LARIMER COUNTY, COLORADO
NOTES TO FINANCIAL STATEMENTS
Year Ended December 31, 1998

NOTE 16 - RESERVATIONS AND DESIGNATIONS OF FUND EQUITY:

Reservations:

Reservations of fund equity either indicate that a portion of fund equity is legally segregated for a specific future use or indicate that a portion of fund equity is not appropriable. The following reservations are used by the County:

Reserved Retained Earnings - segregates a portion of retained earnings to indicate it is committed to a specific future use. Reserved retained earnings consist of the following:

 

 

Capital

  

Working

Future

  

December 31, 1998

Outlay

Insurance

Capital

Projects

Total
           

Enterprise Fund:

          

Solid Waste

$ 502,784

$ -

$ 1,285,519

$ -

$ 1,788,303
           

Internal Service Funds:

          

Estes Park Common Costs

-

-

-

16,612

16,612

Fleet Services

-

-

388,990

971,342

1,360,332

Print Shop

50,477

-

11,056

67,078

128,611

Telecommunications

94,088

-

115,149

810,979

1,020,216

Self-Insured Risk

          

Management

-

27,300

122,700

-

150,000

Self-Insured Reserve

          -

3,769,671

          -

          -

3,769,671
 

144,565

3,796,971

637,895

1,866,011

6,445,442
           

Total

$ 647,349

$ 3,796,971

$ 1,923,414

$ 1,866,011

$ 8,233,745

 

Reserved Fund Balances - segregates a portion of fund balances to indicate that prepaid expenditures and inventories do not represent available, spendable resources even though they are a component of net current assets. Fund balance reserved for capital projects indicates the fund balance is restricted for the payment of sales tax distributions, open lands purchases and major facilities construction. Fund balance reserved for debt service indicates the fund balance is restricted for the payment of debt principal and interest maturing in future years. Fund balance reserved for emergencies represents a 3% legal restriction pursuant to Article X, Section 20 of the State Constitution (Tabor Amendment). Reserved fund balances consist of the following:

 

 

Capital

  

Debt

    

December 31, 1998

Projects

Inventory

Service

Emergencies

Total
           

General Fund

$ -

$ -

$ -

$ 313,106

$ 313,106
           

Special Revenue Funds:

          

Contingent

-

-

-

1,755,541

1,755,541

Health and Environment

-

44,586

-

-

44,586

Open Lands

3,831,012

-

-

-

3,831,012

Pest Control

-

-

-

6,749

6,749

Sales Tax

4,436,895

-

-

-

4,436,895

Homestead Estates

-

-

-

18

18

Imperial Estates

-

-

-

109

109

Meadowdale Hills

-

-

-

149

149

Namaqua Hills Maintenance

          -

          -

          -

597

597
 

8,267,907

44,586

-

1,763,163

10,075,656
           

Debt Service Funds:

          

Assessment Debt

-

-

538,387

-

538,387

Larimer County Building

          

Authority Debt

          -

          -

6,599,730

          -

6,599,730
 

-

-

7,138,117

  

7,138,117
           

Capital Projects Fund:

          

Larimer County Building

          

Authority Construction

57,077,894

          -

          -

          -

57,077,894
           

Totals

$ 65,345,801

$ 44,586

$ 7,138,117

$ 2,076,269

$ 74,604,773

Designations:

Designations of fund balances are not legally required segregations, but indicate that portion of fund balances the County has made tentative plans for. The following designations are used by the County:

 
 

Designated for

Capital

      
 

Subsequent Year's

Outlay &

Working

Future

  

December 31, 1998

Expenditures

Projects

Capital

Projects

Total
           

General Fund

$ 412,611

$ 611

$ 4,728,156

$ 3,073,050

$ 8,214,428
           

Special Revenue Funds:

          

Building Inspection

60,000

123,919

160,385

512,906

857,210

Community Corrections

-

50,000

250,000

340,419

640,419

Conservation Trust

30,632

-

-

153,131

183,763

Employment and Training Services

-

-

-

59,974

59,974

Enterprise Zone

6,183

-

-

503

6,686

Fair

59,239

-

66,794

-

126,033

Health and Environment

110,497

-

50,000

215,798

376,295

Human Development

-

-

-

269,178

269,178

Human Services

286,798

-

-

3,027,006

3,313,804

Mental Health

262,516

100,000

150,000

266,054

778,570

Parks

190,612

-

-

416,468

607,080

Payments in Lieu of Taxes

5,132

-

-

568,089

573,221

Pest Control

30,654

73,913

49,685

50,913

205,165

Public Trustee

-

-

-

196,970

196,970

Road and Bridge

37,175

-

-

2,081,396

2,118,571

West Vine Stormwater Basin

1,433

4,567

-

29,262

35,262

Carriage Hills

2,166

-

-

11,553

13,719

Club Estates

75

-

-

20,878

20,953

Country Meadows

-

-

-

9,957

9,957

Homestead Estates

-

-

-

4,002

4,002

Imperial Estates

-

-

-

54,526

54,526

Kitchell Subdivision

-

-

-

4,632

4,632

Little Valley Road

-

-

-

5,167

5,167

Meadowdale Hills

527

-

-

4,836

5,363

Namaqua Hills Maintenance

-

-

-

105,763

105,763

Pinewood Springs

-

-

-

41,086

41,086

Red Feather

698

-

-

1,725

2,423

Skyview South

-

-

-

607

607

Venner Ranch

1,932

          -

          -

3,499

          -
 

1,086,269

352,399

726,864

8,456,298

10,621,830
           

Capital Projects Funds:

          

Capital Communications Equipment

-

377,403

-

79,015

456,418

Capital Expenditures

-

3,263,150

-

-

3,263,150

Improvement District Construction

-

13,421

-

27,022

40,443

Replacement Fund

211,048

1,635,228

100,000

1,109,704

3,055,980
 

211,048

5,289,202

100,000

1,215,741

6,815,991
           

Total

$ 1,709,928

$ 5,642,212

$ 5,555,020

$ 12,745,089

$ 25,652,249

Designated for Subsequent Year's Expenditures represents fund balance commitments for appropriated expenditures in excess of anticipated revenues for the year ending December 31, 1999. Fund balances are also designated for the following other purposes:

(a)Capital outlay and projects - purchases of equipment, land, buildings or capital improvement projects.

(b)Working capital - balances which the County Commissioners determined should be maintained at all times and are not available for appropriation; or

(c)Future projects - projects of individual funds.

Back to 1998 Financial Report