HomeMy WebLinkAboutCity of Thornton - Public Financial Reportaccomplishments report
2021 ANNUAL thornton, coloradofiscal year ending december 31, 2021
table of contents
about this report
The purpose of this report is to cover the accomplishments
of the 2021 fiscal year and an overview of the city’s financial
positions. The financial information presented is unaudited and
in a summarized and condensed form, and does not substitute
for the city’s Annual Financial Report (AFR), which is prepared
in conformity with generally accepted accounting principles
(GAAP). The AFR can be found online at www.thorntonco.gov/
government/finance/Pages/.finance_accounting.aspx.
Letter from the City Manager
Accomplishments & Awards
About Thornton
2021 Accomplishments
Ensure Outstanding Public Safety
Infrastructure: Water, Roads, and Services
Plan for Our Future and Economic Growth
Maintain Strong Parks and Recreation
Financial Results
What Revenues Provide Core Services?
What Core Services Do We Provide?
Capital Projects
Responsible Fiscal Management
Enterprise Funds: Revenues and Expenses
How to Connect
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City Council Members
(from top to bottom, left to right):
Mayor Jan Kulmann, Eric
Garcia, Kathy Henson,
Julia Marvin, Mayor Pro
Tem Jessica Sandgren,
David Acunto, Tony
Unrein, Adam Matkowsky,
and Karen Bigelow
Front cover images
Top left: Slide at the newly renovated Margaret Carpenter Recreation Center pools
Top right: Pipes inside the new Thornton Water Treatment Plant
Bottom left: Common space at the Active Adult Center
Bottom right: Fireworks at the annual Thornton WInterFest
- 1 -
about thornton
growth
by the numbers
Thornton is a diverse community with a strong commitment to quality
of life. The community’s location provides an ideal environment for
business and recreation. Located in the north Denver metropolitan
area, Thornton shares boundaries with Westminster, Broomfield,
Northglenn, Federal Heights, and Commerce City. The community’s
natural setting of ridgelines, wildlife, waterways, rolling hills, and
undeveloped land provide Thornton residents with amenities that
contribute to a unique quality of life.
Thornton is the sixth largest city in Colorado with a population
of 146,270 in 38 square miles. Over the last decade, Thornton’s
population has grown by 15%.
The Pandemic Response team worked tirelessly to keep Thornton and surrounding
community members healthy and safe. More than 82,000 individuals were vaccinated by
the Thornton Fire Department by the summer of 2021; that number would increase to over
97,000 by the end of the year..
The median age of Thornton residents
is 34, and median household income is
$79,411.
There are over 52,000 residential housing
units in Thornton.
employers
Business services, retail, manufacturing,
health care services, and construction
comprise the largest share of employment
locally with major employers including
Amazon, Google, AMI Mechanical, Avaya,
Intrex Aerospace, Murphy Company,
Allegro Coffee, and Rocksol Consulting
Group, Inc.
The top 10 employers include:
Adams 12 Five Star
Schools
Amazon
American Furniture
Warehouse
Appliance Factory
City of Thornton
North Suburban
Medical Center
King Soopers
The Summit
Topgolf
Walmart Stores
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accomplishments & awards
Pandemic Response
The City allocated millions of dollars of its American Rescue
Plan and CDBG-CV grant to support both Thornton
businesses and non-profits serving the community during the
pandemic. The City also launched a new Alliance Business
Assistance Center in 2020, and in 2021, launched the pilot
Entrepreneurship Grant program to better support and
encourage the development of businesses in Thornton.
Public Safety
Construction of Fire Station No. 7 will be completed in late
2022 and the firefighters for the new station will complete their
training prior to opening the station. Construction of Phase 1 of
the new Police Training Facility, which consists of a new facility
that provides an adaptable environment for officers to practice
defensive tactics, a training classroom, a low-speed driving
track, simulation training area, and area for canine training,
began in 2021. Design of Phase 2 elements will begin in 2022.
Awards
Thornton Communication Center Dispatchers received State
and National recognition from Colorado’s Association of Public-
Safety Communications Officials (APCO).
The Fire Department won the 2021 Congressional Fire Service
Institute (CFSI)/Massimo Excellence in Fire Based EMS award
The design of Fire Station 1 won the Firehouse Magazine Silver
Award and Mountain States Award of Merit.
We were the first muncipality in Colorado to launch Telehealth/
Telemedicine Services in EMS, partially through a Colorado
State OeHI (Office of Electronic Health Innovation) grant.
The Thornton Water Treatment Plant was given the Award
of Merit Water/Environment from Engineering News Record
Magazine.
We received the GFOA (Government Finance Officers
Association) Triple Crown Medallion, which recognizes that
the government received all three GFOA awards (Certificate
of achievement for Excellence in Financial Reporting,
Distinguished Budget Presentation Award, and the Popular
Annual Financial Reporting Award).
Thornton was recognized as as one of the top Government
Access Channels in the country when we received the Award
of Honor in the Overall Excellence category from the National
Government Video Programming Awards.
At the Adams County Open Space spring grant cycle, the
city was awarded over $2.7M for the Margaret Carpenter
Recreation Center and Grange Hall Creek Park renovations.
The Big Dry Creek Pilot Project (between 152nd Parkway and
E470 west of York Street) was awarded a Colorado Lottery
Thornton’s population has grown
steadily since the city was first
incorporated in 1956. This period of
rapid expansion continued throughout
the 1970s and 1980s.
Over the past 60+ years, Thornton
has blossomed from a fledging
residential development on the
outskirts of Denver into a full-service
community that is home to over
146,000 residents. Thornton is
forecasted to reach a population of
over 190,000 by 2040.
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160,000
120,000
80,000
40,000
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letter from the city manager
Residents of Thornton,
We are pleased to present to you Thornton’s 2021 Annual Accomplishments Report. We kept Thornton a safe, healthy city as we
adapted to varients of COVID-19. Service levels remained high, and we provided vaccines and boosters to the community. Thornton
helped the community by distributing funding from the American Rescue Plan and CDBG-CV (Community Development Block Grant
— coronavirus) to businesses and residents. The accomplishments in this report demonstrate our commitment to exceptional service.
This report includes condensed and simplified information from the 2021 Annual Financial Report. The goal is to provide the public
with a snapshot of the fiscal health of the City of Thornton organization in an accessible and educational format. More detailed
financial information can be accessed at www.thorntonco.gov/government/finance. As the stewards of your public tax dollars, we
operate under conservative financial principles so that we can meet the needs of residents today while planning for the future of
Thornton residents.
Kevin S. Woods
City Manager
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ensure outstanding public safety
Thornton’s Fire Department supports the
public safety needs of the community by
providing fire and emergency medical services
quickly, competently, and compassionately.
Fire Chief Gordie Olson was named Colorado
Fire Chief of the Year.
The mission of the Police Department is
to serve and protect our community. The
department does this through a tradition
of providing high-quality police services,
deterring crime by engaging in effective
partnerships, collaborative problem solving,
and mentoring youth.
The Fire Department responded to a record 14,049 calls in
2021, a 15% increase from 2021 and includes 7,234 ambu-
lance transports. They administered over 97,000 COVID
vaccines to the public. The Fire Department also conducted
251 fire safety inspections and contained 89% of structure
fires to the room of origin.
In 2021, the Police Department had 139,000+ calls for ser-
vice. They also had 33 SWAT activations and handled 570
mental health holds to make our community safer.
The Police and Fire Department continued to overcome the
challenges of serving the community during COVID-19. Fire
continued to support the community with vaccines, boosters,
and testing during the year and the Delta and Omicron surges.
The Thornton Fire Department was the first in Colorado to lauch
Telehealth/Telemedicine Services in 2021.
The police department supported the community by attending
26 movies in the park, 8 concerts in the park, hosted a Bicycle
Rodeo, Law Enforcement Torch Run and participated in multiple
National Night Out events. They also conducted neighborhood
walks, community meetings, and “Coffee, Breakfast, and Lunch
with a Cop.” They also partnered with Adams County Workforce
to begin a Community Services Intern program.
The new Police Training Facility, located at 88th Avenue and
Colorado Boulevard, started construction in 2021. Once
construction is completed in 2022, officers will move their
mandatory, career tract, and hosted training to the new training
facility.
Fire responded on three wildland deployments to two Colorado
wildland fires and one in Washington. Staff members of the
Colorado Task Force-1 USAR team responded on Hurricane Ida.
Fire received $1.1 million through a FEMA Fire Safety and
Prevention Grant for conversion of Knox Boxes on business
occupancies to electronic (e-core) locks to allow for
interoperability with neighboring fire departments.
Above: Maurice and Wanda head back to the North Pole
Left: Rendering of the new PD Training Facility
Below: Maurice completing his engineer practical for his Driver Operator certification
by the numbers
what was accomplished?
respond?helped...fireshow did we...number of people we structure
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50,000 calls 5 min.6,000 calls
PD calls for service Number of structure fires
6:24
6:17
6:00 153,608
7,973
8,473
9,952
92
115
122,943
7,377 113
129
101
111,238
7,420103,910
139,584
7:31
6:52
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EMS calls for serviceAverage PD Emergency
response time
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infrastructure: water, roads, and services
Thornton’s infrastructure department
includes planning and maintaining streets,
traffic mobility, engineering services,
utilities operations, water treatment,
sewer, and collection of solid waste and
recyclables.
These services allow all residents the
opportunity to enjoy safe, well-maintained
streets, traffic mobility throughout the city,
efficient engineering services, cost-effective
trash and recycle collection, drinking
water that meets all safe drinking water
standards, and a reliable wastewater
collection system.
We maintain 1,290 miles of road and 93+ miles of bike
lanes. We added 23 miles of road and repaired 4,618 pot-
holes in 2021.
We treated over 8.2 billion gallons of water in 2021.
We provided 1,225 water efficiency rebates resulting in an
estimated water savings of 15,056,689 gallons.
We repaired 51 water breaks and added 307 water meters
in the city in 2021 for a total of 41,924 water meters.
10.6
19.8
36
27
28 152
144
5524
22
5,355
5,928
5,646
5,417
5,424
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3.6
5.9
10.8
what was accomplished?
We completed 17 capital improvement projects totaling
$77 million including Carpenter Rec Center Pool
Modifications, 144th Avenue Widening from Washington
Street to York Street, 128th Avenue Widening from York
Street to Colorado Boulevard, Big Dry Creek Lift Station,
Active Adult Center, and the Cooley East Pump Station.
The 2021 Street Rehabilitation Program paved 28.5 lane
miles with minimum citizen inconvenience.
The Thornton Water Project (TWP) acquired over 95%
of the easements needed for construction in Weld County
and achieved substantial completion of construction of the
pipeline in Windsor and Johnstown (Segment D).
In 2021, the city applied for and received grant funding
under the federal Highway Safety Improvement Program
(HSIP) for the installation of a traffic signal at the 120th
Avenue and Northaven Circle and the installation of a
traffic signal with access modifications at the 104th Avenue
at Washington Plaza (King Soopers) intersection. The HSIP
grant will fund 90% of a projects total cost ($581,000 and
$889,000 respectively).
The Cooley East Reservoir Pump Station Project was
completed, which was the final infrastructure component
needed to integrate the 2,700 acre-foot reservoir into
Thornton’s raw water supply system.
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4,500 tons
Above: Ongoing work for the Thornton Water Project
Left: New Thornton Water Treatment Plant
Below: Hot in place recycling
by the numbers recycle?weather?improve?build?what did we...
New bike lane miles Tons of material recycled Winter storm event responses Number of complaints on water taste and odor
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How many small businesses we served
New commercial permits New residential permits
plan for our future & economic growth
The City Development Department is
responsible for guiding the current and
future growth, including promoting quality
development that creates a safe, balanced
community for living, working and playing.
Staff manages the development processes,
works with developers in the city, and enforce
compliance with codes and ordinances.
Economic Development services support
local businesses, job growth, and primary
businesses. Staff also foster capital
investment for new retail development and
redevelopment of older areas of the city. Due
to COVID, the department expanded small
business support by creating the new Alliance
Business Center.
by the numbers
City Development removed 345 incidents of vandalism
totaling 24,300 square feet of graffiti in 2021, a 23%
and 5% increase respectively from 2020. We issued 21
commercial permits in 2021, valued at $52.7M.
The Alliance Business Center served 1,351 businesses in
2021 through business assistance, workshops (45 workshops
with 501 attendees), networking events, and use of space.
We had 27 retail prospects and inquires in 2021.
what opened?support?permit?
Above: Epicurean Butter, manufacturer of flavored butters, moved
into Thornton in early 2021
Below: Advanced Heart & Vein Grand Opening
Thornton has rebounded well following COVID, with most
retailers now performing at pre-Covid numbers. In addition,
we have been working to backfill vacant retail spaces and
restart the development projects that were put on hold
during COVID, including the King Soopers Marketplace
which is expected to open summer 2022 at 136th Avenue
and Quebec, and the new In-N-Out Burger at 111 E 136th
Avenue which opened late 2021. We also have over three
million square feet (SF) of office/industrial speculative space
delivered or planned to be delivered in the city over the next
few years; about one million SF already broke ground in
2021.
The city created an entrepreneurship grant program to
rebuild and sustain our economy from the impact of COVID
and attract new and unique businesses and services to the
Thornton community. This grant is called the Thornton Start
Up Grant and assists small business owners with starting a
business or relocating their business to a larger or second
location anywhere in the City of Thornton.
City Development successfully completed Metro District
regulations updates, the Neglected and Derelict Buildings
Code, oil and gas regulations updates, and temporary sign
regulations (vehicle signs). We also implemented the new
short-term rental licensing program and issued 30 licenses
in 2021. We are working on many development projects,
including Parterre and affordable housing projects such as
Avilla and Larkridge.
New Primary Employers:
• Murphy Company (Mech/HVAC),
• Aberdeen Construction,
• Sashco (manufacturing company),
• Epicurean Butter,
• Meati Foods,
• Solid Power, and
• Air Squared (oil-free scroll design).
Between these seven employers, we added over
750 new primary jobs to Thornton.
what was accomplished?
what did we...
490
1,043
1,092
338
351
248
194
199
496
622
565
138
281
Single Family Detached
Single Family Attached
Multifamily Units
23
26
25
31
24
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Reduced Rate Assistance Program (RRAP) for qualified:
1000 acres
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maintain strong parks and recreation
Thornton Parks, Recreation & Community
Programs (TPRCP) provide a wide array of
activities and programs to meet the parks
and recreation demand in the community,
including coordinating community events.
Other community programs are Active
Adult Services, Arts and Culture, and
Community Connections. Community
Connections serves as a one-stop resource
shop for Thornton resident, offering
programming and referrals to meet
individual needs for food, clothing, shelter,
social/mental health supports and beyond.
The city welcomed the new TPRCP
Director, Doug Romig from Polk County,
Iowa.
Thornton has a total of 83 parks and sports facilities. We
also maintain over 157 miles of trails within the city.
We invested a total of $1,430,813 from the Community
Development Block (CDBG) Grant and Thornton Assistance
Funds (TAF) in the community, which helped 35 nonprofit
organizations meet Thornton residents’ basic needs related
to food, housing, utilities, and medical services, as well as
providing support services for persons with disabilities,
seniors, at-risk youth, and domestic violence victims.
Thorncreek Golf Course will set records this year
for revenue and rounds played with 40,794 rounds
played, a 32% increase from 2020.
Arts & Culture completed the final year of traffic
box mural installations, the first public art project, an
outdoor mural by artist Patrick Maxcy at City Pool, and
the first interior mural completed by artist Julia Williams
for the arts room at the Active Adult Center.
For affordable apartment construction, Council
approved allocating $947,628 between HOME and
CDBG funds to Crossing Pointe South, a low-income
housing development that will provide 142 additional
units of affordable housing to the City.
At the city’s farmers market, we had almost 5,300
attendees and issued over 2,100 vouchers to older
adults, WIC, and SNAP participants.
The Homeless Outreach Team (HOT) started its
outreach pilot program in January 2021.
In partnership with Mile High Flood District, the city
is adding open space improvements and passive
recreation amenities to Niver Open Space, including
a Niver Nature Heritage Trail trailhead parking area,
nature play areas, boardwalks, shade shelters, and
overlooks of the creek.
Above: Lazy river at the newly renovated Margaret Carpenter
Recreation Center
Left: Newly completed Sky Park
Below: Newly replaced North Creek Playground
*This drop in numbers is due to the closure of the AAC
during the pandemic before curbside service began.
by the numbers
what was accomplished?
help?maintain?what did we...who did we...
Parks and open space
acreage open to the public Households Individuals
2,461 400
2,408 510
2,280 590
18,699
17,344
7,736*
172
142
105
335
18,674
94
2682,459
2,471 19,321
105
Meals Served by the Active Adult Center (AAC)
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what revenues provide core services?
2021 SALES TAX
The chart below shows General Fund revenues by source. Sales, use &
other taxes provides 64.3% of the total revenue in the General Fund.
Sales and use taxes for the general government as a whole increased
19.6%, this revenue source covers both general operations (General
Fund) and capital projects (Governmental Capital Fund). These taxes
included building use (up 43.9%) and vehicle use tax (up 30.7%).
The pie chart below breaks out what types of industries support our
sales tax base. This mix is particularly important during a recession
as certain types of sales tax generators are more stable in rough
economic times. This allowed Thornton to provide core services to
residents even during the COVID pandemic.
Charges for services make up 11.4%
of total revenues and are assessed
for specific service users, such as
recreation and facility rental fees. This
category was up 22.8% over 2020
due to golf course operations. Property
Tax makes up 10% of general fund
revenues and is unchanged at 10.21
mills. Licenses and permits are for
regulating various activities such as
building permits and liquor licenses
and are 4.2% of revenues. Franchise
fees, 3.8% of total revenues, are levied
on Xcel Energy and United Power to
conduct business in Thornton.
64¢11¢4¢4¢10¢5¢
furniture & electronics (6%)
telecom & cable utility (4%)
electric & natural gas (4%)
all other (6%)
automotive (6%)
construction (9%)
grocery (11%)restaurants & liquor (16%)
general merchandise (38%)
franchise fees
other revenues
licensing & permitsgrants & intergovernmentalproperty taxcharges for servicessales, use & other taxes
General merchandise (including Target, Walmart,
etc), grocery, restaurants, and liquor tend to be
steadier during economic hard times, whereas
automotive, construction, furniture, and electronics
tend to be harder hit.
The bulk of revenues comes from sales and use tax.
Total sales tax in Thornton is 8.5%. 3.75% is for the
city of Thornton and includes .25% for parks and
open space, which was approved by voters in 2013.
2.9% is for the state, .75% is for Adams County, this
includes .25% for open space. 1% is for RTD, and .1% is
for cultural facilties.
2021 TOTAL: $167.8M
what core services do we provide?
Every year, the city manager submits a budget for Council’s adoption.
The proposed budget must be balanced, meaning ongoing revenues
must meet or exceed ongoing expenditures. This budget takes into
account feedback from the community as well as goals and policy
direction from council, while remaining fiscally responsible.
The pie chart below breaks down the city’s general operating budget.
This information is important for modeling the city’s finances into
the future as certain types of costs are more flexible or increase at
different rates over the years. As an example, the cost of supplies will
generally rise with inflation, whereas the cost of labor rises with the
labor market. In 2021, we saw higher rates of inflation in supplies.
Thornton’s 2021 general
operating budget was approved
at $151.1 million. The three largest
departments are Police, Fire, and
Parks, Recreation and Community
Programs. 46% of the operating
expenses were for public safety
(police and fire), while 16% was
spent on parks and recreation. These
three departments also make up the
majority of the full-time employees in
the general operating fund.
city and economic development
legal & administrative
non-departmental expenses
infrastructure management servicesparks & recfirepolice
2021 TOTAL EXPENSES: $147.5M
The majority of the city’s costs come from
personnel. In 2021, 78% of the city’s general
operating budget went to fund the salary
and benefits of its 929 general fund full-time
employees, as well as part time or seasonal
employees.
In 2020, personnel was 79% of the city’s
general operating budget and in 2019,
personnel was 76%.
contractual services (17%)
fleet & equipment (1.5%)
other expenses (<1%)
supplies & commodities (3%)
personnel (78%)
2021 EXPENSES
29¢17¢15¢8¢6¢5¢16¢4¢
- 12 -- 13 -
ONGOING PROJECTS
PARKS & RECREATION INFRASTRUCTURE
Police Training Facility Phase 1
Fire Station No. 7
ADA Improvements
Community Center
Niver Creek Open Space
Improvements
TIMELINE: 2022 2023 2024
$9M
$20M
$16M
$2.5MONGOING INTO:2026 AND BEYOND
EST. COMPLETION: LATE 2022
EST. COMPLETION:LATE 2023/EARLY 2024
EST. COMPLETION:FALL 2022
$2MEST. COMPLETION:MID 2023
Sky Park is a new 2.3 acre pocket park that includes a dynamic
play space, shade pavilions with outdoor gathering areas and the
city’s first 5x5 soccer pitch.
Thomas J. Slocum Memorial Skate Park at Community Park is
completed and is almost twice as large as the previous park
and includes a concrete pump track. The skate park will include
seating areas, shade pavilion, public art and safety lighting.
The renovation of the Margaret W. Carpenter Recreation Center
Pools is now complete. This remodeled facility includes a new six-
lane lap pool with adjacent aqua-exercise pool, wave pool with
lazy river and bubble pit, activity pool with zero-depth entry, play
structure, geysers and sprays, two water slides and 20-person
therapeutic hydro-jet spa.
The Cooley East Reservoir Pump Station Project was completed,
which was the final component needed to integrate the 2,700
acre-foot reservoir into Thornton’s raw water supply system.
Work on the Fixed Base Meter Reading System began in 2021
and will be fully operational in early 2023. This system will
allow for more accurate and timely data on water usage for all
Thornton water meters, which will help reduce water leaks.
The city applied for and received grant funding under the federal
Highway Safety Improvement Program (HSIP) for the installation
of a traffic signal at the 120th Avenue and Northaven Circle and
the installation of a traffic signal with access modifications at the
104th Avenue at Washington Plaza (King Soopers) intersection.
capital projects: what has thornton built?
fire station no. 7
cooley east reservoir pump station
pool renovations at margaret w. carpenter recreation center
rebuild of new community center
thornton parkway improvements
police training facility
The city of Thornton maintains a five-year capital improvement
program (CIP) that staff updates annually. The initial year of the
CIP is adopted and approved by City Council as a component of
the annual budget. Capital improvement expenditures provide for
the acquisition, expansion, and rehabilitation of the city’s physical
assets. The appropriations for each individual capital project do
not lapse at the end of the fiscal year and instead are available
until the project is completed or canceled.
map of capital projects: facilities & infrastructure
sky park
- 14 -- 15 -
2021 CASH & INVESTMENTS
2021 TOTAL DEBT & PAYMENTS
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Unrestricted
Governmental
Capital & Special
Revenue Debt
Governmental
Capital & Special
Revenue Debt
Enterprise Debt Enterprise Debt
TDA Debt TDA Debt
Restricted (Enterprise, Parks and Open Space, TDA)
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Charges for Services
Charges for Services
Charges for Services Personnel
Metro Services
Charges for Service
Leases
Other
Other
Other
Contractual Services OtherCIP
Operating + Other CIP
Tap Fees Other
2
0
1
9
2
0
2
0
2
0
2
1
2
0
1
9
2
0
2
0
2
0
2
1
2
0
1
9
2
0
2
0
2
0
2
1
2
0
1
9
2
0
2
0
2
0
2
1
2
0
1
9
2
0
2
0
2
0
2
1
Personnel Contractual + Other Capital Improvement
Projects (CIP)
Personnel Contractual ServicesDebt Service Other CIP
responsible fiscal management
Each of Thornton’s debt issuances is rated AA- or better by
Moody’s Investors Service and Standard & Poor’s. This highly
favorable investment rating allows the city to pay less interest
on its debt issuances. On December 31, 2021, the city’s total
*Does not include the IGA Repayment with Westminster for 144th and I-25, as this is a contractual obligation and not a debt issued by the City.
* Restricted includes $3.4M for Water Fund bond reserves, $4.2M for Parks and Open Space reserved COP proceeds, and $3.7M for TDA bond reserves. ** There is $3.8M for Enterprise, all of which is for bond reserves. There is $14.9 for Parks and Open Space, which is all for unspent S2020 COP proceeds. There is $3.7M for TDA, all of which is for bond reserves. In essence, all restricted cash and investments are for bond reserves or unspent COP proceeds.
Investment policies are governed by City Council-adopted policy.
The principal objective of the city’s cash and investment strategy
is preservation of investment principal. Thus, the policy allows for
only fixed-income investments, such as state or local government
debt, U.S. agency obligations, or U.S. corporate debt. Equity
investments, such as common stock or mutual funds, are not
allowed under the city’s policy.
On December 31, 2021, the fair market value of the city’s cash
and investments was $484.1 million. The yield on market for the
total assets in the portfolio for 2021 was 1.05%. Total interest
only earnings were $5.5 million (no unrealized gain or loss on
investments).$368.7M
$472.8M
$444.5M
$89.4M*$10.5M
$106.9M $7.0M
$32M $3.2M
$6.9M
$11.3M*
$22.3M**
2021 TOTAL DEBT: $228.3 M*2021 ANNUAL PAYMENT: $20.7 M
debt was $228.3 million, of which $121.4 million was related to
government activities and $106.9 million to enterprise (business-
type) activities.
enterprise funds: revenues and expenses*
55%
60%
59%
88%
100%
100%
100%
98%
99%
91%
78%
95%
23%
26%
20%
7%
12%
2021 REVENUE: $17.8M 2021 EXPENSES: $17.7M
2021 REVENUE: $5.9M
2021 REVENUE: $88.8M
2021 EXPENSES: $84.4M
2021 REVENUE: $4.3M
2021 EXPENSES: $6.2M
2021 EXPENSES: $4.3MFor all funds, capital
improvement projects fluctuate
year to year based on capital
needs of the city.
The STORMWATER FUND
was established in 2019 and is
responsible for the city’s drainage
system.
The SEWER FUND is
responsible for operating
and maintaining the city’s
wastewater collection system.
On the expenditures side, city
water is treated at the Metro
Wastewater Reclamation
District (MWRD) and accounts
for the majority of sewer
The ENVIRONMENTAL
SERVICES FUND provides
curbside trash and recycling
collection services to over
31,000 homes. Increases in
revenue are due to a growing
The WATER FUND is
responsible for operating,
maintaining, and planning
for the future of Thornton’s
water utility.
*This does not include non-
cash items, such as capital
improvement contributions or
depreciation.
15%
10%
10%
64%
43%
29%
51%
80%11%
11%14%
55%
74%
68%4%
14%
12%
9%
7%
9%13%
4%
11%
42%
45%
39%
30%
33%
50%
28%
22%
32%
27%
34%
37%
31%15%
37%9%
16%
27%
- 16 -- 17 -
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