CITY OF BOULDER, COLORADO

CITY OF BOULDER, COLORADO

Comprehensive Annual Financial Report

For the fiscal year ended December 31, 2014

Prepared by the Finance Department Contents printed on recycled paper.

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CITY OF BOULDER, COLORADO

Comprehensive Annual Financial Report

December 31, 2014

Table of Contents

Page

INTRODUCTORY SECTION

Table of Contents

1

Letter of Transmittal

5

Certificate of Achievement for Excellence in Financial Reporting

13

Principal Elected and Administrative Officials

14

Organizational Chart

15

FINANCIAL SECTION

Independent Auditor's Report

17

Management's Discussion and Analysis

21

Basic Financial Statements:

Government-wide Financial Statements:

Statement of Net Position

39

Statement of Activities

40

Fund Financial Statements:

Governmental Funds:

Balance Sheet

42

Reconciliation of the Governmental Funds Balance Sheet to the

Government-wide Statement of Net Position

44

Statement of Revenues, Expenditures and Changes in Fund Balances

45

Reconciliation of the Governmental Funds Statement of Revenues,

Expenditures and Changes in Fund Balances to the Government-wide

Statement of Activities

46

Statements of Revenues, Expenditures, and Changes in Fund Balances ?

Budget and Actual (Budgetary Basis):

General Fund

48

Open Space and Mountain Parks Fund

50

Transportation Fund

51

Proprietary Funds:

Statement of Net Position

52

Statement of Revenues, Expenses, and Changes in Net Position

56

Statement of Cash Flows

58

Pension Trust Funds:

Statement of Fiduciary Net Position

66

Statement of Changes in Fiduciary Net Position

67

Notes to the Financial Statements

69

Required Supplementary Information:

Schedule of Funding Progress ? Police Pension Fund

143

Schedule of Funding Progress ? Fire Pension Fund

144

Schedule of Employer Contributions ? Police and Fire Pension Funds

145

Schedule of Funding Progress ? Boulder Retiree Health Care Benefit Plan

146

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CITY OF BOULDER, COLORADO

Comprehensive Annual Financial Report

December 31, 2014

Table of Contents

(continued)

Page

Schedule of Changes in Net Pension Liability and Related

Ratios ? Police Pension Fund

147

Schedule of Employer Contributions ? Police Pension Fund

148

Schedule of Investment Returns ? Police Pension Fund

149

Schedule of Changes in Net Pension Liability and Related

Ratios ? Fire Pension Fund

150

Schedule of Employer Contributions ? Fire Pension Fund

151

Schedule of Investment Returns ? Fire Pension Fund

152

Notes to Required Supplementary Information ? Actuarial Assumptions

153

Other Schedules:

Combining and Individual Fund Statements and Schedules:

Combining General Fund Statements

Combining Balance Sheet

156

Combining Statement of Revenues, Expenditures and Changes in Fund Balances

159

Schedules of Revenues, Expenditures, and Changes in Fund Balances ?

Budget and Actual (Budgetary Basis):

Core General Fund

160

Library Fund

162

CHAP Fund

163

Major Capital Project Fund:

Schedules of Revenues, Expenditures, and Changes in Fund Balances ?

Budget and Actual (Budgetary Basis):

2011 Capital Improvement Fund

166

Nonmajor Governmental Funds:

Combining Balance Sheet

169

Combining Statement of Revenues, Expenditures and Changes in Fund Balances

171

Nonmajor Special Revenue Funds:

Combining Balance Sheet

172

Combining Statement of Revenues, Expenditures and Changes in Fund Balances

175

Schedules of Revenues, Expenditures, and Changes in Fund Balances ?

Budget and Actual (Budgetary Basis):

Capital Development Fund

178

Lottery Fund

179

Planning & Development Services Fund

180

Affordable Housing Fund

181

.25 Cent Sales Tax Fund

182

Recreation Activity Fund

183

Climate Action Plan Tax Fund

184

Airport Fund

185

Transportation Development Fund

186

Transit Pass General Improvement District

187

Boulder Junction Access GID-TDM

188

Community Development Fund

189

HOME Fund

190

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CITY OF BOULDER, COLORADO

Comprehensive Annual Financial Report

December 31, 2014

Table of Contents

(continued)

Page

Nonmajor Capital Project Funds:

Combining Balance Sheet

191

Combining Statement of Revenues, Expenditures and Changes in Fund Balances

192

Schedules of Revenues, Expenditures, and Changes in Fund Balances ?

Budget and Actual (Budgetary Basis):

Permanent Parks and Recreation Fund

193

Fire Training Center Construction Fund

194

Boulder Junction Improvement Fund

195

Nonmajor Enterprise Funds:

Combining Statement of Net Position

198

Combining Statement of Revenues, Expenses, and Changes in Net Position

201

Combining Statement of Cash Flows

202

Internal Service Funds:

Combining Statement of Net Position

206

Combining Statement of Revenues, Expenses, and Changes in Fund Net Position

210

Combining Statement of Cash Flows

212

Supplementary Schedule:

Combined Schedule of Long-Term Debt Payable

218

STATISTICAL SECTION

Index - Statistical Section

223

Financial Trends:

Net Position by Component

224

Changes in Net Position

226

Fund Balances ? Governmental Funds

230

Changes in Fund Balances ? Governmental Funds

232

Revenue Capacity:

Taxable Sales by Market Sector

234

Direct and Overlapping Sales Tax Rates

236

Largest Sales Tax Remitters by Market Sector

239

Debt Capacity:

Ratios of Net Outstanding Debt by Type

240

Ratios of General Bonded Debt Outstanding

242

Direct and Overlapping Debt

243

Legal Debt Margin Information

244

Pledged Revenue Coverage

246

Demographic and Economic Information:

Demographic and Economic Statistics

248

Principal Employers

249

Operating Information:

Full Time Equivalent City Employees by Functions/Programs

250

Operating Indicators by Function/Program

252

Capital Asset Statistics by Function/Program

254

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