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TOWN BOARD REGULAR MEETINGJune 10, 2019 - 7:00 PM

Town Board Chambers, 301 Walnut Street, Windsor, CO 80550

AGENDAA. CALL TO ORDER

1. Roll Call

2. Pledge of Allegiance

3. Review of Agenda by the Board and Addition of Items of New Business to the Agenda forConsideration

4. Proclamation

• Cattle Baron's Ball Day

5. Presentation

• Officer and Civilian of the Year

6. Board Liaison Reports

• Town Board Member Baker - Tree Board, Historic Preservation Commission

• Town Board Member Wilson - Parks, Recreation and Culture Advisory Board; PoudreRiver Trail Corridor

• Mayor Pro Tem Bennett - Water and Sewer Board

• Town Board Member Rennemeyer - Chamber of Commerce

• Town Board Member Jones - Windsor Housing Authority; Great Western Trail Authority

• Town Board Member Sislowski - Clearview Library Board; Planning Commission

• Mayor Melendez - Downtown Development Authority; North Front Range/MPO

7. Public Invited to be Heard

Individuals wishing to participate in Public Invited to be Heard (non-agenda item) are requested to signup on the form provided in the foyer of the Town Board Chambers. When you are recognized, step tothe podium, state your name and address then speak to the Town Board. Individuals wishing to speak during the Public Invited to be Heard or during Public Hearing proceedingsare encouraged to be prepared and individuals will be limited to three (3) minutes. Written commentsare welcome and should be given to the Deputy Town Clerk prior to the start of the meeting.

B. CONSENT CALENDAR

1. Minutes of the May 13, 2019 Regular Town Board Meeting

2. Resolution No. 2019-41 - A Resolution Approving the First Amendment to theIntergovernmental Agreement between the Town of Windsor and the Weld County SchoolDistrict Re-4 dated August 16, 1999, concerning Land Dedications or Payments In Lieu forSchool Purposes

3. Resolution No. 2019-42 - A Resolution Approving and Accepting a Deed of Dedication for

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Right of Way and Temporary Construction Easement from Marcus B. Chapman for 7th Streetand New Liberty Road Roundabout Improvements

4. Resolution No. 2019-43 - A Resolution Re-affirming and Ratifying an IntergovernmentalAgreement Dated January 7, 2018 Regarding the Northern Colorado Drug Task Force

5. Report of Bills May 2019

C. BOARD ACTION

1. Presentation of 2018 Annual Audit ReportPresentation: Randy Watkins, Partner ACM, LLC

a

2. Resolution No. 2019-44 – A Resolution Accepting the Audit Report for 2018 Prepared byAnton Collins Mitchell LLP, Certified Public Accountants

Legislative ActionStaff Presentation, Dean Moyer, Director of Finance

a

3. Ordinance No. 2019-1588 – An Ordinance Amending the Windsor Municipal CodeConcerning Renewal Requirements for Sales Tax License and Requirements for BusinessLicenses in the Town of Windsor, Colorado

Second ReadingLegislative ActionStaff Presentation: Dean Moyer, Director of Finance

a

4. Public Hearing – Conditional Use Grant Extension – Highland Meadows Golf CourseSubdivision 13th Filing, Lot 1 (Power 2 Play Sports) Temporary Gravel Parking – Jon Turner,Hillside Commercial Group, applicant/ Mike Walker, TB Group, applicant’s representative

Quasi-judicialStaff Presentation: Paul Hornbeck, Senior Planner

a

5. Conditional Use Grant Extension – Highland Meadows Golf Course Subdivision 13th Filing,Lot 1 (Power 2 Play Sports) Temporary Gravel Parking – Jon Turner, Hillside CommercialGroup, applicant/ Mike Walker, TB Group, applicant’s representative

Quasi-judicialStaff Presentation: Paul Hornbeck, Senior Planner

a

6. Resolution No. 2019-45 - A Resolution Approving and Adopting an IntergovernmentalAgreement Between Weld RE-4 School District and the Town of Windsor for the SchoolResource Officer Program

Legislative ActionStaff Presentation: Rick Klimek, Chief of Police

a

7. Financial Report April 2019Staff Presentation: Dean Moyer, Director of Finance

a

D. COMMUNICATIONS

1. Communications from Town Attorney

2. Communications from Town Staff

a. Windsor Police Department April 2019 Statistical Report

b. Highland Meadows Golf Course Subdivision 16th Filing L3&4 - CommercialCenter - Site Plan Review

3. Communications from Town Manager

4. Communications from Town Board

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E. EXECUTIVE SESSION

1. An executive session pursuant to Colorado Revised Statutes § 24-6-402 (4)(e) (I) for thepurpose of determining positions relative to matters that may be subject to negotiations;developing strategy for negotiations; and instructing negotiators with respect for certainEconomic Development Incentives (Stacy Miller, Director of Economic Development, JillYoung, Economic Development Specialist)

F. ADJOURN

The Town of Windsor will make reasonable accommodations for access to Town services, programs, and activities and will makespecial communication arrangements for persons with disabilities. Please call (970) 674-2400 by noon on the Thursday prior to themeeting to make arrangements.

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MEMORANDUMDate: June 10, 2019To: Mayor and Town BoardVia: Shane Hale, Town ManagerFrom: Shane Hale, Town ManagerRe: Cattle Baron's Ball Day ProclamationItem #: 4.•

ATTACHMENTS:

Cattle Baron's Ball Day

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PROCLAMATION

Cattle Baron’s Ball Day

WHEREAS, the 27th Annual Northern Colorado Cattle Barons Ball | Sept. 21, 2019 will take place at the site of the brand new Raindance Golf Club in Windsor, CO; and WHEREAS, this elegant and lively event will draw in more than 900 prominent individuals from the Colorado business and philanthropic community and everyone who has ever been touched by cancer will be touched by the generous outcomes of this prestigious event; and WHEREAS, money raised supports the Society’s mission to free the world from the pain and suffering of cancer by directly helping people in our community by providing information and support, free lodging and transportation in addition to currently funding more than $8 million in Colorado research grants; and WHEREAS, the Cattle Baron’s Ball is one of the premier cancer fundraising events both locally and nationwide. Since this event’s humble beginnings more than $8 million has been raised to support all efforts to win the war against cancer. The mission is to save lives, celebrate lives and lead the fight for a world without cancer. Grateful for past, present and future support from Northern Colorado’s remarkable community leaders, top corporations and incredible volunteers who make the celebration possible and create measurable impacts in the fight against cancer year after year; and WHERAS, this will be an elegant tented affair with amazing décor featuring a cocktail reception followed by a gourmet steak dinner as well as silent and live auctions, a pledge drive, honorary tributes, entertainment and dancing. Now, therefore, be it resolved that I, Kristie Melendez, Mayor of Winsor, Colorado do hereby proclaim September 21st, 2019 as Cattle Baron’s Ball Day and the opportunity for us to positively impact lives affected by cancer. As the Mayor, I also call upon the citizens, government agencies, public and private institutions, businesses and schools to join the American Cancer Society to help save lives, celebrate lives and lead the fight for a world without cancer.

Dated this 10th Day of June, 2019.

Kristie Melendez, Mayor

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MEMORANDUMDate: June 10, 2019To: Mayor and Town BoardVia: Shane Hale, Town ManagerFrom: Chief KlimekRe: Officer and Civilian of the YearItem #: 5.•

Background / Discussion: Sgt. Aaron Lopez was recently selected as the Officer of the Year as part of the Optimist annual award. Susannah Vargas was selected as the Civilian of the Year. The selection of both awards was determined bynominations from other employees and then selected by the awards committee.

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MEMORANDUMDate: June 10, 2019To: Mayor and Town BoardVia: Shane Hale, Town ManagerFrom: Krystal Eucker, Town ClerkRe: May 13, 2019 Regular Meeting MinutesItem #: B.1.

ATTACHMENTS:

05/13/19 Regular Town Board Minutes

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TOWN BOARD REGULAR MEETINGMay 13, 2019 - 7:00 PM

Town Board Chambers, 301 Walnut Street, Windsor, CO 80550

MINUTESA. CALL TO ORDER

Mayor Melendez called the meeting to order at 7:05 p.m.

1. Roll call

Mayor Kristie MelendezMayor Pro Tem Ken Bennett Myles Baker Barry Wilson Paul RennemeyerTom JonesDavid Sislowski

Also Present:

Shane Hale, Town ManagerIan McCargar, Town AttorneyTerry Walker, Director of Public WorksRichard Zeigler, Police LieutenantStacy Miller, Director of Economic DevelopmentScott Ballstadt, Director of PlanningDean Moyer, Director of FinanceDennis Wagner, Director of EngineeringMilissa Berry, Senior PlannerJessica Humphries, Director of Administrative ServicesScott Tometich, GIS CoordinatorRyan Phelps, IT AnalystCameron Utoft, Network AdministratorBrian Rowe, Streets Operation ManagerKrystal Eucker, Town Clerk

2. Pledge of Allegiance

Town Board Member Sislowski led the pledge of allegiance.

3. Review of Agenda by the Board and Addition of Items of New Business to the Agenda forConsideration

Town Board Member Rennemeyer moved to approved the agenda as presented, TownBoard Member Wilson seconded the motion. Roll call on the vote resulted as follows;Yeas - Baker, Bennett, Jones, Melendez, Rennemeyer, Sislowski, Wilson; MotionPassed.

4. Presentation

• Colorado Government Association of Information Technology (CGAIT)

Mayor Melendez recognized Cameron Utoft and Ryan Phelps on their Excellence Awardfrom CGAIT for the work on enhancing public-facing communications by implementing

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point-to-point fiber from Windsor Town Hall to the Art and Heritage Center.

• Cartegraph High Performance Government Award

Mayor Melendez recognized Brian Rowe and Scott Tometich for their Cartegraph HighPerformance Government Award. Cartegraph has been an incredible tool to assist inbudgeting, planning, and tracking of assets.

5. Proclamation

• Mental Health Month

Mayor Melendez read the Mental Health Month Proclamation. Joanna Sinnwell with North Range Behavioral Health addressed the Board and thankedthem for the proclamation.

• National Public Works Week Proclamation

Mayor Melendez read the National Public Works Week Proclamation. Terry Walker, Director of Public Works addressed the Board and thanked them for theproclamation.

• National Police Week Proclamation

Mayor Melendez read the National Police Week Proclamation. Lieutenant Ziegler addressed the Board and thanked them for their support and thereading of the proclamation this evening.

• Better Hearing and Speech Month Proclamation

Mayor Melendez read the Better Hearing and Speech Month Proclamation. Lisa Ayers with Bright Skies Therapy Center thanked the Board for reading theproclamation this evening.

6. Board Liaison Reports

• Town Board Member Baker - Tree Board, Historic Preservation Commission

Town Board Member Baker reported the Tree Board will be meeting on May 28, 2019. Mr. Baker reported the Historic Preservation Commission (HPC) recognized Carrie AnnLucas at the last meeting. There was an election of a new Chair which is Ruth Brunnerand the Vice Chair is Jean Zuckweiler. An update was received on the Windsor Lakesignage which are water specific signs around Windsor Lake. A discussion regarding apartnership with the Windsor Severance Historical Society took place although it is notclear on how that would work. The 2019 HPC event will be tours of Boardwalk Park onJune 6th and 27th.

• Town Board Member Wilson - Parks, Recreation and Culture Advisory Board; PoudreRiver Trail Corridor

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Town Board Member Wilson reported the 2019 recreation program numbers throughMarch are:

2,194 lunches served340 flag football players in the spring1,391 pickleball players365 group swim lesson participants1,195 private swim lessons790 culture program participants319 individuals educated through culture outreach programs

A strategic planning meeting will be taking place at the Recreation Center and the publicis invited to share their opinions on the Parks, Recreation and Culture Department. Mr. Wilson stated in regards to the Poudre River Trail Corridor Board, a meeting tookplace with Larimer County Natural Resources and there is a lot of excitement that isgenerating as there is over 20 miles of trail through Windsor, Weld County and Greeley. With the I-25 expansion project, the trail will go under the interstate and connect to theexisting trail on the other side of the interstate.

• Mayor Pro Tem Bennett - Water and Sewer Board

Mayor Pro Tem Bennett reported the Water and Sewer Board met and there were anumber of items on the agenda. Ms. Hegeman, Stormwater Manager gave an update onthe MS4 System. There are five pollution programs that the Town is required to address;public education and outreach, illicit discharge detection and elimination program,construction sites, post construction and municipal operations. There was also an updateon how Windsor is adjusting the raw water cash in lieu policy on a quarterly basis; this isdue to the rapid increase in the cost of water. The Board also discussed what the properrole is for the Water and Sewer Board.

• Town Board Member Rennemeyer - Chamber of Commerce

Town Board Member Rennemeyer reported the Chamber has selected a new ExecutiveDirector which is now the CEO or President and that person is Scott Soldat-Valenzuela. A meet and greet will be scheduled in the near future.

• Town Board Member Jones - Windsor Housing Authority; Great Western Trail Authority

Town Board Member Jones reported the Great Western Trail Authority was ready toadvertise for bids tomorrow although there is a property line dispute which involvesapproximately 500 square foot. The area is in the process of being surveyed.

• Town Board Member Sislowski - Clearview Library Board; Planning Commission

Town Board Member Sislowski reported the Planning Commission meet and held apublic hearing regarding the Harmony Ridge Subdivision which is on this evening'sagenda. Mr. Sisloski reported the Library Board met and discussed adult programming, trivia atHigh Hops and arts and crafts. It was announced that Kelly Hall has been selected as theBusiness Outreach Coordinator for the Library.

• Mayor Melendez - Downtown Development Authority; North Front Range/MPO

Mayor Melendez reported the MPO approved unanimously the support letter of asupplemental $250 million for the north I-25 segment 7 and 8. Information was reviewedfrom the Colorado Air Quality Control Commission. Rebecca White, CDOT's newDirector of the Division of Transportation Development gave a detailed presentation onresetting CDOT's statewide planning process to include all modes of transportationthrough the development of a 10 year strategic plan of projects.

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7. Public Invited to be Heard

Brandon Battaglia, 306 Hemlock Drive, Windsor, CO is looking for clarification of the abandonvehicle ordinance. Ms. Melendez referred Mr. Battaglia to Mr. Hale for more information. Katie Scherer, Clearview Library Board addressed the Town Board and informed them that theLibrary will be working on a Strategic Plan. The winner of the Chili Cook-off was On theBorder.

B. CONSENT CALENDAR

1. Minutes of the April 1, 2019 Special Meeting, Minutes of the April 8, 2019 Special Meeting andMinutes of the April 22, 2019 Regular Meeting - K. Eucker

2. Resolution No. 2019-39 - A Resolution Accepting a Permanent Public Utility Easement UponLot 4, Windsor Commons Subdivision First Filing - D. Blair

3. Report of Bills April 2019 - D. Moyer

Town Board Member Rennemeyer moved to approve the consent calendar, Mayor ProTem Bennett seconded the motion. Roll call on the vote resulted as follows; Yeas -Baker, Bennett, Jones, Melendez, Rennemeyer, Sislowski, Wilson; Motion Passed.

C. BOARD ACTION

1. Ordinance No. 2019-1587 - An Ordinance Revising and Readopting the Methodology andCash In-Lieu Payments pursuant to the Intergovernmental Agreement Concerning LandDedication or Payments In-Lieu for School Purposes entered into by the Town of Windsor andWeld County School District RE-4

Per Mr. Ballstadt, the enclosed ordinance will revise and readopt the methodology and cash in-lieu payments pursuant to the Intergovernmental Agreement Concerning Land Dedication orPayments In-Lieu for School Purposes entered into by the Town of Windsor and Weld CountySchool District RE-4.

There have been no changes to the ordinance since first reading and staff recommendsapproval of the ordinance on second reading as presented. Ms. Melendez inquired if there is something now that is set up so that it will be looked at on anmore frequent basis.

Mr. Ballstadt stated he believed the district has been looking at it on a more frequentbasis although not reporting their reviews back to the Town Board. It was requested of theDistrict to include some of that information in their annual report.

Ms. Melendez opened the meeting up for public comment to which there was none.

Mayor Pro Tem Bennett moved to approve Ordinance 2019-1587, Town Board MemberRennemeyer seconded the motion. Roll call on the vote resulted as follows; Yeas -Baker, Bennett, Jones, Melendez, Rennemeyer, Sislowski, Wilson; Motion Passed.

2. Public Hearing – Final Major Subdivision - The Ridge at Harmony Road Subdivision 3rdFiling– Jeff Mark, The Landhuis Company, applicant / Kristin Turner, TB Group, applicant’srepresentative

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Town Board Member Rennemeyer moved to open the public heairng, Town BoardMember Jones seconded the motion. Roll call on the vote resulted as follows; Yeas -Baker, Bennett, Jones, Melendez, Rennemeyer, Sislowski, Wilson; Motion Passed.Mr. Sislowski stated, “Madam Mayor, in my capacity as the Town Board liaison for the PlanningCommission I was present at the Commission meeting during which this matter was previouslypresented. I wish to state that my participation in the Planning Commission proceedings has inno way influenced me in my capacity as a Town Board Member this evening. I will make mydecision and cast my vote this evening based solely on the evidence presented during thispublic hearing." Per Ms. Berry, the applicant has submitted a final major subdivision plat, known as The Ridgeat Harmony Road Subdivision 3rd Filing. The subdivision encompasses approximately 148acres and is zoned Residential Mixed Use (RMU). Final Plat characteristics:

301 single-family lots Most lots are between 7,000 and 9,000 sf Larger lots (9,000 –30,000 sf) adjacent to Alexander Estates SubdivisionProduct: 1 & 2-story houses with attached 2-3 car garagesTracts for open space (34 acres), commercial (7 acres), multi-family (7.5 acres), and other(10 acres) future developmentConnections to school site through neighborhood, intersection bulb-outs, widenedsidewalk along north side of Harmony Ridge Parkway (to school site in Phase 2)Town trail along Harmony Road & WCR 15Park sites = approximately 1 acre total over 2 tracts (large park site in Phase 2)Offsite improvements will include widening of Harmony Road to four lanes with alandscaped medianBoxelder lift station site on WCR 15

Since the preliminary plat stage, an irrigation line has been re-routed from an alignment in theinterior of the subdivision to an easement along WCR 15. The residential lot count and generalresidential lot sizes, open spaces tracts, and future development tracts have not changed. Staff is working with the applicant to ensure screening of the Boxelder lift station as viewed fromthe Town trail and from WCR 15. The Town is also working with the applicant on agreements inregard to the construction and maintenance of improvements to Harmony Road betweenDuncroft Drive and WCR 15. During the preliminary plat phase, the applicant held a neighborhood meeting on March 8,2018, in accordance with Chapter 16, Article XXXI of the Municipal Code. There wereapproximately eight neighbors in attendance. Please see the enclosed neighborhood meetingnotes for discussion topics and responses. At the May 1, 2019 Planning Commission meeting, Doug Ochsner, representing the Lake LeeLateral Ditch Company, requested that the applicant install a smooth wire fence along thenorthern property line to discourage people from trespassing on the ditch company property andalso to install a gate at the WCR 15 entrance to the ditch access road to deter people fromdriving on the road. The applicant’s representative stated that the requests would be conveyedto the applicant. At its May 1, 2019 regular meeting, the Planning Commission forwarded a recommendation ofapproval with the condition that all remaining Planning Commission and staff comments beaddressed including the applicant working with staff to screen the Boxelder lift station facility asviewed from the Town Trail and WCR 15. The application is consistent with various goals of the Comprehensive Plan.

Notification for the public hearing was completed in accordance with the Municipal Code.

At their May 1, 2019 regular meeting of the Planning Commission,

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Staff requests the following be entered into the record:Application and supplemental materialStaff memorandum and supporting documentsAll testimony presented during the public hearingRecommendation

Mr. Sislowski requested clarification regarding the request for fencing and the access gate.

Ms. Berry stated at the Planning Commission meeting, a representative from the ditchcompany voiced a concern of the ditch becoming an attraction to people in the area andat that meeting it was suggested that there be a fence put up on the southern portion of theditch. A gate was also requested at the east end of the property where it meets CountyRoad 15 to prohibit people from entering the site. The applicant Jeff Mark addressed the Board and stated there have been manydiscussions with the ditch company and they are willing to work with the ditch companywithin reason. Fencing along that ditch is very expensive. Kristen with Birdsell Group addressed the Board and stated the fencing and gate requestis a fairly new request. Typically in the Northern Colorado area is that when there is aditch there is often a ditch located in close proximity. Although, there have been no trailsplanned for that area. There will also be signage placed in the area.

Dr. Jones inquired if there was a trail planned along the ditch. Mr. Mark stated there was no trail planned although there is kind of a natural trail in thearea.

Mr. Baker inquired as to who is technically responsible to protect the ditch.

Mr. McCargar stated it is the responsibility of the property own to fence out. Ms. Melendez inquired as to the farthest distance between the property to the ditch.

Mr. Mark stated it looks to be approximately 30-50 feet. Mr. Baker inquired as to open space and it looks like a large portion is on Harmony Road.

Mr. Mark stated those area actually future development tracts. Mr. Bennett inquired as to how close the lift stated is to Harmony Road.

Ms. Berry stated if approximately 400 feet off of Harmony Road. Mr. Bennett inquired as to how extensive the landscaping is.

Ms. Berry stated there is landscaping already on the south portion and there is an openspace area with larger evergreens.

Dr. Jones inquired if the park space is meeting the Town of Windsor requirements. Ms. Berry stated they were meeting requirements.

Ms. Melendez inquired if the screening will include fencing. Ms. Berry stated there has been discussion regarding a privacy fence.

Dr. Jones inquired if Boxelder will serve this area in perpetuity

Ms. Berry that is the understanding.

Town Board Member Rennemeyer moved to close public hearing, Town BoardMember Baker seconded the motion. Roll call on the vote resulted as follows; Yeas -Baker, Bennett, Jones, Melendez, Rennemeyer, Sislowski, Wilson; Motion Passed.

3. Resolution 2019-40 - A Resolution Approving a Final Major Subdivision - The Ridge atHarmony Road 3rd Filing - Jeff Mark, Landhuis Company, applicant / Kristin Turner, TB Group,Applicant's Representative

Ms. Berry had nothing further to add.

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Town Board Member Rennemeyer moved to approve Resolution 2019-40, Mayor ProTem Bennett seconded the motion. Roll call on the vote resulted as follows; Yeas -Baker, Bennett, Jones, Melendez, Rennemeyer, Sislowski, Wilson; Motion Passed.

4. Ordinance No. 2019-1588 - An Ordinance Amending the Windsor Municipal Code ConcerningRenewal Requirements for Sales Tax Licenses and Requirements for Sales Tax Licenses andRequirements for Business Licenses in the Town of Windsor Colorado

Per Mr. Moyer, In Windsor's original sales tax code, all sales tax licenses renew on January 1,thus causing a heavy workload in the months of November and December each year. Thisordinance changes that to make the licenses renewable 12 months after they originate. This willeven the workflow throughout the year. Additionally our existing code requires that mobile food vendors have a separate license foreach location that they may park their truck. This ordinance eliminates that requirement,requiring only one license with our planning department approving the places the trucks requestto park. Mr. Bennett inquired if it matters if it is on public or private property

Mr. Moyer stated mobile vendors can not set up in a public right-of-way. Mr. Wilson thanked Mr. Moyer for the change in the ordinance to make the process morefeasible to mobile food vendors.

Ms. Melendez inquired if the fee will be going up from $10 to $25 for the licenses. Mr. Moyer stated that it will be going up to $25.

Mr. Sislowski commented that this is well thought out and simplifies workload.

Town Board Member Rennemeyer moved to approve Ordinance 2019-1588, Mayor ProTem Bennett seconded the motion. Roll call on the vote resulted as follows; Yeas -Baker, Bennett, Jones, Melendez, Rennemeyer, Sislowski, Wilson; Motion Passed.

5. Financial Report February 2019

Mr. Moyer gave an overview of the financial reported that was included in packet material.

6. Financial Report March 2019

Mr. Moyer gave an overview of the financial report that was included in packet material.

D. COMMUNICATIONS

1. Communications from Town Attorney

2. Communications from Town Staff

Mr. McCargar reminded the Board of the executive session this evening. Mr. Ballstadt informed the Board that the Community Development and Building Permitreports are currently behinds due to the changes in staffing. Mr Wagner gave an overview of the some areas where work has been done in Windsorto ease the amount of flooding that occurs in the area. If the river continues to come upabove 3,000 CFS, there will be roads that will flood. Mr. Hale informed the Board that Windsor placed 5th in the Mayor's Water Challenge

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with 1,497 pledges and an estimated water savings of 6.1 million gallons.

a. Windshire Park Annex - Public Works/Parks Expansion - Site Plan Review - P.Hornbeck

3. Communications from Town Manager

4. Communications from Town Board

Mr. Baker informed the Board that the Historic Preservation Commission has the virtualwalking tours available on the Windsor website. Ms. Melendez gave reminder of Coffee with the Mayor on May 18, 2019 from 7:30 - 9:00a.m. at the Community Recreation Center. Dessert and Dish is also scheduled for May 23, 2019 from 7:00 - 9:00 p.m. at ColoradoCherry Company. The American Legion will be hosting a Memorial Day Celebration at the LakeviewCemetery beginning at 10:00 a.m.

E. EXECUTIVE SESSION

1. An executive session pursuant to Colorado Revised Statutes § 24-6-402 (4)(e) (I) for thepurpose of determining positions relative to matters that may be subject to negotiations;developing strategy for negotiations; and instructing negotiators with respect for certainEconomic Development Incentives (Jill Young, Economic Development Specialist)

Town Board Member Rennemeyer moved to go into executive session pursuant toColorado Revised Statutes § 24-6-402 (4)(e) (I) for the purpose of determiningpositions relative to matters that may be subject to negotiations; developing strategyfor negotiations; and instructing negotiators with respect for certain EconomicDevelopment Incentives (Jill Young, Economic Development Specialist), Town BoardMember Baker seconded the motion. Roll call on the vote resulted as follows; Yeas -Baker, Bennett, Jones, Melendez, Rennemeyer, Sislowski, Wilson; Motion Passed.Upon a motion duly made, the Town Board returned to the Regular Meeting at 9:25 p.m.

The Executive Session was closed and the Town Board returned to the Special Meeting.

Upon returning to the Special Meeting, Mayor Melendez advised that if any participants in theExecutive Session believed the session contained any substantial discussion of any matters notincluded in the motion to convene the Executive Session, or believed any improper actionoccurred during the Session in violation of the Open Meetings Law; such concerns should nowbe stated. Hearing none, the Regular Meeting resumed at 9:25 p.m.

F. ADJOURN

Town Board Member Baker moved to to adjourn, Mayor Pro Tem Bennett seconded themotion. Roll call on the vote resulted as follows; Yeas - Baker, Bennett, Jones, Melendez,Rennemeyer, Sislowski, Wilson; Motion Passed.The meeting was adjourned at 9:25 p.m.

_____________________________________Krystal Eucker, Town Clerk

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MEMORANDUMDate: June 10, 2019To: Mayor and Town BoardVia: Shane Hale, Town ManagerFrom: Ian McCargar, Town AttorneyRe: First Amendment to the Intergovernmental Agreement between the Town of Windsor and the Weld County SItem #: B.2.

Background / Discussion: The Town entered into a intergovernmental agreement (IGA) with the Weld County RE-4 School District in 1999addressing land dedication or cash in lieu payments to address increased demands on the district due to residentialgrowth and related student population increases. The methodology for calculating these fees has been updated in2000, 2007 and most recently on April 22, 2019. At that time, Town Board was advised that an amendment to the IGAwould be coming. In reviewing these matters, it was determined that the IGA should be amended and updated to more accurately reflectthat the Town really has no involvement in the collection of the fees, nor with what happens to the money after it is paid tothe school district. The Town's involvement merely is to condition development approval on satisfaction of the schooldistrict fee/land dedication requirements.

Financial Impact: None. The cash in lieu payments are paid directly to Weld RE-4.

Relationship to Strategic Plan: This is consistent with the Strategic Plan Mission Statement: "The Town of Windsor promotes community andhometown pride through sustainable, excellent and equitable delivery of services in a fiscally responsible manner."

Recommendation:Approve Resolution Approving the First Amendment to the Intergovernmental Agreement between the Town of Windsorand the Weld County School District RE-4 dated August 16, 1999, concerning Land Dedications or Payments in Lieufor School Purposes.

ATTACHMENTS:

Resolution No. 2019-41First Amendment to 1999 IGA

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TOWN OF WINDSOR

RESOLUTION NO. 2019 - 41 A RESOLUTION APPROVING AND ADOPTING THE FIRST AMENDMENT TO THE INTERGOVERNMENTAL AGREEMENT BETWEEN THE TOWN OF WINDSOR AND THE WELD COUNTY RE-4 SCHOOL DISTRICT DATED AUGUST 16, 1999 CONCERNING LAND DEDICATIONS OR PAYMENTS IN LIEU FOR SCHOOL PURPOSES WHEREAS, the Town of Windsor (“Town”) is a Colorado home rule municipality with all powers and authority vested by Colorado law; and WHEREAS, the Town and the Weld County School District RE-4 (“District”) have enjoyed a long history of cooperation and collaboration; and WHEREAS, the Town and the District (“Parties”) acknowledge the Intergovernmental Agreement dated August 16, 1999 (“IGA”) has allowed the Town to require land dedications or payments in lieu for school purposes as a condition of development; and WHEREAS, the IGA provides for District ownership of all monies paid in lieu, with the money never passing through the Town; and WHEREAS, the Town’s only obligation is to require the land dedications or payments in lieu as a condition of development; and WHEREAS, the IGA places the burden upon the District to seek permission from the Town to exceed certain time limitations, and refund unused payments with interest to property owners after the time limitation has exceeded or request a public hearing with the Town to extend the time period; and WHEREAS, the Town, never having any ownership interest in the money, its only role is to require the dedication or payment in lieu as a condition of development, has no opinion or role in how the District chooses to handle their money; and WHEREAS, the Parties desire to update and amend this agreement to eliminate certain requirements to bring this IGA in line with subsequently adopted agreements by the District with other municipalities; and WHEREAS, C.R.S. §29-1-203 encourages and permits local governments to cooperate in the provision of any function or service lawfully authorized to each of the cooperating entities; and WHEREAS, the Town Board acknowledges that the approval of this First Amendment to the IGA will modernize the agreement, eliminate waste, promote efficiency and remove

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2

the Town from any involvement with how the District handles the money collected pursuant to the IGA and subsequent amendments. NOW, THEREFORE, be it resolved by the Town Board for the Town of Windsor, Colorado, as follows:

1. The attached First Amendment to the Intergovernmental Agreement between the Town of Windsor and the Weld County Re-4 School District dated August 16, 1999 concerning Land Dedications or Payments In Lieu for School Purposes, is hereby approved and adopted.

2. The Mayor is hereby authorized to execute the attached First Amendment to the

1999 Intergovernmental Agreement on behalf of the Town.

Upon motion duly made, seconded and carried, the foregoing Resolution was adopted this 10th day of June, 2019.

TOWN OF WINDSOR, COLORADO ATTEST:

_________________________________ By:______________________________ Krystal Eucker, Town Clerk Kristie Melendez, Mayor

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1

FIRST AMENDMENT TO THE INTERGOVERNMENTAL AGREEMENT

BETWEEN THE TOWN OF WINDSOR AND THE WELD COUNTY

SCHOOL DISTRICT RE-4 DATED AUGUST 16, 1999, CONCERNING

LAND DEDICATIONS OR PAYMENTS IN LIEU FOR SCHOOL

PURPOSES

This First Amendment to The Intergovernmental Agreement between the Town Of Windsor and

the Weld County School District (“School District”) Re-4 Dated August 16, 1999, Concerning Land

Dedications Or Payments In Lieu For School Purposes (“Amendment”) is entered into this ____

day of _____________, 2019, by and between THE TOWN OF WINDSOR, a home rule

municipality and political subdivision of the State of Colorado (“Windsor”) and the School District,

a political subdivision of the State of Colorado (collectively referred to as “Parties”).

RECITALS

WHEREAS, the Windsor Town Board and the School District have a long history of

intergovernmental cooperation; and

WHEREAS, in 1999, the parties entered into an Intergovernmental Agreement dated August 16,

1999 (“1999 IGA”) concerning the dedication of school land or in-lieu payments; and

WHEREAS, the parties subsequently revised the methodology for calculating land dedication

requirements and cash in lieu to reflect the current needs of the School District in Ordinance 2007-

1282, and again, 2019-1587; and

WHEREAS, upon review of the 1999 IGA, the Parties have determined that portions of Paragraphs

6 and 9 should be revised or eliminated to meet the current desires of the parties; and

WHEREAS, the Town Board hereby determines that the below amendments are appropriate and

reflective of the needs of the School District, and serve not only the interests of the School District

but also the interests of the citizens of the Town of Windsor.

NOW, THEREFORE, in consideration of the covenants and obligations expressed herein, it is

hereby agreed by and between Windsor and Severance as follows:

1. Preamble. The Parties hereby acknowledge that the recitals set forth above are true and

correct, and those recitals are incorporated into the body of this Amendment. Both parties, further,

acknowledge and reaffirm the 1999 IGA with the exception of the amendments below:

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2. Paragraph 6. Collection, Deposit, and Expenditure of In-Lieu Payments is hereby modified

as follows:

6. b. The words “Subject to the time limitations contained in this Agreement,” at the

beginning of the last sentence of subparagraph (b) are hereby deleted in their entirety.

6.c. Subparagraph (c) is hereby deleted in its entirety.

6.d. Subparagraph (d) is hereby deleted in its entirety.

3. Paragraph 9. Term. is hereby modified to read as follows:

9. Term.

The term of this Agreement shall commence on the effective date hereof and continue for a

period of ten years thereafter unless the Town repeals the implementing ordinance adopted

by the Town. This Agreement shall automatically renew for additional ten year periods

unless one party notifies the other of its intent not to renew the Agreement in compliance

with the terms of Section 10.c hereunder.

4. Effective Date. This Amendment shall be presented to the governing board of the

respective parties for adoption by resolution, following notice as required by the Colorado Open

Meetings Law, § 24-6-401, et. seq. This Amendment shall become effective upon its adoption by

both parties.

5. Term. The parties intend this Amendment to remain in full force and effect indefinitely.

6. Modification. All modifications to this Amendment must be made in writing and approved

by the governing bodies of both parties by resolution.

7. Notices. Requirements of notice shall be deemed satisfied upon mailing to the parties as

follows:

To Windsor: Copy to:

Town Manager Town Attorney

301 Walnut Street 301 Walnut Street

Windsor, CO 80550 Windsor, CO 80550

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To Weld County School District RE-4:

Attention: Superintendent of Schools

1020 Main Street

PO Box 609

Windsor, CO 80550-0609

8. Effect of Invalidity. If any portion of this Amendment is held invalid or

unenforceable by a court of competent jurisdiction as to either party or as to both parties, such

invalidity or unenforceability shall not affect the remainder of this Amendment, except that if a

requirement or limitation is declared invalid as to one party, any corresponding requirements or

limitation shall be deemed invalid as to the other party.

IN WITNESS WHEREOF, the above parties hereto have caused this Amendment to be executed

the day and year first above written.

[Remainder of this page intentionally left blank - - signature page to follow]

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TOWN OF WINDSOR

By: _________________________________

Kristie Melendez, Mayor

ATTEST:

_______________________________________

Krystal Eucker, Town Clerk [Seal]

APPROVED AS TO FORM:

_______________________________________

Ian D. McCargar, Town Attorney

WELD COUNTY SCHOOL DISTRICT RE-4

By: _______________________________________

Tempy Bowman, Board of Education President

ATTEST:

_______________________________________

Regan Price, Board of Education Secretary [Seal]


_______________________________________

Caplan and Earnest LLC

Attorneys for Weld County School District RE-4

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MEMORANDUMDate: June 10, 2019To: Mayor and Town BoardVia: Shane Hale, Town ManagerFrom: Omar R. Herrera, Civil EngineerRe: Chapman Property - Acceptance of Deed of Dediction for ROW and EasementItem #: B.3.

Background / Discussion: To aid in the construction of the proposed roundabout at 7th Street and New Liberty Road, the Town has acquiredpermanent right-of-way and a temporary construction easement at the northwest corner of 7th St. and New Liberty Rd.. The dedication of right-of-way includes 400 square feet and is illustrated in the attached Deed and accompanyingExhibit A. The temporary construction easement includes 9,249 SF as depicted in the attachment. This easement will allow theTown to construct a temporary detour road while the intersection is completely closed during construction of theroundabout.

Relationship to Strategic Plan: Promotes safety, quality of life and infrastructure.

Recommendation:Adopt Resolution Approving and Accepting a Deed of Dedication for Right-of-Way and Temporary Easementfrom the Chapman property, for use as a permanent and temporary easement for the 7th Street and New LibertyRoad Roundabout Project.

Authorize the Mayor to sign the Acceptance section of the Deed of Dedication for Right-of-Way and TemporaryConstruction Easement on behalf of the Town.

ATTACHMENTS:

Resolution No. 2019-42Chapman Deed of Dedication for ROW and Exhibit AChapman Temporary Construction Easement and Exhibit A

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TOWN OF WINDSOR

RESOLUTION NO. 2019-42 A RESOLUTION APPROVING AND ACCEPTING A DEED OF DEDICATION FOR RIGHT-OF-WAY AND TEMPORARY CONSTRUCTION EASEMENT FROM MARCUS B. CHAPMAN FOR 7TH ST. AND NEW LIBERTY RD. ROUNDABOUT WHEREAS, the Town of Windsor (“Town”) is a Colorado home rule municipality with all powers and authority provided by Colorado law; and WHEREAS, the Town intends to undertake roadway and related improvements to the intersection of New Liberty Road and 7th Street (“New Liberty & 7th Street Roundabout”); and WHEREAS, in order to carry out the work and assure the permanent location for the New Liberty & 7th Street Roundabout, the Town has negotiated easement rights with Marcus B. Chapman, the adjacent property owner; and WHEREAS, attached hereto and incorporated herein are the Temporary Construction Easement and Deed of Dedication for Right-of-Way, together with their incorporated exhibits; and WHEREAS, the Town Board desires to approve the acceptance of the attached instruments; and WHEREAS, the Town Board finds that the approvals set forth in this Resolution promote the public health, safety and welfare. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN BOARD OF THE TOWN OF WINDSOR, COLORADO, AS FOLLOWS:

1. The Town hereby accepts the Temporary Construction Easement attached hereto. 2. The Town hereby accepts the Deed of Dedication for Right-of-Way attached hereto.

3. The Mayor is hereby authorized to execute the Acceptance portion of the attached

instruments on the Town’s behalf.

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TOWN OF WINDSOR, COLORADO By:______________________________ Kristie Melendez, Mayor

ATTEST: _________________________________ Krystal Eucker, Town Clerk

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MEMORANDUMDate: June 10, 2019To: Mayor and Town BoardVia: Shane Hale, Town ManagerFrom: Chief KlimekRe: IGAItem #: B.4.

Background / Discussion: Changes regarding asset forfeitures regarding Drug Task Forces have required a number of changes around assetsharing regarding Task Force seizures. Windsor P.D. has for a number of years provided a monetary contribution to the Northern Colorado Drug Task Force.We have not signed an IGA in several years. We need to ratify the agreement regarding our relationship with the Task Force

Financial Impact: There is no cost associated with the IGA

Relationship to Strategic Plan: Promotes safety for the community

Recommendation:Staff recommends the ratification of the IGA

ATTACHMENTS:

Resolution No. 2019-43Drug Task Force IGASignature Page

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TOWN OF WINDSOR

RESOLUTION NO. 2019-43

A RESOLUTION RE-AFFIRMING AND RATIFYING AN INTERGOVERNMENTAL AGREEMENT DATED JANUARY 7, 2018 REGARDING THE NORTHERN COLORADO

DRUG TASK FORCE

WHEREAS, the Town of Windsor (“Town”) is a home rule municipality with all powers and authority granted pursuant to Colorado law; and WHEREAS, Article XIV, Section 18 of the Colorado Constitution, Colorado Revised Statutes (“CRS”)§29-1-201 et seq., 29-1-203(1), and 29-5-104, authorizes the County of Larimer, the City of Fort Collins, the City of Loveland, the Town of Windsor, and the 8th Judicial District Office of the District Attorney to cooperate and contract with each other; and WHEREAS, the above-listed public entities recognize that a cooperative and coordinated multi-jurisdiction drug task force is the most effective and efficient way to impact the existing drug problem that crosses jurisdictional boundaries within Larimer County; and WHEREAS, the Parties believe that the pooling of each party's resources, information, expertise, equipment, and money allows for a greater impact on the drug problem than any one agency could achieve within their own jurisdictional boundaries; and WHEREAS, the objectives of the Parties participating in the multi-jurisdictional task force are to impact the availability of drugs locally and regionally through a balanced enforcement approach which targets high level dealer/wholesalers, as well as neighborhood drug problems; provide a deterrent to the distribution of drugs by increasing the risk of detection, apprehension, prosecution and conviction, as well as through asset forfeiture when appropriate; continue active collaboration with community groups involved in drug treatment; education, prevention and intervention; and cooperate with other local and federal agencies and task forces in the enforcement of drug laws; and WHEREAS, the Parties entered into an Intergovernmental Agreement dated January 7, 2018 regarding the Northern Colorado Drug Task Force (attached and incorporated by reference); and WHEREAS, upon review, the parties discovered there is no signature page for Windsor, although the Town’s intent was and has been to participate in this Task Force. The Town’s approval and signature is required for the Task Force to continue to receive certain funds. NOW, THEREFORE, the parties agree as follows:

1. The foregoing Recitals are true and correct.

2. The adoption of the Intergovernmental Agreement dated January 7, 2018 regarding The Northern Colorado Drug Task Force was and is approved by the Town.

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3. The Town re-affirms, approves and ratifies its participation in the Northern Colorado

Drug Task Force, and the IGA dated January 7, 2018 shall remain in full force and effect, NUNC PRO TUNC.

4. Chief Klimek is authorized to sign the IGA dated January 7, 2018, as re-affirmed and ratified as if signed on January 7, 2018.

TOWN OF WINDSOR, a Colorado municipal corporation

By: ___________________________________ Kristie Melendez, Mayor ATTEST: By: ________________________ Krystal Eucker, Town Clerk APPROVED AS TO FORM: By: ________________________ Kimberly Emil Assistant Town Attorney

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Northern Colorado Drug Task Force

8th Judicial District Office of the

District Attorney

Fort Collins Police Services

Larimer County Sheriff's Office

Loveland Police Department

Windsor Police Department

INTERGOVERNMENTAL AGREEMENT REGARDING THE

NORTHERN COLORADO DRUG TASK FORCE

"\h. ~ c:, \ ~ This Agreement is made and entered into this J....:day of-:So....:f\ '-'--0-..c-;;j , ~' by

and between Larimer County, a political subdivision of the State of Colorado on behalf of the Larimer County Sheriff's Office ("LCSO") and the District Attorney's Office for the 8th Judicial District; the City of Fort Collins, Colorado, a municipal corporation on behalf of Fort Collins Police Services ("FCPS"); the City of Loveland, Colorado, a municipal corporation on behalf of Loveland Police Department ("LPD"); the Town of Windsor, Colorado, a municipal corporation on behalf of Windsor Police Department ("WPD"); collectively referred to as the "Parties" .

WITNESSETH:

Whereas, the County is a political subdivision of the State of Colorado duly organized and existing in accordance with Colorado law. The City of Fort Collins, City of Loveland, and the Town of Windsor are home rule municipalities, all duly organized and existing in accordance with Colorado law; and

Whereas, pursuant to C.R.S. Section 29-1-203(1), the County of Larimer, the City of Fort Collins, the City of Loveland, the City of Windsor, and the 8th Judicial District Office of the District Attorney are authorized to cooperate with one another to provide any function or service

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lawfully authorized to each and are therefore each authorized under C.R.S. Section 29-1-203(1) to enter into this Agreement; and

Whereas, the above-listed public entities recognize that a cooperative and coordinated multi-jurisdiction drug task force is the most effective and efficient way to impact the existing drug problem that crosses jurisdictional boundaries within Larimer County; and

Whereas, the Parties believe that the pooling of each party's resources, information, expertise, equipment, and money allows for a greater impact on the drug problem than any one agency could achieve within their own jurisdictional boundaries; and

Whereas, the objectives of the Parties participating in the multi-jurisdictional task force are to impact the availability of drugs locally and regionally through a balanced enforcement approach which targets high level dealer/wholesalers, as well as neighborhood drug problems; provide a deterrent to the distribution of drugs by increasing the risk of detection, apprehension, prosecution and conviction, as well as thr6ugh asset forfeiture when appropriate; continue active collaboration with community groups involved in drug treatment; education, prevention and intervention; and cooperate with other local and federal agencies and task forces in the enforcement of drug laws; and

Whereas, some of the Parties to this Agreement have previously entered into intergovernmental agreements providing for the formation and continued operation of the Northern Colorado Drug Task Force ("Task Force") and although the previous agreements have been mutually beneficial, the Parties desire to provide for the continued existence of the Task Force and provide for changing circumstances of its membership.

NOW, THEREFORE, in consideration of the Parties' mutual promises and agreements contained herein, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Parties hereto agree as follows:

1. Termination of Prior Intergovernmental Agreements: Those Parties to previous Intergovernmental Agreements concerning the operation of the Task Force agree that this Agreement shall replace and supersede in all respects any previous agreement between the Parties concerning the operation of the Task Force. However, the previous agreement between the Parties shall remain in effect through December 31, 2017

2. Term of Agreement: The term of this Agreement shall begin January 1, 2018, and continue for consecutive one year terms, ending on January 1, 2023, unless sooner terminated as provided herein or extended by mutual written agreement of the Parties. The parties shall review this Agreement at least every five (5) years to determine if renewal is appropriate.

3. Task Force Establishment:

There is hereby established an association of entities to be known as the Northern Colorado Drug Task Force ("Task Force") for the purpose of coordinating and facilitating multi-jurisdiction drug enforcement.

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The Task Force is not a separate legal entity. The Parties enter into this Agreement as separate and independent entities and each shall maintain such status throughout the term of this Agreement.

4. Task Force Membership: Any law enforcement agency in Larimer County may become a member of the Task Force by providing the Executive Board with a proposal regarding personnel and/or resources that they will contribute to the Task Force, being approved for membership by the Executive Board, agreeing to the terms and conditions of this Agreement and by executing a counterpart copy of this Agreement and all subsequent amendments or addenda thereto. Any personnel assigned to the Task Force shall remain the employees of their respective agencies.

A. Managing Agency: A law enforcement agency that assigns full time personnel to Task Force operations is designated as a "Managing Agency". For the purposes of this Agreement, the District Attorney's Office is a Managing Agency. The actual number of full-time personnel assigned to Task Force operations by each agency may fluctuate year to year, depending on the financial circumstances of each agency and the addition or withdrawal of any other agency to or from the Task Force operations.

B. Participating Agency: Except for the District Attorney's Office, any law enforcement agency that does not assign personnel to Task Force operations, but does provide investigative cooperation, enforcement assistance, intelligence and information sharing and/or any other non-personnel contribution to Task Force operations is designated as a "Participating Agency. Participating Agencies are not voting members of the Executive Board and do not receive any asset forfeiture distributions. As part of the working relationship with the Task Force, Participating Agencies may receive assistance in narcotics investigations including the investigation of illegal drug laboratories, access to investigative technology and the ability to access the Task Force criminal intelligence system through Task Force detectives and supervisors. Requests for assistance will be approved by the Commander based on available resources and other Task Force priorities.

C. Contributing Agency: A law enforcement agency that assigns part time personnel to Task Force operations or is requesting help with asset forfeiture and seizure from personnel assigned to Task Force operations. Contributing Agencies may receive asset forfeiture distributions at the discretion of the Executive Board. Contributing Agencies are not voting members of the Executive Board.

D. Other Agencies: The Federal Drug Enforcement Administration, Parole Division and Colorado National Guard may assign personnel to Task Force operations. The obligations of these agencies are governed by a separate agreement.

5. Purpose: The purpose of this Agreement is to continue the multi-jurisdictional effort of the Task Force operations. All operations through the Task Force will be primarily focused on the following areas:

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A. Covert and overt investigations concerning individuals engaged in illicit criminal activities that affect the Larimer County area, with specific emphasis on drug activity; and

B. The collection, analysis, maintenance, dissemination and storage of drug related intelligence data for the Larimer County area; and

C. Collaboration with the 8th Judicial District Attorney's Office to establish enforcement and prosecution strategies and coordinate the collection and distribution of asset forfeitures : and

D. Participation in community drug prevention and education efforts and selected diversion and rehabilitation programs.

6. Executive Board: The Executive Board shall be comprised of the Chiefs of Police or Sheriff of Contributing, Participating and Managing Agencies or their designees and the District Attorney for the 8th Judicial District, or his designee. The Board shall, at a minimum, meet on a quarterly basis to formulate policy and provide Task Force operational direction. Each Agency shall have one representative on the Board. However, only Managing Agency representatives shall have a vote in the conduct of Task Force business, including but not limited to Task Force policies, procedures, budget approval, and distribution of seizure/forfeiture assets. The Board will also select the Commander by majority vote. The quarterly meetings shall be scheduled and coordinated by the Commander. All motions shall be made in the affirmative and a matter shall be approved if a majority of the Board votes in the affirmative. If a matter fails to obtain a majority, it shall be deemed denied without any further vote.

A. Financial Reports: The Executive Board shall receive a financial report from the Task Force Commander or the Financial Coordinator on a quarterly basis to correspond with Executive Board meetings. The substance of the financial report will be determined by the Executive Board.

B. Conflicting Policies: The Executive Board shall identify and coordinate relevant conflicting polices between the Task Force and the Parties by August 31, 2018. The Executive Board shall direct codification of any guiding principles in the event of a policy conflict, as determined by the Executive Board, in the Task Force policy and procedures manual.

7. Task Force Organization: "Sworn" personnel engaging in operational activities through the Task Force shall have full peace officer authority and arrest powers within Larimer County through Larimer County Sheriffs Office commissions in addition to the authority granted by their home agency. Such personnel shall adhere to rules and regulations as set forth in the Task Force policy and procedures manual, as well as their individual department rules, policies, and procedures.

A. Task Force Commander ("Commander"): Shall manage the operation of the Task Force and serve as the Project Director for the Task Force. The Commander shall supervise the Task Force sergeants. The Commander is authorized to apply for grants and to apply for and distribute or dispose of any forfeited property, through his or her individual agency on behalf of the Task Force, subject to Task Force policies and

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procedures, to be used for purposes related to Task Force operations. The Financial Coordinator shall be appointed by the Commander. The Financial Coordinator shall arrange for the appropriation of grant or other funds as well as to manage contracts for services, purchase orders, and other expenditures through his or her individual agency on behalf of the Task Force, subject to Task Force policies and procedures, to be used for purposes related to Task Force operations. Notwithstanding the foregoing, the Commander shall have no authority to bind a Managing or Participating Agency to the terms and conditions of a grant agreement or other contract except upon the prior, written approval of each individual agency.

B. Task Force Sergeants: Task Force sergeants shall supervise detectives and officers assigned to Task Force operations. Supervision does not include the authority to make personnel decisions, but the Task Force sergeant may communicate with the agency that employs those assigned to Task Force operations regarding that person's conduct and performance during Task Force operations.

C. Detectives and Civilians assigned to Task Force operations: Task Force detectives and civilian personnel assigned to Task Force operations will work as part of a mixed agency team under the supervision and direction of the Commander and sergeants. Task Force detectives and civilian staff will be selected by the Commander and sergeants after completion of a formal interview process conducted in accordance with home agency policy with input from all Managing Agencies. Applicants may be required to successfully complete a drug screen (urinalysis), polygraph examination and financial background investigation (according to the Fair Credit Reporting Act rules and regulations), and an employment background investigation including review of personnel files. The Commander may also remove individuals from participation in Task Force operations with approval of the Executive Board.

D. Nothing contained in this Agreement, and no performance under this Agreement shall in any respect alter or modify the status of officers, agents, or employees of the respective parties for purposes of workers' compensation or their benefits or entitlements, pension, levels or types of training, internal discipline, certification, or rank procedures, methods, or categories, or for any purpose, or other conditions or requirements of employment.

E. All agencies that utilize resources that come about as a result of Task Force operations shall agree to follow the protocols set forth in the Task Force Policy and Procedures Manual. Direct access to the Task Force intelligence system is available to selected members of the Managing Agencies. Direct access to the intelligence system shall not be allowed to a Managing Agency member until the member has been approved by the Commander, has completed the Task Force intelligence training, and agrees to follow the Task Force requirements and protocols governing use of the intelligence system. Participating Agencies are encouraged to access the intelligence system through a Task Force detective or supervisor in accordance with Task Force policy.

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F. In order to maintain consistency in operations, the members of the Task Force shall utilize support services of one agency, as designated by the Executive Board. All evidence collected during Task Force operations will be stored by this designated agency's Property and Evidence section. All police reports and associated paperwork shall be maintained by the designated agency's Records Division. Computer components and systems used for Task Force operations shall be maintained by the designated agency's Information Technology personnel who have cleared a criminal history background check, received approval from the Commander and who are specifically assigned to support the designated agency.

8. Fiscal Management: The Financial Coordinator shall be the financial administrator under the supervision of the Commander. The Financial Coordinator shall be selected by the Commander from the Commander's agency. Financial policies and procedures of the Commander's agency shall govern all financial matters involving the Task Force.

A. Grant Funding: The Commander's agency shall act as the sub-grantee for any state or federal drug grants or awards. The Commander shall act as the project coordinator or manager. Grant match obligations, if any, shall be apportioned among the Managing Agencies according to each agency's proportionate share of personnel under the command structure of the Task Force.

B. Funding Strategy: Essential to the sustainability of the Task Force is a funding strategy that minimizes dependence on federal grant funding. In recognition thereof, each Managing Agency shall fund its own costs incurred in its performance of the Task Force operation (e.g. personnel costs, vehicles, supplies and operating expenses for their respective task force members). Federal and/or state grant awards and project income, which includes monies from seizure/forfeiture awards, court surcharges, restitution, and interest from Task Force operations in the designated agency's reserve accounts, may be used for expenses specific to carrying out daily drug enforcement efforts, including but not limited to confidential funds, off-site lease expenses, a portion of overtime, and other operating expenses not otherwise funded or provided. The Executive Board shall decide on a yearly basis how much, if any, reimbursement, partial or otherwise, for Task Force Operations, will be provided to each Managing, Participating or Contributing Agency. Except as provided herein, no party shall be obligated under this Agreement to pay any sum to any other party or to purchase any equipment or services, or otherwise expend funds.

C. Equipment: Equipment purchased in whole or in part by the designated agency though funds and equipment or vehicles acquired through forfeiture proceedings shall be jointly-owned by all Managing Members according to each agency's proportionate share of personnel under the command structure of the Task Force, and will be inventoried and accounted for using applicable regulations. The maintenance, repair and replacement of any such equipment shall be the responsibility of the Task Force Technical Services Detective. In the event the Task Force is disbanded in its entirety, such equipment will be distributed pursuant to this Agreement. If an agency terminates participation pursuant to

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paragraph 9. below, any such equipment will be retained by all then existing Managing Members.

D. Joint Use and Operation: Equipment, including but not limited to computers, hardware and software, vehicles, pagers, cell phones, and any other equipment owned by an agency that is used, or has been made available for use by for Task Force operations, shall remain the property of said agency. All maintenance, replacements and repairs of such equipment shall be the responsibility of that agency. The server for the Task Force shall be housed at the FCPS building, unless otherwise designated by the Executive Board. The server houses the Task Force Intelligence System, and under federal law, the server must be secure and "physically and operationally separate and distinct from all other automated data systems". Only those authorized by the Commander can have access to repair or otherwise perform maintenance and back up services upon it.

E. Task Force Asset Forfeiture Distributions: The Commander shall be the signatory for the Executive Board to dispose of forfeited property. In addition to the requirements, rules and regulations of any particular grant award, the Task Force policy and procedure manual shall govern asset forfeitures. Further, any revenue or assets generated through forfeiture actions initiated by or processed through Task Force operations shall be distributed to the Managing Agencies based on formulas agreed upon by the Executive Board. However, when an asset forfeiture results from Task Force activity, the federal match percentage, if any, of such asset forfeiture shall first be placed directly into the designated agency's account before any distribution under this paragraph is made. All Managing Agency seizures shall go into the designated agency's account to be used for purposes directly related to Task Force operations. Whether or not a distribution is made is solely at the discretion of the Executive Board and no agency shall have an expectation of distribution for any year this Agreement is in effect. However, a distribution as discussed in this section is distinct from expenses related to the daily drug enforcement efforts discussed in paragraph (B) above.

F. Equitable Sharing/Seizures: All federal and state equitable sharing/seizure amounts any Managing Agency is eligible to receive, shall be designated to the Commander's agency. The Commander's agency shall act as a pass through and ensure that all such equitable sharing/seizure amounts are distributed to Managing Members for Task Force operations as authorized under this Agreement. Once such funds/property have been forwarded to the Task Force, they shall be controlled and distributed according to this Agreement.

G. Compliance with Guidelines: The Commander's agency shall be responsible for compliance with all applicable federal agency guidelines regarding the use and management of equitable sharing dollars.

9. Voluntary Change of Membership Level: It is agreed that participating in the Task Force is voluntary, and that in the event a Managing or Participating Agency wishes to change its

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level of participation in the Task Force, said agency shall notify the Commander not less than thirty (30) days prior to the anticipated change. The Commander shall inform the members of the Executive Board promptly after receiving such notice. An agency changing from Managing to Participating Agency, shall have no claim of ownership over any assets purchased in whole or in part through grant funding or the designated agency's funds held for Task Force operations, equipment or vehicles acquired through forfeiture proceedings, nor of any asset forfeiture proceeds which have been applied for, but have not yet been distributed at the time of the notice. All such assets, equipment, vehicles and forfeiture proceeds shall be retained by the then existing Managing Agencies. Change in participation level pursuant to this section shall not relieve a Party of its obligations incurred up to the change date. Any Participating Agency that wishes to become a Managing Agency shall notify the Commander and provide the Executive Board with a proposal regarding personnel that they will assign under the command of the Task Force. The change in membership status is not effective until approved by the Executive Board.

10. Indemnification: The Parties acknowledge that each are governmental entities that may not be permitted under current Colorado law to indemnify another entity, and further acknowledge that each party's agreement to indemnify the other is limited by applicable constitutions, statutes and case law. As such, to the extent expressly authorized by law, and consistent with the requirements of the Colorado Governmental Immunity Act (C.R.S. Section 24-10-101, et seq.), the Parties hereby indemnify and hold harmless the others from any loss, liability or damage, including attorneys' fees that each party may incur arising out of any negligent acts or omissions of the others in performing its duties under this Agreement. No term or condition in this Agreement shall constitute a waiver of any provision of the Colorado Governmental Immunity Act.

11. Liability: The Parties hereto agree that during the time that a Managing Agency or Contributing Agency is working Task Force operations under this Agreement, any liability which accrues under the provisions of the Colorado Governmental Immunity Act, C.R.S. Section 24-10-101, et seq., on account of a negligent or other tortious act or omission while performing Task Force duties shall be imposed upon the agency assigning such personnel to Task Force operations. Each Participating Agency, to the extent permitted by federal and state law, shall be liable for the acts or omissions of its respective personnel. Nothing herein shall be deemed a waiver of the notice requirements, defenses, immunities and limitations of liability that the Parties and their respective officers and employees may have under the Colorado Governmental Immunity Act (C.R.S . Section 24-10-101, et seq.) and under any other law.

A. Each party, to the extent permitted by law, waives all claims and causes of action against the other party for compensation, damages, personal injury or death occurring as a consequence, direct or indirect, of the performance of this Agreement. Each party shall be responsible for any worker's compensation claims filed by its respective personnel arising from injuries sustained as a result of performance under this Agreement within the course and scope of their employment.

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12. Contingencies: This Agreement and obligations of the Parties hereunder are expressly contingent upon each respective governmental entity's budgeting and appropriating the funds necessary to fulfill that Party's obligations hereunder.

13. No Third Party Beneficiaries: This Agreement is made for the sole and exclusive benefit of the Parties hereto and shall not be construed to be an agreement for the benefit of any third party or parties and no third party shall have a right of action hereunder for any cause whatsoever.

14. Waiver: No waiver by any of the Parties hereto of any of the terms and conditions of this Agreement shall be deemed to be or be construed as a waiver of any other term or condition of this Agreement, nor shall a waiver of any breach of this Agreement be deemed to constitute a waiver of any subsequent breach of the same provision of this Agreement.

15. Severability: If any provision of this Agreement, or the application of such provision to any person, entity or circumstance, shall be held invalid, the remainder of this Agreement, or the application of such provision to persons, entities, or circumstances other than those in which it is held invalid, shall not be affected thereby.

16. Force Majeure: Notwithstanding anything contained herein to the contrary, it is agreed that in the event and to the extent that fire, flood, earthquake, natural catastrophe, explosion, accident, war, illegality, act of God, or any other cause beyond the control of any of the Parties hereto, or strikes and labor troubles (whether or not within the power of the party affected to settle the same) prevents or delays performance by any party to this Agreement, such party shall be relieved of the consequences thereof without liability, so long as and to the extent that performance is prevented by such cause; provided, however, that such party shall exercise due diligence in its efforts to resume performance within a reasonable period of time.

18. Authority: The persons who sign and execute this Agreement represent that they are duly authorized to execute this Agreement in their individual or representative capacity.

19. Binding Effect: The Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective successors and assigns.

20. Counterpart Signatures: The Parties agree that counterpart signatures of this Agreement shall be acceptable and that execution of the Agreement in the same form by each and every party shall be deemed to constitute full and final execution of the Agreement.

21. Law Enforcement Authorization: To the extent any parties to this Agreement (Managing, Participating or Contributing) are also signatories to the February 10, 2015 "Agreement for Law Enforcement Authorization", an officer's assignment to the Task Force shall constitute notice as required by Section 4(A) of the "Agreement for Law Enforcement Authorization" and no further notice shall be necessary as long as the officer remains assigned to the Task Force.

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22. Dissolution: Upon a majority vote of the Executive Board and approval by each agency's Chief of Police or Sheriff, the Task Force may be completely dissolved. Upon dissolution, any assets, equipment or funds shall be distributed as follows:

2018 and 2019: If the Task Force is dissolved in 2018 or 2019, up to $900,000.00 of any equipment, assets or funds shall be distributed to the City of Fort Collins and the City of Loveland, with sixty percent (60%) being distributed to the City of Fort Collins and forty percent ( 40%) being distributed to the City of Loveland. All amounts above $900,000.00 shall be distributed between Managing Agencies in proportion to each agency's contribution of full-time personnel over the previous two (2) years.

2020 and beyond: If the Task Force is dissolved any time after December 31, 2019, ninety percent (90%) of equipment, assets and funds shall be distributed equally to the Managing Agencies. The remaining ten percent ( 10%) shall be distributed to the Participating Agencies based upon the resources provided to Task Force operations.

23. Initial Transition of Funds: The parties acknowledge that this Agreement is replacing the previous Agreement controlling the structure and operations of the Task Force. As such, the Task Force currently has reserves in the amount of $918,053.00. In order to comply with federal rules, the parties agree that all Task Force reserve funds shall be transferred to the Commander's Agency on or before January 1, 2018, and all such funds shall be held in trust by the Commander's Agency in an account separate from all other funds until a new Task Force account can be established by the Commander's Agency. Once a new Task Force account, managed by the Commander's Agency, is established and approved by the Executive Board, all reserve funds shall be transferred into the new Task Force account managed by the Commander's Agency to be used for Task Force operational purposes. Except as restricted in this provision, nothing in this provision shall limit or restrict the Executive Board and Commander from spending funds as necessary under this agreement while this transition occurs. Once the Commander's Agency receives the reserve funds, $100,000.00 shall be frozen and may not be spent by the Executive Board, Commander, Commander's Agency or otherwise by the Task Force. This $100,000.00 shall be frozen until June 1, 2018 at which time, or earlier in 2018, the Executive Board shall consider whether the $100,000.00 shall be distributed to the City of Fort Collins and City of Loveland pursuant to the distribution proportions of the June 17, 2009 Intergovernmental Agreement regarding the Northern Colorado Drug Task Force, or whether the minimum reserve fund shall be increased from $800,000.00 to $900,000.00 and no distribution shall occur. If no decision is made by the Executive Board regarding the frozen $100,000.00 by January 1, 2019, the funds shall be unfrozen and available for use as all other Task Force funds and no further restrictions under this provision shall be placed on the $100,000.00.

IN WITNESS WHEREOF, officers, deputies and agents from the several state and local law enforcement agencies have combined to form the Northern Colorado Drug Task Force, have agreed to the terms and conditions herein and that the parties have caused this Agreement to be executed by each party's duly authorized representatives as set forth below.

10

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Signed and executed the {)~ day of [jJ C~ .201_.

CITY OF FORT COLLINS. COLORADO

Darin A. Atteberry. City Manager

__,,.,,, .. .,.,, Interim Chief of Police

APPRO~~

Bronwyn Scurlock, Assistant City Attorney

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/-7-;g Date

Approved as to Form

12

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Loveland Police Department

J-3·Z0/9 Stephen C. Adams, City Manager Date

Robert Ticer, Chief, Loveland Po lice Department Date

~ -~·-· Appro~

Assista~

Attest:

13

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RE-AFFIRMING AND RATIFYING AN INTERGOVERNMENTAL AGREEMENT DATED

JANUARY 7, 2018 REGARDING THE NORTHERN COLORADO DRUG TASK FORCE

Signed and executed this day of , 2019, Nunc pro tunc

(January 7, 2018).

TOWN OF WINDSOR, COLORADO

WINDSOR POLICE DEPARTMENT

By:

Rick Klimek, Chief of Police


Kimberly Emil, Assistant Town Attorney

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MEMORANDUMDate: June 10, 2019To: Mayor and Town BoardVia: Shane Hale, Town ManagerFrom: Dean Moyer, Director of FinanceRe: Report of BillsItem #: B.5.

ATTACHMENTS:

Report of Bills May 2019

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MEMORANDUMDate: June 10, 2019To: Mayor and Town BoardVia: Shane Hale, Town ManagerFrom: Dean Moyer, Director of FinanceRe: 2018 Independent Audit ReportItem #: C.1.

Background / Discussion: Randy Watkins of ACM, our independent audit firm, will be present at tonight's Town Board meeting to present theannual audit report for 2018. Enclosed are both the audit report itself and an audit wrap document summarizingpertinent information.The next action item on the agenda is a resolution adopting the report presented here this evening.

ATTACHMENTS:

2018 Audit Wrap Report2018 Audit Report

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Town of Windsor, Colorado

Audit Wrap Up June 10, 2019

This presentation was prepared as part of our audit, has consequential limitations, is restricted to those charged with governance and, if

appropriate, management, and is not intended and should not be used by anyone other than those specified parties.

DATE

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June 10, 2019

To the Honorable Mayor and Town Board of Directors Town of Windsor, Colorado 301 Walnut Street Windsor, Colorado 80550 Professional standards require us to communicate with you regarding matters related to the audit, that are, in our professional judgment, significant and relevant to your responsibilities in overseeing the financial reporting process. We presented an overview of our plan for the audit of the financial statements of the Town of Windsor, Colorado (the “Town”) as of and for the year ended December 31, 2018, including a summary of our overall objectives for the audit, and the nature, scope, and timing of the planned audit work. This communication is intended to elaborate on the significant findings from our audit, including our views on the qualitative aspects of the Town’s accounting practices and policies, management’s judgments and estimates, financial statement disclosures, and other required matters. We are pleased to be of service to the Town and look forward to meeting with you to discuss our audit findings, as well as other matters that may be of interest to you, and to answer any questions you might have. Respectfully,

Anton Collins Mitchell LLP

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2 AUDIT WRAP-UP – DECEMBER 31, 2018

Discussion Outline Page Discussion Outline ..................................................................................................... 2

Status of Our Audit .................................................................................................... 3

Results of Our Audit ................................................................................................... 4

Internal Control Over Financial Reporting ........................................................................ 6

Other Required Communications ................................................................................... 7

Independence Communication ...................................................................................... 8

GASB Standards Effective in 2018 -2020 ........................................................................... 9

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3 AUDIT WRAP-UP –DECEMBER 31, 2018

Status of Our Audit We have substantially completed our audit of the financial statements as of and for the year ended December 31, 2018. Our audit was conducted in accordance with auditing standards generally accepted in the United States of America. This audit of the financial statements does not relieve management or those charged with governance of their responsibilities. The objective of our audit was to obtain reasonable - not absolute - assurance about whether the

financial statements are free from material misstatements.

The scope of the work performed was substantially the same as that described to you in our earlier Audit Planning communications.

We expect to issue an unmodified opinion on the financial statements.

Our responsibility for other information in documents containing the Town’s audited financial statements does not extend beyond the financial information identified in the audit report, and we are not required to perform procedures to corroborate such other information. However, in accordance with professional standards, we have read the information included by the Town and considered whether such information, or the manner of its presentation, was materially inconsistent with its presentation in the financial statements. Our responsibility also includes calling to management’s attention any information that we believe is a material misstatement of fact. We have not identified any material inconsistencies or concluded there are any material misstatements of facts in the other information that management has chosen not to correct.

All records and information requested by ACM LLP were freely available for our inspection.

Management’s cooperation was excellent. We received full access to all information that we requested while performing our audit, and we acknowledge the full cooperation extended to us by all levels of Town personnel throughout the course of our work.

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Results of Our Audit ACCOUNTING PRACTICES, POLICIES, AND ESTIMATES The following summarizes the more significant required communications related to our audit concerning the Town’s accounting practices, policies, and estimates: The Town’s significant accounting practices and policies are those included in Note 1 to the financial statements. These accounting practices and policies are appropriate, comply with generally accepted accounting principles and industry practice, were consistently applied, and are adequately described within Note 1 to the financial statements. Significant estimates are those that require management’s most difficult, subjective, or complex judgments, often as a result of the need to make estimates about the effects of matters that are inherently uncertain. The Town’s significant accounting estimates, including a description of management’s processes and significant assumptions used in development of the estimates, are disclosed in Note 1 of the financial statements.

Management did not make any significant changes to the processes or significant assumptions used to develop the significant accounting estimates in 2018.

Primary Areas of Focus and Considerations and Findings

Revenue Recognition: The Town receives revenues from numerous sources, the more significant of which are property taxes, sales taxes, intergovernmental grans and contributions, and charges for services. The Town records revenues when earned. Property taxes are recognized as revenues in the year for which they’re levied. Grants and similar items are recognized as soon as all eligibility requirements imposed by the provider have been met. We have evaluated the accounting and financial reporting for these transactions to ensure proper recognition and measurement.

Accounts Receivable and Allowances: Accounts receivable are required to be evaluated for collectability in order to determine that they are properly valued in the Town’s financial statements. We have evaluated management’s estimate of the collectability of balances due from other governments, and customers, and found them to be reasonable and appropriate for the circumstances.

Capital Assets and Depreciation: Capital assets of the Town continue to be a significant area of the Town’s financial statements. Accordingly, as part of the audit, we paid particular attention to the costs of newly acquired assets, repairs and maintenance expenditures on existing capital assets, and the depreciation expense of these assets.

Capital Lease Obligations: The Town currently has outstanding bonds and loans payable, including premiums, totaling approximately $18.7 million in the governmental activities and approximately $9.2 million in the business-type activities. Accordingly, we have applied certain procedures over balances, future maturities, accrued interest, amortized premiums and deferred charges, along with compliance with individual agreements. It appears that the Town is properly accounting for these obligations.

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Pension Reporting: The Town has a defined benefit plan administered by the Fire and Police Pension Association of Colorado (“FPPA”). The FPPA plan is a cost-sharing, multiple-employer defined benefit plan. As such, the Town has reported their proportionate share of the collective amounts for the plan as a whole. In addition, changes in net pension asset/liability were recognized as pension expense or

reported as deferred outflows/inflows of resources depending on the nature of change.

Evaluation of Going Concern: No going concern issues were noted during our audit.

Evaluation of Estimates: Estimates were determined to be reasonable, and free of bias.

Results of Our Audit CORRECTED AND UNCORRECTED MISSTATEMENTS Please refer to the schedule of corrected misstatements or Adjusting Journal Entries (“AJEs”). Please refer to the schedule of uncorrected misstatements or Passed Adjusting Journal Entries (“PAJEs”). QUALITY OF THE TOWN’S FINANCIAL REPORTING A discussion was held regarding the quality of the Town’s financial reporting, which included the following: Qualitative aspects of significant accounting policies and practices

Our assessment of critical accounting policies and practices

Our conclusions regarding significant accounting estimates

Significant unusual transactions

Financial statement presentation

New accounting pronouncements

Alternative accounting treatments

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Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, we considered the Town’s internal control over financial reporting (internal control) as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Town’s internal control. Accordingly, we do not express an opinion on the effectiveness of the Town’s internal control. Our consideration of internal control was for the limited purpose described above and was not designed to identify all deficiencies in internal control that might be significant deficiencies or material weaknesses. We are required to communicate, in writing, to those charged with governance all material weaknesses and significant deficiencies that have been identified in the Town’s internal controls over financial reporting. The definitions of control deficiency, significant deficiency and material weakness follow: Category Definition

Deficiency in 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.

Significant Deficiency A deficiency or 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.

Material Weakness

A deficiency or combination of deficiencies in internal control, such that there is a reasonable possibility that a material misstatement of the Town’s financial statements will not be prevented, or detected and corrected on a timely basis.

In conjunction with our audit of the financial statements, we noted no material weaknesses. However, material weaknesses may exist that have not been identified.

Control Deficiency Comments

Credit card review and approval

During our testing of credit card transactions, ACM noted that a number of the selected transactions were not appropriately reviewed and approved by the supervisor. Although the Town has mitigating controls where all checks are reviewed by the Finance Manager, ACM recommends that all transactions be reviewed and approved by supervisors in line with the Town Policy.

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Other Required Communications Following is a summary of those required items, along with specific discussion points as they pertain to the Town:

Requirement Discussion Points

Significant changes to planned audit strategy or significant risks initially identified

There were no significant changes to the planned audit strategy or significant risks initially identified and previously communicated to those charged with governance as part of our Audit Planning communications.

Obtain information from those charged with governance relevant to the audit

There were no matters noted relevant to the audit, including, but not limited to: violations or possible violations of laws or regulations; risk of material misstatements, including fraud risks; or tips or complaints regarding the Town’s financial reporting that we were made aware of as a result of our inquiry of those charged with governance.

If applicable, nature and extent of specialized skills or knowledge needed related to significant risks

There were no specialized skills or knowledge needed, outside of the core engagement team, to perform the planned audit procedures or evaluate audit results related to significant risks.

Consultations with other accountants

We are not aware of any consultations about significant accounting or auditing matters between management and other accountants where we have identified a concern regarding such matters.

Our evaluation of the Town’s relationships and transactions with related parties and their impact on the financial statements

We have evaluated the Town’s process to identify, authorize and approve, account for, and disclose its relationships and transactions with related parties and noted no significant issues.

Disagreements with management There were no disagreements with management about matters, whether or not satisfactorily resolved, that individually or in aggregate could be significant to the Town’s financial statements or to our auditor’s report.

Significant difficulties encountered during the audit

There were no significant difficulties encountered during the audit.

If applicable, other matters significant to the oversight of the Town’s financial reporting process, including complaints or concerns regarding accounting or auditing matters

There are no other matters that we consider significant to the oversight of the Town’s financial reporting process that have not been previously communicated.

Representations requested from management

Please refer to the management representation letter.

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Independence Communication Our engagement letter to you dated November 13, 2018 describes our responsibilities in accordance with professional standards and certain regulatory authorities with regard to independence and the performance of our services. This letter also stipulates the responsibilities of the Town with respect to independence as agreed to by the Town. Please refer to that letter for further information.

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GASB Standards Effective in 2018 -2020 GASB STATEMENT NO. 75, ACCOUNTING AND FINANCIAL REPORTING FOR POSTEMPLOYMENT BENEFITS OTHER THAN PENSIONS

Establishes measurement criteria for the Other Postemployment Benefits (OPEB) liability of state and local governments and mirrors the requirements of GASB 68.

For plans administered through trust governments must recognize the net OPEB liability. For plans not administered through trust the government must recognize the total OPEB liability. The pronouncement will be effective starting with years ending June 30, 2018.

GASB STATEMENT NO. 83, CERTAIN ASSET RETIREMENT OBLIGATIONS

Establishes measurement criteria for recording a liability for the retirement or removal of certain assets such as: Nuclear power plants Sewage treatment facilities Coal-fired power plant Wind turbines X-ray machines

Governments with legal obligations to perform future asset retirement activities related to its tangible capital assets would be required to recognize a liability.

A liability and corresponding deferred outflow is recorded when the liability is both incurred and reasonable estimable.

The liability is based on best estimate of current value of outlays expected to be incurred. Must be both an external obligating event, such as a court judgment or federal, state or local law;

and an internal obligating event, such as contamination or retirement. The pronouncement will be effective starting with years ending June 30, 2019.

GASB STATEMENT NO. 84, FIDUCIARY ACTIVITIES

Establishes criteria for reporting fiduciary activities that focuses on whether the government controls the assets and the fiduciary relationship with the beneficiaries.

The statement describes four fiduciary funds: 1. Pension and OPEB funds 2. Investment trust funds 3. Private-purpose trust funds 4. Custodial funds

Custodial funds replace agency funds for activities that are not held in trust. For activities for which a trust agreement exists, an investment trust fund or private purpose trust

fund will be used. Pension funds not held in trust would be classified as custodial funds. The pronouncement will be effective starting with years ending December 31, 2019.

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GASB Standards Effective in 2018 -2020 GASB STATEMENT NO. 85, OMNIBUS 2017

Addresses several practice issues that have been identified during implementation of certain GASB Statements: 1. Blending a component unit when the primary government is a business-type activity that reports

in a single column. 2. Reporting amounts previously reported as goodwill and negative goodwill. 3. Classifying real estate held by insurance entities. 4. Measuring certain money market instruments at amortized cost. 5. Timing of the measurement of pension or OPEB liabilities and expenditures in governmental fund

financial statements. 6. Recognizing on-behalf payments for pensions or OPEB in employer financial statements. 7. Presenting payroll-related measures in RSI for OPEB plans and employers that provide OPEB. 8. Classifying employer-paid member contributions for OPEB. 9. Simplifying certain aspects of the alternative measurement method for OPEB. 10. Accounting and reporting for OPEB provided through certain multiple-employer defined benefit

OPEB plans.

The pronouncement will be effective starting with years ending June 30, 2018. GASB STATEMENT NO. 86, CERTAIN DEBT EXTINGUISHMENT ISSUES

Resolves issue of how to record in-substance defeasance of debt when solely existing resources are used.

Current standards only address reporting requirements when debt is extinguished using bond proceeds.

When cash or other existing resources are placed in an irrevocable trust to extinguish debt it is considered to be in-substance defeasance, assuming all criteria are met.

The difference between the reacquisition price and the net carrying amount of the debt will be recognized as a separately identified gain or loss in the period of defeasance. This differs from current practice when debt is extinguished using bond proceeds, whereby the difference is deferred.

Payments to the escrow agent from existing resources should be reported as debt service expenditures in governmental fund types.

The pronouncement will be effective starting with years ending June 30, 2018.

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GASB Standards Effective in 2018 -2020 GASB STATEMENT NO. 87, LEASES

This standard will require recognition of certain lease assets and liabilities for leases that are currently classified as operating leases.

Eliminates the distinction between operating and capital leases - all leases will be recorded on the statement of net position/balance sheet.

• New definition of a lease - a contract that conveys the right to use another entity’s nonfinancial asset for a period of time in an exchange or exchange-like transaction.

Excludes leases that transfer ownership under a bargain purchase option or service concession

arrangements that are covered by GASB Statement No. 60.

Lessees would recognize a lease liability and an intangible right-to-use lease asset which would be amortized in a systematic and reasonable manner over the shorter of the lease term or the useful life of the underlying asset. Short-term leases are excluded.

Lessor would recognize lease receivable and deferred inflow of resources which would be recognized as revenue in a systematic and rational manner over the term of the lease.

The pronouncement will be effective starting with years ending December 31, 2020.

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AJEYear End: December 31, 2018 Started by Completed by Detail Review

Trial Balance - Summary ALH 4/13/2019 ALH 4/13/2019

Date: 1/1/2018 To 12/31/2018 General Review Director Partner

Account No: 1 To 99 RLW 5/27/2019

Number Date Name Account No Reference Debit Credit Net Income (Loss) Amount Chg Recurrence Misstatement

Net Income (Loss) Before Adjustments 32,912,085.00

3 12/31/2018 FUND BALANCE 02-000-3271-000 2 WW LEAD 2.00

3 12/31/2018 NEIGHBORHOOD PARK FEES 02-000-4387-000 2 WW LEAD 2.00


3 12/31/2018 GRANT ADMIN.SERVICES/GW TRAIL03-454-6274-464 3 WW LEAD 2.00


3 12/31/2018 TRASH SERVICE 05-490-6224-000 5 WW LEAD 1.00


3 12/31/2018 OFFICE SUPPLIES 06-471-6210-000 6 WW LEAD 2.00








3 12/31/2018 DUES/FEES/SUBSCRIPTIONS 16-495-6217-000 16 WW LEAD 1.00



Entry to tru up rounding variance Factual

in fund balance.

15.00 15.00 32,912,082.00 (3.00 )

4 12/31/2018 LAND 19-000-1160-000 19 WW LEAD 10,000.00

4 12/31/2018 FUND BALANCE 19-000-3271-000 19 WW LEAD 10,000.00

To record 105 not booked in

prior year to true up fund balance and

Capital Assets.

10,000.00 10,000.00 32,912,082.00 0.00

5 12/31/2018 LOAN RECEIVABLE 06-000-1164-000 6 WW LEAD 45,000.00

5 12/31/2018 CURRENT PORTION - LT DEBT/NP 06-000-2000-484 6 WW LEAD 17,964.00

5 12/31/2018 LOANS PAYABLE/NON-POTABLE 06-000-2264-484 6 WW LEAD 34,008.00

5 12/31/2018 FUND BALANCE 06-000-3271-000 6 WW LEAD 96,972.00

To book client entries 102 and 103

not booked in prior year.

96,972.00 96,972.00 32,912,082.00 0.00

6/3/2019

7:15 AM Page 1

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AJE-1Year End: December 31, 2018 Started by Completed by Detail Review



Account No: 1 To 99 RLW 5/27/2019


6 12/31/2018 CURRENT PORTION - LT DEBT 07-000-2000-000 7 PP.02 5,948.00

6 12/31/2018 LOANS PAYABLE 07-000-2264-000 7 PP.02 196,268.00

6 12/31/2018 PRINCIPAL EXPENSE/REVOLVE LOAN07-482-7354-000 7 PP.02 190,320.00

Entry to true up Debt and current Factual

maturities in Sewer Fund.

196,268.00 196,268.00 33,102,402.00 190,320.00

7 12/31/2018 LOANS PAYABLE 16-000-2264-000 16 PP.02 188,158.00

7 12/31/2018 PRINCIPAL EXPENSE/LOAN 16-495-7350-000 16 PP.02 188,158.00

Entry to true up debt in the WBA Factual

fund.

188,158.00 188,158.00 33,290,560.00 188,158.00

491,413.00 491,413.00 33,290,560.00 378,475.00

6/4/2019

3:30 PM Page 2

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PAJEYear End: December 31, 2018 Started by Completed by Detail Review



RLW 5/27/2019

Proposed Proposed


Net Income (Loss) 33,377,782.00

2 12/31/2018 ACCRUED INTEREST PAYABLE/NP 06-000-2240-484 6 PP.02 83,942.00

2 12/31/2018 BOND INTEREST EXPENSE 06-484-7321-485 6 PP.02 83,942.00

Entry to true up Accrued interest

expense.

83,942.00 83,942.00 33,293,840.00 (83,942.00 )

9 12/31/2018 PROPERTY TAX 01-000-4311-000 1 10.15 20,382.00

9 12/31/2018 COUNTY ROAD & BRIDGE TAX 01-000-4332-000 1 10.15 23,967.00

9 12/31/2018 MISCELLANEOUS EXPENSE 01-411-6269-000 1 10.15 44,349.00

Town is recording some rebates as

a reduction to revenue instead of the gross

amount for the revenue and the expense.

44,349.00 44,349.00 33,293,840.00 0.00

128,291.00 128,291.00 33,293,840.00 (83,942.00 )

6/3/2019

7:16 AM Page 1

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2018 COMPREHENSIVE ANNUAL

FINANCIAL REPORT For the period ending December 31, 2018

301 Walnut St. | Windsor, CO 80550 | 970-674-2400 | windsorgov.com

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TOWN OF Windsor, Colorado

COMPREHENSIVE ANNUAL FINANCIAL REPORT For the fiscal year ended

December 31, 2018

REPORT ISSUED BY: DEPARTMENT OF FINANCE DEAN MOYER, DIRECTOR

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i

TOWN OF WINDSOR, COLORADOCOMPREHENSIVE ANNUAL FINANCIAL REPORT

December 31, 2018

TABLE OF CONTENTS

Section Page

INTRODUCTORY SECTION ...................................................................................................................... i

Table of Contents ............................................................................................................................... i-iii Letter of Transmittal – Director of Finance ......................................................................................... v-vii Government Finance Officers Association Certificate of Achievement................................................ viii Town Officials ........................................................................................................................................ ix Organizational Chart ................................................................................................................................. x

FINANCIAL SECTION ............................................................................................................................... 1

Independent Auditor’s Report ........................................................................................................... 1-2 Management’s Discussion and Analysis .......................................................................................... 5-16

BASIC FINANCIAL STATEMENTS ........................................................................................................... 17

Government-Wide Financial Statements:

Statement of Net Position .................................................................................................... 19 Statement of Activities ................................................................................................... 20-21

Fund Financial Statements:

Governmental Fund Financial Statements: Balance Sheet – Governmental Funds .......................................................................... 22 Reconciliation of the Governmental Funds Balance Sheet with the Government-Wide

Statement of Net Position ....................................................................................... 23 Statement of Revenues, Expenditures and Changes in Fund Balances –

Governmental Funds .............................................................................................. 24 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and

Changes in Fund Balances with the Government-Wide Statement of Activities .. 25 Proprietary Fund Financial Statements:

Statement of Net Position – Proprietary Funds ............................................................ 26 Statement of Revenues, Expenses and Changes in Net Position –

Proprietary Funds ................................................................................................... 27 Statement of Cash Flows - Proprietary Funds .............................................................. 28

Notes to Financial Statements ............................................................................................... 29-52

REQUIRED SUPPLEMENTARY INFORMATION GENERAL FUND BUDGETARY COMPARISON SCHEDULE COMMUNITY RECREATION CENTER EXPANSION FUND BUDGETARY COMPARISON SCHEDULE SCHEDULE OF THE TOWN’S PROPORTIONATE SHARE OF NET PENSION ASSET SCHEDULE OF TOWN’S CONTRIBUTIONS ................................................................................... 53

General Fund – Budgetary Comparison Schedule .............................................................. 54 Community Recreation Center Expansion Fund – Budgetary Comparison Schedule ........ 55 Note to Budgetary Comparison Schedules .......................................................................... 56 Schedule of the Town’s Proportionate Share of the Net Pension Liability/(Asset) ............ 57 Schedule of the Town’s Contributions ................................................................................ 58

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ii

TOWN OF WINDSOR, COLORADO COMPREHENSIVE ANNUAL FINANCIAL REPORT

December 31, 2018

OTHER SUPPLEMENTARY INFORMATION COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES ....................................... 59

Non-major Governmental Funds:

Combining Balance Sheet ............................................................................................. 60 Combining Statement of Revenues, Expenditures and Changes in Fund Balance ........ 61 Budgetary Comparison Schedules:

Capital Improvement Fund ............................................................................................ 62 Park Improvement Fund ................................................................................................ 63 Community Recreation Center Fund ............................................................................. 64 Conservation Trust Fund ............................................................................................... 65 Water Fund .................................................................................................................... 66 Sewer Fund .................................................................................................................... 67 Storm Drainage Fund .................................................................................................... 68

Combining Fund Statements – Internal Service Funds:

Combining Statement of Net Position ........................................................................... 69 Combining Statement of Revenues, Expenses and Changes in Net Position ............... 70 Combining Statement of Cash Flows ............................................................................ 71

Budgetary Comparison Schedules – Internal Service Funds:

Information Technology Fund ....................................................................................... 72 Fleet Management Fund ................................................................................................ 73 Windsor Building Authority Fund ................................................................................. 74 Facility Services Fund ................................................................................................... 75 OTHER FINANCIAL INFORMATION ................................................................................................... 77

Debt Service Requirements:

Governmental Activities – Sales and Use Tax Revenue Refunding Bonds for Community Recreation Center and Expansion .................................................................................. 79-80 Governmental Activities – USDA Community Facilities Loan for Police Facility ....................... 81 Business-type Activities – CWCB Loans for Kern Reservoir ....................................................... 82 Business-type Activities – CWR&PDA Loan for Sewer Fund WWTP ........................................ 83 Business-type Activities – CWCB Loan for Kyger Reservoir....................................................... 84

Local Highway Finance Report ...................................................................................................... 85-86 STATISTICAL SECTION .......................................................................................................................... 87

Financial Trends: Net Position by Component ........................................................................................................... 89 Changes in Net Position ........................................................................................................... 90-92 Fund Balances of Governmental Funds ......................................................................................... 93 Changes in Fund Balances of Governmental Funds ...................................................................... 94

Revenue Capacity:

Governmental Tax Revenue by Source ......................................................................................... 95 Sales Tax Collections by Category (Sample Accounts 2006-2014) .............................................. 96 Principal Sales Tax Categories ...................................................................................................... 97 Direct and Overlapping Sales Tax Rates ....................................................................................... 98

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iii


December 31, 2018

Assessed and Estimated Actual Value of Taxable Property…………………………………… 99 Property Tax Levies and Collections .......................................................................................... 100

Property Tax Rates – Direct and Overlapping Governments ............................................... 101-102 Principal Property Taxpayers ...................................................................................................... 103

Debt Capacity:

Computation of Legal Debt Margin ............................................................................................ 104 Ratio of Total Debt Service Expenditures to Noncapital Governmental Expenditures .............. 105 Ratio of Outstanding Debt by Type ............................................................................................ 106 Ratio of Annual Debt Service for General Bonded Debt to Total General Expenditures ........... 107 Bonds Coverage .......................................................................................................................... 108 Computation of Direct and Overlapping Activities Debt ............................................................ 109

Demographic and Economic Information:

Building Permits and Value of Construction .............................................................................. 110 Demographic Statistics ............................................................................................................... 111 Top 10 Principal Employers ....................................................................................................... 112

Operating Information:

Full-time Equivalent Employees by Function / Program ............................................................ 113 Operating Indicators by Function / Program ............................................................................... 114 Capital Asset Statistics by Function / Program ........................................................................... 115

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iv

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May 31, 2019

Citizens of Windsor, Colorado, Honorable Mayor, Town Board Members, and Town Manager The Comprehensive Annual Financial Report (“CAFR”) of the Town of Windsor, Colorado (the “Town”), for the fiscal year ended December 31, 2018, is hereby submitted. The report was prepared by the Town’s Finance Department. Responsibility for the accuracy, completeness, and fairness of the presentation, including all disclosures, rests with the Town. To the best of our knowledge and belief, the enclosed data is accurate in all material respects and is reported in a manner designed to fairly present the financial position and changes in financial position of the Town, on a Government-wide and Fund basis. All disclosures necessary to enable the reader to gain an understanding of the Town’s financial activities have been included. The Town’s financial statements have been audited by Anton Collins Mitchell LLP, a firm of licensed certified public accountants. The goal of the independent audit was to provide reasonable assurance that the financial statements of the Town for the year ended December 31, 2018 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 Town’s financial statements for the year ended December 31, 2018 are fairly presented in conformity with accounting principles generally accepted in the United States of America. The independent auditor’s report is presented as the first component of the financial section of this report. Profile of the Town

The Town incorporated in 1890, and adopted its Home Rule Charter in 2003 providing for a Board-Manager form of government. Windsor is situated midway between the state capitals of Denver, Colorado and Cheyenne, Wyoming. Windsor is located along the northern Front Range of Colorado in western Weld County and eastern Larimer County. Windsor’s city limits extend west to Interstate 25, a major north-south regional highway corridor, and the major cities surrounding Windsor include Greeley, Loveland, and Fort Collins. The population of the Town is approximately 26,000. The Town provides general government, police services, public records, cultural programs, museums, recreational programs, sports facilities, parks, trails and open space, forestry services, a brush recycling center and a cemetery. The Town’s development services include planning, building inspections, and code enforcement. Administrative services include management, human resources, finance and information technology. The Town supplies potable and non-potable water, sewer, and storm sewer services, but electricity, gas and trash service are provided by private companies.

301 Walnut Street ∙ Windsor, Colorado ∙ 80550 ∙ phone 970-674-2400 ∙ fax 970-674-2456

www.windsorgov.com

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The Town maintains budgetary controls, the objective of which is to ensure compliance with legal provisions embodied in the annual appropriated budget approved by the Town Board. Activities of all funds are included in the annual appropriated budget. The appropriations for all funds lapse at year-end, including those funds for the Capital Improvement Fund. Projects included in the Town of Windsor Five-Year Capital Improvement Program (“CIP”) are reviewed annually. Projects extending beyond the current budget year-end are approved in concept only. The level of budgetary control (the level at which expenditures cannot legally exceed the appropriated amount) is established at the fund level. The finance department maintains a financial management system, generating reports that assist with budgetary projections and control. By using these reports, necessary budget revisions and spending reductions can be anticipated. These reports help alert department heads when transactions exceed the appropriated budget so suitable action may be taken. The information presented in the financial statements is perhaps best understood when it is considered from the broader perspective of the specific environment within which the Town operates.

Local economy. Nearly all of the Town’s sources of revenue are affected by population and have seen tremendous increases in the past 20 to 25 years. The growth pattern that Windsor experienced since the mid 1990’s slowed considerably from 2007 through 2011 with building permit activity bottoming out in 2009. Consequently, the Town had to provide and maintain the same level of service for a growing number of citizens using limited resources. Emphasis continues to be placed on water, sewer and road construction and maintenance to keep pace with the growing community and aging infrastructure. Parks and Recreation programs and facilities have also been important to the community, thus annual allocations are made to quality of life and recreational programs. Sales and use tax is the primary source of general revenues (57.5%) followed by property tax (19.0%), totaling 76.5% of the general revenues for fiscal year 2018. Fortunately, the Town’s sales tax base consists mostly of necessity-related vendors such as supermarkets, restaurants and utility companies (46.4%), providing revenue stability. It is anticipated that continued population growth will increase the sales and property tax revenues as well. As more people live in Windsor, and are providing more places to shop, the Town should continue to see an increase in sales tax and property tax collections. Please refer to the Management’s Discussion and Analysis for additional background, analysis and information on the Town’s operations during 2018. Long-term financial planning. The Town adopted the use of a five-year modeling plan which has been refined continually since its original adoption. This five-year model serves as a financial management plan which ensures long-term financial stability, planning for future replacement and maintenance of capital assets, maintaining current levels of services provided to Windsor citizens and addresses increasing service levels for the organization. Primary issues facing the Town are issues related to downtown revitalization, economic sustainability, public outreach, aging infrastructure and public safety.

Independent Audit

Article 11, Section 12 (11.12) of the Town of Windsor Home Rule Charter requires an independent annual audit. Anton Collins Mitchell LLP, a firm of independent certified public accountants, audited the financial statements for the year ended December 31, 2018. The independent auditor’s report is included in the financial section of this report.

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Reporting Achievements

The Government Finance Officers Association of the United States and Canada (“GFOA”) awarded a Certificate of Achievement for Excellence in Financial Reporting to the Town of Windsor for its comprehensive annual financial report for the fiscal year ended December 31, 2017. This was the tenth consecutive year that the government achieved 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. The Town also received the GFOA’s Award for Distinguished Budget Presentation for its 2018 annual budget. To qualify for this award, the Town’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. This is the thirteenth such award the Town has received. The 2019 annual budget was again submitted for this award. Acknowledgements

The preparation of the comprehensive annual financial report on a timely basis was made possible by the cooperation and dedicated services of the staff of the Finance Department and of other Town departmental staff who contributed information in the report. Finally, we wish to thank the Mayor and Town Board for their continued support. Respectfully submitted,

Dean Moyer Director of Finance

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The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the Town of Windsor for its comprehensive annual financial report for the fiscal year ended December 31, 2017. This was the tenth consecutive year that the government has achieved 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 the GFOA to determine its eligibility for another certificate.

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December 31, 2018

TOWN OFFICIALS

Term Expires Mayor - at-large Kristie Melendez Apr 2020

Mayor Pro Tem District 1 Myles Baker Apr 2020

Town Board Member District 2 Barry Wilson Apr 2022

Town Board Member District 3 Ken Bennett Apr 2020

Town Board Member District 4 Paul Rennemeyer Apr 2022

Town Board Member District 5 Thomas Jones Apr 2022

Town Board Member District 6 David Sislowski Apr 2022

Town Manager Shane Hale

Town Attorney Ian McCargar

Municipal Court Judge Teresa Ablao

Town Clerk Krystal Eucker

Director of Finance / Information Systems Dean Moyer

Director of Human Resources Jennifer Butcher

Director of Planning Scott Ballstadt

Economic Development Manager Stacy Miller

Chief of Police Rick Klimek

Director of Public Works Terry Walker

Director of Engineering Dennis Wagner

Director of Parks, Recreation & Culture Eric Lucas

T O W N O F W I N D S O R

301 Walnut Street Windsor, Colorado 80550

Phone: 970.674.2400 Fax: 970.674.2456 http://www.windsorgov.com

TOWN BOARD MEMBERS THROUGH DECEMBER 31, 2018 Elected for Four Year Terms

APPOINTED OFFICIALS AND TOWN STAFF

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INDEPENDENT AUDITOR’S REPORT

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Independent Auditor’s Report To the Honorable Mayor and Members of the Town Board Town of Windsor, Colorado 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 the Town of Windsor, Colorado (the “Town”), as of and for the year ended December 31, 2018, and the related notes to the financial statements, which collectively comprise the Town’s 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. Auditor’s 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. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit 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 Town of Windsor, Colorado as of December 31, 2018, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.

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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 5 through 16, the budgetary comparison information and related notes on pages 54 through 56, and pension related information on pages 57 and 58 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 evidence sufficient to express an opinion or provide any assurance. Other Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Town’s basic financial statements. The combining and individual nonmajor fund financial statements, budgetary comparison schedules, debt service requirements schedules, and Local Highway Finance Report, and the other information, such as the introductory and statistical information, 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, budgetary comparison schedules, debt service requirements schedules, and Local Highway Finance Report 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. This 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 information is fairly stated, in all material respects, in relation to the basic financial statements taken as a whole. The introductory section and statistical section 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. Greeley, Colorado June 10, 2019

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MANAGEMENT’S DISCUSSION AND ANALYSIS

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TOWN OF WINDSOR, COLORADO MANAGEMENT’S DISCUSSION AND ANALYSIS

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As management of the Town of Windsor (the “Town”), we offer readers of the Town’s financial statements this narrative overview and analysis of the financial activities of the Town for the fiscal year ended December 31, 2018. FINANCIAL HIGHLIGHTS

The assets and deferred outflows of resources of the Town exceeded its liabilities and deferred inflows of resources at the close of 2018 by $303,635,466.

Of this amount, $52,621,014 may be used to meet the Town’s ongoing obligations to citizens and creditors.

The Town’s total net position increased by $38,585,484.

At the end of the current fiscal year, unassigned fund balance for the General Fund was $12,622,393 or 72.9% of total General Fund expenditures excluding transfers out.

The Town’s total debt decreased by $2,157,097 during the current fiscal year. The decrease was due to annual principal payments applied to the existing 2012 Refunding Sales and Use Tax Bonds, the USDA, CWCB and CWR&PDA Loans, the 2015 Sales and Use Tax Bonds, and the CWCB loan for the Kyger Reservoir.

OVERVIEW OF THE FINANCIAL STATEMENTS

This discussion and analysis is intended to serve as an introduction to the Town’s basic financial statements. The Town’s basic financial statements are comprised of three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains required and other supplementary information in addition to the basic financial statements themselves. Government-wide financial statements. The government-wide financial statements are designed to provide readers with a broad overview of the Town’s finances, in a manner similar to a private-sector business. The statement of net position presents information on all of the Town’s assets, deferred outflows of resources, liabilities, and deferred inflows of resources with the difference between these categories 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 Town is improving or deteriorating. The statement of activities presents information showing how the Town’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g., uncollected taxes and earned but unused vacation leave). Both of the government-wide financial statements distinguish functions of the Town that are principally supported by taxes and intergovernmental revenues (governmental activities) from other 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 Town include general government, public safety, public works, cemetery operations, community development, culture, parks, and recreation. The business-type activities of the Town include potable and non-potable water, sewer and storm water operations. The government-wide financial statements are on pages 19-21 of this report.

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Fund financial statements. A fund is a grouping of related accounts, used to maintain control over resources, segregated for specific activities or objectives. The Town of Windsor, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the Town can be divided into two categories: governmental funds and proprietary funds. Governmental funds. Most of the Town’s basic services are reported in governmental funds, which focus on how money flows into and out of those funds and the balances left at year-end available for spending. The funds are reported using an accounting method called modified accrual accounting, which measures cash and all other financial assets that can readily be converted to cash. The governmental funds statements provide a detailed short-term view to cash, the governmental fund operations, and the basic services it provides. These statements help determine whether there are more or fewer financial resources that can be spent in the near future to finance the Town’s programs. We describe the relationship (or differences) between governmental activities (reported in the Statement of Net Position and the Statement of Activities) and governmental funds in reconciliations on pages 23 and 25. The basic governmental fund financial statements are on pages 22-25 of this report. Proprietary funds. The Town maintains two types of proprietary funds. Enterprise funds report the same functions presented as business-type activities in the government-wide financial statements. The Town uses enterprise funds to account for its water, sewer, and storm drainage operations. Internal service funds account for operations that provide services to other departments or agencies of the Town, or to other governments, on a cost-reimbursement basis. The Town has four internal service funds, the Fleet Management Fund, the Information Technology Fund, the Facility Services Fund, and the Windsor Building Authority. Proprietary funds provide the same type of information as the government-wide financial statements, only in more detail. The proprietary fund financial statements provide separate information for water, sewer and storm water operations, all of which are major funds of the Town. The basic proprietary fund financial statements are on pages 26-28 of this report. 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 are on pages 29-52 of this report. Other information. The budgetary comparison for the General Fund and Community Recreation Center Expansion Fund are on pages 54-56. The combining statements for the non-major Park Improvement, Community Recreation Center, and Conservation Trust Funds are on pages 60-61. The budgetary comparison for the Capital Improvement Fund is on page 62. The budgetary comparison for the non-major Park Improvement, Community Recreation Center, and Conservation Trust Funds are on pages 63-65. The budgetary comparison schedule for the enterprise funds are on pages 66-68 and the combining statements for internal service funds are on pages 69-71. The budgetary comparison schedule for the internal service funds is on pages 72-75.

FINANCIAL ANALYSIS OF THE TOWN AS A WHOLE

As noted earlier, net position serves as a useful indicator of a government’s financial position. In the case of the Town, assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources by $303,635,466.

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By far, the largest portion of the Town’s net position (72.3%) reflects its net investment in capital assets (e.g., land, buildings, distribution and collection systems, infrastructure, machinery, and equipment); less any related debt used to acquire those outstanding assets and the associated accumulated depreciation. The Town uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Although the Town’s investment in its capital assets is reported net of related debt, it should be noted 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. Unrestricted net position may be used to meet the Town’s ongoing obligations to citizens and creditors. Our analysis below focuses on the net position of the Town’s governmental and business-type activities.

The restricted portion of net position (10.4%) represents resources that are subject to external restrictions on how they may be used. The remaining balance of unrestricted net position ($52,621,014) may be used to meet the Town’s ongoing obligations to citizens and creditors.

Table 2 shows changes in net position of the Town’s governmental and business-type activities. The Town presents comparative data from 2018 and 2017 as required by the Governmental Accounting Standards Board pronouncement 34 (“GASB 34”).

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Governmental Activities. There was a 24.1% increase in governmental revenues from 2017 to 2018, about $10.3 million. Sales and use tax increased 11.9% for $1.9 million. The Town continues to grow with construction and use tax from building permits. Charges for services increased 70.3% or $5.05 million. The majority of this increase, or $3.85 million is due to a reclassification of Traffic Impact Fees that in prior years was included under other taxes. Similarly, Franchise & other taxes is displaying a decrease in activity for the year of $2.16 million. Capital grants increased by $6.2 million due to an increase in infrastructure contributions from developers. Property taxes increased 7.8% due to an increase in assessed valuation; the mill levy remained at 12.03 mills. Expenses increased 5.4% or $1.7 million, with the largest increase in Public Safety and Public Works. The major reason behind a $.6 million increase in Public Safety expenses was a 23% increase in staffing costs from 2017 although fleet capital costs decreased by $135,000 to offset these increases. Parks, Recreation & Culture increased 8.3% or $636,900.

Business-type Activities. Total revenues increased by 29.3% or about $6.1 million, as developer contributions accounted for 82% or $5.6 million of the increase. Gas and Oil Drilling Royalties saw an increase of $282,436 over 2017 revenues. Expenses increased by 6.5% in 2018 amounting to $496,368.

2018 2017 2018 2017 2018 2017 2018 2017

Revenues

Program revenues Charges for services 12,255,093$ 7,198,231$ 7,827,611$ 7,107,590$ 20,082,704$ 14,305,821$ -$ -$ Operating grants & contributions 2,416,664 2,272,232 - 2,416,664 2,272,232 2,712 - Capital grants & contributions 11,514,950 5,339,370 18,535,382 13,357,860 30,050,332 18,697,230 2,811 General revenues Property taxes 5,925,226 5,496,800 - 5,925,226 5,496,800 59,864 49,583 Sales & use taxes 17,935,764 16,021,688 - 17,935,764 16,021,688 - Franchise and other taxes 2,293,548 4,454,348 - 2,293,548 4,454,348 - Earnings on investments 502,912 333,530 669,264 433,027 1,172,176 766,557 93 90 Gain/(Loss) on disposal of capital assets (2,421,957) 14,500 - (2,421,957) 14,500 - Other revenues 2,351,515 1,375,986 77,031 65,957 2,428,546 1,441,943 332,004

Total Revenues 52,773,715 42,506,685 27,109,288 20,964,434 79,883,003 63,471,119 62,669 384,488

Expenses

General government 5,326,249 5,034,098 - - 5,326,249 5,034,098 - - Public safety 4,879,991 4,298,211 - - 4,879,991 4,298,211 - - Public works 9,382,492 8,445,118 - - 9,382,492 8,445,118 - - Parks, Recreation and Culture 8,271,754 7,634,854 - - 8,271,754 7,634,854 - - Community development 337,220 413,032 - - 337,220 413,032 - - Safety and loss control 7,716 4,671 - - 7,716 4,671 - - Small equipment & maintenance 4,512,849 4,666,480 - - 4,512,849 4,666,480 - - Interest on long-term debt 549,781 1,064,720 - - 549,781 1,064,720 - - Water - 4,719,698 4,633,199 4,719,698 4,633,199 - - Sewer - 2,517,297 2,187,404 2,517,297 2,187,404 - - Storm drainage - 792,472 712,496 792,472 712,496 - -

Total Expenses Primary Government 33,268,052 31,561,184 8,029,467 7,533,099 41,297,519 39,094,283 - -

Component Unit

Downtown Development Authority 194,585 - - - - - 194,585 177,865

Excess in Net Position before transfers and special items 19,505,663 10,945,501 19,079,821 13,431,335 38,585,484 24,376,836 (131,916) 206,623 Transfers in (out) 925,523 (129,639) (925,523) 129,639 - - 614,500 - p pChange in net position 20,431,186 10,815,862 18,154,298 13,560,974 38,585,484 24,376,836 482,584 206,623 Net position - beginning of year (restated) 118,268,944 107,453,082 146,781,038 133,220,064 265,049,982 240,673,146 1,101,600 894,977

Net position - end of year 138,700,130$ 118,268,944$ 164,935,336$ 146,781,038$ 303,635,466$ 265,049,982$ 1,584,184$ 1,101,600$

Component Unit

Downtown Development

Authority

Table 2

Condensed Changes in Net Position from O perating Results

Governmental

Activities

Business-Type

Activities Total Primary Government

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There were 347 more water customers, 315 more sewer taps, and 1,031 more storm drainage accounts served in 2018. All of Windsor receives storm drainage service but not all receive water and sewer service from the Town system.

Across all funds, the net position increased 14.6% or $38.6 million due in part to the aforementioned increase in sales and use tax collections, developer contributions, and all sources of revenue related to construction and building permit fees. Financial Analysis of the Town’s Funds

As noted earlier, the Town uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. Governmental funds. The focus of the Town’s governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the Town’s financing requirements. In particular, unassigned fund balance serves as a useful measure of a government’s net resources available for spending at the end of the fiscal year. As of the end of the current fiscal year, the Town’s governmental funds reported combined ending fund balances of $53,882,219. Approximately 23.4% of this total amount or $12,622,393, constitutes unassigned fund balance, which is available for spending at the government’s discretion. The remainder of fund balance is restricted for emergencies or capital improvements or assigned for parks and recreation to indicate that it is not available for new spending because it has already been committed. There is $28,078,903 restricted for capital improvements, $1,257,149 restricted for emergencies, $1,009,605 restricted for parks and recreation for use under Conservation Trust Fund regulations, and $10,914,169 assigned for parks and recreation projects, which increased with the accumulation of community and neighborhood park fees for future projects. Governmental fund balances increased 37.7% or $14,759,297 from 2017, primarily due to increases in sales & use tax collection.

Sales and use tax for 2018 was up 11.9% or $1.9 million. Property tax was up $428,426 or 7.8% from 2017. Capital grants and developer contributions increased $6.2 million since 2017. Total revenue was 24.1% higher in 2018 or about $10.3 million.

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The distribution of expenses remains about the same for 2018. Draft

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In all, total governmental assets increased by 19.1%, as Capital Improvement investments increased by $4.4 million. Liabilities decreased 40% due to decreases in retainage and inter-funds payables. Included in deferred revenue, property taxes increased 13.7%, and fund balances increased 37.7% or $14,759,297. In the course of the year, revenues dedicated to these governmental funds, namely sales tax and construction use tax, both exceeded budget expectations. Retail sales tax collections again set a new historical high affecting the General, Capital Improvement, CRC and CRC Expansion fund balances. Construction use tax resumed an upward trajectory with a 13% increase in 2018, pointing to improved construction activity. The General Fund balance increased 12.9% with the sales, use, and property tax increases. General Fund Budgetary Highlights. The General Fund is the chief operating fund of the Town. The General Fund accounts for all the general services provided by the Town. At the end of 2018, the unassigned fund balance of the General Fund totaled $12,622,393, while the total fund balance was $13,182,802. As a measure of the General Fund’s liquidity, it is useful to compare both unassigned fund balance and total fund balance to total fund expenditures. Total General Fund expenditures were $17,307,238 or $18,080,201 including transfers.

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Established in 2015, the Economic Development Incentive Fund manages developer incentives for tracking purposes. According to GASB 54, a fund must have its own source revenue. The General Fund supplemented this fund by way of transfers; it is thus incorporated into the General Fund for reporting purposes.

General government expenditures include all administrative functions of the Town (i.e., Town Board, Town Clerk, Municipal Court, Town Manager, Finance, Town Attorney, Economic Development and Human Resources). Expenditures for 2018 are 12.1% ($1,874,838) more than comparable expenditures of 2017.

Proprietary funds. The Town’s proprietary funds provide the same type of information found in the government-wide financial statements, but in more detail.

The distribution of revenue sources for 2017 and 2018 is very similar as shown above and as you would expect operational revenues to be.

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Water Fund unrestricted net position increased 2.3% to $17,745,486. The unrestricted net positions of the Sewer Fund decreased to $8,934,310 due to an increase in the net investment in capital assets. The storm drainage fund’s unrestricted net position increased by 73.6% to $2,960,427 due to an increase in contributed capital derived from plant investment fees and developer contributions. Already addressed in the discussion of the Town’s business-type activities are other factors concerning the finances of these three funds.

Charges for Services33.90%

Capital Grants & Contributions

63.72%

Earnings on Investments

2.07%

Other Revenues

0.31%

TABLE 8 Revenues by Source - Business Type Activities

2017

Charges for Services29.09%

Capital Grants &

Contributions68.14%

Earnings on Investments

2.49%

Other Revenues

0.29%

TABLE 8 Revenues by Source - Business Type Activities

2018

The distribution of revenues in 2018 is dominated with Capital Grants and Contributions with 63.7% of the total revenues. Although Charges for Services is less of the total distribution compared to 2017, receipts actually increased by $720,021 or 10.1%.

The distribution of expenses in the Business-type activities is similar to 2017 although expenses did increase by $496,368 or 6.6%.

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Total assets for the proprietary funds increased in 2018 by 15.3% ($26,781,355), while liabilities increased by 30.7% ($36,886,997). Assets increased primarily due to increases in developer contributions. The overall net position increased 12.4% ($18,127,365). Also reflected in the business-type accounts is building and new construction. Plant investment fees collected on building permits at the time of issuance, generated cash retained for future projects. The water and sewer investment fee decreased in 2018 due to fewer building permits in 2018. Drainage investment fees and basin improvement fees are also collected monthly from all customers and increased significantly by 52.0% or $562,617

CAPITAL ASSET AND DEBT ADMINISTRATION

Capital assets. The Town’s investment in capital assets for its governmental and business-type activities as of December 31, 2018, amounts to $247,631,071 (net of accumulated depreciation). This investment in capital assets includes land, buildings, and system improvements, machinery and equipment, park facilities, roads, highways, and bridges.

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Additional information on the Town’s capital assets are in Note 1 on page 34 and Note 5 on pages 42-43 of this report.

Long-term debt. At the end of the current fiscal year, the Town of Windsor had total bonded debt outstanding of $16,152,000. The Town’s total debt of $28,588,037 represents bonds secured solely by the specified revenue sources (i.e., 2012 Refunding sales and use tax bonds and 2017 sales and use tax loan), a USDA loan for the police facility, a loan for the construction of the Kern Reservoir, a Sewer Waste Water Treatment Plant loan, a loan for the Kyger Reservoir and compensated absences.

The Town’s debt decreased 7.0% ($2,157,097) since 2017 from principal payments and refinancing the 2015 Sales & Use Tax Bonds. The Town’s debt policy imposes a legal debt margin 10% of assessed valuation. The debt limit at December 31, 2018 was $49,647,087. The amount of debt applicable to the debt limit is $27,905,333 leaving a legal debt margin of $21,741,754. Additional information on the Town’s long-term debt are in Note 6 on pages 44-46 of this report.

2018 2017 2018 2017 2018 2017

2012 Refunding Sales & Use Tax Bonds 1,620,000$ 1,945,000$ -$ 1,620,000$ 1,945,000$

Bond Premium 38,695 55,056 - 38,695 55,056

USDA Community Facilities Loan (WBA) 2,551,512 2,739,670 - 2,551,512 2,739,670

2017 Refunding Sales & Use Tax Loan 14,532,000 15,480,000 - 14,532,000 15,480,000

CWCB Loan (Kyger Reservoir) - 4,371,509 4,545,000 4,371,509 4,545,000

CWR&PDA Loan Sewer WWTP - 1,819,935 2,010,255 1,819,935 2,010,255 Bank of Colorado LoanKern Reservoir - 3,010,377 3,305,082 3,010,377 3,305,082

Compensated Absences 582,751 601,043 61,258 64,028 644,009 665,071

Total 19,324,958$ 20,820,769$ 9,263,079$ 9,924,365$ 28,588,037$ 30,745,134$

Table 12

Town of Windsor's Outstanding Debt at Year EndGovernmental

Activities

Business-Type

Activities Total

2018 2017 2018 2017 2018 2017

Construction in progress 1,130,901$ 8,519,419$ 5,228,649$ 12,234,867$ 6,359,550$ 20,754,286$ Land and water rights 3,951,985 3,248,036 45,652,537 42,887,531 49,604,522 46,135,567Site improvements 5,054,138 6,846,493 - 5,054,138 6,846,493Buildings and improvements 29,112,030 23,838,725 - 29,112,030 23,838,725Streets and improvements 55,075,644 47,309,075 - 55,075,644 47,309,075Parks and improvements 7,502,956 8,283,438 - 7,502,956 8,283,438Machinery and equipment 3,564,445 3,477,397 - 3,564,445 3,477,397Furniture and fixtures 453,583 479,323 - 453,583 479,323Utility systems and equipment - 90,904,203 72,198,526 90,904,203 72,198,526

Total 105,845,682$ 102,001,906$ 141,785,389$ 127,320,924$ 247,631,071$ 229,322,830$

Table 11

Activities

Business-TypeGovernmental

Activities

Capital Assets, Net

Total

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December 31, 2018

16

ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS AND RATES

The annual budget assures the efficient, effective and economic uses of Town’s resources, as well as establishing the highest priority objectives. Through the budget, the Town Board sets the direction for the Town, allocates its resources, and establishes its priorities. The Windsor Town Board approved and adopted the 2019 budget on December 10, 2018 appropriating $79,347,183 for expenditures. The 2019 appropriation represents a 24.3% increase from 2018 with increases in personnel, operations and debt, and capital outlay. There is also a 19.5% increase in projected revenues of $68,532,384 as compared to $57,371,251 budgeted in 2018. Comparing the 2019 budgeted revenue to 2018, minus grants and loans, results in an anticipated 13.8% increase. The increase in revenue includes a 22.1% increase in taxes, mainly sales and use taxes. Road Impact fees and Storm Drainage fees both increased for 2019. Improving infrastructure is always a primary concern. Projects for 2019 include $2.7 million in street maintenance, roundabouts at WCR13 & 7th Street, continued investment in the I-25 widening improvement project, street oversizing, drainage improvements along Chestnut street, replacement water lines, and detention pond improvements. In addition, capital spending is being directed at the construction of a new Parks maintenance facility, trails system expansion, data center upgrades, Village East park development, design & construction of a museum storage facility, and the provision of downtown diagonal parking spaces. There is provision for both a 4% wage study implementation increase and a 3% merit pool for employees in the 2019 budget and a total net addition of 20.3 FTE. Department additions include: Police (7.5 FTE), Public Works (2.7 FTE), Planning (1.0 FTE), Information Technology (3.1 FTE), Administrative Services (2.0 FTE), Parks, Recreation & Culture (3.0 FTE), and Facilities (1.0 FTE). Specifically, the added positions include;

Director of Community Development Director of Public Services Director of Administrative Services Patrol Officer (4) Police Investigator Police Community Service Officer (CSO) Police Records Clerk Police School Resource Officer (0.5 FTE) Recreation Coordinator of Events &

Sponsorships Administrative Analyst Facilities Maintenance Technician IT Technical Support Analyst

IT Security Analyst Utility Technician Facilities Manager Public Works Administrative Assistant (0.7

FTE) Facilities Specialist (2) from 30hrs to 40hrs (0.5

FTE) Dishwasher (0.2 FTE) GIS Technician from PT to FT (0.4 FTE) Information Technology Intern (0.7 FTE) Recreation Administrative Assistant - PT to FT

(0.3 FTE)

Contacting the Town’s Financial Management

This financial report is designed to provide a general overview of the Town of Windsor’s finances for all those with an interest in the Town’s finances. Address any questions concerning the information provided in this report or requests for additional financial information to:

Town of Windsor Director of Finance 301 Walnut Street Windsor, CO 80550

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BASIC FINANCIAL STATEMENTS

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STATEMENT OF NET POSITION December 31, 2018

The accompanying notes are an integral part of these financial statements.

19

Component UnitDowntown

Governmental Business-Type DevelopmentActivities Activities Total Authority

AssetsCash and cash equivalents 4,592,396$ 2,153,520$ 6,745,916$ 839,586$ Investments 30,027,647 45,647,235 75,674,882 - Receivables 9,500,130 718,405 10,218,535 - Prepaid items 7,101 - 7,101 - Internal balances 15,469,118 (15,469,118) - - Restricted assets:

Investments 145,622 - 145,622 - Capital assets, not being depreciated 5,082,886 50,881,184 55,964,070 721,770 Capital assets, being depreciated, net 100,762,796 90,904,205 191,667,001 22,928 Net pension Asset 220,987 - 220,987 -

Total assets 165,808,683 174,835,431 340,644,114 1,584,284

Deferred outflows of resourcesDeferred loss on refunding 27,240 - 27,240 - Deferred outflows of resources - pensions 289,566 - 289,566 -

Total deferred outflows of resources 316,806 - 316,806 -

Liabilities Accounts payable and other liabilities 455,069 591,615 1,046,684 100 Accrued payroll 446,650 12,160 458,810 - Accrued interest payable 24,290 33,240 57,530 - Noncurrent liabilities:

Due within one year Bonds and loans payable 1,337,721 679,681 2,017,402 - Accrued compensated absences 524,964 54,744 579,708 - Due in more than one year Bonds and loans payable 17,404,486 8,522,140 25,926,626 - Accrued compensated absences 57,787 6,515 64,302 -

Total liabilities 20,250,967 9,900,095 30,151,062 100

Deferred inflows of resourcesDeferred revenue - property taxes 6,793,512 - 6,793,512 - Deferred gain on refunding 295,488 - 295,488 - Deferred inflows of resources - pensions 85,392 - 85,392 -

Total deferred inflows of resources 7,174,392 - 7,174,392 -

Net positionNet investment in capital assets 86,835,227 132,583,568 219,418,795 744,698 Restricted for:

Capital projects 28,078,903 - 28,078,903 - TABOR emergency reserve 1,257,149 - 1,257,149 - Parks and recreation 1,009,605 - 1,009,605 - Operations and maintenance - 1,250,000 1,250,000 -

Unrestricted 21,519,246 31,101,768 52,621,014 839,486

Total net position 138,700,130$ 164,935,336$ 303,635,466$ 1,584,184$

Primary Government

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STATEMENT OF ACTIVITIES For the Year Ended December 31, 2018


20

Operating CapitalCharges for Grants and Grants and

Functions/programs Expenses Services Contributions Contributions

Governmental activities:General government 5,326,249$ -$ -$ -$ Public safety 4,879,991 260,163 - - Public works 9,382,492 1,344,727 1,570,203 11,514,950 Parks, Recreation and Culture 8,271,754 10,650,203 497,779 - Community development 337,220 - 15,059 - Safety and loss control 7,716 - - - Small equipment and maintenance 4,512,849 - 333,623 - Interest on long-term debt 549,781 - - -

Total governmental activities 33,268,052 12,255,093 2,416,664 11,514,950

Business-type activities:Water 4,719,698 5,105,331 - 9,391,356 Sewer 2,517,297 2,339,480 - 6,312,286 Storm drainage 792,472 382,800 - 2,831,740

Total business-type activities 8,029,467 7,827,611 - 18,535,382

Total primary government 41,297,519$ 20,082,704$ 2,416,664$ 30,050,332$

Component unitDowntown Development Authority 194,585$ -$ 2,712$ -$

General revenues Taxes:

Property taxesSales and use taxesFranchise taxesOther taxes

Earnings on investmentsLoss on disposal of capital assetsOther revenues

Subtotal general revenues

Transfers in (out)

Total general revenues and transfers

Changes in net position

Net position at beginning of year

Net position at end of year

Program Revenues

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STATEMENT OF ACTIVITIES For the Year Ended December 31, 2018


21

Component UnitDowntown

Governmental Business-Type DevelopmentActivities Activities Total Authority

(5,326,249)$ -$ (5,326,249)$ -$ (4,619,828) - (4,619,828) - 5,047,388 - 5,047,388 - 2,876,228 - 2,876,228 - (322,161) - (322,161) -

(7,716) - (7,716) - (4,179,226) - (4,179,226) -

(549,781) - (549,781) -

(7,081,345) - (7,081,345) -

- 9,776,989 9,776,989 - - 6,134,469 6,134,469 - - 2,422,068 2,422,068 -

- 18,333,526 18,333,526 -

(7,081,345) 18,333,526 11,252,181 -

- - - (191,873)

5,925,226 - 5,925,226 59,86417,935,764 - 17,935,764 -

1,669,430 - 1,669,430 - 624,118 - 624,118 - 502,912 669,264 1,172,176 93

(2,421,957) - (2,421,957) - 2,351,515 77,031 2,428,546 -

26,587,008 746,295 27,333,303 59,957

925,523 (925,523) - 614,500

27,512,531 (179,228) 27,333,303 674,457

20,431,186 18,154,298 38,585,484 482,584

118,268,944 146,781,038 265,049,982 1,101,600

138,700,130$ 164,935,336$ 303,635,466$ 1,584,184$

Net (Expense) Revenueand Changes in Net Position

Primary Government

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BALANCE SHEET GOVERNMENTAL FUNDS

December 31, 2018


22

CommunityRecreation Other Total

Capital Center Governmental GovernmentalGeneral Improvement Expansion Funds Funds

ASSETS

Cash and cash equivalents -$ -$ 2,194,518$ 1,887,762$ 4,082,280$ Investments 3,016,731 26,520,523 349,408 140,985 30,027,647 Receivables 8,143,489 857,948 357,787 130,439 9,489,663 Interfund receivable 9,562,457 - 4,638,699 9,893,197 24,094,353

Total assets 20,722,677$ 27,378,471$ 7,540,412$ 12,052,383$ 67,693,943$

LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES

LiabilitiesAccounts and retainage payable 67,416$ 87,065$ 1,138$ 739$ 156,358$ Accrued payroll 421,317 - 19,363 5,970 446,650 Other liabilties 257,630 - - - 257,630 Interfund payable - 6,157,574 - - 6,157,574

Total liabilities 746,363 6,244,639 20,501 6,709 7,018,212

Deferred inflows of resourcesDeferred revenue - property taxes 6,793,512 - - - 6,793,512

Fund balancesRestricted for emergencies 560,409 427,338 147,502 121,900 1,257,149 Restricted for capital improvements - 20,706,494 7,372,409 - 28,078,903 Restricted for parks and recreation - - - 1,009,605 1,009,605 Assigned for parks and recreation - - - 10,914,169 10,914,169 Unassigned 12,622,393 - - - 12,622,393

Total fund balances 13,182,802 21,133,832 7,519,911 12,045,674 53,882,219

Total liabilities, deferred inflows of resources and fund balances 20,722,677$ 27,378,471$ 7,540,412$ 12,052,383$ 67,693,943$

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RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET WITH THE GOVERNMENT-WIDE STATEMENT OF NET POSITION

December 31, 2018


23

Amounts reported for governmental activities in the Statement of Net Position are different because:

Total fund balances - governmental funds 53,882,219$

The cost of capital assets, net of accumulated depreciation 99,928,725

Deferred loss on refunding 27,240$ Deferred gain on refunding (295,488) (268,248)

Net pension asset 220,987$ Deferred outflows of resources relating to pensions 289,566 Deferred inflows of resources relating to pensions (85,392) 425,161

Long-term debt (16,152,000)$ Premium on bonds (38,695) Accrued interest payable (24,290)

Accrued compensated absences (542,537) (16,757,522)

1,489,795

Total net position of governmental activities 138,700,130$

Internal service funds are used by management to charge the cost of services to individual funds. Theassets and liabilities of the internal service funds are included in governmental activities in theStatement of Net Position.

Capital assets used in governmental activities are not current financial resources and, therefore, are not reported as assets in the governmental funds.

The deferred loss on refunding is not a current financial resource and the deferred gain on refunding isnot a current obligation. Therefore, these are not reported in the governmental funds.

Long-term liabilities, including bonds payable, are not due and payable from the current financialresources and, therefore, are not reported as liabilities in the funds. Long-term liabilities at year-endconsist of:

Pension asset and related deferred inflows and deferred outflows of resources are not current financialresources and, therefore, are not reported in the fund financial statements.Draft

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STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS

For the Year Ended December 31, 2018


24

Community Recreation Other Total

Capital Center Governmental GovernmentalGeneral Improvement Expansion Funds Funds

RevenuesTaxes 14,190,781$ 7,542,093$ 3,491,211$ 930,453$ 26,154,538$ Licenses and permits 1,133,960 - - - 1,133,960 Intergovernmental 1,570,203 333,623 - 424,545 2,328,371 Grants and contributions 15,059 11,245,450 - 73,234 11,333,743 Charges for services 1,345,721 3,851,266 1,364,008 4,336,565 10,897,560 Fines and forfeitures 223,573 - - - 223,573 Earnings on investments 70,995 421,453 6,802 3,597 502,847 Miscellaneous 145,068 2,096,181 54,728 - 2,295,977

Total revenues 18,695,360 25,490,066 4,916,749 5,768,394 54,870,569

ExpendituresCurrent:

General government 4,421,503 - - - 4,421,503 Public safety 4,527,808 - - - 4,527,808 Public works 4,101,075 - - - 4,101,075 Parks, recreation and culture 3,934,808 - 1,528,750 1,083,650 6,547,208 Community development 314,319 - - - 314,319 Safety and loss control 7,725 - - - 7,725 Small equipment and maintenance - 4,511,422 - - 4,511,422

Debt service Principal - - 948,000 325,000 1,273,000 Interest - - 388,316 58,550 446,866 Debt issuance costs - - 3,070 - 3,070

Capital outlay - 12,683,418 - 1,909,221 14,592,639

Total expenditures 17,307,238 17,194,840 2,868,136 3,376,421 40,746,635

Revenues over expenditures 1,388,122 8,295,226 2,048,613 2,391,973 14,123,934

Other financing sources (uses)Transfers in 918,043 102,382 - - 1,020,425 Transfers out (145,080) (210,913) - (29,069) (385,062)

Total other financing sources (uses) 772,963 (108,531) - (29,069) 635,363

Net changes in fund balances 2,161,085 8,186,695 2,048,613 2,362,904 14,759,297

Fund balance at beginning of year 11,021,717 12,947,137 5,471,298 9,682,770 39,122,922

Fund balance at end of year 13,182,802$ 21,133,832$ 7,519,911$ 12,045,674$ 53,882,219$

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RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES

WITH THE GOVERNMENT-WIDE STATEMENT OF ACTIVITIES For the Year Ended December 31, 2018


25

Amounts reported for governmental activities in the Statement of Activities are different because:

Total net change in fund balance - governmental funds. 14,759,297$

Capital outlay 3,219,616$ Contributed assets 11,145,461 Net book value of disposed assets (2,645,395) Depreciation expense (7,548,121) 4,171,561

1,273,000

45,941

2,157

23,602

174,025

(18,397)

Change in net position of governmental activities 20,431,186$

Some expenses reported in the Statement of Activities do not require the use of current financialresources and, therefore, are not reported as expenditures in governmental funds. This includesthe accretion of bond premium and the amortization of the deferred loss on refunding and thedeferred gain on refunding.

Capital outlays to purchase or build capital assets are reported in governmental funds asexpenditures. However, for governmental activities those costs are shown in the Statement of NetPosition and allocated over their estimated useful lives as annual depreciation expense in theStatement of Activities. This is the amount by which depreciation expense exceeded capital outlayduring the period:

The repayment of bond principal is an expenditure in the Statement of Revenues, Expenditures and Changes in Fund Balances. However, these are reflected as reductions of liabilities in the Statement of Net Position and do not affect the Statement of Activities.

Pension expense resulting from changes in the Town's defined benefit retirement plan accountbalances is recognized on the Statement of Activities and not included in the fund financial

Internal service funds are used by management to charge the cost of services to individuals funds.The net revenue of certain activities of internal service funds is reported with governmentalactivities.

Increase in accrued compensated absences reflected as a reduction of expense on the Statement ofActivities and not reflected in the governmental fund Statement of Revenues, Expenditures andChanges in Fund Balances.

Decrease in accrued interest payable reflected as an expense on the Statement of Activities and notreflected as an expense on the governmental fund Statement of Revenues, Expenditures andChanges in Fund Balances.

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STATEMENT OF NET POSITION PROPRIETARY FUNDS

December 31, 2018


26

GovernmentalActivit ies

Internal Service

Water Sewer Storm Drainage Total FundsASSETSCurrent assets

Cash and cash equivalents -$ -$ 2,153,520$ 2,153,520$ 510,116$ Investments 43,913,752 1,296,519 436,964 45,647,235 - Interfund receivable 764,910 10,148,030 535,041 11,447,981 - Prepaid items - - - - 7,101 Accounts receivable 463,743 204,247 50,415 718,405 10,467

Total current assets 45,142,405 11,648,796 3,175,940 59,967,141 527,684

Noncurrent assetsRestricted investments - - - - 145,622 Capital assets:

Land 3,560,981 84,083 666,106 4,311,170 157,853 Water rights 41,341,367 - - 41,341,367 - Utility system 42,593,877 42,492,609 24,783,835 109,870,321 - Buildings and improvements 3,627,713 5,656,326 - 9,284,039 4,994,533 Machinery and equipment 849,771 2,515,933 46,382 3,412,086 8,158,302 Construction in progress 4,405,435 608,453 214,760 5,228,648 -

Less: accumulated depreciation (11,450,326) (15,326,211) (4,885,705) (31,662,242) (7,393,731)

Total capital assets, net 84,928,818 36,031,193 20,825,378 141,785,389 5,916,957

Total noncurrent assets 84,928,818 36,031,193 20,825,378 141,785,389 6,062,579

Total assets 130,071,223 47,679,989 24,001,318 201,752,530 6,590,263

LIABILITIESCurrent liabilities

Interfund payable 26,783,544 - 203,338 26,986,882 2,397,878 Accounts payable 565,030 16,256 10,329 591,615 13,231 Accrued liabilities 34,846 8,708 1,846 45,400 27,850 Accrued compensated absences - current 12,063 42,681 - 54,744 - Loans payable - current 483,413 196,268 - 679,681 44,721

Total current liabilities 27,878,896 263,913 215,513 28,358,322 2,483,680

Noncurrent liabilitiesAccrued compensated absences 1,436 5,079 - 6,515 40,214 Loans payable 6,898,473 1,623,667 - 8,522,140 2,506,791

Total noncurrent liabilities 6,899,909 1,628,746 - 8,528,655 2,547,005

Total liabilities 34,778,805 1,892,659 215,513 36,886,977 5,030,685

NET POSITIONNet investment in capital assets 77,546,932 34,211,258 20,825,378 132,583,568 3,365,445 Restricted for operations and maintenance - 1,250,000 - 1,250,000 - Unrestricted 17,745,486 10,326,072 2,960,427 31,031,985 (1,805,867)

Total net position 95,292,418$ 45,787,330$ 23,785,805$ 164,865,553 1,559,578$

Amounts reported for business-type activities in the Statement of Net Position are different

69,783

164,935,336$

Business-Type Activities - Enterprise Funds

because of the cumulative portion of internal service funds net operating income attributed to business-type activities

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STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION PROPRIETARY FUNDS



27

Governmental

Activities Internal Service

Water Sewer Storm Drainage Total FundsOperating revenues

Charges for services 4,259,743$ 2,209,330$ 382,800$ 6,851,873$ 3,117,600$ Insurance recoveries - - - - 128,200 Miscellaneous 845,588 130,150 - 975,738 227,742

Total operating revenues 5,105,331 2,339,480 382,800 7,827,611 3,473,542

Operating expensesWages and benefits 185,247 356,758 40,976 582,981 1,338,765 Operating costs 3,486,076 1,157,659 258,392 4,902,127 1,386,413 Depreciation 802,543 940,971 482,812 2,226,326 1,197,551

Total operating expenses 4,473,866 2,455,388 782,180 7,711,434 3,922,729

Operating income (loss) 631,465 (115,908) (399,380) 116,177 (449,187)

Nonoperating revenues (expenses)Earnings on investments 633,505 26,914 8,845 669,264 65 Gain on disposal of capital assets - - - - - Grant revenue - 500,000 4,000 504,000 - Interest expense (230,021) (37,914) - (267,935) (102,002)

Total nonoperating revenues (expenses) 403,484 489,000 12,845 905,329 (101,937)

Income (loss) before contributions and transfers 1,034,949 373,092 (386,535) 1,021,506 (551,124)

Capital contributions 9,391,356 5,812,286 2,827,740 18,031,382 269,500 Transfers in 465,571 - - 465,571 290,160 Transfers out (794,710) (294,133) (302,251) (1,391,094) -

Change in net position 10,097,166 5,891,245 2,138,954 18,127,365 8,536

Net position at beginning of year 85,195,252 39,896,085 21,646,851 146,738,188 1,551,042

Net position at end of year 95,292,418$ 45,787,330$ 1,559,578$ ERROR

Amounts reported for business-type activities in the Statement of Activities are different because

26,933

18,154,298$

Business-Type Activities - Enterprise Funds

Internal service funds increase to expenses for costs in excess of charges to the business-type activities

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STATEMENT OF CASH FLOWS PROPRIETARY FUNDS

FOR THE YEAR ENDED DECEMBER 31, 2018


28

Governmental

Activit ies Internal Service

Water Sewer Storm Drainage Total FundsCash flows from operating activit ies

Cash received from customers 3,911,953$ 2,228,114$ 394,249$ 6,534,316$ 3,107,134$ Other receipts 845,588 130,150 - 975,738 132,504 Cash payments to suppliers (3,309,729) (1,584,108) (260,974) (5,154,811) (1,421,894) Cash payments to employees (249,613) (391,797) (55,442) (696,852) (1,339,441)

Net cash flows from operating activit ies 1,198,199 382,359 77,833 1,658,391 478,303

Cash flows from non-capital financing activit ies Grant income 211,096 506,750 4,000 721,846 - Change in interfund payable 9,780,021 - 1,013,658 10,793,679 (22,542) Change in interfund receivable 61,700 (890,462) (100,960) (929,722) 286,083 Transfers from other funds 465,571 - - 465,571 290,160 Transfers to other funds (794,710) (294,133) (302,251) (1,391,094) -

Net cash flows from non-capital financing activities 9,723,678 (677,845) 614,447 9,660,280 553,701

Cash flows from capital and related financing activit iesCapital contributions 9,391,356 5,812,286 2,827,740 18,031,382 269,500 Principal paid on debt (468,196) (190,320) - (658,516) (188,158) Interest paid on debt (230,021) (37,914) - (267,935) (102,002) Acquisit ion of capital assets (10,034,689) (5,289,417) (1,366,685) (16,690,791) (646,329)

Net cash flows from capital and related financing activities (1,341,550) 294,635 1,461,055 414,140 (666,989)

Cash flows from investing activit iesPurchases of investments (10,470,747) (26,063) (8,660) (10,505,470) - Net change in restricted cash - - - - 145,031 Earnings on investments 633,505 26,914 8,845 669,264 65

Net cash flows from investing activities (9,837,242) 851 185 (9,836,206) 145,096

Net change in cash and cash equivalents (256,915) - 2,153,520 1,896,605 510,111

Cash and cash equivalents at beginning of year 256,915 - - 256,915 5

Cash and cash equivalents at end of year -$ -$ 2,153,520$ 2,153,520$ 510,116$

Reconciliation of operating income (loss) to net cash flows from operating activities

Operating income (loss) 631,465$ (115,908)$ (399,380)$ 116,177$ (449,187)$

Adjustments to reconcile operating income (loss) to netcash flows from operating activities:

Depreciation expense 802,543 940,971 482,812 2,226,326 1,197,551 Changes in operating assets and liabilities:

Accounts receivable (347,790) 18,784 11,449 (317,557) (10,466) Accounts payable and accrued expenses 111,981 (461,488) (17,048) (366,555) (36,157)

Net cash flows from operating activit ies 1,198,199$ 382,359$ 77,833$ 1,658,391$ 701,741$

Business-Type Activit ies - Enterprise Funds

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NOTES TO FINANCIAL STATEMENTS December 31, 2018

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Note 1 - Summary of Significant Accounting Policies

The financial statements of the Town of Windsor (the “Town”) have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) as applied to government units. The Governmental Accounting Standards Board (“GASB”) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. The more significant of the Town’s accounting policies are described below.

Reporting Entity

The Town was incorporated in 1890 and adopted its Home Rule Charter during 2003 (the “Charter”). The Charter provides that the Mayor shall be the chief executive officer of the Town, the Town Board shall be the policy making authority, and a Town Manager, to be appointed by the Town Board, shall be the chief administrative official of the Town. The following services are authorized by its charter: general administrative services, public safety (police protection), public works, culture, parks and recreation, community development and water and sewer services. As defined by GAAP established by the GASB, the financial reporting entity consists of the primary government, as well as component units, which are legally separate organizations for which elected officials of the primary government are financially accountable. Financial accountability is defined as:

1) Appointment of a voting majority of the component unit’s governing board, and either, a) the ability to

impose its will by the primary government, or b) there is a potential for the component unit to provide specific financial benefits to, or impose specific financial burdens on, the primary government; or

2) Fiscal dependency on the primary government and there is a potential for the organization to provide

specific benefits to, or impose specific financial burdens on the primary government regardless of whether the organization has (1) a separately elected governing board, (2) a governing board appointed by a higher level of government or (3) a jointly appointed board.

Based on the application of these criteria, the following component units are included in the Town’s reporting entity. Discretely Presented Component Unit The Windsor Downtown Development Authority (“DDA”) was formed in January 2011 by a vote of the downtown business and property owners, and officially approved and adopted as an organization by the Town Board on February 28, 2011. Comprised of a seven member board of directors plus a representative from the Town Board, the DDA is dedicated to revitalizing downtown Windsor while preserving the history and heritage of this thriving community. In November 2011, the Town entered into an intergovernmental agreement with the DDA to provide funding through 2016 from sales tax revenue generated within the DDA boundaries. In March 2016, the Town amended its agreement with the DDA to provide funding through 2021 from sales tax generated within the DDA boundaries. The revenue received from the DDA is from the sales tax revenue and other revenues received from the Town; therefore, the DDA is considered a discretely presented component unit of the Town. Separate financial statements are not issued for the DDA. Blended Component Unit The Windsor Building Authority (the “Authority”) was created as a nonprofit corporation under Colorado law on February 21, 2009. The Authority was created for the purpose of assisting with projects that are beneficial to the Town, such as borrowing or lending funds to assist in the building of Town facilities. Members of the Board of Directors of the Authority are appointed by the Town Board and provide services entirely to the Town. The Town has the ability to modify or approve the Authority’s annual operating budget. The Town also has the ability to appoint, hire, reassign, or dismiss those individuals responsible for the day-to-day operations of the Authority. Separate financial statements are not issued for the Authority.

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Note 1 - Summary of Significant Accounting Policies (Continued) Basic Financial Statements The basic financial statements include both government-wide financial statements (based on the Town as a whole) and fund financial statements. Both the government-wide and fund financial statements categorize activities as either governmental activities or business-type activities. In the government-wide Statement of Net Position, both the governmental and business-type activities columns (a) are presented on a consolidated basis by column, and (b) are reported on a full accrual economic resource basis, which incorporates long-term assets and receivables as well as long-term debt and obligations. The government-wide Statement of Activities demonstrates the degree to which the direct expenses of a given function or activity are offset by program revenues. Direct expenses are those that are clearly identifiable within a specific function or activity. Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or activity, and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or activity. Taxes and other items not properly included among program revenues are reported instead as general revenues. Separate financial statements are provided for governmental funds and proprietary funds. Major individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements.

Measurement Focus, Basis of Accounting, and Financial Statement Presentation Measurement focus refers to what is being measured and basis of accounting refers to when revenues and expenses or expenditures are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurement made, regardless of the measurement focus applied. The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary fund financial statements. Revenues are recognized when earned and expenses are recognized when a liability is incurred, regardless of the time of related cash flows. Property taxes are recognized as revenues 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. 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. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Cost reimbursement grant revenues are considered to be available at the point the expenditure is incurred. Expenditures are recorded when a liability is incurred, as under accrual accounting. Debt service expenditures and expenditures related to compensated absences and claims and judgments are recorded only when payment is due. Property, franchise, and sales taxes and investment income (including unrealized gains and losses) are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. The portion of special assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. All other revenue items are considered to be measurable and available only when the government receives cash.

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Note 1 - Summary of Significant Accounting Policies (Continued) Measurement Focus, Basis of Accounting, and Financial Statement Presentation (Continued)

Governmental funds are used to account for all or most of a government’s general activities, including the collection and disbursement of earmarked funds (special revenue funds), and the capital projects fund. The following are the Town’s major and nonmajor governmental funds:

General Fund - The General Fund (a major fund) is the Town’s general operating fund and is used to account for all financial transactions except those required to be accounted for in another fund. Major revenue sources include local property, sales, and franchise taxes and other intergovernmental revenues. Expenditures include all costs associated with the daily operation of general government, public safety, public works, parks and recreation and community development. Capital Improvement Fund – This major fund is a capital projects fund type which is established to account for financial resources segregated for the acquisition or construction of capital facilities other than those financed by enterprise operations. Community Recreation Center Expansion Fund – This major fund is a special revenue fund type which is funded by a voter-approved increase in sales and use taxes. The expenditures represent the construction and equipping the Windsor Community Recreation Center expansion. In addition, funds will be used to repay the debt obligations and operating and maintaining the Recreation Center. Park Improvement Fund – This nonmajor fund is a special revenue fund type which is established to account for revenues derived from specific taxes or other earmarked revenue sources which finance specific activities as required by law or administrative action, primarily park improvement fees. Community Recreation Center Fund – This nonmajor fund is a special revenue fund type which is funded by sales tax, construction use tax, grants, and facility user fees. The expenditures represent operating and cost of construction. Conservation Trust Fund – This nonmajor special revenue fund was established to account for revenues derived from earmarked revenue sources which finance specific activities as required by law or administrative action.

Proprietary funds focus on the determination of the changes in net position, financial position and cash flows and are classified as enterprise funds or internal service funds. Enterprise funds may be used to account for any activity for which a fee is charged to external users for goods or services. The Town’s major enterprise funds are the Water, Sewer and Storm Drainage Funds. These funds account for the financial transactions related to the water, sewer and storm drainage service operations of the Town.

Internal service funds account for operations that provide services to other departments or agencies of the Town, or to other governments, on a cost-reimbursement basis. The Town has four internal service funds; the Fleet Management Fund, Information Technology Fund, Facility Service Fund, and the Windsor Building Authority.

There are no fiduciary funds included in this report. 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 revenues. Likewise, general revenues include all taxes.

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Note 1 - Summary of Significant Accounting Policies (Continued) Measurement Focus, Basis of Accounting, and Financial Statement Presentation (Continued)

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 Water, Sewer, and Storm Drainage funds and the government’s internal service funds are charges to customers for sales and services. Operating expenses include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. Budgets and Budgetary Accounting An annual budget and appropriation resolution is adopted by the Town Board in accordance with Colorado state statutes. Budgets are adopted on a basis consistent with GAAP, except for the following: proceeds from long-term debt are budgeted as revenue in the proprietary funds; note, lease and bond principal payments are budgeted as expenses in the proprietary funds; and purchases of capital assets are budgeted as capital outlay expenses in the proprietary funds.

On or about October 15, the Town staff submits to the Town Board a proposed operating budget for the fiscal year commencing the following January 1. The operating budget includes proposed expenditures and the means of financing them. Also, public hearings are conducted at a special meeting and at regular Town Board meetings to obtain taxpayer comments. Prior to December 15, the budget is legally adopted by the Town Board. Colorado law requires that all funds have legally adopted budgets and total expenditures for each fund cannot exceed the amount appropriated. The fund level of classification is the level of classification at which expenditures may not legally exceed appropriations. All appropriations lapse at the end of each fiscal year. Appropriations for a fund may be increased provided they are offset by unanticipated resources.

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Note 1 - Summary of Significant Accounting Policies (Continued) Budgets and Budgetary Accounting (Continued) Budgeted amounts reported in the accompanying financial statements are as originally adopted and as amended by the Town Board throughout the year. Following is a summary of the original budget, total revisions and revised budget for the year ended December 31, 2018:

Cash, Cash Equivalents and Temporary Investments To improve cash management, cash received by the Town is pooled and invested. Monies for all funds are maintained in this pool. Individual fund integrity is maintained through the Town’s records. Investments of the Town’s cash management pool and investments with an original maturity of three months or less at the time they are purchased by the Town are presented on the financial statements as cash equivalents. Investments with an initial maturity of more than three months that were not purchased from the pool are reported as investments. Investments Investments are stated at fair value in accordance with GASB Statement No. 72, Fair Value Measurement and Application, based on quoted market values, with the exception of certain external investment pools. These are stated at net asset value or amortized cost. Short-Term Interfund Receivables/Payables During the course of operations, numerous transactions occur between individual funds for goods provided or services rendered. These receivables and payables, if any, are classified as internal balances on the government-wide Statement of Net Position and, classified as interfund receivables or interfund payables on the Balance Sheet (see Note 4).

Original Budget Total Revisions Revised BudgetGovernmental funds:General fund 17,876,535$ -$ 17,876,535$ Special revenue funds:

Community recreation center expansion fund 2,868,243 - 2,868,243 Community recreation center fund 1,372,988 - 1,372,988 Park improvement fund 4,895,069 919,824 5,814,893 Conservation trust fund 623,000 - 623,000

Capital projects funds:Capital improvements fund 11,860,615 11,145,461 23,006,076

Business-type funds: Water fund 13,501,200 5,527,900 19,029,100 Sewer fund 6,108,107 4,139,912 10,248,019 Storm drainage fund 995,444 1,183,064 2,178,508

Internal service funds: Fleet management fund 1,137,238 448,090 1,585,328 Information technology fund 1,439,434 21,053 1,460,487 Windsor building authority 290,165 - 290,165 Facility service fund 840,802 21,053 861,855

Total funds 63,808,840$ 23,406,357$ 87,215,197$

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Note 1 - Summary of Significant Accounting Policies (Continued) Bond Premiums, Discounts and Issuance Costs In the governmental fund statements, bond premiums, discounts, and issuance costs are recognized as current period revenues and/or expenditures. Bond premiums and discounts in the government-wide and proprietary fund statements are deferred and amortized over the life of the bonds using the straight-line method, which approximates the effective-interest method. Issuance costs are expensed as incurred, while bond premiums and discounts are netted against the related debt. Capital Assets Capital assets, which include land, buildings, equipment, vehicles, and furniture and fixtures, are reported in the applicable governmental or business-type activities columns in the government-wide financial statements. Capital assets are defined by the Town as assets with an initial, individual cost of more than $5,000 and an estimated useful life in excess of one year. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets, donated works of arts or similar items, and capital assets received in a service concession arrangement are reported at acquisition 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. Property and equipment of the Town is depreciated using the straight-line method over the following estimated useful lives:

Interest costs incurred that relate to the acquisition or construction of property and equipment acquired with tax-exempt debt is capitalized. The amount of interest to be capitalized is calculated by offsetting interest expense incurred from the date of the borrowing until completion of the project, with interest earned on invested debt proceeds over the same period. Capitalized interest cost is prorated to completed projects based on the completion date of each project. The Town did not capitalize any interest during the year ended December 31, 2018. Impairment of Capital Assets GASB Statement No. 42, Accounting and Financial Reporting for Impairment of Capital Assets and for Insurance Recoveries, establishes accounting and financial reporting standards for impairment of capital assets. A capital asset is considered impaired when its service utility has declined significantly and unexpectedly. The Town is required to evaluate prominent events or changes in circumstances affecting capital assets to determine whether impairment of a capital asset has occurred. Management of the Town has determined that there are no indications of impairment of capital assets as of December 31, 2018. Accrued Compensated Absences Payable In accordance with the provisions of the GASB Statement No. 16, Accounting for Compensated Absences, vested or accumulated vacation pay that is expected to be liquidated with expendable available financial resources is reported as an expenditure and a fund liability of the governmental fund that will pay it. Amounts of vested or accumulated vacation pay that are not expected to be liquidated with expendable available financial resources are reported on the government-wide financial statements. Compensated absences are reported in governmental funds only if they have matured.

Description Governmental

Activities Business-Type

ActivitiesSite improvements 20 years N/ABuildings and improvements 20 years N/AStreets and improvements 20 years N/AParks and improvements 20 years N/AMachinery and equipment 10 years 5 yearsFurniture and fixtures 10 years N/AUtility systems N/A 5 - 50 years

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Note 1 - Summary of Significant Accounting Policies (Continued) Accrued Liabilities and Long-Term Obligations All payables, accrued liabilities and long-term obligations are reported in the government-wide financial statements, and all payables, accrued liabilities and long-term obligations payable from proprietary funds are reported on the proprietary fund financial statements. In general, except for accrued compensated absences, payables and accrued liabilities that will be paid from governmental funds are reported on the governmental fund financial statements regardless of whether they will be liquidated with current financial resources. In general, payments made within sixty days after year-end are considered to have been made with current available financial resources. Bonds payable, accrued compensated absences, and other long-term obligations that will be paid from governmental funds are not recognized as a liability in the fund financial statements until they become due. Deferred Outflows/Inflows of Resources In addition to assets, the Statement of Net Position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element represents a consumption of net position that applies to a future period(s) and will not be recognized as an outflow of resources (expense/expenditure) until then. The Town reports deferred outflows of resources for the deferred loss on refunding and pension-related amounts. See Note 7 for additional information on the pension-related amounts. In addition to liabilities, the Statement of Net Position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element represents an acquisition of net position that applies to a future period(s) and will not be recognized as an inflow of resources (revenue) until that time. The Town reports a deferred inflow of resource relating to property taxes. In addition, the Town reports a deferred gain on refunding. Finally, the Town reports deferred inflows of resources for pension-related amounts. See Note 7 for additional information on the pension-related amounts. Fund Balance In the fund financial statements, fund balances of governmental funds are as follows:

Nonspendable – amounts that cannot be spent either because they are not in spendable form or because they are legally or contractually required to be maintained intact. Restricted – amounts that can be spent only for specific purposes because of constitutional provisions, charter requirements or enabling legislation or because of constraints that are externally imposed by creditors, grantors, or the laws or regulations of other governments. Committed – amounts that can be used only for specific purposes determined by a formal action of the Town Board (the “Board”). The Board is the highest level of decision making authority for the Town. Commitments may be established, modified, or rescinded only through resolutions approved by the Board. Assigned – amounts that do not meet the criteria to be classified as restricted or committed but that are intended to be used for specific purposes. The Board has authority to assign amounts for specific purposes. Assignments may be established, modified, or rescinded only through resolutions approved by the Board.

Unassigned – amounts that are available for any purpose. Only the General Fund reports a positive unassigned fund balance. In other governmental funds other than the General Fund, if expenditures incurred for specific purposes exceed the amounts that are restricted, committed, or assigned to other purposes, the funds would report a negative unassigned fund balance; however, any amount reported as assigned fund balance would have to be eliminated before a negative unassigned fund balance could be reported.

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Note 1 - Summary of Significant Accounting Policies (Continued)

Fund Balance (Continued) The unassigned fund balance includes the amount established as a reserve in the General Fund. In accordance with Resolution No. 2017-50, the Town has established a reserve in the General Fund equivalent to two months of general fund expenditures; at December 31, 2018, this balance was approximately $2.97 million. When an expenditure is incurred for purposes for which both restricted and unrestricted fund balances are available, it is the Town’s policy to use restricted funds first. When an expenditure is incurred for which committed, assigned, or unassigned fund balances are available, the Town considers amounts to have been spent first out of committed funds, then assigned funds, and finally unassigned funds, as needed, unless the Town has provided otherwise in its commitment or assignment actions. Net Position In the government-wide and proprietary fund financial statements, net position is classified in the following categories:

Net Investment in Capital Assets – This category groups all capital assets, including infrastructure, into one component of net position. Accumulated depreciation and the outstanding balances of debt that are attributable to the acquisition, construction or improvement of these assets reduce this category.

Restricted Net Position – This category presents external restrictions imposed by creditors, grantors, contributors or laws or regulations of other governments and restrictions imposed by law through constitutional provisions or enabling legislation.

Unrestricted Net Position – This category represents the net position of the Town, which is not restricted for any project or other purpose. A deficit will require future funding.

If applicable, the Town applies restricted resources when an expense is incurred for purposes for which both restricted and unrestricted resources are available. Contribution of Capital Contributions of capital in proprietary funds financial statements arise from outside contributions of capital assets, or from grants or outside contributions of resources to capital acquisition and construction. Interfund Transactions Interfund services provided and used are accounted for as revenues, expenditures or expenses. Transactions that constitute reimbursements to a fund for expenditures/expenses initially made from it that are properly applicable to another fund, are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/expenses in the fund that is reimbursed. All other interfund transactions are reported as transfers (See Note 4). Extraordinary and Special Items Extraordinary items are transactions or events that are both unusual in nature and infrequent in occurrence. Special items are transactions or events that are within the control of the Town Board and that are either unusual in nature or infrequent in occurrence. There were no extraordinary or special items during 2018.

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Cash, Cash Equivalents and Investments Fair Value

Weighted Average

Maturity Date (in days)

Cash on hand 4,285$ - N/ACash held by County Treasurer 47,613 - N/ACash in financial institution 7,327,149 - N/ACash in financial insitution - discretely presented component unit 206,455 - N/ACertificates of deposit 8,888,953 1,051 11.72%U.S. Treasury notes 427,770 216 0.56%FHLMC 37,391,050 2,222 49.32%FNMA 18,930,935 947 24.97%Other U.S. instrumentalities 2,724,742 244 3.59%Municipal bonds 248,681 8 0.33%Corporate securities 649,519 1,551 0.86%CSIP 2,017,088 49.38 2.66%COLOTRUST 2,577,152 N/A 3.40%CSAFE 1,964,614 N/A 2.59%

Total cash, cash equivalents and investments 83,406,006$

Concentration of Credit Risk

Note 1 - Summary of Significant Accounting Policies (Continued) Pensions

The Town contributes to the Statewide Defined Benefit Plan (“SWDB”), a cost-sharing multiple-employer defined benefit pension plan administered by the Fire and Police Pension Association of Colorado (“FPPA”). For purposes of measuring the net pension asset or liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the SWDB plan and additions to/deductions from the SWDB plan fiduciary net position have been determined on the same basis as they are reported by the FPPA. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments at FPPA are reported at fair value. Accounting Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Note 2 - Cash, Cash Equivalents and Investments

The composition of the Town and discretely presented component unit’s cash, cash equivalents and investments, including restricted cash and investments, on December 31, 2018, is as follows:

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Note 2 - Cash, Cash Equivalents and Investments (Continued)

Custodial Credit Risk – Deposits For deposits, custodial credit risk is the risk that in the event of a bank failure, the Town’s deposits may not be returned to it. The Town’s bank accounts and certificates of deposit as of December 31, 2018 were entirely covered by federal depository insurance or by collateral held by the Town’s custodial banks under provisions of the Colorado Public Deposit Protection Act (the “PDPA”). The PDPA requires financial institutions to pledge collateral having a market value of at least 102% of the aggregate public deposits not insured by federal depository insurance. Eligible collateral includes municipal bonds, U.S. government securities, mortgages, and deeds of trust. Custodial Credit Risk - Investments For investments, custodial credit risk is the risk that in the event of a failure of a counter party, the Town would not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. The Town does not have a specific policy for custodial credit risk. As of December 31, 2018, the Town had no investments exposed to custodial credit risk outside of its investments in the Colorado Secure Assets Fund and COLOTRUST discussed below. Credit Risk - Investments State statutes and the Town’s investment policies authorize the Town to invest in obligations of the U.S. Treasury and U.S. agencies, obligations of the State of Colorado or of any county, school, authority, and certain towns and cities therein, notes or bonds secured by insured mortgages or trust deeds, obligations of national mortgage associations, and certain repurchase agreements.

Fair Value – Investments The Town categorizes its fair value measurement within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are significant unobservable inputs.

Cash, Cash Equivalents and Investments S&P Rating Moody Rating

FHLMC NR to AA+ NR to AaaFNMA NR to AA+ NR to AaaOther U.S. instrumentalities NR to AA+ NR to AaaMunicipal bonds AA- to AAA Aa1 to Aa3Other municipal bonds AA- to AA Aa2Corporate securities AA+ to AAA AaaOther corporate securities NR NRCOLOTRUST AAAm N/ACSAFE AAAm N/AUS Treasury Notes NR Aaa

Cash, cash equivalent and investments per the government-wide Statement of Net Position are as follows:

Cash and cash equivalents 6,745,916$ Investments 75,674,882 Restricted investments 145,622 Cash and cash equivalents - discretely presented component unit 839,586

Total cash, cash equivalents and investments 83,406,006$

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Note 2 - Cash, Cash Equivalents and Investments (Continued) Fair Value – Investments (Continued) The Town’s investment balances at fair value hierarchy are as follows:

Debt securities classified in Level 1 and 2 are valued using the following approaches:

U. S. Treasury notes, FHLMC, FNMA, other U.S. instrumentalities: quoted prices for identical

securities in markets that are not active; Corporate securities: quoted prices for identical securities in active markets; Municipal bond: quoted prices for similar securities in active markets; Negotiable Certificates of Deposits: matrix pricing based on securities’ relationship to benchmark

quoted prices.

Local Government Investment Pools At December 31, 2018, the Town had invested $2,577,152 in the Colorado Local Government Liquid Asset Trust (the “Trust”), an investment vehicle established for local government entities in Colorado to pool surplus funds. The State Securities Commission administers and enforces all State statutes governing the Trust. The Trust operates similarly to a money market fund and each share is equal in value to $1. The Trust offers shares in two portfolios, COLOTRUST PRIME and COLOTRUST PLUS+. COLOTRUST PRIME invests only in U.S. Treasury and government agencies. COLOTRUST PLUS+ can invest in U.S. Treasury, government agencies, and in the highest-rate commercial paper. A designated custodial bank serves as custodian for the Trust’s portfolios pursuant to a custodian agreement. The custodian acts as a safekeeping agent for the Trust’s investment portfolios and provides services as the depository in connection with direct investments and withdrawals. The custodian’s internal records segregate investments owned by the Trust. The Trust is rated AAAm by Standard and Poor’s and is measured at net asset value. There are no unfunded commitments, the redemption frequency is daily and there is no redemption notice period.

In addition, at December 31, 2018, the Town had invested $1,964,614 in CSAFE, an investment vehicle established for local government entities in Colorado to pool surplus funds for investment purposes. CSAFE is a highly liquid fund operating similarly to a money market-like fund and each share is equal in value to $1.00. CSAFE measures all of its investment at amortized cost in accordance with GASB Statement No. 79, Certain External Investment Pools and Pool Participants. CSAFE invests primarily in United States Treasuries, United States Agencies, Primary Dealer Repurchase Agreements, highly rated commercial paper, AAAm rated money market funds, highly rated corporate bonds and Colorado Depositories. The weighted average maturity of the portfolio shall not exceed 60 days and the weighted average life of the portfolio shall not exceed 120 days. CSAFE is rated AAAm by Standard & Poor’s. In addition, at December 31, 2018, the Town had invested $2,017,088 in CSIP, an investment vehicle established for local government entities in Colorado to pool surplus funds for investment purposes. CSIP is a highly liquid fund

Investments Level 1 Level 2 Level 3

Certificates of deposit -$ 8,888,953$ -$ 8,888,953$ U.S. Treasury notes - 427,770 - 427,770 FHLMC - 37,391,050 - 37,391,050 FNMA - 18,930,935 - 18,930,935 Other U.S. instrumentalities - 2,724,742 - 2,724,742 Municipal bonds - 248,681 - 248,681 Corporate securities 649,519 - - 649,519 Total 649,519$ 68,612,131$ -$ 69,261,650 Investments at net asset value - CISP 2,017,088 Investments at net asset value - ColoTrust 2,577,152 Investments at amortized cost - CSAFE 1,964,614 Total investments 75,820,504$

Total

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operating similarly to a money market-like fund and each share is equal in value to $1.00. CSIP measures all of its investment at net asset value in accordance with GASB Statement No. 79, Certain External Investment Pools and Pool Participants. CSIP invests primarily in United States Treasuries, United States Agencies, Primary Dealer Repurchase Agreements, highly rated commercial paper, AAAm rated money market funds, highly rated corporate bonds and Colorado Depositories. CSIPis rated AAAm by Standard & Poor’s.

Note 2 - Cash, Cash Equivalents and Investments (Continued)

Interest Rate Risk Colorado Revised Statutes and the Town’s investment policies limit investment maturities to five years or less from the date of purchase. This limit on investment maturities is a means of limiting exposure to fair value losses arising from increasing interest rates. The approximate weighted average yield to maturity for investments held at December 31, 2018 is 1.5% and the weighted average remaining term of investments is approximately 1,466 days.

Note 3 - Receivables

Receivables at December 31, 2018, consist of the following:

Note 4 - Interfund Transfers and Balances Receivable/Payable

Transfers are used to (1) move revenues from the fund that statute or budget requires to collect them to the fund that statute or budget requires to expend them, (2) move receipts restricted to debt service from the funds collecting the receipts to the debt service funds as debt service payments become due, and (3) use unrestricted revenues collected in the General Fund to finance various programs accounted for in other funds in accordance with budgetary authorizations. Contributed capital between the governmental funds and proprietary funds is shown within the transfer line for financial statement presentation.

Receivables GeneralCapital

Improvement

Community Center

ExpansionOther

Governmental Enterprise Total

Taxes 6,793,512$ -$ -$ -$ -$ 6,793,512$ Trade accounts 1,263,984 847,180 357,787 97,005 515,636 3,081,592 Intergovernmental 85,993 10,768 - 33,434 - 130,195 Other - - - 10,467 202,769 213,236

Total 8,143,489$ 857,948$ 357,787$ 140,906$ 718,405$ 10,218,535$

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Note 4 - Interfund Transfers and Balances Receivable/Payable (Continued) The following table summarizes interfund transfers for the year ended December 31, 2018:

The Town’s interfund receivables and payables at December 31, 2018 (at the fund level) are shown below. These amounts represent short-term receivables and payables. The balances result from (1) the need to cover the temporary negative cash positions in individual funds and (2) to record a loan from the Water Fund to the Capital Improvement Fund for the interchange improvement project at I-25 and State Highway 392. The loan is to be repaid over 20 years at .467% interest and has a balance at December 31, 2018 of $764,910.

General FundCapital

Improvement Fund

Other Governmental

Funds Water Fund Sewer Fund Storm Drainage TotalTransfers in:

Governmental funds:General -$ -$ 29,069$ 594,841$ 294,133$ -$ 918,043$ Capital Improvement - - - - - 102,382 102,382 Other governmental - - - - - - -

Total governmental funds: - - 29,069 594,841 294,133 102,382 1,020,425

Proprietary funds: Enterprise funds:

Water - 65,833 - 199,869 - 199,869 465,571 Internal service funds 145,080 145,080 - - - - 290,160

Total proprietary funds 145,080 210,913 - 199,869 - 199,869 755,731

Total transfers 145,080$ 210,913$ 29,069$ 794,710$ 294,133$ 302,251$ 1,776,156$

Transfers Out

Receivable Fund Payable Fund AmountPark Improvement Fund Water 9,893,197$ Water Storm Drain 203,338 Water Capital Improvement 561,572 Storm Drainage Water 535,041 General Capital improvement 5,596,002 General Water 3,966,455 Sewer Water 10,148,030 Community Center Expansion Water 2,240,821 Community Center Expansion Info Tech 19,173 Community Center Expansion Windsor Building Authority 2,378,705

35,542,334$

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Note 5 - Capital Assets Capital asset activity for the year ended December 31, 2018 for governmental activities was as follows:

Depreciation expense was charged to function/programs of the Town’s governmental activities as follows:

Beginning Balance Increases

(Decreases) Transfers Ending Balance

Governmental activities:Capital assets, not being depreciated:

Land and water rights 3,248,036$ 1,380,438$ (676,489)$ 3,951,985$ Construction in progress 8,519,419 742,522 (8,131,040) 1,130,901

Total capital assets, not being depreciated 11,767,455 2,122,960 (8,807,529) 5,082,886

Capital assets, being depreciated:Site improvements 12,480,080 - (1,880,102) 10,599,978 Buildings and improvements 36,113,539 7,134,705 - 43,248,244 Streets and improvements 91,099,074 12,242,659 - 103,341,733 Parks and improvements 16,606,047 415,853 (1,763,094) 15,258,806 Machinery and equipment 12,725,917 1,416,724 (634,886) 13,507,755 Furniture and fixtures 1,009,406 32,982 - 1,042,388

Total capital assets, being depreciated 170,034,063 21,242,923 (4,278,082) 186,998,904

Less accumulated depreciation for: Site improvements (5,633,587) (559,793) 647,540 (5,545,840) Buildings and improvements (12,274,814) (1,861,400) - (14,136,214) Streets and improvements (43,789,999) (4,476,090) - (48,266,089) Parks and improvements (8,322,609) (748,264) 1,315,023 (7,755,850) Machinery and equipment (9,248,520) (1,041,403) 346,613 (9,943,310) Furniture and fixtures (530,083) (58,722) - (588,805)

Total accumulated depreciation (79,799,612) (8,745,672) 2,309,176 (86,236,108)

Total capital assets, being depreciated, net 90,234,451 12,497,251 (1,968,906) 100,762,796

Governmental activities capital assets, net 102,001,906$ 14,620,211$ (10,776,435)$ 105,845,682$

Governmental Activities: General government 754,812$ Public safety 377,406 Public works 4,906,279 Parks and recreation 1,132,218 Community development 377,406 Capital assets held by internal service funds are

charged to the various functions based on usage 1,197,551

Total depreciation expense - governmental activities 8,745,672$

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Note 5 - Capital Assets (Continued)

Capital asset activity for the year ended December 31, 2018 for business-type activities was as follows:

Depreciation expense was charged to function/programs of the Town’s business-type activities as follows:

Capital asset activity for the Downtown Development Authority, the discretely presented component unit, as of December 31, 2018, is as follows:

The Downtown Development Authority charged depreciation expense of $1,581 as of December 31, 2018.

Beginning Balance Increases

(Decreases) Transfers Ending Balance

Business-type activities:

Capital assets, not being depreciated:Construction in progress 12,234,866$ 3,737,872$ (10,744,090)$ 5,228,648$ Land and water rights 42,887,531 2,765,006 - 45,652,537

Total capital assets, not being depreciated 55,122,397 6,502,878 (10,744,090) 50,881,185 Capital assets, being depreciated:

Utility systems and equipment 101,634,443 20,932,003 - 122,566,446 101,634,443 20,932,003 - 122,566,446

Less accumulated depreciation for: Utility systems and equipment (29,435,916) (2,226,326) - (31,662,242)

Total accumulated depreciation (29,435,916) (2,226,326) - (31,662,242)

Total capital assets, being depreciated, net 72,198,526 18,705,677 - 90,904,204

Business-type activities capital assets, net 127,320,923$ 25,208,555$ (10,744,090)$ 141,785,389$

Business-type activities:Water 802,543$ Sewer 940,971 Storm drainage 482,812

Total depreciation expense - business-type activities 2,226,326$

Beginning Balance Increases (Decreases) Ending Balance

Capital assets, not being depreciated:Land 213,809$ 507,961$ -$ 721,770$ Construction in progress 10,000 (10,000) -

Total capital assets, not being depreciated 223,809 507,961 (10,000) 721,770 Capital assets, being depreciated:

Site improvements 31,625 - - 31,625

Less accumulated depreciation for: Site improvements (7,116) (1,581) - (8,697)

Total capital assets, being depreciated, net 24,509 (1,581) - 22,928

Discretely presented component unit capital assets, net 248,318$ 506,380$ (10,000)$ 744,698$

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Note 6 - Long-Term Debt Governmental Activities Revenue Bonds On January 24, 2012, the Town issued $3,705,000 in sales and use tax refunding revenue bonds and defeased the 2002 revenue bonds by placing the proceeds of the new bonds totaling $3,787,760 (after payment of $107,184 in underwriting fees, insurance and other issuance costs), in an irrevocable trust to provide for all future debt payments of the old bonds. Accordingly, the trust assets and the liability for the defeased debt are not included in the Town’s financial statements. The 2012 sales and use tax refunding revenue bonds are due serially on December 1, with interest from 2.0% to 3.0% payable semiannually; these bonds mature on December 1, 2023. The outstanding principal on the bonds is $1,620,000 as of December 31, 2018. On December 7, 2017, the Town issued $15,480,000 in a sales and use tax refunding revenue loan and defeased the 2015 revenue bonds by placing the proceeds of the new loan totaling $16,246,210 (after payment of $117,360 in issuance costs), in an irrevocable trust to provide for all future debt payments of the old bonds. Accordingly, the trust assets and the liability for the defeased debt are not included in the Town’s financial statements. The outstanding principal of the bonds is $14,532,000 at December 31, 2018. The deferred gain on refunding of $295,488 is the difference between the reacquisition price (funds required to refund the old debt) and the net carrying amount of the old debt net of accumulated amortization. This difference, reported in the accompanying financial statements as a deferred inflow of resources, will be charged to operations through 2031 using the effective-interest method. The 2017 sales and use tax refunding revenue loan is due serially on December 1, with interest of 2.610% payable semiannually; these bonds mature on December 1, 2031. USDA Community Facilities Fund In 2010, the Authority entered into a Letter of Conditions with the United States Department of Agriculture (“USDA”), whereby the Construction Loan entered into in previous years was fully repaid and converted to a term note payable (the “Term Loan”). The Term Loan is payable in monthly principal and interest payments over a 40 year term, accruing interest at an interest rate of 3.75%. The Term Loan matures on December 17, 2050. A summary of changes in governmental activities long-term debt obligations is as follows:

Compensated absences for governmental activities have typically been liquidated in the General Fund.

Beginning Ending Due inBalance Additions Reductions Balance One Year

2012 Refunding sales and use tax bonds 1,945,000$ -$ (325,000)$ 1,620,000$ 340,000$ USDA Community Facilities Loan 2,739,670 - (188,158) 2,551,512 44,721 2017 Refunding sales and use tax loan 15,480,000 - (948,000) 14,532,000 953,000 Bond premium 55,056 - (16,361) 38,695 - Compensated absences 601,043 544,212 (562,504) 582,751 524,964

Total long-term debt 20,820,769$ 544,212$ (2,040,023)$ 19,324,958$ 1,862,685$

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Note 6- Long-Term Debt (Continued) The annual requirements to amortize governmental activities debt outstanding as of December 31, 2018, are as follows:

Business-type Activities Colorado Water Conservation Board (“CWCB”) Loan In January 2014, the Town entered into a loan agreement with the CWCB for the Kyger Reservoir Project for a principal amount of $4,545,000. The loan accrues interest at 2.75% and includes a service fee of 1% of the project amount. Principal and interest shall be payable in equal loan payments, with the first payment due and payable one year from the date in which the CWCB determines the Project is substantially complete and annual thereafter. In February 2017, CWCB determined that the Project was substantially completed; therefore, annual payments of $298,472 will begin in February 2018 through maturity of February 2037. The outstanding loan balance as of December 31, 2018 was $4,371,509.

Water Pollution Control Revolving Loan In November 2011, the Town entered into a loan agreement (the “Agreement”) with the Colorado Water Resource and Power Development Authority (“CWR&PDA”) for a principal amount of $2,615,000, plus a premium of $495,543 for total proceeds of $3,110,543. The loan accrues interest at 1.94% and is payable in semi-annual principal and interest payments, beginning on February 1, 2014 with a maturity date of August 1, 2027. The loan is secured by the net revenues of the ownership and operation of the sanitary sewer collection and treatment system, as defined within the Agreement. The outstanding loan balance as of December 31, 2018 was $1,819,935.

Year EndingDecember 31 Principal Interest Total

2019 1,337,721$ 528,244$ 1,865,965$ 2020 1,374,427 491,465 1,865,892 2021 1,410,199 453,667 1,863,866 2022 1,450,038 414,876 1,864,914 2023 1,308,947 374,984 1,683,931

2024-2028 6,003,016 1,385,156 7,388,172 2029-2033 4,150,931 574,473 4,725,404 2034-2038 423,178 302,222 725,400 2039-2043 510,302 215,098 725,400 2044-2048 615,362 110,038 725,400 2049-2053 119,391 9,905 129,296

Total 18,703,512$ 4,860,128$ 23,563,640$ Draft

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Note 6 - Long-Term Debt (Continued) Bank of Colorado Loan On August 2, 2017, the Town entered into a loan agreement with the Bank of Colorado for a principal amount of $3,401,550. The proceeds of the loan were used to pay off the 2009 CWCB loans. The Bank of Colorado loan is due monthly, with interest of 3.25%; this note matures on August 1, 2027. The outstanding principal on the loan is $3,010,377 as of December 31, 2018. The Town refunded the 2009 loans to reduce its total debt service payments over the next 11 years by approximately $999,000. The advance refunding resulted in an economic gain (difference between the present values of the debt service payments of the debt service payments on the old and new debt) of approximately $624,000. A summary of changes in business-type activities long-term debt obligations is as follows:

The annual requirements to amortize all business-type activities debt outstanding as of December 31, 2018, are as follows:

Note 7 - Employees’ Retirement Plans

Defined Contribution Plan - The Town contributes to a single-employer defined contribution money purchase pension plan (the “Employees’ Retirement Plan”) on behalf of its employees. The contribution requirements of the Plan participants and the Town are established and may be amended by the Town Board. The Employee’s Retirement Plan is administered by the ICMA Retirement Corporation (“ICMA-RC”) and is a qualified Section 401(a) plan. A defined contribution pension plan has terms that specify how contributions to an individual’s account are to be determined rather than the amount of pension benefits the individual is to receive. In a defined contribution plan, the pension benefits a participant will receive depend only on the amount contributed to the plan plus earnings on investments of those contributions.

AmountsBeginning Ending Due inBalance Additions Reductions Balance One Year

CWCB Loans 4,545,000$ -$ (173,491)$ 4,371,509$ 178,262$ CWR&PDA Loan 2,010,255 - (190,320) 1,819,935 196,268 Bank of Colorado Loan 3,305,082 - (294,705) 3,010,377 305,151 Compensated absences 71,022 23,135 (32,898) 61,259 54,744

Total long-term debt 9,931,359$ 23,135$ (691,414)$ 9,263,080$ 734,425$

Year EndingDecember 31 Principal Interest Total

2019 679,681$ 229,261$ 908,942$ 2020 694,545 212,227 906,772 2021 710,370 194,549 904,919 2022 726,447 176,867 903,314 2023 748,979 158,787 907,766

2023-2028 3,290,486 518,143 3,808,629 2029-2033 1,235,177 257,213 1,492,390 2034-2038 1,116,136 77,774 1,193,910

Total 9,201,821$ 1,824,821$ 11,026,642$

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Note 7 - Employees’ Retirement Plans (Continued) All full-time employees who have been employed at least one year are eligible to participate in the Employees’ Retirement Plan. The Town contributes 4% of the employee’s annual salary to the Employee’s Retirement Plan. In addition, if the employee chooses to contribute 2% of their annual salary to the Town’s 457 Deferred Compensation Retirement Plan (the “457 Plan”), the Town contributes an additional 2% to the Employees’ account for a total Town contribution of 6%.

As of December 31, 2018, there were 114 plan members. The following table shows payroll and contribution related data for the years ending December 31:

Defined Benefit Police Pension Plan - The Town contributes to the Supplemental Social Security Employers portion of the Statewide Defined Benefit Plan, a cost-sharing multiple-employer defined benefit pension plan administered by FPPA. The Statewide Defined Benefit Plan provides retirement benefits for members and beneficiaries. Death and disability coverage is provided for members through the Statewide Death and Disability Plan, which is also administered by the FPPA. This is a non-contributory plan. All sworn police officers of the Town are members of the Plan. Title 31, Article 30 of the CRS, as amended, assigns the authority to establish benefit provisions to the state legislature. The Plan became effective January 1, 1980 and as of December 31, 2017 has 203 participating employer fire and police departments. FPPA issues a publicly available annual financial report that includes financial statements and required supplementary information for both the Statewide Defined Benefit Plan and the Statewide Death and Disability Plan. That report may be obtained on FPPA’s website at http://www.fppaco.org. Benefits provided. The annual normal retirement benefit is 2 percent of the average of the member’s highest three years’ base salary for each year of credited service up to ten years, plus 2.5 percent for each year of service thereafter. The benefit earned prior to January 1, 2007 for members of affiliated Social Security employers will be reduced by the amount of Social Security income payable to the member annually. Effective January 1, 2007, members currently covered under Social Security will receive half the benefit when compared to the Statewide Defined Benefit Plan. Benefits paid to retired members are evaluated and may be re-determined every October 1. The amount of any increase is based on the Board’s discretion and can range from 0 to the higher of 3 percent or the Consumer Price Index. In addition, upon retirement a member may receive additional benefits credited to the member’s “Separate Retirement Account” each year after January 1, 1988. These are attributable to contributions in excess of the actuarially determined pension cost and the allocation of the net Fire & Police Members’ Benefit Investment Fund earnings and losses thereon. Members do not vest in amounts credited to their Separate Retirement Account until retirement, and the Plan may use such stabilization reserve amounts to reduce pension cost in the event such cost exceeds contributions. It was previously mentioned that reentry members have a higher contribution rate. As a result their Separate Retirement Account (“SRA”) has two components; the standard SRA and the reentry SRA. The component of a member’s SRA attributable to the higher contribution rate is considered the reentry SRA. The reentry SRA cannot be used to subsidize the costs for the non-reentry members. Effective July 1, 2016, the standard Separate Retirement Account contribution rate for members of the Fire & Police SWDB was set at 0 percent. The reentry SRA contribution rate was set at 3.70 percent.

Total Total Covered TownYear Payroll Payroll Contribution

2018 10,420,147$ 7,594,292$ 426,224$ 2017 9,356,637 7,157,295 390,656 2016 8,248,289 6,303,747 356,081 2015 7,169,699 5,599,763 259,378 Draft

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Note 7 - Employees’ Retirement Plans (Continued) A member is eligible for an early retirement at age 50 or after 30 years of service. The early retirement benefit equals the normal retirement benefit reduced on an actuarially equivalent basis. Upon termination, an employee may elect to have member contributions, along with 5 percent as interest, returned as a lump sum distribution. Alternatively, a member with at least five years of accredited service may leave contributions with the Plan and remain eligible for a retirement pension at age 55 equal to 2 percent of the member’s average highest three years’ base salary for each year of credited service up to ten years, plus 2.5 percent for each year of service thereafter.

A member may elect to participate in the deferred retirement option plan (“DROP”) after reaching eligibility for normal retirement, early retirement, or vested retirement and age 55. A member can continue to work while participating in the DROP but must terminate employment within 5 years of entry into DROP. The member’s percentage of retirement benefit is determined at the time of entry into the DROP. The monthly payments that begin at entry into the DROP are accumulated in a DROP account until the member terminates service, at which time the DROP accumulated benefits can be paid as periodic installments, a lump sum, or if desired, a member may elect to convert the DROP to a lifetime monthly benefit with survivor benefits. While participating in the DROP, the member continues to make pension contributions that are credited to the DROP. Effective January 1, 2003, the member shall self-direct the investments of their DROP funds. The DROP balance invested with the asset custodian at December 31, 2017 was $74,738,493. This amount was not included in the SWDBP Net Position. Contributions. The SWDB sets contribution rates at a level that enables all benefits to be fully funded at the retirement date of all members. Contribution rates for the SWDB are set by state statute. Employer contribution rates can only be amended by state statute. Member contribution rates can be amended by state statute or election of the membership. Members of the SWDB and their employers are contributing at the rate of 9.5 percent and 8.0 percent, respectively, of base salary for a total contribution rate of 17.5 percent in 2017. In 2014, the members elected to increase the member contribution rate to the SWDB beginning in 2015. Member contribution rates will increase 0.5 percent annually through 2022 to a total of 12.0 percent of base salary. Employer contributions will remain at 8.0 percent resulting in a combined contribution rate of 20.0 percent in 2022. Contributions from members and employers of departments reentering the system are established by resolution and approved by the FPPA Board of Directors. The reentry group has a combined contribution rate of 20.5 percent of base salary in 2015. It is a local decision as to whether the member or employer pays the additional 4 percent contribution. Per the 2014 member election, the reentry group will also have their required member contribution rate increase 0.5 percent annually beginning in 2015 through 2022 for a total combined member and employer contribution rate of 24 percent in 2022. The contribution rate for members and employers of affiliated social security employers is 4.75 percent and 4.0 percent, respectively, of base salary for a total contribution rate of 8.75 percent in 2017. Per the 2014 member election, members of the affiliate social security group will have their required contribution rate increase 0.25 percent annually beginning in 2015 through 2022 to a total of 6.0 percent of base salary. Employer contributions will remain at 4.0 percent resulting in a combined contribution rate of 10.0 percent in 2022. Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions. At December 31, 2018, the Town reported a net pension asset of $220,987 for its proportionate share of the net pension asset. The net pension asset was measured as of December 31, 2017, and the total pension liability used to calculate the net pension asset was determined by an actuarial valuation as of that date. The Town’s proportion of the net pension liability was based on a projection of the Town’s long-term share of contributions to the pension plan relative to the projected contributions of all participating departments, actuarially determined. At December 31, 2017, the City’s proportion was 0.1536 percent, which was a increase of .0009 from its proportion measured as of December 31, 2016.

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Note 7 - Employees’ Retirement Plans (Continued) For the year ended December 31, 2017, the Town recognized pension expense of $85,356. At December 31, 2018, the Town reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

The $88,669 reported as deferred outflows of resources related to pensions resulting from Town contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended December 31, 2019. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows:

Actuarial assumptions. The actuarial valuations for the plan were used to determine the total pension liability and actuarially determined contributions for the fiscal year ending December 31, 2017. The valuations used the following actuarial assumption and other inputs:

Actuarial Method Entry Age Normal Amortization Method Level % of Payroll, Open Amortization Period 30 Years Long-term investment rate of return

7.5%

Projected salary increases 4.0 – 14.0 percent Cost of Living Adjustment 0.0 percent Inflation 2.5 percent

Deferred Outflows of Resources

Deferred Inflows of Resources

159,363$ 2,449$ 33,295 -

- 75,033

8,239 7,910 88,669 -

289,566$ 85,392$

Differences between expected and actual experienceChanges of assumptions or other inputs

Town contributions subsequent to the measurement date

Net difference between projected and actual earnings on pension plan investmentsChanges in proportion and differences between contributions recognized and proportionate share of contributions

Year Ended December 31, Amortization

2019 30,969$ 2020 27,538 2021 (5,899) 2022 11,475 2023 16,021 Thereafter 35,401

115,505$

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Note 7 - Employees’ Retirement Plans (Continued) Effective January 1, 2016, the post-retirement mortality tables for non-disabled retirees is a blend of the Annuitant and Employee RP-2014 generational mortality tables with blue collar adjustment projected with Scale BB. The occupationally disabled post-retirement mortality assumption uses the same table as used for healthy annuitants, except there is a three year set-forward, meaning a disabled member age 70 will be valued as if they were a 73 year old healthy retiree. The totally disabled post-retirement mortality assumption uses the RP-2014 generational mortality tables for disabled annuitants, except an additional provision to apply a minimum 3% mortality probability to males and 2% mortality probability for females is included to reflect substantial impairment for this population. The pre-retirement off-duty mortality tables are adjusted to 55% of the RP-2014 mortality tables for active employees. The on-duty mortality rate is 0.00020. The long-term expected rate of return on pension plan investments was determined using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighing the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. Best estimates of arithmetic real rates of return for each major asset class included in the Fund’s target asset allocation as of December 31, 2017 are summarized in the following table:

Asset Class Target Allocation

Long Term Expected Rate of Return

Global Equity 37% 8.33% Equity Long/Short 9% 7.15% Illiquid Alternatives 24% 9.70% Fixed Income 15% 3.00% Absolute Return 9% 6.46% Managed Futures 4% 6.85% Cash 2% 2.26% Total 100.0%

*While the expected inflation exceeds the expected rate of return for cash, a 0.0 percent real rate of return is utilized.

Discount rate. The discount rate used to measure the total pension liability was 7.50 percent. The projection of cash flows used to determine the discount rate assumed that contributions from participating employers will be made based on the actuarially determined rates based on the Board’s funding policy, which establishes the contractually required rates under Colorado statutes. Based on those assumptions, the SWDBP fiduciary net position was projected to be available to make all the projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. Projected benefit payments are required to be discounted to their actuarial present values using a Single Discount Rate that reflects (1) a long-term expected rate of return on pension plan investments (to the extent that the plan’s fiduciary net position is projected to be sufficient to pay benefits) and (2) tax-exempt municipal bond rate based on an index of 20-year general obligation bonds with an average AA credit rating as of the measurement date (to the extent that the plan’s projected fiduciary net position is not sufficient to pay benefits). For the purpose of this valuation, the expected rate of return on pension plan investments is 7.50%; the municipal bond rate is 3.31% (based on the weekly rate closest to but not later than the measurement date of the “state & local bonds” rate from Federal Reserve statistical release (H.15)); and the resulting Single Discount Rate is 7.50%.

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Note 7 - Employees’ Retirement Plans (Continued) Sensitivity of the Town’s proportionate share of the net pension liability to changes in the discount rate. The following presents the Town’s proportionate share of the net pension liability/(asset) calculated using the discount rate of 7.50 percent, as well as what the Town’s proportionate share of the net pension liability/(asset) would be if it were calculated using a discount rate that is 1-percentage point lower (6.50 percent) or 1-percentage-point higher (8.50 percent) than the current rate:

1.00% Decrease Current Discount Rate 1.00% Increase Town’s proportionate share of the net pension liability/(asset)

$240,589 $(220,987) $(604,266)

Pension plan fiduciary net position. Detailed information about the pension plan’s fiduciary net position is available in the separately issued Fire & Police Pension Association of Colorado financial report.

Note 8 - Contingency

The Town is self insured for property and liability insurance. In order to mitigate risk, the Town is a member of the Colorado Intergovernmental Risk Sharing Agency (“CIRSA”) and Colorado Intergovernmental Risk Sharing Agency Workmen's Compensation (“CIRSA/WC”). CIRSA and CIRSA/WC have a legal obligation for claims against their members to the extent that funds are available in their annually established loss fund and amounts are available from insurance providers under excess specific and aggregate insurance contracts. Losses incurred in excess of loss funds and amounts recoverable from excess insurance are direct liabilities of the participating members. CIRSA and CIRSA/WC have indicated that the amount of any excess losses would be billed to members in proportion to their contributions in the year such excess occurs, although they are not legally required to do so. Additionally, the Town may receive credit on future contributions in the event of a surplus. The ultimate liability to the Town resulting from claims not covered by CIRSA and CIRSA/WC is not presently determinable. Management is of the opinion that the final outcome of such claims, if any, will not have a material adverse effect on the Town's financial statements.

Note 9 - Risk Management

CIRSA has entered into various excess insurance contracts to limit large losses and minimize exposure on large risks. Excess of loss contracts in effect during 2008 limit CIRSA’s per occurrence exposure to $1,000,000 for property coverage, $1,000,000 for excess property coverage and provide coverage to specified upper limits. The excess of loss contract for workers’ compensation coverage limits CIRSA’s per occurrence exposure to $500,000 for 2009 and provides coverage in statutory limits for the State of Colorado. The Town’s 2018 contributions were $257,923 and $181,918 and share of equity at December 31, 2018, amounted to approximately $232,237 and $465,479 for the property and casualty pool and the workers’ compensation pool, respectively.

Note 10 - Taxes, Spending, and Debt Limitations

In November 1992, Colorado voters passed an amendment (the “Amendment” or “TABOR”) to the State Constitution (Article X, Section 20) which limits the revenue raising and spending abilities of state and local governments. The limits on property taxes, revenue, and “fiscal year spending” include allowable annual increases tied to inflation and local growth in construction valuation. Fiscal year spending, as defined by the Amendment, excludes spending from certain revenue and financing sources such as federal funds, gifts, property sales, fund transfers, damage awards, and fund reserve (balances). The Amendment requires voter approval for any increase in mill levy or tax rates, new taxes, or creation of multi-year debt. Revenue earned in excess of the “spending limit” must be refunded or approved to be retained by the Town under specified voting requirements by the entire electorate.

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Note 10 - Taxes, Spending, and Debt Limitations (Continued) The Amendment also requires local governments to establish emergency reserves to be used for declared emergencies only. Emergencies, as defined by the amendment, exclude economic conditions, revenue shortfalls, or salary or fringe benefit increase. These reserves are required to be 3% or more of fiscal year spending (excluding bonded debt service). The Town has restricted $1,257,149 for this purpose. On April 6, 2004, the voting citizens of the Town of Windsor authorized the Town “to retain and expend all revenues generated in 2003 and each year thereafter for the purposes of police protection; parks and recreation capital projects and maintenance thereof; construction, reconstruction and maintenance of streets; capital equipment purchases; capital improvements; and debt service payments, notwithstanding any restriction on fiscal year spending, including, without limitation, the restrictions of Article X, Section 20, of the Colorado Constitution, or other laws of the State of Colorado.” This effectively removed all revenue and spending limits imposed by TABOR. The Town believes it is in compliance with the provisions of TABOR. However, TABOR is complex and subject to interpretation. Many of its provisions will require Judicial interpretation.

Note 11 - Commitments The Town has contractual commitments and estimated costs to complete construction projects in progress totaling approximately $2.4 million for various projects, including improvements to I-25, the North sewer Interceptor and a joint pool repair with Windsor High School.

Note 12 – Incentive Agreements

In December 2016, The Town and DDA entered into an economic incentive agreement with a limited liability company in Windsor. The DDA committed to contributing approximately $2.3 million for the purchase of façade easements and public capital improvements for the project undertaken by the limited liability company. In addition, the Town has agreed to biannually reimburse the limited liability company 50 percent of the project sales tax increment revenues collected by the Town until the tax incentive reimbursement amount is paid in full. The remaining 50 percent of the project sales tax increment revenues will be retained by the Town. Beginning in 2018, the DDA will submit payments to the limited liability company annually the project property tax increment revenues received by the Town on behalf of the DDA. In addition, the Town agreed to waive the payment of the construction use tax, impact fees, plant investment fees, building fees, electrical fees, plan review fees, administrative fees, initial raw water dedications and storm water drainage fees which would normally be collected by the Town as part of the building permit process. This agreement was amended in June 2018; under the revised agreement, payments will begin in 2019. In September 2018, The Town donated 100 acres of land to the Colorado National Sports Park (“CNSP”) an LLC for the purpose of building a sports park to benefit the Town. Along with this donation the Town has agreed to pay a maintenance fee of $24,000 annually starting January of 2020. Starting in 2020 CNSP will assume full responsibility for all maintenance and operation of the sports complex including Insurance, utilities, irrigation, maintenance and security. The value of the donation of land is estimated to be $3,500,000.

In addition, the Town has entered into thirteen additional economic development incentives in an effort to attract and retain high quality development, to provide employment opportunities, and community service delivery. During the year ended December 31, 2018, the Town either waived fees or paid approximately $379,000 under these agreements.

Note 13 - Subsequent Events

Management of the Town has evaluated subsequent events through June 10, 2019, the date that the financial statements were available to be issued. No additional transactions or events that would require adjustment to, or disclosure in the financial statements were identified.

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REQUIRED SUPPLEMENTARY INFORMATION GENERAL FUND BUDGETARY COMPARISON SCHEDULE

COMMUNITY RECREATION CENTER EXPANSION FUND BUDGETARY COMPARISON

SCHEDULE SCHEDULE OF THE TOWN’S PROPORTIONATE SHARE OF NET PENSION

LIABILITY/(ASSET) SCHEDULE OF THE TOWN’S CONTRIBUTIONS

These financial statements present budget and actual comparisons for the Town’s General Fund and Community Recreation Center Expansion Fund. In addition, it presents schedules for the Town’s proporionate share of the net

pension liability/(asset) and Town contributions for the Town’s defined benefit pension plan.

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GENERAL FUND BUDGETARY COMPARISON SCHEDULE For the Year Ended December 31, 2018

See accompanying independent auditor’s report. 54

Variance withFinal Budget

Actual PositiveOriginal Final Amounts (Negative)

RevenuesTaxes 12,786,096$ 12,786,096$ 14,190,781$ 1,404,685$ Licenses and permits 390,909 390,909 1,133,960 743,051 Intergovernmental 1,263,978 1,263,978 1,570,203 306,225 Grants and contributions - - 15,059 15,059 Charges for services 1,251,666 1,251,666 1,345,721 94,055 Fines and forfeitures 162,064 162,064 223,573 61,509 Earnings on investments 70,000 70,000 70,995 995 Miscellaneous 309,643 309,643 145,068 (164,575)

Total revenues 16,234,356 16,234,356 18,695,360 2,461,004

ExpendituresGeneral government

Legislative 653,131 653,131 461,445 191,686 Judicial 20,848 20,848 20,276 572 Administrative and finance 3,276,847 3,276,847 3,267,732 9,115 Town clerk 734,755 734,755 672,050 62,705

Public safety 4,510,605 4,510,605 4,527,808 (17,203) Public works

Streets and alleys 1,596,592 1,596,592 2,002,250 (405,658) Administration 1,313,659 1,313,659 1,044,163 269,496 Cemetery 147,990 147,990 133,992 13,998 Engineering 909,223 909,223 920,670 (11,447)

Parks, recreation and culture 4,352,342 4,352,342 3,934,808 417,534 Community development 351,593 351,593 314,319 37,274 Safety and loss control 8,950 8,950 7,725 1,225

Total expenditures 17,876,535 17,876,535 17,307,238 569,297

Revenues over expenditures (1,642,179) (1,642,179) 1,388,122 3,030,301

Other financing uses

Transfers in 918,044 918,044 918,043 (1) Transfers out - - (145,080) (145,080)

Total other financing uses 918,044 918,044 772,963 (145,081)

Net change in fund balances (724,135)$ (724,135)$ 2,161,085 2,885,220$

Fund balance at beginning of year 11,021,717

Fund balance at end of year 13,182,802$

Budgeted Amounts

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COMMUNITY RECREATION CENTER EXPANSION FUND BUDGETARY COMPARISON SCHEDULE For the Year Ended December 31, 2018




RevenuesTaxes and assessments 2,758,031$ 2,758,031$ 3,491,211$ 733,180$ Charges for services 1,302,219 1,302,219 1,364,008 61,789 Earnings on investments 35,376 35,376 6,802 (28,574) Miscellaneous - - 54,728 54,728

Total revenues 4,095,626 4,095,626 4,916,749 821,123

ExpendituresPersonal services 895,148 895,148 916,404 (21,256) Operating and maintenance 486,583 486,583 612,346 (125,763) Capital outlay - - - - Debt service

Principal 948,000 948,000 948,000 - Interest 538,512 538,512 388,316 150,196 Debt Issuance Costs - - 3,070 (3,070)

Total expenditures 2,868,243 2,868,243 2,868,136 107

Excess of revenue over expenditures 1,227,383 1,227,383 2,048,613 821,230

Net change in fund balance 1,227,383$ 1,227,383$ 2,048,613 821,230$



Budgeted Amounts

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GENERAL FUND AND COMMUNITY RECREATION CENTER EXPANSION FUND NOTE TO BUDGETARY COMPARISON SCHEDULE



Note 1 – Budgetary Information

Colorado law requires that all funds have legally adopted budgets and total expenditures for each fund cannot exceed the amount appropriated. The fund level of classification is the level of classification at which expenditures may not legally exceed appropriations. Note 1 to the financial statements describes the budget process.

An annual budget and appropriation ordinance is adopted by the Town Board in accordance with Colorado state statutes. Budgets are adopted on a basis consistent with GAAP, except for the following: proceeds from long-term debt are budgeted as revenue in the proprietary funds; note, lease and bond principal payments are budgeted as expenses in the proprietary funds; and purchases of capital assets are budgeted as capital outlay expenses in the proprietary funds. Draft

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SCHEDULE OF THE TOWN’S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY/(ASSET) Last Ten Years


2018 2017 2016 2015 2014

FPPA - Defined Benefit Plan

Town's proportion of the net pension liability/(asset) (220,987)$ 55,159$ (2,830)$ (174,070)$ (190,834)$

Town's proportionate share of the net pension liability/(asset) 0.1536% 0.1527% 0.1605% 0.1542% 0.1514%

Town's covered payroll 1,796,963$ 1,624,716$ 1,563,810$ 1,392,646$ 1,313,192$

12.30% 3.39% 0.18% 12.50% 14.53%

Plan fiduciary net position as a percentage of the total pension 106.30% 98.21% 100.10% 106.80% 105.80%

* The amounts presented for each fiscal year were determined as of December 31 of the prior year.

Town's proportionate share of the net pension liability/(asset) as apercentage of its covered payroll

Pension schedules are intended to show information for ten years, additional years' information will be displayed as it becomes available.Draft

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SCHEDULE OF THE TOWN’S CONTRIBUTIONS Last Ten Years


2018 2017 2016 2015 2014 2013

FPPA - Defined Benefit Plan

Statutorily Required Contribution 87,984$ 71,879$ 64,988$ 62,552$ 55,706$ 52,528$

87,984 71,879 64,988 62,552 55,706 52,528

Contribution Deficiency (Excess) -$ -$ -$ -$ -$ -$

Covered Payroll 2,199,592$ 1,796,963$ 1,624,716$ 1,563,810$ 1,392,646$ 1,313,192$

Contributions as a Percentage of Covered Payroll 4.00% 4.00% 4.00% 4.00% 4.00% 4.00%

Contributions in Relation to the Statutorily Required Contribution

Pension schedules are intended to show information for ten years, additional years' information will be displayed as it becomes available.Draft

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OTHER SUPPLEMENTARY INFORMATION COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES

These financial statements present more detailed information, such as combining statements for the nonmajor governmental funds. budget and actual comparisons for remaining funds, and individual nonmajor funds in a format that segregates information by fund type.

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COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS

December 31, 2018


Park Improvement

Fund

Community Recreation

Center FundConservation Trust Fund Total

ASSETS

Cash and cash equivalents 461,141$ 536,538$ 890,083$ 1,887,762$ Investments 50,173 4,724 86,088 140,985 Receivables 0 97,005 33,434 130,439 Interfund receivable 9,893,197 - - 9,893,197

Total assets 10,404,511$ 638,267$ 1,009,605$ 12,052,383$

LIABILITIES

Accounts payable -$ 739$ -$ 739$ Accrued payroll - 5,970 - 5,970

Total liabilities - 6,709 - 6,709

Fund balancesRestricted for emergencies 121,900 - - 121,900 Restricted for parks and recreation - - 1,009,605 1,009,605 Assigned for parks and recreation 10,282,611 631,558 - 10,914,169

Total fund balances 10,404,511 631,558 1,009,605 12,045,674

Total liabilities and fund balances 10,404,511$ 638,267$ 1,009,605$ 12,052,383$

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COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL FUNDS



Park

Improvement Fund

Community Recreation

Center FundConservation Trust Fund Total

RevenuesTaxes -$ 930,453$ -$ 930,453$ Intergovernmental 175,714 - 248,831 424,545 Grants and contributions - - 73,234 73,234 Charges for services 4,061,603 274,962 - 4,336,565 Earnings on investments 1,726 187 1,684 3,597

Total revenues 4,239,043 1,205,602 323,749 5,768,394

ExpendituresCurrent:

Parks, recreation and culture - 899,796 183,854 1,083,650 Debt service

Principal - 325,000 - 325,000 Interest - 58,550 - 58,550

Capital outlay 1,857,068 - 52,153 1,909,221

Total expenditures 1,857,068 1,283,346 236,007 3,376,421

Revenues over (under) expenditures 2,381,975 (77,744) 87,742 2,391,973

Other financing sources (uses) Transfers out (29,069) - - (29,069)

Total other financing sources (uses) (29,069) - - (29,069)

Net changes in fund balances 2,352,906 (77,744) 87,742 2,362,904

Fund balance at beginning of year 8,051,605 709,302 921,863 9,682,770

Fund balance at end of year 10,404,511$ 631,558$ 1,009,605$ 12,045,674$

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CAPITAL IMPROVEMENT FUND BUDGETARY COMPARISON SCHEDULE For the Year Ended December 31, 2018

See accompanying independent auditor’s report.

62



RevenuesTaxes 6,460,587$ 6,460,587$ 7,542,093$ 1,081,506$ Charges for Services 2,500,626 2,500,626 3,851,266 1,350,640 Intergovernmental 333,000 333,000 333,623 623 Grants and contributions 358,600 11,504,061 11,245,450 (258,611) Earnings on investments 178,741 178,741 421,453 242,712 Miscellaneous 616,500 616,500 2,096,181 1,479,681

Total revenues 10,448,054 21,593,515 25,490,066 3,896,551

ExpendituresSmall equipment and maintenance 6,867,115 6,867,115 4,511,422 2,355,693 Capital outlay 4,513,087 15,658,548 12,683,418 2,975,130

Total expenditures 11,380,202 22,525,663 17,194,840 5,330,823

Revenues under expenditures (932,148) (932,148) 8,295,226 9,227,374

Other financing sources (uses)Transfers in 102,382 102,382 102,382 - Transfers out (480,413) (480,413) (210,913) 269,500

Total other financing sources (uses) (378,031) (378,031) (108,531) 269,500

Net change in fund balance (1,310,179)$ (1,310,179)$ 8,186,695 9,496,874$



Budgeted Amounts

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PARK IMPROVEMENT FUND BUDGETARY COMPARISON SCHEDULE For the Year Ended December 31, 2018


63



RevenuesCharges for services 2,108,834$ 2,108,834$ 4,061,603$ 1,952,769$ Intergovernmental 170,599 170,599 175,714 5,115 Earnings on investments 894 894 1,726 832

Total revenues 2,280,327 2,280,327 4,239,043 1,958,716

ExpendituresCapital outlay 4,866,000 4,866,000 1,857,068 3,008,932

Total expenditures 4,866,000 4,866,000 1,857,068 3,008,932

Revenues over expenditures (2,585,673) (2,585,673) 2,381,975 4,967,648

Transfers out (29,069) (948,893) (29,069) 919,824

Net change in fund balance (2,614,742)$ (3,534,566)$ 2,352,906 5,887,472$



Budgeted Amounts

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COMMUNITY RECREATION CENTER FUND BUDGETARY COMPARISON SCHEDULE For the Year Ended December 31, 2018


64



RevenuesTaxes 739,204$ 739,204$ 930,453$ 191,249$ Charges for services 285,992 285,992 274,962 (11,030) Earnings on investments 105 105 187 82

Total revenues 1,025,301 1,025,301 1,205,602 180,301

ExpendituresPersonal services 367,581 367,581 335,528 32,053 Operating and maintenance 297,550 297,550 564,268 (266,718) Debt service 707,857 707,857 383,550 324,307

Total expenditures 1,372,988 1,372,988 1,283,346 89,642

Net change in fund balance (347,687)$ (347,687)$ (77,744) 269,943$

Fund balance at beginning of year 709,302

Fund balance at end of year 631,558$

Budgeted Amounts

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CONSERVATION TRUST FUND BUDGETARY COMPARISON SCHEDULE For the Year Ended December 31, 2018




RevenuesIntergovernmental 223,069$ 223,069$ 248,831$ 25,762$ Grants and contributions 250,000 250,000 73,234 (176,766) Earnings on investments 468 468 1,684 1,216

Total revenues 473,537 473,537 323,749 (149,788)

ExpendituresParks, recreation and culture 368,000 368,000 183,854 184,146 Capital outlay 255,000 255,000 52,153 202,847

Total expenditures 623,000 623,000 236,007 386,993

Net change in fund balance (149,463)$ (149,463)$ 87,742 237,205$

Fund balance at beginning of year 921,863


Budgeted Amounts

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WATER FUND BUDGETARY COMPARISON SCHEDULE For the Year Ended December 31, 2018


66



RevenuesCharges for services 5,242,322$ 5,242,322$ 4,259,743$ (982,579)$ Miscellaneous 575,606 575,606 845,588 269,982

Total operating revenues 5,817,928 5,817,928 5,105,331 (712,597)

Budgetary expendituresWages and benefits 371,127 371,127 185,247 185,880 Operating and maintenance costs 3,038,160 3,038,160 3,486,076 (447,916) Interest 650,428 650,428 230,021 420,407 Principal paid 87,789 87,789 468,196 (380,407) Capital outlay 8,538,262 14,066,162 10,034,689 4,031,473

Total budgetary expenditures 12,685,766 18,213,666 14,404,229 3,809,437

Operating revenues under budgetary expenditures (6,867,838) (12,395,738) (9,298,898) 3,096,840

Nonoperating revenueEarnings on investments 342,141 342,141 633,505 291,364

Total nonoperating revenue 342,141 342,141 633,505 291,364

Loss before contributions and transfers (6,525,697) (12,053,597) (8,665,393) 3,388,204

Transfers in 399,738 399,738 465,571 65,833 Transfers out (815,434) (815,434) (794,710) 20,724 Contributed capital 2,584,164 8,112,064 9,391,356 1,279,292

Income budgetary basis (4,357,229)$ (4,357,229)$ 396,824 4,754,053$

Reconciliation to GAAP basis Depreciation (802,543) Principal paid 468,196 Capital outlay 10,034,689

Change in net position - GAAP basis 10,097,166

Net position at beginning of year 85,195,252

Net position at end of year 95,292,418$

Budgeted Amounts

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SEWER FUND BUDGETARY COMPARISON SCHEDULE For the Year Ended December 31, 2018


67



Operating revenuesCharges for services 2,058,222$ 2,058,222$ 2,209,330$ 151,108$ Miscellaneous 500 500 130,150 129,650

Total operating revenues 2,058,722 2,058,722 2,339,480 280,758

Budgetary expendituresWages and benefits 449,059 449,059 356,758 92,301 Operating and maintenance costs 983,772 983,772 1,157,659 (173,887) Interest 270,784 270,784 37,914 232,870 Principal paid 190,320 190,320 190,320 - Capital outlay 3,827,625 7,967,537 5,289,417 2,678,120

Total budgetary expenditures 5,721,560 9,861,472 7,032,068 2,829,404

Operating revenues under budgetary expenditures (3,662,838) (7,802,750) (4,692,588) 3,110,162

Nonoperating revenuesEarnings on investments 8,067 8,067 26,914 18,847 Grants 2,111,000 2,111,000 500,000 (1,611,000)

Total nonoperating revenues 2,119,067 2,119,067 526,914 (1,592,153)

Loss before contributions and transfers (1,543,771) (5,683,683) (4,165,674) 1,518,009

Transfers out (386,547) (386,547) (294,133) 92,414 Contributed capital 1,925,987 6,065,899 5,812,286 (253,613)

Income budgetary basis (4,331)$ (4,331)$ 1,352,479 1,356,810$

Reconciliation to GAAP basis Depreciation (940,971) Principal paid 190,320Capital outlay 5,289,417




Budgeted Amounts

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STORM DRAINAGE FUND BUDGETARY COMPARISON SCHEDULE For the Year Ended December 31, 2018


68



Operating revenuesCharges for services 754,199$ 754,199$ 382,800$ (371,399)$

Total operating revenues 754,199 754,199 382,800 (371,399)

Budgetary expenditures Wages and benefits 22,971 22,971 40,976 (18,005) Operating and maintenance costs 236,871 236,871 258,392 (21,521) Capital outlay 393,500 1,576,564 1,366,685 209,879

Total budgetary expenditures 653,342 1,836,406 1,666,053 170,353

Operating revenues under budgetary expenditures 100,857 (1,082,207) (1,283,253) (201,046)

Nonoperating revenueEarnings on investments 2,574 2,574 8,845 6,271 Grant revenue - - 4,000 4,000

Total nonoperating revenue 2,574 2,574 12,845 10,271

Loss before transfers and contributions 103,431 (1,079,633) (1,270,408) (190,775)

Transfers out (342,102) (342,102) (302,251) 39,851 Contributed capital 1,932,429 3,115,493 2,827,740 (287,753)

Loss budgetary basis 1,693,758$ 1,693,758$ 1,255,081 (438,677)$

Reconciliation to GAAP basis Depreciation (482,812) Capital outlay 1,366,685




Budgeted Amounts

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COMBINING STATEMENT OF NET POSITION INTERNAL SERVICE FUNDS

December 31, 2018


69

Information Technology

Fund

Fleet Management

Fund

Windsor Building

AuthorityFacility

Services Fund TotalASSETS

Current assetsCash and cash equivalents -$ 434,170$ -$ 75,946$ 510,116$ Accounts receivable 3,161 2,629 - 4,677 10,467 Prepaid items 7,101 - - - 7,101

Total current assets 10,262 436,799 - 80,623 527,684

Noncurrent assetsRestricted investments - - 145,622 - 145,622 Capital assets:

Land - - 157,853 - 157,853 Buildings and improvements 6,924 - 4,987,609 - 4,994,533 Machinery and equipment 1,851,714 6,306,588 - - 8,158,302

Less accumulated depreciation (1,294,488) (4,103,491) (1,995,752) - (7,393,731)

Total capital assets, net 564,150 2,203,097 3,149,710 - 5,916,957

Total noncurrent assets 564,150 2,203,097 3,295,332 - 6,062,579

Total assets 574,412 2,639,896 3,295,332 80,623 6,590,263

LIABILITIES

Current liabilitiesInterfund payable 19,173 - 2,378,705 - 2,397,878 Accounts payable 5,313 1,693 - 6,225 13,231 Accrued liabilities 10,949 5,039 - 11,862 27,850 Loan payable - current - - 44,721 - 44,721

Total current liabilities 35,435 6,732 2,423,426 18,087 2,483,680

Noncurrent liabilitiesAccrued compensated absences 16,372 7,189 - 16,653 40,214 Loan payable - - 2,506,791 - 2,506,791

Total noncurrent liabilities 16,372 7,189 2,506,791 16,653 2,547,005

Total liabilities 51,807 13,921 4,930,217 34,740 5,030,685

NET POSITION

Net investment in capital assets 564,150 2,203,097 598,198 - 3,365,445 Unrestricted (41,545) 422,878 (2,233,083) 45,883 (1,805,867)

Total net position 522,605$ 2,625,975$ (1,634,885)$ 45,883$ 1,559,578$

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COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION INTERNAL SERVICE FUNDS



70

Information Technology

Fund

Fleet Management

FundWindsor Building

AuthorityFacility Services

Fund TotalOperating revenues

Charges for services 1,255,496$ 942,873$ -$ 919,231$ 3,117,600$ Insurance recoveries - 128,200 - - 128,200 Miscellaneous 4,304 223,438 - - 227,742

Total operating revenues 1,259,800 1,294,511 - 919,231 3,473,542

Operating expensesWages and benefits 487,934 277,665 - 573,166 1,338,765 Operating costs 788,565 309,241 6 288,601 1,386,413 Depreciation 196,816 751,347 249,388 - 1,197,551

Total operating expenses 1,473,315 1,338,253 249,394 861,767 3,922,729

Operating loss (213,515) (43,742) (249,394) 57,464 (449,187)

Nonoperating revenue (expense)Gain on sale of capital assets - - - - - Interest Expense - - (102,002) - (102,002) Earnings on investments - - 65 - 65

Total nonoperating revenue (expense) - - (101,937) - (101,937)

Income (loss) before transfers and contributions (213,515) (43,742) (351,331) 57,464 (551,124)

Transfers in - - 290,160 - 290,160 Contributed capital - 269,500 - - 269,500

Change in net position (213,515) 225,758 (61,171) 57,464 8,536

Net position at beginning of year 736,120 2,400,217 (1,573,714) (11,581) 1,551,042

Net position at end of year 522,605$ 2,625,975$ (1,634,885)$ 45,883$ 1,559,578$

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COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS



71

Information Technology Fund

Fleet Management

FundWindsor Building

AuthorityFacility Services

Fund TotalCash flows from operating activities

Cash received from customers 1,252,336$ 940,244$ -$ 914,554$ 3,107,134$ Other receipts 4,304 128,200 - - 132,504 Cash payments to suppliers (839,734) (309,664) (6) (272,490) (1,421,894) Cash payments to employees (486,178) (277,104) - (576,159) (1,339,441)

Net cash flows from operating activities (69,272) 481,676 (6) 65,905 478,303

Cash flows from non-capital financing activitiesChange in interfund payable 122,553 - (145,095) - (22,542) Change in interfund receivable - 276,042 - 10,041 286,083 T ransfers from other funds - - 290,160 - 290,160

Net cash flows from non-capital activities 122,553 276,042 145,065 10,041 553,701

Cash flows from capital and related financing activitiesPrincipal paid on debt - - (188,158) - (188,158) Interest paid on debt - - (102,002) - (102,002)

Capital contributions - 269,500 - - 269,500 Acquisit ion of capital assets (53,281) (593,048) - - (646,329)

Net cash flows from capital and related financing activities (53,281) (323,548) (290,160) - (666,989)

Cash flows from investing activitiesNet change in restricted cash - - 145,031 - 145,031 Earnings on investments - - 65 - 65

Net cash flows from investing activities - - 145,096 - 145,096

Net change in cash and cash equivalents - 434,170 (5) 75,946 510,111

Cash and cash equivalents at beginning of year - - 5 - 5

Cash and cash equivalents at end of year -$ 434,170$ -$ 75,946$ 510,116$ "

Reconciliation of operating loss to net cash flows from operating activities

Operating loss (213,515)$ (43,742)$ (249,394)$ 57,464$ (449,187)$

Adjustments to reconcile operating loss to netcash flows from operating activities:

Depreciation expense 196,816 751,347 249,388 - 1,197,551 Changes in operating assets and liabilit ies:

Accounts receivable (3,160) (2,629) - (4,677) (10,466) Accounts payable and accrued expenses (49,413) 138 - 13,118 (36,157)

Net cash flows from operating activities (69,272)$ 705,114$ (6)$ 65,905$ 701,741$ 223,438 223,438

Non-cash investing, capital and financing activitiesTrade-in value of capital assets -$ 223,438$ -$ -$ 223,438$

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INFORMATION TECHNOLOGY FUND BUDGETARY COMPARISON SCHEDULE For the Year Ended December 31, 2018


72



Operating revenuesCharges for services 1,245,996$ 1,245,996$ 1,255,496$ 9,500$ Miscellaneous 150,000 150,000 4,304 (145,696)

Total operating revenues 1,395,996 1,395,996 1,259,800 (136,196)

Budgetary expendituresWages and benefits 498,814 498,814 487,934 10,880 Operating costs 869,120 890,173 788,565 101,608 Capital outlay 71,500 71,500 53,281 18,219

Total budgetary expenditures 1,439,434 1,460,487 1,329,780 130,707

Loss before transfers and contributions of capital (43,438) (64,491) (69,980) (5,489)

Transfers in 16,478 16,478 - (16,478)

Loss budgetary basis (26,960)$ (48,013)$ (69,980) (21,967)$

Reconciliation to GAAP basisDepreciation expense (196,816) Capital outlay 53,281

Change in net position - GAAP basis (213,515)

Net position at beginning of year 736,120

Net position at end of year 522,605$

Budgeted Amounts

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FLEET MANAGEMENT FUND BUDGETARY COMPARISON SCHEDULE For the Year Ended December 31, 2018


73



RevenuesCharges for services 1,212,373$ 1,212,373$ 942,873$ (269,500)$ Proceeds from the sale of capital assets 10,000 10,000 - (10,000) Insurance recoveries - - 128,200 128,200 Miscellaneous - - 223,438 223,438

Total revenues 1,222,373 1,222,373 1,294,511 72,138

Budgetary expendituresWages and benefits 264,518 264,518 277,665 (13,147) Operating costs 235,220 235,220 309,241 (74,021) Capital outlay 637,500 1,085,590 593,048 492,542

Total budgetary expenditures 1,137,238 1,585,328 1,179,954 405,374

Loss before transfers and contributions of capital 85,135 (362,955) 114,557 477,512

Contributed capital - - 269,500 269,500

Loss budgetary basis 85,135$ (362,955)$ 384,057 747,012$

Reconciliation to GAAP basisDepreciation expense (751,347) Capital outlay 593,048

Change in net position - GAAP basis 225,758



Budgeted Amounts

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WINDSOR BUILDING AUTHORITY FUND BUDGETARY COMPARISON SCHEDULE For the Year Ended December 31, 2018


74



Operating revenuesEarnings on investments -$ -$ 65$ 65$

Total operating revenues - - 65 65

Budgetary expendituresOperating costs 5 5 6 (1) Interest expense 102,002 102,002 102,002 - Principal paid 188,158 188,158 188,158 -

Total budgetary expenditures 290,165 290,165 290,166 (1)

Loss before contributions and transfers (290,165) (290,165) (290,101) 64

Transfers in 290,160 290,160 290,160 -

Income budgetary basis (5)$ (5)$ 59 64$

Reconciliation to GAAP basisDepreciation expense (249,388) Principal paid 188,158

Change in net position - GAAP basis (61,171)

Net position at beginning of year (1,573,714)

Net position at end of year (1,634,885)$

Budgeted Amounts

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FACILITY SERVICES FUND BUDGETARY COMPARISON SCHEDULE For the Year Ended December 31, 2018


75



Operating revenuesCharges for services 919,230$ 919,230$ 919,231$ 1$

Total operating revenues 919,230 919,230 919,231 1

Budgetary expendituresWages and benefits 590,701 590,701 573,166 17,535 Operating costs 250,101 271,154 288,601 (17,447)

Total budgetary expenditures 840,802 861,855 861,767 88

Loss budgetary and GAAP basis 78,428$ 57,375$ 57,464 89$

Net position at beginning of year (11,581)

Net position at end of year 45,883$

Budgeted Amounts

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See accompanying independent auditor’s report 77

OTHER FINANCIAL INFORMATION

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DEBT SERVICE REQUIREMENTS December 31, 2017

GOVERNMENTAL ACTIVITIES

PAYMENT PRINCIPAL INTEREST TOTAL PRINCIPALDATE EXPENSE EXPENSE PAYMENT BALANCE

3,705,000$ 2012 290,000$ 83,636$ 373,636$ 3,415,000 2013 280,000 92,275 372,275 3,135,000 2014 280,000 86,675 366,675 2,855,000 2015 300,000 81,075 381,075 2,555,000 2016 300,000 72,075 372,075 2,255,000 2017 310,000 65,325 375,325 1,945,000 2018 325,000 58,350 383,350 1,620,000 2019 340,000 48,600 388,600 1,280,000 2020 350,000 38,400 388,400 930,000 2021 360,000 27,900 387,900 570,000 2022 370,000 17,100 387,100 200,000 2023 200,000 6,000 206,000 -

3,705,000$ 677,411$ 4,382,411$ Refinanced Jan/2012

SALES AND USE TAX REVENUE REFUNDING BONDSCOMMUNITY / RECREATION CENTER

TOWN OF WINDSOR SERIES 2012 12-Year repayment at 2% - 3% Interest

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The Sales & Use Tax Revenue Bonds, Series 2015 were refinanced in December 2017. The following is the schedule for the loan with JP Morgan Chase Bank, N.A.


15,480,000$ 06/01/2018 186,301.80$ 186,301.80$ 15,480,000 12/01/2018 948,000$ 202,014.00 1,150,014.00 14,532,000 06/01/2019 189,642.60 189,642.60 14,532,000 12/01/2019 953,000 189,642.60 1,142,642.60 13,579,000 06/01/2020 177,205.95 177,205.95 13,579,000 12/01/2020 978,000 177,205.95 1,155,205.95 12,601,000 06/01/2021 164,443.05 164,443.05 12,601,000 12/01/2021 1,002,000 164,443.05 1,166,443.05 11,599,000 06/01/2022 151,366.95 151,366.95 11,599,000 12/01/2022 1,030,000 151,366.95 1,181,366.95 10,569,000 06/01/2023 137,925.45 137,925.45 10,569,000 12/01/2023 1,057,000 137,925.45 1,194,925.45 9,512,000 06/01/2024 124,131.60 124,131.60 9,512,000 12/01/2024 1,086,000 124,131.60 1,210,131.60 8,426,000 06/01/2025 109,959.30 109,959.30 8,426,000 12/01/2025 1,111,000 109,959.30 1,220,959.30 7,315,000 06/01/2026 95,460.75 95,460.75 7,315,000 12/01/2026 1,142,000 95,460.75 1,237,460.75 6,173,000 06/01/2027 80,557.65 80,557.65 6,173,000 12/01/2027 1,171,000 80,557.65 1,251,557.65 5,002,000 06/01/2028 65,276.10 65,276.10 5,002,000 12/01/2028 1,202,000 65,276.10 1,267,276.10 3,800,000 06/01/2029 49,590.00 49,590.00 3,800,000 12/01/2029 1,235,000 49,590.00 1,284,590.00 2,565,000 06/01/2030 33,473.25 33,473.25 2,565,000 12/01/2030 1,267,000 33,473.25 1,300,473.25 1,298,000 06/01/2031 16,938.90 16,938.90 1,298,000 12/01/2031 1,298,000 16,938.90 1,314,938.90 -

15,480,000$ 3,180,258.90$ 18,660,258.90$

SERIES 2017 14-Year repayment at 2.610% Interest

COMMUNITY / RECREATION CENTER EXPANSION FUND

TOWN OF WINDSORSALES AND USE TAX REVENUE REFUNDING NOTE

Loan is with JPMorgan Chase Bank, N.A.

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3,000,000.00$ 2011 (12 monthly payments) 33,145.85$ 111,934.15$ 145,080.00$ 2,966,854.15 2012 (12 monthly payments) 34,410.40 110,669.60 145,080.00 2,932,443.75 2013 (12 monthly payments) 35,723.20 109,356.80 145,080.00 2,896,720.55 2014 (12 monthly payments) 37,086.09 107,993.91 145,080.00 2,859,634.46 2015 (12 monthly payments) 38,500.98 106,579.02 145,080.00 2,821,133.48 2016 (12 monthly payments) 39,969.84 105,110.16 145,080.00 2,781,163.64 2017 (12 monthly payments) 41,494.72 103,585.28 145,080.00 2,739,668.92 2018 (12 monthly payments) 43,077.79 102,002.21 145,080.00 2,696,591.13 2019 (12 monthly payments) 44,721.29 100,358.71 145,080.00 2,651,869.84 2020 (12 monthly payments) 46,427.46 98,652.54 145,080.00 2,605,442.38 2021 (12 monthly payments) 48,198.74 96,881.26 145,080.00 2,557,243.64 2022 (12 monthly payments) 50,037.59 95,042.41 145,080.00 2,507,206.05 2023 (12 monthly payments) 51,946.58 93,133.42 145,080.00 2,455,259.47 2024 (12 monthly payments) 53,928.40 91,151.60 145,080.00 2,401,331.07 2025 (12 monthly payments) 55,985.83 89,094.17 145,080.00 2,345,345.24 2026 (12 monthly payments) 58,121.78 86,958.22 145,080.00 2,287,223.46 2027 (12 monthly payments) 60,339.20 84,740.80 145,080.00 2,226,884.26 2028 (12 monthly payments) 62,641.21 82,438.79 145,080.00 2,164,243.05 2029 (12 monthly payments) 65,031.04 80,048.96 145,080.00 2,099,212.01 2030 (12 monthly payments) 67,512.05 77,567.95 145,080.00 2,031,699.96 2031 (12 monthly payments) 70,087.73 74,992.27 145,080.00 1,961,612.23 2032 (12 monthly payments) 72,761.68 72,318.32 145,080.00 1,888,850.55 2033 (12 monthly payments) 75,537.64 69,542.36 145,080.00 1,813,312.91 2034 (12 monthly payments) 78,419.48 66,660.52 145,080.00 1,734,893.43 2035 (12 monthly payments) 81,411.30 63,668.70 145,080.00 1,653,482.13 2036 (12 monthly payments) 84,517.24 60,562.76 145,080.00 1,568,964.89 2037 (12 monthly payments) 87,741.66 57,338.34 145,080.00 1,481,223.23 2038 (12 monthly payments) 91,089.14 53,990.86 145,080.00 1,390,134.09 2039 (12 monthly payments) 94,564.32 50,515.68 145,080.00 1,295,569.77 2040 (12 monthly payments) 98,172.05 46,907.95 145,080.00 1,197,397.72 2041 (12 monthly payments) 101,917.45 43,162.55 145,080.00 1,095,480.27 2042 (12 monthly payments) 105,805.74 39,274.26 145,080.00 989,674.53 2043 (12 monthly payments) 109,842.36 35,237.64 145,080.00 879,832.17 2044 (12 monthly payments) 114,032.97 31,047.03 145,080.00 765,799.20 2045 (12 monthly payments) 118,383.51 26,696.49 145,080.00 647,415.69 2046 (12 monthly payments) 122,899.98 22,180.02 145,080.00 524,515.71 2047 (12 monthly payments) 127,588.78 17,491.22 145,080.00 396,926.93 2048 (12 monthly payments) 132,456.45 12,623.55 145,080.00 264,470.48 2049 (12 monthly payments) 137,509.86 7,570.14 145,080.00 126,960.62 2050 (12 monthly payments) 126,960.62 2,335.52 129,296.14 -$

3,000,000.00$ 2,787,416.14$ 5,787,416.14$

USDA COMMUNITY FACILITIES LOANfor the TOWN OF WINDSOR POLICE FACILITY

WINDSOR BUILDING AUTHORITY

40-Year repayment at 3.750% Interest

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BUSINESS-TYPE ACTIVITIES

The Kern loan was refinanced July 31, 2017. Above is the new payment Schedule.


$3,401,550.002017 TOTALS $ 96,484.80 $ 36,761.36 $ 133,246.16 3,305,065.20 2018 TOTALS 295,272.54 104,465.94 399,738.48 3,009,792.66 2019 TOTALS 305,150.46 94,588.02 399,738.48 2,704,642.20 2020 TOTALS 315,113.30 84,625.18 399,738.48 2,389,528.90 2021 TOTALS 325,900.53 73,837.95 399,738.48 2,063,628.37 2022 TOTALS 336,803.06 62,935.42 399,738.48 1,726,825.31 2023 TOTALS 348,070.33 51,668.15 399,738.48 1,378,754.98 2024 TOTALS 359,592.39 40,146.09 399,738.48 1,019,162.59 2025 TOTALS 371,744.18 27,994.30 399,738.48 647,418.41 2026 TOTALS 384,180.37 15,558.11 399,738.48 263,238.04 2027 TOTALS 263,238.04 3,254.24 266,492.28 -$

$ 3,401,550.00 595,834.76$ 3,997,384.76$

FOR KERN RESERVOIR / WINDSOR LAKE

WATER/NON-POTABLE FUND

BANK OF COLORADO LOAN REPAYMENT

10-Year Repayment at 3.25% - monthly payments

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$ 3,110,543.20 2/1/2012 $ 89,212.52 $ 25,158.22 $ 114,370.74 3,021,330.68 8/1/2012 89,212.52 27,734.63 116,947.15 2,932,118.16 2/1/2013 89,212.52 27,346.71 116,559.23 2,842,905.64 8/1/2013 89,212.52 27,356.65 116,569.17 2,753,693.12 2/1/2014 89,212.52 25,998.78 115,211.30 2,664,480.60 8/1/2014 89,212.52 25,998.78 115,211.30 2,575,268.08 2/1/2015 92,186.27 24,011.71 116,197.98 2,483,081.81 8/1/2015 92,186.27 24,011.71 116,197.98 2,390,895.54 2/1/2016 95,160.02 22,134.64 117,294.66 2,295,735.52 8/1/2016 95,160.02 22,134.64 117,294.66 2,200,575.50 2/1/2017 95,160.02 20,432.00 115,592.02 2,105,415.48

8/1/2017 95,160.02 20,432.00 115,592.02 2,010,255.46 2/1/2018 95,160.02 18,956.76 114,116.78 1,915,095.44 8/1/2018 95,160.02 18,956.76 114,116.78 1,819,935.42 2/1/2019 98,133.77 18,301.34 116,435.11 1,721,801.65 8/1/2019 98,133.77 18,301.34 116,435.11 1,623,667.88 2/1/2020 98,133.77 17,217.75 115,351.52 1,525,534.11

8/1/2020 98,133.77 17,217.75 115,351.52 1,427,400.34 2/1/2021 98,133.77 16,290.49 114,424.26 1,329,266.57 8/1/2021 98,133.77 16,290.49 114,424.26 1,231,132.80 2/1/2022 98,133.77 15,488.31 113,622.08 1,132,999.03 8/1/2022 98,133.77 15,488.31 113,622.08 1,034,865.26 2/1/2023 101,107.52 14,740.84 115,848.36 933,757.74 8/1/2023 101,107.53 14,740.84 115,848.37 832,650.21 2/1/2024 101,107.52 14,067.37 115,174.89 731,542.69 8/1/2024 101,107.53 14,067.37 115,174.90 630,435.16 2/1/2025 101,107.52 11,393.33 112,500.85 529,327.64 8/1/2025 101,107.53 11,393.33 112,500.86 428,220.11 2/1/2026 104,081.27 8,338.99 112,420.26 324,138.84 8/1/2026 104,081.28 8,338.99 112,420.27 220,057.56 2/1/2027 110,028.78 4,110.76 114,139.54 110,028.78 8/1/2027 110,028.78 4,110.76 114,139.54 (0.00)$

$ 3,110,543.20 $ 570,562.35 3,681,105.55

WASTEWATER TREATMENT FACILITY UPGRADE

SEWER FUND

COLORADO WATER RESOURCES AND POWER DEVELOPMENT AUTHORITY (CWRPDA)LOAN Repayment at 1.94%

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The Town entered into an additional loan agreement with Colorado Water Conservation Board (CWCB) in January 2014 for the purchase of the Kyger Reservoir for $4,545,000 for a term of 20 years with an interest rate of 2.75% per annum and includes a service fee of 1% of the project amount. Loan payments will be in equal annual payments of $298,478.02.


4,545,000.00$ 2/1/2018 173,490.52$ 124,987.50$ 298,478.02$ 4,371,509.48 2/1/2019 178,261.51 $120,216.51 $298,478.02 4,193,247.97 2/1/2020 183,163.70 115,314.32 298,478.02 4,010,084.27 2/1/2021 188,200.70 110,277.32 298,478.02 3,821,883.57 2/1/2022 193,376.22 105,101.80 298,478.02 3,628,507.35 2/1/2023 198,694.07 99,783.95 298,478.02 3,429,813.28 2/1/2024 204,158.15 94,319.87 298,478.02 3,225,655.13 2/1/2025 209,772.50 88,705.52 298,478.02 3,015,882.63 2/1/2026 215,541.25 82,936.77 298,478.02 2,800,341.38 2/1/2027 221,468.63 77,009.39 298,478.02 2,578,872.75 2/1/2028 227,559.02 70,919.00 298,478.02 2,351,313.73 2/1/2029 233,816.89 64,661.13 298,478.02 2,117,496.84 2/1/2030 240,246.86 58,231.16 298,478.02 1,877,249.98 2/1/2031 246,853.65 51,624.37 298,478.02 1,630,396.33 2/1/2032 253,642.12 44,835.90 298,478.02 1,376,754.21 2/1/2033 260,617.28 37,860.74 298,478.02 1,116,136.93 2/1/2034 267,784.25 30,693.77 298,478.02 848,352.68 2/1/2035 275,148.32 23,329.70 298,478.02 573,204.36 2/1/2036 282,714.90 15,763.12 298,478.02 290,489.46 2/1/2037 290,489.46 7,988.46 298,477.92 -$

$4,545,000.01 $1,424,560.29 $5,969,560.30

COLORADO WATER CONSERVATION BOARD LOAN REPAYMENT

WATER FUND

FOR KYGER RESERVOIR PROJECTLoan Contract Number C150366

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Financial Planning 02/01The public report burden for this information collection is estimated to average 380 hours annually. Form # 350-050-36

City or County:

YEAR ENDING :December 2018

This Information From The Records Of (example - City of _ or County of _): Prepared By: Phone:

A. Local B. Local C. Receipts from D. Receipts from Motor-Fuel Motor-Vehicle State Highway- Federal Highway

Taxes Taxes User Taxes Administration1. Total receipts available2. Minus amount used for collection expenses3. Minus amount used for nonhighway purposes4. Minus amount used for mass transit5. Remainder used for highway purposes

AMOUNT AMOUNTA. Receipts from local sources: A. Local highway disbursements: 1. Local highway-user taxes 1. Capital outlay (from page 2) 15,825,688 a. Motor Fuel (from Item I.A.5.) 2. Maintenance: 1,604,952 b. Motor Vehicle (from Item I.B.5.) 3. Road and street services: c. Total (a.+b.) a. Traffic control operations 2. General fund appropriations b. Snow and ice removal 3. Other local imposts (from page 2) 6,830,858 c. Other 4. Miscellaneous local receipts (from page 2) 239,799 d. Total (a. through c.) 0 5. Transfers from toll facilities 4. General administration & miscellaneous 362,106 6. Proceeds of sale of bonds and notes: 5. Highway law enforcement and safety 2,338,816 a. Bonds - Original Issues 6. Total (1 through 5) 20,131,562 b. Bonds - Refunding Issues B. Debt service on local obligations: c. Notes 1. Bonds: d. Total (a. + b. + c.) 0 a. Interest 7. Total (1 through 6) 7,070,657 b. RedemptionB. Private Contributions 11,145,461 c. Total (a. + b.) 0C. Receipts from State government 2. Notes: (from page 2) 1,982,190 a. Interest 4,133D. Receipts from Federal Government b. Redemption 62,613 (from page 2) 0 c. Total (a. + b.) 66,746E. Total receipts (A.7 + B + C + D) 20,198,308 3. Total (1.c + 2.c) 66,746

C. Payments to State for highwaysD. Payments to toll facilitiesE. Total disbursements (A.6 + B.3 + C + D) 20,198,308

Opening Debt Amount Issued Redemptions Closing DebtA. Bonds (Total) 0 1. Bonds (Refunding Portion)B. Notes (Total) 827,523 62,613 764,910

A. Beginning Balance B. Total Receipts C. Total Disbursements D. Ending Balance E. Reconciliation20,198,308 20,198,308 0

Notes and Comments:

FORM FHWA-536 (Rev. 1-05) PREVIOUS EDITIONS OBSOLETE (Next Page)

LOCAL HIGHWAY FINANCE REPORT

I. DISPOSITION OF HIGHWAY-USER REVENUES AVAILABLE FOR LOCAL GOVERNMENT EXPENDITURE

ITEM

III. DISBURSEMENTS FOR ROAD

V. LOCAL ROAD AND STREET FUND BALANCE

ITEM

II. RECEIPTS FOR ROAD AND STREET PURPOSES

IV. LOCAL HIGHWAY DEBT STATUS(Show all entries at par)

ITEM AND STREET PURPOSESDraft

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See accompanying independent auditor’s report

STATE:ColoradoYEAR ENDING (mm/yy):December 2018

AMOUNT AMOUNTA.3. Other local imposts: A.4. Miscellaneous local receipts: a. Property Taxes and Assessments a. Interest on investments 17,083 b. Other local imposts: b. Traffic Fines & Penalities 222,716 1. Sales Taxes 2,512,958 c. Parking Garage Fees 2. Infrastructure & Impact Fees 3,851,266 d. Parking Meter Fees 3. Liens e. Sale of Surplus Property 4. Licenses f. Charges for Services 5. Specific Ownership &/or Other 466,634 g. Other Misc. Receipts 6. Total (1. through 5.) 6,830,858 h. Other c. Total (a. + b.) 6,830,858 i. Total (a. through h.) 239,799

(Carry forward to page 1) (Carry forward to page 1)

AMOUNT AMOUNTC. Receipts from State Government D. Receipts from Federal Government 1. Highway-user taxes 1,072,100 1. FHWA (from Item I.D.5.) 2. State general funds 2. Other Federal agencies: 3. Other State funds: a. Forest Service a. State bond proceeds b. FEMA b. Project Match c. HUD c. Motor Vehicle Registrations 577,567 d. Federal Transit Admin d. Other (Specify) - DOLA Grant 332,523 e. U.S. Corps of Engineers e. Other (Specify) f. Other Federal f. Total (a. through e.) 910,090 g. Total (a. through f.) 0 4. Total (1. + 2. + 3.f) 1,982,190 3. Total (1. + 2.g)

(Carry forward to page 1)

ON NATIONAL OFF NATIONALHIGHWAY HIGHWAY TOTALSYSTEM SYSTEM

(a) (b) (c)A.1. Capital outlay: a. Right-Of-Way Costs 0 b. Engineering Costs 183,956 183,956 c. Construction: (1). New Facilities 11,145,461 11,145,461 (2). Capacity Improvements 697,214 697,214 (3). System Preservation 3,388,677 3,388,677 (4). System Enhancement & Operation 410,380 410,380 (5). Total Construction (1) + (2) + (3) + (4) 0 15,641,732 15,641,732 d. Total Capital Outlay (Lines 1.a. + 1.b. + 1.c.5) 0 15,825,688 15,825,688

(Carry forward to page 1) Notes and Comments:

FORM FHWA-536 (Rev.1-05) PREVIOUS EDITIONS OBSOLETE

III. DISBURSEMENTS FOR ROAD AND STREET PURPOSES - DETAIL

II. RECEIPTS FOR ROAD AND STREET PURPOSES - DETAIL

LOCAL HIGHWAY FINANCE REPORT

ITEM ITEM

ITEM ITEMDraft

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STATISTICAL SECTION

This section of the Town of Windsor 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. This information is unaudited.

Contents Page Financial Trends 89

These schedules contain trend information to help the reader understand how the Town’s financial performance and well-being have changed over time.

Revenue Capacity 95

These schedules contain information to help the reader assess the Town’s largest revenue sources, sales and use taxes, and property tax.

Debt Capacity 104

These schedules present information to help the reader assess the affordability of the Town’s current levels of outstanding debt and the Town’s ability to issue additional debt in the future.

Demographic and Economic Information 110

These schedules offer demographic and economic indicators to help the reader understand the environment within which the Town’s financial activities take place.

Operating Information 113

These schedules contain service and infrastructure data to help the reader understand how the information in the Town’s financial report relates to the services the Town provides and the activities it performs.

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89

NET POSITION BY COMPONENT Last Ten Calendar Years (accrual basis of accounting)

(Unaudited)

Notes: As per GASB 63, 2011 and prior in the above chart represents: Net Assets as opposed to Net Position; Invested in capital assets, net of related debt as opposed to net investment in capital assets; and does not include the new Downtown Development Authority component unit, only the primary government. GASB 68 implemented in 2015 Sources: Current and prior years’ financial statements.

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Governmental Activities

Net inv estment in capital

assets 66,543,815$ 68,435,996$ 69,741,468$ 71,372,079$ 66,966,909$ 66,536,176$ 53,524,675$ 73,455,414$ 81,820,938$ 86,835,227$

Restricted 3,002,668 3,197,413 5,259,855 5,722,444 8,807,193 10,417,938 27,982,345 21,025,196 19,940,671 30,345,657

Unrestricted 5,106,232 5,095,783 4,925,404 4,872,377 7,081,429 8,377,069 8,846,187 12,972,472 16,507,335 21,519,246

Total gov ernmental

activ ities net position 74,652,715 76,729,192 79,926,727 81,966,900 82,855,531 85,331,183 90,353,207 107,453,082 118,268,944 138,700,130

Business-type Activities


assets 72,733,118 72,788,122 74,875,222 76,752,836 77,401,561 80,556,471 86,778,936 103,763,546 117,460,587 132,583,568

Restricted - - - 1,250,000 1,250,000 1,250,000 1,250,000 1,250,000 1,250,000 1,250,000

Unrestricted 16,678,418 17,704,468 18,804,020 21,342,334 24,135,848 24,486,851 26,902,794 28,206,518 28,070,451 31,101,768

Total business-ty pe

activ ities net position 89,411,536 90,492,590 93,679,242 99,345,170 102,787,409 106,293,322 114,931,730 133,220,064 146,781,038 164,935,336

Net Position


assets 139,276,933 141,224,118 144,616,690 148,124,915 144,368,470 147,092,647 140,303,611 177,218,960 199,281,525 219,418,795

Restricted 3,002,668 3,197,413 5,259,855 6,972,444 10,057,193 11,667,938 29,232,345 22,275,196 21,190,671 31,595,657

Unrestricted 21,784,650 22,800,251 23,729,424 26,214,711 31,217,277 32,863,920 35,748,981 41,178,990 44,577,786 52,621,014

Total primary gov ernment

net position 164,064,251$ 167,221,782$ 173,605,969$ 181,312,070$ 185,642,940$ 191,624,505$ 205,284,937$ 240,673,146$ 265,049,982$ 303,635,466$

Net Position by ComponentLast Ten Calendar Years

(accrual basis of accounting) (Unaudited)

for the fiscal year ended December 31,

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90

CHANGES IN NET POSITION Last Ten Calendar Years (1) (accrual basis of accounting)

(Unaudited)

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

ExpensesGov ernmental activ ities:

General gov ernment 2,340,659$ 2,469,265$ 2,450,785$ 2,674,626$ 2,731,588$ 3,490,765$ 3,748,233$ 4,273,283$ 5,034,098$ 5,326,249$

Public safety 2,310,299 2,430,053 2,664,155 2,826,313 2,938,201 3,092,222 3,510,691 3,701,539 4,298,211 4,879,991

Public w orks 5,245,719 5,261,225 5,457,935 5,662,954 5,551,046 6,707,613 7,175,480 7,409,738 8,445,118 9,382,492

Parks, recreation & culture 4,525,218 4,604,283 4,616,024 4,498,409 5,163,907 4,624,500 4,890,399 5,818,082 7,634,854 8,271,754

Community dev elopment 1,497,962 1,489,965 1,589,562 1,819,818 1,391,260 497,796 701,861 365,167 413,032 337,220

Safety and loss control 8,793 7,599 6,764 2,778 7,422 3,536 4,844 4,084 4,671 7,716

Community center - - - - - - - - -

Small equipment & maintenance 1,068,229 954,012 1,782,485 1,353,245 1,321,535 2,192,671 1,983,466 2,621,645 4,666,480 4,512,849

Assets conv ey ed to other gov ernments - - - - 2,408,601 152,245 - - -

Loss on disposal of capital assets 97,715 44,071 - - - - - - -

Debt issuance costs - - - 107,184 - - 237,578 - -

Interest on long-term debt 656,591 201,024 329,985 180,236 186,788 189,438 554,517 770,591 1,064,720 549,781

Total gov ernmental activ ities 17,751,185 17,461,497 18,897,695 19,125,563 21,700,348 20,950,786 22,807,069 24,964,129 31,561,184 33,268,052

Business-ty pe activ ities:

Water 2,765,244 2,849,014 2,711,740 3,287,679 2,961,686 3,300,658 3,608,724 4,772,739 4,633,199 4,719,698

Sew er 1,594,425 1,587,205 1,488,890 1,537,136 2,160,376 1,946,739 2,271,608 2,398,095 2,187,404 2,517,297

Storm drainage 825,013 725,892 608,734 672,899 605,811 591,172 603,962 621,030 712,496 792,472

Non-potable w ater(2) 481,335 138,887 294,879 269,505 323,532 - - - -

Total business-ty pe activ ities 5,666,017 5,300,998 5,104,243 5,767,219 6,051,405 5,838,569 6,484,294 7,791,864 7,533,099 8,029,467

Total primary gov ernment 23,417,202 22,762,495 24,001,938 24,892,782 27,751,753 26,789,355 29,291,363 32,755,993 39,094,283 41,297,519

Program RevenuesGov ernmental activ ities: Charges for serv ices:

General gov ernment - - - - - - - - -

Public safety 46,971 19,043 184,708 227,231 207,671 210,620 221,694 210,801 225,113 260,163

Public w orks 48,600 97,137 297,237 479,043 567,546 513,932 514,152 699,088 1,182,427 5,195,993


Community dev elopment - - - - - - - - -

Community center - - - - - - - - -

Operating grants and contributions 136,533 629,751 18,691 11,250 1,936,182 2,004,711 1,977,623 1,823,088 2,272,232 2,416,664

Capital grants and contributions 6,435,751 2,207,216 2,828,024 818,017 585,453 811,664 2,272,849 7,604,489 5,339,370 11,514,950


Business-ty pe activ ities: Charges for serv ices:

Water 3,123,259 3,278,404 3,590,885 4,163,251 4,093,797 4,268,497 5,356,981 4,787,506 4,558,911 5,105,331

Sew er 1,631,304 1,610,672 1,638,591 1,697,989 1,755,725 1,837,969 2,020,489 2,045,784 2,186,967 2,339,480

Storm drainage 317,313 292,357 341,822 305,141 329,018 323,535 406,900 393,807 361,712 382,800

Capital grants and contributions 5,534,074 2,069,869 4,090,958 5,510,832 3,579,048 2,787,806 7,888,412 19,149,791 13,357,860 18,535,382

Total business-ty pe activ ities 10,605,950 7,251,302 9,662,256 11,677,213 9,757,588 9,217,807 15,672,782 26,376,888 20,465,450 26,362,993

Total primary gov ernment $18,425,244 $11,614,759 $14,899,023 $16,033,399 $15,509,468 $14,624,648 $22,724,128 $41,057,632 $35,275,283 $52,549,700

Changes in Net PositionLast Ten Calendar Years (1)

(accrual basis of accounting) (Unaudited)


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91

CHANGES IN NET POSITION (continued)

Last Ten Calendar Years (accrual basis of accounting)

(Unaudited)

Notes: (1) Prior to implementation of GASB 63 in 2012, the above chart represents Net Assets as opposed

to Net Position. (2) Years 2008 and 2014-2016 the Non-potable water was included in the Water Fund

Sources: Current and prior years’ financial statements.

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Net (Expense)/RevenueGov ernmental activ ities (9,931,891)$ (13,098,040)$ (13,660,928)$ (14,769,377)$ (15,948,468)$ (15,543,945)$ (15,755,723)$ (10,283,385)$ (16,751,351)$ (7,081,345)$

Business-ty pe activ ities 4,939,933 1,950,304 4,558,013 5,909,994 3,706,183 3,379,238 9,188,488 18,585,024 12,932,351 18,333,526

Total primary gov ernment net

ex penses (4,991,958) (11,147,736) (9,102,915) (8,859,383) (12,242,285) (12,164,707) (6,567,235) 8,301,639 (3,819,000) 11,252,181

General Revenues and Other Changes in Net PositionGov ernmental activ ities:

Tax es

Property tax es 3,412,104 4,158,343 4,332,996 4,059,462 4,049,110 4,036,268 4,171,557 5,074,514 5,496,800 5,925,226

Sales and use tax 5,843,736 5,948,090 6,807,775 7,699,121 9,061,884 9,244,616 12,589,346 14,963,691 16,021,688 17,935,764

Franchise tax es 1,225,888 1,123,574 1,178,866 1,202,273 1,336,785 1,424,084 1,446,170 1,507,839 1,586,318 1,669,430

Other tax es 1,023,716 908,888 1,206,340 1,441,770 1,325,085 1,188,164 1,400,488 2,221,667 2,868,030 624,118

Intergov ernmental 943,578 1,074,207 111,120 1,747,799 - - - - -

Unrestricted grants and contributions - - - - - - - - -

Earnings on inv estments 169,331 100,205 96,826 77,273 171,414 151,137 221,694 309,143 333,530 502,912

Other rev enue 2,359,401 873,363 267,979 107,057 275,680 2,005,420 622,998 2,603,832 1,375,986 2,351,515

Gain (loss) on sale of capital assets - - - 65,780 58,500 611,222 (19,891) 14,500 (2,421,957)

Transfers in (out)/ insurance proceeds 487,184 987,846 1,791,518 541,448 558,641 (641,314) 154,551 702,574 (129,639) 925,523


Business-ty pe activ ities:


Other rev enue 26,547 28,187 270,456 66,074 31,500 47,494 63,273 - 65,957 77,031

Gain (loss) on sale of capital assets (1,923,217) - - - - (877,500) - - -

Transfers (487,184) (987,846) (1,791,518) (541,448) (558,641) 641,314 (154,551) (702,574) 129,639 (925,523)

Total business-ty pe activ ities (2,239,423) (869,249) (1,371,361) (244,066) (263,944) 126,675 283,253 (296,690) 628,623 (179,228)

Total primary gov ernment 13,225,515 14,305,267 14,422,059 16,697,917 16,573,155 18,146,273 20,870,166 27,086,570 28,195,836 27,333,303

Changes in Net Position

Gov ernmental activ ities 5,533,047 2,076,476 2,132,492 2,172,606 888,631 2,475,652.88 4,831,190 17,099,875 10,815,862 20,431,186

Business-ty pe activ ities 2,700,510 1,081,055 3,186,652 5,665,928 3,442,239 3,505,913 9,471,741 18,288,334 13,560,974 18,154,298

Total primary gov ernment 8,233,557$ 3,157,531$ 5,319,144$ 7,838,534$ 4,330,870$ 5,981,566$ 14,302,931$ 35,388,209$ 24,376,836$ 38,585,484$

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92

CHANGES IN NET POSITION (continued) Last Ten Calendar Years (accrual basis of accounting)

(Unaudited)

Note: Only three activities are represented in this chart.

Note: Only the top two revenues are represented in this chart.

Sales and Use taxes from building permits were lower during 2008 through 2010 due to the economy. Other revenue, including other taxes, intergovernmental and insurance proceeds from the tornado account for much of the total revenue growth for 2008 through 2010. From there revenue shows a recovering economy. There was record-breaking construction in 2016.

Note: This is service charges collected for the utility funds and developer dedicated raw water. Drainage services the whole town, while water and sewer each only service parts of Windsor.

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93

FUND BALANCES OF GOVERNMENTAL FUNDS Last Ten Calendar Years

(modified accrual basis of accounting) (Unaudited)

Note: The Town implemented GASB Statement No. 54 in fiscal year 2011; therefore, the fund balances

beginning 2011 are presented with different classifications.


$0

$10

$20

$30

$40

$50

$60

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

in m

illions

Fund Balances of Governmental FundsTotal fund balanceReserved (Restricted 2009-2018)Unreserved (Unassigned 2009-2018)Assigned for special revenue funds

2009 2010 2011(2) 2012 2013 2014 2015 2016 2017 2018

General Fund

Reserv ed / Restricted * 302,569$ 366,234$ 367,017$ 363,060$ 400,862$ 398,703$ 410,660$ 452,256$ 502,077$ 560,409$

Unreserv ed / Unassigned * 3,524,859 4,849,941 4,850,086 5,349,797 6,873,513 7,775,518 8,344,502 9,106,627 10,519,640 12,622,393

Total General Fund 3,827,428 5,216,175 5,217,103 5,712,857 7,274,375 8,174,221 8,755,162 9,558,883 11,021,717 13,182,802

All Other Governmental Funds

Reserv ed / Restricted * 2,700,099 2,866,179 4,892,838 5,359,384 8,406,331 10,019,235 27,397,615 20,570,110 19,438,594 29,785,248

Assigned for special rev enue funds - - 2,464,923 2,098,252 2,577,063 3,097,356 2,942,439 6,097,247 8,662,611 10,914,169

Unreserv ed / Unassigned * 1,709,023 2,246,174 - - - - - - -

Total all other gov ernmental funds 4,409,122 5,112,353 7,357,761 7,457,636 10,983,394 13,116,591 30,340,054 26,667,357 28,101,205 40,699,417

Total General Fund + all other

gov ernmental funds 8,236,550$ 10,328,528$ 12,574,864$ 13,170,493$ 18,257,769$ 21,290,812$ 39,095,216$ 36,226,240$ 39,122,922$ 53,882,219$


Fund Balances of Governmental FundsLast Ten Calendar Years


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94

CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS Last Ten Calendar Years


2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

RevenuesTax es and assessments 11,505,444$ 12,138,895$ 13,525,977$ 14,402,626$ 15,772,864$ 15,893,132$ 19,607,561$ 23,767,711$ 25,972,836$ 26,154,538$

Licenses and permits 243,329 194,424 249,613 402,493 463,657 412,304 374,400 558,657 927,577 1,133,960

Intergov ernmental 943,578 1,074,207 1,176,163 1,747,799 1,625,085 1,984,709 1,971,834 1,781,566 1,822,867 2,328,371

Charges for serv ices 1,247,010 1,526,490 2,006,666 2,924,086 2,582,144 1,990,625 2,233,182 4,517,341 6,081,702 10,897,560

Fines and forfeitures 109,153 165,410 133,773 200,340 184,444 187,537 193,292 177,169 188,952 223,573


Grants and contributions 6,572,284 2,836,324 2,846,715 829,267 896,550 831,666 655,564 6,672,751 822,295 11,333,743

Miscellaneous 37,017 176,388 266,903 107,057 247,114 1,927,422 512,998 2,266,179 878,548 2,295,977 Total revenues 20,831,660 18,218,274 20,302,295 20,690,901 21,943,257 23,378,521 25,770,510 40,050,503 37,028,292 54,870,569

ExpendituresGeneral gov ernment 1,945,997 1,923,694 1,848,747 2,090,915 2,160,324 2,915,164 3,090,172 3,506,747 3,941,647 4,421,503

Public safety 2,157,411 2,160,243 2,350,682 2,543,883 2,661,338 2,838,639 3,187,567 3,307,394 3,723,484 4,527,808

Public w orks 2,191,542 2,046,832 1,980,741 2,062,330 2,086,678 3,271,253 3,480,393 3,594,145 3,911,740 4,101,075


Community dev elopment 1,345,074 1,243,176 1,298,061 1,539,445 1,118,673 237,819 363,544 326,596 381,613 314,319

Safety and loss control 8,793 7,599 6,764 2,778 7,422 3,536 4,844 4,084 4,671 7,725

Community center - - - - - - - - - -

Small equipment and maintenance 1,068,229 954,012 835,256 1,353,245 1,251,830 2,198,249 1,982,266 2,620,025 4,663,835 4,511,422

Debt serv ices

Principal 1,998,356 685,465 1,770,442 1,669,915 280,000 280,000 300,000 835,000 865,000 1,273,000

Interest 210,808 197,193 170,293 83,836 92,475 86,875 414,440 866,575 843,775 446,866

Debt issuance costs - - - 107,184 - - 237,578 - 117,360 3,070

Capital outlay 9,838,207 4,578,812 4,750,510 5,482,919 3,185,816 3,884,659 8,903,987 23,916,454 8,546,348 14,592,639

Total expenditures 24,653,200 17,609,684 18,774,608 20,598,824 17,198,837 19,559,085 25,930,488 43,476,973 32,973,321 40,746,635

Ex cess of rev enues ov er

(under) ex penditures (3,821,538) 608,590 1,527,687 92,077 4,744,420 3,819,436 (159,978) (3,426,470) 4,054,971 14,123,934

Other Financing Sources (Uses)Insurance proceeds/bond or loan proceeds 1,969,902 328,290 - 3,705,000 - - 16,100,000 - 15,480,000

Premiums on bonds - - - 189,944 - - 1,854,911 - -

agent - - - (3,787,760) - - - - (16,363,570)

Capital contributions subject to

reimbursement 428,099 167,252 - - - - - - -

Transfers in 1,164,098 1,809,680 3,495,445 881,015 645,540 1,144,768 1,211,696 1,765,830 1,854,552 1,020,425

Transfers out (1,110,684) (821,834) (1,829,567) (484,647) (231,979) (1,931,162) (1,202,225) (1,208,336) (2,129,271) (385,062)

Total other financing sources (uses) 2,451,415 1,483,388 1,665,878 503,552 413,561 (786,394) 17,964,382 557,494 (1,158,289) 635,363

Net change in fund balances (1,370,123)$ 2,091,978$ 3,193,565$ 595,629$ 5,157,981$ 3,033,044$ 17,804,404$ (2,868,976)$ 2,896,682$ 14,759,297$

Debt serv ice as a percentage of

noncapital ex penditure* 14.9% 6.8% 13.8% 11.6% 2.7% 4.2% 8.7% 7.0% 6.6%

Changes in Fund Balances of Governmental FundsLast Ten Calendar Years



Sources: Current and prior years’ financial statements. Chart Note: Radical differences are primarily due to large capital purchases and fluctuations due to the tornado expenditures in 2009. 2016 included the CRC expansion completion and use of 2015 reserves which included a bond for the expansion. 2016 and 2017 used reserves for building the Public Works Facility.

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95

GOVERNMENTAL TAX REVENUE BY SOURCE Last Ten Calendar Years

(Unaudited)

Note: (1) This category includes auto, franchise, severance, and Larimer County Open Space taxes. 2018 receipts are displaying a decline from prior years because Traffic Impact Fees are now included in Charges for Services. Sources: Current and prior years’ financial statements.

Total

Gov ernmental

Tax Rev enue

Amount % Amount % Amount % Amount

2018 5,925,226$ 22.65% 17,935,764$ 68.58% 2,293,548$ 8.8% 26,154,538$

2017 5,496,800 21.2% 16,021,688 61.7% 4,454,348 17.2% 25,972,836

2016 5,074,514 21.4% 14,963,691 63.0% 3,729,506 15.7% 23,767,711

2015 4,171,557 21.3% 12,589,346 64.2% 2,846,658 14.5% 19,607,561

2014 4,036,268 25.4% 9,244,616 58.2% 2,612,248 16.4% 15,893,132

2013 4,049,110 25.7% 9,061,884 57.5% 2,661,870 16.9% 15,772,864

2012 4,059,462 28.2% 7,699,121 53.5% 2,644,043 18.4% 14,402,626

2011 4,332,996 32.0% 6,807,775 50.3% 2,385,206 17.6% 13,525,977

2010 4,158,343 34.3% 5,948,090 49.0% 2,032,462 16.7% 12,138,895

2009 3,412,104 29.7% 5,843,736 50.8% 2,249,604 19.6% 11,505,444

Property Tax Sales & Use Tax es Other Tax (1)

Governmental Tax Revenues by SourceLast Ten Calendar Years (Unaudited)

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96

SALES TAX COLLECTIONS BY CATEGORY (SAMPLE ACCOUNTS 2008-2014 ONLY) Last Ten Calendar Years

(Unaudited)

Note: Information in this chart is not all inclusive of all accounts but representative of main business

collections.

Sample accounts were maintained 2008-2014. 2015 includes actual Category amounts Mar-Dec 2015 and 2015 forward.

Notes: Information in these charts are not all inclusive of all accounts but representative of main business collections.

Home Rule 2005 to present. 2018 Sales tax rate is 3.95%.

Sources: Town of Windsor Sales Tax Reports

Grocery /

Conv enience/

Gas Station Restaurants Liquor

Construction/

Hardw are Other Retail

Finance/

Leasing/

Rentals

Utilities/

Telecom/

Communicaiton

Auto Sales

& Serv ice Industry Lodging

Enter-

tainment

Total Sample

Accounts

Total Sales

Tax

Collections

2018 3,103,011$ 1,435,851$ 374,140$ 1,370,293$ 559,843$ 2,118,136$ 1,161,712$ 1,763,335$ 571,422$ 707,876$ 80,450$ 331,170$ 13,577,242$ 13,356,752$

% of Total 22.9% 10.6% 2.8% 10.1% 4.1% 15.6% 8.6% 13.0% 4.2% 5.2% 0.6% 2.4% 100.0%

% of

Change 9.2% 10.4% 17.9% 37.9% 18.0% 21.8% 17.6% 3.2% 10.9% 176.1% 6.1% 1.6% 17.7% 11.5%

2018 $ 3,103,011 $ 1,435,851 $ 374,140 $ 1,370,293 $559,843 $ 2,118,136 $ 1,161,712 $ 1,763,335 $ 571,422 $707,876 $80,450 $331,170 13,577,242$ $ 13,356,752

2017 2,842,208 1,301,060 317,203 993,672 474,319 1,739,596 987,733 1,708,865 515,471 256,343 75,839 325,903 11,538,212 11,974,565

2016 2,681,118 1,134,576 304,337 845,034 473,757 1,357,655 1,095,232 1,618,084 463,304 449,155 73,657 306,157 10,802,066 10,775,456

2015 1,997,286 877,503 239,265 516,359 355,490 996,154 913,076 1,426,345 343,149 277,092 69,950 253,492 8,265,161 10,150,274

2014 1,907,648 724,265 217,119 210,321 N/A 445,771 N/A 1,434,223 664,802 424,429 75,912 134,463 6,238,953 7,875,879

2013 1,723,020 708,346 206,155 187,061 N/A 383,581 N/A 1,171,728 516,472 91,946 55,885 55,239 5,099,433 7,033,014

2012 1,520,983 644,321 198,862 169,689 N/A 261,420 N/A 1,287,931 435,027 41,380 46,516 50,224 4,656,353 5,579,576

2011 1,413,034 599,983 200,063 171,083 N/A 260,395 N/A 1,219,075 345,253 88,956 36,511 45,199 4,379,552 5,338,081

2010 1,330,896 582,867 181,821 134,889 N/A 278,472 N/A 1,243,628 281,404 80,409 29,642 43,742 4,187,770 5,039,276

2009 1,345,308 571,744 186,795 262,252 N/A 263,685 N/A 1,100,593 290,326 103,336 30,351 47,630 4,202,020 4,931,982

Sales Tax Collections by Category (Sample Accounts 2008-2014 only)Last Ten Calendar Years (Unaudited)

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97

PRINCIPAL SALES TAX CATEGORIES Current and Nine Years Prior

(Unaudited)

Top Five Categories 2009 Sample 2018 Actual

Grocery & Convenience $ 1,345,308 $ 3,103,011

Retail 263,685 2,118,136

Utilities 1,100,593 1,763,335

Restaurants 571,744 1,435,851

Construction/ Hardware 262,252 1,370,293

Total $ 3,543,582 $ 9,790,627

Aggregate all other categories 1,388,400 3,786,615

Total sales tax (sample accounts) $ 4,931,982 $ 13,577,242

Top five categories 71.8% 72.1% as a percentage of total sales tax

Note: Information in this chart is not all inclusive of all accounts for 2009 but is representative of main

business collections.

Note: Information in this chart is not all inclusive of all accounts for 2009 but is representative of main

business collections. Source: Town of Windsor Sales Tax Reports

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98

DIRECT AND OVERLAPPING SALES TAX RATES Last Ten Calendar Years

(Unaudited)

Note: (1) Retail sales tax including food

(2) Retail sales tax excluding food


Larimer and Weld County Assessors Offices.

Fiscal Year

Town of Windsor

Direct

Sales Tax Rate(1)

State of

Colorado(2)

Weld

County

Larimer

County

Combined direct and

overlapping rate for

Windsor-Weld County

Combined direct and

overlapping rate for

Windsor-Larimer

County

2009 3.20% 2.90% 0.00% 0.80% 6.10% 6.90%2010 3.20% 2.90% 0.00% 0.80% 6.10% 6.90%2011 3.20% 2.90% 0.00% 0.80% 6.10% 6.70%2012 3.20% 2.90% 0.00% 0.60% 6.10% 6.70%2013 3.20% 2.90% 0.00% 0.60% 6.10% 6.70%2014 3.20% 2.90% 0.00% 0.60% 6.85% 7.50%2015 3.95% 2.90% 0.00% 0.65% 6.85% 7.50%2016 3.95% 2.90% 0.00% 0.65% 6.85% 7.50%2017 3.95% 2.90% 0.00% 0.65% 6.85% 7.50%2018 3.95% 2.90% 0.00% 0.55% 6.85% 7.40%

Overlapping Rates

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99

ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY Last Ten Calendar Years

(Unaudited)

Notes: Tax rates are per $1,000 of assessed value. Assessed Value: All real property in Colorado is reappraised on a two-year cycle, in odd-numbered

years. The actual value assigned to residential properties in 2018 is based on market values as of June 30, 2017, as defined by sales of residential property in the 24-month period from July 1, 2015, to June 30, 2017. All sales are trended to the end of the data collection period.

Sources: Larimer and Weld County Assessors Offices.

$0$50$100$150$200$250$300$350$400

2018201720162015201420132012201120102009

in millions

for fiscal year ended December 31,

Comparison of Assessed Valuations

Weld County

Larimer County

Year Ended

December 31

Larimer County

Assessed Value

Weld County

Assessed Value

Total

Assessed

Value

Estimated

Actual

Value

Ratio of

Assessed

Value to

Actual Value

Lev y

Year

Total Direct

Tax Rate

2018 130,127,944$ 366,342,930$ 496,470,874$ 4,430,120,877$ 11.21% 2017 12.03

% change 7.1% 7.9% 7.7% 7.8%

2018 130,127,944$ 366,342,930$ 496,470,874$ 4,430,120,877$ 11.21% 2017 12.03

2017 121,453,639$ 339,474,990$ 460,928,629$ 4,110,889,039$ 11.21% 2016 12.03

2016 117,894,315 307,337,500 425,231,815 3,210,252,540 13.25% 2015 12.03

2015 95,941,770 253,814,250 349,756,020 2,667,628,514 13.11% 2014 12.03

2014 88,685,380 256,910,701 345,596,081 2,458,521,024 14.06% 2013 12.03

2013 82,563,660 257,736,690 340,300,350 2,352,676,491 14.46% 2012 12.03

2012 80,632,340 263,810,920 344,443,260 2,287,406,027 15.06% 2011 12.03

2011 87,651,290 281,058,440 368,709,730 2,493,273,103 14.79% 2010 12.03

2010 88,509,807 267,850,150 356,359,957 2,414,684,385 14.76% 2009 12.03

2009 89,961,587 196,418,530 286,380,117 2,270,939,841 12.61% 2008 12.03

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100

PROPERTY TAX LEVIES AND COLLECTIONS Last Ten Years

(Unaudited)

Note: (1) Taxes levied is for the year of which levied. (2) YTD Treasurers' Tax Distribution (3) Negative values reflect subsequent rebates and adjustments.

Sources: Larimer and Weld County Assessors Offices.

Total

Assessed

Value

Tow n of

Windsor

Lev y

Lev y

Year

Fiscal

Year

Tax es Lev ied

for the Fiscal

Year (1) Tax Amount (2)

Percentage

of Lev y

Collections and

Adjustments in

Subsequent Years (3) Tax Amount

Percentage

of Lev y Tax Amount

Percentage

of Lev y

$ 496,470,874 12.030 2018 2018 5,972,545$ 5,904,356$ 98.86% 20,869$ 5,925,225$ 99.21% 47,320$ 0.8%

460,928,629 12.030 2017 2017 5,544,971 5,475,584 98.75% 32,837 5,496,800 99.13% 48,171 0.9%

425,231,815 12.030 2016 2016 5,115,539 5,066,540 99.04% 37,897 5,104,438 99.78% 11,101 0.2%

349,756,020 12.030 2015 2015 4,207,565 4,205,554 99.95% (34,045) 4,171,509 99.14% 36,056 0.9%

345,596,081 12.030 2014 2014 4,157,521 4,069,762 97.89% (33,494) 4,036,268 97.08% 121,253 2.9%

340,300,350 12.030 2013 2013 4,093,813 4,087,429 99.84% (38,319) 4,049,110 98.91% 44,703 1.1%

344,443,260 12.030 2012 2012 4,143,652 4,104,135 99.05% (44,673) 4,059,462 97.97% 84,190 2.0%

368,709,730 12.030 2011 2011 4,435,578 4,341,140 97.87% (8,132) 4,333,008 97.69% 102,570 2.3%

356,359,957 12.030 2010 2010 4,287,010 4,202,033 98.02% (43,690) 4,158,343 97.00% 128,667 3.0%

286,380,117 12.030 2009 2009 3,445,153 3,425,708 99.44% (13,604) 3,412,104 99.04% 33,049 1.0%

Property Tax Levies and CollectionsLast Ten Years

Collected within the Fiscal Year of the Levy

Total Collections to Date

Total Uncollected Taxes

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101

PROPERTY TAX RATES –DIRECT AND OVERLAPPING GOVERNMENTS Last Ten Years per $1,000 of Assessed Valuation (Unaudited)

Note: Not all of these entities overlap every parcel in the Town. Sources: Larimer and Weld County Assessors and Treasurers Offices, and Colorado Department of Local Affairs.

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102

PROPERTY TAX RATES – DIRECT AND PRIMARY OVERLAPPING (1) GOVERNMENTS Last Ten Years per $1,000 of Assessed Valuation

(Unaudited)

Notes: (1) Overlapping rates are those of local and county governments that apply to property owners within the

Town of Windsor. The Town of Windsor operating and Windsor-Severance Fire Rescue overlap with only one of the counties and one school district. Thus, the Total Windsor/Weld Co Tax Rate includes Windsor's operating, Weld County, Windsor RE-4 and Windsor-Severance Fire Rescue. Windsor/Larimer Co Tax Rate includes Windsor's operating, Larimer County, Thompson R2-J, Poudre R-1, and Windsor-Severance Fire Rescue.

(2) These are only the primary overlapping taxing districts. Several smaller districts, shown on the

previous page, overlap as well. Sources: Larimer and Weld County Assessors and Treasurers Offices.

Total Town O perating

Millage

Weld County O verlapping

Millage

Larimer O verlapping

Millage

Windsor RE-4 School District

Thompson R2-J School

District

Poudre R-1 School District

Windsor-Severance

Fire Rescue

Windsor/Weld Co Tax Rate

Windsor/Larimer Co Tax Rate

2009 12.030 16.804 22.435 46.372 0.500 22.435 12.148 87.354 47.1132010 12.030 16.804 22.524 48.449 0.500 22.524 19.224 96.507 54.2782011 12.030 16.804 22.472 48.991 0.500 22.472 19.224 97.049 54.2262012 12.030 16.804 22.520 47.949 0.500 22.520 7.964 84.747 43.0142013 12.030 16.804 22.424 47.505 0.500 75.187 19.224 95.563 54.1782014 12.030 39.000 22.458 47.297 0.489 75.088 19.224 117.551 54.2012015 12.030 39.000 21.882 41.494 0.476 74.512 19.278 111.802 53.6662016 12.030 39.000 22.521 48.216 0.500 75.151 19.224 118.470 54.2752017 12.030 39.000 22.092 49.190 0.500 74.722 19.224 119.444 53.8462018 12.030 41.139 22.403 44.827 0.494 75.033 19.224 117.220 54.151

CountyTotal

Direct and Overlapping Rates

Town of Windsor Property Tax Rates Direct and Primary Overlapping(1) Governments Last Ten Years

School District

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103

PRINCIPAL PROPERTY TAXPAYERS Current Year and Eight Years Prior

(Unaudited)

Note: Change in format of CAFR. In future years, as information becomes available,

additional years will be presented. List does not include oil and gas property owners or developers

Sources: Weld and Larimer County Assessors Offices.

Taxpayer Ass

esse

d V

alue

(in

mil

lion

s)

Ran

k

% o

f Tot

al T

own

Ass

esse

d V

alue

Extraction Oil & Gas LLC $89.6 1 18.05%Vestas B lades America Inc. $25.9 1 7.27% $30.0 1 8.14% $31.0 1 9.00% $28.1 1 8.26% $20.6 1 5.96% $24.1 1 6.89% $26.8 1 6.30% $26.9 1 5.84% 26.5 2 5.34%Brockway Glass Container Inc. 12.2 3 3.43% 11.3 3 3.07% 11.3 3 3.29% 11.0 3 3.24% 9.5 3 2.75% 9.0 3 2.57% 9.0 2 2.12% 9.4 3 2.04% 9.4 3 1.89%Owens Brockway Glass Container Inc. 16.7 2 4.69% 15.1 2 4.10% 13.2 2 3.85% 12.4 2 3.64% 10.8 2 3.13% 10.1 2 2.89% 8.7 3 2.05% 9.7 2 2.10% 8.7 4 1.75%

M etal Container Corp. 7.4 5 2.08% 7.5 6 2.02% 7.5 5 2.18% 7.4 5 2.17% 7.2 5 2.08% 6.8 4 1.94% 6.6 5 1.55% 6.4 5 1.39% 6.1 5 1.23%Front Range Energy LLC 10.1 4 2.84% 9.6 4 2.61% 9.1 4 2.64% 8.8 4 2.57% 8.1 4 2.34% 6.7 5 1.92% 7.0 4 1.65% 6.4 4 1.39% 5.9 6 1.19%Public Service Do of Colo (Xcel) 3.8 7 1.09% 4.4 6 1.03% 4.6 6 1.00% 5.3 7 1.07%

Tolmar Inc. 2.7 10 0.59% 4.6 8 0.93%

Hexcel Corp. 7.3 6 2.04% 8.4 5 2.28% 5.7 6 1.67% 4.8 6 1.41% 4.6 6 1.33% 4.3 6 1.23% 4.2 7 0.99% 4.2 7 0.91% 3.9 9 0.79%

Plateplus Inc. 3.0 10 0.60%BCG Enterprises LTD LLLP 2.0 8 0.56% 2.0 9 0.53% 2.0 8 0.57% 1.9 9 0.57% 1.9 9 0.55% 2.8 11 0.56%New Windsor Station LLC 2.8 7 0.82% 2.1 8 0.61% 2.1 8 0.61% 2.1 9 0.60% 2.5 12 0.50%

$87.6 24.59% $90.2 24.48% $86.0 25.03% $81.0 23.80% $69.3 20.05% $71.7 20.50% $74.7 17.57% $76.5 16.60% $168.3 33.90%

Total Town Assessed Valuation ( in millions) $356.4 $368.7 $344.4 $340.3 $345.6 $349.8 $425.2 $460.9 $496.5

20122010 20162015

Current Year and Eight Years Prior (Unaudited)Principal Property Tax Payers

20142013 20182011 2017

AssessedValue

(in m

illions)

Ran

k

% of To

tal

Town Assessed

Value

AssessedValue

(in m

illions)

Ran

k

% of To

tal

Town Assessed

Value

AssessedValue

(in m

illions)

Ran

k

% of To

tal

Town Assessed

Value

AssessedValue

(in m

illions)

Ran

k

% of To

tal

Town Assessed

Value

AssessedValue

(in m

illions)

Ran

k

% of To

tal

Town Assessed

Value

AssessedValue

(in m

illions)

Ran

k

% of To

tal

Town Assessed

Value

AssessedValue

(in m

illions)

Ran

k

% of To

tal

Town Assessed

Value

AssessedValue

(in m

illions)

Ran

k

% of To

tal

Town Assessed

Value

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104

COMPUTATION OF LEGAL DEBT MARGIN As of December 31, 2017

(Unaudited) The Town of Windsor’s debt represents bonds secured solely by specified revenue sources such as Sales and Use Tax Revenue and Refunding Bonds, Colorado Water Conservation Board loans for the Kern and Kyger Reservoirs, Sewer Waste Water Treatment Plant from Colorado Water Resources and Power Development Authority loan, and a Windsor Building Authority term note payable to the USDA. As the Town has no general obligation debt, the following computations are applied to the current long-term debt. Policy#1: The Town’s debt policy states general obligation debt will not exceed 10% of the total assessed valuation for tax purposes.

2017 Assessed valuation (1) $496,470,874

Debt limit percentage 10%

Legal debt limit $49,647,087

Less:

Long-term debt outstanding (2) ($27,905,333)

Legal debt margin $21,741,754

Sources: (1) Weld and Larimer County Assessors Offices. (2) Town of Windsor Finance Department.

Policy #2: The Town’s debt policy states debt service should be limited to 10-15% of operation expenditures exclusive of capital improvements and debt service expenditures.

Operation expenditures (1) $34,417,502

Debt limit percentage 10% - 15%

Legal debt limit 10% of operation expenditures $3,441,750

Legal debt limit 15% of operation expenditures $5,162,625

Debt service for long-term debt(2) ($2,646,317)

or 7.69%

Legal debt margin $2,516,308

Sources: (1) Current year’s financial statements. General Governmental expenditures less capital and debt, and Proprietary and Internal Service funds operating expenditures less depreciation. (2) Current Year’s financial statements. Governmental and Proprietary debt service on loans.

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105

RATIO OF TOTAL DEBT SERVICE EXPENDITURES

TO NONCAPITAL GOVERNMENTAL EXPENDITURES Last Ten Calendar Years

(Unaudited)

Notes: (1) Includes operating expenses such as personal services, supplies and other services. Excludes capital outlay and depreciation expense.

(2) Began including Developer Reimbursement Agreements that results in the 2009 spike.


Year

Direct Operating

Expense (1) Principal InterestTotal Debt

Service

Percentage of noncapital

expenditures

2009(2)14,814,993 1,998,356 210,808 2,209,164 14.91%

2010 13,030,872 685,465 197,193 882,658 6.77%

2011 14,024,098 1,770,442 170,293 1,940,735 13.84%

2012 15,115,905 1,669,915 83,836 1,753,751 11.60%

2013 14,013,021 280,000 92,475 372,475 2.66%

2014 15,674,426 280,000 86,875 366,875 2.34%

2015 17,026,501 300,000 414,440 714,440 4.20%

2016 19,560,519 835,000 866,575 1,701,575 8.70%

2017 24,426,973 865,000 843,775 1,708,775 7.00%

2018 26,153,996 1,273,000 446,666 1,719,666 6.58%

Debt Service Requirements

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106

RATIO OF OUTSTANDING DEBT BY TYPE Last Ten Calendar Years

(Unaudited)

Note: Includes all long-term debt, including: -Series 2012/2015/2017 Sales and Use Tax Revenue & Refunding Bonds/Loan issued by the Town of Windsor

to finance the construction of a community and recreation center and expansion. -USDA Community Facilities Loan for construction of a new police facility, Windsor Building Authority (WBA). -Developer Reimbursement Agreements. -Colorado Water Resources and Power Development Authority Loan dated August 1, 1994, collateralized by

Sewer Fund revenues, retired in 2008. -Sewer Loan from Colorado Water Resources and Power Development Authority (CWRPDA) for Waste

Water Treatment Facility (WWTP) Upgrade -Bank of Colorado Loan for Kern Reservoir / Windsor Lake. – refinanced 2017 -Colorado Water Conservation Board (CWCB) Loan for Kyger Reservoir. - 2014 -Compensated absences are not reflected in the above chart.

Sources: - Population estimates based on Colorado Department of Local Affairs estimates and Town Planning and Zoning Department building permit data with 2010 census results. - Assessed valuation from Weld and Larimer County Assessors Offices. - Personal Income computed from US Department of Commerce, Bureau of Economic Analysis.

- Details regarding outstanding debt can be found in the notes to the financial section. - Compiled from current and prior years’ financial statements.

Year

Sales & Use Tax Revenue

Refunding Bonds (CRC)

Sales & Use Tax Revenue

Bonds/Loan (CRC Expansion))

USDA Community

Facilities Loan (Police Facility)

Developer Reimbursement

Agreementsand/or Bond

Premium

Sewer Loan Revenue Bonds

Sewer WWTP

CWRPDA Loan

Kern & Kyger Reservoirs

LoansTotal Primary Government

Debt to Assessed Valuation

Percentage of Personal

Income

Debt Per

Capita

2009 4,125,000 - 3,000,000 2,284,100 - - 4,153,903 13,563,003 4.7% 2.2% 748$

2010 3,880,000 - 3,000,000 2,010,887 - - 4,061,780 12,952,667 3.6% 2.0% 695$

2011 3,630,000 - 2,966,854 1,399,301 - 3,110,543 3,964,959 15,071,657 4.1% 2.2% 783$

2012 3,604,944 - 2,932,444 - - 2,932,118 3,863,199 13,332,705 3.9% 1.8% 663$

2013 3,275,319 - 2,896,721 - - 2,753,693 3,756,250 12,681,983 3.7% 1.6% 592$

2014 2,971,316 - 2,859,635 - - 2,575,268 8,188,848 16,595,067 4.8% 1.7% 733$

2015 2,555,000 16,100,000 2,821,134 1,948,494 - 2,390,895 8,070,712 33,886,235 9.7% 3.3% 1,445$

2016 2,255,000 15,565,000 2,781,164 1,708,893 - 2,200,575 7,946,551 32,457,183 7.6% 3.0% 1,331$

2017 1,945,000 15,480,000 2,739,670 55,056 - 2,010,255 7,850,082 30,080,063 6.5% 2.7% 1,188$

2018 1,620,000 14,532,000 2,551,512 38,695 1,819,935 7,381,886 27,944,028 6.1% 2.3% 1,103$

Business-TypeActivities

Governmental Activities

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107

RATIO OF ANNUAL DEBT SERVICE

FOR GENERAL BONDED DEBT

TO TOTAL GENERAL EXPENDITURES Last Ten Calendar Years

(Unaudited)

Note: There is no general obligation debt for 2018. Sources: Current and prior years’ financial statements.

Year Principal Interest Total Debt Service Total General Expenditures

General Bonded Debt Service

as a Percentage of Expenditures

2009 - - - 25,475,534 0.00%

2010 - - - 18,431,518 0.00%

2011 - - - 21,551,404 0.00%

2012 - - - 21,083,471 0.00%

2013 - - - 17,501,521 0.00%

2014 - - - 21,490,246 0.00%

2015 - - - 27,132,713 0.00%

2016 - - - 44,685,309 0.00%

2017 - - - 35,102,592 0.00%

2018 - - - 41,131,697 0.00%

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108

BONDS COVERAGE COMMUNITY RECREATION CENTER FUND REVENUE REFUNDING BOND

2008-2010 AND 2014-2017 GENERAL FUND 2011-2013 (1) COMMUNITY RECREATION CENTER EXPANSION FUND REVENUE BOND / LOAN 2015-2017

Last Ten Calendar Years (Unaudited)

Notes: Includes Sales and Use Tax Revenue Bonds, Series 2002, Dated August 1, 2002. (1) GASB No. 54 implemented in 2011 and the Community Recreation Center merged into the General Fund for years 2011-2013.

(2) Includes charges for services, sales and use tax, grants and contributions and other operating revenues, and interest income. Also includes transfers in.

(3) Includes operating expenses such as personal services, supplies and other services and charges.

(4) Net Revenue Available for Debt Service divided by Total Debt Service Requirements. (5)Revenue bond was refinanced at a lower interest rate. (6)A new Revenue bond was added for the Community Recreation Center Expansion in 2015 and

refinanced in 2017. Sources: Current and prior years’ financial statements.

Year Gross Revenue (2)

Direct Operating

Expense (3)

Net Revenue Available for Debt

Service Principal Interest Total Coverage Ratio (4)

2009 1,006,050 710,191 295,859 250,000 188,855 438,855 0.67

2010 1,160,109 669,233 490,876 245,000 179,480 424,480 1.16

2011 13,248,044 11,248,107 1,999,937 250,000 170,293 420,293 4.76

2012 (5)12,994,255 12,008,409 985,846 290,000 83,836 373,836 2.64

2013 14,321,709 12,384,716 1,936,993 280,000 92,475 372,475 5.20

2014 1,097,128 737,020 360,108 280,000 86,875 366,875 0.98

2015(6)3,475,042 1,289,112 2,185,930 300,000 414,440 714,440 3.06

2016 4,483,242 2,359,733 2,123,509 835,000 866,575 1,701,575 1.25

2017 5,870,557 3,512,173 2,358,384 586,000 843,775 1,429,775 1.65

2018 6,122,351 2,878,476 3,243,875 1,273,000 446,666 1,719,666 1.89

Debt Service Requirements

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109

COMPUTATION OF DIRECT AND OVERLAPPING ACTIVITIES DEBT (1) As of December 31, 2018

(Unaudited)

Jurisdiction Debt Outstanding

Estimated Percentage Applicable to Town (2)

Estimated Amount

Applicable to Town

Direct: Town of Windsor - Direct Debt (3) (A) Sales and Use Tax Revenue & Refunding Bonds / Loan $ 16,190,695

Police Facility USDA Loan 2,551,512

TOTAL Direct Debt $ 18,742,207 100.00% $ 18,742,207

Overlapping:

Poudre R-1 School District (B)

101,798,870 3.84% 3,913,822

Thompson R2-J School District (C)

67,600,000 7.16% 8,724,939

Windsor RE-4 School District (D)

121,825,000 42.83% 52,183,177

Weld County (3) (E) - - -

Larimer County (3) (E) - - -

Windsor-Severance Fire Protection District (F) 1,755,000 52.25% 917,075

TOTAL Overlapping Debt $ 347,203,870 $ 65,739,014

TOTAL Direct and Overlapping Debt $ 84,481,221

Notes: (1) Computation of overlapping debt includes only six major governmental units and excludes several special districts that partially overlap the Town.

(2) Portion of debt applicable to Windsor is determined by the ratio of the assessed value of the portion of the applicable district located within the Town and Counties of Weld and Larimer to the total assessed value of the applicable taxing district.

(3) The Town of Windsor, and Weld and Larimer counties have no general obligation debt. Sources: (A) Current and prior years’ financial statements (B) Poudre R-1 School District Finance Department (C) Thompson R2-J School District Finance Department (D) Weld County RE-4 School District Finance Department (E) Weld and Larimer County Finance Departments (F) Windsor-Severance Fire Rescue Finance Department

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110

BUILDING PERMITS AND VALUE OF CONSTRUCTION Last Ten Calendar Years

(Unaudited)

Source: the Town Planning and Zoning Department provided Permit information.

Year

Number of New Residential Building

PermitsValue of Construction for New

Residential Construction

Number of New Commercial/ Industrial

Permits

Total Value of Construction for New Commercial/ Industrial

Buildings

2009 96 27,509,266 8 17,347,813

2010 134 38,228,286 3 7,680,533

2011 244 66,235,532 2 1,511,034

2012 437 117,686,539 4 13,816,992

2013 365 115,383,579 18 9,160,783

2014 244 80,780,164 7 13,699,715

2015 298 107,057,908 4 14,691,673

2016 711 201,292,982 10 8,081,388

2017 562 184,930,000 10 15,700,000

2018 573 194,110,000 32 46,460,000Draft

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111

DEMOGRAPHIC STATISTICS Last Ten Calendar Years

(Unaudited)

Sources: (1) Population estimates based on Colorado Department of Local Affairs estimates and Town

Planning and Zoning Department building permit data with 2010 census results. (2) US Census Bureau. (3) Colorado Department of Local Affairs (DOLA). (4) Personal income computed from US Dept. of Commerce, Bureau of Econ. Analysis statistics. (5) U.S. Department of Labor, Bureau of Labor Statistics and Colorado LMI Gateway. (6) Online at www.homefacts.com

Year Population (1)

Median

Household

Income (2)

Mean

Household

Size (3)

Personal

Income (in

thousands(4)

Per Capita

Personal

Income (4)

Larimer

County (5)

Weld

County (5)

Colorado

State(5)

Town of

Windsor(6)

2009 18,133 75,276 2.76 618,721 34,121 7.0% 9.1% 8.1% 7.3%

2010 18,644 75,970 2.76 634,603 34,038 7.5% 10.2% 9.0% 7.4%

2011 19,247 78,013 2.76 683,661 35,520 6.5% 9.5% 8.5% 6.5%

2012 20,088 79,948 2.76 747,090 37,191 5.7% 7.9% 7.3% 5.7%

2013 21,406 83,602 2.76 816,017 38,121 4.7% 6.0% 5.9% 4.7%

2014 22,619 82,724 2.76 952,543 42,113 3.1% 3.9% 5.0% 3.1%

2015 23,351 80,512 2.76 1,021,000 43,724 3.3% 3.8% 3.9% 2.9%

2016 24,572 78,359 2.76 1,079,273 43,923 2.8% 3.4% 3.3% 2.3%

2017 25,327 86,410 2.76 1,101,375 42,834 2.4% 2.8% 3.1% 2.5% est

2018 est 26,360 90,699 2.76 1,208,184 45,834 3.2% 3.5% 3.6% 3.2% est

Population Decade Changes (2)

YearTown of Windsor

Percent Change Weld County

Percent Change Colorado

Percent Change

1960 1,509 - 72,344 - 1,753,947 - 1970 1,564 3.6% 89,297 23.4% 2,207,259 25.9%1980 4,277 173.5% 123,438 38.2% 2,889,964 30.9%1990 5,062 18.4% 131,821 6.8% 3,294,394 14.0%2000 9,896 95.5% 180,926 37.3% 4,301,261 30.6%2010 18,644 88.4% 252,825 39.7% 5,029,196 16.9%

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112

TOP 12 PRINCIPAL EMPLOYERS Current Year and Nine Years Prior

(Unaudited)

Note: Change in format of CAFR. Employer data is not available prior to 2008. In future years, as information becomes available, additional years will be presented.

Sources: (1) Windsor Chamber of Commerce and company information (2) Northern Colorado / Upstate Colorado (3) Colorado Department of Labor QCEW (4) These are just outside of the Town of Windsor Limits

2011 2012 2013 2014 2015 2016

# Empl(2) Rank # Empl(2) Rank # Empl(3) Rank # Empl(3) Rank # Empl(3) Rank # Empl(3) Rank # Empl(3) Rank # Empl(3) Rank # Empl(3) Rank # Empl(3) Rank

% of

Top 12 Total

Vestas Blades America 650 1 650 1 716 1 475 2 558 2 558 2 1,354 1 1,354 1 1,872 1 1,120 1 29.66%

Windsor RE-4 School District 640 2 618 2 638 2 600 1 600 1 664 1 647 2 667 2 720 2 750 2 19.86%

Carestream Health, Inc. (4) 600 3 600 3 588 3 430 3 457 3 469 3 469 3 369 3 402 3 445 3 11.78%

Town of Windsor 85 9 89 7 95 9 95 10 101 10 120 9 134 7 209 5 225 4 5.96%

O-I Glass Container 206 5 206 5 205 4 182 5 211 5 190 5 202 5 205 4 215 4 208 5 5.51%

Kodak Alaris (4) 390 4 390 4 200 5 225 4 227 4 225 4 225 4 169 5 144 7 200 6 5.30%

King Soopers 128 7 132 6 142 6 142 6 142 6 147 6 155 6 155 7 4.10%

Tolmar Inc. 150 8 3.97%

Aims Community College 141 8 141 9 3.73%

Windsor Charter Academy 134 9 134 10 3.55%

Trollco Inc 127 10 127 11 3.36%

Healthcare Partners 121 11 121 12 3.20%

Universal Forest Products, Inc. 85 7 80 8 93 10 95 9 94 10 110 8 110 12

Metal Container Corporation 117 6 117 6 108 8 107 8 104 8 104 9 104 10 106 9

Columbine Commons 104 10

Consumer Education Outreach 111 7 111 7

Windsor Healthcare Center 108 8 108 8

SSC Windsor Operating Company LLC 131 6 131 7 127 7

Accentcare Home Healthcare 100 9

TOTAL Principal Employers 2,472 2,620 2,672 3,482 3,365 4,350 3,776 100.00%

2017

Current Year and Nine Years Prior (Unaudited)

2009 2010 2018

Vestas Blades America, 29.66%

Windsor RE‐4 School District,

19.86%Carestream Health, Inc. (4), 11.78%

Town of Windsor, 5.96%

O‐I Glass Container, 5.51%

Kodak Alaris (4), 5.30%

King Soopers, 4.10%

Tolmar Inc., 3.97%

Aims Community College, 3.73%

Windsor Charter Academy, 3.55%

Trollco Inc, 3.36%Healthcare

Partners, 3.20%

Principal Employersas a % of the Top 12

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113

FULL-TIME EQUIVALENT EMPLOYEES BY FUNCTION / PROGRAM Last Ten Calendar Years

(Unaudited)

Notes: General Government Administration consists of Clerk, Town Manager, Finance, Human Resources, Economic Development, Engineering and Information Systems

Community Development consists of the Town's Planning Department Utilities consists of Water, Sewer and Storm Drainage Public Works Streets and Other includes general Public Works, Streets, Fleet and Facilities divisions

(1) Public Works included Facility Services from 2011 to present

(2) Community Recreation Center Expansion in 2016

Source: Town of Windsor budget office and Demographic Section

Function/Program 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

% change in

10 yrs

General Government Administration 22 24 25 25 25 27 33 36 35 41 86%

Community Development 6 5 5 5 5 5 5 6 6 6 0%

Public Safety

Sworn 20 20 20 21 21 22 23 24 28 36 80%

Non-sworn 3 3 3 4 4 4 4 4 4 4 33%

Public Works

Utilities 7 7 7 7 7 9 7 7 7 8 14%

Streets & other (1)8 8 14 14 14 14 15 17 20 21 163%

Parks, Recreation & Culture 18 17 16 16 17 18 17 19 24 22 22%

Community Center (2)5 5 4 4 5 4 7 10 10 12 140%

TOTAL 89 89 94 96 98 103 110 124 134 150 69%

Population 18,133 18,644 19,257 20,104 21,433 22,636 23,454 24,391 25,327 25,360 40%

Population (as a trend) 18,133 18,644 19,257 20,104 21,433 22,636 23,454 24,391 25,327 26,360

Employees per 1,000 Population 4.9 4.8 4.9 4.8 4.6 4.6 4.7 5.1 5.3 5.9 21%Draft

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OPERATING INDICATORS BY FUNCTION / PROGRAM

Last Ten Calendar Years (Unaudited)

(1) Up until 2013, the counties only counted active, registered voters; with the passage of HB1303, they were required to include all registered voters in their count (both inactive and active) which made the number of voters increase.

(2) Average daily water consumption per capita can be attributed to the tiered watering system and water conservation awareness, but as population grows, so does the need for water.

(3) 2014 forward measures average daily unique page views. (4) Due to a change in the way the Police Dept. is tracking arrests, the numbers are no longer sorted in juvenile vs adult

arrests. Numbers shown are total number of criminal citations/arrests for both. (5) Due to a change in reporting for calls for service, the number shown reflects a number less than actual officer

responses. January through April numbers were only from reports written with no self-initiated calls. May through December numbers were significantly higher as all calls for service are included. These statistics were obtained from Weld County Communications, a new tool to help more accurately depict officer activity.

Sources: Various Town of Windsor departments

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018% change in 10 years

General Government

Registered voters(1) 12,310 12,457 12,978 12,482 12,695 15,925 16,272 18,317 17,850 16,163 31%Elected officials 7 7 7 7 7 7 7 7 7 7Full-time employees 89 89 94 96 98 103 110 124 135 150 69%Part-time employees 12 12 40.95 FTE 42.13 FTE 39.85 FTE 39.15 FTE 34.3 FTE 33.6 FTE 22.88 FTE 110Seasonal employees 133 133 see above see above see above see above see above see above 20.08 FTE 72

Public Safety

Adult arrests 234 264 310 329 340 260 330 257 499(4) 543

Juvenile detentions 63 64 46 57 27 28 40 45 --(4) --(4)

Traffic citations 1,749 2,208 2,036 2,471 2,211 2,130 2,177 1,796 1,828 1,916 10%

Calls for service 5,442 7,506 6,123 6,344 5,906 6,106 6,973 6,727 14,078(5) 22,800

Parks, Recreation & Culture, & Community Recreation CenterParticipants served 65,764 76,159 82,935 100,554 106,712 124,007 120,898 118,297 163,588 554,641 743%

Community DevelopmentBuilding permits 104 137 246 441 383 251 302 721 647 605 482%Site plan reviews 10 12 11 7 16 22 26 19 53 28 180%

Utilities (Water, Sewer, and Storm Drainage)

Number of total accounts 6,544 6,856 7,603 7,634 8,433 8,135 7,934 9,298 10,834 10,448 60%New utility accounts 124 194 306 313 441 1,518 1,142 1,089 1,536 1,150 827%

Average daily water consumption (millions of gallons) 1.58 1.72 1.72 2.01 1.73 1.68 1.81 1.97 1.99 2.08 32%

Average daily water consumption

per capita (gallons) (2)87.13 92.25 89.36 104.43 80.72 110.50 119.10 125.77 114.52 103.85 19%

Annual consumption (millions of gallons) 578.2 627.8 627.6 735.3 632.6 611.5 662.3 720.4 727.3 758.1 31%

Other Public WorksPaved road miles 133.2 140.0 143.2 145.0 144.3 147.2 146.1 158.3 158.3 178.1 34%Work orders processed 5,125 4,419 4,631 10,321 7,262 3,216 3,668 4,244 5,004 4,318 -16%

Information SystemsServers on the Network 30 35 29 35 42 44 46 38 40 54 80%New Computers Purchased 30 30 35 20 43 33 55 56 44 46 53%Work Stations on the Network 115 120 132 125 150 167 183 202 211 269 134%Number of Users on Network 125 135 142 136 142 173 210 208 223 232 86%Databases in Use by the Town N/A 35 30 30 33 63 65 67 69 15Annual Hits to Town Web Site 149,823 158,989 165,720 287,222 100,971 246,132 305,282 273,776 343,104 1,260,000 741%

Average Daily Hits to Web Site(3) 410 600 679 486 277 674 836 963 1,189 3,455 743%

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CAPITAL ASSET STATISTICS BY FUNCTION / PROGRAM Last Ten Calendar Years

(Unaudited)

Notes: (1) 2009 to present includes Cemetery (2) 2009 to present includes land adjacent to trails

Sources: Various Town of Windsor departments

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018% change in 10 years

Public SafetyPatrol units 20 20 20 21 21 22 23 24 28 29 45%

Public WorksArea in square miles 24.61 24.61 24.63 24.67 24.75 25.00 25.33 26.00 25.71 25.90 5%

Paved roads (miles) 133.2 140.0 143.2 145.0 144.3 147.2 146.1 158.3 161.2 178.1 34%

Parks, Recreation & CulturePlaygrounds 10 12 12 16 18 18 18 18 18 17 70%

Swimming pools 1 1 1 1 1 1 1 2 2 2 100%

Waterslides 1 1 1 1 1 1 1 2 2 2 100%

Skate parks 1 1 1 1 1 1 1 1 1 1 0%

Community centers 1 1 1 1 1 1 1 1 1 1 0%

Shelters 15 16 16 22 24 25 27 27 29 31 107%

Museums (includes Pioneer Village) 1 1 1 1 1 1 1 1 1 1 0%

Multi-purpose fields 15 15 15 15 15 15 15 15 15 12 -20%

Acres managed 445 445 445 445 445 445 445 647 647 548 23%

Developed parks (acres) (1) 126.1 129.6 133.6 139.2 143.3 143.3 149.4 149.4 149.4 135.4 7%

Undeveloped parks (acres) 179.2 179.2 171.7 166.1 169.5 169.5 164.6 164.6 164.6 105.4 -41%

Open space (acres) (2) 139.7 139.7 139.7 139.7 139.7 139.7 139.7 347.3 347.3 347.3 149%

Trails (miles) 42 42 44 44 55 55 55 55 55 55 31%

UtilitiesWater mains (miles) 117 117 117 117 118.1 126 129 136 131.6 153.95 32%

Storage capacity (millions of gallons) 2.0 2.0 2.0 2.0 2.0 2.0 5.0 5.0 5.0 5.0 150%

Sewer treatment plants 1 1 1 1 1 1 1 1 1 1 0%

Sanitary sewer (miles) 86 94 94 95 94.7 96.6 125.7 136 95.42 121.95 42%

Treatment capacity (millions of gallons) 2.8 2.8 2.8 2.8 2.8 2.8 2.8 2.8 2.8 2.8 0%

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MEMORANDUMDate: June 10, 2019To: Mayor and Town BoardVia: Shane Hale, Town ManagerFrom: Dean Moyer, Director of FinanceRe: 2018 Audit ReportItem #: C.2.

Background / Discussion: Randy Watkins of Anton Collins Mitchell LLP, CPAs, is presenting the 2018 Audit Report at the Town Board meeting onJune 10, 2019. As in previous years, we received an unmodified audit opinion, which is the best opinion possible. I recommend approval of the audit as presented. The resolution to formally accept the report appears on the agenda foryour Regular Town Board meeting on June 10, 2019. Following your approval, the “draft” watermark will be removedfrom the report and the report will be sent to the State and other required agencies. Please contact me with anyquestions.

ATTACHMENTS:

Resolution 2019-44

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TOWN OF WINDSOR

RESOLUTION NO. 2019-44 A RESOLUTION ACCEPTING THE AUDIT REPORT FOR 2018 PREPARED BY ANTON COLLINS MITCHELL LLP, CERTIFIED PUBLIC ACCOUNTANTS. IT IS HEREBY RESOLVED BY THE TOWN BOARD OF THE TOWN OF WINDSOR, COLORADO, AS FOLLOWS;

1. That the audit report of 2018, prepared by Anton Collins Mitchell LLP, Certified Public Accountants, 2016 Clubhouse Drive, Suite 203, Greeley, Colorado, is hereby accepted by the Board of Trustees of the Town of Windsor, Colorado.

2. That said audit report constitutes an audit of the books and financial records of the

Town of Windsor, Colorado, for the calendar year 2018.

3. That the Mayor and the Director of Finance are authorized to distribute such audit report to the Colorado Division of Local Government, as the official audit report of the Town of Windsor, Colorado, and to provide such audit report to such other agencies as are necessary.

Upon motion duly made, seconded, and carried, the foregoing Resolution was adopted this 10th day of June, 2019. TOWN OF WINDSOR, COLORADO By___________________________________ Kristie Melendez, Mayor ATTEST: __________________________________________ Krystal Eucker, Town Clerk

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MEMORANDUMDate: June 10, 2019To: Mayor and Town BoardVia: Shane Hale, Town ManagerFrom: Dean Moyer, Director of FinanceRe: Renewal Requirements for Sales Tax and Business LicensingItem #: C.3.

Background / Discussion: This is the second reading of Ordinance 2019-1588, originally discussed at your regular meeting on May 13, 2019. In our original sales tax code we have all sales tax licenses renewing on January 1, thus causing a heavy in the monthsof November and December of each year. This ordinance changes that to make the licenses renewable 12 monthsafter they originate. This will even the workflow throughout the year. Additionally our existing code requires that mobile food vendors have a separate license for each location that they maypark their truck. This ordinance eliminates that requirement, requiring only one license with our planning departmentapproving the places the trucks request to park.

Recommendation:Approve Ordinance 2019-1588 on second reading

ATTACHMENTS:

Ordinance 2019-1588

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MEMORANDUMDate: June 10, 2019To: Mayor and Town BoardVia: Shane Hale, Town ManagerFrom: Paul Hornbeck, Senior PlannerRe:Item #: C.4.

Background / Discussion: The applicant, Mr. Jon Turner, represented by Mr. Mike Walker, is requesting an extension to a Conditional Use Grant(CUG) approved in 2017 which allowed temporary gravel parking west of and adjacent the Power to Play site at 6004Fairgrounds Avenue. The CUG expired March 27, 2019 and this request is to extend the CUG approval to allow forconstruction of a permanent parking lot. Staff is currently reviewing a site plan submitted by the applicant whichproposes permanent paving of the parking area and establishing pad sites for future commercial development. Thissite plan includes shared, permanent parking between retail users and the existing Power to Play facility. The applicanthopes to commence construction in August. Municipal Code Section 16-7-50 lists the following criteria for review of conditional use grants:

(a) Approval of a conditional use grant shall be based on the evaluation of such factors as the following:(1) The character and quality of the area in which the use will be located.(2) The physical appearance of the use, including suitability of architectural and landscaping treatment.(3) Appropriate location of the building or buildings on the lot.(4) Adequate provision of parking, loading and circulation facilities.(5) Potential effect of the use upon off-site vehicular and pedestrian traffic circulation, with particularreference to potential traffic congestion.(6) Potential effect of the use on storm drainage in the area.(7) Adequacy of planting screens where necessary.(8) Provision of operational controls where necessary to avoid hazardous conditions or eliminatepotential air or water pollutants or other noxious influences.(9) The general compatibility of the proposed use with the area in which it is to be located.

Recommendation:At their June 5, 2019 meeting Planning Commission forwarded to Town Board a recommendation of approval of theConditional Use Grant application as presented, with an expiration of December 31, 2019.

CC:Jon Turner, applicantMike Walker, applicant's representative

ATTACHMENTS:

Application MaterialsStaff PowerPoint

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P u b l i c H e a r i n g a n d R e c o m m e n d a t i o n t o To w n B o a r d C o n d i t i o n a l U s e G r a n t E x t e n s i o n H i g h l a n d M e a d o w s G o l f C o u r s e S u b d i v i s i o n 1 3 t h F i l i n g , L o t 1 ( P o w e r 2 P l a y S p o r t s ) T e m p o r a r y G r a v e l P a r k i n g

Paul Hornbeck, Senior Planner

Town Board June 10, 2019

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Site Vic ini ty Map

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Zoning Map

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Recommendat ion

At their June 5, 2019 meeting Planning Commission forwarded to Town Board a recommendation of approval of the Conditional Use Grant application as presented, with an expiration of December 31, 2019.

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CUG

Staff requests that the following be entered into the record:• Application and supplemental materials• Staff memorandum and supporting documents• Testimony received during the public hearing• Recommendation

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Approval Cr i ter ia Sec. 16-7-50. - Standards and requirements for conditional use grants.SHARE LINK TO VERSIONS(a) Approval of a conditional use grant shall be based on the evaluation of such factors as the following:(1) The character and quality of the area in which the use will be located.(2) The physical appearance of the use, including suitability of architectural and landscaping treatment.(3) Appropriate location of the building or buildings on the lot.(4) Adequate provision of parking, loading and circulation facilities.(5) Potential effect of the use upon off-site vehicular and pedestrian traffic circulation, with particular reference to potential traffic congestion.(6) Potential effect of the use on storm drainage in the area.(7) Adequacy of planting screens where necessary.(8) Provision of operational controls where necessary to avoid hazardous conditions or eliminate potential air or water pollutants or other noxious influences.(9) The general compatibility of the proposed use with the area in which it is to be located.

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https://library.municode.com/

MEMORANDUMDate: June 10, 2019To: Mayor and Town BoardVia: Shane Hale, Town ManagerFrom: Paul Hornbeck, Senior PlannerRe: Conditional Use Grant Extension – Highland Meadows Golf Course Subdivision 13th Filing, Lot 1Item #: C.5.

Background / Discussion: See Public Hearing for discussion.

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MEMORANDUMDate: June 10, 2019To: Mayor and Town BoardVia: Shane Hale, Town ManagerFrom: Chief KlimekRe: 201-2020 SRO IGAItem #: C.6.

Background / Discussion: The annual SRO agreement between the Town of Windsor and Weld RE-4 School District is being changed for the2019-2020 school year. We are adding an additon SRO that will be responsible for the Windsor Middle School and the remaining elementaryschools within the Town of Windsor. The Charter Schools are not part of this agreement. A change to the funding formula has changed. Weld Re-4 will now pay fifty percent (50%) of the employment cost forboth SRO positions.

Financial Impact: There is no additional cost beyond the adopted 2019 budget.

Relationship to Strategic Plan: Promotes safety within the community.

Recommendation:Staff recommends the commitment to this IGA.

ATTACHMENTS:

Resolution No. 2019-45 SRO IGASchool Resource Officer IGA

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TOWN OF WINDSOR

RESOLUTION NO. 2019-45 A RESOLUTION APPROVING AND ADOPTING AN INTERGOVERNMENTAL AGREEMENT BETWEEN WELD RE-4 SCHOOL DISTRICT AND THE TOWN OF WINDSOR FOR THE SCHOOL RESOURCE OFFICER PROGRAM WHEREAS, the Town of Windsor (“Town”) is a Colorado home rule municipality with all powers and authority vested by Colorado law; and WHEREAS, the Town and the Weld County School District RE-4 (“District”) have enjoyed a long history of cooperation and collaboration; and WHEREAS, pursuant to C.R.S. §§ 29-1-203 and 22-32-122 the District and the Town desire to cooperate to establish and develop a School Resource Officer Program (“SRO Program”); and WHEREAS, the Town and the District (“Parties”) acknowledge the benefits such a program can have for the students and the citizens; and WHEREAS, the Parties have intend to share costs for such program in a proportional manner, based upon an annual basis; and WHEREAS, C.R.S. §29-1-203 encourages and permits local governments to cooperate in the provision of any function or service lawfully authorized to each of the cooperating entities; and WHEREAS, the Town Board acknowledges that the creation of a School Resource Officer Program, having an officer dedicated to the District will assist in providing a safe learning environment, improve collaboration with school law enforcement, and improve relations between law enforcement, students and staff. NOW, THEREFORE, be it resolved by the Town Board for the Town of Windsor, Colorado, as follows:

1. The attached Intergovernmental Agreement between Weld RE-4 School District and the Town of Windsor for the School Resource Officer Program, is hereby approved and adopted.

2. The Mayor is hereby authorized to execute the attached Intergovernmental

Agreement on behalf of the Town.

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TOWN OF WINDSOR, COLORADO ATTEST:

_________________________________ By:______________________________ Krystal Eucker, Town Clerk Kristie Melendez, Mayor

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INTERGOVERNMENTAL AGREEMENT BETWEEN WELD RE-4 SCHOOL DISTRICT AND THE TOWN OF WINDSOR FOR

THE SCHOOL RESOURCE OFFICER PROGRAM

THIS INTERGOVERNMENTAL AGREEMENT FOR SCHOOL RESOURCE OFFICER PROGRAM (“Agreement”) is made this ________ day of 2019, between the Town of Windsor, Colorado, a Colorado home rule municipality (“Town”) on behalf of the Town of Windsor Police Department (“Windsor Police Department”) and the Weld County School District RE-4 (“District”) (hereinafter the Town and District are referred to as “Party” in the singular and “Parties” in the plural).

RECITALS

WHEREAS, pursuant to C.R.S. §§ 29-1-203 and 22-32-122, the District and the Town desire to cooperate to establish and develop a School Resource Officer Program; and

WHEREAS, the joint goals of the School Resource Officer Program, (“SRO Program”) are to:

1. Provide a safe learning environment and help reduce school violence; 2. Improve school law enforcement collaboration; and 3. Improve perceptions and relations between students, staff and law enforcement

officials.

WHEREAS, the Parties recognize the outstanding benefits that the SRO Program has for the citizens of the Town and the District, particularly for the students of the District’s schools located within the Town; and

WHEREAS, the Parties intend to share proportionally the costs for any School Resource Officers assigned to the SRO Program; and

WHEREAS, the Town and the District intend this agreement to replace and supersede in all respects all prior agreements between the Parties as it relates to the agreements contained herein between the District and the Town.

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AGREEMENT

NOW, THEREFORE, in consideration of the foregoing recitals, the mutual promises stated

below and other valuable consideration, the Parties agree as follows:

Article I

Term

This Agreement, and performance of the duties called for herein by the SROs shall begin on , 2019 and shall continue in effect through and including , 2020, unless earlier terminated as provided in Article X of this Agreement.

Article II

SRO Program

A. Assignment of School Resource Officers 1. The Town shall initially assign one (1) school resource officer (hereinafter referred to as “SRO” in the singular and “SROs” in the plural) to service the following schools:

Windsor High School Windsor Middle School Grandview Elementary School Mountain View Elementary School Tozer Elementary School Skyview Elementary School

The school assignment can be set by mutual agreement of the SRO and the school principal,

assuring a presence of the SRO between each of the schools. SROs shall be assigned to work with the administration, faculty, and students at the assigned school on the schedule as provided for in this Agreement. 2. The Town shall assign the duties of supervision of the SROs to the SRO Supervisor, who shall oversee the SROs and shall perform scheduled and non-scheduled visits to the schools. The SROs assigned pursuant to this Agreement will report to the SRO Supervisor. When practicable, during scheduled visits, the SRO Supervisor shall meet with the assigned SRO and school administrators and any staff designated by the principal. 3. The Town may, from time to time, reassign its employees and designate one or more replacement SROs at any time. The District reserves the right to request the removal or re-assignment of any SRO for any reasonable cause and upon written notice to Town as specified in Article VII.

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4. If, during the term of this Agreement, any additional schools are annexed into the Town, come into existence, or are closed, then the existing SROs may be reassigned, and/or a new SRO may be appointed and assigned as determined by the SRO Supervisor in consultation with the District. As specified in Article IV, B., the Parties intend to exercise good faith in reaching agreements regarding the re-assignments of SROs and modifications of the funding terms of this Agreement as a result of the happening of one of the conditions specified herein.

5. SROs will not be assigned to Charter Schools in the District under the terms of this Agreement.

6. The SROs shall also respond to and handle non-emergency calls at other schools of the District where there is not an assigned SRO. 7. When practicable, the SRO Supervisor, the SRO and the District’s Superintendent or his/her designee shall meet weekly at a time and location to be determined by the Parties to discuss problems, issues, and concerns about the SRO Program.

B. Regular Duty Hours of the SROs

1. The SROs shall be assigned to their primary schools on a full-time basis of eight (8) hours on those days and during those hours that the schools are in regular session in accordance with the calendar established by the Board of Education of the District, as amended from time to time. The primary purpose of the SRO Program is to provide services during normal school hours. However, the District may request that the SRO be assigned additional hours and/or days beyond the normal working hours. The principal(s) of the assigned school(s) and the SRO Supervisor may agree to adjust the working hours of the SRO; provided, however, that overtime hours are not worked. The Superintendent or his/her designee, in cooperation with the SRO Supervisor, may request assignments of SROs beyond the assigned contracted hours. If the Superintendent requests additional coverage from the SROs, subject to the availability of the SRO, then the Town may seek compensation or reimbursement for the additional cost associated with that coverage, if any. a. The SRO may be temporarily assigned other duties by the Town during school holidays and vacations or during the period of a law enforcement emergency or law enforcement-related training as determined by the Town. The Parties agree that no compensation or refund of any funds provided in Article IV will be owed to the District during such temporary absence or temporary assignment of the SRO except as provided for in Article VII. D.

b. The SRO shall attempt to schedule vacations and floating holidays during periods when school is not in session. Any exception may be granted if approved by the SRO Supervisor after consultation with the principal of any affected school(s). Notwithstanding any provision to the contrary, the Parties agree that no compensation or refund of any funds provided in Article IV will be owed to the District during such approved vacations and floating holidays. The SRO Supervisor will rotate or temporarily reassign an existing remaining SRO associated with the SRO Program or provide a substitute SRO to cover the shortage at any assigned school affected by the SROs absence so that the assigned schools are not completely left without coverage. When a substitute SRO is required, the Town will assign the SRO who has previous experience as the SRO to the extent possible or an officer who is otherwise compatible for school environments.

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Whenever possible, the Town will utilize the same officers for substitute/replacement purposes so that there are not different officers every day. 2. Subject to Article II.B.1, the SRO shall work during the hours school is in session and coordinate his/her schedule with the school principal or his/her designee of the SRO’s assigned school. When schools are closed due to in-service training, the SRO, if invited by the school administrators, may attend the in-service training or use those hours for SRO administrative duties. C. Summer Duty of the SROs

The Parties shall meet during the term of this Agreement to determine the number of SROs that will be assigned to provide services in accordance with this Agreement during the summer school period. Notwithstanding any provision to the contrary, if fewer SROs are provided by the Town during the summer months than what is called for in Article II of this Agreement, then the Town shall not be required to refund any funds paid by the District.

D. Duties of the SRO 1. The SRO shall wear Town-approved uniforms and drive a marked patrol unit in performance of the duties required by this Agreement. In the event the SRO is authorized to wear civilian clothes for a specific event, the SRO shall comply with the Windsor Police Department dress code.

2. Subject to the SRO’s discretion and law enforcement authority, the SRO shall take appropriate law enforcement action as requested by school administrators. The SRO may also take such other appropriate law enforcement actions as may be required by law or the Windsor Police Department policy and must then notify the school administrator as soon as practicable of any violations or actions which impact school discipline, order or safety, or such other violations and actions as the District reasonably requests be reported. This may include interviewing suspects and victims of criminal violations, issuing summonses, and addressing traffic concerns. Should it become necessary to conduct formal law enforcement interviews with the students, the SRO shall adhere to District policy, regulations and guidelines, Windsor Police Department policy, and legal requirements with regard to such interviews.

3. The SRO shall assist other SROs, if applicable, or law enforcement agencies in conducting investigations when requested or required.

4. The SRO shall develop teaching expertise and assist faculty in conducting specialized classes on such topics as the role of policing in the community, search and seizure, traffic laws, crime prevention, victims’ rights, community involvement, and youth programs. In addition, the SRO shall encourage and participate in discussion during classes to establish rapport with students. Any additional areas of instruction or SRO participation in school activities must be mutually agreed upon by Windsor Police Department, the SRO Supervisor, and the principal or his/her designee of the affected school.

5. The SRO shall seek permission, advice, and guidance from school administrators prior to implementing any program within the SRO’s assigned school.

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6. The SRO shall assist school administrators, staff, and faculty in developing emergency procedures and emergency management plans to include prevention and/or minimization of dangerous situations which may result from student unrest.

7. The SRO shall be familiar with and abide by all relevant District policies, regulations and guidelines related to safety, student conduct and discipline, including the District’s Code of Conduct except to the extent such policies, regulations, code and guidelines conflict with his/her responsibilities as a law enforcement officer.

8. The SRO shall assist administrators, faculty and staff with the investigation of any suspected violations of law occurring on District premises. It shall be understood and agreed that the SRO, as a law enforcement officer, can only detain or take into physical custody those students for whom there is reasonable suspicion or probable cause that such students have committed a criminal offense. The SRO shall not be assigned to lunchroom duties, hall monitoring or other campus monitoring duties, unless there is a specific problem, in which case, the SRO may assist the school with those duties until the problem is remedied.

9. The SRO shall seek to establish working relationships with student organizations, faculty, staff members, District administrators and community members. In addition, the SRO may attend parent, faculty, student, administration or other meetings to provide information regarding the SRO Program and provide opportunities for involvement and support.

10. The SRO shall coordinate enforcement efforts with campus supervisory personnel, including but not limited to campus supervisors, campus security officers, hall monitors, parking attendants and private security firm personnel.

11. The SRO shall maintain detailed, accurate and up to date records as required by the Windsor Police Department, school administrators and central administrators of the District, and submit reports as requested.

12. The SRO shall work proactively with all law enforcement agencies that serve the District’s community.

13. The SRO shall work proactively with students, parents and faculty regarding public safety and use problem solving teams and programs to address outstanding problems.

14. The SRO shall provide information and referrals regarding community programs to school administrators, staff, students, and parents so that appropriate assistance can be assessed. These programs may include but are not limited to mental health clinics, peer support, and drug treatment centers. The SRO may make referrals to community agencies and programs when necessary. The SRO shall refer students to the school or district counselor as needed. Referral guidelines shall be determined by the school administrator.

15. The SRO may attend, whenever possible, selected school functions as recommended by school administrators.

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16. The SRO shall maintain the confidentiality of any information obtained pursuant to Title 19 of the Colorado Children’s Code, and shall not disclose the information except as provided by law or court order.

17. The SRO shall maintain the confidentiality of District records and personally identifiable information in accordance with Parts 2 and 3, Article 72 of Title 24, Colorado Revised Statutes, the Family Educational Rights and Privacy Act of 1974 and its regulations, and District policies.

18. The SRO shall coordinate with and inform the District’s Superintendent or his/her designee, of investigations and cases which have a significant impact on a school or the District, or other such matters as are designated by them or as required by law.

19. The SRO shall perform other duties which will promote the goals of the SRO Program and which are mutually agreed upon by the District and the Town. E. Training 1. Basic SRO training shall be provided to all new SROs prior to beginning assignment as the SRO, or as soon as reasonably possible. Basic SRO training may be obtained through the Colorado Association of SROs, the National Association of SROs or any other organization which provides similar training. The Town shall be responsible for the payment of all expenses associated with the SRO training. F. Records.

All records of police reports and citations associated with the SRO duties will be maintained by the Windsor Police Department and will comply with the school reporting requirements set forth in § 22-32-146, C.R.S.

ARTICLE III

Facilities and Equipment

A. Facilities and Equipment

The District shall provide to each full-time SRO the following equipment and facilities, which are deemed necessary to the performance of the SRO’s duties under this Agreement:

1. The District’s Superintendent or his/her designee in consultation with the principal at each assigned school shall designate an office space at each assigned school for the exclusive use by the SRO. The designated office space shall be available to the assigned SROs at all times when the school is open for educational or extracurricular activities. In addition, the District shall make reasonable effort to accommodate the SROs’ needs to use such designated space at other hours when the school building may not otherwise be open in furtherance of the duties required of the SRO under this Agreement. Except in emergency circumstances, the District shall provide SRO

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at least seventy-two (72) hour notification if the portion of the building allocated herein to SRO becomes temporarily unavailable.

2. For purposes of this Agreement, SRO is deemed a “school official” with whom the District may share any records that are deemed necessary by the District for use by the SRO in connection with the SRO Program. Confidentiality of the records shall be maintained by the SRO pursuant to state law, District and Windsor Police Department policies. 3. The District shall provide for the use of each SRO a desk and any necessary office furniture, a computer and access to a printer. These items shall be paid for and maintained by the District. B. Maintenance of Facilities and Equipment

All Town or District equipment and facilities, including vehicles, utilized by the SROs or SRO Supervisors in connection with the SRO Program shall be maintained by and at the expense of the respective owners of such equipment.

C. Effect of Termination

In the event this Agreement is terminated, any Town or District facilities or equipment utilized in connection with the SRO Program shall be returned to or retained by the respective owners.

ARTICLE IV

Financing the SRO Program

A. Payment and Payment Estimates

In consideration of the Town providing SROs for the SRO Program, the District shall fund fifty percent (50%) of the employment costs for each SRO assigned to the SRO Program annually. The District shall pay to the Town on a quarterly basis the amount that is equal to fifty percent (50%) of the previous quarter’s employment costs incurred by the Town for each SRO assigned to the SRO Program. Payments shall be made by January 1, April 1, July 1, and October 1 during the term of this Agreement. The Town shall provide the District written notice as to the quarterly amount due thirty (30) days before the payment deadline. By no later than February 1 of each year this Agreement is in effect, the Town shall make reasonable efforts to estimate its costs associated with the SRO Program for which the District will have to pay its proportionate share and will notify District of such amount for the District’s budgetary considerations. B. Modification of Funding

In the event circumstances and requirements of either Party changes, the District and the Town

shall work in good faith, pursuant to Article XI to reach an agreement about future assignments, funding and the number of SROs assigned to the SRO Program. Pursuant to Article VIII, any adjustments shall be taken into consideration in determining the Parties’ fiscal obligations. The District’s proportionate share of funding shall remain as indicated in Subsection A.1. of this Article.

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ARTICLE V

Employment Status of SRO

A. SRO Employment Status

It is expressly understood that, at all times during the term of this Agreement, the SROs and SRO Supervisor are employees of the Town. The District and Town acknowledge that the SRO is a law enforcement officer under the direct supervision of the Windsor Police Department. The SRO shall remain responsive to the chain of command of the Windsor Police Department. SROs shall not represent that they are employees or agents of the District in any capacity. B. Compliance with Employment Laws

The Town will be responsible for providing SROs with payment of wages, health care benefits,

and workers’ compensation insurance (including occupational disease). The Town will comply with all withholding taxes, social security, unemployment, workers’ compensation, and/or other federal, state and local employment taxes and other requirements of federal, state or local laws, regulations, rules, and ordinances. To the extent permitted by law, the Town shall indemnify and hold the District harmless from and against any and all claims for same.

C. Supplies and Equipment Provided by Town

The Town shall provide the SROs with all supplies and equipment as are normally issued by

the Town to law enforcement officers to be used by the SROs in performance of the duties required under this Agreement.

D. Disciplinary Action

The Town, at its sole discretion, will be responsible for taking any necessary or appropriate disciplinary action against any SRO or SRO Supervisor. In exercising these responsibilities, the Town shall consult with the District. The District will provide input and feedback to the SRO and the SRO’s Supervisor and shall participate in reviews, evaluations and planning for particular SRO positions. The District shall regularly advise the Town of the SRO’s work performance and shall immediately report to the Town any instances of alleged misconduct or discrimination. The District shall make its employees available as witnesses in any Town-conducted disciplinary or termination proceeding or workplace investigation.

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ARTICLE VI

Appointment of the SROs

A. SRO Personnel Board Review

The SRO Personnel Board shall recruit, interview, and evaluate SRO applicants and shall forward to the Chief of Police or his/her designee a list of applicants who meet the requirements below and who have received a favorable recommendation by the SRO Personnel Board based on all the requirements and criteria listed below. Such recommendations shall be made only upon a majority vote of the SRO Personnel Board. The SRO Personnel Board shall consist of at least two representatives from the District, at least two members from the Windsor Police Department, and at least one student enrolled in a school of the District. B. Applicant Requirements

SRO applicants must satisfy all of the following requirements: 1. The applicant must voluntarily seek the SRO position and must indicate a

willingness to hold the position for three (3) years. 2. The applicant must be a full-time peace officer, as defined by C.R.S. §16-2.5-101,

with a minimum of three (3) years of law enforcement experience. 3. The applicant must be employed as a police officer with the Windsor Police

Department prior to assignment as SRO. 4. The applicant must indicate a willingness that if appointed to the SRO position,

he/she will not accept a transfer or promotion from the position until the end of a semester and that he/she will not schedule time off for vacations and floating holidays during periods when school is in session except as provided for in Article II.B.1.(b).

C. Other Considerations

The SRO Personnel Board shall also consider job knowledge, experience, training, education, attitude, communication skills, prior service as an SRO, prior training, education or experience with youth. D. Application Review

The SRO Personnel Board shall forward a list of recommended applicants to the Chief of Police or designee, who shall appoint officers as SROs at his/her sole discretion from the recommended list of applicants in consultation with the District’s Superintendent or designee.

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ARTICLE VII

Dismissal, Reassignment, Retirement or Resignation of SROs; Replacement

A. Removal of SRO

In the event the school administrator to which the SRO is assigned believes that the SRO is not effectively performing his/her duties and responsibilities, the administrator shall first speak with the SRO to clearly outline the responsibilities and expectations. Should the school administrator continue to be dissatisfied with the performance of the SRO, the school administrator may recommend in writing to the District’s Superintendent or designee, that the SRO be removed from the SRO Program. The Superintendent or designee shall review the reasons provided by the school administrator for the recommendation of removal of the SRO, and then he/she shall advise the Chief of Police or designee within ten (10) business days. The Chief of Police or designee may elect to meet with the Superintendent or designee and the SRO to mediate or resolve any issues that may exist. At such meeting, specified school staff members may be requested to be present. If the issues cannot be resolved within a reasonable period of time after the mediation, or if mediation is not sought by the Chief of Police or his designee, then the SRO shall be dismissed from the SRO Program. B. Reassignment

The Chief of Police or designee may dismiss or reassign the SRO or SRO Supervisor from the SRO Program at any time based upon Town or department rules, regulations, policies or directives, or when it is in the best interests of the Town as determined by the Chief of Police. Any vacancy in the SRO Program created by such dismissal or reassignment shall be filled in the manner described in Subsection D of this Article.

C. SRO Transfers, Promotions

The SRO or SRO Supervisor may be transferred or promoted from his/her SRO position during the school year at the discretion of the Chief of Police or designee with adjustment to the Parties’ financial obligations set forth in Article IV. SROs requesting a transfer to another position must do so at the end of the school year or semester, unless alternative timing of a particular request is agreed upon by the Town and the District. The SRO must make such request in writing. Transfer request decisions shall be made at the discretion of the Chief of Police or designee. Any vacancy created by such transfer or promotion shall be filled in the manner described in Subsection D of this Article.

D. Effect of SRO Vacancy In the event of resignation, dismissal, promotion, retirement, rotation or transfer of the SRO, or in the case of long-term absences due to injury, illness, disability or other cause of more than thirty (30) calendar days, the Town shall provide a replacement for the SRO within thirty (30) calendar days of receiving notice of such absence, dismissal, resignation, promotion, retirement, rotation or

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transfer. When a replacement SRO is required, the Town will assign SROs who have previous experience as an SRO to the extent possible or an officer who is otherwise compatible for school environments. If such replacement cannot be provided within the thirty (30) day timeframe due to personnel and staffing constraints of the Windsor Police Department, the Chief of Police or designee may, with adjustment to the Parties’ financial obligations per Article V, temporarily reallocate the school assignments of any existing SRO to ensure that, , the high school is assigned an SRO and the SRO Program is assigned a SRO Supervisor. Any reallocation of assignments shall be done in consultation with the District. As soon as practicable, the SRO Personnel Board shall recommend a permanent replacement for the vacated SRO position. Should the vacancy or temporary assignment continue for longer than thirty (30) calendar days, the Parties agree to negotiate, pursuant to Article VIII, an adjustment of the District’s financial contribution for the previous quarter. The Parties intend to return the SRO Program to full staffing as soon as practicable. The Parties’ financial obligations pursuant to Article IV shall be adjusted for all days there is a vacancy in the SRO position.

ARTICLE VIII

Evaluation

Effectiveness of the SRO Program shall be evaluated annually by the Parties to determine if any modifications to the SRO Program are necessary or advisable. The evaluation shall include, where appropriate, compliance with the terms and conditions of this Agreement, identification of issues or problems and recommendations for improvement, and assessment of quality of services provided. This evaluation is critical to continue a successful program and the Parties agree to invest sufficient time and effort in the evaluation process. The Parties shall also evaluate the financial obligations of each Party and make adjustments as necessary to continue the SRO Program.

ARTICLE IX

Appropriations

All obligations of the Parties under this contract are solely from currently budgeted funds and this Agreement does not constitute a multiple fiscal year obligation of the Parties. The obligations of each party under this Agreement payable after its respective current fiscal year are contingent upon adequate funds for that purpose being budgeted, appropriated and otherwise made available. All financial obligations of the Parties, including but not limited to the funding obligations of Article IV, are subject to budgeting and the annual appropriation of such funds by the governing body of each party each fiscal year. The Parties shall follow respective internal policies and procedures relative to the renewal of this Agreement.

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ARTICLE X

Termination of Agreement

A. Termination for Material Breach

Subject to Article XI, this Agreement may be terminated by any Party upon material breach by the other Party of any term or condition of this Agreement if such breach continues for a substantial and unreasonable period of time, but in any event, if the breach is continued for a period of ninety (90) days after receipt by the breaching party from the non-breaching party of written notice of the existence of such breach. Once either Party has received written notice of breach, the Parties will first abide by the terms of Article XI. Termination of this Agreement shall not, however, be the sole remedy of any Party and any exercise of this right to terminate shall not preclude the pursuit of any other remedy available in law or in equity to the non-breaching parties. B. Termination for Nonappropriation

If either Party fails at any time to appropriate the funds necessary to comply with the

requirements under Article IV of this Agreement, or if the District fails to timely pay the funds required under Article IV to the Town, the Town may terminate this Agreement upon giving the District thirty (30) days written notice. Upon such termination, the District shall pay for all SRO services provided by the Town under Article IV, Subsection B prior to the date of termination. The Parties shall thereafter have no further obligations under this Agreement.

C. Force Majeure.

Notwithstanding anything to the contrary, in the event of, and to the extent that fire, flood, earthquake, natural catastrophe, explosion, accident, war, illegality, act of God, or any other cause beyond the control of either Party, or labor strikes prevents or delays performance by either Party to this Agreement and any addendum, such Party shall be relieved of the consequences thereof without liability, so long as and to the extent that performance is prevented by such cause.

ARTICLE XI

Good Faith

The Parties, their agents and employees agree to cooperate in good faith in fulfilling the terms of this Agreement. The Parties agree that they will attempt to resolve any disputes concerning the interpretation of this Agreement and unforeseen questions and difficulties which may arise in implementing the Agreement by good faith negotiations before resorting to termination of this Agreement and/or litigation.

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ARTICLE XII

Indemnification

To the extent permitted by applicable law, Town shall indemnify and hold District, including but not limited to its employees, agents, board members, officers, and representatives, harmless from and against all claims, liabilities, damages, losses, and expenses, including attorneys' fees, arising out of this Agreement or resulting from the performance of the duties by SROs or SRO Supervisor as required hereunder, to the extent that such claims, liabilities, damages, losses and expenses are proximately caused in whole or in part by any negligent or intentional act or omission or breach of contract of the SROs, SRO Supervisor, or another employee or agent of Town. This indemnification duty shall survive termination of this Agreement.

ARTICLE XIII

Notices

Any and all notices or any other communication required or permitted shall be deemed to have

been given when personally delivered or deposited in the United States postal service as regular mail, postage prepaid, and addressed as follows or to such other person or address as a Party may designate in writing to the other Party:

To the District:

Superintendent of Schools Weld RE-4 1020 Main St. Windsor, CO 80550

President Weld RE-4 Board of Education 1020 Main St. Windsor, CO 80550

To the Town: Chief of Police Town of Windsor Police Department 200 N. 11th St. Windsor, CO 80550

Town Manager Town of Windsor 301 Walnut St. Windsor, CO 80550

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ARTICLE XIV

Modification

This document constitutes the full understanding of the Parties, and no term, condition, understanding or agreement purporting to modify or vary the terms of this Agreement shall be binding unless in writing signed by both Parties.

ARTICLE XV

Non-Assignment; No Third Party Beneficiary

This Agreement, and each and every covenant within, shall not be capable of assignment except with the prior written consent of both Parties. This Agreement is not intended and shall not create any duty to any student, teacher, District employee, parent or any other person, firm or entity with regard to the provision of any law enforcement services, security, level of safety, or activities undertaken by the SROs or conditions resulting therefrom. No student, teacher, District employee, parent or other person, firm or entity shall be granted or have any private right of action, claim or civil liability remedy against the Town or the District, or their respective officers, employees or agents, by virtue of this Agreement. Nothing in this Agreement shall be construed to create any liability, or to waive any of the immunities, limitations on liability or other provisions of the Governmental Immunity Act, §24-10-101 et seq., C.R.S., or to waive any immunities or limitations on liability otherwise available to the Town, the District, or their officers, employees or agents.

ARTICLE XVI

Merger

This Agreement constitutes a final written expression of all the terms of this Agreement

and is a complete and exclusive statement of those terms.

ARTICLE XVII

Counterparts

This Agreement may be signed in counterparts, and each counterpart shall be deemed an original, and all the counterparts taken as a whole shall constitute one and the same instrument.

ARTICLE XVIII

Supersedes Previous Agreement

This Agreement replaces and supersedes all prior SRO Agreements between the District and the Town.

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ARTICLE XIX

Severability; Headings

In the event this Agreement or any material provision hereof shall be declared to be invalid, unenforceable, or in violation of any applicable federal, state or local laws or regulations, the Parties will immediately begin negotiations to modify or amend this Agreement in order that this Agreement shall, as amended, express and contain the understanding and intentions of the Parties. The subject heading of the paragraphs of this Agreement are included for purposes of convenience only, and shall not affect the construction or interpretation of its provisions. WHEREFORE, the parties set their hands and seals to the within Agreement upon the date first-stated above. WELD COUNTY SCHOOL DISTRICT RE-4 ATTEST: BOARD OF EDUCATION By: ___________________________ __________________________ President Secretary [Seal] TOWN OF WINDSOR, COLORADO ATTEST: _______________________________ ____________________________ Kristie Melendez, Mayor Krystal Eucker, Town Clerk

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MEMORANDUMDate: June 10, 2019To: Mayor and Town BoardVia: Shane Hale, Town ManagerFrom:Re:Item #: C.7.

ATTACHMENTS:

Finance Report - April 2019

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M O N T H L Y F I N A N C E R E P O R T V o l u m e 8 , I s s u e 4

A p r i l 2 0 1 9

O V E R V I E W

I N S I D E T H I S I S S U E

S A L E S , U S E A N D P R O P E R T Y T A X

Y E A R - T O - D A T E S A L E S T A X

A L L F U N D E X P E N D I T U R E S

G E N E R A L F U N D E X P E N D I T U R E S

2

4

5

6

7

windsorgov.com/finance | 970-674-2400 |

W E L C O M E A B O A R D N E W O F F I C E R S !

The base 3.2% collections and

the .75% expansion collections

both surpassed the monthly

budget requirement for April

by 9%.

Construction Use Tax

collections are 63% ahead of

budget through April.

License issuances during the

month totaled 59— 41 Retail

and 18 Non-Retail. In

addition, there were 10

closures.

Easter EGGstravaganza

at the CRC

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Volume 8, Issue 4 | April 2019 Page 2

The Town has collected in

excess of $2.2M in

Construction Use Tax through

April. Collections continue to

outpace budgeted revenues

and exceed 2018 collections

through April.

All three major taxes continue to exceed expectations. Through April, combined taxes are outpacing

the budget by 18% or $1.33M.

B U I L D I N G P E R M I T S A N D C O N S T R U C T I O N

S A L E S , U S E A N D P R O P E R T Y T A X U P D A T E

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windsorgov.com/finance | 970-674-2400 | Page 3

A P R I L 2 0 1 9

M O N T H H I G H L I G H T S

Quarterly sales tax filings pushed April collections above April 2018 and above the monthly

requirement.

Construction Use Tax continues to outpace anticipated collections.

Net surplus of $12.1M after all revenues and expenses are accounted for through April.

Combined effect of major revenue sources exceeding budget, salary savings, street repairs

and many capital projects not yet fully underway.

459 or 16.5% more active Sales Tax Licenses than in April, 2018.

3 .2% COLLECTIONS

The town budgeted $11.7M for this portion of sales tax for 2019 making our average monthly

collection requirement $972,727. Monthly collections through April average $1,066,818.

.75% COLLECTIONS

Our monthly budget requirement is $231,116. We collected 8.7% more than budgeted during the

month.

3.95% TOTAL

We budgeted $14.4M in 2019 for the combined 3.95% sales tax rate. We are currently exceeding the

budget through April by $456,329 or 9.5%.

Sales tax collections rebounded in

April. Total collections surpassed the

April budget by $103,689 or 8.6%.

Year to date collections are 9.5%

ahead of budget.

The monthly 3.2% collection

benchmark is $972,727. Collections

for April came in at $1,056,309.

CRC Expansion sales tax collection for

the month was $251,223. The

benchmark projection is $231,116.

LOOKING FORWARD

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Y E A R - T O - D A T E S A L E S T A X C O L L E C T I O N S

Collections through

April are exceeding

budget by $456,329

and above 2018

collections by

$484,532. Inclusive

of $14,328 in

reimbursements.

YEAR OVER YEAR SALES TAX COMPARISON BY GEO CODE

TOP 5 $ INCREASE IN COLLECTIONS FROM APRIL, 2018;

1. No Location—$421,367

2. W/S CPA—$53,899

3. The Highlands—$38,077

4. King Soopers—$36,952

5. Brunner Farms—$31,656

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A P R I L 2 0 1 9

SALES TAX REVENUE BY INDUSTRY

This graph details industry sector

sales tax collections. Groceries

and convenience stores continue

to represent our largest sector.

SOURCES OF REVENUE & CATEGORIES OF EXPENSE

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A L L F U N D S E X P E N D I T U R E S

Both capital and operating expenses are below the 33.3% expense benchmark for April- displaying a combined

17.61% expense to total budget ratio. This correlates to a current combined budget surplus through April of

$12,477,153.

A L L F U N D S E X P E N S E C H A R T

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A P R I L 2 0 1 9

Y E A R T O D A T E D E P A R T M E N T O P E R A T I O N S A N D T R A N S F E R S

The chart on the left shows

monthly revenue compared to

monthly expenditure as well as a

trend line showing the total 2019

budget expended equally over 12

months.

Our monthly budgeted total

expenditures equal $6,586,633.

In April we’re showing a year-to-

date net surplus of $12.1M.

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A D D I T I O N A L I N F O R M A T I O N C A N B E F O U N D A T

windsorgov.com/finance | 970-674-2400

MAJOR CAPITAL PROJECTS STATUS

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MEMORANDUMDate: June 10, 2019To: Mayor and Town BoardVia: Shane Hale, Town ManagerFrom: Rick Klimek, Chief of PoliceRe: Windsor Police Department April 2019 Statistical ReportItem #: 2.a.

ATTACHMENTS:

Windsor PD April 2019 Statistics

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April 2019 2019 YTD 2018 YTD

Group A Crime Reports

Homicide 0 0 0

Sexual Assault 1 12 10

Aggravated Assault 1 7 5

Burglary 1 6 11

Theft 20 60 56

Robbery 0 1 1

Motor Vehicle Theft 1 9 2

Arson 0 0 0

Group B Crime Reports

Simple Assault 4 28 31

Controlled Substance 16 33 44

Domestic Violence 8 37 17

Fraud/Forgery 8 48 40

Vehicle Trespass 4 12 33

Quality of Life

Municipal Code Violations 48 326 296

Animal Related Violations 122 355 318

Municipal Code Warnings 43 251 393

Mental Health Related 7 22 24

Other

Total Activities (CFS and SI) 1846 7376 6884

Total Arrests (including Criminal Citations) 47 179 172

Total Traffic Accidents 41 200 176

Total Traffic Stops 610 2458 1993

Total DUI 6 18 14

Citations/Warnings

Total Traffic Citations 178 680 643

Total Traffic Warnings 16 61 114

Criminal 21 97 81

County Traffic 58 237 239

Muni. Traffic 121 444 404

Muni. Ordinance 31 140 169

Parking 42 165 308

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MEMORANDUMDate: June 10, 2019To: Mayor and Town BoardVia: Shane Hale, Town ManagerFrom: Carlin Malone, Chief PlannerRe: Highland Meadows Golf Course Subdivision 16th Filing L3&4 - Commercial Center - Site Plan SummaryItem #: 2.b.

ATTACHMENTS:

Memo with attachments

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MEMORANDUM Date: June 10, 2019 To: Mayor and Town Board Via: Shane Hale, Town Manager From: Carl in Malone, Chief Planner Re: Site Plan Summary – Highland Meadows Golf Course Subdivision

16 t h Fi l ing, Lots 3 & 4 – Highland Meadows Golf Course Commercial Center

Item: D.2.b Comments ( if any) by: June 12, 2019

Site Plan Summary

Applicant: Hillside Commercial Group

Applicant’s Representative: Mike Walker, The Birdsall Group

Subdivision / Lot-Block: Highland Meadows Golf Course Subdivision 16th Filing, Lots 3 & 4

Zoning: General Commercial (GC)

Adjacent Zoning: RMU, I-L

Subarea Plans/Special Planning Area: Commercial Corridor Plan/ I-25 Corridor Plan

Overall development characteristics:

lot area = 3.6 acres / 155,048 square feet 5 pad sites amounting to 30,300 square feet (sf) of building potential (~14% building coverage;

37.6% lot coverage) o 24,800 sf retail pad sites o 5,500 sf restaurant o pad sites (building envelope with limited land area surrounding building foundation) will

provide plans consistent with overall site plan. o 55 feet maximum building height in GC zone district

135 parking spaces required – 289 parking spaces provided: o 99 required for commercial retail (1 per 250 SF) and 36 required for restaurant (1 per 200 sf

plus 1 for every 2 employees). o 154 extra parking spaces will be shared with Power 2 Play.

Power 2 Play: 178 existing spaces + 154 shared spaces = 332 spaces available Note on subject site plan: If it has been determined more parking is needed, a

conditional use grant will be submitted to request a gravel parking area on Lot 2 to accommodate additional parking.

~ 62% landscaped area (20% required) access from Fairgrounds Avenue and Crooked Stick Drive (right-in / right-out)

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continuation of sidewalk/trail system and tree-lined streets

Comment Period The site plan will be reviewed and approved administratively by staff. However, if there are any comments please forward them to the Director of Planning by either email or at a regular meeting under the communications section of the agenda.

Staff will consolidate any comments received and provide them in a memo to the Planning Commission and Town Board in a following meeting packet so that all members can review the comments received for the site plan project.

Attachments Project narrative Site plan Landscape plan

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September 19, 2018

Highland Meadows Golf Course Subdivision,

13th Filing, Lots 1 & 2 - Site Plan

This request is to submit a Qualified Commercial Site Plan in order to construct a local retail development project. Lots 1 and 2 were platted with the Highland Meadows Golf Course Subdivision Thirteenth Filing. The 3.6 -acre site is located at the southwest corner of Crooked Stick Drive and Fairgrounds Ave in the Highland Meadows Subdivision and is Zoned GC, General Commercial.

The project will contain five pad sites. Sites one and four will be for retail / commercial uses with an approximate total of 19,800 SF. Pad sites two and five are proposeddrive-thru uses with a total of 5,500 SF. Pad site three is proposed to be used as agym, with approximately 5,000 SF.

A total of 289 off-street parking spaces will be provided. According to the proposed usesit has been calculated that 135 spaces are required per the Windsor Land Use Codes.The additional parking spaces will be shared with Power 2 Play.

Building materials shall match or harmonize with existing commercial buildings. Accents include stucco or wood trim bands over windows, cast stone window sills and water tables.

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PROPOSED TRASH ENCLOSURE LOCATIONS

HANDICAP PARKING

PROPOSED LIGHTINGSCALE 1" = 40'-0"

40'0 80'60' NORTH

Site Plan

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HIGHLANDMEADOWS GOLF

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10

4

4 7

8

11

12

14

15 15

13

5

11 11 11 11

9 9

8

9

14

15 15

13

8

(Proposed Rt.-In / Rt.-Out)

PROJECT TITLE

REVISIONS

ISSUE DATE

SHEET TITLE

SHEET INFORMATION

DATE

SEAL

DATE

PREPARED FOR

September 19, 2018

39Of:

Sheet Number:

HIGHLANDMEADOWS GOLFCOURSE SUBDIVISION16TH FILINGLOTS 3 & 4

Site Plan

COLORADO 80HOLDINGS LLC

8020 S. County Road 5Suite 200Windsor, CO 80528970.204.9393

Windsor, Colorado

City Comments 02.15.19City Comments 04.23.19

2

LS1 - Site Plan

Parking Analysis - Lot 3

RETAIL = 19,800 SF1 PARKING SPACE PER 250 SF

REQUIRED: 79 SPACES

RESTAURANT = 5,500 SF1 PARKING SPACES PER 200 SF PLUS 1 FOR EVERY TWO EMPLOYEES

REQUIRED: 36 SPACES

TOTAL REQUIRED - 115 SPACES

TOTAL PROVIDED - 184 SPACES

AVAILABLE TO SHARE 69 SPACES

BIKE SPACES PROVIDED - 0 SPACES

LAND USE S.F. % TOTAL

BUILDINGS 30,300 14.0%

PARKING / DRIVES 30,693 14.2%

PUBLIC STREETS N/A N/A

SIDEWALKS/PATHWAYS 19,745 9.1%

OPEN SPACE / LANDSCAPE 135,377 62.4%

216,115 SF 100%

HIGHLAND MEADOWS GOLF COURSESUBDIVISION 16TH FILING, LOTS 3 & 4

Land-Use StatisticsEXISTING ZONING: GC - GENERAL COMMERCIAL

GROSS LAND AREA: 155,048 SF 3.6 AC

NUMBER OF BUILDINGS: 5

LAND USE: RETAIL / DRIVE-THRU / COMMERCIAL

TOTAL BUILDING GROSS S.F.: 30,300 SF

MAXIMUM BUILDING HEIGHT: N/A

MAXIMUM BUILDING STORIES: N/A

5

13

9

9.0'20.0'

6.5' CONCRETE WALK

10' CONCRETE WALK

PROPOSED TRASHENCLOSURE



40' EAE & UE

40' DRAINAGE/WATEREASEMENT

15' EAE & UE

15' EAE & UE

10' IRRIGATION & UE

20' TRAIL EASEMENT

14' DRAINAGE & UE

LOT 2, HIGHLAND MEADOWSGOLF COURSE SUBDIVISION

16TH FILING

EXISTING 29' ACCESS, EAE & UE

Parking Analysis - Lot 4

COMMERCIAL RETAIL = 5,000 SF1 PARKING SPACE PER 250 SF

REQUIRED: 20 SPACES

TOTAL PROVIDED - 105 SPACES

AVAILABLE TO SHARE 85 SPACES

BIKE SPACES PROVIDED - 0 SPACES

PRIVATE DRIVE (NAME TBD)

35.2'

43.6'

25.0'

138.9'

5' CONCRETE WALK

22'

25'

5.0'

NOTE: SIDEWALK CONNECTIONS, TRASH ENCLOSURES,LANDSCAPING, AND OTHER IMPROVEMENTS BETWEENPARKING LOTS AND BUILDINGS WILL BE ADDED BYDEVELOPERS OF PAD SITES BY SEPARATE SITE PLANREVIEW

20'

30.5'

40.9'

25'

56.5'

18' PEDESTRIAN ESMT

25.3'

NOTE: CURB MUST BE REPLACEDAFTER PAN IS REMOVED.

CURB CUT FOR DRAINAGEINTO RAIN GARDEN

TOWN OF WINDSOR, COLORADODRAWING APPROVAL

REVIEW IS FOR GENERAL COMPLIANCE WITH TOWNSTANDARDS. NO RESPONSIBILITY IS ASSUMED FOR

CORRECTNESS OF DESIGN.

Town Engineer Date

Legend

PROPOSEDSTRIPING -NO PARKING

20.22

EXISTING POWER 2 PLAY PARKING LOT -178 SPACES TOTAL

40' EAE & UE

EXISTING PARKING HIGHLAND MEADOWSGOLF COURSE SUBDIVISION 13TH FILING,LOT 3 - (POWER 2 PLAY FACILITY)EXISTING PAVED PARKING SPACES 178 SPACES

SHARED SPACES FROM LOT 3 69 SPACESSHARED SPACES FROM LOT 4 85 SPACES

TOTAL SHARED SPACES AVAILABLE 154 SPACES

SPACES AVAILABLE FOR EXISTING 332 SPACES AVAILABLEPARKING HIGHLAND MEADOWSGOLF COURSE SUBDIVISION13TH FILING, LOT 3(POWER 2 PLAY FACILITY)

PARKING CONTINGENCY NOTEIF IT HAS BEEN DETERMINED MORE PARKING IS NEEDED A CONDITIONAL USEGRANT WILL BE SUBMITTED TO REQUEST A GRAVEL PARKING AREA IN LOT 2 TOACCOMMODATE THE ADDITIONAL PARKING SPACES.

PLAN NOTE

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MEMORANDUMDate: June 10, 2019To: Mayor and Town BoardVia: Shane Hale, Town ManagerFrom: Stacy Miller, Director of Economic DevelopmentRe:Item #: E.1.

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