CITY OF
COLLEYVILLE, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
YEAR ENDED SEPTEMBER 30, 2014
Prepared by
Finance Department
Terry Leake
Assistant City Manager/Chief Financial Officer
Karen Hines
Finance Manager
CITY OF COLLEYVILLE, TEXAS
TABLE OF CONTENTS
YEAR ENDED SEPTEMBER 30, 2014
Page
Number
INTRODUCTORY SECTION
Letter of Transmittal …………………………………………………………………………………………….. 3 – 6
Organizational Chart …………………………………………………………………………………………….. 7
Certificate of Achievement ……………………………………………………………………………………. 8
Principal Officials ………………………………………………………………………………………………… 9
FINANCIAL SECTION
Independent Auditors’ Report………………………………………………………………………………… 13 – 15
Management’s Discussion and Analysis …………………………………………………………………. 19 – 27
Basic Financial Statements
Statement of Net Position …………………………………………………………………………………… 30 – 31
Statement of Activities ……………………………………………………………………………………….. 32 – 33
Balance Sheet – Governmental Funds ………………………………………………………………….. 34 – 35
Statement of Revenues, Expenditures and Changes in
Fund Balances – Governmental Funds ………………………………………………………………. 36 – 37
Reconciliation of the Statement of Revenues, Expenditures
and Changes in Fund Balance of Governmental Funds to the
Statement of Activities …………………………………………………………………………………….. 38
Statement of Revenues, Expenditures and Changes in
Fund Balances – Budget and Actual – General Fund …………………………………………… 39
CITY OF COLLEYVILLE, TEXAS
TABLE OF CONTENTS
(Continued)
YEAR ENDED SEPTEMBER 30, 2014
Page
Number
FINANCIAL SECTION (Continued)
Basic Financial Statements (Continued)
Statement of Net Position – Proprietary Funds………………………………………………………. 40
Statement of Revenues, Expenses and Changes in
Fund Net Position – Proprietary Funds ………………………………………………………………. 41
Statement of Cash Flows – Proprietary Funds ……………………………………………………….. 42 – 43
Statement of Fiduciary Net Position – Fiduciary Funds ………………………………………….. 44
Notes to the Financial Statements ………………………………………………………………………… 45 – 68
Required Supplementary Information
Schedule of Funding Progress for the Retirement Plan …………………………………………… 71
Nonmajor Governmental Funds
Combining Balance Sheet …………………………………………………………………………………… 74 – 79
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances ……………………………………………………………………………….. 80 – 85
Schedule of Revenues, Expenditures and Changes in
Fund Balance – Budget and Actual – Debt Service Fund …………………………………….. 86
Agency Funds
Combining Statement of Fiduciary Net Position ……………………………………………………. 88
Combining Statement of Changes in Assets and Liabilities …………………………………….. 89
CITY OF COLLEYVILLE, TEXAS
TABLE OF CONTENTS
(Continued)
YEAR ENDED SEPTEMBER 30, 2014
Page
STATISTICAL SECTION (Unaudited) Exhibit/Table Number
Net Position by Component ………………………………………………………….. 1 92 – 93
Changes in Net Position ……………………………………………………………….. 2 94 – 97
Fund Balances – Governmental Funds …………………………………………… 3 99
Changes in Fund Balances – Governmental Funds ………………………….. 4 100 – 101
Assessed Value and Estimated Actual Value
of Taxable Property…………………………………………………………………… 5 102
Direct and Overlapping Property Tax Rates ……………………………………. 6 103
Principal Property Taxpayers ………………………………………………………… 7 104
Property Tax Levies and Collections ……………………………………………… 8 105
Principal Water Customers …………………………………………………………… 9 106
Ratios of Outstanding Debt by Type ……………………………………………… 10 107
Ratios of General Bonded Debt Outstanding…………………………………… 11 108
Direct and Overlapping Governmental Activities Debt …………………….. 12 109
Legal Debt Margin Information …………………………………………………….. 13 110
Pledged Revenue Coverage ………………………………………………………….. 14 112 – 113
Demographic and Economic Statistics …………………………………………… 15 114
Principal Employers …………………………………………………………………….. 16 115
Fulltime Equivalent City Government Employees by
Function/Program …………………………………………………………………….. 17 116
Operating Indicators by Function/Program …………………………………….. 18 117
Capital Asset Statistics by Function/Program………………………………….. 19 118
CITY OF COLLEYVILLE, TEXAS
TABLE OF CONTENTS
(Continued)
YEAR ENDED SEPTEMBER 30, 2014
Page
Number
COMPLIANCE
Independent Auditors’ Report on Internal Control Over Financial
Reporting and on Compliance and Other Matters Based on an
Audit of Financial Statements Performed in Accordance with
Government Auditing Standards ………………………………………………………………………….. 121 – 122
1
INTRODUCTORY SECTION
2
THIS PAGE INTENTIONALLY LEFT BLANK
Integrity Service Innovation
January 27, 2015
To the Citizens of the City of Colleyville:
The Comprehensive Annual Financial Report of the City of Colleyville (the “City”) for the fiscal year ended
September 30, 2014, is hereby submitted. Responsibility for both the accuracy of the data, and completeness and
fairness of the presentation, including all disclosures, rests with the City. To the best of our knowledge and belief,
the enclosed data are accurate in all material respects and are reported in a manner designed to present fairly the
financial position, results of operations and cash flows of the various funds of the City. All disclosures necessary
to enable the reader to gain an understanding of the City’s financial activities have been included.
In developing and evaluating the City’s accounting system, consideration is given to the adequacy of internal
accounting controls. These controls are designed to provide reasonable, but not absolute, assurance regarding
the safeguarding of assets against loss from unauthorized use or disposition, and the reliability of financial
records for preparing financial statements and maintaining accountability for assets. The concept of
reasonable assurance recognizes that the cost of a control should not exceed the benefits likely to be derived,
and the evaluation of costs and benefits requires estimates and judgments by management. We believe that
the City’s current system of internal controls adequately safeguards assets and provides reasonable assurance
of proper recording of financial transactions.
As required by the City’s charter, the financial statements have been audited by Pattillo, Brown & Hill,
L.L.P., a firm of certified public accountants. The goal of the independent audit was to provide reasonable
assurances that the financial statements of the City of Colleyville for the fiscal year ended September 30,
2014, are free of material misstatement. The independent audit involved examining on a test basis, evidence
supporting the amounts and disclosures in the financial statements; assessing the accounting principles used
and significant estimates made by management; and evaluating the overall financial statement presentation.
The independent auditor concluded, based upon the audit, that there was a reasonable basis for rendering an
unmodified opinion that the City of Colleyville’s financial statements for fiscal year ended September 30,
2014, are presented in conformity with generally accepted accounting principles (GAAP).
As required by GAAP, management provides a narrative introduction, overview and analysis to
accompany the basic financial statements in the form of Management’s Discussion and Analysis
(MD&A). This letter of transmittal is designed to complement the MD&A and should be read in
conjunction with it. The City’s MD&A can be found immediately following the independent auditors
report.
3
100 Main Street Colleyville, Texas 76034 817.503.1000 Colleyville.com
4
PROFILE OF THE GOVERNMENT
On January 10, 1956, the City of Colleyville was incorporated and adopted a home-rule charter on
January 15, 1977. It has a Council-Manager form of government with policy making and legislative
authority vested in a governing body consisting of a Mayor and six Council members. The Mayor and
Council are responsible for passing ordinances, adopting the budget, appointing board and committee
members, and hiring the City Manager. The City Manager is responsible for carrying out the policies
and ordinances of the Mayor and Council, overseeing the day-to-day operations of the City, and
appointing department heads. The Mayor and six Council members are elected on an at large, nonpartisan
basis for three year terms. The three year terms are staggered so that the Mayor and City
Council persons from Place 1 and 2 are elected in year one, City Council persons from Places 3 and 4
are elected in year two, and City Council persons from Places 5 and 6 are elected in year three.
The City provides a full range of municipal services. These services include police and fire protection,
municipal court, streets, drainage utility, leisure services (parks and recreation, Colleyville Center and
library), water and sewer, engineering/community development, and general administrative services.
Based upon the criterion set forth in generally accepted accounting principles, the following
organizations are includable within the City’s reporting entity:
Entity Method of Inclusion
Colleyville Economic Development Corporation (CEDC) Blended
Colleyville Crime Control and Prevention District Blended
Colleyville Tax Investment Financing Reinvestment Zone
Zone Number One (TIF) Discretely Presented
The City Charter of the City of Colleyville establishes the fiscal year as October 1 through September
30. The Charter requires the City Manager to submit a proposed budget and accompanying budget
message to the City Council each year and the proposed budget is presented to the City Council at a
budget work session. After public hearings at two consecutive regular City Council meetings, the
Council may adopt the proposed budget, with or without amendment. The budget ordinance is to be
adopted no later than the 30th day of September and requires an affirmative vote of a majority of the
Council. The City maintains budgetary control by adopting an annual operating budget for the General
Fund, Debt Service Fund, Drainage Utility Fund, and Water and Sewer Enterprise Fund. Detail control
is maintained at the line item level by encumbering available funds at the time a purchase order is
written. Encumbrances lapse at fiscal year-end, but can be re-appropriated through a budget amendment
during the following fiscal year. The City Manager is authorized to transfer budgeted amounts between
departments within any fund. However, any revisions that alter the total expenditures of any fund must
be approved by the City Council.
LOCAL ECONOMY
The City of Colleyville is a residential-oriented community located 11 miles northeast of the City of Fort
Worth, 22 miles northwest of Dallas and 5 miles west of Dallas/Fort Worth International Airport in
Northeast Tarrant County. Relocations of residents to the City continued in fiscal year 2014, as did
commercial development. During the fiscal year, the City issued 108 residential building permits and
the average square footage of a residence was almost five thousand square feet.
5
In Fiscal Year 2014, Whole Foods opened in an existing shopping center which brought additional sales
tax and new tenants to Colleyville. Major transportation projects which were in progress were Phase I
of State Highway 26 / Colleyville Boulevard, the utility relocations for further phases of State Highway
26 / Colleyville Boulevard, and the roundabout at the Jackson Road and Cheek-Sparger Road
intersection. There is also an update to the comprehensive master plan that will include preparation of a
common vision and goals, future land uses, downtown revitalization, transportation, corridor
recommendations for Colleyville Boulevard, coordination with ongoing utility infrastructure planning,
retail opportunities and economic development, and the development of future land use
recommendations.
For the Future. In Fiscal Year 2015, the aforementioned transportation projects will be complete and
improvements to Pleasant Run Road the rehabilitation of Jackson Road and reconstruction of streets in
the Kingston neighborhood, one of Colleyville’s earliest subdivisions. Noted by the many citizens
responding to the 2014 Citizen Survey, trail improvements are a top priority and trail segments will be
constructed on Pleasant Run from Mission Lane to Bogart Drive and the trail spur at the Webb House on
the Cotton Belt Trail. There is also an update to the City Park, improvements and amenities added to the
trail head at L.D. Lockett Park and the Cotton Belt Trail, and a playground at the Pleasant Run soccer
complex.
LONG TERM FINANCIAL PLANNING
In Fiscal Year 2005, the City Council adopted a Fund Balance Policy requiring a ninety day reserve for
fund balance in both the General Fund and the Utility Fund. In Fiscal Year 2011, the policy was
updated to reflect the designations of non-spendable, restricted, committed, assigned and unassigned as
required by GASB 54 and was reviewed for update in Fiscal Year in 2014. At the end of Fiscal Year
2014, both the General Fund and the Utility Fund have a fund balance in excess of the required three
month reserve. Amount in excess of the reserve may be used to fund one-time capital expenditures.
In Fiscal Year 2010, the City Council adopted a strategic plan, which incorporated strategic points to
achieve the City’s vision. In August 2012, Council affirmed and slightly modified the strategic points to
the following:
Make a long-term commitment to economic development and promote a more diversified tax
base
Fostering excellence in core service delivery
Protect and preserve Colleyville’s neighborhoods
Deliver sustainable government
Brand Colleyville with a unique identity
In the area of sustainable government, a long-term Information Systems Management Strategic Plan was
adopted as was the Parks and Recreation Master Plan. These two plans, which were adopted in Fiscal
Year 2011 and Fiscal Year 2012, respectively, identify annual improvements over the next five years
and accompanied by funding sources. In the Fiscal Year 2011 budget, a transition was made to
performance based budgeting, with links to specific performance indicators to measure the efficiency
and effectiveness of service delivery. There is an annual update to the six-year General Fund budget
forecast that is presented to City Council as a part of the budget process.
6
As a part of the Fiscal Year 2008 budget process, the Mayor and Council and City Staff embarked upon
developing a multi-year streets capital improvements program, with input from an appointed citizen
committee that reviewed street infrastructure needs and financing opportunities. In Fiscal Year 2013,
there was an update to this plan and it was expanded to include water, wastewater, drainage, trails, and
sidewalks. The recommendations were incorporated into an infrastructure program that was approved by
Council as a part of the Fiscal Year 2014 budget process.
AWARDS AND ACKNOWLEDGEMENTS
Awards. The Government Finance Officers Association of the United States and Canada (GFOA)
awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Colleyville
for its comprehensive annual financial report for the fiscal year ended September 30, 2013. This was the
twenty fourth consecutive year that the City has received this prestigious award. In order to be awarded
a Certificate of Achievement, a government must publish an easily readable and efficiently organized
comprehensive annual financial report. This report must satisfy both generally accepted accounting
principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current
comprehensive annual financial report continues to meet the Certificate of Achievement Program’s
requirements and we are submitting it to GFOA to determine its eligibility for another certificate.
In addition, the City also received the GFOA’s Distinguished Budget Presentation award for its annual
budget dated October 1, 2013. In order to qualify for this award, the City’s budget document was
judged to be proficient in several categories, including as a policy document, a financial plan, an
operations guide, and a communications device. The City received the silver member designation for the
Texas Comptroller’s Leadership Circle for online financial transparency.
Acknowledgements. The preparation of this report could not be accomplished on a timely basis
without the dedicated endeavors of the entire staff of the Finance Department. We would like to express
our sincere appreciation to all employees who contributed to the preparation. Additionally, we would
also like to thank the Mayor, City Council, and City Manager for their support in planning and
conducting the financial operations of the City in a responsible and progressive manner.
Respectfully submitted,
Terry Leake
Assistant City Manager/Chief Financial Officer
Karen Hines
Finance Manager
7
CITY
COUNCIL
CITIZENS OF COLLEYVILLE
ZONING BOARD
OF
ADJUSTMENT
PLANNING AND
ZONING
COMMISSION
LIBRARY
BOARD
AD HOC
COMMITTEES
PARKS AND
RECREATION
BOARD
SIGN BOARD
OF APPEALS
CRIME
CONTROL AND
PREVENTION
DISTRICT
TAX
INCREMENT
FINANCING
DISTRICT
CITY
MANAGER
Jennifer Fadden
CITY ATTORNEY
Matthew Boyle
MUNICIPAL
JUDGE
Michael Newman
COLLEYVILLE CENTER
MANAGER
Leslie Hill
HUMAN RESOURCES
DIRECTOR
Michelle Reyes
LIBRARY, PARKS AND
RECREATION
DIRECTOR
Mary Rodne
COMMUNICATIONS
DIRECTOR
Mona Gandy
COMMUNITY
DEVELOPMENT
DIRECTOR
Ron Ruthven
ASSISTANT CITY
MANAGER/
CHIEF FINANCIAL
OFFICER
Terry Leake
POLICE CHIEF
Michael Holder
ECONOMIC
DEVELOPMENT
DIRECTOR
Marty Wieder
PUBLIC
WORKS
DIRECTOR
Bob Lowry
FIRE CHIEF
Brian Riley
FINANCE MANAGER
Karen Hines
CITY SECRETARY
Amy Shelley
WATER AND WASTEWATER OPERATIONS
STREET MAINTENANCE
DRAINAGE
BUILDING MAINTENANCE
FLEET MAINTENANCE
ENGINEERING & CONSTRUCTION INSPECTION
OPERATIONS
INSPECTIONS
INVESTIGATIONS
EMERGENCY MANAGEMENT
UTILITY BILLING
MUNICIPAL COURT
PATROL
INVESTIGATIONS
CODE ENFORCEMENT
BUILDING INSPECTION
PLANNING
INFORMATION
SERVICES MANAGER
Chris Pena
MARKETING
STRATEGIC SERVICES
MANAGER
Adrienne Lothery
GIS
COLLEYVILLE
ECONOMIC
DEVELOPMENT
CORPORATION
8
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Colleyville
Texas
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
September 30, 2013
9
CITY OF COLLEYVILLE, TEXAS
HOME RULE, COUNCIL – MANAGER
FORM OF GOVERNMENT
CITY OFFICIALS
YEAR ENDED SEPTEMBER 30, 2014
David Kelly
Mayor
Carol Wollin
Councilmember, Place 1
Chuck Mogged
Councilmember, Place 2
Chris Putnam
Councilmember, Place 3
Jody Short
Councilmember, Place 4
Tom Hart
Councilmember, Place 5
Mike Taylor
Mayor Pro Tem and
Councilmember, Place 6
Jennifer Fadden
City Manager
Terry Leake
Assistant City Manager/Chief Financial Officer
Karen Hines
Finance Manager
10
THIS PAGE INTENTIONALLY LEFT BLANK
11
FINANCIAL SECTION
12
THIS PAGE INTENTIONALLY LEFT BLANK
INDEPENDENT AUDITORS’ REPORT
To the Honorable Mayor and
Members of the City Council
City of Colleyville, Texas
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities, the
business-type activities, the discretely presented component unit, each major fund, and the aggregate
remaining fund information of City of Colleyville, Texas, as of and for the year ended September 30,
2014, and the related notes to the financial statements, which collectively comprise the City of
Colleyville, Texas’ basic financial statements as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements
in accordance with accounting principles generally accepted in the United States of America; this
includes the design, implementation, and maintenance of internal control relevant to the preparation and
fair presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
Auditors’ Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We
conducted our audit in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial statements are free from
material misstatement.
13
14
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor’s judgment,
including the assessment of the risks of material misstatement of the financial statements, whether due to
fraud or error. In making those risk assessments, the auditor considers internal control relevant to the
entity’s preparation and fair presentation of the financial statements in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also
includes evaluating the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects,
the respective financial position of the governmental activities, the business-type activities, the discretely
presented component unit, each major fund, and the aggregate remaining fund information of the City of
Colleyville, Texas, as of September 30, 2014, and the respective changes in financial position, and,
where applicable, cash flows thereof and the respective budgetary comparison for the General Fund, for
the year then ended in accordance with accounting principles generally accepted in the United States of
America.
Change in Accounting Principle
As discussed in Note I to the financial statements, in 2014 the City adopted new accounting
guidance, GASB Statement No. 65, Items Previously Reported as Assets and Liabilities. Our opinion is
not modified with respect to this matter.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the
management’s discussion and analysis on pages 19-27 and the Schedule of Funding Progress for the
Texas Municipal Retirement System on page 71 be presented to supplement the basic financial
statements. Such information, although not a part of the basic financial statements, is required by the
Governmental Accounting Standards Board, who considers it to be an essential part of financial
reporting for placing the basic financial statements in an appropriate operational, economic, or historical
context. We have applied certain limited procedures to the required supplementary information in
accordance with auditing standards generally accepted in the United States of America, which consisted
of inquiries of management about the methods of preparing the information and comparing the
information for consistency with management’s responses to our inquiries, the basic financial
statements, and other knowledge we obtained during our audit of the basic financial statements. We do
not express an opinion or provide any assurance on the information because the limited procedures do
not provide us with sufficient evidence to express an opinion or provide any assurance.
15
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the City of Colleyville, Texas’ basic financial statements. The introductory section,
combining and individual nonmajor fund financial statements and schedules, and statistical section, are
presented for purposes of additional analysis and are not a required part of the basic financial statements.
The combining and individual nonmajor fund financial statements and schedules are the
responsibility of management and were derived from and relate directly to the underlying accounting and
other records used to prepare the basic financial statements. Such information has been subjected to the
auditing procedures applied in the audit of the basic financial statements and certain additional
procedures, including comparing and reconciling such information directly to the underlying accounting
and other records used to prepare the basic financial statements or to the basic financial statements
themselves, and other additional procedures in accordance with auditing standards generally accepted in
the United States of America. In our opinion, the combining and individual nonmajor fund financial
statements and schedules are fairly stated in all material respects in relation to the basic financial
statements as a whole.
The introductory and statistical sections have not been subjected to the auditing procedures
applied in the audit of the basic financial statements and, accordingly, we do not express an opinion or
provide any assurance on them.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated
January 27, 2015, on our consideration of the City of Colleyville, Texas’ internal control over financial
reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and
grant agreements and other matters. The purpose of that report is to describe the scope of our testing of
internal control over financial reporting and compliance and the results of that testing, and not to provide
an opinion on internal control over financial reporting or on compliance. That report is an integral part of
an audit performed in accordance with Government Auditing Standards in considering City of
Colleyville, Texas’ internal control over financial reporting and compliance.
Waco, Texas
January 27, 2015
16
THIS PAGE INTENTIONALLY LEFT BLANK
17
MANAGEMENT’S
DISCUSSION AND ANALYSIS
18
THIS PAGE INTENTIONALLY LEFT BLANK
19
Management’s Discussion and Analysis
As management of the City of Colleyville, we offer readers of the City’s financial statement this
narrative overview and analysis of the financial activities of the City for the fiscal year ended September
30, 2014. We encourage readers to consider the information presented here in conjunction with
additional information that we have furnished in our letter of transmittal, which can be found on pages 3
– 6 of this report.
FINANCIAL HIGHLIGHTS
The assets of the City of Colleyville exceeded its liabilities as of September 30, 2014,
by $181,580,171 (net position). Of this amount, $32,758,533 (unrestricted net
position) may be used to meet the City’s ongoing obligations to citizens and creditors
in accordance with the City’s fund designation and fiscal policies.
The City’s total net position increased by $12,643,668.
As of the close of the current fiscal year, the City of Colleyville’s governmental funds
reported combined ending fund balances of $36,026,409. Of this amount,
$10,080,617 is unassigned fund balance available for use within the City’s fund
designation and fiscal policies.
As of September 30, 2014, unreserved, unassigned fund balance for the General Fund
was $10,080,617 or 54.4% of the total General Fund budgeted expenditures and other
financing uses.
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the City’s basic financial
statements. The City’s basic financial statements are comprised of three components: (1) governmentwide
financial statements, (2) fund financial statements and (3) notes to the financial statements. This
report also contains other supplementary information in addition to the basic financial statements
themselves.
Government-wide financial statements – The government-wide financial statements, which begin on
page 30 of this report, are designed to provide readers with a broad overview of the City’s finances, in a
manner similar to a private-sector business.
The Statement of Net Position presents information on all of the City’s assets, liabilities, and deferred
inflows/outflows of resources, with the difference between the two reported as net position. Over time,
increases or decreases in net position may serve as a useful indicator of whether the financial position of
the City is improving or deteriorating.
The Statement of Activities presents information showing how the City’s net position changed during
the fiscal year. All changes in net position are reported when the underlying event giving rise to the
change occurs, regardless of the timing of related cash flows.
20
Thus, revenues and expenses are reported in this statement for some items that will only result in cash
flows in the future fiscal periods (e.g., uncollected taxes and earned but unused compensated absences).
Both of the government-wide financial statements distinguish functions of the City that are principally
supported by taxes and intergovernmental revenues (governmental activities) from functions that are
intended to recover all or a significant portion of their costs through user fees and charges (business-type
activities). The governmental activities of the City include General Government, Community
Development and Engineering, Fire and Rescue, Leisure Services, Maintenance, Municipal Court,
Police, and Streets and Drainage. The business-type activities of the City include Water and
Wastewater, and Drainage Utility.
Fund financial statements – A fund is a grouping of related accounts that is used to maintain control
over resources that have been segregated for specific activities or objectives. The City, like other state
and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related
legal requirements. All funds of the City can be divided into two categories – governmental funds and
proprietary funds.
Governmental Funds – Governmental funds are used to account for essentially the same functions
reported as governmental activities in the government-wide financial statements. However, unlike the
government-wide financial statements, governmental fund financial statements focus on current sources
and uses of spendable resources, as well as on balances of spendable resources available at the end of
the fiscal year. Such information may be useful in evaluating a government’s near-term financing
requirements.
Because the focus of governmental funds is narrower than that of the government-wide financial
statements, it is useful to compare the information presented for governmental funds with similar
information presented for governmental activities in the government-wide financial statements. By
doing so, readers may better understand the long-term impact of the government’s near-term financing
decisions. Both the governmental funds balance sheet and the governmental fund statements of
revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this
comparison between governmental funds and governmental activities.
Beginning on page 34 of this report, information is presented separately in the Governmental Fund
Balance Sheet and in the Governmental Fund Statement of Revenues, Expenditures, and Changes in
Fund Balances for the General Fund, Capital Projects and Debt Service Fund, all of which are
considered to be major funds. Data from the other governmental funds are combined into a single,
aggregated presentation. Individual fund data for each of these non-major governmental funds is
provided in the form of combining statements elsewhere in this report.
Proprietary Funds – The City maintains one type of proprietary fund. Enterprise Funds are used to
report the same functions presented as business-type activities in the government-wide financial
statements. The City uses Enterprise Funds to account for the Water and Wastewater and Drainage
Utility Funds.
Proprietary funds provide the same type of information as the government-wide financial statements,
only in more detail. The basic proprietary fund financial statements which begin on page 40 of this
report provide separate information for the Water and Wastewater and Drainage Utility Enterprise Funds
since these are considered to be major funds of the City.
Notes to the Financial Statements – The notes provide additional information that is essential to a full
understanding of the data provided in the government-wide and fund financial statements. The notes to
the financial statements can be found on pages 45 – 68 of this report.
21
Other Information – In addition to the basic financial statements and accompanying notes, this report
also presents combining fund statements and schedules that further support the information in the
financial statements. The combining fund statements and schedules for nonmajor funds are presented
immediately following the notes to the financial statements beginning on page 74 of this report.
GOVERNMENTAL-WIDE FINANCIAL ANALYSIS
As noted earlier, net position may serve over time as a useful indicator of government’s financial
position. In the case of the City of Colleyville, assets exceeded liabilities by $181,580,171 as of
September 30, 2014.
The largest portion of the City’s net position ($131,321,212) reflects its investments in capital assets
(e.g., land, building, equipment, improvements, construction in progress and infrastructure), less any
outstanding debt used to acquire those assets. The City uses these capital assets to provide service to
citizens; consequently, these assets are not available for future spending. Although the City’s
investment in its capital assets is reported net of related debt, it should be noted that the resources
needed to repay this debt must be provided from other sources, since the capital assets themselves
cannot be used to liquidate these liabilities.
CITY OF COLLEYVILLE’S NET POSITION
2014 2013 2014 2013 2014 2013
Current and other assets $ 38,081,951 $ 34,107,679 $ 16,207,650 $ 15,392,384 $ 54,289,601 $ 49,500,063
Capital assets 105,718,089 101,978,118 43,861,991 42,436,223 149,580,080 144,414,341
Total assets 143,800,040 136,085,797 60,069,641 57,828,607 203,869,681 193,914,404
Deferred outflow of resources – – 116,835 – 116,835 –
Total deferred outflow
of resources – – 116,835 – 116,835 –
Other liabilities 3,511,944 3,413,370 2,100,979 2,600,746 5,612,923 6,014,116
Long-term liabilities 15,102,680 16,461,152 1,690,742 2,255,194 16,793,422 18,716,346
Total liabilities 18,614,624 19,874,522 3,791,721 4,855,940 22,406,345 24,730,462
Net position:
Net investment in
capital assets 89,754,051 84,414,252 41,567,161 39,269,943 131,321,212 123,684,195
Restricted 17,500,426 13,116,403 – – 17,500,426 13,116,403
Unrestricted 17,930,939 18,680,620 14,827,594 13,702,724 32,758,533 32,383,344
Total net position $ 125,185,416 $ 116,211,275 $ 56,394,755 $ 52,972,667 $ 181,580,171 $ 169,183,942
Governmental Activities Business-type Activities Totals
A portion of the City’s net position ($17,500,426) represents resources that are subject to external
restriction on how they may be used. The remaining balance ($32,758,533) of unrestricted net position
may be used to meet the City’s ongoing obligation to citizens and creditors in accordance with the City’s
fund designation and fiscal policies.
As of September 30, 2014, the City has positive balances in all three categories of net position, both for
the City as a whole, as well as for its governmental and business-type activities separately. The increase
of $9,132,953 in net position relating to governmental activities is primarily due to the acquisition of
infrastructure improvements from developer contributions, increases in cash due to increases in sales
tax, property tax, and building related revenues, and repayment of long term debt. The increase in net
position of business type activities ($3,510,715) is related to the contributions of water and sewer
infrastructure improvements from developers, repayment of long term debt and from water sales, as a
tiered rate structure has been in place since December 2012, whereby customers who have monthly use
greater than 20,000 gallons pay higher rates in increasing tiers.
22
Analysis of the City’s Operations – The following table provides a summary of the City’s operations
for the year ended September 30, 2014. Governmental activities increased the City of Colleyville’s net
position by $9,132,953. Business-type activities contributed an increase to the City’s net position of
$3,510,715.
CITY OF COLLEYVILLE’S CHANGES IN NET POSITION
2014 2013 2014 2013 2014 2013
Revenues:
Program revenues:
Charges for services $ 3,977,375 $ 3,410,235 $ 15,729,482 $ 15,590,354 $ 19,706,857 $ 19,000,589
Operating grants
and contributions 486,869 468,361 – – 486,869 468,361
Capital grants
and contributions 5,943,465 1,158,050 2,707,835 876,660 8,651,300 2,034,710
General revenues:
Ad valorem taxes 12,950,832 12,497,692 – – 12,950,832 12,497,692
Sales taxes 6,472,195 5,902,557 – – 6,472,195 5,902,557
Franchise taxes 2,172,801 2,074,731 – – 2,172,801 2,074,731
Other taxes 98,160 68,592 – – 98,160 68,592
Investment earnings 39,697 77,269 23,655 38,987 63,352 116,256
Miscellaneous 61,643 85,562 – – 61,643 85,562
Gain on sale of
capital assets 810,020 – 40,814 103,437 850,834 103,437
Total revenues 33,013,057 25,743,049 18,501,786 16,609,438 51,514,843 42,352,487
Expenses:
General government 4,103,928 4,075,001 – – 4,103,928 4,075,001
Community development
and engineering 1,613,311 1,429,755 – – 1,613,311 1,429,755
Fire and rescue 4,625,036 4,529,225 – – 4,625,036 4,529,225
Leisure services 3,776,068 4,106,822 – – 3,776,068 4,106,822
Maintenance 575,696 494,545 – – 575,696 494,545
Municipal court 501,604 586,709 – – 501,604 586,709
Police 5,019,343 4,961,444 – – 5,019,343 4,961,444
Streets and drainage 4,128,365 5,322,510 – – 4,128,365 5,322,510
Water and wastewater – – 13,238,893 12,544,530 13,238,893 12,544,530
Drainage – – 571,886 707,647 571,886 707,647
Interest on
long-term debt 717,045 724,458 – – 717,045 724,458
Total expenses 25,060,396 26,230,469 13,810,779 13,252,177 38,871,175 39,482,646
Increases in net position
before transfers 7,952,661 ( 487,420) 4,691,007 3,357,261 12,643,668 2,869,841
Transfers 1,180,292 1,112,540 ( 1,180,292) ( 1,112,540) – –
Change in net position 9,132,953 625,120 3,510,715 2,244,721 12,643,668 2,869,841
Net position, beginning 116,211,275 115,586,155 52,972,667 50,727,946 169,183,942 166,314,101
Prior period adjustments ( 158,812) – ( 88,627) – ( 247,439) –
Net position, ending $ 125,185,416 $ 116,211,275 $ 56,394,755 $ 52,972,667 $ 181,580,171 $ 169,183,942
Governmental Activities Business-type Activities Totals
23
FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS
Governmental funds – The focus of the City of Colleyville’s governmental funds is to provide
information on near-term inflows, outflows, and balances of spendable resources. Such information is
useful in assessing the City’s financing requirements. In particular, unassigned fund balance may serve
as a useful measure of a government’s net resources available for spending at the end of the fiscal year.
At the end of the current fiscal year, the City of Colleyville’s governmental funds reported combined
ending fund balances of $36,026,409. Approximately 28% of this total amount ($10,080,617)
constitutes unassigned fund balance. The remainder of the fund balance ($25,945,792 ) is reserved to
indicate that it is not available for new spending because it has already been committed to pay for
encumbrances or debt service or to provide for other items. Refer to page 34 of this report for a more
detailed presentation of governmental fund balances.
The decrease of approximately $921,000 in unassigned fund balance in the governmental funds for
fiscal year 2014 is due to a number of the following factors. In the General Fund, the City’s original
budgeted expenditures exceeded budgeted revenues by $(996,880), due to a planned utilization of
$1,000,000 surplus fund balance in the adopted Fiscal Year 2014 General Fund budget to fund a portion
of the $2.9 million street rehabilitation budget, which included a one-time increase of $500,000. This
planned utilization of fund balance in the General Fund was included in the ten year financial forecast,
and the fiscal year 2014 ending fund balance is greater than the three month policy requirement. The
actual decrease to fund balance for the General Fund was ($926,589) for Fiscal Year 2014, primarily due
to greater than anticipated revenues from sales taxes, ambulance revenues, building permits, property
taxes and reductions to overall departmental expenditures. This was $73,411 less than the adopted
utilization of $1 million surplus fund balance in the Fiscal Year 2014 budget. Also included was City
Council approved authorization to provide for a transfer of unspent street maintenance funds at the end
of the fiscal year ($1,903,179) and the authorized transfer of the difference in total revenues and
expenditures of the General Fund to the Capital Projects Fund ($3,308,352) for use in future CIP street
rehabilitation projects and other capital projects. This transfer was funded by the revenue increases
beyond budgeted revenues, the gain of over $800,000 on the sale of the land where the former City Hall
was located, which was not anticipated during Fiscal Year 2014 budget adoption. The aforementioned
year end transfers to the Capital Projects Fund resulted in a net increase of $3,755,890 to that fund
balance, and will be used for future street capital projects. As the aforementioned transfers from the
General Fund to the Capital Projects Fund were contained within funds that are in the governmental
fund classification, there was not a major increase or decrease reflected in the unrestricted total for
governmental funds. Additionally, there was a utilization of $152,666 of surplus fund balance in the
adopted Fiscal Year 2014 Debt Service budget for the second year lease payment on the radio tower and
equipment due to the current level of existing fund balance and declining future debt obligations. The
actual Fiscal Year 2014 decrease to fund balance for the Debt Service Fund was ($29,133) due to greater
than anticipated property tax collections.
Proprietary funds – The City’s proprietary fund statements beginning on page 40 of this report provide
the same type of information found in the government-wide financial statements, but in more detail.
Unrestricted net position of the respective major proprietary funds are Water and Wastewater
($13,291,151), and Drainage Utility ($1,536,443). The Water and Wastewater Fund experienced an
increase in total net position of $3,160,217 during Fiscal Year 2014 due to revenue from the pass
through of the Trinity River Authority wastewater rate increase and the receipt of developer
contributions from the ten new subdivisions, which accounted for approximately $2.4 million. The
Drainage Utility fund’s net position increased by $350,498, due to increased service charge revenue
from new accounts and reductions to expenditures.
24
Governmental Activities – There was an increase in revenues from sales tax due to improving
economic conditions and the capital grants category from increased developer contributions and impact
fees stemming from new development and the addition of ten subdivisions in Colleyville in FY 2014.
There was an increase in license and permit revenues due to an increase of 5 residential building permits
from FY 2013 and additional commercial construction. The property tax base increased approximately
$124 million (3.3%), due to the new residential and commercial construction, and the current year tax
collection rate was over 99.68% of the levy.
In FY 2013, there was a compensation and classification study performed. There was funding in the
Fiscal Year 2014 budget, for bringing employees to the market minimum at a maximum of ten percent
of current salary. There was the addition of three firefighter/paramedics, one police property room clerk
and a plans examiner. There was additional funding of $.5 million in the Street department for the street
overlay budget, which would overlay approximately two miles of city streets. Also, major capital
equipment to be used by the Public Works department was acquired, replacement of audio-video
equipment throughout the City, and an update to the comprehensive master plan.
Business-type Activities – The City has two enterprise operations, the Water and Wastewater Fund and
the Drainage Utility Fund. Total operating revenues of the Water and Sewer fund were $14,789,614 for
the fiscal year. Water revenues decreased due to Stage 1 restrictions due to drought conditions that
limited outdoor watering to two days a week. Wastewater revenues increased due to a rate increase in
December 2013, which passed through a rate increase from the Trinity River Authority, the City’s
provider of treated wastewater. The coverage ratio for debt for this fund was 4.25 for the fiscal year,
exclusive of transfers. The slight increase in the Drainage Utility Fund’s revenues was due to new
residential and commercial construction.
Increases in the Water and Wastewater Fund expenses relate to the increase in cost of purchased water and
treatment of wastewater from Trinity River Authority. The Authority’s rate increase relates to higher cost
for electricity, debt issuance for plant expansion and rehabilitation of aging infrastructure, replacement of
system-wide aging infrastructure and compliance with federal water and wastewater mandates.
General Fund Budgetary Highlights – The City made revisions to the original appropriations
approved by the City Council which resulted in an increase to the General Fund budget of $245,000 for
transfers to the Capital Projects Funds ($200,000) for future expenditures for the SH 26 reconstruction
and ($45,000) to the Capital Equipment Replacement Fund for building inspection software. Also
included with this revision was a City Council adopted authorization to transfer unspent street
resurfacing appropriations to the Capital Projects fund and the difference between total revenues and
expenses for future street capital projects ($3,308,352). This transfer was funded primarily by the
receipt of higher than anticipated sales tax, permit revenues, property tax collections, inspection fees
from the ten new subdivisions, ambulance collections, the revenue from the sale of land of former City
Hall site, and lower than anticipated expenditures due to vacancies. This accounted for the variance in
transfers out from the adopted budget.
In Fiscal Year 2013, there was a compensation and classification study performed. There are funds
included in the Fiscal Year 2014 budget, for bringing employees to the market minimum at a maximum
of ten percent of current salary. Additionally, there was the addition of three firefighter/paramedics, one
police property room clerk, and plans examiner. The level of funding for street maintenance and
rehabilitation was increased by $500,000 to $2.9 million to address needs on the City’s streets.
25
The General Fund’s overall budgeted revenue increased by $1,724,059. Major increases in General
Fund property taxes are due to the declining allocation of the interest and sinking fund rate (Debt
Service portion) to repayment of debt and an increase to the operations and maintenance portion of the
rate (General fund portion), as the total tax rate was unchanged from the prior year. There was a
budgetary and actual increase in sales tax revenue due to improving economic conditions and the
opening of Whole Foods in July 2014. Also, revenue increases were derived from the increase in the
transfer from the Utility Fund for the administrative and franchise fee that is based upon prior year’s
operating revenues due to the implementation of tiered water rates in Fiscal Year 2013. Also included is
the $1,000,000 drawdown of General Fund balance, which funded the increase in the street overlay
budget.
Refer to the General Fund Statement of Revenue, Expenditures and Changes in Fund Balances – Budget
and Actual on page 39 of this report for a detailed presentation of the actual General Fund operations
compared to both the original and final budget for fiscal year 2014.
CAPITAL ASSETS
The City of Colleyville’s investment in capital assets for its governmental and business-type activities as
of September 30, 2014, amounts to $149,580,080 (net of accumulated depreciation). This investment in
capital assets includes land, building, equipment, improvements other than buildings, infrastructure, and
construction work in progress. Major capital asset events occurring during the current fiscal year
included the following:
Capitalized almost $4.9 million in street improvements and developer contributions,
primarily with the completion of ten new subdivisions.
Capitalized approximately $2.4 million in water and wastewater system developer
contributions and,
Capitalized approximately $125,000 in park improvements.
CITY OF COLLEYVILLE’S CAPITAL ASSETS AT YEAR-END
2014 2013 2014 2013 2014 2013
Land $ 9,178,641 $ 9,293,654 $ 304,839 $ 304,839 $ 9,483,480 $ 9,598,493
Buildings and improvements 46,132,834 45,763,755 53,922 53,922 46,186,756 45,817,677
Equipment 10,773,596 10,806,868 2,133,927 1,981,088 12,907,523 12,787,956
Infrastructure/water
distribution sewer collection 84,231,649 79,371,164 72,218,901 69,730,952 156,450,550 149,102,116
Construction in progress 3,831,697 1,796,099 1,715,997 1,114,303 5,547,694 2,910,402
Less: accumulated
depreciation ( 48,430,328) ( 45,053,422) ( 32,565,595) ( 30,748,881) ( 80,995,923) ( 75,802,303)
Total capital assets $ 105,718,089 $ 101,978,118 $ 43,861,991 $ 42,436,223 $ 149,580,080 $ 144,414,341
Governmental Activities Business-type Activities Totals
Additional information on the City’s capital assets can be found in Note 4, pages 57 – 59 of this report.
26
DEBT ADMINISTRATION
At the end of the current fiscal year, the City of Colleyville had total bonded debt, notes payable and
capital lease obligations of $18,189,038. Of this amount, $7,660,000 represents bonded debt backed by
the full faith and credit of the government, $7,330,000 represents bonds secured by sales tax revenues,
$1,310,000 represents bonds secured solely by water and sewer revenues, and $915,000 represents
bonds secured solely by drainage utility system revenues. The City’s capitalized lease obligations of
$974,038 pertain to the prior year lease purchase of a fire pumper truck and mid-mount aerial platform
fire apparatus, and P25 radio tower and equipment conversion.
OUTSTANDING DEBT AT YEAR-END
BONDS, NOTES AND CAPITALIZED LEASE OBLIGATIONS PAYABLE
2014 2013 2014 2013 2014 2013
General obligation bonds
and certificates of
obligation $ 7,660,000 $ 8,675,000 $ – $ – $ 7,660,000 $ 8,675,000
Sales tax revenue bonds 7,330,000 7,600,000 – – 7,330,000 7,600,000
Revenue bonds payable – – 2,225,000 3,220,000 2,225,000 3,220,000
Capitalized lease
obligations 974,038 1,301,624 – – 974,038 1,301,624
$ 15,964,038 $ 17,576,624 $ 2,225,000 $ 3,220,000 $ 18,189,038 $ 20,796,624
Governmental Activities Business-type Activities Totals
The City’s General Obligation, Tax and Water Works and Sewer System Certificates of Obligation, and
Water Works and Sewer System Revenue Bond ratings are listed below.
Standard
Fitch ICBA & Poor’s
General Obligation Bonds AAA AAA
Water Revenue Bonds AAA AAA
During Fiscal Year 2014, the City retained its existing General Obligation bond ratings during the
biannual ratings surveillance process conducted by the rating agencies. The City’s Water Revenue
bonds were upgraded to AAA by Standard & Poor’s and Fitch Ratings reaffirmed their existing AAA
rating. These are the highest bond ratings assigned to municipal debt by both agencies. Additional
information on the City of Colleyville’s long term-debt can be found in footnote 4 on pages 60 – 65 of
this report.
27
ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS AND RATES
The Fiscal Year 2015 General Fund budget including transfers is based on a projected revenue increase
of 7.1% as compared to the Fiscal Year 2014 adopted budget. There is a 7.2% increase projected in
General Fund property tax revenue, due to a declining portion of the total tax rate committed to debt
service repayment (interest and sinking portion) thereby increasing the amount allocated to the General
Fund (operations and maintenance portion), and a 4.7% increase in valuation. This is the largest
revenue source and comprises 54% of General Fund revenues. The total tax rate for Fiscal Year 2015 is
$.3559, which is unchanged since Fiscal Year 2008. Approximately 14% of General Fund revenues are
sales taxes, budgeted at a 11.3% increase over the Fiscal Year 2014 budget, due to improving economic
conditions and the recent opening of Whole Foods. There continues to be planned utilization of
$1,000,000 surplus fund balance in the adopted Fiscal Year 2015 General Fund budget to provide
funding for a portion of the $3.0 million street rehabilitation budget. Additionally, there is a utilization
of $152,666 of fund balance in the adopted Fiscal Year 2015 Debt Service budget for the third year lease
payment on the radio tower and equipment due to the current level of existing fund balance. The use of
unassigned fund balance in both funds is contained in the ten year financial plan.
In FY 2013, there was a compensation and classification study performed. There continues to be
funding included in the Fiscal Year 2015 budget, for bringing the remaining employees to the market
minimum at a maximum of ten percent of current salary. Additionally, there is the addition of three
firefighter/paramedics, one police officer, and an economic development coordinator. There are
technology audio visual upgrades planned for the Municipal Courtroom and Police briefing room and
the first phase of a fiber connectivity project between City buildings, to reduce the need for third party
leased fiber.
Slight revenue growth in the Water and Wastewater Fund will come from additional residential and
commercial customers and the continued use of a tiered water rate structure. There was also the
incorporation of the pass through of projected Trinity River Authority (TRA) rate increases to maintain
the financial stability of the Water and Wastewater Fund in future years.
REQUEST FOR INFORMATION
The financial report is designed to provide our citizens, customers, investors and creditors with a general
overview of the City’s finances. If you have questions about this report or need any additional
information, contact Terry Leake, Assistant City Manager/Chief Financial Officer, at 100 Main Street,
Colleyville, Texas 76034, or call (817) 503-1115.
28
THIS PAGE INTENTIONALLY LEFT BLANK
29
BASIC
FINANCIAL STATEMENTS
Governmental
Activities
Business-type
Activities
ASSETS
Cash and equivalents $ 20,516,799 $ 5,064,510
Investments 15,865,130 7,117,823
Receivables (net of allowances for uncollectibles of $341,247)
Accounts 83,105 2,517,940
Property taxes 177,656 –
Loans 200,000 –
Due from other governments 1,221,332 –
Inventories 1,269 135,391
Accrued interest 16,660 9,258
Restricted assets:
Cash and equivalents 1,362,728
Capital assets:
Land 9,178,641 304,839
Buildings and improvements 46,132,834 53,922
Equipment 10,773,596 2,133,927
Infrastructure/water distribution/sewer collection 84,231,649 72,218,901
Construction in progress 3,831,697 1,715,997
Less: accumulated depreciation ( 48,430,328) ( 32,565,595)
Total capital assets 105,718,089 43,861,991
Total assets 143,800,040 60,069,641
DEFERRED OUTFLOWS OF RESOURCES
Deferred charge on refunding – 116,835
Total deferred outflows of resources – 116,835
LIABILITIES
Accounts payable 1,169,762 795,424
Accrued liabilities 374,439 47,962
Unearned revenues 827 –
Accrued interest payable 99,086 13,967
Advances from developers 193,442 69,000
Escrow funds – 26,613
Customer deposits 65,098 442,785
Noncurrent liabilities:
Due within one year 1,609,290 705,228
Due in more than one year 15,102,680 1,690,742
Total liabilities 18,614,624 3,791,721
NET POSITION
Net investment in capital assets 89,754,051 41,567,161
Restricted:
Debt service 831,073 –
Court security and technology 109,766 –
Grant programs 9,190 –
Leisure services 224,064 –
Economic development 2,733,995 –
Streets and drainage 12,188,836 –
Police 1,403,502 –
Unrestricted 17,930,939 14,827,594
Total net position $ 125,185,416 $ 56,394,755
The accompanying notes are an integral part of these financial statements.
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF NET POSITION
SEPTEMBER 30, 2014
30
Total Component Units
$ 25,581,309 17,473,529
22,982,953 376,099
2,601,045 –
177,656 –
200,000 –
1,221,332 –
136,660 –
25,918 414
1,362,728 –
9,483,480 1,845,976
46,186,756 –
12,907,523 –
156,450,550 8,055,352
5,547,694 –
( 80,995,923) ( 221,374)
149,580,080 9,679,954
203,869,681 27,529,996
116,835 26,120
116,835 26,120
1,965,186 456,744
422,401 –
827 –
113,053 15,394
262,442 –
26,613 –
507,883 –
2,314,518 565,000
16,793,422 3,209,876
22,406,345 4,247,014
131,321,212 5,905,078
831,073 –
109,766 –
9,190 –
224,064 –
2,733,995 –
12,188,836 –
1,403,502 –
32,758,533 17,404,024
$ 181,580,171 $ 23,309,102
31
Functions/Programs Expenses Charges for Services
Operating Grants
and Contributions
Capital Grants and
Contributions
Primary government
Governmental activities:
General government $ 4,103,928 $ 15,000 $ 8 ,449 $ –
Community development 1,613,311 1,387,329 – –
Fire and rescue 4,625,036 377,021 1 1,030 –
Leisure services 3,776,068 510,991 3 66,741 511,449
Maintenance 575,696 – – –
Municipal court 501,604 1,268,447 – –
Police 5,019,343 71,022 1 00,649 –
Streets and drainage 4,128,365 347,565 – 5,432,016
Interest on long-term debt 717,045 – – –
Total governmental activities 25,060,396 3,977,375 4 86,869 5,943,465
Business-type activities:
Water and wastewater 13,238,893 14,789,614 – 2,707,835
Drainage 571,886 939,868 – –
Total business-type activities 13,810,779 15,729,482 – 2,707,835
Total primary government $ 38,871,175 $ 19,706,857 $ 4 86,869 $ 8,651,300
Component unit
Tax increment financing $ 799,787 $ – $ – $ –
Total component unit $ 799,787 $ – $ – $ –
General revenues:
Taxes:
Property taxes, levied for general purposes
Property taxes, levied for debt service
TIF taxes
Sales taxes
Franchise taxes
Other taxes
Investment earnings
Miscellaneous
Gain on sale of capital assets
Transfers
Total general revenues and transfers
Change in net position
Net position – beginning
Prior period adjustment
Net position – ending
The accompanying notes are an integral part of these financial statements.
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Program Revenue
32
Governmental
Activities
Business-type
Activities Total Component Units
$( 4,080,479) $ – $( 4,080,479) $ –
( 225,982) – ( 225,982) –
( 4,236,985) – ( 4,236,985) –
( 2,386,887) – ( 2,386,887) –
( 575,696) – ( 575,696) –
766,843 – 766,843 –
( 4,847,672) – ( 4,847,672) –
1,651,216 – 1,651,216 –
( 717,045) – ( 717,045) –
( 14,652,687) – ( 14,652,687) –
– 4 ,258,556 4,258,556 –
– 3 67,982 367,982 –
– 4 ,626,538 4,626,538 –
( 14,652,687) 4 ,626,538 ( 10,026,149) –
– – – ( 799,787)
– – – ( 799,787)
11,800,735 – 11,800,735 –
1,150,097 – 1,150,097 –
– – – 4,756,672
6,472,195 – 6,472,195 –
2,172,801 – 2,172,801 –
98,160 – 98,160 –
39,697 2 3,655 63,352 11,142
61,643 – 61,643 –
810,020 4 0,814 850,834 –
1,180,292 ( 1 ,180,292) – –
23,785,640 ( 1 ,115,823) 22,669,817 4,767,814
9,132,953 3 ,510,715 12,643,668 3,968,027
116,211,275 5 2,972,667 169,183,942 19,409,147
( 158,812) ( 8 8,627) ( 247,439) ( 68,072)
$ 125,185,416 $ 5 6,394,755 $ 181,580,171 $ 23,309,102
Net (Expense) Revenue and Changes in Net Position
Primary Government
33
General Capital Projects Debt Service
ASSETS
Cash and cash equivalents $ 3,276,418 $ 8,546,621 $ 902,356
Investments 7,848,839 4,316,555 –
Receivables (net of allowances for uncollectibles)
Accounts 83,105 – –
Taxes 149,987 – 27,669
Loans 200,000 – –
Due from other governments 642,282 – 134
Inventories 1,269 – –
Accrued interest 9,542 3,230 –
Total assets $ 12,211,442 $ 12,866,406 $ 930,159
LIABILITIES
Accounts payable $ 622,166 $ 545,400 $ –
Accrued liabilities 356,076 – –
Unearned revenue 827 – –
Advances from developers 47,548 132,170 –
Customer deposits 65,098 – –
Total liabilities 1,091,715 677,570 –
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue – property taxes 149,987 – 27,669
Unavailable revenue – municipal fines 15,813 – –
Unavailable revenue – ambulance fees 58,505 – –
Total deferred inflows of resources 224,305 – 27,669
FUND BALANCES
Non-spendable:
Inventories 1,269 – –
Restricted:
Streets and drainage – 12,188,836 –
Debt service – – 902,490
Court security and technology – – –
Grant programs – – –
Leisure services – – –
Economic development – – –
Police – – –
Committed:
Strategic incentives 295,198 – –
Sales tax incentives 518,338 – –
Leisure services – – –
Capital projects – – –
Assigned:
Capital projects – – –
Recycling – – –
Leisure services – – –
Unassigned 10,080,617 – –
Total fund balances 10,895,422 12,188,836 902,490
Total liabilities, deferred inflows of resources, and fund balances $ 12,211,442 $ 12,866,406 $ 930,159
Amounts reported for governmental activities in the statement of net assets are different because:
Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds.
Other long-term assets are not available to pay for current-period expenditures and, therefore are deferred in the funds.
Long-term liabilities are not due and payable in the current period and, therefore, are not reported in the funds.
Net position of governmental activities
The accompanying notes are an integral part of these financial statements.
CITY OF COLLEYVILLE, TEXAS
BALANCE SHEET
GOVERNMENTAL FUNDS
SEPTEMBER 30, 2014
34
Other Governmental
Total Governmental
Funds
$ 7,791,404 $ 20,516,799
3,699,736 15,865,130
– 83,105
– 177,656
– 200,000
578,916 1,221,332
– 1,269
3,888 16,660
$ 12,073,944 $ 38,081,951
$ 2,196 $ 1,169,762
18,363 374,439
– 827
13,724 193,442
– 65,098
34,283 1,803,568
– 177,656
15,813
– 58,505
– 251,974
– 1,269
– 12,188,836
– 902,490
109,766 109,766
9,190 9,190
224,064 224,064
2,733,995 2,733,995
1,403,502 1,403,502
– 295,198
– 518,338
1,191,200 1,191,200
5,602,036 5,602,036
751,902 751,902
1,627 1,627
12,379 12,379
– 10,080,617
12,039,661 36,026,409
$ 12,073,944
105,718,089
251,974
( 16,811,056)
$ 125,185,416
35
General Capital Projects Debt Service
REVENUES
Taxes $ 17,471,967 $ – $ 1,154,810
Fees and fines 925,868 – –
Licenses and permits 1,090,012 – –
Intergovernmental – 550,679 –
Charges for services 1,553,714 – –
Capital improvement fees – 333,496 –
Donations – – –
Investment earnings 22,728 2,944 881
Miscellaneous 61,643 – –
Total revenues 21,125,932 887,119 1,155,691
EXPENDITURES
Current:
General government 3,629,590 11,993 –
Community development and engineering 1,312,081 130,057 –
Fire and rescue 4,159,264 7,500 –
Leisure services 2,334,112 1,403 –
Maintenance 570,011 – –
Municipal court 370,233 – –
Police 4,090,489 5,502 –
Streets and drainage 1,823,463 232,168 –
Debt service:
Principal – – 1,342,586
Interest and other charges – – 343,420
Capital outlay 226,680 1,954,134 –
Total expenditures 18,515,923 2,342,757 1,686,006
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 2,610,009 ( 1,455,638) ( 530,315)
OTHER FINANCING SOURCES (USES)
Proceeds from long-term debt, net – – –
Payment to bond escrow agent – – –
Sale of capital assets 844,956 – –
Transfers in 1,116,974 5,211,528 501,182
Transfers out ( 5,498,528) – –
Total other financing sources and uses ( 3,536,598) 5,211,528 501,182
NET CHANGE IN FUND BALANCES ( 926,589) 3,755,890 ( 29,133)
FUND BALANCES, BEGINNING 11,822,011 8,432,946 931,623
FUND BALANCES, ENDING $ 10,895,422 $ 12,188,836 $ 902,490
The accompanying notes are an integral part of these financial statements.
FOR THE YEAR ENDED SEPTEMBER 30, 2014
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
36
Other
Governmental
Total
Governmental
Funds
$ 3,120,467 $ 21,747,244
117,953 1,043,821
– 1,090,012
6,275 556,954
23,850 1,577,564
– 333,496
918,613 918,613
13,144 39,697
15,000 76,643
4,215,302 27,384,044
105,036 3,746,619
164,451 1,606,589
7,981 4,174,745
366,798 2,702,313
– 570,011
130,794 501,027
611,324 4,707,315
– 2,055,631
– 1,342,586
372,808 716,228
1,069,694 3,250,508
2,828,886 25,373,572
1,386,416 2,010,472
7,330,000 7,330,000
( 7,600,000) ( 7,600,000)
80,077 925,033
525,650 7,355,334
( 676,514) ( 6,175,042)
( 340,787) 1,835,325
1,045,629 3,845,797
10,994,032 32,180,612
$ 12,039,661 $ 36,026,409
37
Net change in fund balances – total governmental funds: $ 3,845,797
Governmental funds report capital outlays as expenditures. However, in the
statement of activities, the cost of those assets is allocated over their estimated
useful lives and reported as depreciation expense. ( 1,005,501)
The net effect of transactions involving capital assets is to increase net position. 4,745,472
Revenues, in the statement of activities, that do not provide current financial
resources, are not reported as revenues in the funds. ( 41,492)
The issuance of long-term debt (e.g., bonds, leases) provides current financial
resources to governmental funds, while the repayment of the principal of longterm
debt consumes the current financial resources of governmental funds. 1,599,828
Some expenses reported in the statement of activities do not require the use of
current financial resources and therefore are not reported as expenditures in
governmental funds. ( 11,151)
$ 9,132,953
The accompanying notes are an integral part of these financial statements.
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Amounts reported for governmental activities in the Statement of Activities (pages 32
– 33) are different because:
CITY OF COLLEYVILLE, TEXAS
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
Change in net position of governmental activities
38
Variance with
Final Budget –
Actual Positive
Original Final Amounts (Negative)
REVENUES
Taxes $ 16,625,028 $ 16,625,028 $ 17,471,967 $ 846,939
License and permits 738,751 738,751 1,090,012 351,261
Fees and fines 824,500 824,500 925,868 101,368
Charges for services 1,124,494 1,124,494 1,553,714 429,220
Investment earnings 35,000 35,000 22,728 ( 12,272)
Other 54,100 54,100 61,643 7,543
Total revenues 19,401,873 19,401,873 21,125,932 1,724,059
EXPENDITURES
Current:
General government 3,775,235 3,775,235 3,629,590 145,645
Community development and engineering 1,427,061 1,472,061 1,312,081 159,980
Fire and rescue 4,259,224 4,259,224 4,159,264 99,960
Leisure services 2,629,474 2,629,474 2,334,112 295,362
Maintenance 589,135 589,135 570,011 19,124
Municipal court 389,410 389,410 370,233 19,177
Police 4,172,062 4,172,062 4,090,489 81,573
Streets and drainage 3,840,966 3,840,966 1,823,463 2,017,503
Capital outlay 209,400 209,400 226,680 ( 17,280)
Total expenditures 21,291,967 21,336,967 18,515,923 2,821,044
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES ( 1,890,094) ( 1,935,094) 2,610,009 4,545,103
OTHER FINANCING SOURCES (USES)
Transfers in 1,130,214 1,130,214 1,116,974 ( 13,240)
Transfers out ( 242,000) ( 442,000) ( 5,498,528) ( 5,056,528)
Sale of capital assets 5,000 5,000 844,956 839,956
Total other financing sources and uses 893,214 693,214 ( 3,536,598) ( 4,229,812)
NET CHANGE IN FUND BALANCE ( 996,880) ( 1,241,880) ( 926,589) 315,291
FUND BALANCE, BEGINNING 11,822,011 11,822,011 11,822,011 –
FUND BALANCE, ENDING $ 10,825,131 $ 10,580,131 $ 10,895,422 $ 315,291
The notes to the financial statements are an integral part of this statement.
Budgeted Amounts
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE – BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2014
GENERAL FUND
39
Water and
Wastewater Drainage Utility Total
ASSETS
Current assets:
Cash and cash equivalents $ 3,787,566 $ 1,276,944 $ 5,064,510
Investments 6,898,260 219,563 7,117,823
Accounts receivable, net of allowances 2,414,044 103,896 2,517,940
Inventories 135,391 – 135,391
Restricted assets:
Cash and cash equivalents 1,362,728 – 1,362,728
Total current assets 14,597,989 1,600,403 16,198,392
Non-current assets:
Accrued interest receivable 8,967 291 9,258
Capital assets:
Land and improvements 304,839 – 304,839
Buildings 53,922 – 53,922
Utility system 68,090,537 4,128,364 72,218,901
Equipment and furniture 1,652,954 480,973 2,133,927
Construction in progress 1,571,392 144,605 1,715,997
Less accumulated depreciation ( 31,193,328) ( 1,372,267) ( 32,565,595)
Total non-current assets 40,489,283 3,381,966 43,871,249
Total assets 55,087,272 4,982,369 60,069,641
DEFERRED OUTLOWS OF RESOURCES
Deferred charge on refunding 111,818 5,017 116,835
Total deferred outflows of resources 111,818 5,017 116,835
LIABILITIES
Current liabilities:
Accounts payable 751,458 43,966 795,424
Accrued liabilities 40,889 7,073 47,962
Accrued interest payable 8,675 5,292 13,967
Advances from developers 69,000 – 69,000
Escrow funds 26,613 – 26,613
Customer deposits 442,785 – 442,785
Compensated absences 17,641 2,587 20,228
Revenue bonds payable 460,000 225,000 685,000
Total current liabilities 1,817,061 283,918 2,100,979
Non-current liabilities:
Compensated absences 70,562 10,350 80,912
Revenue bonds payable 919,830 690,000 1,609,830
Total non-current liabilities 990,392 700,350 1,690,742
Total liabilities 2,807,453 984,268 3,791,721
NET POSITION
Net investment in capital assets 39,100,486 2,466,675 41,567,161
Unrestricted 13,291,151 1,536,443 14,827,594
Total net position $ 52,391,637 $ 4,003,118 $ 56,394,755
The accompanying notes are an integral part of these financial statements.
SEPTEMBER 30, 2014
Enterprise Funds
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
40
Water and
Wastewater Drainage Utility Total
OPERATING REVENUES
Metered water sales $ 10,481,393 $ – $ 10,481,393
Wastewater service charges 3,459,501 – 3,459,501
Drainage service charges – 927,356 927,356
Other charges and services 821,258 12,512 833,770
Miscellaneous 27,462 – 27,462
Total operating revenues 14,789,614 939,868 15,729,482
OPERATING EXPENSES
Personnel services 1,447,666 298,866 1,746,532
Maintenance and contractual services 9,670,393 92,399 9,762,792
Materials and supplies 213,690 25,692 239,382
Depreciation and amortization 1,867,549 120,803 1,988,352
Total operating expenses 13,199,298 537,760 13,737,058
OPERATING INCOME 1,590,316 402,108 1,992,424
NON-OPERATING REVENUES (EXPENSES)
Interest and investment revenues 22,107 1,548 23,655
Interest expense and fiscal charges ( 39,595) ( 34,126) ( 73,721)
Gain (loss) on disposal of property 40,814 – 40,814
Total non-operating revenues (expenses) 23,326 ( 32,578) ( 9,252)
INCOME BEFORE CONTRIBUTIONS
AND TRANSFERS 1,613,642 369,530 1,983,172
Capital contributions 2,707,835 – 2,707,835
Transfers out ( 1,161,260) ( 19,032) ( 1,180,292)
CHANGE IN NET POSITION 3,160,217 350,498 3,510,715
TOTAL NET POSITION, BEGINNING 49,299,109 3,673,558 52,972,667
PRIOR PERIOD ADJUSTMENT ( 67,689) ( 20,938) ( 88,627)
TOTAL NET POSITION, ENDING $ 52,391,637 $ 4,003,118 $ 56,394,755
The accompanying notes are an integral part of these financial statements.
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN FUND NET POSITION
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Enterprise Funds
41
Water and Drainage
Wastewater Utility Totals
CASH FLOWS FROM OPERATING ACTIVITIES
Cash received from customers $ 1 4,790,412 $ 942,652 $ 1 5,733,064
Cash paid to suppliers for goods and services ( 1 0,116,720) ( 75,191) ( 1 0,191,911)
Cash paid to employees for services ( 1 ,418,145) ( 301,747) ( 1 ,719,892)
Net cash provided by operating activities 3 ,255,547 565,714 3 ,821,261
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers out ( 1 ,161,260) ( 19,032) ( 1 ,180,292)
Net cash used for noncapital
financing activities ( 1 ,161,260) ( 19,032) ( 1 ,180,292)
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Acquisition of capital assets ( 5 96,456) ( 103,113) ( 6 99,569)
Gain/(loss) on sale of asset 4 0,814 – 4 0,814
Principal paid on debt ( 7 75,000) ( 220,000) ( 9 95,000)
Interest paid on debt ( 3 9,595) ( 34,126) ( 7 3,721)
Net cash used for capital and
related financing activities ( 1 ,370,237) ( 357,239) ( 1 ,727,476)
CASH FLOWS FROM INVESTING ACTIVITIES
(Purchase) sale of investments ( 7 67,983) ( 102,665) ( 8 70,648)
Earnings on investments 2 2,107 1,548 2 3,655
Net cash provided (used) by investing activities ( 7 45,876) ( 101,117) ( 8 46,993)
NET INCREASE IN CASH
AND CASH EQUIVALENTS ( 2 1,826) 88,326 6 6,500
CASH AND CASH EQUIVALENTS, BEGINNING 5 ,172,120 1,188,618 6 ,360,738
CASH AND CASH EQUIVALENTS, ENDING $ 5 ,150,294 $ 1,276,944 $ 6 ,427,238
Enterprise Funds
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
42
Water and Drainage
Wastewater Utility Totals
Reconciliation of operating income (loss) to net cash
provided (used) by operating activities:
Operating income $ 1 ,590,316 $ 402,108 $ 1 ,992,424
Adjustments to reconcile operating income (loss)
to net cash provided by (used for) operating activities:
Depreciation and amortization expense 1 ,867,549 120,803 1 ,988,352
Changes in assets and liabilities:
Decrease (increase) in assets:
Accounts receivable 7 98 2,784 3 ,582
Inventory 3 1,926 – 3 1,926
Accrued interest receivable ( 2 ,040) ( 213) ( 2 ,253)
Increase (decrease) in liabilities:
Accounts payable ( 1 97,464) 42,212 ( 1 55,252)
Accrued liabilities ( 2 4,681) ( 1,794) ( 2 6,475)
Compensated absences payable ( 4 ,840) 1,087 ( 3 ,753)
Customer deposits ( 1 ,299) – ( 1 ,299)
Accrued interest payable ( 4 ,718) ( 1,273) ( 5 ,991)
Net cash provided by operations $ 3 ,255,547 $ 565,714 $ 3 ,821,261
Noncash investing, capital, and financing activities:
Contributions of capital assets $ 2 ,707,835 $ – $ 2 ,707,835
The notes to the financial statements are an integral part of this statement.
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
Enterprise Funds
FOR THE YEAR ENDED SEPTEMBER 30, 2014
(Continued)
43
Agency Fund
ASSETS
Cash and investments $ 25,511
Total assets $ 25,511
LIABILITIES
Due to other agencies and individuals $ 25,511
Total liabilities $ 25,511
The accompanying notes are an integral part of these financial statements.
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF FIDUCIARY NET POSITION
FIDUCIARY FUNDS
SEPTEMBER 30, 2014
44
45
CITY OF COLLEYVILLE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2014
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City of Colleyville Home Rule Charter was adopted by the voters at an election held on
January 15, 1977. The City operates under a Council-Manager form of government.
The accounting policies of the City of Colleyville, Texas (the “City”) conform to generally
accepted accounting principles as applicable to governmental units. The following is a summary
of the more significant of such policies:
A. Reporting Entity
As required by generally accepted accounting principles, these financial statements present
the government and its component units, entities for which the government is considered to
be financially accountable. Blended component units, although legally separate entities are,
in substance, part of the government’s operations and so data from these units are combined
with data of the primary government. Each directly presented component unit, on the other
hand, is reported in a separate column in the combined financial statements to emphasize it is
legally separate from the government. Each blended component unit has a September 30
year-end.
Blended Component Unit – The Colleyville Economic Development Corporation (CEDC)
was incorporated on September 3, 1996, as a nonprofit industrial development corporation
under the Development Corporation Act of 1979 (“Act”). The CEDC operates under a seven
(7) member Board of Directors appointed by the City Council. Each of the directors shall be
a resident of the City. The Corporation is organized exclusively for the purposes of
benefiting and accomplishing public purposes of and to act on behalf of, the City, and the
specific purposes for which the Corporation is organized. This includes municipal park
improvements, the purchase of land and improvements for additional neighborhood parks,
the construction of a community center and library. Although it is legally separate from the
City, the CEDC is reported as if it were part of the primary government, because CEDC is
financing public improvements and the City is the primary beneficiary of the services
provided.
Blended Component Unit – Colleyville Crime Control and Prevention District (the District)
was formed under Chapter 363 of the Texas Local Government Code, the Crime Control and
Prevention District Act. The District is organized to act on behalf of the City for financing,
development of crime control throughout the City. The District is governed by a sevenmember
board consisting of all members of the City Council. The District is reported as a
part of the primary government because it provides services entirely for the City.
46
Discretely Presented Component Unit – Colleyville Tax Increment Financing Reinvestment
Zone Number One (the TIF) was formed to make public improvements, under the authority
of the Tax Increment Financing Act. The TIF is governed by a nine-member board
consisting of five members appointed by the City Council and one member each appointed
by the four other participating taxing entities. The primary government appoints a voting
majority of the unit’s governing body and the City has a potential economic benefit from this
unit. Therefore, the TIF is presented in the accompanying financial statements as a discretely
presented component unit. Complete financial statements for the TIF may be obtained from
the City of Colleyville Finance Department, 100 Main Street, Colleyville, Texas 76034.
B. Government-wide Fund Financial Statements
The government-wide financial statements (i.e., the statement of net position and the
statement of activities) report information on all of the nonfiduciary activities of the primary
government and its component units. For the most part, the effect of interfund activity has
been removed from these statements. Governmental activities, which normally are supported
by taxes and intergovernmental revenue, are reported separately from business-type
activities, which rely to a significant extent on fees and charges for support. Likewise, the
primary government is reported separately from certain legally separate component units for
which the primary government is financially accountable.
The statement of activities demonstrates the degree to which the direct expenses of a given
function or segment are offset by program revenue. Direct expenses are those that are clearly
identifiable with a specific function or segment. Program revenue includes 1) charges to
customers or applicants who purchase, use, or directly benefit from goods, services, or
privileges provided by a given function or segment, and 2) grants and contributions that are
restricted to meeting the operational or capital requirements of a particular function or
segment. Taxes and other items not properly included among program revenue are reported
instead as general revenue.
Separate financial statements are provided for governmental funds, proprietary funds, and
fiduciary funds, even though the latter are excluded from the government-wide financial
statements. Major individual governmental funds and major individual Enterprise Funds are
reported as separate columns in the fund financial statements.
C. Measurement Focus, Basis of Accounting and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources
measurement focus and the accrual basis of accounting, as are the proprietary fund and
fiduciary fund financial statements, except for Agency Funds, which have no measurement
focus. Revenues are recorded when earned and expenses are recorded when a liability is
incurred, regardless of the timing of related cash flows. Property taxes are recognized as
revenue in the year for which they are levied. Grants and similar items are recognized as
revenue as soon as all eligibility requirements imposed by the provider have been met.
47
Governmental fund financial statements are reported using the current financial resources
measurement focus and the modified accrual basis of accounting. Revenues are recognized
as soon as they are both measurable and available. Revenues are considered to be available
when they are collectible within the current period or soon enough thereafter to pay liabilities
of the current period. For this purpose, the government considers revenue to be available if
collected within 60 days of the end of the current fiscal period. Expenditures generally are
recorded when a liability is incurred, as under accrual accounting. However, debt service
expenditures, as well as expenditures related to compensated absences and claims and
judgments, are recorded only when payment is due.
Property taxes, franchise taxes, sales taxes, and interest associated with the current fiscal
period are all considered to be susceptible to accrual and so have been recognized as revenue
of the current fiscal period. All other revenue items are considered to be measurable and
available only when cash is received by the City.
GOVERNMENTAL FUNDS
Governmental Funds are those through which most governmental functions of the City
are financed. The acquisition, use, and balances of the City’s expendable financial
resources and the related liabilities (except those accounted for in the proprietary fund
type) are accounted for through governmental funds. The measurement focus is upon
determination of changes in financial position, rather than upon net income
determination. The following are the City’s governmental fund types:
The City reports the following major governmental funds:
The General Fund – is the general operating fund of the City. It is used to
account for all financial resources except those required to be accounted for in
another fund.
The Debt Service Fund – is used to account for the acquisition of resources
for, and the payment of, general long-term debt principal and interest, and
related costs.
The Capital Projects Fund – is used to account for financial resources to be
used for the acquisition or construction of general major capital facilities.
Financing is provided primarily by the sale of general obligation bonds and
developer contributions.
Additionally, the City also reports the following fund type:
The Special Revenue Fund – accounts for the revenues and expenditures
associated with a special project or purpose.
PROPRIETARY FUNDS
Proprietary Funds are used to account for activities that are similar to those often found
in the private sector. The measurement focus is upon determination of net income and
capital maintenance.
48
The City reports the following major proprietary funds:
The Water and Wastewater Fund – is used to account for operations (a) that
are financed and operated in a manner similar to private business enterprises –
where the intent of the governing body is that the costs (expenses, including
depreciation) of providing goods or services to the general public on a
continuing basis be financed or recovered primarily through user charges; or
(b) where the governing body has decided that periodic determination of
revenue earned, expenses incurred, and/or net income is appropriate for
capital maintenance, public policy, management control, accountability, or
other purposes. This fund is used to account for water and wastewater
operations.
The Drainage Utility Fund – is used to account for the establishment and
maintenance of drainage facilities within the municipal boundaries of the City.
All activities necessary to provide such facilities are accounted for in this
fund, included but not limited to, administration, operations, maintenance,
billing and collections.
FIDUCIARY FUNDS
Agency Fund – Fiduciary Funds are used to account for assets held by the
City in a trustee capacity or as an agent on behalf of others. Agency funds are
custodial in nature and do not present results of operations or have a
measurement focus. The City has two agency funds: Employee Activity and
the Sesquicentennial Fund. These funds are held for the benefit of City
employees and to benefit the City’s historical purposes.
As a general rule, the effect of interfund activity has been eliminated from the governmentwide
financial statements. Exceptions to this general rule are charges between the City’s
water and wastewater function and various other functions of the government. Elimination
of these charges would distort the direct costs and program revenue reported for the various
functions concerned.
Amounts reported as program revenues include: 1) charges to customers or applicants for
goods, services, or privileges provided, 2) operating grants and contributions, and 3) capital
grants and contributions, including special assessments. Internally dedicated resources are
reported as general revenues rather than as program revenue. Likewise, general revenue
includes all taxes.
Proprietary funds distinguish operating revenues and expenses from nonoperating items.
Operating revenues and expenses generally result from providing services and producing and
delivering goods in connection with a proprietary fund’s principal ongoing operations. The
principal operating revenues of the City’s Enterprise Funds are charges to customers for sales
and services. Operating expenses for Enterprise Funds include the cost of sales and services,
administrative expenses, and depreciation on capital assets. All revenue and expenses not
meeting this definition are reported as nonoperating revenue and expenses.
49
D. Cash and Cash Equivalents
For purposes of the statement of cash flows, the Enterprise Fund considers all highly liquid
investments (investments with original maturities less than 90 days, including restricted
assets) to be cash equivalents.
E. Investments
In accordance with GASB Statement No. 31, the City’s general policy is to report money
market investments and short-term participating interest-earning investment contracts at
amortized cost and to report nonparticipating interest-earning investment contracts using a
cost-based measure. However, if the fair value of an investment is significantly affected by
the impairment of the credit standing of the issuer or by other factors, it is reported at fair
value. All other investments are reported at fair value unless a legal contract exists which
guarantees a higher value. The term “short-term” refers to investments, which have a
remaining term of one year or less at time of purchase. The term “nonparticipating” means
that the investment’s value does not vary with market interest rate changes.
F. Receivables and Payables
Activity between funds that are representative of lending/borrowing arrangements
outstanding at the end of the fiscal year are referred to as either “due to/from other funds”
(i.e., the current portion of interfund loans) or “advances to/from other funds” (i.e., the
noncurrent portion of interfund loans). All other outstanding balances between funds are
reported as “due to/from other funds.” Any residual balances outstanding between the
governmental activities and business-type activities are reported in the government-wide
financial statements as “internal balances.”
Advances between funds, as reported in the fund financial statements, are offset by a fund
balance reserve account in applicable governmental funds to indicate that they are not
available for appropriation and are not expendable available financial resources.
The allowance for utility receivables is the total of final bills that have been sent out by the
City. Final bills are bills that have been sent out to customers that have notified the City of a
discontinuation of service. Ambulance receivables in excess of 180 days comprise the
ambulance allowance for uncollectables. The allowance for uncollectable accounts for
capias warrants is set at 90% of outstanding receivables.
Property taxes are levied on October 1 and attach as an enforceable lien on property as of
January 1. Statements are mailed on October 1, or as soon thereafter as possible, and are due
upon receipt. All unpaid taxes become delinquent if not paid before February 1 of the
following year.
G. Inventories
Inventories in the Enterprise Fund are valued at cost (first-in, first-out method).
50
H. Capital Assets
Capital assets, which include property, plant, equipment and infrastructure assets (e.g. roads,
bridges, sidewalks and similar items) are reported in the applicable governmental or
business-type activities columns in the government-wide financial statements. The City
defines capital assets as assets with an initial, individual cost of more than $5,000 (amount
not rounded) and an estimated useful life in excess of one year. Such assets are recorded at
historical cost or estimated historical cost if purchased or constructed. Donated capital assets
are recorded at estimated fair market value at the date of donation.
The costs of normal maintenance and repairs that do not add to the value of the asset or
materially extend assets’ lives are not capitalized.
Major outlays for capital assets and improvements are capitalized as projects are constructed.
Property, plant and equipment is depreciated using the straight-line method over the
following estimated useful lives:
Assets Years
Buildings 15 – 50
Improvements 20 – 50
Equipment 5 – 10
Infrastructure (streets and drainage) 50
Water distribution/sewer collection 5 – 40
I. Compensated Absences
City employees are granted vacation and sick pay in varying amounts. In the event of
termination, an employee is paid for all accumulated, unused vacation. Vacation pay is
accrued as it vests to the employee. Sick pay is recorded when paid or upon retirement when
a maximum of 90 days is paid. The accrued sick pay is not recorded, as the City’s policy is
not to compensate employees upon separation of services with the City, except for
retirement, and such amounts are not considered material. All vacation pay is accrued when
incurred in the government-wide and proprietary fund financial statements.
J. Long-term Obligations
In the government-wide financial statements and proprietary fund types in the fund financial
statements, long-term debt and other long-term obligations are reported as liabilities in the
applicable governmental activities, business-type activities, or proprietary fund type statement
of net position.
In the fund financial statements, the face amount of debt issued is reported as other financing
sources for the governmental fund types.
For governmental fund types, bond premiums and discounts, as well as issuance costs, are
recognized during the current period. Bond proceeds are reported as another financing source.
Issuance costs, even if withheld from the actual net proceeds received, are reported as
expenditures. For proprietary fund types, bond premiums and discounts, as well as issuance
costs, are charged to current operations rather than being deferred and amortized due to the
relatively immaterial effect on the basic financial statements taken as a whole.
51
K. Fund Balance Classification
The governmental fund financial statements present fund balances based on classifications that
comprise a hierarchy that is based primarily on the extent to which the City is bound to honor
constraints on the specific purposes for which amounts in the respective governmental funds
can be spent. The classifications used in the governmental fund financial statements are as
follows:
Nonspendable: This classification includes amounts that cannot be spent because
they are either (a) not in spendable form or (b) are legally or contractually required to
be maintained intact. Nonspendable items are not expected to be converted to cash or
are not expected to be converted to cash within the next year.
Restricted: This classification includes amounts for which constraints have been
placed on the use of the resources either (a) externally imposed by creditors, grantors,
contributors, or laws or regulations of other governments, or (b) imposed by law
through constitutional provisions or enabling legislation.
Committed: This classification includes amounts that can be used only for specific
purposes pursuant to constraints imposed by board resolution of the City Council, the
City’s highest level of decision making authority. These amounts cannot be used for
any other purpose unless the Council removes or changes the specified use by taking
the same type of action that was employed when the funds were initially committed.
This classification also includes contractual obligations to the extent that existing
resources have been specifically committed for use in satisfying those contractual
requirements.
Assigned: This classification includes amounts that are constrained by the City’s
intent to be used for a specific purpose but are neither restricted nor committed. This
intent can be expressed by the City’s Assistant City Manager/Chief Financial Officer.
Unassigned: This classification includes the residual fund balance for the General Fund.
The unassigned classification also includes negative residual fund balance of any other
governmental fund that cannot be eliminated by offsetting of assigned fund balance
amounts.
When an expenditure is incurred for purposes for which both restricted and unrestricted fund
balance is available, the City considers restricted funds to have been spent first. When an
expenditure is incurred for which committed, assigned, or unassigned fund balances are
available, the City considers amounts to have been spent first out of committed funds, then
assigned funds, and finally unassigned funds.
L. Minimum Unassigned Fund Balance
It is the goal of the City to achieve and maintain an unassigned fund balance in the General
Fund equal to three months of that year’s budgeted expenditures for both the General and
Utility Funds. The City Council may declare a fiscal emergency and withdraw any amount
of the unassigned General and Utility Funds’ balances for purposes of addressing the fiscal
emergency. Any such action must also provide for necessary appropriations to restore the
designated fund balance to the balance within a three-year period.
52
M. Net Position Flow Assumption
Sometimes the City will fund outlays for a particular purpose from both restricted (e.g.,
restricted bond or grant proceeds) and unrestricted resources. In order to calculate the
amounts to report as restricted – net position and unrestricted – net position in the
government-wide and proprietary fund financial statements, a flow assumption must be made
about the order in which the resources are considered to be applied. It is the City’s policy to
consider restricted – net position to have been depleted before unrestricted – net position is
applied.
N. Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position will sometimes report a separate
section for deferred outflows of resources. This separate financial statement element,
deferred outflows of resources, represents a consumption of net position that applies to a
future period(s) and so will not be recognized as an outflow of resources
(expense/expenditure) until then. The government only has one item that qualifies for
reporting in this category. It is the deferred charge on refunding reported in the governmentwide
statement of net position. A deferred charge on refunding results from the difference in
the carrying value of refunded debt and its reacquisition price. This amount is deferred and
amortized over the shorter of the life of the refunded or refunding debt.
In addition to liabilities, the statement of financial position will sometimes report a separate
section for deferred inflows of resources. This separate financial statement element, deferred
inflows of resources, represents an acquisition of net position that applies to a future
period(s) and so will not be recognized as an inflow of resources (revenue) until that time.
The government has only one type of item, which arises only under a modified accrual basis
of accounting, that qualifies for reporting in this category. Accordingly, the item, unavailable
revenue, is reported only in the governmental funds balance sheet. The governmental funds
report unavailable revenues from two sources: property taxes, municipal fines and ambulance
fees. These amounts are deferred and recognized as an inflow of resouces in that period that
the amounts become available.
O. Estimates
The preparation of financial statements, in conformity with generally accepted accounting
principles, requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosures of contingent liabilities at the date of the
financial statements and the reported amounts of revenue and expenses during the reporting
period. Actual amounts could differ from those estimates.
P. Risk Management
Insurance coverage for property, liability and workers’ compensation is provided by the
Texas Municipal League Intergovernmental Risk Pool, a state insurance pool. Contributions
to the Risk Pool for workers’ compensation are based on the City’s past claims history. The
Risk Pool is self-sustaining through members’ contributions and maintains insurance to limit
risk of loss with an external insurance company. Settlement claims have not exceeded
aggregate limits in the past three fiscal years.
53
2. RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS
Explanation of Certain Differences Between the Governmental Fund Balance Sheet and the
Government-wide Statement of Net Position
The governmental fund balance sheet includes a reconciliation between fund balance – total
governmental funds and net position – governmental activities as reported in the governmentwide
statement of net position. One element of that reconciliation explains, “Long-term
liabilities are not due and payable in the current period and therefore are not reported in the
funds.” The details of this $(16,811,056) difference are as follows:
Bonds payable $( 14,990,000)
Capital leases payable ( 974,038)
Accrued interest payable ( 99,086)
Compensated absences ( 747,932)
Net adjustment to reduce fund balance – total
governmental funds to arrive at net assets –
governmental activities $( 16,811,056)
Explanation of Certain Differences Between the Governmental Fund Statement of Revenue,
Expenditures and Changes in Fund Balances and the Government-wide Statement of Activities
The governmental fund statement of revenue, expenditures and changes in fund balances includes
a reconciliation between net changes in fund balances – total governmental fund and changes in
net position of governmental activities as reported in the government-wide statement of activities.
One element of that reconciliation explains, “Governmental funds report capital outlays as
expenditures. However, in the statement of activities the cost of those assets is allocated over their
estimated useful lives and reported as depreciation expense.” The details of this $(1,005,501)
difference are as follows:
Capital outlay $ 3,064,252
Depreciation expense ( 4,069,753)
Net adjustment to increase net changes in fund balances –
total governmental funds to arrive at changes in net
assets of governmental activities $( 1,005,501)
Another element of that reconciliation states, “Revenues in the statement of activities that do not
provide current financial resources are not reported as revenues in the funds.” The details of this
$(41,492) difference are as follows:
Property taxes $( 53,256)
Ambulance revenue 1,395
Adjudicated fines 10,369
Net adjustment to increase net changes in fund balances –
total governmental funds to arrive at changes in net
assets of governmental activities $( 41,492)
54
Another element of that reconciliation states, “The issuance of long-term debt (e.g., bonds,
leases) provides current financial resources to governmental funds, while the repayment of the
principal of long-term debt consumes the current financial resources of governmental funds.”
Neither transaction, however, has any effect on net position. The details of this $1,599,828
difference are as follows:
Principal payments and refundings $ 1,329,828
Debt refunding – proceeds ( 7,330,000)
Payment to escrow agent 7,600,000
Net adjustment to reduce fund balance -total
governmental funds to arrive at net assets –
governmental activities $ 1,599,828
Another element of that reconciliation states, “Some expenses reported in the statement of
activities do not require the use of current financial resources, and therefore are not reported as
expenditures in governmental funds.” The details of this ($11,151) difference are as follows:
Compensated absences $( 23,092)
Accrued interest 11,941
Net adjustment to decrease net changes in fund balances –
total governmental funds to arrive at changes in net
assets of governmental activities $( 11,151)
3. STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY
A. Budgetary Information
The City Council follows these procedures in establishing budgetary data reflected in the
basic financial statements:
(1) Prior to September 1, the City Manager submits to the City Council a
proposed operating budget for the fiscal year commencing the following
October 1. The operating budget includes proposed expenditures and the
means of financing them.
(2) Public hearings are conducted to obtain taxpayer comments.
(3) Prior to September 30, the budget is legally enacted through passage of an
ordinance.
(4) The City Manager is authorized to transfer budgeted amounts between
departments within any fund; however, any revisions that alter the total
expenditures of any fund must be approved by the City Council.
(5) Formal budgetary integration is employed as a management control device
during the year for the General, Debt Service, and Enterprise Funds.
Budgetary control is maintained at the fund level.
55
Internal budgets are prepared and reviewed by the City Council for
expenditures of Special Revenue Funds. These budgeted expenditures are not
formally adopted by the City Council. No budgets were prepared for revenue
of these funds for the year ended September 30, 2014.
(6) Budgets for the General and the Debt Service Funds are adopted on a basis
consistent with generally accepted accounting principles (GAAP). Formal
budgeted amounts are as amended by the City Council for the General, Debt
Service and Enterprise Funds.
(7) Budgetary data for the Capital Projects Fund has not been presented in the
accompanying basic financial statements, as such funds are budgeted over the
life of the respective project and not on an annual basis. Accordingly, formal
budgetary integration of the Capital Projects Fund is not employed and
comparison of actual results of operations to budgetary data for such fund is
not presented.
(8) Budgetary data for the Enterprise and Drainage Utility Funds has not been
presented since the reporting on such budgets is not legally required.
Expenditures Over Appropriations
Capital Outlay expenditures in the general government function exceeded appropriations
by $17,280. This overage was funded by under spending in other functions.
4. DETAILED NOTES ON ALL FUNDS
Deposits and Investments
As of September 30, 2014, the City had the following investments:
Fair Weighted Average
Investment Type Value Maturity (Days)
LOGIC $ 23,826,230 59
U. S. Treasuries and Agencies 23,149,366 372
Total fair value $ 46,975,596
56
The Public Funds Investment Act (Government Code Chapter 2256) contains specific provisions
in the areas of investment practices, management reports and establishment of appropriate
policies. Among other things, it requires the City to adopt, implement, and publicize an
investment policy. That policy must address the following areas: (1) safety of principal and
liquidity, (2) portfolio diversification, (3) allowable investments, (4) acceptable risk levels, (5)
expected rates of return, (6) maximum allowable stated maturity of portfolio investments, (7)
maximum average dollar-weighted maturity allowed based on the stated maturity date for the
portfolio, (8) investment staff quality and capabilities, and (9) bid solicitation preferences for
certificates of deposit. Statutes authorize the City to invest in (1) obligations of the U. S.
Treasury, certain U. S. agencies, and the State of Texas; (2) certificates of deposit, (3) certain
municipal securities, (4) money market savings accounts, (5) repurchase agreements, (6) bankers
acceptances, (7) Mutual Funds, (8) investment pools, (9) guaranteed investment contracts, and
(10) common trust funds. The Act also requires the City to have independent auditors perform
test procedures related to investment practices as provided by the Act. The City is in substantial
compliance with the requirements of the Act and with local policies.
The City’s investment pools are 2a7-like pools. A 2a7-like pool is one which is not registered
with the Securities and Exchange Commission (“SEC”) as an investment company, but
nevertheless has a policy that it will, and does, operate in a manner consistent with the SEC’s
Rule 2a7 of the Investment Company Act of 1940.
Interest Rate Risk. In accordance with its investment policy, the government manages its
exposure to declines in fair market values by limiting the average dollar weighted maturity of its
investment portfolios to a maximum of 540 days.
Custodial Credit Risk. The City maintains a cash and investment pool that combines cash of the
various funds in order to maximize investment opportunities. The City’s policy and state statutes
require that all deposits in financial institutions be insured by the Federal Depository Insurance
Corporation (FDIC) or fully collateralized as per the Public Funds Collateral Act. The City’s
deposits were fully insured or collateralized as required by state statutes as of September 30,
2014.
Credit Risk. It is the City’s policy to limit its investments to investment types with an
investment quality rating not less than A or its equivalent by a nationally recognized statistical
rating organization. The City’s investment pools are rated as follows by Standard & Poor’s
Investors Service.
LOGIC AAAm
U. S. Treasuries and Agencies AA+
57
Receivables
Receivables as of year-end for the government’s individual major funds, nonmajor funds and
enterprise funds in the aggregate, including the applicable allowances for uncollectible accounts,
are as follows:
Capital Debt Nonmajor Water and Drainage
General Projects Service Funds Wastewater Utility Total
Receivables:
Accounts $ 555,973 $ – $ – $ – $ 2,440,124 $ 103,896 $ 3,099,993
Taxes 149,987 – 27,669 – – – 177,656
Due from other
governments 642,282 – 134 578,916 – – 1,221,332
Loans 200,000 – – – – – 200,000
Accrued interest 9,542 3,230 – 3,888 8,967 291 25,918
Gross receivables 1,557,784 3,230 27,803 582,804 2,449,091 104,187 4,724,899
Less: allowance for
uncollectibles ( 472,868) – – – ( 26,080) – ( 498,948)
Net total receivables $ 1,084,916 $ 3,230 $ 27,803 $ 582,804 $ 2,423,011 $ 104,187 $ 4,225,951
Governmental Funds Enterprise Funds
The City’s property tax is levied each October 1 on the assessed value listed as of the prior
January 1 for all real property and certain personal property located in the City. Tax liens attach
as of January 1. The assessed value, net of exemptions, upon which the fiscal 2014 levy was
based, was $3,915,488,086.
Property taxes are limited by the Texas constitution to $2.50 per $100 of assessed valuation and
by City Charter to $1.50 per $100 valuation. Also, the tax rate set per budget year shall not
result in property tax revenue increase greater than seven percent of the total property tax
revenue collected in the preceding budget year, adjusted for new construction, unless authorized
by the voters of the City at a special election. The combined tax rate to finance general
governmental service and debt service for the year ended September 30, 2014, was $.3559 per
$100 of assessed valuation.
Taxes are due by January 31 following the levy date. Tax collections, including related penalties
and interest, was $13,004,088 for the year ended September 30, 2014. Property taxes receivable
at September 30, 2014, were $177,656.
The appraisal of property within the City is the responsibility of a countywide appraisal district
as required by legislation passed by the Texas Legislature. The appraisal district is required
under such legislation to assess all property within the appraisal district on the basis of 100% of
its appraised value and is prohibited from applying any assessment ratios. The value of property
within the appraisal district must be reviewed every three years; however, the City may, at its
own expense, require annual reviews of appraised values. The City may challenge appraised
values established by the appraisal district through various appeals and, if necessary, legal action.
58
Capital Assets
Capital asset activity for the year ended September 30, 2014, was as follows:
Primary Government
Beginning Ending
Balance Increases Decreases Balance
Governmental activities:
Capital assets, not being depreciated:
Land $ 9,293,654 $ – $( 115,013) $ 9,178,641
Construction in progress 1,796,099 2,056,132 ( 20,534) 3,831,697
Total assets not being depreciated 11,089,753 2,056,132 ( 135,547) 13,010,338
Capital assets, being depreciated:
Buildings and improvements 45,763,755 369,079 – 46,132,834
Machinery and equipment 10,806,868 581,083 ( 614,355) 10,773,596
Infrastructure 79,371,164 4,860,485 – 84,231,649
Total capital assets being depreciated 135,941,787 5,810,647 ( 614,355) 141,138,079
Less accumulated depreciation:
Buildings and improvements ( 14,468,175) ( 1,478,711) – ( 15,946,886)
Machinery and equipment ( 7,826,632) ( 905,809) 692,848 ( 8,039,593)
Improvements other than buildings ( 22,758,615) ( 1,685,234) – ( 24,443,849)
Total accumulated depreciation ( 45,053,422) ( 4,069,754) 692,848 ( 48,430,328)
Total capital assets being depreciated, net 90,888,365 1,740,893 78,493 92,707,751
Governmental activities capital
assets, net $ 101,978,118 $ 3,797,025 $( 57,054) $ 105,718,089
Beginning Ending
Balance Increases Decreases Balance
Business-type activities:
Capital assets, not being depreciated:
Land $ 304,839 $ – $ – $ 304,839
Construction in progress 1,114,303 601,694 – 1,715,997
Total assets not being depreciated 1,419,142 601,694 – 2,020,836
Capital assets, being depreciated:
Buildings and improvements 53,922 – – 53,922
Machinery and equipment 1,981,088 317,761 ( 164,922) 2,133,927
Improvements other than buildings 69,730,952 2,487,949 – 72,218,901
Total capital assets being depreciated 71,765,962 2,805,710 ( 164,922) 74,406,750
Less accumulated depreciation:
Buildings and improvements ( 48,951) ( 622) – ( 49,573)
Machinery and equipment ( 2,565,370) ( 186,968) 164,922 ( 2,587,416)
Improvements other than buildings ( 28,134,560) ( 1,794,046) – ( 29,928,606)
Total accumulated depreciation ( 30,748,881) ( 1,981,636) 164,922 ( 32,565,595)
Total capital assets being depreciated, net 41,017,081 824,074 – 41,841,155
Business-type activities capital assets, net $ 42,436,223 $ 1,425,768 $ – $ 43,861,991
59
Beginning Ending
Balance Increases Decreases Balance
Component unit:
Capital assets, not being depreciated:
Construction in progress $ 5,893,512 $ 2,161,840 $ – $ 8,055,352
Total assets not being depreciated 5,893,512 2,161,840 – 8,055,352
Capital assets, being depreciated:
Improvements other than buildings $ 1,808,520 $ 37,456 $ – $ 1,845,976
Total capital assets being depreciated 1,808,520 37,456 – 1,845,976
Less accumulated depreciation:
Improvements other than buildings $( 180,852) $( 40,522) $ – $( 221,374)
Total accumulated depreciation ( 180,852) ( 40,522) – ( 221,374)
Total capital assets being depreciated, net 1,627,668 ( 3,066) – 1,624,602
Component unit capital assets, net $ 7,521,180 $ 2,158,774 $ – $ 9,679,954
Depreciation expense was charged to functions/programs of the primary government as follows:
Governmental activities:
General government $ 410,956
Community Development 4,873
Fire and rescue 445,486
Leisure services 1,070,645
Maintenance 5,029
Police 306,610
Streets and drainage 1,826,154
Total depreciation expense – governmental activities $ 4,069,753
Business-type activities:
Water and wastewater $ 1,861,548
Drainage utility 120,088
Total depreciation expense – business-type activities $ 1,981,636
Construction Commitments
The government has active construction projects as of September 30, 2014. The major projects
are listed as follows:
Remaining
Project Spent-to-date Commitment
Jackson/Cheek Sparger roundabout $ 1,730,538 $ 422,985
Hwy 26 waterline/sewerline relocation project 624,875 2,344,985
Total $ 2,355,413 $ 2,767,970
60
Interfund Transactions
The composition of interfund transfers as of September 30, 2014, is as follows:
Interfund Transfers
Nonmajor
Capital Debt Government
General Projects Service Funds Total
Transfer Out:
General $ – $ 5,211,528 $ – $ 287,000 $ 5,498,528
Nonmajor governmental – – 501,182 175,332 676,514
Drainage fee – – – 19,032 19,032
Water and wastewater 1,116,974 – – 44,286 1,161,260
Total Transfers Out $ 1,116,974 $ 5,211,528 $ 501,182 $ 525,650 $ 7,355,334
Transfer In
The transfer of $1,116,974 from the Utility Fund to the General Fund represents the 2014
Administrative transfer and the franchise fee based on gross water and wastewater revenue of the
prior year’s audited financial statements. The transfer of $5,498,528 from the General Fund to
the Capital Projects and nonmajor governmental funds represents transfers for capital
replacement. The transfer of $501,182 from the Crime District to the Debt Service Fund is for
the repayment of debt. All principal and interest is paid from the Debt Service Fund’s bank
account.
Long-term Liabilities
General Obligation Bonds
The government issues general obligation bonds to provide funds for the acquisition and
construction of major capital facilities. General obligation bonds have been issued for
governmental activities. The original amount of general obligation bonds issued in prior years
was $29,315,000.
General obligation bonds are direct obligations and pledge the full faith and credit of the
government. These bonds generally are issued as 20-year serial bonds with equal amounts of
principal maturing each year. General obligation bonds currently outstanding are as follows:
Purpose Interest Rates Amount
Governmental activities 2% – 5% $ 14,990,000
$ 14,990,000
61
Long-term liability activity for the year ended September 30, 2014, was as follows:
Balance Balance Amounts
September 30, September 30, Due Within
2013 Additions Retirements Refunded 2014 One Year
Governmental activities
General obligation bonds and
certificates of obligation $ 8,675,000 $ – $ 1,015,000 $ – $ 7,660,000 $ 740,000
Premium on bonds 4,593 – 4,593 – – –
Sales tax revenue bonds 7,623,186 7,330,000 23,186 7,600,000 7,330,000 395,000
Capital lease obligations 1,301,624 – 327,586 – 974,038 324,704
Compensated absences 724,840 375,359 352,267 – 747,932 149,586
Total governmental activities 18,288,706 7,705,359 1,682,095 7,600,000 16,711,970 1,609,290
Business-type activities
Revenue bonds and certificates
of obligation 3,220,000 – 995,000 – 2,225,000 685,000
Premium on bonds 79,805 – 9,975 – 69,830 –
Compensated absences 104,893 43,094 46,847 – 101,140 20,228
Total business-type activities 3,404,698 43,094 1,051,822 – 2,395,970 705,228
Total primary government $ 21,693,404 $ 7,748,453 $ 2,733,917 $ 7,600,000 $ 19,107,940 $ 2,314,518
Component unit
Tax increment financing fund
revenue bonds $ 4,225,000 $ – $ 555,000 $ – $ 3,670,000 $ 565,000
Bond premium 125,852 – 20,976 – 104,876 –
Total component unit $ 4,319,508 $ – $ 544,632 $ – $ 3,774,876 $ 565,000
For the governmental activities, compensated absences are generally liquidated by the General
Fund.
62
Governmental activities long-term liabilities at September 30, 2014, consisted of the following:
$2,915,000 Series 2006 General Obligation Refunding bonds
due in annual installments of $25,000 to $540,000 through
February 15, 2019; interest at 3.64%. 2,475,000
$4,325,000 Series 2007 General Obligation Bonds due in
annual installments of $50,000 to $555,000 through February
15, 2027; interest at 4.00% to 5.00%. 4,275,000
$1,435,000 Series 2011 General Obligation Refunding Bonds
due in annual installments of $135,000 to $800,000 through
February 15, 2020; interest at 2.00% to 4.00%. 910,000
Total General Obligation Bonds and Certificates of Obligation $ 7,660,000
General obligation bonds and certificates of obligation serviced by property tax revenue:
$9,570,000 Series 2013 Colleyville Economic Development
Corporation Refunding and Improvement Sales Tax Revenue
Bonds due in annual installments of $340,000 to $635,000
through February 15, 2029; interest at 2.88% $ 7,330,000
Total Revenue Bonds $ 7,330,000
The government issued $7,330,000 of sales tax revenue refunding bonds to provide resources to
purchase U. S. Government State and Local Government securities that were placed in an
irrevocable trust for the purchase of generating resources for all future debt service payments of
$7,600,000 of sales tax revenue refunding. As a result, the refunded bonds are considered to be
defeased and the liability has been removed from the governmental activities column of the
statement of net position. The reacquisition price exceeded the net carrying amount of the old
debt by $270,000. This amount is being netted against the new debt and amortized over the
remaining life of the new debt, which is shorter than the life of the old debt issued. This advance
refunding was undertaken to reduce total debt service payments over the next 15 years by
$693,082 and resulted in an economic gain of $539,838.
The funds utilized for the repayment of long-term liabilities for governmental activities are the
Debt Service Fund, the Crime District Fund and the Colleyville Economic Development
Corporation.
The City’s defeased debt as of September 30, 2014, was $10,770,000.
Business-type activities long-term liabilities at September 30, 2014, consisted of the following:
$1,890,000 Series 2010 Waterworks and Wastewater System
Refunding Bonds due in annual installments of $155,000 to
$580,000 through January 1, 2018; interest at 2.00% – 3.00%. 1,310,000
Total Water and Wastewater Fund $ 1,310,000
Water and Wastewater Fund:
63
Drainage Utility Fund:
$1,135,000 Series 2011 Waterworks and Wastewater System
Refunding Bonds due in annual installments of $105,000 to
$225,000 through February 15, 2021; interest at 3.47%. $ 915,000
Total Drainage Utility Fund $ 915,000
Total Business-type activities $ 2,225,000
The ordinances authorizing the issuance of Waterworks and Wastewater System Revenue Bonds
created the Interest and Sinking Fund and Reserve Fund. The gross revenue of the waterworks
and wastewater system, after deduction of reasonable expenses of operations and maintenance,
are pledged to such funds in amounts equal to the total annual principal and interest requirements
of the bonds and amounts required to maintain the Reserve Fund. At September 30, 2014, the
City was in compliance with these requirements.
The City’s component unit, the Tax Increment Financing District, long-term liabilities at
September 30, 2014, consisted of the following:
$4,225,000 Series 2011 Refunding Bonds due in installments
of $490,000 to $665,000 beginning in 2012 through February
15, 2020; interest at 2.0% to 4.0%. $ 3,670,000
Total Tax Increment Financing District $ 3,670,000
Tax Increment Financing District
September 30, Principal Interest Principal Interest
2015 $ 740,000 $ 278,384 $ 395,000 $ 205,416
2016 770,000 251,258 410,000 193,824
2017 795,000 223,179 420,000 181,872
2018 810,000 194,388 425,000 169,704
2019 850,000 163,825 445,000 157,176
2020-2024 2,105,000 542,900 2,430,000 582,624
2025-2029 1,590,000 97,400 2,805,000 206,712
$ 7,660,000 $ 1,751,334 $ 7,330,000 $ 1,697,328
Governmental Activities
General
Obligation Bonds and
Certificates of Obligation Revenue Bonds
64
September 30, Principal Interest
2015 $ 685,000 $ 57,947
2016 450,000 42,446
2017 460,000 28,291
2018 265,000 16,899
2019 115,000 10,670
2020-2024 250,000 8,675
$ 2,225,000 $ 164,928
Business-type Activities
Revenue Bonds
September 30, Principal Interest
2015 $ 565,000 $ 114,675
2016 585,000 97,425
2017 600,000 79,650
2018 615,000 61,425
2019 640,000 39,400
2020-2024 665,000 13,300
$ 3,670,000 $ 405,875
Discretely Presented Component Unit –
Tax Increment Financing Fund
Revenue Bonds
Capital Leases
The City has entered into lease agreements as lessee for financing and acquisition of equipment
for the Fire Department. These lease agreements qualify as capital leases for accounting
purposes and, therefore, have been recorded at the present value of its future minimum lease
payments as of the inception date.
The assets acquired through capital leases are as follows:
Governmental
Activities
Asset:
Machinery and equipment $ 2,564,713
Less: accumulated depreciation ( 518,333)
Total $ 2,046,380
65
The future minimum lease obligations and the net present value of these minimum lease
payments as of September 30, 2014, were as follows:
Governmental
Activities
2015 $ 363,808
2016 314,086
2017 161,419
2018 116,839
2019 116,839
Total minimum lease payments 1,072,991
Less: amount representing interest ( 98,953)
Present value of minimum lease payments $ 974,038
Employees’ Retirement System
Plan Description
The City provides pension benefits for all of its eligible employees through a non-traditional, joint
contributory, hybrid defined benefit plan in the statewide Texas Municipal Retirement System
(TMRS), an agent multiple-employer public employee retirement system. The plan provisions that
have been adopted by the City are within the options available in the governing state statutes of
TMRS.
TMRS issues a publicly available comprehensive annual financial report that includes financial
statements and required supplementary information (RSI) for TMRS; the report also provides
detailed explanations of the contributions, benefits and actuarial methods and assumptions used by
the System. This report may be obtained from TMRS’ website at www.TMRS.com.
The plan provisions are adopted by the governing body of the City, within the options available in
the state statutes governing TMRS. Plan provisions for the City were as follows:
Plan Year 2012 Plan Year 2013 Plan Year 2014
Employee deposit rate 7.0% 7.0% 7.0%
Matching ratio (city to employee) 2 to 1 2 to 1 2 to 1
Years required for vesting 5 5 5
Service retirement eligibility
(expressed as age/years of service) 60/5, 0/20 60/5, 0/20 60/5, 0/20
Updated service credit 100% repeating, 100% repeating, 100% repeating,
transfers transfers transfers
Annuity increase (to retirees) 0% of CPI 0% of CPI 0% of CPI
66
Contributions
Under the state law governing TMRS, the contribution rate for each city is determined annually by
the actuary, using the Entry Age Normal (EAN) cost method (EAN was first used in the December
31, 2013 valuation; previously, the Projected Unit Credit actuarial cost method had been used).
This rate consists of the normal cost contribution rate and the prior service cost contribution rate,
which is calculated to be a level percent of payroll from year to year. The normal cost contribution
rate for an employee is the contribution rate which, if applied to a member’s compensation
throughout their period of anticipated covered service with the municipality, would be sufficient to
meet all benefits payable on their behalf. The salary-weighted average of the individual rates is the
total normal cost rate. The prior service contribution rate amortizes the unfunded (overfunded)
actuarial liability (asset) over the applicable period for that city. Both the normal cost and prior
service contribution rates include recognition of the projected impact of annually repeating
benefits, such as Updated Service Credits and Annuity Increases.
The City contributes to the TMRS Plan at an actuarially determined rate. Both the employees
and the City make contributions monthly. Since the City needs to know its contribution rate in
advance for budgetary purposes, there is a one-year delay between the actuarial valuation that
serves as the basis for the rate and the calendar year when the rate goes into effect. The annual
pension cost and net pension obligation/(asset) are as follows:
Accounting Annual Percentage Net
Year Pension of APC Pension
Ending Cost (APC) Contributed Obligation
09/30/12 $ 817,843 100% –
09/30/13 743,803 100% –
09/30/14 754,871 100% –
The required contribution rates for fiscal year 2014 were determined as part of the December 31,
2011 and 2012 actuarial valuations. Additional information as of the latest actuarial valuation,
December 31, 2013, also follows:
Actuarial Valuation Date 12/31/11 12/31/12 12/31/13
Actuarial cost method Projected Unit Credit Projected Unit Credit Entry Age Normal
Amortization method Level percent Level percent Level percent
of payroll of payroll of payroll
Asset valuation method 10-year smoothed 10-year smoothed 10-year smoothed
market market market
Actuarial Assumptions:
Investment rate of return 7.0% 7.0% 7.0%
Projected salary increases varies by age varies by age varies by age
and service and service and service
Inflation 3.0% 3.0% 3.0%
Cost-of-living adjustments 0% 0% 0%
GASB 25 Equivalent Single 27.3 years; 26.8 years; 27.7 years;
amortization period closed period closed period closed period
Amortization period for
new gains/losses 25 years 25 years 25 years
67
Funded Status and Fund Progress
The funded status as of December 31, 2013, the most recent actuarial valuation date, is presented
as follows:
Acturarial accrued liability (AAL) $ 42,047,025
Acturarial value of plan assets 43,722,138
Unfunded (overfunded) actuarial accrued liability (UAAL) ( 1,675,113)
Funded ratio (actuarial value of plan assets/ALL) 104.0%
Covered payroll (annual payroll of active
employees covered plan) 10,452,089
UAAL as a percentage of covered payroll ( 16.0%)
Actuarial valuations involve estimates of the value of reported amounts and assumptions about
the probability of events far into the future. Actuarially determined amounts are subject to
continual revision as actual results are compared to past expectations and new estimates are
made about the future. Actuarial calculations are based on the benefits provided under the terms
of the substantive plan in effect at the time of each valuation, and reflect a long-term perspective.
Consistent with that perspective, actuarial methods and assumptions used include techniques that
are designed to reduce short-term volatility in actuarial accrued liabilities and the actuarial value
of assets.
The schedule of funding progress, presented as Required Supplementary Information following
the notes to the financial statements, presents multi-year trend information about whether the
actuarial value of plan assets is increasing or decreasing over time relative to the actuarial
accrued liability of benefits.
Water and Wastewater Contracts
The City has two contracts with the Trinity River Authority of Texas (TRA) for the purchase of treated
water and for the transportation, treatment and disposal of sanitary sewage and other waste. The initial
terms of the contracts are 35 and 50 years, and they expire in 2014 and 2023. While the provisions of
each of the contracts vary, each contract basically requires the City to pay varying amounts based on
the costs associated with water purchased and sewage transported and/or treated and disposed. The
cost includes the City’s proportionate share of TRA’s operating and maintenance expenses, related debt
service costs, and certain other miscellaneous charges. Purchases of treated water and charges for the
transportation, treatment and disposal of sewage and other wastes during fiscal year 2014 amounted to
approximately $7,315,501 and $1,899,907, respectively.
Advances from Developers
Developers are required by ordinance to construct perimeter streets and related storm drainage
facilities. The developer may request a waiver from the Council for the construction requirements
and instead deposit escrow funds with the City equal to one-half of the estimated cost of
construction, which are utilized by the City to complete the project at some later date. At September
30, 2014, developers had escrowed $3,004,790 with the City in connection with developer
agreements.
Contingent Liabilities
The City has been named as a defendant or co-defendant in a number of legal actions. While the
outcome of these cases is not known at this time, City management believes that any awards to
insured parties which must be paid in excess of amounts covered by insurance will not be
material to the financial position of the City.
68
Risk Financing and Insurance
The City is exposed to various risks of loss related to torts, theft of, damage to, and destruction
of assets; errors and omissions; injuries to employees; and natural disasters. During the fiscal
year 1974, the City joined the Texas Municipal League Workers Compensation Joint Insurance
Fund for risks related to employees. During the fiscal year 1992, the City joined the Texas
Municipal League Joint Insurance Fund for risks related to general liability, property and errors
and omissions. Premiums are paid to the Pool, which retains a limit of loss. Reinsurance
companies insure the risks beyond those limits. The City retains, as a risk, only the deductible
amount of each policy. There have been no significant reductions in insurance coverage and no
settlements exceeded insurance coverage in the past three fiscal years.
Other Postemployment Benefits
Supplemental Death Benefits Fund
The City also participates in the cost sharing multiple-employer defined benefit group term life
insurance plan operated by the Texas Municipal Retirement System (TMRS) known as the
Supplemental Death Benefits Fund (SDBF). The City elected, by ordinance to provide group
term life insurance coverage to both current and retired employees. The City may terminate
coverage under and discontinue participation in the SDBF by adopting an ordinance before
November 1 of any year to be effective the following January 1.
The death benefit for active employees provides a lump sum payment approximately equal to the
employee’s annual salary (calculated based on the employee’s actual earnings, for the 12-month
period preceding the month of death); retired employees are insured for $7,500; this coverage is
an “other postemployment benefit,” or OPEB.
The City’s contributions to the TMRS SDBF for the years ended 2014, 2013, and 2012 were
$16,837, 15,132, and $14,480, respectively, which equaled the required contributions each year.
Annual Actual
Accounting Required Contribution Percentage
Year Contribution Made of ARC
Ending (Rate) (Rate) Contributed
09/30/12 .013% .013% 100%
09/30/13 .015% .015% 100%
09/30/14 .016% .016% 100%
Schedule of Contribution Rates
Prior Year Adjustment – Change in Accounting Principles
As a result of implementing GASB Statement 65, the City has decreased beginning net position
as of October 1 2014 by $158,812 for the governmental activities and $88,627 for the businesstype
activities. These decreases result from no longer deferring and amortizing bond issuance
costs.
Further, the City has reclassified its deferred loss on bond refunding, previously reported as a
component of long-term debt, to deferred outflows of resources in the government-wide
statements in accordance with GASB 65. The effect of this change increases the long-term
liabilities of the business-type activities by $133,525, and corresponds to an increase in deferred
outflows of resources as of October 1, 2014.
69
REQUIRED
SUPPLEMENTARY INFORMATION
70
THIS PAGE INTENTIONALLY LEFT BLANK
71
CITY OF COLLEYVILLE, TEXAS
REQUIRED SUPPLEMENTARY INFORMATION
TEXAS MUNICIPAL RETIREMENT SYSTEM
SCHEDULE OF FUNDING PROGRESS
Unfunded
Actuarial Actuarial Actuarial Actuarial Annual Accrued Liability
Valuation Value of Accrued Funded Accrued Covered as a Percentage
Date Assets Liability Ratio Liability Payroll of Covered Payroll
12/31/2011 38,477,205 36,643,865 1 05.0% ( 1,833,340) 9,661,349 ( 1 9.0%)
12/31/2012 41,091,987 38,639,275 1 06.3% ( 2,452,712) 9,940,381 ( 2 4.7%)
12/31/2013 43,722,138 42,047,025 1 04.0% ( 1,675,113) 10,542,089 ( 1 6.0%)
72
NONMAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS
Special Revenue Funds are used to account for specific revenues that are legally restricted to
expenditure for particular purposes.
Voluntary Park – This fund is used to account for the operations for which voluntary
contributions by citizens are used. Contributions are used primarily to support park
activities.
Voluntary Library – This fund is used to account for the operations for which voluntary
contributions by citizens are used. Contributions are used primarily to support library
activities.
Police Asset Forfeiture –This fund is used to account for activity related to seizure of assets
in criminal-related activities.
Tree Preservation – This fund is used to account for operations related to replacement of
trees, which are eliminated due to commercial development. Contributions are received from
entities that are developing the property.
Library Donation – This fund is used to account for private and corporate donations for
capital purchases related to the library building for the City.
Recreational Event – This fund is used to account for activities related to special events for
the City.
Colleyville Center Development – This fund is used to account for contributions received to
construct a community center.
Recycling – This fund is used to account for the promotion of recycling activities in the City
of Colleyville. Contributions are received from the holder of the City’s recycling franchise.
LEOSE (Law Enforcement Officer Standards and Education) – This fund is used to
account for activities related to the continuing education of qualified law enforcement
officers as funded by the State of Texas LEOSE Account.
Colleyville Economic Development – This fund is used to account for the use of bond
proceeds and sales tax revenues for municipal park improvements, the purchase of land and
equipment for additional neighborhood parks and for the construction of a community center
and library.
Crime District – This fund is used to account for the Colleyville Crime Control and
Prevention District formed to act on behalf of the City for financing the development of
crime control throughout the City.
73
Kidsville Maintenance – This fund is used to account for contributions received for the
maintenance of Kidsville Playground.
Special Donations – This fund is used to account for various donations made to the City for
specific projects.
Court Technology – This fund is used to account for the collection and use of fines collected to
be specifically used on technology for the court.
Court Security – This fund is used to account for the collection and use of fines collected to be
specifically used for security purposes.
TDPA Grant – This fund is used to account for grant proceeds received for the acquisition of
equipment and expenditures relating to fire and rescue.
Public Art – This fund is used to account for the acquisition of art to be placed in City owned
facilities with high public visibility.
Juvenile Case Manager – This fund is used to account for staff, whose primary role is handling
juvenile defendants in terms of teen court dockets, all school violations including truancy, failure
to attend school and parental noncompliance violations, and mandatory classes for drug, tobacco
and alcohol defendants, as permitted by state statute.
CAPITAL PROJECTS FUNDS
Capital Projects Funds are used to account for the acquisition and construction of major capital
facilities other than those financed by proprietary funds and trust funds.
Colleyville Tomorrow Fund – is used to account for proceeds received on gas leases on Cityowned
property to be used for capital purchases.
Parks Tomorrow Fund – This fund is used to account for proceeds received on gas leases on
City-owned parks property for parks capital projects.
Park Land Dedication Fund – This fund is used to account for the acquisition of land for new
park sites and to make improvements to or expand existing parks to better serve new
development. Fees collected from the developers of residential and commercial development
finance the improvements.
Colleyville Economic Development Corporation (CEDC) – This fund is used to account for
financial resources to be used for the acquisition or construction or CEDC capital facilities.
Financing is provided primarily by the revenue from certificate of obligation bonds.
Capital and Cable Equipment Replacement – This fund is used to account for the replacement
of cable equipment and other capital equipment.
Kimzey Park – This fund is used to account for the construction of Kimzey Park. The source of
funding was a Texas Parks and Wildlife state grant.
Voluntary Park
Voluntary
Library
Police Asset
Forfeiture
ASSETS
Cash and cash equivalents $ 161,080 $ 44,837 $ 4,188
Investments 599,816 358,841 –
Due from other governments – – –
Accrued interest 648 423 –
Total assets $ 761,544 $ 404,101 $ 4,188
LIABILITIES
Accounts payable $ – $ – $ –
Accrued liabilities – – –
Advances from developers – – –
Total liabilities – – –
FUND BALANCES
Restricted – – 4,188
Committed 761,544 404,101 –
Assigned – – –
Total fund balances 761,544 404,101 4,188
Total liabilities and fund balances $ 761,544 $ 404,101 $ 4,188
CITY OF COLLEYVILLE, TEXAS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2014
Special Revenue Funds
74
Tree
Preservation
Library
Donation
Recreational
Event
Colleyville
Center
Development Recycling LEOSE
$ 39,279 $ 135,259 $ 4,475 $ 5,857 $ 1,627 $ 1,057
– – – – – –
– – – – – –
– – – – – –
$ 39,279 $ 135,259 $ 4,475 $ 5,857 $ 1,627 $ 1,057
$ – $ – $ – $ – $ – $ –
– – – – – –
13,724 – – – – –
13,724 – – – – –
– 135,259 – 5,857 – 1,057
25,555 – – – – –
– – 4,475 – 1,627 –
25,555 135,259 4,475 5,857 1,627 1,057
$ 39,279 $ 135,259 $ 4,475 $ 5,857 $ 1,627 $ 1,057
Special Revenue Funds
75
Colleyville
Economic
Development Crime District
Kidsville
Maintenance
ASSETS
Cash and cash equivalents $ 1,910,535 $ 1,150,357 $ 20,426
Investments 511,531 – –
Due from other governments 313,595 265,321 –
Accrued interest 209 – –
Total assets $ 2,735,870 $ 1,415,678 $ 20,426
LIABILITIES
Accounts payable $ 1,875 $ 122 $ –
Accrued liabilities – 16,242 –
Advances from developers – – –
Total liabilities 1,875 16,364 –
FUND BALANCES
Restricted 2,733,995 1,399,314 20,426
Committed – – –
Assigned – – –
Total fund balances 2,733,995 1,399,314 20,426
Total liabilities and fund balances $ 2,735,870 $ 1,415,678 $ 20,426
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2014
(Continued)
CITY OF COLLEYVILLE, TEXAS
COMBINING BALANCE SHEET
Special Revenue Funds
76
Special
Donations
Court
Technology Court Security TDPA Grant Public Art
Juvenile Case
Manager
$ 62,522 $ 28,672 $ 73,039 $ 8 ,133 $ 7 ,904 $ 10,196
– – – – – –
– – – – – –
– – – – – –
$ 62,522 $ 28,672 $ 73,039 $ 8 ,133 $ 7 ,904 $ 10,196
$ – $ – $ – $ – $ – $ 20
– – 393 – – 1,728
– – – – – –
– – 393 – – 1,748
62,522 28,672 72,646 8 ,133 – 8,448
– – – – – –
– – – – 7 ,904 –
62,522 28,672 72,646 8 ,133 7 ,904 8,448
$ 62,522 $ 28,672 $ 73,039 $ 8 ,133 $ 7 ,904 $ 10,196
Special Revenue Funds
77
Colleyville
Tomorrow
Parks
Tomorrow
Park Land
Dedication
ASSETS
Cash and cash equivalents $ 1,848,708 $ 1,196,364 $ 625,363
Investments 374,803 – 1,404,434
Due from other governments – – –
Accrued interest 434 – 1,529
Total assets $ 2,223,945 $ 1,196,364 $ 2,031,326
LIABILITIES
Accounts payable $ – $ – $ –
Accrued liabilities – – –
Advances from developers – – –
Total liabilities – – –
FUND BALANCES
Restricted – – –
Committed 2,223,945 1,196,364 2,031,326
Assigned – – –
Total fund balances 2,223,945 1,196,364 2,031,326
Total liabilities and fund balances $ 2,223,945 $ 1,196,364 $ 2,031,326
SEPTEMBER 30, 2014
Capital Project Funds
CITY OF COLLEYVILLE, TEXAS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
(Continued)
78
CEDC Capital
Project
Capital and
Cable
Equipment
Replacement Kimzey Park
Total
Governmental
Funds
$ 146,825 $ 301,125 $ 3 ,576 $ 7,791,404
– 450,311 – 3,699,736
– – – 578,916
– 645 – 3,888
$ 146,825 $ 752,081 $ 3 ,576 $ 12,073,944
$ – $ 179 $ – $ 2,196
– – – 18,363
– – – 13,724
– 179 – 34,283
– – – 4,480,517
146,825 – 3 ,576 6,793,236
– 751,902 – 765,908
146,825 751,902 3 ,576 12,039,661
$ 146,825 $ 752,081 $ 3 ,576 $ 12,073,944
Capital Project Funds
79
Voluntary Park
Voluntary
Library
Police Asset
Forfeiture
REVENUES
Taxes $ – $ – $ –
Fees and fines – – –
Intergovernmental – – –
Charges for services – – –
Donations 157,816 157,816 –
Investment earnings 1,599 404 –
Miscellaneous – – –
Total revenues 159,415 158,220 –
EXPENDITURES
Current:
General government – – –
Community development and engineering – – –
Fire and rescue – – –
Leisure services 25,645 142,433 –
Municipal court – – –
Police – – 2,499
Debt service:
Interest and other charges – – –
Capital outlay – – –
Total expenditures 25,645 142,433 2,499
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 133,770 15,787 ( 2,499)
OTHER FINANCING SOURCES (USES)
Proceeds from long-term debt, net – – –
Payment to bond escrow agent
Sale of capital assets – – –
Transfers in – – –
Transfers out – – –
Total other financing sources and uses – – –
NET CHANGE IN FUND BALANCES 133,770 15,787 ( 2,499)
FUND BALANCES, BEGINNING 627,774 388,314 6,687
FUND BALANCES, ENDING $ 761,544 $ 404,101 $ 4,188
Special Revenue Funds
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
80
Tree
Preservation
Library
Donation
Recreational
Event
Colleyville
Center
Development Recycling LEOSE
$ – $ – $ – $ – $ – $ –
– – – – – –
– – – – – 4,002
– – – – – –
20,852 34,973 8,075 7,000 – –
– – – – – –
– – – – 15,000 –
20,852 34,973 8,075 7,000 15,000 4,002
– – – – 11,052 –
– – – – – –
– – – – – 740
– 27,155 3,600 7,000 – –
– – – – – –
– – – – – 10,561
– – – – – –
– – – – – –
– 27,155 3,600 7,000 11,052 11,301
20,852 7,818 4,475 – 3,948 ( 7,299)
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
20,852 7,818 4,475 – 3,948 ( 7,299)
4,703 127,441 – 5,857 ( 2,321) 8,356
$ 25,555 $ 135,259 $ 4,475 $ 5,857 $ 1,627 $ 1,057
Special Revenue Funds
81
Colleyville
Economic
Development Crime District
Kidsville
Maintenance
REVENUES
Taxes $ 1,673,351 $ 1,447,116 $ –
Fees and fines – – –
Intergovernmental – – –
Charges for services – – –
Donations – – –
Investment earnings 2,477 871 –
Miscellaneous – – –
Total revenues 1,675,828 1,447,987 –
EXPENDITURES
Current:
General government – – –
Community development and engineering 164,451 – –
Fire and rescue – – –
Leisure services 131,068 – –
Municipal court – – –
Police – 585,892 –
Debt service:
Interest and other charges 372,808 – –
Capital outlay 115,547 218,892 –
Total expenditures 783,874 804,784 –
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 891,954 643,203 –
OTHER FINANCING SOURCES (USES)
Proceeds from long-term debt, net 7,330,000 – –
Payment to bond escrow agent ( 7,600,000) – –
Sale of capital assets – 50,709 –
Transfers in – – –
Transfers out ( 165,332) ( 511,182) –
Total other financing sources and uses ( 435,332) ( 460,473) –
NET CHANGE IN FUND BALANCES 456,622 182,730 –
FUND BALANCES, BEGINNING 2,277,373 1,216,584 20,426
FUND BALANCES, ENDING $ 2,733,995 $ 1,399,314 $ 20,426
COMBINING STATEMENT OF REVENUES, EXPENDITURES
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Special Revenue Funds
AND CHANGES IN FUND BALANCES
CITY OF COLLEYVILLE, TEXAS
NONMAJOR GOVERNMENTAL FUNDS
(Continued)
82
Special
Donations
Court
Technology Court Security TDPA Grant Public Art
Juvenile Case
Manager
$ – $ – $ – $ – $ – $ –
– 30,261 2 2,585 – – 65,107
2,273 – – – – –
– 23,850 – – – –
20,632 – – – – –
– – – – – –
– – – – – –
22,905 54,111 2 2,585 – – 65,107
– – – – – –
– – – – – –
7,241 – – – – –
6,383 – – – – –
– 52,941 2 3,848 – – 54,005
805 – – – – –
– – – – – –
– – – – – –
14,429 52,941 2 3,848 – – 54,005
8,476 1,170 ( 1 ,263) – – 11,102
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
8,476 1,170 ( 1 ,263) – – 11,102
54,046 27,502 7 3,909 8 ,133 7,904 ( 2,654)
$ 62,522 $ 28,672 $ 7 2,646 $ 8 ,133 $ 7,904 $ 8,448
Special Revenue Funds
83
Colleyville
Tomorrow
Parks
Tomorrow
Park Land
Dedication
REVENUES
Taxes $ – $ – $ –
Fees and fines – – –
Intergovernmental – – –
Charges for services – – –
Donations – – 5 11,449
Investment earnings 2,052 1,153 2 ,715
Miscellaneous – – –
Total revenues 2,052 1,153 5 14,164
EXPENDITURES
Current:
General government – – –
Community development and engineering – – –
Fire and rescue – – –
Leisure services 14,926 6,088 –
Municipal court – – –
Police – – –
Debt service:
Interest and other charges – – –
Capital outlay 247,882 – 1 09,378
Total expenditures 262,808 6,088 1 09,378
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES ( 260,756) ( 4,935) 4 04,786
OTHER FINANCING SOURCES (USES)
Proceeds from long-term debt, net – – –
Payment to bond escrow agent – – –
Sale of capital assets – – –
Transfers in 228,650 – –
Transfers out – – –
Total other financing sources and uses 228,650 – –
NET CHANGE IN FUND BALANCES ( 32,106) ( 4,935) 4 04,786
FUND BALANCES, BEGINNING 2,256,051 1,201,299 1 ,626,540
FUND BALANCES, ENDING $ 2,223,945 $ 1,196,364 $ 2 ,031,326
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
(Continued)
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Capital Project Funds
84
CEDC Capital
Project
Capital and
Cable
Equipment
Replacement Kimzey Park
Total
Governmental
Funds
$ – $ – $ – $ 3,120,467
– – – 117,953
– – – 6,275
– – – 23,850
– – – 918,613
– 1,873 – 13,144
– – – 15,000
– 1,873 – 4,215,302
– 93,984 – 105,036
– – – 164,451
– – – 7,981
2,500 – – 366,798
– – – 130,794
– 11,567 – 611,324
– – – 372,808
4,500 373,495 – 1,069,694
7,000 479,046 – 2,828,886
( 7,000) ( 477,173) – 1,386,416
– – – 7,330,000
– – – ( 7,600,000)
– 29,368 – 80,077
– 297,000 – 525,650
– – – ( 676,514)
– 326,368 – ( 340,787)
( 7,000) ( 150,805) – 1,045,629
153,825 902,707 3,576 10,994,032
$ 146,825 $ 751,902 $ 3,576 $ 12,039,661
Capital Project Funds
85
Variance with
Budget –
Positive
Budget Actual (Negative)
REVENUES
Taxes $ 1,029,974 $ 1 ,154,810 $ 1 24,836
Investment earnings 1,975 8 81 ( 1 ,094)
Total revenues 1,031,949 1 ,155,691 1 23,742
EXPENDITURES
Debt service:
Principal retirement 1,342,586 1 ,342,586 –
Interest and fiscal charges 343,211 3 43,420 ( 2 09)
Total expenditures 1,685,797 1 ,686,006 ( 2 09)
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES ( 653,848) ( 5 30,315) 1 23,533
OTHER FINANCING SOURCES
Transfers in 501,182 5 01,182 –
Total other financing sources 501,182 5 01,182 –
NET CHANGE IN FUND BALANCE ( 152,666) ( 2 9,133) 1 23,533
FUND BALANCE, BEGINNING 931,623 9 31,623 –
FUND BALANCE, ENDING $ 778,957 $ 9 02,490 $ 1 23,533
FOR THE YEAR ENDED SEPTEMBER 30, 2014
CITY OF COLLEYVILLE, TEXAS
DEBT SERVICE FUND
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE – BUDGET AND ACTUAL
86
87
AGENCY FUNDS
Employee Activity Fund – This fund is used to account for funds held by the City for the benefit
of employees of the City.
Sesquicentennial Fund – This fund is used to account for funds held by the City for the benefit
of the City of Colleyville’s historical purposes.
Employee
Activity Sesquicentennial
Fund Fund Total
ASSETS
Cash and cash equivalents $ 7,106 $ 18,405 $ 25,511
Total assets $ 7,106 $ 18,405 $ 25,511
LIABILITIES
Due to other agencies and individuals $ 7,106 $ 18,405 $ 25,511
Total liabilities $ 7,106 $ 18,405 $ 25,511
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF FIDUCIARY NET POSITION
AGENCY FUNDS
SEPTEMBER 30, 2014
88
Balance Balance
10/01/13 Additions Deletions 09/30/14
Cash and cash equivalents $ 6,410 $ 3,264 $ 2,568 $ 7,106
Total assets $ 6,410 $ 3,264 $ 2,568 $ 7,106
Due to other agencies and individuals $ 6,410 $ 3,264 $ 2,568 $ 7,106
Total liabilities $ 6,410 $ 3,264 $ 2,568 $ 7,106
Balance Balance
10/01/13 Additions Deletions 09/30/14
Cash and cash equivalents $ 17,873 $ 532 $ – $ 18,405
Total assets $ 17,873 $ 532 $ – $ 18,405
Due to other agencies and individuals $ 17,873 $ 532 $ – $ 18,405
Total liabilities $ 17,873 $ 532 $ – $ 18,405
Balance Balance
10/01/13 Additions Deletions 09/30/14
Cash and cash equivalents $ 24,283 $ 3,796 $ 2,568 $ 25,511
Total assets $ 24,283 $ 3,796 $ 2,568 $ 25,511
Due to other agencies and individuals $ 24,283 $ 3,796 $ 2,568 $ 25,511
Total liabilities $ 24,283 $ 3,796 $ 2,568 $ 25,511
Employee Activity Fund
Sesquicentennial Fund
Total Agency Funds
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF CHANGES IN
AGENCY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
ASSETS AND LIABILITIES
89
90
THIS PAGE INTENTIONALLY LEFT BLANK
91
STATISTICAL SECTION
This part of the City of Colleyville, Texas’ comprehensive annual financial report
presents detailed information as a context for understanding what the information in the
financial statements, note disclosures, and required supplementary information says about
the government’s overall financial health.
Contents Page
Financial Trends 92
These schedules contain trend information to help the reader
understand how the government’s financial performance and wellbeing
have changed over time.
Revenue Capacity 102
These schedules contain information to help the reader assess the
government’s most significant local revenue source, the property
tax.
Debt Capacity 107
These schedules present information to help the reader assess the
affordability of the government’s current levels of outstanding debt
and the government’s ability to issue additional debt in the future.
Demographic and Economic Information 114
These schedules offer demographic and economic indicators to
help the reader understand the environment within which the
government’s financial activities take place.
Operating Information 116
These schedules contain service and infrastructure data to help the
reader understand how the information in the government’s financial
report relates to the services the government provides and the
activities it performs.
Sources: Unless otherwise noted, the information in these schedules is derived from the
comprehensive annual financial reports for the relevant year.
2005 2006 2007
Governmental activities:
Net investment in capital assets $ 60,884,756 $ 66,991,146 $ 71,824,719
Restricted for:
Debt service 896,130 937,578 1,032,586
Court security and technology – – –
Grant programs – – –
Leisure services – – –
Economic development – – –
Streets and drainage – – –
Police – – –
Unrestricted 19,132,376 19,002,816 21,987,778
Total governmental activities net position $ 80,913,262 $ 86,931,540 $ 94,845,083
Business-type activities:
Net investment in capital assets $ 24,827,365 $ 25,919,619 $ 32,804,703
Restricted for:
Debt service 670,571 882,821 1,080,751
Unrestricted 16,374,236 19,253,772 13,626,274
Total business-type activities net position $ 41,872,172 $ 46,056,212 $ 47,511,728
Primary government:
Net investment in capital assets $ 85,712,121 $ 92,910,765 $ 104,629,422
Restricted for:
Debt service 1,566,701 1,820,399 2,113,337
Court security and technology – – –
Grant programs – – –
Leisure services – – –
Economic development – – –
Streets and drainage – – –
Police – – –
Unrestricted 35,506,612 38,256,588 35,614,052
Total primary government net position $ 122,785,434 $ 132,987,752 $ 142,356,811
Note: The City implemented GASB 54 in fiscal year 2011 to provide clearer fund balance classifications.
Prior years were not restated.
Fiscal Year
CITY OF COLLEYVILLE, TEXAS
NET POSITION BY COMPONENT
(Accrual Basis of Accounting)
92
TABLE 1
2008 2009 2010 2011 2012 2013 2014
$ 77,484,725 $ 79,243,497 $ 81,970,674 $ 83,166,142 $ 83,211,988 $ 84,414,252 $ 89,754,051
889,689 1,040,896 1,057,699 1,106,893 1,159,092 857,143 831,073
– – – 153,420 91,637 101,411 109,766
– – – 23,208 21,116 16,489 9,190
– – – 201,184 207,736 207,770 224,064
– – – 1,863,900 1,998,845 2,277,373 2,733,995
– – – 6,428,106 8,192,568 8,432,946 12,188,836
– – – 994,913 1,143,454 1,223,271 1,403,502
21,862,136 27,498,864 25,936,703 17,837,593 19,559,719 18,680,620 17,930,939
$ 100,236,550 $ 107,783,257 $ 108,965,076 $ 111,775,359 $ 115,586,155 $ 116,211,275 $ 125,185,416
$ 39,442,148 $ 39,174,562 $ 39,080,043 $ 38,892,098 $ 38,395,708 $ 39,269,943 $ 41,567,161
1,024,349 987,181 983,225 662,050 – – –
7,837,790 8,127,736 7,747,336 10,111,776 12,332,238 13,702,724 14,827,594
$ 48,304,287 $ 48,289,479 $ 47,810,604 $ 49,665,924 $ 50,727,946 $ 52,972,667 $ 56,394,755
$ 116,926,873 $ 118,418,059 $ 121,050,717 $ 122,058,240 $ 121,607,696 $ 123,684,195 $ 131,321,212
1,914,038 2,028,077 2,040,924 1,768,943 1,159,092 857,143 831,073
– – – 153,420 91,637 101,411 109,766
– – – 23,208 21,116 16,489 9,190
– – – 201,184 207,736 207,770 224,064
– – – 1,863,900 1,998,845 2,277,373 2,733,995
– – – 6,428,106 8,192,568 8,432,946 12,188,836
– – – 994,913 1,143,454 1,223,271 1,403,502
29,699,926 35,626,600 33,684,039 27,949,369 31,891,957 32,383,344 32,758,533
$ 148,540,837 $ 156,072,736 $ 156,775,680 $ 161,441,283 $ 166,314,101 $ 169,183,942 $ 181,580,171
Fiscal Year
93
2005 2006 2007
EXPENSES
Governmental activities:
General government $ 2,245,964 $ 2,729,064 $ 2,438,051
Community Development and Engineering 1,164,345 1,267,136 1,523,768
Fire and rescue 3,325,103 3,814,585 3,790,831
Leisure services 2,923,958 3,513,992 3,525,094
Maintenance 364,434 383,504 434,984
Municipal court 238,874 270,345 262,198
Police 3,533,083 3,801,644 4,232,185
Streets and drainage 2,970,475 2,932,465 2,890,995
Interest on long-term debt 1,190,857 1,142,043 1,032,374
Total governmental activities expenses 17,957,093 19,854,778 20,130,480
Business-type activities:
Water and wastewater 8,962,630 9,428,373 9,337,282
Drainage 550,005 548,963 671,773
Interest on long-term debt – 440,703 400,752
Total business-type activities expenses 9,512,635 10,418,039 10,409,807
Total primary government program expenses $ 27,469,728 $ 30,272,817 $ 30,540,287
PROGRAM REVENUES
Governmental activities:
Charges for services:
General government $ 6,000 $ 6,000 $ 6,000
Community Development and Engineering 1,515,052 2,163,596 1,454,744
Fire and rescue 136,498 239,386 303,868
Leisure services 386,658 448,606 424,024
Municipal court 492,805 813,781 932,452
Police 95,234 70,899 81,054
Streets and drainage 336,111 472,860 355,157
Operating grants and contributions 523,704 399,819 431,683
Capital grants and contributions 3,283,774 4,355,357 5,372,281
Total governmental activities program revenues 6,775,836 8,970,304 9,361,263
CITY OF COLLEYVILLE, TEXAS
CHANGES IN NET POSITION
(Accrual Basis of Accounting)
Fiscal Year
94
2008 2009 2010 2011 2012 2013 2014
$ 2,814,874 $ 2,945,481 $ 2,691,905 $ 2,715,154 $ 3,125,214 $ 4,075,001 $ 4,103,928
1,481,124 1,530,901 1,645,221 1,402,669 1,397,839 1,429,755 1,613,311
3,958,111 4,113,793 4,419,945 4,421,496 4,321,929 4,529,225 4,625,036
4,033,105 3,941,259 4,118,769 4,191,960 4,124,619 4,106,822 3,776,068
417,265 455,752 423,783 412,513 400,306 494,545 575,696
324,020 291,724 302,756 303,839 319,445 586,709 501,604
4,657,438 4,841,217 4,836,274 4,878,055 4,579,570 4,961,444 5,019,343
3,129,730 3,503,519 3,885,182 3,657,591 3,073,530 5,322,510 4,128,365
1,101,714 1,051,180 1,000,061 849,390 780,029 724,458 717,045
21,917,381 22,674,826 23,323,896 22,832,667 22,122,481 26,230,469 25,060,396
11,179,548 10,612,372 11,242,553 12,009,187 12,258,587 12,544,530 13,238,893
593,600 658,016 572,234 742,160 723,994 707,647 571,886
362,642 331,361 296,288 – – – –
12,135,790 11,601,749 12,111,075 12,751,347 12,982,581 13,252,177 13,810,779
$ 34,053,171 $ 34,276,575 $ 35,434,971 $ 35,584,014 $ 35,105,062 $ 39,482,646 $ 38,871,175
$ 16,000 $ 15,000 $ 15,000 $ 97,234 $ 28,408 $ 15,000 $ 15,000
1,332,453 666,914 647,298 868,363 1,146,518 927,690 1,387,329
250,814 271,216 235,225 305,882 335,308 308,339 377,021
563,738 6,595,487 468,426 1,213,167 520,433 501,260 510,991
1,171,919 1,002,008 1,213,178 970,143 1,015,804 1,271,095 1,268,447
79,699 51,631 94,059 70,709 81,056 70,513 71,022
358,688 215,619 345,780 296,350 338,845 316,338 347,565
1,856,567 713,189 543,516 822,056 490,069 468,361 486,869
3,973,954 360,023 423,873 405,347 381,308 1,158,050 5,943,465
9,603,832 9,891,087 3,986,355 5,049,251 4,337,749 5,036,646 10,407,709
TABLE 2
Fiscal Year
95
2005 2006 2007
PROGRAM REVENUES
Business-type activities:
Charges for services:
Water and wastewater $ 9,856,889 $ 12,357,576 $ 9,127,470
Drainage 675,045 830,292 841,972
Capital grants and contributions 844,256 1,100,354 1,561,255
Total business-type activities program revenues 11,376,190 14,288,222 11,530,697
Total primary government program revenues $ 18,152,026 $ 23,258,526 $ 20,891,960
NET (EXPENSE) REVENUES
Governmental activities $( 11,181,257) $( 10,884,474) $( 10,769,217)
Business-type activities 1,863,555 3,870,183 1,120,890
Total primary government net expense ( 9,317,702) ( 7,014,291) ( 9,648,327)
GENERAL REVENUES AND OTHER CHANGES IN NET POSITION
Governmental activities:
Taxes
Property 8,938,888 9,483,546 10,153,775
Franchise 1,477,749 1,790,543 1,779,376
Sales 3,801,369 4,355,627 4,674,068
Other 53,974 76,005 89,132
Investment earnings 443,570 904,361 1,224,361
Miscellaneous 153,947 65,313 97,963
Gain on sale of capital assets – – –
Transfers 464,393 532,357 664,085
Total governmental activities 15,333,890 17,207,752 18,682,760
Business-type activities:
Investment earnings 377,064 846,214 998,710
Gain on sale of capital assets – – –
Transfers ( 464,393) ( 532,357) ( 664,085)
Total business-type activities ( 87,329) 313,857 334,625
Total primary government 15,246,561 17,521,609 19,017,385
CHANGE IN NET POSITION
Governmental activities 4,152,633 6,323,278 7,913,543
Business-type activities 1,776,226 4,184,040 1,455,515
Total primary government $ 5,928,859 $ 10,507,318 $ 9,369,058
Note: See Table 9 for information about Water and Wastewater Charges for services
CITY OF COLLEYVILLE, TEXAS
CHANGES IN NET POSITION
Fiscal Year
(Accrual Basis of Accounting)
96
(continued)
2008 2009 2010 2011 2012 2013 2014
$ 11,114,892 $ 11,303,868 $ 11,414,425 $ 14,355,418 $ 14,034,600 $ 14,661,491 $ 14,789,614
859,013 874,637 897,361 903,089 918,323 928,863 939,868
1,415,785 63,293 147,014 168,365 169,464 876,660 2,707,835
13,389,690 12,241,798 12,458,800 15,426,872 15,122,387 16,467,014 18,437,317
$ 22,993,522 $ 22,132,885 $ 16,445,155 $ 20,476,123 $ 19,460,136 $ 21,503,660 $ 28,845,026
$( 12,313,549) $( 12,783,739) $( 19,337,541) $( 17,783,416) $( 17,784,732) $( 21,193,823) $( 14,652,687)
1,253,900 640,049 347,725 2,675,525 2,139,806 3,214,837 4,626,538
( 11,059,649) ( 12,143,690) ( 18,989,816) ( 15,107,891) ( 15,644,926) ( 17,978,986) ( 10,026,149)
11,367,967 12,121,420 12,557,716 12,414,948 12,414,457 12,497,692 12,950,832
1,818,060 2,017,440 1,867,065 2,031,268 2,207,463 2,074,731 2,172,801
4,740,964 4,718,976 4,936,484 5,056,597 5,495,730 5,902,557 6,472,195
82,532 74,198 75,365 80,731 65,808 68,592 98,160
804,864 471,524 76,968 95,822 108,192 77,269 39,697
96,348 77,854 82,833 55,454 74,041 85,562 61,643
116,112 25,237 65,306 – 147,969 – 810,020
841,936 823,797 857,622 858,879 1,081,868 1,112,540 1,180,292
19,868,783 20,330,446 20,519,359 20,593,699 21,595,528 21,818,943 23,785,640
380,595 168,940 15,158 38,674 4,084 38,987 23,655
– – 15,864 – – 103,437 40,814
( 841,936) ( 823,797) ( 857,622) ( 858,879) ( 1,081,868) ( 1,112,540) ( 1,180,292)
( 461,341) ( 654,857) ( 826,600) ( 820,205) ( 1,077,784) ( 970,116) ( 1,115,823)
19,407,442 19,675,589 19,692,759 19,773,494 20,517,744 20,848,827 22,669,817
7,555,234 7,546,707 1,181,818 2,810,283 3,810,796 625,120 9,132,953
792,559 ( 14,808) ( 478,875) 1,855,320 1,062,022 2,244,721 3,510,715
$ 8,347,793 $ 7,531,899 $ 702,943 $ 4,665,603 $ 4,872,818 $ 2,869,841 $ 12,643,668
Fiscal Year
TABLE 2
97
98
THIS PAGE INTENTIONALLY LEFT BLANK
TABLE 3
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
General fund
Non-spendable $ – $ – $ – $ – $ – $ – $ 2,147 $ 132,664 $ 1,759 $ 1,269
Restricted – – – – – – – – – –
Committed – – – – – – 706,942 813,536 813,536 813,536
Assigned – – – – – – – – – –
Unassigned 6,850,731 7,575,662 8 ,495,329 8,717,398 8,207,420 8 ,813,597 10,223,232 11,762,625 11,006,716 10,080,617
Total general fund $ 6,850,731 $ 7,575,662 $ 8 ,495,329 $ 8,717,398 $ 8,207,420 $ 8 ,813,597 $ 10,932,321 $ 12,708,825 $ 11,822,011 $ 10,895,422
All other governmental funds
Non-spendable $ – $ – $ – $ – $ – $ – $ – $ – $ – $ –
Restricted 2,959,583 1,082,681 1 ,254,686 987,681 1,121,567 1 ,154,570 10,853,638 12,894,768 13,190,883 17,571,843
Committed – – – – – – 5,967,620 6,193,060 6,262,082 6,793,236
Assigned – – – – – – 1,148,548 954,818 910,611 765,908
Unassigned – – – – – – ( 4,975) –
Unassigned, reported in:
Special revenue funds 3,251,861 4,760,679 4 ,814,412 5,696,905 7,267,350 5 ,664,493 – – – –
Capital projects funds 7,438,437 7,012,225 9 ,055,431 7,811,492 12,369,631 1 1,524,206 – – – –
Total all other
governmental funds $ 13,649,881 $ 12,855,585 $ 1 5,124,529 $ 14,496,078 $ 20,758,548 $ 1 8,343,269 $ 17,969,806 $ 20,042,646 $ 20,358,601 $ 25,130,987
Note: This schedule does not restate prior years for Special Revenue and Capital Projects Funds.
The City implemented GASB 54 in fiscal year 2011 to provide clearer fund balance classifications. Prior years were not restated.
(Modified Accrual Basis of Accounting)
Fiscal Year
CITY OF COLLEYVILLE, TEXAS
FUND BALANCES
GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
99
TABLE 4
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
REVENUES
Taxes $ 14,277,010 $ 1 5,708,945 $ 1 6,701,290 $ 17,975,445 $ 1 8,889,480 $ 1 9,353,358 $ 1 9,627,734 $ 2 0,235,012 $ 2 0,541,466 $ 2 1,747,244
Developer contributions 274,996 5 49,911 6 83,425 226,488 – – – – – –
Licenses, fees and permits 1,359,329 1 ,931,265 1 ,244,218 1,113,595 6 46,302 6 07,132 9 23,590 1 ,130,426 8 57,135 1 ,090,012
Capital improvement fees 366,111 4 82,860 3 89,657 358,688 2 08,622 3 34,075 2 81,260 3 22,498 3 00,900 3 33,496
Drainage fees – – – – – – – – – –
Fines and penalties 513,129 8 41,595 9 65,416 1,203,260 1 ,028,425 1 ,244,146 9 98,221 1 ,051,899 1 ,000,954 1 ,043,821
Charges for services 940,212 1 ,173,394 1 ,190,327 1,322,732 7 ,129,322 9 17,884 1 ,694,993 1 ,030,439 1 ,321,927 1 ,577,564
Interest 443,570 9 04,361 1 ,224,361 804,864 4 71,524 7 6,968 9 5,823 1 10,550 7 7,269 3 9,697
Intergovernmental 167,293 5 ,409 4 ,361 1,437,935 3 50,468 1 00,807 5 41,709 1 24,056 7 6,506 5 56,954
Donations 502,789 3 96,627 7 35,756 548,093 4 01,432 3 79,853 6 02,401 4 06,789 4 87,066 9 18,613
Miscellaneous 183,902 8 3,730 1 07,700 116,280 1 55,100 9 7,833 7 0,453 8 9,041 1 00,562 7 6,643
Total revenues 19,028,341 2 2,078,097 2 3,246,511 25,107,380 2 9,280,675 2 3,112,056 2 4,836,184 2 4,500,710 2 4,763,785 2 7,384,044
EXPENDITURES
General government 1,873,091 2 ,107,398 2 ,247,359 2,537,699 2 ,639,218 2 ,423,869 2 ,383,276 2 ,753,457 3 ,171,582 3 ,746,619
Comm Development/Eng 1,160,232 1 ,265,251 1 ,467,216 1,462,566 1 ,531,785 1 ,642,047 1 ,397,256 1 ,396,259 1 ,429,574 1 ,606,589
Fire 3,166,840 3 ,657,554 3 ,517,817 3,755,575 3 ,840,118 3 ,955,407 3 ,972,053 3 ,888,225 4 ,062,535 4 ,174,745
Police 3,293,320 3 ,558,154 3 ,961,975 4,395,056 4 ,588,576 4 ,552,947 4 ,596,862 4 ,304,710 4 ,670,639 4 ,707,315
Leisure services 2,388,761 2 ,838,637 2 ,913,798 3,171,514 3 ,058,332 3 ,173,352 3 ,177,878 3 ,049,908 3 ,035,583 2 ,702,313
Streets and drainage 1,656,187 1 ,604,425 1 ,485,756 1,649,037 1 ,917,536 2 ,297,719 2 ,052,298 1 ,388,970 3 ,597,965 2 ,055,631
Municipal court 238,245 2 70,037 2 52,961 323,059 2 91,893 3 02,172 3 02,666 3 19,084 5 86,911 5 01,027
Maintenance 357,983 3 77,144 4 15,708 410,636 4 49,806 4 17,946 4 05,911 3 94,830 4 89,685 5 70,011
Capital outlay 1,459,940 4 ,491,341 6 ,337,656 5,150,286 2 ,759,774 4 ,935,053 2 ,510,027 2 ,515,115 2 ,668,074 3 ,250,508
Debt service:
Interest 1,289,866 1 ,141,817 1 ,094,001 2,584,790 1 ,033,148 9 44,751 8 38,320 7 57,594 6 97,140 7 16,228
Principal 1,573,308 1 ,929,047 2 ,005,204 1,189,798 2 ,275,553 2 ,180,061 2 ,259,004 2 ,007,585 2 ,246,921 1 ,342,586
Total expenditures 18,457,773 2 3,240,805 2 5,699,451 26,630,016 2 4,385,739 2 6,825,324 2 3,895,551 2 2,775,737 2 6,656,609 2 5,373,572
CITY OF COLLEYVILLE, TEXAS
CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(Modified Accrual Basis of Accounting)
100
TABLE 4
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
EXCESS OF REVENUES
OVER (UNDER)
EXPENDITURES $ 570,568 $( 1 ,162,708) $( 2 ,452,940) $( 1,522,636) $ 4 ,894,936 $( 3 ,713,268) $ 9 40,633 $ 1 ,724,973 $( 1 ,892,824) $ 2 ,010,472
OTHER FINANCING
SOURCES (USES)
Bonds issued 9,570,000 – 9 ,890,000 – – – 2 ,945,000 – –
Refunding bonds – – – – – – – – – 7 ,330,000
Notes payable 94,187 – – – – – – – –
Capital lease – 4 08,716 – 176,150 – 9 81,238 – 8 94,534 2 09,425
Sale of capital assets – 1 52,270 8 ,800 98,168 3 3,759 6 5,306 7 ,098 1 47,969 – 9 25,033
Premium on bond issue 6 ,561 – –
Payments to escrow ( 7,450,606) – ( 4 ,921,334) – – – ( 3 ,012,910) – – ( 7 ,600,000)
Transfers in 1,675,954 2 ,203,261 1 ,637,154 2,082,101 2 ,338,776 1 ,884,896 2 ,458,396 3 ,893,584 4 ,189,380 7 ,355,334
Transfers out ( 1,211,561) ( 1 ,670,904) ( 9 73,069) ( 1,240,165) ( 1 ,514,979) ( 1 ,027,274) ( 1 ,599,517) ( 2 ,811,716) ( 3 ,076,840) ( 6 ,175,042)
Total other financing
sources (uses) 2,677,974 1 ,093,343 5 ,641,551 1,116,254 8 57,556 1 ,904,166 8 04,628 2 ,124,371 1 ,321,965 1 ,835,325
NET CHANGE IN
FUND BALANCES $ 3,248,542 $( 6 9,365) $ 3 ,188,611 $( 406,382) $ 5 ,752,492 $( 1 ,809,102) $ 1 ,745,261 $ 3 ,849,344 $( 5 70,859) $ 3 ,845,797
DEBT SERVICE AS
A PERCENTAGE
OF NONCAPITAL
EXPENDITURES 16.8% 16.4% 16.0% 17.6% 15.3% 14.3% 14.5% 13.6% 12.3% 9.3%
Note: Capital Outlay does not include contributed capital assets received from developers.
LAST TEN FISCAL YEARS
(Modified Accrual Basis of Accounting)
CITY OF COLLEYVILLE, TEXAS
CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
101
TABLE 5
Estimated
Less: Total Taxable Total Actual
Fiscal Residential Personal Tax-exempt Assessed Direct Taxable
Year Property Property Property Value Tax Rate Value
2005 2,793,606,203 78,255,043 219,264,381 2,652,596,865 0.3474 2,652,596,865
2006 3,015,929,674 79,122,702 221,809,521 2,873,242,855 0.3474 2,873,242,855
2007 3,229,353,459 86,080,918 228,115,791 3,087,318,586 0.3474 3,087,318,586
2008 3,531,988,996 97,998,283 228,915,486 3,401,071,793 0.3559 3,401,071,793
2009 3,748,968,313 99,556,111 230,676,995 3,617,847,429 0.3559 3,617,847,429
2010 3,907,288,105 95,261,420 237,293,931 3,765,255,594 0.3559 3,765,255,594
2011 3,917,415,346 92,176,541 253,414,335 3,756,177,552 0.3559 3,756,177,552
2012 3,941,020,477 89,758,416 277,077,387 3,753,701,506 0.3559 3,753,701,506
2013 3,997,250,723 91,264,033 296,807,896 3,791,706,860 0.3559 3,791,706,860
2014 4,129,613,419 93,604,217 307,729,550 3,915,488,086 0.3559 3,915,488,086
Source: Tarrant Appraisal District
Note:
CITY OF COLLEYVILLE, TEXAS
ASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
Property in Tarrant County is reassessed once every two years. The Appraisal District assesses property at 100 percent of actual value for residential and
personal. Tax rates are per $100 of assessed value.
102
TABLE 6
General Grapevine- Hurst-Euless
Operations and Obligation Total Birdville Carroll Colleyville Bedford Keller Tarrant County Tarrant County
Fiscal Maintenance Debt Direct Independent Independent Independent Independent Independent Tarrant College Hospital
Year Rate Service Rate School District School District School District School District School District County District District
2005 0.29072 0 .05668 0.34740 1.6170 1.9350 1.70000 1.7105 1.6975 0 .27250 0.139380 0.235397
2006 0.27771 0 .06969 0.34740 1.6170 1.9350 1.70000 1.7230 1.7158 0 .27250 0.139380 0.235397
2007 0.27873 0 .06867 0.34740 1.5650 1.7950 1.57430 1.5976 1.6080 0 .27150 0.139380 0.235397
2008 0.28299 0 .07291 0.35590 1.4050 1.4650 1.29000 1.3037 1.3574 0 .26650 0.139380 0.230397
2009 0.28860 0 .06731 0.35590 1.4100 1.4150 1.29000 1.2955 1.4169 0 .26400 0.137960 0.227897
2010 0.29864 0 .05726 0.35590 1.4050 1.4150 1.29000 1.2955 1.4863 0 .26400 0.137670 0.227897
2011 0.29758 0 .05832 0.35590 1.4250 1.4150 1.29000 1.2882 1.5306 0 .26400 0.137600 0.227900
2012 0.30881 0 .04709 0.35590 1.4350 1.4150 1.32010 1.4140 1.5400 0 .26400 0.148970 0.227897
2013 0.31385 0 .04205 0.35590 1.4350 1.4000 1.32010 1.4075 1.5400 0 .26400 0.148970 0.227897
2014 0.32442 0 .03148 0.35590 1.4350 1.4000 1.32010 1.3875 1.5400 0 .26400 0.149500 0.227897
Source: Tarrant Appraisal District
Notes: Overlapping rates are those of local and county governments that apply to property owners within the City of Colleyville, Texas. Not all school district overlapping rates apply to all
Colleyville property owners because the City is served by five different independent school districts; for example, although the county property tax rates apply to all City property
owners, the Grapevine-Colleyville Independent School District rates apply only to the approximately two-thirds of City property owners whose property is located within that school
district’s geographic boundaries.
CITY OF COLLEYVILLE, TEXAS
DIRECT AND OVERLAPPING PROPERTY TAX RATES
LAST TEN FISCAL YEARS
City Direct Rates Overlapping Rates
103
TABLE 7
Percentage Percentage
of Total City of Total City
Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed
Taxpayer Value Value Value Value
Melvin & Martindale $ 2 4,300,000 0.64% $ 4,594,495 0 .17%
Toll Dallas TX LLC 1 6,368,368 0.43% – – %
Oncor Electric Delivery 1 6,288,033 0.43% 16,670,636 0 .63%
Lifetime Fitness Real Estate 1 2,304,570 0.32% – – %
AC Village Park Partners LLC 1 0,430,264 0.28% – – %
RCC Village Properties 8 ,831,175 0.23% – – %
Wal-Mart Real Estate Business Trust 8 ,769,804 0.23% – – %
Colleyville Riverwalk LP 6 ,054,975 0.16% – – %
Leonard Hudson 4 ,830,200 0.13% – – %
Donald and Gina Wilson 4 ,337,800 0.11% – – %
Albertsons – – % 9,450,228 0 .36%
Village Management, LTD. – – % 4,794,100 0 .18%
Uhlmann-Colleyville, LLC – – % 6,093,083 0 .23%
Colleyville Plaza LP – – % 6,500,480 0 .25%
Industrial Bank Japan Trust, Co. – – % 5,145,107 0 .19%
Market Street – – % 6,033,600 0 .23%
Broughton LTD Partnership – – % 7,391,268 0 .28%
Broadland Limited Partnership – – % 5,510,559 0 .21%
Total $ 1 12,515,189 2.97% $ 72,183,556 2 .73%
Source: Tarrant Appraisal District
2014 2005
CITY OF COLLEYVILLE, TEXAS
PRINCIPAL PROPERTY TAXPAYERS
CURRENT YEAR AND NINE YEARS AGO
104
TABLE 8
Taxes Levied Collections
Fiscal for the Percentage in Subsequent Percentage
Year Ended Fiscal Year Amount of Levy Years Amount of Levy
2005 9,201,770 9,109,752 99.1% 8 5,530 9,195,283 99.93%
2006 9,981,646 9,906,769 99.2% 6 8,541 9,975,310 99.94%
2007 10,725,345 10,592,222 98.8% 1 24,651 10,716,873 99.92%
2008 12,024,882 11,903,333 99.0% 1 09,102 12,012,435 99.90%
2009 12,875,919 12,734,871 98.9% 1 25,669 12,860,540 99.88%
2010 13,351,922 13,166,515 98.6% 1 64,082 13,330,597 99.84%
2011 13,183,932 13,063,575 99.1% 9 5,672 13,159,247 99.81%
2012 13,163,735 13,082,029 99.4% 4 3,962 13,125,991 99.71%
2013 13,291,462 13,207,902 99.4% 6 2,362 13,270,264 99.84%
2014 13,722,602 13,681,269 99.7% – 13,681,269 99.70%
Sources: Tarrant County Appraisal District and City of Colleyville Finance Department.
Fiscal Year of the Levy
Collected With the
Total Collections to Date
CITY OF COLLEYVILLE, TEXAS
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
105
TABLE 9
Percentage Percentage
of Total City of Total City
Water Water Water Water
Taxpayer Usage Usage Usage Usage
Grapevine-Colleyville ISD 31,982,000 1.40% 42,168,500 1 .94%
Lifetime Fitness 11,434,600 0.50% 14,291,700 0 .66%
Town Center 6,854,800 0.30% 6,526,000 0 .30%
Market Street 5,704,500 0.25% 5,705,600 0 .26%
Bluebonnet Hills 4,913,700 0.22% 5,923,300 0 .27%
Toll Dallas 4,591,600 0.20% – – %
Wash Depot 4,482,100 0.20% 4,573,400 0 .21%
Shadowood Trail 4,265,400 0.19% 5,595,500 0 .26%
Westmont 3,789,600 0.17% 2,956,700 0 .14%
Woodland Hills 3,554,600 0.16% 3,940,900 0 .18%
Whittier Heights 3,447,800 0.15% – – %
Broughton Maint Assoc 3,443,500 0.15% – – %
Villas at Oak Point 3,279,900 0.14% – – %
Monterra 2,811,800 0.12% – – %
La Hacienda Ranch 2,774,200 0.12% 3,464,300 0 .16%
Clairemont 2,616,100 0.11% – – %
Timarron 2,193,100 0.10% – – %
Highland Meadows Church 2,165,800 0.09% 4,425,300 0 .20%
Rio Mambo 1,794,500 0.08% – – %
Albertsons (Glade Rd) 1,692,500 0.07% 7,832,600 0 .36%
Total 107,792,100 4.72% 107,403,800 4 .94%
Source: City utility billing records
2014 2005
CITY OF COLLEYVILLE, TEXAS
PRINCIPAL WATER CUSTOMERS
CURRENT YEAR AND NINE YEARS AGO
106
TABLE 10
General Sales Tax Water and Sewer Drainage Total Percentage
Fiscal Obligation Revenue Capital Revenue Revenue Capital Primary of Personal Per
Year Bonds Bonds Leases Bonds Bonds Leases Government Income Capita
2005 11,995,000 14,980,000 69,187 8,160,000 2,515,000 41,077 37,760,264 3.28% 1,798
2006 10,665,000 14,760,000 404,395 7,365,000 2,365,000 26,933 35,586,328 2.96% 1,640
2007 17,770,000 10,372,462 349,189 6,540,000 2,205,000 13,140 37,249,791 2.89% 1,682
2008 16,275,000 9,795,916 430,549 5,840,000 2,040,000 – 34,381,465 2.65% 1,528
2009 14,665,000 9,199,370 359,996 5,200,000 1,870,000 – 31,294,366 2.52% 1,388
2010 13,300,000 8,572,824 1,151,173 4,520,000 1,695,000 – 29,238,997 2.32% 1,282
2011 11,463,786 8,271,278 972,170 3,600,000 1,550,000 – 25,857,234 1.73% 1,131
2012 9,933,921 7,954,732 1,709,120 2,850,000 1,345,000 – 23,792,773 1.57% 1,037
2013 8,639,056 7,623,186 1,301,624 2,085,000 1,135,000 – 20,783,866 1.37% 900
2014 7,660,000 7,330,000 974,038 1,379,830 915,000 – 18,258,868 1.16% 769
Notes: Details regarding the City’s outstanding debt can be found in the notes to the financial statements.
See Table 14 for personal income and population data.
CITY OF COLLEYVILLE, TEXAS
RATIOS OF OUTSTANDING DEBT BY TYPE
LAST TEN FISCAL YEARS
Governmental Activities Business-type Activities
107
TABLE 11
Percentage of
General Less Amounts Actual Taxable
Fiscal Obligation Restricted to Value of Per
Year Bonds Repaying Principal Total Property Capita
2005 11,955,000 989,618 10,965,382 0.41% 522
2006 10,665,000 1,082,681 9,582,319 0.33% 442
2007 17,770,000 1,254,686 16,515,314 0.53% 746
2008 16,275,000 987,681 15,287,319 0.45% 679
2009 14,665,000 1,121,567 13,543,433 0.37% 601
2010 13,300,000 1,154,570 12,145,430 0.32% 533
2011 11,463,786 1,188,907 10,274,879 0.27% 449
2012 9,933,921 1,239,412 8,694,509 0.23% 379
2013 8,639,056 931,623 7,707,433 0.20% 334
2014 7,660,000 902,490 6,757,510 0.17% 285
Notes:
Details regarding the City’s outstanding debt can be found in the notes to the financial statements.
See Table 5 for property value data.
Population data can be found in Table 14.
General Bonded Debt Outstanding
CITY OF COLLEYVILLE, TEXAS
RATIOS OF GENERAL BONDED DEBT OUTSTANDING
LAST TEN FISCAL YEARS
108
TABLE 12
Estimated
Share of
Estimated Direct and
Debt Percentage Overlapping
Outstanding Applicable Debt
Debt repaid with property taxes
Birdville Independent School District $ 1 88,860,198 0.080% $ 1 51,088
Carroll Independent School District 2 26,024,791 0.460% 1 ,039,714
Grapevine-Colleyville Independent School District 3 38,573,481 21.490% 7 2,759,441
Hurst-Euless-Bedford Independent School District 2 90,687,648 1.650% 4 ,796,346
Keller Independent School District 6 54,308,399 3.210% 2 1,003,300
Tarrant County 3 17,820,000 3.070% 9 ,757,074
Tarrant County College District 7 ,935,000 3.050% 2 42,018
Tarrant County Hospital District 2 4,425,000 3.060% 7 47,405
Subtotal overlapping debt 1 10,496,386
City direct debt 1 1,330,000 100.000% 1 5,964,038
Total direct and overlapping debt $ 1 26,460,242
Sources:
Government Unit
Assessed value data used to estimate applicable percentages provided by the Tarrant County Appraisal District
and debt outstanding data provided by each governmental unit.
CITY OF COLLEYVILLE, TEXAS
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
AS OF SEPTEMBER 30, 2014
109
TABLE 13
Assessed value $ 3,915,488,086
Debt limit (2.5% of assessed value) 97,887,202
Debt applicable to limit:
General obligation bonds 7,660,000
Less: Amount set aside for
repayment of general
obligation debt ( 902,490)
Total net debt applicable to limit 6,757,510
Legal debt margin $ 91,129,692
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Debt limit $ 66,314,922 $ 71,831,071 $ 77,182,965 $ 85,026,795 $ 87,755,997 $ 94,131,390 $ 93,904,439 $ 93,842,538 $ 94,792,672 $ 97,887,202
Total net debt applicable to limit 10,999,111 9,582,319 15,745,132 15,287,139 13,543,433 12,145,430 10,321,093 8,735,588 7,743,377 6,757,510
Legal debt margin $ 55,315,811 $ 62,248,752 $ 61,437,833 $ 69,739,656 $ 74,212,564 $ 81,985,960 $ 83,583,346 $ 85,106,950 $ 87,049,295 $ 91,129,692
Total net debt applicable to the limit
as a percentage of debt limit. 16.59% 13.34% 20.40% 17.98% 15.43% 12.90% 10.99% 9.31% 8.17% 6 .90%
Note:
Under state finance law, the City’s outstanding general obligation debt should not exceed 2.50 percent of total assessed property value.
Fiscal Year
CITY OF COLLEYVILLE, TEXAS
LEGAL DEBT MARGIN INFORMATION
LAST TEN FISCAL YEARS
Legal Debt Margin Calculation for Fiscal Year 2014
110
111
THIS PAGE INTENTIONALLY LEFT BLANK
Utility Less: Net
Fiscal Service Operating Available
Year Charges Expenses Revenue Principal Interest Coverage
2005 10,198,733 7,251,998 2,946,735 765,000 361,976 1,819,759
2006 13,136,476 8,067,565 5,068,911 795,000 329,451 3,944,460
2007 10,046,030 8,040,621 2,005,409 825,000 296,546 883,863
2008 11,452,268 9,670,881 1,781,387 700,000 265,658 815,729
2009 11,458,282 8,943,803 2,514,479 640,000 241,223 1,633,256
2010 11,427,074 9,458,355 1,968,719 680,000 213,358 1,075,361
2011 14,391,910 10,120,678 4,271,232 920,000 57,819 3,293,413
2012 14,036,325 10,395,517 3,640,808 750,000 77,947 2,812,861
2013 14,698,914 10,707,017 3,991,897 765,000 58,430 3,168,467
2014 14,811,721 11,331,749 3,479,972 775,000 44,137 2,660,835
Notes:
Details regarding the City’s outstanding debt can be found in the notes to the financial statements. Operating Debt Service
Water Revenue Bonds
PLEDGED REVENUE COVERAGE
LAST TEN FISCAL YEARS
CITY OF COLLEYVILLE, TEXAS
112
TABLE 14
Drainage Drainage Net
Service Operations Available Sales Tax
Charges Expenses Revenue Principal Interest Coverage Increment Principal Interest Coverage
7 10,265 338,310 3 71,955 175,000 116,432 80,523 982,844 210,000 387,085 385,759
8 97,606 444,700 4 52,906 150,000 111,252 191,654 1,132,094 240,000 402,929 489,165
9 22,123 462,387 4 59,736 160,000 104,206 195,530 1,208,379 255,000 391,366 562,013
9 02,232 510,259 3 91,973 165,000 96,984 129,989 1,300,260 270,000 380,013 650,247
8 89,163 500,677 3 88,486 170,000 90,138 128,348 1,264,385 275,000 368,195 621,190
8 99,870 484,712 4 15,158 175,000 82,930 157,228 1,317,161 290,000 356,290 670,871
9 05,271 551,049 3 54,222 152,163 58,979 143,080 1,319,517 300,000 344,195 675,322
9 20,682 531,705 3 88,977 205,000 51,244 132,733 1,426,909 315,000 331,588 780,321
9 30,427 541,598 3 88,829 210,000 41,733 137,096 1,534,635 330,000 318,365 886,270
9 41,416 416,957 5 24,459 220,000 35,398 269,061 1,673,351 – 138,390 1,534,961
Operating expenses do not include interest, depreciation, or amortization expenses.
Debt Service Debt Service
Drainage Revenue Bonds Sales Tax Bonds
113
TABLE 15
Tarrant
Per Capita County
Calendar Personal Personal Unemployment
Year Population Income Income Rate
2005 21,000 165,008 54,820 5.1%
2006 21,700 167,009 55,485 4.5%
2007 22,150 175,008 58,142 4.3%
2008 22,500 173,853 57,758 5.1%
2009 22,550 166,063 55,170 8.2%
2010 22,807 166,063 55,354 7.9%
2011 22,860 199,168 65,516 8.3%
2012 22,950 199,168 65,516 6.2%
2013 23,090 199,168 65,516 6.0%
2014 23,740 200,822 66,060 5.0%
Sources:
CITY OF COLLEYVILLE, TEXAS
DEMOGRAPHIC AND ECONOMIC STATISTICS
LAST TEN FISCAL YEARS
Population – North Central Texas Council of Governments, personal income – City of Colleyville
Economic Development Department, Unemployment Rate – Texas Workforce Commission
(unemployment rate is not available solely for the City of Colleyville)
114
TABLE 16
Percentage Percentage
of Total City of Total City
Employer Employees Employment Employees Employment*
Grapevine Colleyville ISD 611 11.8% 720 – %
Market Street 325 6.3% 400 – %
Lifetime Fitness 230 4.5% – – %
City of Colleyville 190 3.7% 162 – %
Kroger – – % 150 – %
Whole Foods Market 125 2.4% – – %
Albertsons 110 2.1% 200 – %
Covenant Christian Academy 130 2.5% 80 – %
LaHacienda Ranch 100 1.9% 100 – %
Walmart Neighborhood Market 72 1.4% – – %
Sonshine Academy 60 1.2% 40 – %
US Memory Care 60 1.2% – – %
Mac’s Steak and Seafood – – % 60 – %
Compass Christian Church 50 1.0% – – %
Total 2,063 39.9% 1,912 – %
Source: City Economic Development Division
*This information is unavailable.
CITY OF COLLEYVILLE, TEXAS
PRINCIPAL EMPLOYERS
CURRENT YEAR AND NINE YEARS AGO
2014 2005
115
Function/Program 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
General government
Management services 6 6 5 5 4 4 4 4 4 4
Finance/court 7 7 6 6 6 6 6 6 8 8
Planning 3 3 3 3 3 2 2 2 2 4
Building 5 5 5 6 6 5 4 3 3 3.5
Other 5 5 6 6.5 7.5 9.5 11 11 13 12
Police
Officers 31 32 35 37 38 38 38 39 40 41
Civilians 10 11 13 14 14 13 6 6 6 6.5
Fire
Firefighters and officers 33 33 33 33 33 33 33 35 36 38
Civilians 1 1 1 1 1 2 1 1 1 1
Other public works
Engineering 5 5 5 5 5 4 4.5 3 3 4
Other 3 3 3 3 3 3 3 3 3 3
Streets 10 10 10 10 10 10 10 10 7 8
Parks and recreation 12.5 12.5 13.5 13.5 13.5 16.5 16 16 16 16
Library 5.5 5.5 7.5 8 8 9.5 11.5 11.5 12 13
Colleyville center 4.5 4.5 4.5 4.5 4.5 4.5 4.5 4.5 3.5 4
Water/wastewater 25.5 28 29 29 29 28 24 25 23 25
Drainage 6 6 6 6 6 6 6 6 7 6
Total 173.0 177.5 185.5 190.5 191.5 194.0 184.5 185.5 187.5 196.5
Source: City Human Resources Office
Notes: A fulltime employee is scheduled to work 2080 hours per year (including vacation and sick leave). Fulltime equivalent employment is
calculated by dividing total labor hours by 2080.
TABLE 17
Fulltime Equivalent Employees as of September 30,
CITY OF COLLEYVILLE TEXAS
FULLTIME EQUIVALENT CITY GOVERNMENT EMPLOYEES
BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS
116
TABLE 18
Function/Program 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
General government
Building permits issued 2 45 2 70 1 40 1 31 9 0 7 7 1 04 1 55 1 03 1 08
Building inspections conducted 8 ,734 9 ,599 8 ,941 8 ,108 5 ,641 6 ,149 6 ,737 8 ,310 8 ,292 7 ,807
Police
Physical arrests 4 04 4 85 6 66 5 14 8 09 7 64 6 66 6 53 6 32 8 63
Calls for service 1 0,668 1 0,546 1 7,629 1 5,292 2 3,480 1 2,242 2 7,254 4 8,076 6 1,270 5 8,522
Traffic violations 7 ,311 1 1,218 1 2,438 1 5,621 1 2,550 1 3,822 1 1,354 1 1,980 1 1,766 1 9,955
Fire
Emergency responses 5 10 6 56 7 15 6 81 7 37 7 62 8 30 7 24 5 57 6 27
Ambulance calls 6 09 5 89 6 30 6 67 6 93 7 51 7 65 8 03 8 29 9 50
Inspections 5 60 3 12 5 03 6 66 7 96 7 84 3 97 3 42 3 06 3 17
Other public works
Street resurfacing (miles) 3 3 4 .5 8 .5 1 3.9 8 .0 6 .2 1 .0 4 .0 1 .7
Parks and recreation
Athletic field participants 6 90 6 02 4 ,960 5 ,159 4 ,617 4 ,296 4 ,378 3 ,946 4 ,287 4 ,315
Community center rentals 5 80 6 37 5 92 6 27 5 07 3 73 4 10 4 04 3 98 4 12
Library
Volumes in collection 3 4,656 4 3,378 4 6,311 5 0,348 5 4,659 5 8,147 6 2,997 6 5,740 6 9,736 7 4,525
Total volumes borrowed 1 39,130 1 77,087 1 97,712 2 11,674 2 38,459 2 44,458 2 35,238 2 44,613 2 50,737 2 34,667
Water
Customers 8 ,271 8 ,561 8 ,700 8 ,893 8 ,960 9 ,014 9 ,103 9 ,285 9 ,396 9 ,507
Average daily consumption
(thousands of gallons) 5 ,951 8 ,081 5 ,123 6 ,619 6 ,578 5 ,990 7 ,928 7 ,217 6 ,785 6 ,539
Peak daily consumption
(thousands of gallons) 1 6,126 1 6,732 1 3,068 1 6,764 1 6,674 1 8,207 1 8,935 1 8,707 1 7,052 1 5,204
Wastewater
Customers 7 ,563 7 ,761 7 ,966 8 ,138 8 ,315 8 ,389 8 ,457 8 ,603 8 ,731 8 ,817
Source: Various City departments
CITY OF COLLEYVILLE, TEXAS
OPERATING INDICATORS BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS
117
Function/Program 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Police
Stations 1 1 1 1 1 1 1 1 1 1
Patrol units 7 7 1 0 1 3 1 3 1 3 1 3 1 2 1 2 1 2
Fire
Stations 2 2 2 3 3 3 3 3 3 3
Public works
Streets (miles) 3 00 3 07 3 11 3 12 3 12 3 18 2 82 2 82 2 82 2 83
Streetlights 8 60 9 90 1 ,011 1 ,010 1 ,168 1 ,188 1 ,169 1 ,169 1 ,175 1 ,175
Traffic signals 2 2 2 2 2 2 2 2 2 2
Parks and recreation
Acreage 2 12 2 12 2 24 2 24 2 24 2 24 2 24 2 24 2 24 2 24
Playgrounds 5 5 6 6 6 6 6 6 6 6
Baseball/softball diamonds 9 9 9 9 9 9 9 9 9 9
Soccer fields 1 4 1 4 1 4 1 4 1 4 1 4 1 4 1 4 1 4 1 4
Community centers 1 1 1 1 1 1 1 1 1 1
Water
Water mains (miles) 1 73 1 75 1 91 1 92 1 99 2 00 1 95 2 01 2 02 2 04
Fire hydrants 1 ,149 1 ,206 1 ,254 1 ,271 1 ,340 1 ,345 1 ,362 1 ,389 1 ,389 1 ,403
Storage capacity 4 ,900 4 ,900 4 ,900 4 ,900 9 ,900 9 ,900 9 ,400 9 ,400 9 ,400 9 ,400
(thousands of gallons)
Wastewater
Sanitary sewers (miles) 1 50 1 54 1 63 1 64 1 66 1 70 1 62 1 69 1 70 1 72
Storm sewers (miles) 5 7 5 8 5 9 5 9 6 3 6 3 5 8 6 4 5 8 6 0
Source: Various City departments
Note: No capital asset indicators are available for the general government or library function.
Fiscal Year
TABLE 19
CITY OF COLLEYVILLE, TEXAS
CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS
118
119
COMPLIANCE
120
THIS PAGE INTENTIONALLY LEFT BLANK
INDEPENDENT AUDITORS’ REPORT ON INTERNAL CONTROL OVER FINANCIAL
REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT
OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS
To the Honorable Mayor and
Members of the City Council
City of Colleyville, Texas
We have audited, in accordance with the auditing standards generally accepted in the United
States of America and the standards applicable to financial audits contained in Government Auditing
Standards issued by the Comptroller General of the United States, the financial statements of the
governmental activities, the business-type activities, the discretely presented component unit, each major
fund, and the aggregate remaining fund information of the City of Colleyville, Texas (the “City”), as of
and for the year ended September 30, 2014, and the related notes to the financial statements, which
collectively comprise the City’s basic financial statements, and have issued our report thereon dated
January 27, 2015.
Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the City’s
internal control over financial reporting (internal control) to determine the audit procedures that are
appropriate in the circumstances for the purpose of expressing our opinions on the financial statements,
but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control.
Accordingly, we do not express an opinion on the effectiveness of the City’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control, such that there is a reasonable possibility that a material
misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a
timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control
that is less severe than a material weakness, yet important enough to merit attention by those charged
with governance.
121
122
Our consideration of internal control was for the limited purpose described in the first paragraph
of this section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any
deficiencies in internal control that we consider to be material weaknesses. However, material
weaknesses may exist that have not been identified.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City’s financial statements are free
from material misstatement, we performed tests of its compliance with certain provisions of laws,
regulations, contracts, and grant agreements, noncompliance with which could have a direct and material
effect on the determination of financial statement amounts. However, providing an opinion on
compliance with those provisions was not an objective of our audit, and accordingly, we do not express
such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that
are required to be reported under Government Auditing Standards.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and
compliance and the results of that testing, and not to provide an opinion on the effectiveness of the
entity’s internal control or on compliance. This report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the entity’s internal control and
compliance. Accordingly, this communication is not suitable for any other purpose.
Waco, Texas
January 27, 2015
Williams, McClure & Parmelee is dedicated to high quality legal representation of businesses and insurance companies in a variety of matters. We are experienced Texas civil litigation attorneys based in Fort Worth who know Texas courts and Texas law. For more information, please contact the law firm at 817-335-8800. The firm’s new office location is 5601 Bridge Street, Suite 300, Fort Worth, Texas 76112.
![texas[2]](https://texasdefensecounsel.com/wp-content/uploads/2014/02/texas2.gif)
