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' Yuma County,Colorado <br /> Notes to the Financial Statements <br /> ' December 31,2009 <br /> Summary of Significant Accounting Policies <br /> Yuma County(the"County")was formed in 1889 and is a statutory county located in eastern <br /> Colorado. An elected Board of Commissioners is responsible for setting policy, appointing <br /> ' administrative personnel and adopting an annual budget in accordance with state statutes. The <br /> County's major operations include administration, health and human services, police protection, <br /> road maintenance, and landfill operations. <br /> The County's financial statements are prepared in accordance with generally accepted <br /> accounting principles ("GAAP"). The Governmental Accounting Standards Board ("GASB") is <br /> responsible for establishing GAPP for state and local governments through its pronouncements <br /> ' (Statements and Interpretations). <br /> A. Reporting Entity <br /> The reporting entity consists of(a)the primary government; i.e., the County, and (b) <br /> organizations for which the County is financially accountable. The County is considered <br /> financially accountable for legally separate organizations if it is able to appoint a voting <br /> majority of an organization's governing body and is either able to impose its will on that <br /> organization or there is a potential for the organization to provide specific financial <br /> benefits to, or to impose specific financial burdens on, the County. Consideration is also <br /> given to other organizations which are fiscally dependent; i.e., unable to adopt a budget, <br /> ' levy taxes, or issue debt without approval by the County. Organizations for which the <br /> nature and significance of their relationship with the County are such that exclusion would <br /> cause the reporting entity's financial statements to be misleading or incomplete are also <br /> included in the reporting entity. <br /> The Yuma County Water Authority Public Improvement District(the"Water Authority <br /> Public Improvement District")serves all of the citizens of the County and is governed by a <br /> board comprised of the County Commissioners. The Water Authority Public <br /> ' Improvement District was created to address an imminent threat to the economic viability <br /> of a significant area within Yuma County and to assist in the State of Colorado's <br /> compliance with its obligations under a compact by purchasing surface water rights in the <br /> ' North Fork of the Republican River basin. The Water Authority Public Improvement <br /> District, a blended component unit, is reported as a special revenue fund. <br /> The Yuma County Water Authority(the"Water Authority") serves all of the citizens of the <br /> County and is governed by a board appointed by member jurisdictions,which include <br /> Yuma County, the City of Wray, the City of Yuma, and the Town of Eckley. The Water <br /> Authority was created to develop water resources, systems and facilities for the benefit of <br /> member jurisdictions. The Water Authority is reported as a discretely presented <br /> component unit. <br /> Resource flows(except those that affect the statement of net assets/balance sheet only, <br /> ' such as loans and repayments) between a primary government and its discretely <br /> presented component units are reported as external transactions—that is, as revenues <br /> and expenses. Resource flows between the primary government and blended component <br /> units are classified as interfund transactions in the financial statements. <br /> During 2009, the County contributed $789,570 to the Water Authority; of this amount <br /> $739,564 was used to acquire water rights. <br /> D1 <br />