEA T RIDGE, COLORADO RICHARDS/HART IMPROVEMENT BUDGETARY COMPARISON SCHEDULE Year Ended December 3].2003 ORIGINAL V ARIANCl AND FINAL Positive Bl'DGFJ ACTUAL I"e?ative I REVENUES Intergovernmental S 50 400 S 41 72~ S 186781 Charges for ~ef\,ices 15.090 20 740 5650 Interest 240 1.038 798 TOTAL RE\ ENUES 65 730 63.500 12.230 I - - EXPENDITURES Current Parks and Recreation 95.325 68461 26.864 NET CHA"JGE I)\, FL1ND BALANCE. Budgetar: Basis $ ( 29.5951 (4,9611 S 24.634 ADJ\STJ\lENTS TO GAAP BA <;IS E.ncumbrances Prior) ear (44711 Current \ ear 2,856 - TOTAL ADJUSTMENTS (1 6151 NET CHA:'-!GE 1N FL'ND BALANCE. GAAP Ba';s S 16.5761 - - - "ee the accompanving Independent A uditors' Report. 211 CITY OF WHEAT RIDGE. COLORADO URBAN RENEWAL AUTHORITY BUDGETARY COMPARISON SCHEDULE Year Ended December 3], 2003 ORIG]NAL V ARlANCE AND FINAl Positive BUDGET ACTIJAL (l\:e~ative) REVENUES Taxes $ 320.000 $ 252.820 $ (67.]801 Interest 5.000 4.497 15031 - - - - TOTAL REVENUES 325.000 257.317 167-,6821 -- - -- -- -- EXPENDITURES Current Planning and Development 573.800 244.062 329738 -.-- NET CHANGE IN FUND BALANCE $ (248.800 ) $ 13.255 $ 262.055 -- See thc accompanying Independent Auditors' Repon. 30 CITY OF WHEAT RIDGE. COLORADO EOUIPMENT BUDGETARY COMPAR1S0N SCHEDULE Year Ended December 3], 2003 OR]GINAL V ARlANCE AND FINAL Positive BlIDGEl ACTUAl (Negative) REVENUES ln1l'rest $ 3.00IJ $ 5.145 $ 2.145 Other 56.000 34.619 (21.381) TOTAL REVENUES 59 000 39,764 (19.236) -- EXPENDITURES Capital Out!a, 383.500 283.283 ] 00.217 -- ---- EXCESS OF REVENllES OVER (UNDER) EXPENDlTURES 1324.5(0) (243.5 !'D 80,981 OTHER FINANCING SOlIRCES (USES) Transfers In 400.000 400,000 Transfers Out ~267.888) (267,888) 1 mAL OTHER F1J\ANCING SOLIRCES (USES) 400.000 ]32.1]2 ~67.888) NET CHANGE ]N fL'ND BALANCE $ 75.500 $ _(llL"Ol) $ ( 186.907) -~- - See the accompanying Independent Auditors' Report. 3] CITY OF WHEAT RIDGE. COLORADO CONSERV A TION TRUST Bl'DGETARY COMPAR1SON SCHEDULE Year Ended December 31, 2003 TOTAl. REVENUES ORIGINAL VARIANCE AND FINAl P05itivl' BUDGE'I ACTUAL ~~~~ali\'cl S 279 000 S 365.863 S 86.~63 3.240 3.240 279000 369 103 'i0 103 REVENUES Intergovernmental Interest EXPEl\JDITlRES Current Parks and Recreation 3 ] 0 000 79.5811 23042(1 NET CHANGE]N FL1ND BALA'iCE. Budgetan Basis s 13] 0001 289.523 s 320.5~3 ADJUSTMENTS TO GAAP BASIS Encumbrances Prior '\ ear Current '\ ear 1474721 8,535 TOT".L ".DJL1STMENTS 1389371 NET CHANGE ]N FUND BALANCE. GAAP Basis $ 250,586 <;ce the accompanying Independent Auditors' Repon. '0 ,'- Cln' OF WHEA T RIDGE. COLORADO COMPUTER Bl'DGET ARY COMPARISON SCHEDULE \ ear Ended December 31,2003 ORIGINAL VARIANCE AND FINAl Positive B1 !l)(,El II.CfllAL _ (N"j'ati\t I RE\'ENIIES Interest $ 5000 $ 4,300 $ 17001 EXPE'\DITl.'RES Capital OUIIa, 348415 1 27.705 220 710 EXCESS OF REVENUES OVER 1 UNDER 1 F\(PE"lDITURES 1,434151 (l23405) 220.010 - UTHER F1"A"-CI"JG "OURCES I U<;ES 1 Transfer, In 100.000 lOO.OOO Transfers Out (313,3361 (313.3361 lOT AI. OTHER FI\.ANCING <;QURCES Il'SES 1 jOO 000 (213,3361 1313.3361 "lET CH II.l\GE 1'- FU'\D BAL.li. "iCE. Budgetaf\ Basi, S 12434]51 (3367411 $ 193.3261 i\D.1l'ST\1ENl S TO GAAP BA<;J<, [nclll11brances Prior '\ tal (5,433 ) C Unen! '\ ear TOTII.L II.Dll'STMEJ\:T<; (5,433 ) J\:El CHANGE 11\ FlH\!D B.i\I.ANCE. GAII,P Basis S j342,174 ) - - <'cc the accnmpanying Independent lI.uditors' Repon. CIT\ OF WHEA T RIDGE. COLORADO BAUGH HOUSE BUDGETARY COMPARISON SCHEDULE \ ear Ended December 31. 2003 ORIGINAL V AR]ANCr i\J\D fiNAl Positive Bl ;[)GEl ACTLAl IJ\egativel REVENUES Intergovernmental $ 4'1725 $ 21 120 $ 1286051 Imerest 700 505 11951 Miscellaneous 20.000 8.692 I] 1.3081 TOT i\L REVENL:ES 70425 30,317 (40 1081 EXPENDITURES General Government ]0.000 24.662 1146621 Capital OUlla, 90067 68.837 2].230 TOT AI. EXPENDITL'RES ]IJO 067 93.499 6.568 '\ET CHA'\(,E 1'\ FU'\!D BALANCE. Budgetar: Basis S t29.6<121 (63 1821 S (33 .540 I i\DJL'STMENTS TO GAAP BASI<; Encumbrances Prior 1" ear Current Yeal 751 TOT A I. A DJ L' <;TME'\TS 751 NE'j CHA '\IGE ]'\ FL'J\:D BALA '\CE. GAAP Basis S (62.43]) ';ee the accol1lpaming Independent i\uditors' Repon. 34 CITY OF WHEAT RIDGE. COLORADO HOTEL/MOTEL BUDGETARY COMPARISON SCHEDULE Year Ended December 31. 2003 ORIGINAl. VARIANCE AND FINAL Positive BUDGEl ACTUAL ~egalive) REVENUES Taxes $ 435.206 $ 407.455 $ (27.751) ]ntergovernmentaI 6.000 (6.000) Interest 15000 8.243 (6.757) -~ TOTAl. REVENUES 456.206 415.698 (40.508) EXPENDlTLlRES Police 629.539 550.703 78.836 EXCESS OF REVENUES OVER (LINDER) EXPENDITURES (173.333 ) (135.005) 38.328 OTHER FlNANC]NG USES Transfers Out (200.000) 1615.650) (4]5,650) NET CHANGE IN FUND BALANCE $ (373.:i:uJ $ J750.65~ $ (377.322) See the accompanying Independent A uditors' Report. 35 CITY OF WHEA T RIDGE. COLORADO CAPITAL PROJECTS BUDGETAR\ COMPAR1SON SCHEDULE 1 ear Ended December 31. 2003 VARIANCE WITH FINAL ORIGINAl FINAl Po~iti\'l: B\DGFl BUDGET ACTUAL l1\e~ative I REVE1\JL'ES Taxes $ 5085.]03 $ 5085.10, S 4924.558 $ 1160.5451 Intergovernmental 133.500 133.500 307.039 173.539 Interest 27.478 27478 \1 isccllaneous 325 OOfi 325 000 2.906 1322.094 I TOTAL RE\'E1\JL'ES 5.54360, 5.543 603 5.261981 1281.6221 EXPEND]TL:RES (apitaIOulla, 3.565 ] 70 4.464420 2.786.174 1.678.241> TOT "'I. FXPEND]TURES 3.565 170 4 464.420 2.786 174 1.678.246 L\CESS OF REVENL'ES OVFR (UNDER 1 EXPENDITURE'S I 978.433 ],079183 2.475.807 ] .396624 OTHER FINANCING <;OURCES rLISESI Transfers In 415.650 4] 56511 Transfer Out 12.677.000 I 12.677.0001 (2.677 0001 TOTAL OTHER FI1\ANC]?\G SOURCES ILISESI 12.677 000 I (2.677 000 I 12.261.3501 4] 5.650 J\:ET CHANGE IN Fl'''\D BAI.A NCE. Budgetary Basi, $ 1698.567 ) $ 11.597.8]71 2] 4457 $ 1.812.274 --- -------...- "'DJUSTMENTS TO GAAP BASIS Encumbrances Prior Year 1917.4251 (urrent Year 640.942 TOTAL "'D.lL STI\1ENT" 12764831 J\:ET CHANGE IN FUJ\:D B "'LA '\.CE. GAAP Basis S 162.026_1 "ee the accompanying Independent "'uditors' Report. ~h SUPPLEMENT ARY INFORMATION The public rcpnI1 hurden tor thi~ inlolll1ation collection 1~ e~tlmtlted to average 380 hours annuall:- Fonn Approved OMB No. 2125-()032 This Informal1on From Thc Rccords Of I exampIc - Cll\ of or County of City or Count, City of Wheat Rtd e YEAR ENDING December 2003 Prepared by Linda Stengcl. "'ccountlng Supervisor Phone: 303-235-2817 LOCAL HIGH\\A" FINANCE REPORT I. DISPOSITIO'\ OF HIGHWAY-lSER REVENUES AVAILABLE FOR LOCAL GOVERJ\'MENT EXPENDlTLIRE ITEM " 3 4 ) ]1. ITEM A. "'. Local Motor-Fucl Taxes B. Local Motor-\ ""ide Taxes C. Receipts from State llighway- t Iser Taxes D. Receipts] rom Federal Highwav Administralion 2. 3 4 5 6 B. C D. Loe "'L RO"'D A"D STREET HIND BALANCE B T ota] RCCCI ts 5 74U63 C Total Disbursemcnt 5.743.863 D EndiTlP Balance E. Reconciliation o FORM FHWA-536 (Rn.UI-04) PREVIOL'S EDITIONS OBSOI.ETE (Next Page 1 37 LOCAL HIGHWAY FIN^"I'IICE REPORT STATE. Colorado YEAR ENDING (mm/yy)' December 2003 II. RECEIPTS FOR ROAD AND STREET PURPOSES - DETAIL A.3. a. b (Carry forward to page 1) o o o o o 38.97] o 5.822 44.793 (Cany forward to page J) ITEM C. Reeci ts from State Government 1 Highwav-user taxes 2. State genera] funds '1 Other State funds a. State bond IOceed, b ProieclMatch C Motor Vehicle Registration d. (S ecifv) CDBG GRANT e (S ecifvl f. Total I a. through e ) Total (] + 2 + 3.f) III. D]SBlJRSDIEl\'TS FOR ROAD AND STREET PURPOSES - DETAIL A.1. Ca italoutla\': a. Right-Of-Wav Costs b Engineering Costs c. Construction: (]). Ca acitv]m rovements (2). Svstem Preservation (3). Safety And Other (4). Tola] ConstructIon (1 )+(2)+(3) d. Total Ca ita] Outlav (Ltnes La. + ] b -j- I c 4) ON NA TI ONAL H]GHWAY SYSTEM (a) OFF NA T]ONAL H]GHWAY SYSTEM (b) TOTAL omments: o 1 003.130 622.363 ] .625.493 1.625.493 I (any forward to page 1 J FORM FHWA-536 (Rev.]-04) PREVIOUS EDIT]ONS OBSOLETE 38