HomeMy WebLinkAbout1992
Comprehensive
.9Lnnua[
~inancia{
9\?port
City of
Wheat 9?jdge
Co [orado
1992
Fiscal Year Ended
December 31
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CITY OF WHEAT RIDGE
WHEAT RIDGE, COLORADO
Comprehensive Annual Financial Report
For The Fiscal Year
Ended December 31, 1992
And
Auditors' Reports
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PREPARED BY:
James O. Malone
City Treasurer
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Linda Stengel
Chief Accountant
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Yanari, Watson, Lyons and Company P.C.
Certified Public Accountants
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CITY OF WHEAT RIDGE
WHEAT RIDGE, COLORADO
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1992
TABLE OF CONTENTS
INTRODUCTORY SECTION
Letters of Transmittal:
City Administrator
City Treasurer
Organizational Chart
List of Principal Officals
GFOA Certificate of achievement for excellence in
financial reporting
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FINANCIAL SECTION
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Independent Auditors' Report
General Purpose Financial Statements:
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Combined balance
account groups
Combined statement of revenues, expenditures
and changes in fund balances - all governmental
fund types and expendable trust fund
sheet - all fund types and
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Combined statement of revenues, expenditures
and changes in fund balances - budget (non-gaap
basis) and actual - general, special revenue,
debt service and capital project funds
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Statement of revenues, expenses and changes in
fund balances - pension trust fund
Notes to the financial statements
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Page No.
1 - 3
4 - 8
9
10
11
13 - 14
15
16 - 19
20 - 21
22 - 25
26
27 - 41
CITY OF WHEAT RIDGE
WHEAT RIDGE, COLORADO
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1992
TABLE OF CONTENTS
(Continued)
Supplemental information _ combininq, individual
fund and account qroup statements and schedules
General fund:
Page No.
Comparative balance sheets
Comparative statements of revenues, expenditures
and changes in fund balances
Schedule of revenues, expenditures and changes
in fund balance - budget (non-gaap basis) and
actual
42
43
44
45
Special revenue funds:
Combining balance sheets
Combining statements of revenues, expenditures
and changes in fund balance
46
47
48 - 49
50 - 51
Combining schedules
and changes in fund
basis) and actual
Debt service fund:
of revenues, expenditures
balance - budget (non-gaap
52 - 56
57
58
Comparative balance sheets
Statement
in fund
actual
of revenues, expenditures and changes
balance budget (gaap basis) and
59
Comparative balance sheets
Comparative statement of revenues, expenditures
and changes in fund balances
60
61
Capital projects fund:
62
Schedules of revenues, expenditures and changes
in fund balance - budget (non-gaap basis) and
actual
63
CITY OF WHEAT RIDGE
WHEAT RIDGE, COLORADO
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1992
TABLE OF CONTENTS
(Continued)
...
Supplemental information _ combininq, individual
fund and account qroup statements and schedules
(continued)
Fiduciary funds:
Combining balance sheet
Combining schedule of revenues, expenditures, and
changess in fund balances - budget (non-gaap)
and actual - expendable trust fund
Agency funds:
Combinin9 statement of changes ln assets and
liabillties
Page No.
65
66 - 67
68
...
General fixed assets account group:
Comparative schedule of general fixed assets -
by source
Schedule of general fixed assets by function and
activity
Schedule of changes in general fixed assets by
function and activity
70 - 71
72
73
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74
...
75
STATISTICAL SECTION
- Assessed and estimated actual value of taxable property
General governmental expenditures by function
...
General governmental revenues by source
General governmental tax revenues
Property tax rates - direct and overlapping governments
Property tax levies and collections - general fund
Principal taxpayers
Special assessment billings and collections
Computation of legal debt margin
77
78 - 79
80 - 81
82 - 83
84 - 85
86
87
88
89
CITY OF WHEAT RIDGE
WHEAT RIDGE, COLORADO
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1992
TABLE OF CONTENTS
(Continued)
STATISTICAL SECTION - (Continued)
Computation of direct and overlapping debt
Ratio of annual debt service for general bonded debt
to total general fund expenditures
Ratio of net bonded debt to assessed value and net
bonded debt per capita
Revenue bond coverage - sales tax revenue bonds
Demographic statistics
Construction, property value, and bank deposits
Miscellaneous statistics
Independent auditors' report on supplementary information
statement of receipts and expenditures for roads, bridges
and streets
Colorado Highway Department schedule of receipts and expend-
itures
Page No.
90
91
92 - 93
94
95
96
97
99
101 - 105
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P.O BOX 638 TELEPHONE 303/237.6944
7500 WEST 29TH AVENUE . WHEAT RIDGE, COLORADO 80033
The City of
~heat
GRidge
April 14, 1993
The Honorable Mayor Winger and
Members of the City Council
City of Wheat Ridge
Wheat Ridge, CO
Dear Mayor and Members of City Council:
In accordance with state statutes and local charter provisions, I
hereby transmit the annual financial report of the City of Wheat
Ridge as of December 31, 1992, and for the fiscal year then
ended. Responsibili ty for both the accuracy of the presented
data and the completeness and fairness of the presentation,
including all disclosures, rests with the City. Management
believes that the data, as presented, are accurate in all
material aspects; are presented in a manner designed to fairly
set forth the financial activity of its various funds; and that
all disclosures necessary to enable the reader to gain the
maximum understanding of the City's financial affairs have been
included.
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Internal accounting controls are discussed by the City Treasurer
in his accompanying letter of transmittal, and within that
framework, I believe that the City's internal accounting controls
adequately safeguard assets and provide reasonable assurance of
proper recording of financial transactions.
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This report has been prepared in accordance with the guidelines
recommended by the Government Finance Officers Association of the
United States and Canada. In accordance with these guidelines,
the accompanying report consists of three parts:
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1. Introductory Section, including the City Treasurer's
letter of transmittal;
2. Financial Section, including the financial statements,
supplemental data on government and our independent
auditor's opinion;
3. Statistical Section, including a number of tables of
unaudited data depicting the financial history of the
government for the past ten years, information on over-
lapping governments, demographic and other miscellaneous
information.
THE REPORTING ENTITY AND ITS SERVICES
This report includes all of the funds and account groups of the
Ci ty in conformance with Governmental Accounting and Financial
Reporting Standards.
~~The Carnatwn Cit,v"
1
Page 2
Services provided by the City include
only), public works (streets, traffic,
parks and recreation, planning and
administrative services.
public
public
zoning,
safety (police
improvements) ,
and general
The R-l School District provides all educational services to the
students within Jefferson County, Colorado. The R-l School
District is the reporting entity and is not a part of the City of
Wheat Ridge. Additionally, numerous special districts provide
water, sanitation, and fire protection services, all of which are
their own reporting entities.
ECONOMIC CONDITION AND OUTLOOK
Wheat Ridge is primarily a residential suburban community bound
on three sides by the cities of Denver, Edgewater, Lakewood, and
Arvada. Unincorporated Jefferson County lies to the west.
Interstate 70, which is Colorado's major east-west highway,
passes through Wheat Ridge on the north and west. This highway
is a major link between Stapleton International Airport, downtown
Denver and recreational areas in the Rocky Mountains. As there
is little room for outward growth, redevelopment of existing
areas comprises the new construction in Wheat Ridge. During the
past year, commercial construction included the start of a large
emergency service building on the Lutheran Medical Center campus,
the continuation of a large residential housing complex for
seniors, and the expansion of a candy manufacturing plant.
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Wheat Ridge is known for its business stability. The major
property tax payers include a brewery glass container plant,
three shopping centers, a psychiatric hospital, a medical office
building and a candy manufacturing plant. Sales tax, our largest
source of revenue, is derived mainly from four supermarkets,
electricity/gas and telephone utilities, a liquor store and a
discount general merchandise store.
By using conservative revenue estimates and monthly monitoring of
expenditures throughout 1992, the City was able to minimize the
decrease ($30,413) of the General Fund carryover fund balance
from 1991. The 1993 budget maintains the current level of
services while keeping expenditures to a minimum. It is a
balanced budget, and the staff remains committed to that goal.
Wheat Ridge still boasts one of the lowest sales and property tax
rates in the metro area.
MAJOR INITIATIVES
In November 1992, the City Council considered a Business
Development Zone agreement with LEAF, Inc., a candy manufacturing
plant. A resolution was approved in January 1993.
Revitalization of 38th Avenue began with community meetings in
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1989 and construction will continue through 1994. The segment
between Wadsworth Boulevard and Pierce street was completed in
1990. The segment between Pierce street and Sheridan Boulevard
was completed in 1991. Improving streets, sidewalks and
landscaping in this vital area of Wheat Ridge will provide an
attractive and viable business district while adding to our sales
tax base. Wadsworth to Cody will be the next phase of the
construction and the final phase, Holland to Kipling, will finish
the scheduled 38th Avenue project in 1994. Included in this
revi talization of 38th Avenue between Sheridan Boulevard and
Kipling Street is the undergrounding of utility lines at a
projected total cost of $2.7 million.
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Through the Jefferson County Open Space program, Wheat Ridge's
attributable share of available funds was $1.34 million as of
January 1, 1992. The money, which is derived from a $.005 sales
tax levied by Jefferson County especially for this program can be
used for land development and related park maintenance
expendi tures. The maj or use of funds during 1992 included a
trailhead at W. 41st Avenue and Youngfield, the completion of the
Clear Creek crossing at Kipling Street, and general park
maintenance.
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Ci ty Council approved the funding for a Drug Abuse Resistance
Education (D.A.R.E.) program starting in June 1990 and continued
through 1992. One sworn police officer has been assigned to this
program which emphasizes sixteen weeks of education to 6th grade
students in three of the Wheat Ridge elementary schools.
CONCLUSION
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state law requires that the financial statements of the City of
Wheat Ridge be audited by an independent certified public
accountant selected by the City Council. This requirement has
been complied with, and our auditor's opinions are included in
the financial and single audit sections of this report.
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The preparation of this annual financial report could not have
been accomplished without the dedication of the City Treasurer's
office. I express my appreciation to all involved for their
continued efforts in the management of the City's accounting and
financial programs.
Respectfully submitted,
~C
Robert C. Middau
City Administrator
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POBOX 638 TELEPHONE 303/237.6944
7500 WEST 29TH AVENUE . WHEAT RIDGE, COLORADO 80033
The City of
~heat
'Ridge
April 12, 1993
The Honorable Mayor Winger,
Wheat Ridge City Council, and
City Administrator
City of Wheat Ridge
Wheat Ridge, Colorado
Dear Mayor and members of City Council:
The Comprehensive Annual Financial Report of the City of Wheat Ridge,
for the fiscal year ended December 31, 1992, is submitted herewith.
This report was prepared by the City Treasurer's office.
ACCOUNTING SYSTEM AND BUDGETARY CONTROL
In developing and evaluating the City's accounting system,
consideration is given to the adequacy of internal controls. Internal
accounting 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 _ I
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 judgements by management.
The City of Wheat Ridge uses funds and account groups to report on its
financial position and the results of its operations. Fund accounting_
is designed to demonstrate legal compliance and to aid financial
management by segregating transactions related to certain government
functions or acti vi ties. The City has a general fund where all the
current operations of the City are recorded; a capital projects fund-
where all major drainage, street, traffic, and building projects are
recorded; and 14 other smaller funds established for a particular
purpose. The two account groups - fixed assets and general long-term-
debt - are concerned only with the measurement of financial position
and thus do not record results of operations.
The budget process begins in April and ends with the adoption by City
Council prior to December 15 of each year. The budget document is
prepared on a generally accepted accounting principles (GAAP) basis,
excepting the General, Capital Project, Open Space and Capital
~~The Carnation City"
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Improvement funds which are adopted on a non-gaap basis. The level of
budgetary control (the level at which expenditures cannot legally
exceed the appropriated amount) is established at the
department/division level wi thin an individual fund. The budget is
then integrated into the formal accounting system January 1 of each
year. If during the fiscal year, the City Administration determines
that there are available for appropriation revenues in excess of those
estimated in the budget, the Council, by resolution, may make
supplemental appropriations for the year up to the amount of the
excess. Additional budgetary control is maintained by the encumbrance
of purchase amounts prior to the release of purchase orders to
vendors. Encumbrances present commitments related to unperformed
contracts for goods or services. Open encumbrances are reported as
reservations of fund balance at year end.
GENERAL GOVERNMENTAL FUNCTIONS
Revenues for general governmental functions (General Fund $9,279,869,
and Special Revenue Fund $492,151 totaled $9,792,316 in 1992, an
increase of 3.05% over 1991. The amount of revenues from various
sources and the increase (decrease) over last year are shown in the
following table:
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REVENUES
BY SOURCE
1992 AMOUNT
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Taxes
Licenses & Permits
Intergovernmental
Charges for Services
Fines & Forfeitures
Interest Income
Other Revenue
TOTAL
$6,712,572
344,309
1,897,279
304,036
250,499
112,805
170.816
$9,792,316
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PERCENTAGE
OF TOTAL
INCREASE
(DECREASE)
FROM 1991
PERCENTAGE
INCREASE
(DECREASE)
3.85%
6.26
.07
15.00
(11.56)
(16.28)
34.00
3.05
The major source of revenue for the City of Wheat Ridge is retail
sales and use tax ($4,582,943). This comprises 49.39% of total current
General Fund revenue. The one percent (1%) General Fund sales tax
revenues for 1992 were $3,051,743, an increase of 5.74% or $165,767
over 1991 collections. General Fund use tax (auto, building,
professional and retail) revenues for 1992 were $1,531,200, a decrease
of 11.19% or $192,886 under 1991 collections.
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68.55%
3.52
19.38
3.10
2.56
1.15
1.74
100.00
$248,629
20,283
1,238
39,648
(32,741)
(21,934)
43.336
$298,459
Current property tax collections for 1992 were 98.6% of the tax levy.
The mill levy was set at 2.418 mills for 1990, increased to 2.458
mills in 1991, and raised to 2.714 mills in 1992 to stay within the
property tax limitation set by state statute.
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Expenditures for general governmental functions totaled $10,069,805 in
1992, an increase of 9.23% over 1991. Increases or (decreases) in
levels of expenditures for major functions of the City over the past_
year are shown in the following table:
EXPENDITURE INCREASE PERCENTAGE
ACTIVITY PERCENTAGE (DECREASE) INCREASE -
BY FUNCTION 1992 AMOUNT OF TOTAL FROM 1991 (DECREASE)
General Government $ 1,277,604 12.69% $101,489 8.63%
Planning & Develop. 545,496 5.42 21,281 4.06
Public Safety 3,675,408 36.50 162,893 4.63
Public Works 2,061,221 20.47 270,147 15.08
Parks & Recreation 1,538,701 15.28 15,521 1.02
Other 971. 375 9.64 279.433 40.38
TOTAL $10,069,805 100.00 $850,764 9.23
PENSION FUNDING POLICIES
The City participates in three mandatory and voluntary pension plans.
All full-time, sworn police officers participate in a single employer_
defined contribution money purchase plan. The employee contributes ten
percent (10%) of annual salary, and the City contributes ten percent
(10%). Three department heads contribute four-percent to the
International City Managers Association (ICMA) , I. R. C. Section 457-
retirement plan. The City matches these amounts. The remainder of the
full-time permanent employees are required to join the Colorado County
Officials and Employees Retirement Association (CCOERA) plan after one_
year of service with the City. These employees contribute four-percent
(4%) of their annual salary to the plan, which the City also matches.
DEBT ADMINISTRATION
The City may use debt financing when either long-term capital projects
are desired, or when it can be determined that future citizens will
receive a benefit from the improvement.
Sales Tax Revenue Bonds were issued August 12, 1988, for $2.99
million. These bonds, rated "A" by Moody's, were sold to finance
capi tal proj ects budgeted in the Capital proj ects Fund. These bonds-
will be repaid over ten years through a one-percent (1%) share of the
sales tax collections. Projects include 32nd Avenue and 38th Avenue
reconstruction. As of December 31, 1992, Wheat Ridge has a $90 per-
capita debt ratio. This bond issuance makes up 9.39% of the legal debt
limi ted by City Charter and a maximum of $31.85 million remains
available for future bond issuances. This bond issuance is accounted_
for in the Debt Service Fund.
The City has entered into several lease agreements for financing the
acquisi tion of equipment including vehicles, a telephone system and-
eight copiers. The lease agreements specifically state that the lease
can be cancelled at any time if the City Council does not appropriate
funds for that purpose. Funds are budgeted and encumbered for that-
years payments only.
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Wheat Ridge entered into its first long-term bonded indebtedness in
1988. On June 24, 1988, $1.25 million in Special Assessment bonds were
issued for the payment of part of the construction costs of local
improvements in the newly created Special Improvement District No.
1987-1. By passage of Ordinance 751, Series of 1988, the City Council
caused assessments to be imposed against the real property included in
the District especially benefited by the improvements. The assessments
are to be paid in ten amortized annual installments of principal and
interest, and are certified to the County Treasurer annually for
payment with the property tax assessments. The City has no obligation
for payment of the debt on these bonds and thus is recorded in an
agency fund.
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CASH MANAGEMENT
It is the responsibility of the City Treasurer to invest all idle
funds and cash within each fund. The City of Wheat Ridge has formally
adopted the prudent investor rule as a guide to the Treasurer's Office
in making municipal investments to maximize yield while minimizing
risk. The prudent investor rule states "that investments shall be made
with the exercise of that judgement and care, under circumstances then
prevailing, which men of prudence, discretion and intelligence
exercise in the management of their own affairs not for speculation
but for investment, considering the probable safety of their capital
as well as the probable income to be derived". City funds may be
invested in insured savings and money market accounts, certificates of
deposit, securities of the U.S. Government and its agencies, in
conformance wi th the Colorado Public Deposi t Protection Act
requirements. The City Treasurer monitors the interest rates on a
daily basis.
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Relatively small amounts of idle cash are maintained in checking
accounts to cover checks written. Savings and money market accounts
are insured by the F.D.I.C. and in conformance with P.D.P.A. At the
end of 1992, the City's investment in certificates of deposit and
government securities varied in interest rates from 3.20% to 9.0%, and
3.00% to 3.125% in savings and money market accounts, respectively.
The City's investment portfolio indicates investments throughout 1992
averaged 80% in U.S. Government securities and 20% in money market or
savings accounts.
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RISK MANAGEMENT
The City of Wheat Ridge takes seriously the need for a strong risk
management program. The City's program includes periodic review of all
policies, procedures and activities. Legal review of all contracts, an
active employee safety committee, employee training, review of
insurance coverage, and other ongoing loss control activities are also
employed. Working closely with our insurers and attorneys, the City
acts quickly to resolve any known risk management problems. The City
participates in a joint venture with other Colorado municipalities for
liability and property insurance, and workers' compensation. The
Colorado Intergovernmental Risk Sharing Agency (CIRSA) is a separate
and independent governmental and legal entity.
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RESERVE POLICY
The City of Wheat Ridge maintains at least an eight percent (8%) fund
balance which serves as an encumbered cash reserve in the General Fund
wi th the 1988 fund balance being at thirteen percent (13.34%) of
budget; 1989 at sixteen percent (16.72%) of budget; 1990 at twenty-
three percent (23.27%) of budget; 1991 at twenty eight percent
(28.43%); and 1992 at twenty seven percent (27.27%) of budget. The-
Ci ty Administrator plans for a fifteen percent cash reserve balance
each year.
INDEPENDENT AUDIT
Colorado state statues and the Wheat Ridge city charter require an
annual audit of the books of account, financial records, and
transactions of all administrative departments of the City. An-
independent certified public accountant selected by the City Council
has performed this requirement and the auditor's opinion has been
included in this report.
AWARDS
The Government Finance Officers Association of the United States and
Canada (GFOA) awards a Certificate of Achievement for Excellence in
Financial Reporting to local governmental enti ties for their
Comprehensive Annual Financial Report. The City of Wheat Ridge has now
received this award for three consecutive years (1989, 1990, & 1991). -
In order to be awarded a Certificate of Achievement, a city must
publish an easily readable and efficiently organized comprehensive
annual financial report, which contents conform to program standards. _
Such reports must satisfy both Generally Accepted Accounting
Principles (GAAP), and applicable legal requirements. A Certificate of
Achievement is valid for one year only.
ACKNOWLEDGMENTS
I would like to express my appreciation to Linda Stengel, Chief
Accountant and to members of the accounting staff who assisted the-
audi tors in preparing this report. Special thanks are extended to
members of the independent Certified Public Accounting firm of Yanari,
Watson, Lyons, & Co., P.C. for the manner in which they accomplished
the 1992 audit. -
Respectfully submitted,
Q-.;o.~
City Treasurer
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CITIZENS OF WHEAT RIDGE
CITY
'"- - - -
COUNCIL:
-I
r
L_____________
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PLANNING &
DEVELOPMENT
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Bul1dln9 In.p.e~lon
Bul1dln9 "aln~.nanee
CIvil DI...~..r
Cod. Enforc....n~
Plannln9 , 10n1nq
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Jl\eeoun~lnq
"udl~
Budq.t
0.1:8 Proc...ing
Purehaa1nq
Sal... Tax
S..ltchbo.rd
PARKS &
RECREATION
[,arka Ha1n1:enance
, For..try
Recr.at1on
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CITY
CLERK
CITY
TREASURER
POLICE
Anl..al/Park.
Enforc....nt
Coa=unlcatlon.
Inv...tlqat1on
Patrol , Traffic
Record.
Support S.rvIc..
Enqln....rlng
Fl..e~ H.lntenanee
Stre@t Maintenance
TraffIc HaInt..nanc.
OFFICIALS
CITY OF WHEAT RIDGE
MAYOR
Ray J. Winger, Jr.
CITY COUNCIL
Vance Edwards
Kent Davis
Elise Brougham
Phillip Edwards
District I
District II
District III
District IV
CITY CLERK
Wanda Sang
CITY ATTORNEY
John E. Hayes
Ronald Selstad
Anthony Flasco
Donald Eafanti
William Shanley
CITY TREASURER
_!
James O. Malone
MUNICIPAL JUDGE
Randall J. Davis
CITY ADMINISTRATOR
Robert C. Middaugh
DIRECTOR OF PLANNING AND DEVELOPMENT
DIRECTOR OF PARKS AND RECREATION
CHIEF OF POLICE
DIRECTOR OF PUBLIC WORKS
FINANCE ASSISTANT
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Glen Gidley
Gary Wardle
Jack A. Hurst
Robert Goebel
William Powell
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Wheat Ridge,
Colorado
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
December 31, 1991
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and financial reporting
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jJf/dt/~
Executive Director
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\ i' / :::;,=:~,~,;,,~~:~N~'~T:O, P.C
.'\1E,\1BEH.'" OF THE SEe PHA(~lKE 'I<rTIO~
1\..'<0 11 IE PRI\i\TI UJMPA~JF.S PHACTICE SElTIO'l
OF TIlE DIV[\]()]\i FOR CPA FIR.\1S, AlCI'A
(,()\'ERr\MEr\TAL FII',AI\;CF (WHeFlis A..'iseX-,L-\TH It'.;
DALE M. YANARI
RANDY S. WATSON
DERALD L LY( >NS
G. lANCE McGAlIGHE'f
DON W C;RCENLER
ARTH[iR T. WEAVER
OF C(WNSEL
INDEPENDENT AUDITORS' REPORT
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To the City Council
City of Wheat Ridge, Colorado
We have audited the accompanying general purpose financial
statements of the City of Wheat Ridge, Colorado, as of December
31, 1992, and for the year then ended, as listed in the table of
contents. These general purpose financial statements are the
responsibility of the City of Wheat Ridge, Colorado, management.
Our responsibility is to express an opinion on these general
purpose financial statements based on our audit.
We conducted our audit in accordance with generally accepted
auditing standards. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether
the general purpose financial statements are free of material
misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the general
purpose financial statements. An audit also includes assessing
the accounting principles used and significant estimates made by
management, as well as evaluating the overall general purpose
financial statement presentation. We believe that our audit
provides a reasonable basis for our opinion.
In our opinion, the general purpose financial statements referred
to above present fairly, in all material respects, the financial
position of the City of Wheat Ridge, Colorado, as of December 31,
1992, and the results of its operations for the year then ended
in conformity with generally accepted accounting principles.
Our audit was conducted for the purpose of forming an opinion on
the general purpose financial statements taken as a whole. The
comb~ning and individual fund and account group financial
statements and schedules listed in the table of contents are
presented for purposes of additional anal~sis and are not a
required part of the general purpose financ~al statements of the
Cit~ of Wheat Ridge, Colorado. Such information has been
subJected to the aud~ting procedures applied in the audit of the
general purpose financial statements and, in our o~inion, is
fairly presented in all material respects in relat~on to the
general purpose financial statements taken as a whole.
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!'\{]c,(,,), t.tlIAJlVJXJ KO+;j'i-llllb
1'>0-',) ()tV<. ""'If>
[)t:t-.'VER 1JN~_ !oN2 I)<;}N
13
40! 2-',Rf) STIlEFl', SI-ITE-',OI
Gi.I:J'OWOOL> SPRiNG". LOLOHA.LI( 1 810111-4>,O')
(30)) <Jq,)'l(,'l')
FA.X I -',0"'\ I qzH IP4()
Our audit was made for the purpose of forming an opinion on the
general ~urpose .financial statements taken as a whole. The
accompanr~ng introductory section and statistical information
listed ~n the table of contents is ~resented for purposes of
additional analrsis and is not a requ~red part of the general
purpose financ~al statements of the City of Wheat Ridge,
Colorado. Such information has not been subjected to the
auditing procedures applied in the audit of the general purpose
financial statements of the City of Wheat Ridge, Colorado, and
accordingly, we express no opinion on it.
March 5, 1993
u"~:. W~ '-~ ~ Co.p.c..
0""-"'- r 'I))
-
-
-
-
-
-
14
GENERAL PURPOSE FINANCIAL STATEMENTS
The general purpose financial statements provide a
the City's operations. These financial statements
position and operating results of all funds and
December 31, 1992.
-
...
-
-
15
financial overview of
present the financial
account groups as of
CITY OF WHEAT RIDGE, COLORADO
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
DECEMBER 31, 1992
(With comparative totals for December 31, 1991)
ASSETS AND OTHER DEBITS
ASSETS
Cash and equivalents
Investments
Accounts receivable:
State
County government
Other
Due from:
Other funds
Plan trustee
Inventory
Restricted:
Cash
Investments
Fixed assets
OTHER DEBITS
Amount available in debt
service fund
Amount to be provided for
retirement of general
long-term debt
TOTAL ASSETS
General
$ 1,308,716
1,767,355
16,390
627,771
49,404
326,482
161,158
27,409
$ 4,284,685
Governmental
Special
Revenue
$ 70,324
315,371
$ 385,695
Fund Types
Debt
Service
$ 51,768
93
299,000
$ 350,861
The accompanying notes are an integral part of this statement.
16
Capital
Project
$ 12,551
4,429,310
5,004
.....
1,260
-
.....
$ 4,448,125
Fiduciary Account Groups
Fund Type General General Totals
Trust and Fixed Long-Term (Memorandum Only)
Agency Assets Debt 1992 1991
$ 142,566 $ $ $ 1,585,925 $ 1,537,535
1,271,483 7,468,148 5,819,626
16,390
943,142 741,559
93,980 148,481 159,774
250,000 577,742 103,740
5,846,538 5,846,538 5,334,713
161,158 126,331
27,409 75,000
- 299,000 324,000
18,783,615 18,783,615 18,523,646
-
350,861 350,861 349,527
2,987,955 2,987,955 2,998,945
$ 7,604,567 $ 18,783,615 $ 3,338,816 $ 39,196,364 $ 36,094,396
-
-
-
(Continued on next page)
17
CITY OF WHEAT RIDGE, COLORADO
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
DECEMBER 31, 1992
(Continued)
(With comparative totals for December 31, 1991)
LIABILITIES, FUND EQUITY
AND OTHER CREDITS:
LIABILITIES
Accounts payable:
Trade
Restricted assets
Refundable escrow
Employees
Accrued payroll benefits
Advance contributions
Refundable escrow deposits
Due to:
Other funds
Special District
Deferred revenue:
Property taxes
Capital leases
Bonds payable
Total liabilities
General
Governmental
Special
Revenue
Capital
Project
Fund Types
Debt
Service
$
$ 13,614
10,690
53,559
500
$
$
125,993
16,401
251,260
318,780
5,304
...
567,573
-
899,983
332,394
131,297
FUND EQUITY AND OTHER CREDITS
Investment in general
fixed assets
Fund balances:
Reserved for:
Encumbrances 31,480 10,953 479,539
Capital projects 1,673,949
Debt service 350,861
Inventory 161,158
Retirement plans
Unreserved:
Designated for
subsequent years'
expenditures 3,192,064 57,619 2,163,340
Undesignated (deficit) (15,271)
Total equi ty and
other credits 3,384,702 53,301 350,861 4,316,828
TOTAL LIABILITIES,
FUND EQUITY AND
OTHER CREDITS $ 4,284,685 $ 385,695 $ 350,861 $ 4,448,125
The accompanying notes are an integral part of this statement.
18
Fiduciary
Fund Type
Trust and
Agency
Account
General
Fixed
Assets
Groups
General
Long-Term
Debt
Totals
(Memorandum Only)
1992 1991
$ $ $ $ 150,297 $ 59,412
53,559 66,178
500 500
1,075,380 1,075,380 709,459
293,295 309,696 443,284
11,293 11,293 11,293
69,950 69,950 86,394
2,398 577,742 103,740
253,739 253,739 210,904
-
567,573 568,301
55,521 55,521 81,578
.... 2,990,000 2,990,000 2,990,000
1,412,760 3,338,816 6,115,250 5,331,043
- 18,783,615 18,783,615 18,523,646
72,272 594,244 789,684
- 1,673,949 2,100,320
350,861 349,527
161,158 126,331
- 5,929,032 5,929,032 5,410,844
-
168,069
22,434
5,581,092
7,163
2,649,489
813,512
6,191,807
18,783,615
33,081,114
30,763,353
$ 7,604,567
$ 18,783,615
$ 3,338,816
$ 39,196,364
$ 36,094,396
19
CITY OF WHEAT RIDGE, COLORADO
COMBINED STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1992
(With comparative totals for December 31, 1991)
REVENUES
Taxes
Licenses and permits
Intergovernmental
Charges for services
Fines and forfeitures
Interest
Other
Total revenue
EXPENDITURES
Current:
General government
Planning and development
Police
Public works
Parks and recreation
Other
Capital outlay
Debt service:
Bond interest
Total expenditures
EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
EXCESS (DEFICIENCY) OF
REVENUES AND OTHER FINANCING
SOURCES OVER EXPENDITURES
AND OTHER FINANCING USES
Fund balances,
beginning of year
Residual equity transfer in (out)
FUND BALANCES, END OF YEAR
General
$ 6,712,572
344,309
1,409,751
291,436
250,499
111,571
159,731
9,279,869
1,277,604
541,292
3,650,264
2,061,221
1,317,226
971,375
9,818,982
(539,113)
758,700
(250,000)
(30,413)
3,415,115
$ 3,384,702
Special
Revenue
$
487,528
12,600
1,234
11,085
512,447
25,144
4,204
221,475
"V
250,823
261,624
-
(246,000)
15,624
44,924
(7,247)
$
53,301
The accompanying notes are an integral part of this statement.
20
Totals
Debt Capital Expendable (Memorandum Only)
Service Project Trust 1992 1991
$ $ 3,051,645 $ $ 9,764,217 $ 9,349,920
344,309 324,026
889 199,855 2,098,023 2,359,116
304,036 264,388
250,499 283,240
29,284 109,661 8,179 259,929 355,240
37,161 207,977 142,895
29,284 3,199,356 208,034 13,228,990 13,078,825
1,277,604 1,176,115
541,292 524,215
3,675,408 3,512,515
- 2,065,425 1,791,074
197,005 1,735,706 1,624,833
1,025 972,400 691,942
- 963,126 963,126 3,887,328
210,925 210,925 210,925
- 211,950 963,126 197 ,005 11,441,886 13,418,947
- (182,666) 2,236,230 11,029 1,787,104 (340,122)
210,910 969,610
- (26,910) (696,700) (1,219,610)
.....
1,334
1,539,530
11,029
1,537,104
(340,122)
-
349,527
2,770,051
249,246
6,828,863
7,168,985
7,247
$ 350,861
$ 4,316,828
$ 260,275
$ 8,365,967
$ 6,828,863
21
CITY OF WHEAT RIDGE, COLORADO
COMBINED STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET (NON-GAAP BASIS) ACTUAL
ALL GOVERNMENTAL FUND TYPES
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1992
General Fund
Variance
Favorable
Budget Actual (Unfavorable)
REVENUES
Taxes $ 6,407,351 $ 6,712,572 $ 305,221
Licenses and permits 270,250 344,309 74,059
Intergovernmental 1,375,000 1,409,751 34,751
Charges for services 332,216 291,436 (40,780)
Fines and forfeitures 403,600 250,499 (153,101)
Interest 125,000 111,571 (13,429)
Other 48,873 159,731 110,858
Total revenue 8,962,290 9,279,869 317,579
EXPENDITURES
Current:
General government 1,376,820 1,307,544 69,276
Planning and development 569,502 541,292 28,210
Police 3,881,182 3,644,766 236,416
Public works 2,129,212 1,997,198 132,014
Parks and recreation 1,423,356 1,313,106 110,250 I
Other 2,615,941 965,467 1,650,474
Capital outlay -
Debt service:
Bond interest
-
Total expenditures 11,996,013 9,769,373 2,226,640
EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES (3,033,723) (489,504) 2,544,219
OTHER FINANCING SOURCES
Transfers in 758,700 758,700
Transfers (out) (250,000) (250,000)
EXCESS (DEFICIENCY) OF
REVENUES AND OTHER FINANCING
SOURCES OVER EXPENDITURES AND
OTHER FINANCING USES
(BUDGETARY BASIS) $ (2,525,023) 19,196 $ 2,544,219
ADJUSTMENTS TO GAAP BASIS
Encumbrances:
Prior year paid in current
year (81,089)
Current year outstanding 31,480
Total adjustments (49,609)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND OTHER
FINANCING USES (GAAP BASIS) $ (30,413)
The accompanying notes are an integral part of this statement.
22
Special Revenue
Variance
Favorable
Budget Actual ( Unfavorable)
$ $ $
761,631 487,528 (274,103)
7,000 12,600 5,600
5,680 1,234 (4,446)
7,000 11, 085 4,085
781,311 512,447 (268,864)
24,105
16,767
1,936,240
25,144
204
84,320
(1,039)
16,563
1,851,920
1,977,112
109,668
1,867,444
( 1,195,801)
402,779
1,598,580
-
(246,000)
(246,000)
$(1,195,801)
156,779
$
1,352,580
(152,108)
10,953
-
(141,155)
-
$ 15,624
(Continued on next page)
23
CITY OF WHEAT RIDGE, COLORADO
COMBINED STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET (NON-GAAP BASIS) ACTUAL
ALL GOVERNMENTAL FUND TYPES
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1992
( Continued)
Debt Service Fund
Budget
Actual
Variance
Favorable
(Unfavorable)
REVENUES
Taxes
Licenses and permits
Intergovernmental
Charges for services
Fines and forfeitures
Interest
Other
$
$
$
5,000
29,284
24,284
Total revenue
5,000
29,284
24,284
EXPENDITURES
current;
General government
Planning and development
Police
Public works
Parks and recreation
Other
Capital outlay
Debt service:
Bond interest
5,000 1,025
210,925 210,925
215,925 211,950
(210,925) (182,666)
210,925 210,910
(26,910)
3,975
Total expenditures
3,975
EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES
-
28,259
OTHER FINANCING SOURCES
Transfers in
Transfers (out)
( 15)
(26,910)
EXCESS (DEFICIENCY) OF
REVENUES AND OTHER FINANCING
SOURCES OVER EXPENDITURES AND
OTHER FINANCING USES
(BUDGETARY BASIS)
$
1,334
$
1,334
ADJUSTMENTS TO GAAP BASIS
Encumbrances:
Prior year paid 1n current
year
Current year outstanding
Total adjustments
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND OTHER
FINANCING USES (GAAP BASIS)
$
1,334
The accompanying notes are an integral part of this statement.
24
Capital Proj ect
Variance
Favorable
Budget Actual ( Unfavorable)
$ 2,975,000 $ 3,051,645 $ 76,645
889 889
150,000 109,661 (40,339)
38,625 37,161 (1,464 )
3,163,625 3,199,356 35,731
2,847,344
856,772
1,990,572
-
2,847,344
856,772
1,990,572
-
316,281
2,342,584
2,026,303
( 696,700)
(696,700)
-
S (380,419)
1,645,884
S
2,026,303
479,539
( 585,893)
(106,354)
S 1,539,530
25
CITY OF WHEAT RIDGE, COLORADO
COMPARATIVE STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN FUND BALANCES
PENSION TRUST - POLICE PENSION FUND
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1992
(With comparative totals for December 31, 1991)
1992 1991
OPERATING REVENUES:
Contributions:
Employer $ 194,097 $ 177,233
Employee - mandatory 194,097 177,233
Employee - voluntary 16,127 14,032
Total operating revenues 404,321 368,498
OPERATING EXPENSES:
Benefit payments 241,196 491,194
Administrative charges 37,894 35,373
Total operating expenses 279,090 526,567
OPERATING INCOME (LOSS) 125,231 (158,069)
NONOPERATING INCOME
Interest 358,075 372,677
Securities gain (loss) 34,881 312,661
Total nonoperating income 392,956 685,338
NET INCOME 518,187 527,269
Fund balance, beginning of year 5,410,845 4,883,576
FUND BALANCE, END OF YEAR $ 5,929,032 $ 5,410,845
The accompanying notes are an integral part of this statement.
26
CITY OF
WHEAT RIDGE, COLORADO
NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1992
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accounting policies of the City of Wheat Ridge, Colorado, (The
City), conform to generally accepted accounting principles as
applicable to governments. The following is a summary of the more
significant policies consistently applied in the preparation of
the financial statements.
A. Principles used in determining the scope of the reporting
entity for financial purposes.
In conformity with Governmental Accounting and Financial
Reporting Standards, the City of Wheat Ridge, Colorado, is the
reporting entity for financial reporting purposes. The City is
a "Home Rule City" (a municipal corporation), as defined by
Colorado Revised Statutes. The City is the lowest level of
government having oversight responsibility and control over all
activities within the geographical area organized as the City
of Wheat Ridge, Colorado. The City is not included in any other
governmental reporting entity because the City Council and
certain officials are publicly elected, they are empowered to
adopt a budget, to expend City revenues, select management,
significantly influence operations and are primarily
accountable for fiscal matters. The financial statements of the
City include all funds and account groups that are controlled
by or dependent upon the elected officials. Control by or
dependence on the elected officials is determined on the basis
of budget adoption, taxing authority, outstanding debt which
may be secured by general obligation of the City, and the
responsibility of the City to finance debt or make subsidies to
funds and account groups. All funds and the account groups
included in this report were included in last year's report
except for the Compensated Absences Fund, an agency fund, which
was created in 1992. The Conservation Trust Fund was classified
as a special revenue fund in the prior year, but is reported as
a trust fund in the current year.
The following governmental units are excluded from the
financial statements of the City because each has an
independently elected board of directors with separate taxing
authority and accountability for financial matters:
Jefferson County
Jefferson County School District R-1
Valley Water District
westridge Sanitation District
Wheat Ridge Economic Development and Revitalization
Commission
Bellaire Sanitation District
Fruitdale Sanitation District
27
CITY OF WHEAT RIDGE, COLORADO
NOTES TO THE FINANCIAL STATEMENTS
North West Lakewood Sanitation District
Urban Drainage and Flood Control District
Wheat Ridge Fire Protection
Wheat Ridge Sanitation District
B. Fund accounting
The accounts of the City are organized on the basis of funds
and account groups, each of which is considered a separate
accounting entity. The operations of each fund are accounted
for with a separate set of self-balancing accounts that
comprise its assets, liabilities, fund equity, revenue, and
expenditures, or expenses, as accounted for in individual funds
based upon the purposes for which they are to be spent and the
means by which spending activities are controlled. The various
funds are grouped in the financial statements in this report,
into eight generic fund types and two broad fund categories as
follows:
Governmental funds:
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.
-
Special revenue funds - account for the proceeds of specific
revenue sources that are legally restricted to expenditures
for specific purposes. The City has six special revenue
funds.
Debt Service fund - account for the accumulation of resources
for, and payment of general long-term debt principal,
interest and related costs.
Capital pro;ect fund -
for the acquisition
facilities (other than
account for financial resources used
or construction of major capital
those financed by proprietary funds).
_I
Fiduciary funds:
Fiduciary funds account for assets held by the City in a
trustee capacity, the City has one pension fund, an
expendable trust fund and five agency funds. Pension funds
are accounted for in essentially the same manner as a
proprietary fund, that its operations are financed and
operated in a manner similar to a private business
enterprise, since capital maintenance is critical. Agency
funds are generally used to account for assets that the City
holds on behalf of others as their agent.
C. Basis of accounting
The accounting and financial reporting treatment applied to a
fund is determined by its measurement focus. All governmental
funds are accounted for using a current financial resources
measurement focus. with this measurement focus, only current
assets and current liabilities generally are included on the
28
CITY OF WHEAT RIDGE, COLORADO
NOTES TO THE FINANCIAL STATEMENTS
balance sheet.
increases (i.e.,
decreases (i.e.,
current assets.
Operating statements of these funds present
revenues and other financing sources) and
expenditures and other financing uses) in net
The modified accrual basis of accounting is used by all
governmental fund types. Under the modified accrual basis of
accounting, revenues are recognized when susceptible to accrual
(i.e., when they become measurable and available). "Measurable"
means the amount of the transaction can be determined and
"available" means collectible within the current period or soon
enough thereafter to pay liabilities of the current period. A
sixty day availability period is used for revenue recognition
for all governmental fund revenue. Expenditures are recorded
when the related fund liability is incurred.
All pension trust funds are accounted for on a flow of economic
resources measurement focus. with this measurement focus, all
assets and all liabilities associated with the operation of
these funds are included on the balance sheet.
-
Those revenues susceptible to accrual are franchise fees,
property, sales, road and bridge, cigarette and highway users
taxes. Fines and permit revenues are not susceptible to accrual
because generally they are not measurable until received in
cash.
-
The accrual basis of accounting is utilized by pension trust
funds. Under this method, revenues are recorded when earned and
expenses are recorded at the time liabilities are incurred.
-
The City reports deferred revenue on its combined balance
sheet. Deferred revenues arise when a potential revenue does
not meet both the "measurable" and "available" criteria for
recognition in the current period. In subsequent periods, when
both revenue recognition criteria are met, or when the
government has a legal claim to the resources, the liability
for deferred revenue is removed from the combined balance sheet
and revenue is recognized.
-
-
D. Budgets
-
The budget of the debt service fund is adopted on a basis
consistent with generally accepted accounting principles, all
other fund budgets are adopted on a Non-GAAP basis,
encumbrances are recognized as expenditures. Annual
appropriated budgets are adopted for all funds, except the
fiduciary, trust and agency funds. All annual appropriations
lapse at fiscal year end.
Encumbrances present commitments related to unperformed
contracts for goods or service. Encumbrance accounting, under
which purchase orders, contract and other commitments for the
expenditure of resources are recorded to reserve that portion
of the applicable appropriations, is utilized in the
governmental funds and the expendable trust fund. Encumbrances
outstanding at year end are reported as reservations of fund
29
CITY OF WHEAT RIDGE, COLORADO
NOTES TO THE FINANCIAL STATEMENTS
balances and do not constitute expenditures or liabilities
because the commitments will be honored during the subsequent
year.
E. Cash, and cash equivalents, restricted cash and investments
Cash and cash equivalents include cash on hand and demand
deposits with a maturity of three months or less. Investments
include amounts on deposit with an investment pool and held by
trustees of the pension funds. Investment pool amounts are
stated at cost, investments of the pension plan and the IRC
Code Section 457 deferred compensation plan are stated at
market.
General fund cash has been restricted by City Council for
emergency situations affecting the lives and property of the
City's citizens. Expenditures must be approved in advance by
the City Council, or in situations where members of Council
cannot be contacted, the Mayor and the City Administrator can
approve expenditures, subject to a report to City Council. Debt
service fund cash is restricted for the repayment of bonded
debt of the City.
F. Property taxes
Property taxes are levied on December 15 of each year and
attach as an enforceable lien on property as of January 1.
Taxes are due as of January 1 of the following year and are
payable in full by April 30, or if paid in installments on
February 28 and June 30. Taxes are delinquent as of August 1.
If the taxes are not paid within subsequent statutory periods,
the property will be sold at public auction. The County bills
and collects the property taxes and remits collections to the
City on a monthly basis.
G. Short-term interfund receivables\payables
During the course of operations, numerous transactions occur
between individual funds. These receivables and payables are
classified as "due from" or "due to" other funds on the balance
sheet.
H. Inventory
Inventory is valued at cost, which approximates market, using
the first-in\first-out (FIFO) method. The cost of the general
fund inventories are recorded as expenditures when consumed
rather than when purchased.
I. General fixed assets
General fixed assets are not capitalized in the funds used to
acquire or construct them. Instead, capital acquisition and
construction are reflected as expenditures in governmental
funds, and related assets are in the general fixed assets
account group. All purchased fixed assets are valued at cost
where historical records are available and at an estimated
30
CITY OF WHEAT RIDGE, COLORADO
NOTES TO THE FINANCIAL STATEMENTS
historical cost where no historical records exist. Donated
fixed assets are valued at their estimated fair value on the
date received. Public domain ("infrastructure") general fixed
assets consisting of roads, bridges, curbs and gutters, streets
and sidewalks, drainage systems and lighting systems are not
capitalized, as these assets are immovable and of value only to
the government. Assets in the general fixed assets account
group are not depreciated.
Land improvements transferred to the City from Jefferson County
from 1969 to 1977 had been recorded at the County's cost.
Subsequently the City elected to discontinue recording the cost
of all land improvements.
The Jefferson County, Colorado Open Space Programs acquires
land for public enjoyment (e.g. parks, playgrounds, lakes,
etc.) and then donates the property to the City for use as
public land. The property is recorded at the cost recorded by
the Open Space Program. City expenditures for this program are
reimbursed by Jefferson County.
J. Compensated absences
-
Vested or accumulated sick leave that is expected to be
liquidated with expendable available financial resources, or
whose current portion is not determinable, are reported in the
general fund. No liability is recorded for nonvesting
accumulating rights to receive sick pay benefits.
Amounts of vested or accumulated holiday and vacation leave
that are not expected to be liquidated with expendable
available financial resources are reported in the general long-
term debt account group. No expenditures are reported for these
amounts.
-
K. Accrued salaries and wages
The accrued salaries and benefits result from timing
differences between the time when employees are paid and the
end of the calendar year. The total accrued salaries and
benefits are paid during the first pay period in the following
year. The entire liability will be liquidated with expendable
available resources and is reported in the general fund.
L. Long-term obligations
Long-term debt of a governmental fund is reported in the
general long-term debt account group.
M. Fund equity
Reserves represent those portions of fund equity not
appropriated for expenditures or legally segregated for a
specific future use. Designated fund balances represent
tentative plans for future use of financial resources, based
upon budgeted cash (fund balance) carryover. The Ci ty
designates a portion of unreserved fund balances in an amount
31
CITY OF WHEAT RIDGE, COLORADO
NOTES TO THE FINANCIAL STATEMENTS
equal to the budgeted individual carryover fund balance based
upon the City's budget for the subsequent calendar year.
Encumbrances outstanding and inventories, at year end, are
reserved, and do not constitute expenditures or liabilities.
The fund balance of the debt service and pension fund are
reserved because the balances are legally restricted to provide
for the future payments (bonded debt and retirement benefits).
N. Interfund transactions
Quasi-external transactions are accounted for as revenues,
expenditures or expenses. Transactions that constitute
reimbursements to a fund for expenditures/expenses initially
made from it that are properly applicable to another fund, are
recorded as expenditures/expenses in the reimbursing fund and
as reductions of expenditures/expenses in the fund that is
reimbursed. All other inter fund transactions, except quasi-
external transactions and reimbursements, are reported as
transfers. Nonrecurring or non-routine permanent transfers to
equity are reported as residual equity transfers. All other
interfund transfers are reported as operating transfers.
_I
O. Memorandum only - total columns
Total columns on the general purpose financial statements are
captioned "memorandum only" to indicate that they are presented
only to facilitate analysis. Data in these columns do not
present financial position, results of operations or changes in
financial position in conformity with generally accepted
accounting principles. Neither are such data comparable to a
consolidation. Interfund eliminations have not been made in the
aggregation of this data.
P. Comparative data
Comparative total data for the prior year have been presented
in the accompanying financial statements in order to provide an
understanding of changes in the City's financial position and
operations.
Comparative data in the supplemental information, special
revenue and fiduciary funds, has been restated to reflect the
reporting of the Conservation Trust Fund as an expendable trust
fund, it was formerly reported as a special revenue fund.
2. LEGAL COMPLIANCE - BUDGETS
A. General budget policies
The City conforms to the following procedures,
with Colorado Revised statutes, in establishing
data reflected in the financial statements:
in compliance
the budgetary
Prior to October 15, the City Administrator (an appointed
official) submits a proposed operating budget for the fiscal
32
CITY OF WHEAT RIDGE, COLORADO
NOTES TO THE FINANCIAL STATEMENTS
year commencing the following January 1, to the City Council
(elected officials). The operating budget, for all funds,
includes proposed expenditures and the means of financing
them. No budgets are prepared for the pension and agency
funds which are custodial in nature.
Public hearings are held at the regular City council meetings
to obtain taxpayer input. Prior to December 15, the budget is
legally enacted through passage of a budget resolution. The
City Council must approve revisions that change total
expenditures or transfers as to any fund. The City
Administrator is authorized to transfer amounts within an
individual fund.
In addition to the operating budget, a five year capital
improvement program is proposed by the City Administrator and
adopted by City Council. This program identifies projected
expenditures and anticipated revenues by fund. The program is
revised and extended annually. The City Council adopts the
program as a planning document but does not appropriate the
multi-year expenditures. Annual installments to the identified
projects are appropriated in the annual operating budgets or by
supplemental appropriations.
Appropriations are controlled by encumbrance accounting and the
budget is only amended in conformity with Colorado Revised
Statutes, which require a resolution approved by City Council
amending the budget and a resolution appropriating funds for
expenditure. The City Charter requires a balanced budget.
-
The Police Investigation Fund over expended budget which may be
a violation of state statute.
B. Budget basis of accounting
-
The Individual and Combined Statements of Revenues,
Expenditures and Changes in Fund Balances for the governmental
fund types include comparisons to budget. The budgets are
adopted on a GAAP basis, except as previously noted. Budgetary
amounts, included in the financial statements, are as
originally adopted or as amended by City Council.
3 . ASSETS
A. Cash and deposits
The Colorado Public Deposit Protection Act, (PDPA) requires
that all units of local government deposit cash in eligible
public depositories, eligibility is determined by state
regulators. Amounts on deposit in excess of federal insurance
levels must be collateralized. The eligible collateral is
determined by the PDPA. PDPA allows the institution to create a
single collateral pool for all public funds. The pool is to be
maintained by another institution, or held in trust for all the
uninsured public deposits as a group. The market value of the
collateral must be at least equal to the aggregate uninsured
deposits.
33
CITY OF WHEAT RIDGE, COLORADO
NOTES TO THE FINANCIAL STATEMENTS
Deposits are categorized to give an indication of risk assumed
by the government at the end of the year. Category 1 includes
deposits that are insured, Category 2 includes collateralized
deposits held by the pledging institution's trust department or
agent in then City's name, Category 3 includes
uncollateralized, uninsured deposits. At December 31, 1992, the
City deposits are categorized as follows:
Bank Carrying
Balance Balance
Petty cash $ $ 1,553
Categorized deposits:
Deposits covered by federal
insurance - Category 1 379,549 379,549
Deposits collateralized in a
single institution pool(s)
- Category 2 1.597.166 1.232.232
Total S 1.976.715 S 1,613,334
B. Investments
Colorado
defined
entities
statutes specify investment instruments, meeting
rating and risk criteria, in which local government
may invest.
Obligations of the United States and certain agencies
thereof,
certain international agency securities,
general obligation and revenue bonds of United states local
government entities,
bankers acceptances of certain banks,
commercial paper,
local government investment pools
written repurchase agreements collateralized by certain
authorized securities,
certain money market funds,
guaranteed investment contracts.
The City's investments
indication of the level of
City investments, except
Category 2.
are categorized below to give
credit risk assumed by the City.
amounts in investment pools,
an
All
are
The allowed categories include local government investment
pools. The City invests in three such investment pools, The
Colorado Government Liquid Asset Trust (COLOTRUST), ICMA
Retirement Trust (ICMA) and Colorado surplus Asset Fund Trust
(C-SAFE). Investments in the pools are not categorized because
the investments are not evidenced by securities that exist in
physical or book entry form. Cost and market are essentially
equivalent.
As of December 31, 1992, the City's investments are categorized
as follows:
34
CITY OF WHEAT RIDGE, COLORADO
NOTES TO THE FINANCIAL STATEMENTS
Category 2 - obligations of the united
States government
Investment pools:
COLOTRUST
ICMA
C-SAFE
$ 2,160,477
1,805,000
825,380
2.976.291
S 7.767.148
C. Restricted cash and investments:
Included in the preceding categorization of cash, cash
equivalents and investments are restricted cash and investments
which is composed of the following amounts:
Debt service repayment
Court bond
Sales tax set aside
Richard\Hart estate
Drug abuse
Recreation
Total
$ 299,000
11,453
9,000
4,899
1,056
1.001
S 326.409
The debt service repayment restriction represents 10% of the
original principal balance due of $ 2,990,000 as required by
the terms of the bond issue.
D. Receivables
Receivables at December 31, 1992 consist of the following:
Specia,l Capital
General Revenue proiect Fiduciarv
-
State $ 16,390 $ $ $
Jefferson
County 627,771 315,371
Other 49.404 5.004 78.739
Total S 693.565 S 315.371 S 5.004 S 78,739
Amounts due from Jefferson County include taxes collected and
amounts due from Jefferson County Open Space Program. City Open
Space expenditures in the amount of $ 315,371 had not been
reimbursed by the County as of December 31, 1992. The above
amounts are deemed fully collectible, accordingly no provision
has been made for bad debts.
It is the policy of the City to record the property tax
receivable in the year in which the taxes are levied and to
recognize the property tax revenues in the year in which the
lien attaches to the property. Property taxes are reported in
the General Fund as a receivable and a deferred revenue in the
amount of $ 567,573.
35
CITY OF WHEAT RIDGE, COLORADO
NOTES TO THE FINANCIAL STATEMENTS
E. Changes in general fixed assets
The changes in general fixed assets for the year ended December
31, 1992 are as follows:
Balance Balance
January 1, December 31,
1992 Additions Deletions 1992
Land $ 2,448,290 $ 29,960 $ $ 2,478,250
Buildings 3,011,262 3,011,262
Streets 9,117,469 9,117,469
Equipment 3,946,625 230,009 4,176,634
Total S 18,523,646 S 259,969 S S 18,783,615
4. LIABILITIES
A. Compensated absences
As of December 31, 1992, accrued sick pay in the amount of
$ 16,401 was recorded in the general fund which will ultimately
liquidate the liability.
As of December 31, 1992, accrued holiday and vacation pay in
the amount of $ 293,295 was recorded in the long-term debt
account group, the liability is not expected to be liquidated
with expendable available financial resources.
B. General obligation revenue bonds
General obligation revenue bonds are direct obligations and
pledge the full faith and credit of the City. General
obligation bonds outstanding had a principal balance of
$ 2,990,000, with an interest rate of 7.06%. Annual debt
service requirements to maturity for the bonds including
interest of 1,276,735 follows:
- I
Fiscal year
ending
December 31,
1993
1994
1995
1996
1997
Thereafter
Total
Total
$ 210,925
210,925
210,925
210,925
210,925
3,212,110
S 4,266,735
C. Capital leases
The City has entered into several lease agreements for
financing the acquisition of equipment including copiers and
telecommunications equipment. These lease agreements qualify as
capital leases for accounting purposes (titles transfer at the
end of the lease terms) and, therefore, have been recorded at
36
CITY OF WHEAT RIDGE, COLORADO
NOTES TO THE FINANCIAL STATEMENTS
the present value of the future minimum lease payments as the
date of their inception. The following is a schedule of the
future minimum lease payments under these capital leases, and
the net present value of the net minimum lease payments at
December 31, 1992, as recorded in the general long-term account
group:
Fiscal year
ending
December 31.
1993
1994
1995
$
33,468
27,492
4.672
65,632
10.111
Total minimum lease payments
Less: amount representing interest
Present value of future
minimum lease payments
s
55,521
D. Changes in general long-term liabilities
During the year ended December 31, 1992, the following changes
occurred in liabilities reported in the general long-term debt
account group:
Balance Balance
Januarv 1, Additions Reductions December 3L
Compensated
absence $ 276,894 $ 16,401 $ $ 293,295
Bonds
- payable 2,990,000 2,990,000
Capital
Lease 81. 579 26,058 55,521
-
TOTAL S 3,348,473 S 16,401 S 26,058 S 3,338,816
- E. Special Assessment Bonds
Special assessment bonds, issued June 1, 1988, interest at
7.50%, principal balance due December 31, 1992, $ 720,000. The
City is not obligated within the meaning of any constitutional
or statutory limitation or provision.
The City only acts as agent for the property owners and bond
holders, the County collects the assessments, forwards
collections to the bondholders and initiates foreclosure
procedures.
5. INTERFUND ASSETS/LIABILITIES
A summary of interfund receivables and payables is as follows:
37
CITY OF WHEAT RIDGE, COLORADO
NOTES TO THE FINANCIAL STATEMENTS
Fund Receivable Payable
General $ 326,482 $ 251,260
Special Revenue:
Open Space 318,780
Capital Project 1,260 5,304
Fiduciary:
Conservation Trust 2,273
Public Words Escrow 124
Compensated Absences 250,000
CATV Property Damage 1
Total S 577.742 S 577.742
6. INTERFUND TRANSFERS
A summary of interfund transfers is as follows:
Transfer Transfer
Fund Out In
General $ 250,000 $ 758,700
Special Revenue:
Open Space 24.6,000
Debt Service 26,910 210,910
Capital Project 696.700
Subtotal 1,219,610 969,610
Fiduciary:
Compensated Absences 250.000
Total S 1,219.610 S 1. 219.610
7. CONTINGENT LIABILITIES
The City is a defendant in various lawsuits. Although the outcome
of these lawsuits is not presently determinable, in the opinion of
the City Attorney the resolution of these matters will not have an
materially adverse effect on the financial condition of the City.
8. EMPLOYEE RETIREMENT SYSTEMS
A. Police Pension Plan
Plan description and provisions:
All full time sworn City police officers are covered by the
plan (Police Pension Plan), a single employer defined
contribution money purchase plan. The payroll for employees,
covered by this Plan, for the year ended December 31, 1992 was
$ 2,298,616; the City's total payroll was $ 5,867,970. There
are 56 employees participating in this plan.
Employee contributions are fully vested when paid. Employees
and the City each contribute 10% of the employees' annual
salary, employees may increase their contribution to 15%. City
contributions and Plan income vest at 40%, 45%, and 50% during
the fourth through sixth years respectively and thereafter at
the rate of 10% per year.
38
CITY OF WHEAT RIDGE, COLORADO
NOTES TO THE FINANCIAL STATEMENTS
Contributions required and contributions made:
During the year ended December 31, 1992, contributions
totaling $ 194,097 City and $ 210,225 employees - were made in
accordance with the provisions of the Plan. Current membership
in the Plan is comprised of the following:
Group
Retirees and beneficiaries currently
receiving benefits
Vested terminated employees
Active employees:
Fully vested
Nonvested
December 31,
1992
27
29
Eligibility for benefits may commence at age 55, or upon
completion of 25 years of service.
B. Colorado County Officials and Employees Retirement Association
Plan description and provisions:
-
Employees and officers of the City are required to join the
plan (CCOERA), a statewide local government multi-employer
defined contribution plan. The plan covers all City employees,
excepting those that have chosen to join the IRC Code Section
457 Plan. The payroll for employees, covered by this Plan, for
the year ended December 31, 1992 was $ 2,818,294 the City's
total payroll was $ 5,867,970. There are 96 employees
participating in this plan.
-
-
Employee contributions are fully vested when paid. Employees
and the City each contribute 4% of the employees' annual
salary. City contributions and Plan income vest at 10% per
year. In the event of City withdrawal from CCOERA all
participants would vest at 100% of all contributions and
income.
Contributions required and contributions made:
During the year ended December 31, 1992, contributions
totaling $ 105,159 City and $ 117,591 employees - were made in
accordance with the provisions of the Plan; those contributions
represented 3.73% and 4.17% of covered payroll respectively.
Current membership in the CCOERA is comprised of the following:
Group
December 31,
1992
Retirees and beneficiaries currently
receiving benefits
Vested terminated employees
Active employees:
Fully vested
Nonvested
32
64
39
CITY OF WHEAT RIDGE, COLORADO
NOTES TO THE FINANCIAL STATEMENTS
Benefit payments are determined as of the date of retirement,
termination, death or disability.
C. Retirement Plan, Internal Revenue Code Section 457
Plan description and provisions:
Employees not joining CCOERA, may as an alternative,
participate in an IRC Section 457 Plan. The payroll for
employees, covered by this Plan, for the year ended December
31, 1992 was $ 263,310 the City's total payroll was
$ 5,867,970. There are 4 employees participating in this plan
on a mandatory basis.
Employee and City contributions are fully vested upon
termination, retirement, death or disability. Employees and the
City are required to contribute 4% or 5% of the employees
annual salary. Other City employees are contributing on a
voluntary basis, these contributions are not matched by the
City.
IRC-457 requires that the assets of the plan remain the
property of the City until paid or made available to the
participants, subject only to the claims of the City's general
credi tors, until paid or made available to the participating
employees. In addition the City has fiduciary responsibility
for the assets of the plan which are managed by an independent
trustee.
Contributions required and contributions made:
During the year ended December 31, 1992, contributions
totaling $ 10,463 City and $ 10,968 employees - were made in
accordance with the provisions of the Plan; these contributions
represented 3.97% and 4.17% of covered payroll respectively.
9. JOINT VENTURES
A. Insurance pools
_I
Pursuant to an interlocal agreement authorized by state
statute, the City joined the Colorado Intergovernmental Risk
Sharing Agency (CIRSA) to provide insurance coverage. Members
of the board of directors are nominated and elected by members
to two year, staggered terms and meet at least monthly to
direct operations. CIRSA budgets are funded by contributions
from member governments. The City's share of assets,
liabilities and fund equity as of December 31, 1991 is as
follows:
%
Pool A - general liability
Loss fund
Federal Acts/Out-of-State
Reserve fund
.0271 716
.0282114
.0268068
40
CITY OF WHEAT RIDGE, COLORADO
NOTES TO THE FINANCIAL STATEMENTS
Pool B - worker's compensation
Operating
Loss fund
Mandatory surplus
.0545143
.0440168
.0587185
Summary financial information is as
follows:
Pool A Pool B
Cash and investments $ 17,546,488 $ 3,270,664
Other assets 769,898 91,271
$ 18,316,386 $ 3,361, 935
Liabilities $ 10,933,602 $ 3,259,181
Members fund balance 7,382,784 102,754
S 18,316,386 S 3,361, 935
Total revenue $ 7,362,292 $ 3,565,670
Total expenses 6,252,464 3,876,639
Change in accounting for
reserves 118,000
Excess of revenue over
expenses S 1,109,828 $ (192,969)
10. DEFICIT FUND BALANCE
-
As of December 31, 1992 the Open Space Fund had a deficit fund
balance of $ 14,300.
41
SUPPLEMENTAL INFORMATION - COMBINING,
INDNIDUAL FUND, AND ACCOUNT GROUP
FINANCIAL STATEMENTS AND SCHEDULES
The following combining, individual fund, and account group financial
statements and schedules are presented for purposes of additional
analysis and are not a required part of the general purpose financial
statements of the City.
- I
42
GENERAL FUND
The General Fund accounts for all transactions of the City not required
to be accounted for in other funds. This fund represents an accounting
for the City's ordinary operations financed primarily from property and
sales taxes. It is the most significant fund in relation to the City's
overall operations.
-
....
43
CITY OF WHEAT RIDGE, COLORADO
GENERAL FUND
COMPARATIVE BALANCE SHEETS
DECEMBER 31, 1992 AND 1991
ASSETS
Cash and equivalents
Investments
Accounts receivable:
State
County government
Other
Due from other funds
Inventory
Restricted assets:
Cash
Investments
TOTAL ASSETS
LIABILITIES AND FUND BALANCES
LIABILITIES
Accounts payable:
Trade
Restricted assets
Refundable escrow
Accrued payroll benefits
Due to:
Other funds
Deferred revenue:
Property tax
Total liabilities
FUND BALANCES
Reserved for:
Encumbrances
Inventory
Unreserved
Designated for subsequent
years' expenditures
Undesignated
Total fund balances
TOTAL LIABILITIES AND
FUND BALANCES
1992
$ 1,308,716
1,767,355
16,390
627,771
49,404
326,482
161,158
27,409
$ 4,284,685
$
10,690
53,559
500
16,401
251,260
567,573
899,983
31,480
161,158
3,192,064
3,384,702
$ 4,284,685
44
1991
$ 1,068,065
2,186,651
632,514
42,865
103,739
126,331
75,000
25,000
$ 4,260,165
......
$
43,681
66,178
500
166,390
568,301
845,050
81,089
126,331
2,525,023
682,672
3,415,115
$ 4,260,165
CITY OF WHEAT RIDGE, COLORADO
GENERAL FUND
COMPARATIVE STATEMENTS OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCES
FOR THE FISCAL YEARS ENDED DECEMBER 31, 1992 AND 1991
REVENUES
Taxes
Licenses and permits
Intergovernmental
Charges for services
Fines and forfeitures
Interest
Other
....
Total revenue
....
EXPENDITURES
Current:
General government
Planning and development
Police
Public works
Parks and recreation
Other
-
Total expenditures
-
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
-
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND OTHER
FINANCING USES
-
Fund balances, beginning of year
FUND BALANCES, END OF YEAR
1992 1991
$ 6,712,572
344,309
1,409,751
291,436
250,499
111,571
159,731
9,279,869
1,277,604
541,292
3,650,264
2,061,221
1,317,226
971,375
9,818,982
(539,113)
758,700
(250,000)
(30,413)
3,415,115
$ 3,384,702
45
$ 6,463,943
324,026
1,415,407
262,588
283,240
132,869
119,633
9,001,706
1,176,115
524,215
3,490,724
1,785,849
1,245,438
691,387
8,913,728
87,978
786,362
874,340
2,540,775
$ 3,415,115
CITY OF WHEAT RIDGE, COLORADO
GENERAL FUND
SCHEDULE OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET (NON-GAAP) AND ACTUAL
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1992
(With comparative actuals for December 31, 1991)
Variance
Favorable
REVENUES Budget Actual ( Unfavorable) 1991
Taxes $ 6,407,351 $ 6,712,572 $ 305,221 $ 6,463,943
Licenses and permits 270,250 344,309 74,059 324,026
Intergovernmental 1,375,000 1,409,751 34,751 1,415,407
Charges for services 332,216 291,436 (40,780) 262,588
Fines and forfeitures 403,600 250,499 (153,101) 283,240
Interest 125,000 111,571 ( 13,(29) 132,869
Other 48,873 159,731 110,858 119,633
Total revenue 8,962,290 9,279,869 317,579 9,001. 706
EXPENDITURES
Current:
General government 1,376,820 1,307,544 69,276 1,176,115
Planning and development 569,502 541,292 28,210 524,215
Police 3,881,182 3,644,766 236,416 3,496,221
Public works 2,129,212 1,997,198 132,014 1,848,785
Parks and recreation 1,423,356 1,313,106 110,250 1,249,776
Other 2,615,941 965,467 1,650,474 697,295
Total expenditures 11,996,013 9,769,373 2,226,640 8,992,407
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (3,033,723) (489,504) 2,544,219 9,299
OTHER FINANCING SOURCES (USES)
Transfers in 758,700 758,700 786,362
Transfers (out) (250,000) (250,000)
....
-
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND OTHER
FINANCING USES (BUDGETARY
BASIS $ (2,525,023)
19,196
$ 2,544,219
795,661
ADJUSTMENTS TO GAAP BASIS
Encumbrances:
Prior year paid in current year
Current year outstanding
-
(81,089)
31,480
(2,151)
80,830
Total adjustments
(49,609)
78,679
EXCESS (DEFICIEJlCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND OTHER
FINANCING USES (GAAP BASIS)
(30,413)
874,340
Fund balances, beginning of year
3,415,115
2,540,775
FUND BALANCES, END OF YEAR
$ 3,384,702
S 3,415,115
46
,-
SPECIAL REVENUE FUNDS
Special Revenue funds account for the proceeds of specific
sources that are legally restricted to expenditures for
purposes. The City has six special revenue funds:
revenue
specific
Capital Improvement fund - was established to account for the funds
received as a result of a one percent increase in the City's sales
tax. The fund was closed in 1992, the fund balance was transferred
to the Capital Project Fund.
Open Space fund - the City along with Jefferson County and adjacent
Colorado city's have agreed to jointly develop "open space". The
City is reimbursed, by the County, for certain expenditures incurred
in this regard.
-
.Senior Center fund accounts for contributions, and related
expenditures, made to the Wheat Ridge Community Center.
-
Park Acquisition fund - accounts
for use in the acquisition
improvements.
for revenues received and designated
of additional parks and related
-
Building Demolition fund - is a revolving fund that charges property
owners for City expenses incurred in the demolition of buildings.
-
Police Investigation fund - accounts for assets seized by the Wheat
Ridge police department.
-
-
-
47
CITY OF WHEAT RIDGE, COLORADO
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEETS
DECEMBER 31, 1992
(With comparative totals for December 31, 1991)
Open
Space
Police
Investigation
ASSETS
Cash and equivalents
Accounts receivable:
County government
$
2,497
$
27,783
315,371
Total assets
$
317,868
$
27,783
LIABILITIES AND FUND EQUITY
LIABILITIES
Accounts payable
Due to other funds
- I
$
13,388
318,780
$
Total liabilities
332,168
FUND EQUITY
Fund balances:
Reserved for encumbrances
Unreserved:
Designated for subsequent
years' expenditures
Undesignated (deficit)
10,953
--
(25,253)
18,656
9,127
Total fund equity
(14,300)
27,783
TOTAL LIABILITIES
AND FUND EQUITY
$
317,868
$
27,783
- I
~
48
Park
Acquisition
Building
Demolition
Senior
Center
Total
1992
1991
$
14,710
$
16,242
$ 9,092
$
70,324
$
40,425
315,371
109,045
$
14,710
$
16,242
$ 9,092
$ 385,695
$ 149,470
$ $ $ 226 $ 13,614 $ 13,307
- 318,780 98,486
226 332,394 111,793
...
10,953
-
13,855 16,242 8,866 57,619 11,943
855 (15,271) 25,734
14,710 16,242 8,866 53,301 37,677
-
$ 14,710 $ 16,242 $ 9,092 $ 385,695 $ 149,470
-
-
-
...
49
CITY OF WHEAT RIDGE, COLORADO
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1992
(With comparative totals for December 31, 1991)
Open
Space
Capital
Improvement
REVENUES
Intergovernmental
Charges for services
Interest
Other
$ 447,699
$
Total revenues
447,699
EXPENDITURES
Police
Public works
Parks and recreation
215,667
Total expenditures
215,667
EXCESS OF REVENUE OVER
EXPENDITURES
232,032
OTHER FINANCING (USES)
Operating transfers (out)
(246,000)
EXCESS (DEFICIENCY) OF REVENUE
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND OTHER
FINANCING USES
(13,968)
Fund balance, beginning of year
( 332)
7,247
Residual equity transfer (out)
(7,247)
FUND BALANCE (DEFICIT), END OF YEAR $ (14,300)
$
50
Police
Investigation
$
39,829
253
40,082
25,144
25,144
-
14,938
14,938
12,845
$
27,783
Park Building Senior Total
Acquisition Demolition Center 1992 1991
$ $ $ $ 487,528 $ 480,634
12,600 12,600 1,800
236 503 242 1,234 1,870
4,000 7,085 11,085 7,847
12,836 4,503 7,327 512,447 492,151
25,144 21,791
4,204 4,204 5,225
5,808 221,475 277,742
4,204 5,808 250,823 304,758
12,836 299 1,519 261,624 187,393
(246,000) (246,362)
-
12,836
299
1,519
15,624
(58,969)
-
1,874
15,943
7,347
44,924
103,893
(7,247)
$
14,710
$
16,242
$
8,866
$ 53,301
$
44,924
51
CITY OF WHEAT RIDGE, COLORADO
SPECIAL REVENUE FUNDS
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET (NON-GAAP) AND ACTUAL
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1992
Open Space
Budget
Actual
Variance
Favorable
(Unfavorable)
REVENUES
Intergovernmental
Charges for services
Interest
Other
$
746,631
$
447,699
$
(298,932)
Total revenues
746,631
447,699
(298,932)
EXPENDITURES
Police
Public works
Parks and recreation
1,902,182
78,512
1,823,670
Total expenditures
1,902,182
78,512
1,823,670
EXCESS (DEFICIENCY) OF REVENUE
OVER EXPENDITURES
(1,155,551)
369,187
1,524,738
OTHER FINANCING SOURCES (USES)
Operating transfers (out)
(246,000)
(246,000)
EXCESS (DEFICIENCY) OF REVENUE
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND OTHER
FINANCING USES (BUDGETARY
BASIS)
-
$ (1,155,551)
123,187
$
1,278,738
ADJUSTMENTS TO GAAP BASIS
Encumbrances:
Prior year paid in current
year
Current year outstanding
....
(148,108)
10,953
-
Total adjustments
(137,155)
EXCESS (DEFICIENCY) OF REVENUE
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND OTHER
FINANCING USES (GAAP BASIS)
(13,968)
Fund balance, beginning of year
(332)
Residual equity transfer (out)
FUND BALANCE, END OF YEAR
$
(14,300)
52
Capital Improvement
Budget
$
-
-
-
-
$
-
-
-
Actual
$
7,247
(7,247)
$
Variance
Favorable
(Unfavorable)
$
$
Police Investigation
Variance
Favorable
Budget Actual (Unfavorable)
$ 15,000 $ 39.829 $ 24,829
530 253 (277)
15,530 40,082 24,552
24,105 25,144 (1,039 )
24,105
25,144
(1,039)
{8.575l
23,513
14,938
$ {8,57Sl
$
23,513
14,938
14,938
12,845
$ 27,783
(continued on next page)
53
CITY OF WHEAT RIDGE, COLORADO
SPECIAL REVENUE FUNDS
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET (NON-GAAP) AND ACTUAL
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1992
(con tinued)
Total revenues
Park Acquisition
Variance
Favorable
Budget Actual (Unfavorable)
$ $ $
7,000 12,600 5,600
4,000 236 (3,764 )
11,000 12,836 1,836
REVENUES
Intergovernmental
Charges for services
Interest
Other
EXPENDITURES
Police
Public works
Parks and recreation
16,208
16,208
-
Total expenditures
16,208
16,208
- I
EXCESS (DEFICIENCY) OF REVENUE
OVER EXPENDITURES
(5,208)
12,836
18,044
OTHER FINANCING SOURCES (USES)
Operating transfers (out)
EXCESS (DEFICIENCY) OF REVENUE
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND OTHER
FINANCING USES (BUDGETARY
BASIS)
-
$
(5,208)
12,836
$
18,044
ADJUSTMENTS TO GAAP BASIS
Encumbrances:
Prior year paid in current
year
Current year outstanding
-
Total adjustments
EXCESS (DEFICIENCY) OF REVENUE
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND OTHER
FINANCING USES (GAAP BASIS)
12,836
Fund balance, beginning of year
1,874
Residual equity transfer (out)
FUND BALANCE, END OF YEAR
$
14,710
54
Building Demolition Senior Center
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$ $ $ $ $ $
800 503 (297) 350 242 (108)
4,000 4,000 7,000 7,085 85
800 4,503 3,703 7,350 7,327 (23)
16,767
204
16,563
17,850
5,808
12,042
16,767
204
16,563
17,850
5,808
12,042
(15,967)
4,299
20,266
(10,500)
1,519
12,019
-
$
(15,967)
4,299
$
20,266
$ (10,500)
1,519
$
12,019
-
(4,000)
(4,000)
-
299
1,519
15,943
7,347
$ 16,242
$ 8,866
(continued on next page)
55
CITY OF WHEAT RIDGE, COLORADO
SPECIAL REVENUE FUNDS
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET (NON-GAAP) AND ACTUAL
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1992
(continued)
Total revenues
Total
Variance
Favorable
Budget Actual (Unfavorable)
$ 761,631 $ 487,528 $ (274,103)
7,000 12,600 5,600
5,680 1,234 (4,446)
7,000 11,085 4,085
781,311 512,447 (268,864)
24,105 25,144 (1,039 )
16,767 204 16,563
1,936,240 84,320 1,851,920
1,977,112 109,668 1,867,444
(1,195,80ll 402,779 1,598,580
(246,000) (246,000)
-
REVENUES
Intergovernmental
Charges for services
Interest
Other
EXPENDITURES
Police
Public works
Parks and recreation
Total expenditures
EXCESS (DEFICIENCY) OF REVENUE
OVER EXPENDITURES
OTHER FINANCING (USES)
Operating transfers (out)
EXCESS (DEFICIENCY) OF REVENUE
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND OTHER
FINANCING USES (BUDGETARY
BASIS)
$ (1,195,801)
156,779
$
1,352,580
ADJUSTMENTS TO GAAP BASIS
Encumbrances:
Prior year paid in current
year
Current year outstanding
(152,108)
10,953
Total adjustments
(141,155)
EXCESS (DEFICIENCY) OF REVENUE
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND OTHER
FINANCING USES (GAAP BASIS)
15,624
Fund balance, beginning of year
44,924
Residual equity transfer (out)
(7,247)
FUND BALANCE, END OF YEAR
$
53,301
56
DEBT SERVICE FUND
Debt Service funds are used to account for financial resources to be
used for the accumulation of resources for, and payment of general
long-term debt principal, interest and related costs. The City has one
Debt Service fund.
Incremental Sales Tax Bond fund - accounts
percent of the City's sales tax receipts.
retire the general obligation revenue bond
for funds received from one
The funds will be used to
issue.
-
57
CITY OF WHEAT RIDGE, COLORADO
DEBT SERVICE FUND
INCREMENTAL SALES TAX BOND FUND
COMPARATIVE BALANCE SHEETS
DECEMBER 31, 1992 AND 1991
1992 1991
ASSETS
Cash and equivalents $ 51,768 $ 50,349
Accounts receivable 93 178
Restricted assets:
Investments 299,000 299,000
Total assets $ 350,861 $ 349,527
FUND EQUITY - I
Fund balance:
Reserved for:
Debt service $ 350,861 $ 349,527
Total fund equity $ 350,861 $ 349,527
58
CITY OF WHEAT RIDGE, COLORADO
DEBT SERVICE FUND
INCREMENTAL SALES TAX BOND FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
BUDGET (GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1992
(With comparative actual amounts for December 31, 1991)
Budget
REVENUES
Interest
$
5,000
Total revenues
5,000
-
EXPENDITURES
Other
Bond interest
5,000
210,925
-
Total expenditures
215,925
-
EXCESS (DEFICIENCY) OF
REVENUE OVER EXPENDITUES (210,925)
-
OTHER FINANCING SOURCES (USES)
Operating transfers in 210,925
Operating transfers (out)
-
Total financing
sources (uses) 210,925
-
EXCESS (DEFICIENCY) OF
REVENUE AND OTHER
SOURCES OVER EXPENDITUES
$
Fund balance, beginning
of year
FUND BALANCE, END OF YEAR
Actual
$ 29,284
29,284
1,025
210,925
211,950
(182,666)
210,910
(26,910)
184,000
1,334
349,527
$ 350,861
59
Variance
Favorable
(Unfavorable)
$
24,284
24,284
3,975
3,975
28,259
( 15)
(26,910)
(26,925)
$
1,334
1991
Actual
$ 30,832
30,832
555
210,925
211,480
(180,648)
210,910
(26,910)
184,000
3,352
346,175
$ 349,527
CAPITAL PROJECTS FUND
Capital projects funds are
used for the construction
(other than those financed
one capital project fund.
used to account for financial resources to be
or acquisition of major capital facilities
by proprietary or trust funds). The City has
-
-
60
CITY OF WHEAT RIDGE. COLORADO
CAPITAL PROJECTS FUND
COMPARATIVE BALANCE SHEETS
DECEMBER 31, 1992 AND 1991
1992
1991
ASSETS
Cash and cash equivalents
Investments
Accounts receivable:
Other
Due from other fund
Total assets
$ 12,551 $
4,429,310 2,767,959
5,004 4,516
1,260
$ 4.448,125 $ 2.772,475
LIABILITIES AND FUND EQUITY
LIABILITIES
Accounts payable
Due to other funds
$
125,993
5,304
$
2,424
Total liabilities
131.297
2,424
-
-
FUND EQUITY
Fund balance:
Reserved for:
Encumbrances
Capital projects
Unreserved:
Designated for
subsequent years'
expenditures
Undesignated
479,539
1,673,949
585,893
2,100,320
25,419
58.419
2,163,340
-
Total fund equity
4,316.828
2.770,051
-
Total liabilities and
fund equity
$ 4.448.125
$ 2,772.475
-
61
CITY OF WHEAT RIDGE, COLORADO
CAPITAL PROJECT FUND
COMPARATIVE STATEMENTS OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
FOR THE FISCAL YEARS ENDED DECEMBER 31, 1992 AND 1991
REVENUES
Taxes
Intergovernmental
Interest
Other
Total revenues
EXPENDITURES
Capital outlay
EXCESS (DEFICIENCY) OF REVENUES OVER
EXPENDITUES
OTHER FINANCING SOURCES (USES)
Operating transfers (out)
Total other financing
sources (uses)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND OTHER
USES
Fund balance beginning of year
Residual equity transfer in
FUND BALANCE, END OF YEAR
1992
$ 3,051,645
889
109,661
37,161
3,199,356
963,126
2,236,230
(696,700)
(696,700)
1,539,530
2,770,051
7,247
$ 4,316,828
62
1991
$ 2,885,977
266,494
179,073
15,415
3,346,959
3,887,328
-I
(540,369)
(724,000)
(724,000)
_I
(1,264,369)
4,034,420
$ 2,770,051
CITY OF WHEAT RIDGE, COLORADO
CAPITAL PROJECT FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET (NON-GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1992
(With comparative totals for December 31, 1991)
-
Variance
Favorable 1991
Budget Actual (Unfavorable) Actual
REVENUES
Taxes $ 2,975,000 $ 3,051,645 $ 76,645 $ 2,885,977
Intergovernmental 889 889 266,494
Interest 150,000 109,661 (40,339) 179,073
Other 38,625 37,161 (1,464) 15,415
Total revenues 3,163,625 3,199,356 35,731 3,346,959
EXPENDITURES
Capital outlay 2,847,344 856,772 1,990,572 2,872,889
EXCESS (DEFICIENCY) OF
REVENUE OVER EXPENDITUES 316,281 2,342,584 2,026,303 474,070
OTHER FINANCING SOURCES (USES)
Operating transfers (out) (696,700) (696,700) (724, ODD)
Total other financing
sources (uses) (696,700) (696,700) (724,000)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND OTHER
USES (BUDGETARY BASIS) $ ( 380,419) 1,645,884 $ 2,026,303 (249,930)
ADJUSTMENTS TO GAAP BASIS
Encumbrances:
Prior year, paid current year 479,539 (64,090)
Current year outstanding (585,893) (950,349)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND OTHER
USES (GAAP BASIS) 1,539,530 (1,264,369)
Fund balance beginning of year 2,770,051 4,034,420
Residual equity transfer in 7,247
FUND BALANCE, ElIID OF YEAR $ 4,316,828 $ 2,770,051
-
63
-
-
-
-
-
..
-
64
FIDUCIARY FUNDS
Trust and agency funds are used to account for assets held by the
City in a trustee capacity or as an agent. The City has one
nonexpendable trust fund, one expendable trust fund, and five agency
funds.
Nonexpendable trust fund:
Police Pension - accounts for monies received from Plan participants
and City contributions. The funds are held in trust for disbursement
to qualified participants upon leaving the plan or upon qualified
retirement.
Expendable trust fund:
Conservation Trust
as to use in the
conservation sites
fund - accounts for funds received and restricted
acquisition, development and maintenance of new
pursuant to Colorado Revised Statutes.
-
Aqency funds:
Public Works Escrow - accounts for funds received prior to
issuance of certain construction permits, to guarantee the
required by the permit. Upon completion the funds are returned.
the
work
-
Deferred Compensation
contributions for a
Section 457 of the
- accounts for employee
deferred compensation plan
Internal Revenue Code.
and matching
established
City
under
Special Improvement District - accounts for special assessment
property taxes received for a special improvement district bond issue
of 1988.
-
CATV (cable
from the
unresolved
property.
television) Property Damage - accounts for funds received
cable television permittee for settlement of minor
claims against the permittee for damage to private
Compensated Absences - accounts for funds received from the General
Fund to pay compensated absences of the City's employees.
65
CITY OF WHEAT RIDGE, COLORADO
FIDUCIARY - TRUST AND AGENCY FUNDS
COMBINING BALANCE SHEET
DECEMBER 31, 1992
(With comparative totals for December 31, 1991)
Pension Expendable
Trust Trust
Police Conservation
Pension Trust
ASSETS
Cash and cash equivalents $ $ 62,548
Investments 200,000
Accounts receivable:
Other 15,241
Accrued interest 78,546
Due from:
Other funds
Plan trustee 5,846,538
TOTAL ASSETS $ 5,940,325 $ 262,548
LIABILITIES AND FUND EQUITY
LIABILITIES
Advance contributions $ 11,293 $
Refundable escrow deposits
Due to:
Other funds 2,273
Employees
Special District
Total liabilities 11,293 2,273
FUND EQUITY
Fund balances:
Reserved for:
Encumbrances 72,272
Retirement plans S,929,032
Unreserved:
Designated for subsequent
years' expenditures 168,069
Undesignated 19,934
Total fund equity 5,929,032 260,275
TOTAL LIABILITIES AND FUND EQUITY $ 5,940,325 $ 262,548
66
Agency
Public Special CATV
Works Deferred Improvement Compensated Property Totals
Escrow Compensation District Absences Damage 1992 1991
$ 70,074 $ $ 7,443 $ $ 2,501 $ 142,566 $ 378,696
825,380 246,103 1,271,483 852,544
15,241 24,613
193 78,739 87,602
250,000 250,000 1
5,846,538 5,334,713
$ 70,074 $ 825,380 $ 253,739 $ 250,000 $ 2,501 $ 7,604,567 $ 6,678,169
67
CITY OF WHEAT RIDGE, COLORADO
EXPENDABLE TRUST FUND
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET (NON-GAAP) AND ACTUAL
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1992
Conservation Trust
Variance
Favorable
Budget Actual (Unfavorable)
REVENUES
Intergovernmental $ 110,000 $ 199,855 $ 89,855
Interest 7,500 8,179 679
Total revenues 11 7,500 208,034 90,534
EXPENDITURES
Parks and recreation 204,604 153,822 50,782
Total expenditures 204,604 153,822 50,782
EXCESS (DEFICIENCY) OF REVENUE
OVER EXPENDITURES $ (87,104) 54,212 $ 141,316
ADJUSTMENTS TO GAAP BASIS
Encumbrances:
Prior year paid in current
year
Current year outstanding
(115,455)
72,272
Total adjustments
(43,183)
EXCESS OF REVENUE OVER
EXPENDITURES (GAAP BASIS)
11,029
Fund balance, beginning of year
249,246
FUND BALANCE, END OF YEAR
$
260,275
68
-
-
-
-
-
69
CITY OF WHEAT RIDGE, COLORADO
FIDUCIARY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
ALL AGENCY FUNDS
FOR THE YEAR ENDED DECEMBER 31, 1992
Assets
Cash Due From
And Other Accounts Total
Investments Funds Receivable Assets
PUBLIC WORKS ESCROW FUND
Balance January 1, 1992 $ 83,923 $ $ $ 83,923
Additions (reductions) (13,849) (13,849)
Balance December 31, 1992 $ 70,074 $ $ $ 70,074
DEFERRED COMPENSATION
Balance January 1, 1992 $ 709,459 $ $ $ 709,459
Additions (reductions) 115,921 115,921
Balance December 31, 1992 $ 825,380 $ $ $ 825,380
SPECIAL IMPROVEMENT DISTRICT
Balance January 1, 1992 $ 186,113 $ $ 24,791 $ 210,904
Additions (reductions) 67,433 (24,598) 42,835
Balance December 31, 1992 $ 253,546 $ $ 193 $ 253,739
CATV PROPERTY DAMAGE FUND _!
Balance January 1, 1992 $ 2,499 $ 1 $ $ 2,500
Additions (reductions) 2 (1) 1
-
Balance December 31, 1992 $ 2,501 $ $ $ 2,501
COMPENSATED ABSENCES
Balance January 1, 1992 $ $ $ $
Additions (reductions) 250,000 250,000
Balance December 31, 1992 $ $250,000 $ $ 250,000
TOTALS
Balance January 1, 1992 $ 981,994 $ 1 $ 24,791 $ 1,006,786
Additions (reduc t ions) 169,507 249,999 (24,598) 394,908
Balance December 31, 1992 $1,151,501 $250,000 $ 193 $ 1,401,694
70
Liabilities
Refundable Due to Due to
Escrow Due To Other Special Total
Deposits Employees Fund District Liabilities
$ 83,894 $ $ 29 $ $ 83,923
(13,944) 95 (13,849)
$ 69,950 $ $ 124 $ $ 70,074
$
$
709,459
115,921
$
$
$
709,459
115,921
$
$
825,380
$
$
$
825,380
$ $ $ $ 210,904 $ 210,904
42,835 42,835
-
$ $ $ $ 253,739 $ 253,739
-
$ 2,500 $ $ $ $ 2,500
1 1
$ 2,500 $ $ 1 $ $ 2,501
$
$
$
$
$
-
250,000
250,000
$
$
250,000
$
$
$
250,000
$ 86,394
(13,944)
$
709,459
365,921
$
29
96
$
210,904
42,835
$ 1,006,786
394,908
$ 72,450
$ 1,075,380
$ 125
$
253,739
$ 1,401,694
71
GENERAL FIXED ASSETS ACCOUNT GROUP
The general fixed assets account group records changes in the City's
ownership of and investment in capital assets including land,
buildings, improvements to land and buildings, streets, bridges,
curbs and gutters, drainage systems, lighting systems, and other
equipment, the lives of which are greater than one year and whose
cost exceeds $ 200.
-
-
72
CITY OF WHEAT RIDGE, COLORADO
COMPARATIVE SCHEDULE OF GENERAL FIXED ASSETS
BY SOURCE
DECEMBER 31, 1992 AND 1991
1992 1991
GENERAL FIXED ASSETS
Land $ 2,478,250 $ 2,448,290
Buildings 3,011,262 3,011,262
Streets and improvements 9,117,469 9,117,469
Equipment 4,176,634 3,946,625
Total $ 18,783,615 $ 18,523,646
-
- INVESTMENT IN GENERAL
FIXED ASSETS FROM:
Assets contributed
- to the City $ 10,157,465 $ 10,157,465
Acquired by various
funds 8,626,150 8,366,181
-
Total $ 18,783,615 $ 18,523,646
-
-
-
-
73
CITY OF WHEAT RIDGE, COLORADO
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS -
BY FUNCTION AND ACTIVITY
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1992
Function and Activity
General Government
City Council
Treasurer
Mayor
City Administrator
Attorney
City Clerk
Municipal Clerk
Building
Planning\Development
Total
Public Safety
Police administration
Support services
Operations
Step/traffic
D.A.R.E.
Civil disaster
Police records
Police operations
Police patrol
Criminal investigation
Police traffic unit
Total
Public Works
Administration
Engineering
Street maintenance
Traffic maintenance
Shops
Total
Parks and Recreation
Administration
Recreation
Parks maintenance
Total
General
Fixed
Assets
January 1,
1992
$ 1,178
205,817
1,030
7,775
211
18,757
19,743
2,126,821
74,194
2,455,526
332,188
106,781
493,393
15,340
1,046
5,439
954,187
8,713,770
209,867
1,015,515
251,133
253,456
10,443,741
3,002,084
1,023,909
644,199
4,670,192
Total General Fixed Assets $ 18,523,646
Additions
And
Transfers
In
$
9,031
197,873
11,225
2,206
6,826
227,161
4,097
47,266
4,224
17,579
295
670
23,884
7,859
105,874
1,703
7,775
144,149
16,743
7,947
178,317
36,460
11,182
25,858
73,500
$ 584,852
74
Deletions
And
Transfers
Out
$ 120
173,607
1,037
6,510
403
181,677
5,773
22,937
28,871
57,581
4,008
16,068
45,064
11,128
3,179
79,447
489
970
4,719
6,178
$ 324,883
General
Fixed
Assets
December 31,
1992
$ 1,058
41,241
1,030
204,611
211
23,472
21,949
2,126,821
80,617
2,501,010
326,415
87,941
511,788
19,564
1,046
5,439
17,579
295
670
23,884
7,859
1,002,480
8,711,465
201,574
1,114,600
256,748
258,224
10,542,611
3,038,055
1,034,121
665,338
4,737,514
$ 18,783,615
CITY OF WHEAT RIDGE, COLORADO
SCHEDULE OF GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
DECEMBER 31, 1992
Streets
And
Land Building Improvements Equipment Total
Function and Activity
General Government
City Council $ $ $ $ 1,056 $ 1,056
Treasure-r 41,241 41,241
Mayor 1,030 1,030
City Administrator 204,611 204,611
Attorney 211 211
City Clerk 23,472 23,472
Municipal Clerk 21,949 21,949
BUilding 1,640,227 63,412 203,162 2,126,621
Planning\Development 80,617 80,617
Total 1,640,227 63,412 577,371 2,501,010
Public Safety
Police administration 2,761 384 323,270 326,415
Support services 2,060 85,861 87,941
Animal parks 511,788 511,788
Communications 19,564 19,564
D.A.R.E 1,046 1,046
Civil disaster 5,439 5,439
Records 17,579 17,579
Operations 295 295
Patrol 670 670
Criminal investigation 23,884 23,664
Traffic unit 7,859 7,859
-
Total 2,761 2,444 997,275 1,002,480
Public Works
- Administration 530,350 6,140,389 40,726 6,711,465
Engineering 69,807 131,767 201,574
Street maintenance 1,114,600 1,114,600
Traffic maintenance 256,748 256,746
- Shops 60,000 198,224 258,224
Total 660,157 8,140,389 1,742,065 10,542,611
- Parks and Recreation
Administration 1,731,126 223,004 762,738 321,187 3,038,055
Recreation 39,617 888,904 12,586 93,012 1,034,121
Parks maintenance 47,350 56,366 115,898 445,724 665,338
Total 1,816,093 1,168,274 891,224 859,923 4,737,514
Total General Fixed Assets $ 2,478,250 $ 3,011,262 $ 9,117,469 $ 4,176,634 $ 18,783,615
75
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76
CITY OF WHEAT RIDGE, COLORADO
ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
(UNAUDITED)
Ratio of Total
Assessed to
Fiscal Assessed Estimated Total Estimated
Year valuation Actual Value Actual Value
1983 $ 145,391,770 $ 484,634,387 30.0 %
1984 138,806,980 555,227,920 25.0
1985 142,459,340 569,837,360 25.0
1986 145,389,150 581,556,600 25.0
1987 261,992,340 1,114,861,021 23.5
1988 253,324,240 1,125,885,511 22.5
1989 235,939,530 1,072,452,409 22.0
1990 232,394,250 1,056,337,500 22.0
1991 210,683,130 964,579,282 21. 9
1992 213,727,940 973,871,091 21.9
NOTES:
-
A. Jefferson County is the collection agent for the City
of Wheat Ridge, and as such could not separate real
property, personal property, and exempt property.
The amounts shown above represent all types of
property.
B. Properties within the City are assessed by the
Jefferson County Assessor on January 1, of each year.
For 1992 the property was assessed at 21.9% of the
estimated actual value based on the period from July
1990 to June 1991.
Source: Jefferson County Assessors' office.
77
CITY OF WHEAT RIDGE, COLORADO
GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION
LAST TEN FISCAL YEARS
(UNAUDITED)
Fiscal General Community Public Public
Year Government Development Safety Works
1983 $ 960,936 $ 363,633 $ 2,203,666 $ 4,924,061
1984 1,216,737 479,165 2,336,067 5,612,992
1985 979,111 704,111 2,443,412 5,515,839
1986 1,031,810 621,583 2,871,557 5,558,628
1987 1,015,245 857,971 2,848,032 4,022,861
1988 991,362 459,939 3,040,648 4,057,897
1989 1,052,162 446,664 3,194,131 2,060,663
1990 1,073,469 466,862 3,161,272 1,883,838
1991 1,176,115 524,215 3,512,515 1,791,074
1992 1,277,604 545,496 3,675,408 2,061,221
NOTES: Includes the general, special revenue, and
debt service funds.
Source: City of Wheat Ridge audited financial
statements, 1983-1992.
78
Parks & Debt
Recreation Service Other Total
$ 920,197 $ $ 343,878 $ 9,716,371
996,174 323,433 10,964,568
1,079,096 592,996 11,314,565
1,185,245 582,198 11,851,021
1,099,137 698,392 10,541,638
1,182,160 96,088 537,895 10,365,989
1,078,052 211,175 798,781 8,841,628
1,537,240 211,425 632,529 8,966,635
1,624,833 210,925 691,942 9,531,619
1,538,701 211,950 971,375 10,281,755
79
CITY OF WHEAT RIDGE, COLORADO
GENERAL GOVERNMENTAL REVENUES BY SOURCE
LAST TEN FISCAL YEARS
(UNAUDITED)
Charges
Fiscal Licenses Intergov- for
Year Taxes & Permits ernmental Services
1983 $ 6,768,083 $ 185,267 $ 1,194,589 $ 206,243
1984 7,358,947 238,948 1,560,986 194,095
1985 7,440,861 215,851 1,154,850 192,463
1986 7,531,653 223,959 1,304,977 495,051
1987 7,320,112 246,513 1,655,083 504,482
1988 7,393,814 270,142 1,744,146 469,973
1989 5,171,317 A 225,961 1,998,907 504,767
1990 5,736,579 332,499 1,810,246 236,700
1991 6,463,943 324,026 2,092,622 264,388
1992 6,712,572 344,309 1,897,279 304,036
Notes: Includes general and special revenue funds.
A. One half of total sales tax revenues are accounted
for in the Capital Project Fund starting in 1989.
Source: City of Wheat Ridge audited financial
statements, 1983-1992.
80
Fines &
Forfeitures Interest Other Total
$ 120,657 $ 553,205 $ 140,870 $ 9,168,914
110,212 604,458 80,281 10,147,927
115,653 455,488 57,737 9,632,903
132,573 260,042 724,920 10,673,175
130,311 191,331 382,877 10,430,709
266,251 180,942 58,732 10,384,000
389,600 169,700 84,399 8,544,651
396,718 188,835 97,608 8,799,185
283,240 176,167 127,480 9,731,866
250,499 112,805 170,816 9,792,316
8l
CITY OF WHEAT RIDGE, COLORADO
GENERAL GOVERNMENTAL TAX REVENUES
LAST TEN FISCAL YEARS
(UNAUDITED)
Liquor &
Fiscal Property Telephone Auto Sales
Year Taxes Occupation Ownership Tax
1983 $ 455,015 $ 137,505 $ 44,499 $ 4,693,198
1984 494,092 143,907 43,411 5,203,793
1985 478,447 152,977 48,061 5,061,288
1986 494,847 161,693 47,165 5,050,875
1987 502,269 177,486 44,926 4,902,053
1988 545,964 183,773 44,895 5,083,240
1989 542,580 172,901 46,986 2,754,972 A
1990 567,756 178,929 47,208 2,730,931
1991 564,389 175,326 49,973 2,885,976
1992 560,570 173,188 53,689 3,269,706
Notes: Includes general and special revenue funds.
A. One-half of total sales tax is earmarked
for capital projects fund created in 1989.
Source: City of Wheat Ridge audited financial
statements, 1983-1992.
-
82
Lodgers &
Use Franchise Admissions
Tax Tax Excise Total
$ 736,933 $ 700,933 $ $ 7,358,947
849,723 624,021 7,358,947
758,177 941,911 7,440,861
743,125 778,004 255,944 7,531,653
674,346 735,196 283,836 7,320,112
660,152 622,393 253,397 7,393,814
658,830 745,403 249,645 5,171,317
1,185,551 724,078 302,126 5,736,579
1,724,086 756,410 307,782 6,463,942
1,531,200 738,133 386,086 6,712,572
-
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83
CITY OF WHEAT RIDGE, COLORADO
PROPERTY TAX RATES - DIRECT AND OVERLAPPING GOVERNMENTS
LAST TEN FISCAL YEARS
(UNAUDITED)
City of School Belaire Fruitdale
Fiscal Wheat Jefferson District Sanitation Sanitation
Year Ridge County R-1 District District:
1983 3.500 24.150 59.760 30.720 5.020
1984 3.500 24.090 58.690 32.870 5.100
1985 3.500 25.040 61.550 35.920 4.720
1986 3.500 28.790 63.730 38.410 4.720
1987 2.020 17.140 36.630 18.172 2.683
1988 2.265 18.890 40.312 24.332 3.210
1989 2.418 22.021 44.147 25.824 3.600
1990 2.458 23.602 42.207 28.000 3.925
1991 2.714 25.584 44.421 10.000 4.396
1992 2.714 25.584 52.276 4.593 4.266
Note: All numbers shown are Mill Levys
(amoun ts assessed per $1,0001
Source: Jefferson County Assessers' Office
84
Urban
North West Drainage Wheat Wheat
Lakewood & Flood Valley Westridge Ridge Ridge
Sanitation Control Water Sanitation Fire Sanitation
District District District District Protection District
5.950 0.900 3.780 8.810 3.180 2.930
6.890 0.900 4.110 9.490 3.520 3.260
7.360 0.900 4.070 9.490 3.690 3.450
8.060 1. 000 4.180 9.490 3.910 3.690
4.570 0.518 2.408 5.463 2.240 1. 943
-
5.157 0.577 2.643 6.405 2.597 2.488
5.157 0.668 2.204 6.853 3.060 2.790
6.791 0.699 1. 710 7.361 3.178 3.004
7.727 0.780 1. 949 8.028 3.757 3.595
7.727 0.780 1.885 8.028 3.700 3.595
-
-
....
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85
CITY OF WHEAT RIDGE, COLORADO
PROPERTY TAX LEVIES AND COLLECTIONS - GENERAL FUND
LAST TEN FISCAL YEARS
(UNAUDITED)
Percent of
Total Current Percentage Delinquent Total Total Tax
Fiscal Tax Tax of Levy Tax Tax Collections
Year Levy Collections Collected Collections Collections to Levy
1983 $ 459,300 $ 453,033 98.6 % $ 1,982 $ 455,015 99.1 %
1984 485,824 477,500 98.3 172 477,672 98.3
1985 485,921 478,253 98.4 193 478,446 98.5
1986 499,738 494,608 99.0 238 494,846 99.0
1987 505,630 501,449 99.2 820 502,269 99.3
-
1988 545,454 544,869 99.9 1,095 545,964 100.1
1989 562,472 543,462 96.6 (822) A 542,580 96.5
1990 568,301 561,551 98.8 6,205 A 567,756 99.9
1991 568,301 561,537 98.8 2,852 564,389 99.3
1992 568,301 560,570 98.6 840 561,410 98.8
A. Net prior year tax abatements and adjustments due to revaluation
of property in Jefferson County.
Source: Jefferson County Assessors' office and the City of Wheat Ridge audited
financial statments, 1983-1992.
86
CITY OF WHEAT RIDGE, COLORADO
Taxpayer
Adolph Coors Company
Leaf Inc. (Jolly Rancher)
Securities Industry Software
Inland Container
Applewood Village
Lutheran Medical
Xerox Corporation
-
American Cablevision
Ram Line
-
Hoflin Publishing
-
-
PRINCIPAL TAXPAYERS
DECEMBER 31, 1992
(UNAUDITED)
Type of Business
Glass Container Mfg.
Candy Mfg.
Computer Software
Corrugated Container Mfg.
Shopping Center
Medical Office Bldgs.
Office Equipment Leasing
Cable TV
Sporting Goods Access Mfg.
Magazine Publishing
Total
-
Source: Jefferson County Assessors' Office.
-J"
87
Assessed
Valuation
$ 7,715,940
4,261,080
1,193,060
994,510
717,090
679,960
468,940
368,460
287,370
274,650
$ 16,961,060
Percentage
of Total
Valuation
3.61 %
1. 99
0.56
0.47
0.34
0.32
0.22
0.17
0.13
0.13
7.94 %
CITY OF WHEAT RIDGE, COLORADO
SPECIAL ASSESSMENT BILLINGS AND COLLECTIONS
LAST TEN FISCAL YEARS
(UNAUDITED)
Current Current Ratio of
Fiscal Assessments Assessments Collections
Year Due Collected to Amount Due
1983 $ $ %
1984
1985
1986
1987
1988 1,250,000 221,388 .18
-
1989 164,538 176,479 107.26
1990 164,538 164,538 100.00
1991 167,000 181,523 114.68
-
1992 167,000 195,516 117.08
Note: In 1988 the City issued $ 1,250,000 in special
assessment debt. The property owners were offered
the option to pay their prorata share of the
assessment over the next ten years or the entire
balance in 1988 less a 5% discount. The Ci ty
collected $ 83,390 from the assessed district and an
additional $ 137,998 from the bond proceeds applied
against the debt in a negotiated settlement with two
of the affected property owners.
--
Source: City of Wheat Ridge audited financial
statements, 1983-1992.
88
CITY O~_WHEAT RIDGE, COLORADO
COMPUTATION OF LEGAL DEBT MARGIN
DECEMBER 31, 1992
(UNAUDITED)
Computation of maximum debt allowed:
1992 estimated actual valuation $ 973,871,091
Legal debt limit percentage 3 %
Legal debt limit $ 29,216,133
Amount of Debt outstanding:
Total bonded debt $ 2,990,000
Less: Funds available in debt service fund (350,861)
Net bonded debt outstanding 2,639,139
Legal debt limi t 29,216,133
Legal debt margin $ 31,855,272
Source: City of Wheat Ridge charter and Jefferson County
Assessors' Office
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89
CITY OF WHEAT RIDGE, COLORADO
COMPUTATION OF DIRECT AND OVERLAPPING BONDED DEBT
DECEMBER 31, 1992
(UNAUDITED)
Total overlapping debt
Overlapping
Debt
Applicable
to City
$ 26,940,900
26,940,900
2,990,000
$ 29,930,900
Taxing Authority
Gross
Debt
Outstanding
Percentage
Applicable
to City
School District R-1
$ 449,015,000
6.0 %
City of Wheat Ridge
2,990,000
100
Total direct and overlapping debt
Source: The taxing authorities listed above and the Jefferson
County School District.
-
90
-
CITY OF WHEAT RIDGE, COLORADO
RATIO OF ANNUAL DEBT SERVICE FOR GENERAL BONDED DEBT
TO TOTAL GENERAL GOVERNMENTAL EXPENDITURES
LAST TEN FISCAL YEARS
(UNAUDITED)
Ratio of
(B) Debt Service
(A) Total to Total
Total General General
Fiscal Debt Government Government
Year Principal Interest Service Expenditures Expenditures
1983 $ $ 9,716,371 %
1984 10,964,568
1985 11,314,565
1986 11,851,021
1987 10,541,638
1988 96,088 96,088 10,365,989 0.93
1989 210,925 210,925 8,841,628 2.39
1990 210,925 210,925 8,966,635 2.35
1991 210,925 210,925 9,731,866 2.16
1992 210,925 210,925 9,792,316 2.15
-
-
-
-
NOTES: This table excludes special assessment debt
-
A. Excludes bond issuance and other costs
B. Includes general, special revenue, and debt service
funds.
-
Source: City of Wheat Ridge audited financial statements,
1983-1992.
91
CITY OF WHEAT RIDGE, COLORADO
RATIO OF NET BONDED DEBT TO ASSESSED VALUE
AND NET BONDED DEBT PER CAPITA
LAST TEN FISCAL YEARS
(UNAUDITED)
Gross
Fiscal Assessed Bonded
Year Population Value Debt
1983 30,336 $ 145,391,770 $
1984 30,280 138,806,980
1985 30,280 142,459,340
1986 30,480 145,389,150
1987 29,506 261,992,340
1988 29,864 253,324,240 2,990,000
1989 30,013 235,939,530 2,990,000
1990 29,419 232,394,250 2,990,000
1991 29,419 210,683,130 2,990,000
1992 30,192 213,727,940 2,990,000
NOTES: Gross bonded debt does not include
special assessment bonds.
Source: City of Wheat Ridge audited financial
statements, 1983-1992.
92
Debt
Service
Funds
Available
$
339,749
343,157
-
346,175
349,527
350,861
-
Net
Bonded
Debt
$
2,650,251
2,646,843
2,643,825
2,640,473
2,639,139
Ratio
of Net
Bonded
Debt to
Assessed
Value
1. 05
1.12
1.13
1. 25
1. 23
93
Net
Bonded
Debt
Per
Capita
%
$
89
88
90
90
87
CITY OF WHEAT RIDGE, COLORADO
REVENUE BOND COVERAGE
SALES TAX REVENUE BONDS
LAST TEN FISCAL YEARS
(UNAUDITED)
Sales
Fiscal Tax Debt Service Requirements
Year Revenues Principal Interest Total Coverage
1983 $ 4,693,198 $ $ $
1984 5,203,793
1985 5,061,288
1986 5,050,875
1987 4,902,053
1988 5,083,240 96,088 96,088 52.90
1989 5,509,944 210,925 210,925 26.12
1990 5,461,862 210,925 210,925 25.89
1991 5,771,952 210,925 210,925 27.36
1992 6,321,351 210,925 210,925 29.97
Note: Sales tax revenues are included since debt service is
paid with sales tax proceeds.
Source: City of Wheat Ridge audited financial statements,
1983-1992.
94
CITY OF WHEAT RIDGE, COLORADO
DEMOGRAPHIC STATISTICS
LAST TEN FISCAL YEARS
(UNAUDITED)
Average
Number of
Per Years of
Fiscal Capita Median Formal School Unemployment
Year Population Income Age Schooling Enrollment Rate
1983 30,336 $ 12,440 34 12.8 4,653 5.3 %
1984 30,280 12,335 34 12.8 4,669 4.7
1985 30,280 12,828 34 12.8 4,663 4.8
1986 30,480 12,828 34 12.8 4,337 6.4
1987 29,506 12,977 35 12.8 4,562 5.6
1988 29,864 13,000 35 13.0 4,658 5.8
1989 30,013 13,664 35 13.0 5,048 4.5
1990 29,419 16,392 32 13.2 4,454 3.9
-
1991 29,419 17,693 37 13.2 4,750 4.2
1992 30,192 15,451 37 13.2 5,415 5.0
- Source: The 1990 Census Bureau statistics, the Center for
Business and Economic Forecasting, Jefferson County Planning
Department, and the Jefferson County School District R-1.
-
95
CITY OF WHEAT RIDGE, COLORADO
CONSTRUCTION, PROPERTY VALUE, AND BANK DEPOSITS
LAST TEN FISCAL YEARS
( UNAUDITED)
Commercial Re5identia1
Construction Construction
Number Number Estimated Total
Fiscal of Estimated of E5timated Actual Wheat Ridge
Year Units Value Units Value Property Value Bank Deposits
1963 12 $ 5,964,496 357 $ 9,765,110 $ 484,634,367 $ 98,124,000
1984 12 3,720,831 224 9,262,037 462,669,934 115,456,000
1985 9 6,210,435 186 6,848,498 474,866,841 124,733,000
1966 12 7,382,110 56 2,770,741 484,630,500 145,302,000
1967 4 3,272,160 63 4,828,885 1,114,861,021 756,995,487
1988 11 1,996,272 14 1,636,209 1,125,885,511 132,468,920
1989 11 2,629,566 14 1, 700, 028 1,072,452,409 131,969,885
1990 13 4,238,919 11 1,598,372 1,056,337,500 138,171,196
1991 35 7,899,120 13 2,023,015 964,579,282 137,170,000
1992 7 14,589,907 203 11,202,696 973,671,091 356,375,348
Source: The City of Wheat Ridge Building Department, Jeffer50n County
Asses5or5' Office, and local bank statements of condition.
96
CITY OF WHEAT RIDGE, COLORADO
MISCELLANEOUS STATISTICS
DECEMBER 31, 1992
(UNAUDITED)
Date of Incorporation
Form of Government
Area
Population (Est.)
Employees:
Elected
Appointed
Fire Protection: (1)
Number of stations 2
Number of fire fighters and officers 1
(exclusive of volunteer fire fighters)
Police Protection:
Number of stations
Number of police officers
Education: (1)
Private and Parochial
Public Elementary Schools
Public Junior High Schools
Public High School
Local Streets:
Miles of streets
Number of street lights
Number of traffic controlled locations
Building Permits Issued
Recreation and Culture:
Community Centers
Outdoor Swimming Pool
Tennis Courts
Parks (developed and undeveloped)
Greenbelt trail system
Libraries(l)
Number of Volumes
Jefferson County Library System
1969
Mayor - Council
9.1 Sq. Miles
30,192
11
164.75
1
58
4 (614 students)
6 (2,257 students)
2 (1,157 students)
1 (1,387 students)
129
1,722
49
2167
2
1
9
16 w/125.75 Acres
5.5 miles (Approx. 300 Acre
1
27,707
537,537
(1) Facilities and services not included in the reporting entity
Source: City of Wheat Ridge, Jefferson County School District R-1,
Wheat Ridge Fire Protection District and Jefferson County
Public Library
97
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98
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DALE M. YANARl
RANDY 5. WATSON
DERALlJ L. LYONS
(Y. LANCE MCGAUCTHEY
DON W GRI:ENLER
ARll1111 T. WEAVER
OF COt1NSEL
-
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INDEPENDENT AUDITORS' REPORT ON SUPPLEMENTARY INFORMATION
STATEMENT OF RECEIPTS AND EXPENDITURES
FOR ROADS, BRIDGES AND STREETS
To the City Council
City of Wheat Ridge, Colorado
We have audited the general purpose financial statements of the
City of Wheat Ridge, Colorado, as of December 31, 1992, and have
issued our re~ort thereon dated March 5, 1993. These general
purpose financ~al statements are the responsibility of the City
of Wheat Ridge, Colorado, management. Our responsibility is to
express an op~nion on these general purpose financial statements
based on our audit.
-
-
-
We conducted our audit in accordance with generally accepted
auditing standards. 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 includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An
audit also includes assessing the accounting principles used and
significant estimates made br management, as well as evaluating
the overall general purpose f~nancial statement presentation. We
believe that our audit provides a reasonable basis for our
opinion.
Our audit was made for the purpose of' forming an opinion on the
general purpose financial statements of the City of Wheat Ridge,
Colorado, taken as a whole. The accompanying statement of
"Counties, Cities, and Towns Annual Statement of Receipts and
Expenditures for Roads, Bridges and Streets", is presented for
purposes of additional analys~s and is not a required ~art of the
general purpose financial statements. The informat~on in the
statement has been subjected to the auditing procedures applied
in the audit of the general purpose financial and is presented on
a basis of account~ng and format required by the Colorado
Department of Highways and is not intended to comply with
generally accepted accounting principles.
In our opinion, such information is fairly stated in all material
respects in relation to the general pur~ose financial statements
taken as a whole, on a basis of account~ng that is not intended
to comply with generally accepted accounting principles.
March 5, 1993
-
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100
~ EPORT '
COUNTIES. CITIES. &. TOWNS ~j""NUAL ST ~ TEMENT OF RECEIPTS
.{ EXPENDITURES FOR ROADS. BRIDGES AND STREETS
'_OUNTY CITY TOWN
CITY OF WHEAT RIDGE, COLORADO
I:: ....LENDAR 1 EAR OF REPORT
1992
ROUND ALL .UfOV"iTS TO "'EAREST DOLLAR
SCHEDULE OF RECEIPTS FOR ROAD. BRIDGE AND STREET PURPOSES
~. LOCA L SOURCES
Property Tax/SpeCI3,1 A8Iellments 139,852
General fund AopropnatlOns 0
- Other IspeCl1VI 18,608
, Tr3ffic fines 165,951
Sales Ta.x 892,073
Road &
6a. From County (specify) Bridge 434,891
- 477,790
Auto use
b City fTown (Spe"/yJ 0
- 1 Bond Proceeds (net of lsauance cost. 1 0
3 Note Proceeds (net of Issuance coatI 0
;) SpeCific Ownersmp Taxes 53.689
C. STATE SOURCES
1 Highway \... serl Tax
673,358
:\orator '" enlcle Reglnratlon rees
109,733
ather IscecliYI
o
TOTAL ST -ITE SOURCES
783,09l
D. FEDERAL SOURCES
1 Forest Service
o
2. Mineral LeulO(
o
3 Payments 10 Lieu of Taxes
o
4 Other (.peel/Y)
o
-
TOTAL LOC iL SOURCES
2,182,854
TOTAL FEDERAL SOURCES
o
B. PRff iTE CO\TRrS['TfOVS
()
-
E. TOTAL RECE!PTS ( -I+8+C+D)
2,965,945
F U.\'SPE.\'T BiLA\CES BECrSNrNC OF rEiR
, mUSI equal el1Jlllg balance 0/ prevIOUS \'eaT!
o
G. TOTAL RECEIPTS ,1"0 BALANCES (E'tF I
2,965,945
... TOTAL RECEIPTS & BALANCES MUST EQUAL TOTAL EXPENDITURES &. BALANCES ...
PLEASE GIVE THE NAME AND PHONE NUMBER :--.lAME Linda Stengel
OF THE PERSON TO CONTACT FOR QUESTIONS
REGARDI:"G THE REPORT PHONE (303) 235-2817
(Revi.ed 11 931
(continued)
0\-13
101
CITY OF WHEAT RIDGE
'EPORT
:n :
I SCHEDULE OF EXPENDITURES FOR ROAD. BRIDGE A. '..0 STREET PURPOSES
DIRECT HIGHWAY ErPENDITURES
Riq'ht-oi- \V ay
Preltmln3lY a.na Construction En$tineerm~
Construcuon
5,715
8,129
416,312
764,125
28,003
266,779
502,499
7~R.g01
.. Maintena.nce oi Con diu on
Snow and Ice RemovaJ
Traffic: ServIces
-\dmlnl.tratlon
:5 Traffic Enforcement
~OT~L DIRECT HIGHII n E\PE:\DITCRES
2,750,463
] DEBT P II \[E\TS 0\ BOSDS -J \D \OTES
Interest on Bonas
Interest on Notes
Redemption on Bonds (net value)
4 Redemption on Notes \net v::uue)
210,925
o
o
o
-
TOTAL DEBT P ~ YlIE\TS
2l0,925
-
C P~Y,\fENTS TO OTHER GOI'ERNME/\TS
1a. To County (.peclfyl
b To City (.peclfy)
:: To Dept of Trani.
o
o
4,557
TOT~L PH.\fE\TS TO OTHER GOVERNME/\'TS
4,557
D OTHER HIGHI! n' P['RPOSES
3peclfy)
o
:- TOT~L E\PE\D/HRES ~TB+CTDI
2,965,945
F B~U\'CES EYD OF YEAR
o
\ unspent reCelptl)
G TOT ~L EXPE\'DIH'RES ~ND BALA/VCES " E+F)
2,965,945
I Revised 1/93)
(continued)
-\-14
l02
CITY OF WHEAT RIDGE
REPORT A
(can't)
III. SCHEDULE OF CHANGE IN DEBT STATUS FOR ROAD, BRIDGE AND STREET OBLIGATION
(show all entries at par value; face amount of issue)
BONDS
NOTES
A BONDS AND NOTES OUTSTANDING BEGINNING OF YEAR
o
o
B, AMOUNT ISSUED DURING YEAR (par value)
1. Original i.sues thi. year
o
o
2. Refunding iasue.
o
o
C. AMOUNT REDEEMED DURING YEAR (par I'alue)
1 From current receipts or reserves
o
o
2. From refunding juue.
o
o
D. BONDS AND NOTES OUTSTANDING END OF YEAR
o
o
-
-
-
-
(Revised 1(93)
(end)
A-15
103
EPORT 3
_'.-';..P!TAL JUTL.-:..Y r.::PEYDITl:RE8 FOR :~P:' IS
CALENDAR YEAR 1992
'::: ou 1\ I,' CTY, TOWN OF
CITY OF WHEAT RIDGE
. IWUND AI.Ul\JOUNTS TO NEARr..srI)OI.LAR_
CAPITAL OL TL\ Y
, ROAD OR STREET 91 ROAD OR STREET 91 ROAD OR STREET 0
CONSTRUCTION i
PROJECT NAME AND NUMBER NAME AND ;-';L;MBER I .\AME A1\D NUMBER
I 70 SERVICE ROAD FIELD STREET 35th & ALLISON
IMP TYPE , 1~1P TYPE I r:-,1P TYPE n/a I ~~.1P T,PE 10
I 20
TOTAL COST I S 23 I S PAYMENT TO CDOT I S 27,620
CONSTRUCTION ROAD OR STREET 01 ROAD OR ST:u:ET al ?,OAD OR STREET B
PROJECT I ;--':Alv!E A7'.D NUMBER ';:\i~~ ~fUMBER .
i I "A~,~\i~ :--'l'\IBER !
, 38th AVENUE 32nd A E U 38t D1
i WADSWORTH-CODY i UNION - KIPLING PIERCE - SHERIDAN
IMP TYPE I I~1P. TYPE 35 IMP TYPE n/a 1~1P r:'PE 32
TOTAL COST S 14,723 S PAYMENT TO CDOT I S 195,050
CONSTRUCTION I ROAD OR STREET G ROAD OR STREET (I ROAD OR STREET f)
PROJECT NAME AND NUMBER NAME AND NUMBER NAME AND NUMBER
~~h AVENUE PIE~CE SUEF 35th & Johnson
SWORTH - PIERCE 29t to t AVENUE
IMP TYPE IMP, TYPE 32 IMP, TIPE 78 JIv1P n'PE 35
TOTAL COST S 12,505 S 87,752 I S 92,483
CONSTRUCTION I ROAD OR STREET ~ ROAD OR STREET tD ROAD OR STREET ~
PROJECT NAME AND NUMBER NAME AND NUMBER ;--':AME AND NUMBER
1/'.1P TYPE I IMP TYPE IMP. TYPE I:-'1P, TYPE
TOTAL COST I S s S
CONSTRUCTION I ROAD OR STREET ~ ROAD OR STREET ~ ROAD OR STREET 4'
PROJECT NAME AND NUMBER NAME AND NUMBER NAME AND NUMBER
IMP, TYPE IMP, TYPE IMP TIPE 11\1P TIPE
TOTAL COST S S S
-
TOTAL CONSTRUCTION PROJECTS $
430,156
TOTAL CO~STRUCTIO:-.l PROTECTS MUST EQUAL THE CONSTRUCTIO:-.l EXPENDITURES (R.O W., PRELIMINARY
.>u\JD CO:-.lSTRUCTION ENGINEERING, AND CONSTRUCTlO:-.ll ON THE RECIEPTS AND EXPENDITURES REPORT
(Revised 1/93)
8-6
104
~EPCRT -
-:.. "'NliAL ,\IAINTE:"I.\,\'CE OF EFFORT
COr.tPLIANCE \\ORKSHEET
~OUNT'rCITY TOWN
CITY OF WHEAT RIDGE
'-ERTfFIED \lAINTENANCE OF EFFORT. BASE \ EAR $s
1,842.750
C) \lAll'oTENANCE OF EFFORT C-\LCL'LATION
;,. LOCAL SOtlRCES J. A DJ l.!ST\lENTS TOTAL
Property Tax/Special Auellmentl 139,852 139,852
Genera! Fund ApproprIations 0 0
Other 18,608 18,608
f;-J.ffic Fine! 165,951 165,951
Sales Tax 892,073 892,073
6::1. From County 912,681 .912,681
- b City ITo"," 0 0
7 Specific Ownennlp Tax 53,689 53,689
-
8 Beginning bal;t.nce 0 0
C. TOTAL SOURCES 2,182,854 2,182,854
-
D, E:'iDING BALANCE 0 0
- E 'II.\INTE'-: .\NCE OF EFFORT 2,182,854 2,182,854
_ Please indicate if vour :\lainlenance of Effort (item E) equals or exceeds your certified
\Iainlenance of effort listed aboH. \ es X '<0
If no, please attach an explanalion of whv this requirement can not be met.
"ame: Linda Stengel
Phone (303) 235-2817
, ReVlsea l' 93\
'continuedl
C-4
105