North Carolina
Department of State Treasurer
Financial Information
Town of Banner Elk

Financial Profile | General Fund | Enterprise Funds | Cash, Investments and Financing
Annual Financial Information Report Detail | Water/Sewer Information
Financial Graphs and Comparisons
Download Excel 97 Version of Financial Summary

Institute of Government North Carolina Cities Web Site

Go to North Carolina County and Municipal Financial Information Home Page
Go to Avery County Map Page

Note: All data unless otherwise specified is for the 12 month period ending June, 30th of the designated year

Municipality Revenues and Expenditures Financial Profile Go to top of page			2010	2009	2008	2007	2006	2005
	Revenues by Source
		Property Tax	$905,631	885,166	767,781	756,907	541,574	478,438
		Utility	656,433	676,679	635,804	894,662	843,806	901,636
		Sales Tax	213,645	250,359	308,883	296,009	267,954	260,292
		Sales & Services	26,000	120,575	104,387	102,085	101,834	93,192
		Intergovernmental	240,192	235,916	395,227	570,226	1,093,625	326,650
		Debt Proceeds	78,653	234,028	91,267	105,586	47,660	59,014
		Other Miscellaneous	96,764	137,484	266,406	256,890	278,047	261,790
		Total	$2,217,318	2,540,207	2,569,755	2,982,365	3,174,500	2,381,012

	Expenditures by Function
		Utility	$456,807	1,167,030	757,204	1,102,740	2,000,365	532,725
		Debt Service	91,846	112,611	183,167	110,549	197,214	85,165
		Transportation	205,569	177,781	308,380	632,395	116,044	481,856
		General Government	369,706	328,136	289,343	281,900	411,183	275,355
		Public Safety	736,188	812,091	592,075	462,305	432,733	464,370
		Other	190,743	312,980	228,560	473,386	197,164	126,193
		Total	$2,050,859	2,910,629	2,358,729	3,063,275	3,354,703	1,965,664

	Expenditures by Object
		Salaries & Wages	$914,158	1,119,319	945,099	869,870	734,360	780,699
		Capital Outlay	174,105	854,758	255,228	823,807	1,853,745	325,922
		Other Operating + Debt Service	962,596	936,552	1,158,402	1,369,598	766,598	859,043
		Total	$2,050,859	2,910,629	2,358,729	3,063,275	3,354,703	1,965,664


	Per Capita Revenues by Source
		Property Tax	$932	846	782	742	553	462
		Utility	675	647	647	877	862	871
		Sales Tax	219	239	316	290	274	251
		Sales & Services	27	115	106	100	104	90
		Intergovernmental	247	226	402	559	1,117	316
		Debt Proceeds	81	224	93	104	49	57
		Other Miscellaneous	100	131	271	252	284	253
		Total	$2,281	2,428	2,617	2,924	3,243	2,300

	Per Capita Expenditures by Function
		Utility	$470	1,116	771	1,081	2,043	515
		Debt Service	94	108	187	108	201	82
		Transportation	211	170	314	620	119	466
		General Government	382	314	294	277	421	265
		Public Safety	757	776	603	453	442	449
		Other	196	299	233	464	201	122
		Total	$2,110	2,783	2,402	3,003	3,427	1,899

	Per Capita Expenditures by Object
		Salaries & Wages	$940	1,070	962	853	750	754
		Capital Outlay	179	817	260	808	1,894	315
		Other Operating	991	896	1,180	1,342	783	830
		Total	$2,110	2,783	2,402	3,003	3,427	1,899

	Population Group		No Electric 500 to 999	No Electric 1,000 to 2,499	No Electric 500 to 999	No Electric 1,000 to 2,499	No Electric 500 to 999	No Electric 1,000 to 2,499
		Number of Municipalites in Group	99	100	96	101	95	103
		Average Population In Group	727	1,652	729	1,642	727	1,632
		Town of Banner Elk Population	972	1,046	982	1,020	979	1,035
	Group Average Per Capita Revenues by Source
		Property Tax	414	422	400	369	298	331
		Utility	424	436	423	430	312	379
		Sales Tax	137	178	190	195	155	172
		Sales & Services	67	76	55	77	47	71
		Intergovernmental	322	228	298	220	357	219
		Debt Proceeds	35	33	96	38	45	57
		Other Miscellaneous	147	162	178	203	165	141
		Total	1,546	1,535	1,640	1,532	1,379	1,370

	Group Average Per Capita Expenditures by Function
		Utility	442	531	437	461	484	425
		Debt Service	105	154	97	110	71	107
		Transportation	135	146	147	141	117	132
		General Government	259	216	320	200	224	193
		Public Safety	286	352	296	348	241	294
		Other	281	201	291	206	292	170
		Total	1,508	1,600	1,588	1,466	1,429	1,321

	Group Average Per Capita Expenditures by Object
		Salaries & Wages	448	498	438	447	334	409
		Capital Outlay	254	327	325	332	394	308
		Other Operating	806	775	825	686	701	604
		Total	1,508	1,600	1,588	1,465	1,429	1,321


General Fund Go to top of page			2010	2009	2008	2007	2006	2005
	General Fund revenues		$1,525,389	1,617,649	1,559,335	1,564,470	1,300,301	1,236,016
	General Fund expenditures		1,382,300	1,350,954	1,192,715	1,029,994	907,565	978,605
	Operating transfers in		-	-	16,596	-	-	-
	Operating transfers out		137,596	350,621	1,006,002	238,527	226,886	170,273
	Capital leases and installment purchase proceeds		-	-	-	-	-	-
	Other items		-	-	-	-	-	-
	Excess of revenues and other sources over (under) expenditures and other uses		5,493	(83,926)	(622,786)	295,949	165,850	87,138

	Fund balance available (FBA):
		In dollars	$482,734	467,750	553,104	892,806	883,033	720,597
		FBA as a % of GF Net Expenditures:
		Unit's FBA %	31.76	27.49	25.16	70.38	77.84	62.72
		Group weighted average FBA %	100.22	66.05	88.22	65.48	101.57	69.64
		State weighted average Non-Electric Group	39.13	37.89	36.65	37.39	37.38	36.82
		State weighted average FBA %	37.79	37.09	36.34	36.54	36.96	36.78


Enterprise Funds: Go to top of page
	Water/Sewer

	Combined financial results:
		Working capital	$237,306	102,316	436,198	612,968	675,155	1,057,498
		Quick ratio	3.38	1.84	4.79	4.35	7.85	9.22
		Net income	(33,958)	(66,231)	(235,992)	274,452	926,020	470,837
		Cashflow from operations	211,394	(30,907)	(30,478)	270,552	325,603	539,366
		Depreciation & Amortization Expense	241,171	220,973	218,155	212,723	173,364	121,637



Cash, Investments and Financing Go to top of page			2010	2009	2008	2007	2006	2005

		Population at July 1st of the Previous Year	972	1,046	982	1,020	979	1,035
		Population Group	No Electric 500 to 999	No Electric 1,000 to 2,499	No Electric 500 to 999	No Electric 1,000 to 2,499	No Electric 500 to 999	No Electric 1,000 to 2,499
		Cash &Investments	$0	0	0	0	0	0
		Investment Earnings	0	0	0	0	0	0
		Tax Rate Equivalent	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
		Tax Rate Equivalent Group weighted average	0.0000	0.0000	0.0000	0.0004	0.0000	0.0000
		Tax Rate Equivalent Statewide weighted average	0.0013	0.0034	0.0069	0.0101	0.0080	0.0043
		Latest year of Revaluation	2006	0	2006	2006	2002	2002
		January 1, Prior Year Assessed Valuation	$241,855,478	243,100,973	204,979,756	164,485,672	105,560,912	91,799,555
		Tax Rate	0.3800	0.3800	0.3800	0.4600	0.5100	0.5100
		Tax Rate Group weighted average	0.1922	0.2983	0.1936	0.3424	0.2737	0.3306
		Tax Rate State Wide	0.4060	0.4262	0.4238	0.4450	0.4321	0.4448
		Assessment -to-Sales Ratio	93.30	71.07	82.33	100.00	72.36	77.44
		Assessment -to-Sales Ratio Group weighted average	101.44	86.77	87.75	79.96	88.06	86.82
		Assessment -to-Sales Ratio Statewide	98.29	90.81	88.53	88.41	92.28	92.35
		Assessed Valuation Adjusted for Assesment to Sales Ratio	$259,223,449	342,058,496	248,973,346	164,485,672	145,882,963	118,542,814
		EffectiveTax Rate	0.3545	0.2701	0.3129	0.4600	0.3690	0.3949
		Group weighted average Effective Tax Rate	0.1950	0.2589	0.1699	0.2737	0.2410	0.2870
		Statewide weighted average Effective Tax Rate	0.3990	0.3870	0.3752	0.3934	0.3987	0.4108
		Percent Collected	96.0800	96.6500	99.6600	99.8000	99.0000	99.0900
		Percent Collected Group weighted average	95.98	95.99	96.16	97.18	95.56	96.84
		Percent Collected Statewide	97.61	97.36	97.56	97.58	97.55	97.42
		Percent Collected Excluding Motor Vehicles	97.31	97.48	99.72	99.83	99.94	99.62
		Percent Collected Excluding Motor Vehicles Group weighted average	96.49	96.67	97.36	98.01	97.10	97.85
		Percent Collected Excluding Motor Vehicles Statewide weighted average	98.30	98.31	98.65	98.59	98.61	98.36
		Percent Collected Motor Vehicles Only	74.11	74.08	97.98	99.05	83.54	90.67
		Percent Collected Motor Vehicles Only Group weighted average	82.05	84.60	83.47	86.07	82.58	86.22
		Percent Collected Motor Vehicles Only Statewide weighted average	86.89	86.67	86.74	86.71	86.80	87.31
		Tax Uncollected	71,533	51,880	27,812	32,441	31,365	30,124
		Tax Rate Equivalent	0.0296	0.0213	0.0136	0.0197	0.0297	0.0328
		Dominant County: Avery
	Debt Information
		Population Group	500 to 999	1,000 to 2,499	500 to 999	1,000 to 2,499	500 to 999	1,000 to 2,499
		Ratings:
		Fitch
		Moody's
		S & P

		General Obligation Debt (GO) where the taxing power of the entrire municipality is pledged to pay the obligation
		Enterprise GO Debt	$618,000	668,000	717,000	764,000	809,000	820,500
		General Government GO Debt	0	0	0	0	0	0
		Total General Obligation Debt	618,000	668,000	717,000	764,000	809,000	820,500
		Per Capita	$636	639	730	749	826	793
		Total Per Capita for the Population Group	193	265	215	294	223	306
		Total Per Capita Statewide	449	455	456	478	495	505
		Total per Assessed Valuation Adjusted for Current Year Sales	0.2384%	0.1953%	0.2880%	0.4645%	0.5546%	0.6922%
		Total per Assessed Valuation Adjusted for Current Year Sales- Group Average	0.0895%	0.1750%	0.0884%	0.2336%	0.1673%	0.2847%
		Total per Assessed Valuation Adjusted for Current Year Sales - Statewide	0.4104%	0.3909%	0.4132%	0.4706%	0.5275%	0.5588%
		Total Authorized but not Issued General Obligation Debt

		Installment Sales Purchases and Lease Obligations
		--Enterprise	$0	0	0	0	0	0
		--General Government	0	0	0	0	0	0
		Total*	$0	0	0	0	0	0
		* The total only includes the contracts that require Local Government Commission approval.
		Revenue Bond Debt	$0	0	0	0	0	0


Annual Financial Information Report Detail Go to top of page
Line	Section	Description	2010	2009	2008	2007	2006	2005
	Population at July 1st of the Previous Year Adjusted for Boundry Changes		972	1,046	982	1,020	979	1,035

1.5A	FISCAL	Governmental Activities Assets	3,362,044	3,273,142	3,163,582	2,431,681	1,806,693	1,647,505
1.5B	SUMMARY	Governmental Activities Liabilities	394,779	362,976	539,085	359,154	351,871	442,569
3.5A		Business Type Activities Assets	4,622,275	4,705,335	4,833,163	5,235,035	5,015,254	4,124,900
3.5B		Business Type Activities Liabilties	675,170	724,272	785,869	951,749	1,006,420	1,042,086
6.5A		Fiduciary Funds Assets
6.5B		Fiduciary Funds Liabilties
10.0	PART 2	Current Collections of Unit -Wide Levy	896,306	881,164	763,130	753,791	537,844	472,307
11.0	TAX	Current Collections of Special Tax Districts
12.0	REVENUES	Prior Years' Levy Collections	4,556	2,327	320	311	1,362	3,276
13.0		Penalties and Interest	4,769	1,675	4,331	2,805	2,368	2,855
14.0		Collections of Taxes Previously Written Off
15.0		Animal Tax
15.1		Solid Waste Disposal Tax
16.0		1% Local Government Option Sales Tax	105,743	109,177	130,684	122,887	110,469	107,789
17.0		1/2% Local Government Option Sales Tax (40)	58,091	54,001	63,409	61,018	54,642	53,376
18.0		1/2% Local Government Option Sales Tax (42)	44,274	53,436	62,873	60,452	54,206	51,851
18.5		1/2% Local Government Option Sales Tax (44)	5,537	33,745	51,917	51,652	48,637	47,276
19.0		Privilege Licenses	4,295	4,101	2,579	4,713	3,841	4,104
19.2		Privilege -- All other privileges and pemits
20.0		Auto Licenses
21.0		Vehicle Tax for Public Transportation
22.0		Other Licenses
23.0		Local Occupancy Tax
24.0		Prepared Food Tax
25.0		911 Charges
26.0		Gross Short Term lease and Rental Tax
27.0	FEDERAL	Payments In Lieu of Taxes - Federal
28.0	INTERGOV	Equitable Sharing of Fed. Forfeited Prop.
29.0	REVENUES	General Government
30.0		Public Safety	55,462	57,641	48,193	42,561	129,431	183,613
31.0		Transportation - Streets
32.0		Transportation - All Other
33.0		Environmental Protection
34.0		Econ. & Phys. Dev. - Housing/Comm. Dev.
35.0		Econ. & Phys. Dev. - All Other					640,000
36.0		Human Services: Health, Mental Hlt & Hosp
37.0		Human Services: All Other
38.0		Culture & Recreation
39.0	STATE	Payments In Lieu of Taxes - State
40.0	INTERGOV	Unauthorized Substance Tax
41.0	REVENUES	Transitional Hold Harmless	41,926	15,678
42.0		Wireless Enhanced 911 Service Charges
42.1		Emergency Telephone Services Fund (ETSF) Revenues (Do not include interest)
42.2		ETSF Interest Income
43.0		Piped Natural Gas Charge Distribution
44.0		Utility Franchise Tax	87,591	97,421	82,460	78,768	67,272	51,478
45.0		Beer and Wine Tax	1,492	4,410	4,699	4,424	4,572	4,404
46.0		Powell Bill	38,221	42,066	45,337	41,018	42,110	39,742
50.0		Court Fees - Facilities and Arrest Fees
51.0		General Government
52.0		Public Safety
53.0		Transportation - Streets
54.0		Transportation - All Other
55.0		Environmental Protection
56.0		Econ. & Phys. Dev. - Housing/Community Dev
57.0		Econ. & Phys. Dev. - All Other				226,717	163,277
58.0		Human Services -Health, Mental Health, Hosp
59.0		Human Services - All Other
60.0		Culture and Recreation			195,838	166,738
61.0	LOCAL	Payments in Lieu of Taxes - Local
62.0	INTERGOV	General Government
63.0	REVENUES	Public Safety					12,716	19,238
64.0		Transportation - Streets
65.0		Transportation - All Other	15,500	18,700	18,700	10,000	34,247	28,175
66.0		Environmental Protection
67.0		Economic and Physical Development
68.0		Human Services - Health, Mental Hlt & Hosp
69.0		Human Services - All Other
70.0		Culture and Recreation
71.0	PERMITS	Building Permits	4,328	9,281	10,374	13,688	24,523	14,259
72.0	& FEES	Inspection Fees
72.1		Amusements licensing and permit taxes
73.0		Other Permits
74.0	SALES &	Parking Revenues
75.0	SERVICES	Rents and Royalties	7,447	6,011	8,405	13,600	12,875	14,125
76.0		Airport
77.0		Fire Protection Charges
78.0		Solid Waste	-302	92,753	95,982	88,485	88,959	79,067
79.0		Ambulance and Rescue Squad Charges
80.0		Cemeteries
81.0		Recreation Service Revenues
82.0		Library Service Revenues
83.0		Other Cultural and Rec Service Revenues	18,855	21,811
84.0		Mass Transit - City Operated
85.0		Other Sales and Services
86.0	UTILITY	Water and Sewer Charges	656,433	676,679	635,804	894,662	843,806	901,636
87.0	REVENUES	Electric Charges
88.0		Gas Charges
88.1		Storm Water Fees
89.0	MISC.	Investment Earnings - Bond Proceeds
90.0	REVENUES	Investment Earnings - All Other Funds	4,946	26,096	72,614	88,920	83,256	27,334
91.0		Special Assessments
92.0		Private Contributions and Donations	700	14,280	8,619	64,545	1,858
93.0		Sales of Materials and Fixed Assets			88,000
94.0		Sale of Real Property
95.0		Nongovt Contr For Streets & Traffic Signals
96.0		ABC Mixed Drink Surcharge	82,495	83,726	84,220	85,024	74,572	63,331
97.0		ABC Profit Distribution
98.0		Other Miscellaneous Revenues	78,653	234,028	91,267	105,586	47,660	59,014
99.0		Proceeds of Sale of Bonds and Notes
100.0		Proceeds of Capital Leases/Install Purchases					89,997	152,762
101.0		Other
102.0	NON-REV	School - Current Levy Collections
103.0	RECEIPTS	Prior Years' Levy Collections
104.0		Tax Collections for Other Units
105.0		Utilities Customer's Deposits
106.0		Deposits Other than Utility
107.0		Prepaid Taxes
108.0		Prepaid Privilege Licenses
109A	PART 4	Governing Body - Salaries & Wages	12,600	13,805	13,564	10,084	4,861	4,800
109B	GENERAL	Governing Body - Other Direct	47,309	41,485	37,948	275	406	535
109C	GOVT	Governing Body - Construction
109D		Governing Body - Purchase of P,P&E
110A		Administration - Salaries & Wages	93,502	109,529	88,963	78,817	73,287	82,654
110B		Administration - Other Direct	107,170	80,145	63,834	68,861	54,944	46,393
110C		Administration - Construction
110D		Administration - Purchase of P,P&E	4,639	2,885	1,723	4,301	2,969
111A		Elections - Salaries & Wages
111B		Elections - Other Direct
111C		Elections - Construction
111D		Elections - Purchase of P,P&E
112A		Finance - Salaries & Wages	50,835	45,781	41,698	55,078	49,760	47,526
112B		Finance - Other Direct	22,308	6,398	9,158	28,598	19,547	20,691
112C		Finance - Construction
112D		Finance - Purchase of P,P&E	588	1,138	105	-241	276
113A		Taxes - Salaries & Wages
113B		Taxes - Other Direct
113C		Taxes - Construction
113D		Taxes - Purchase of P,P&E
114A		Legal - Salaries & Wages
114B		Legal - Other Direct
114C		Legal - Construction
114D		Legal - Purchase of P,P&E
115A		Public Buildings - Salaries & Wages
115B		Public Buildings - Other Direct	30,755	26,970	32,350	36,127	28,528	24,094
115C		Public Buildings - Construction					176,605	48,662
115D		Public Buildings - Purchase of P,P&E
116A		Court Facilities - Salaries & Wages
116B		Court Facilities - Other Direct
116C		Court Facilities - Construction
116D		Court Facilities - Purchase of P,P&E
117A		Central Services - Salaries & Wages
117B		Central Services - Other Direct
117C		Central Services - Construction
117D		Central Services - Purchase of P,P&E
118A		Gen. Govt. All Other - Salaries & Wages
118B		Gen. Govt. All Other - Other Direct
118C		Gen. Govt. All Other - Construction
118D		Gen. Govt. All Other - Purchase of P,P&E
119A	PUBLIC	Police & Comm - Traffic Control - Salaries and Wages	399,829	518,718	431,999	369,297	325,268	309,924
119B	SAFETY	Police & Comm - Traffic Control - Other Direct	264,699	100,374	104,847	57,847	49,099	61,590
119C		Police & Comm - Traffic Control - Construction	28,654	154,536	27,616		33,057
119D		Police & Comm - Traffic Control - Purchase of P,P&E	4,537	5,638	6,935	21,981	13,292	73,925
120A		Emergency Communications - Salaries & Wages
120B		Emergency Communications - Other Direct
120C		Emergency Communications - Construction
120D		Emergency Communications - Purchase of P,P&E
120B		Emergency Telephone Service Fund (ETSF) Expenditures - Operating
120C		ETSF Expenditures - Capital Construction
120D		ETSF Expenditures - Capital Purchases
121A		Emergency Mgmt - Salaries & Wages
121B		Emergency Mgmt - Other Direct
121C		Emergency Mgmt - Construction
121D		Emergency Mgmt - Purchase of P,P&E
122A		Fire - Salaries & Wages
122B		Fire - Other Direct
122C		Fire - Construction
122D		Fire - Purchase of P,P&E
123A		Inspectors - Salaries & Wages
123B		Inspectors - Other Direct
123C		Inspectors - Construction
123D		Inspectors - Purchase of P,P&E
124A		Rescue Units - Salaries & Wages
124B		Rescue Units - Other Direct
124C		Rescue Units - Construction
124D		Rescue Units - Purchase of P,P&E
125A		Animal Control - Salaries & Wages
125B		Animal Control - Other Direct
125C		Animal Control - Construction
125D		Animal Control - Purchase of P,P&E
126A		Pub. Safety All Other - Salaries & Wages						3,847
126B		Pub. Safety All Other - Other Direct
126C		Pub. Safety All Other - Construction
126D		Pub. Safety All Other - Purchase of P,P&E
127A	TRANSPOR	Traffic Engineering - Salaries & Wages
127B	TATION	Traffic Engineering - Other Direct
127C		Traffic Engineering - Construction
127D		Traffic Engineering - Purchase of P,P&E	49,156	30,233	38,219			33,049
128A		Streets and Highways - Salaries & Wages	68,747	56,684	46,514	21,532	19,654	133,064
128B		Streets and Highways - Other Direct	48,697	41,577	179,793	581,474	74,866	295,992
128C		Streets and Highways - Construction	13,680	29,830	13,199
128D		Streets and Highways - Purchase of P,P&E
129A		Street Cleaning - Salaries & Wages
129B		Street Cleaning - Other Direct
129C		Street Cleaning - Construction
129D		Street Cleaning - Purchase of P,P&E
130A		Powell Bill - Salaries & Wages
130B		Powell Bill - Other Direct	25,289	19,457	30,655	29,389	21,524	19,751
130C		Powell Bill - Construction
130D		Powell Bill - Purchase of P,P&E
131A		Parking Facilities - Salaries & Wages
131B		Parking Facilities - Other Direct
131C		Parking Facilities - Construction
131D		Parking Facilities - Purchase of P,P&E
132A		Mass Transit - City - Salaries & Wages
132B		Mass Transit - City - Other Direct
132C		Mass Transit - City - Construction
132D		Mass Transit - City - Purchase of P,P&E
133B		Mass Transit - Private - Other Direct
134A		Airport - Salaries & Wages
134B		Airport - Other Direct
134C		Airport - Construction
134D		Airport - Purchase of P,P&E
135A		Transpor. All Other - Salaries & Wages
135B		Transpor. All Other - Other Direct
135C		Transpor. All Other - Construction
135D		Transpor. All Other - Purchase of P,P&E
136A	ENVIRON	Solid Waste - Salaries & Wages				31,051	34,294
136B	MENTAL	Solid Waste - Other Direct	-2,207	84,903	92,334	101,507	105,251	76,076
136C	PROTECTION	Solid Waste - Construction
136D		Solid Waste - Purchase of P,P&E				1,691	405
137A		Drainage & Watershed - Salaries & Wages
137B		Drainage & Watershed - Other Direct
137C		Drainage & Watershed - Construction
137D		Drainage & Watershed - Purchase of P,P&E
138A		Cemeteries - Salaries & Wages
138B		Cemeteries - Other Direct
138C		Cemeteries - Construction
138D		Cemeteries - Purchase of P,P&E
139A		Environ. All Other - Salaries & Wages
139B		Environ. All Other - Other Direct
139C		Environ. All Other - Construction
139D		Environ. All Other - Purchase of P,P&E
140A	ECONOMIC	Planning & Zoning - Salaries & Wages	40,768	51,272	35,880	32,596	650	19,123
140B	& PHYSICAL	Planning & Zoning - Other Direct	24,396	11,540	13,375	8,764	8,015	18,751
140C	DEVELOP	Planning & Zoning - Construction
140D		Planning & Zoning - Purchase of P,P&E	5,385	1,085	105		1,474	1,891
141A		Economic Development - Salaries & Wages
141B		Economic Development - Other Direct
141C		Economic Development - Construction
141D		Economic Development - Purchase of P,P&E
142A		Community Development - Salaries & Wages
142B		Community Development - Other Direct
142C		Community Development - Construction
142D		Community Development - Purchase of P,P&E
143A		Housing & Urban Renewal - Salaries & Wages
143B		Housing & Urban Renewal - Other Direct
143C		Housing & Urban Renewal - Construction
143D		Housing & Urban Renewal - Purchase of P,P&E
144A		Special Empl Programs - Salaries & Wages
144B		Special Empl Programs - Other Direct
144C		Special Empl Programs - Construction
144D		Special Empl Programs - Purchase of P,P&E
145A		Econ. Dev. All Other - Salaries & Wages
145B		Econ. Dev. All Other - Other Direct
145C		Econ. Dev. All Other - Construction
145D		Econ. Dev. All Other - Purchase of P,P&E
146A	HUMAN	Health - Salaries & Wages
146B	SERVICES	Health - Other Direct
146C		Health - Construction
146D		Health - Purchase of P,P&E
147A		Mental Health - Salaries & Wages
147B		Mental Health - Other Direct
147C		Mental Health - Construction
147D		Mental Health - Purchase of P,P&E
148A		Social Services - Salaries & Wages
148B		Social Services - Other Direct
148C		Social Services - Construction
148D		Social Services - Purchase of P,P&E
149B		Hospital-City - Other Direct
150B		Hospital-Private - Other Direct
151A		Legal Aid - Salaries & Wages
151B		Legal Aid - Other Direct
151C		Legal Aid - Construction
151D		Legal Aid - Purchase of P,P&E
152A		Human Serv. All Other - Salaries & Wages
152B		Human Serv. All Other - Other Direct
152C		Human Serv. All Other - Construction
152D		Human Serv. All Other - Purchase of P,P&E
153A	CULTURE	Recreation & Parks - Salaries & Wages	22,271	17,875	28,918
153B	RECREATION	Recreation & Parks - Other Direct	65,502	55,488	46,962	28,290	47,075	6,552
153C		Recreation & Parks - Construction	34,628	85,567	10,986	269,487		3,800
153D		Recreation & Parks - Purchase of P,P&E		5,250
154A		Coliseum - Salaries & Wages
154B		Coliseum - Other Direct
154C		Coliseum - Construction
154D		Coliseum - Purchase of P,P&E
155A		Museums - Salaries & Wages
155B		Museums - Other Direct
155C		Museums - Construction
155D		Museums - Purchase of P,P&E
156A		Libraries - Salaries & Wages
156B		Libraries - Other Direct
156C		Libraries - Construction
156D		Libraries - Purchase of P,P&E
157A		Cult. & Recr. All Other - Salaries & Wages
157B		Cult. & Recr. All Other - Other Direct
157C		Cult. & Recr. All Other - Construction
157D		Cult. & Recr. All Other - Purchase of P,P&E
158A	UTILITY	Water & Sewer - Salaries & Wages	225,606	305,655	257,563	271,415	226,586	179,761
158B		Water & Sewer - Other Direct	198,363	322,779	343,301	304,737	148,112	188,369
158C		Water & Sewer - Construction		476,386	130,557	502,105	1,535,670	138,406
158D		Water & Sewer - Purchase of P,P&E	32,838	62,210	25,783	24,483	89,997	26,189
159A		Electric Power - Salaries & Wages
159B		Electric Power - Other Direct
159C		Electric Power - Construction
159D		Electric Power - Purchase of P,P&E
160A		Natural Gas - Salaries & Wages
160B		Natural Gas - Other Direct
160C		Natural Gas - Construction
160D		Natural Gas - Purchase of P,P&E
161.1A		Storm Water - Salaries & Wages
161.1B		Storm Water - Other Direct
161.1C		Storm Water - Construction
161.1D		Storm Water - Purchase of P,P&E
161B	DEBT	Water & Sewer - Interest & Fees	25,250	27,913	37,810	64,080	83,638	58,338
161D	SERVICE	Water & Sewer - Principal	50,000	68,102	128,761	11,500	78,607	6,133
162B		Electric - Interest & Fees
162D		Electric - Principal
163B		Gas - Interest & Fees
163D		Gas - Principal
164B		School - Interest & Fees
164D		School - Principal
165B		Hospital - Interest & Fees
165D		Hospital - Principal
166B		All Other - Interest & Fees	13,186			1,210	15,279	2,156
166D		All Other - Principal	3,410	16,596	16,596	33,759	19,690	18,538
167B	PENSION	Direct Benefit Program - Other Direct
168B	FRINGE	Fringe Benefits Unallocated
169B		Separation Allowance - Law Enforcement
170B		Separation Allowance - Other Employees
171B		Supplemental Retirement - Law Enforcement	38,469	32,825	20,678	13,180	12,017	15,084
172B		Fringe Benefits Other
173A	INTERGOV	Multi-Cnty Libr Dis,Cnty,Or Other - Recipient
173B	EXPEND	Multi-Cnty Libr Dis,Cnty,Or Other - Item #
173C		Multi-Cnty Libr Dis,Cnty,Or Other - Amount
174A		Gen Gov Activities Shared W/ Cnty - Recipient
174B		Gen Gov Activities Shared W/ Cnty - Item #
174C		Gen Gov Activities Shared W/ Cnty - Amount
175A		Highways (Payments to State) - Recipient
175B		Highways (Payments to State) - Item No.
175C		Highways (Payments to State) - Amount
176A		Other - Intergovt. Expenditures - Recipient
176B		Other - Intergovt. Expenditures - Item #
176C		Other - Intergovt. Expenditures - Amount
177A		Other - Intergovt. Expenditures - Recipient
177B		Other - Intergovt. Expenditures - Item #
177C		Other - Intergovt. Expenditures - Amount
178A		Other - Intergovt. Expenditures - Recipient
178B		Other - Intergovt. Expenditures - Item #
178C		Other - Intergovt. Expenditures - Amount
179.0		Current year's levy -- Excluding motor vehicles	865,765.	836,569.00	735,750.00	721,124.00	514,142.00	448,327.00
180.0		Current year's levy -- Motor vehicles (only)	48,224.	30,792.00	25,730.00	31,198.00	31,040.00	28,425.00
181.0	PART 6	Uncollected Taxes - Current Year's Levy Except Mot Veh	23,309.	21,088.00	2,082.00	1,243.00	325.00	1,699.00
182.0	OTHER	Uncollected Taxes - CY Levy -Motor Vehicles	12,487	7,982	520	297	5,108	2,652
183.0	DATA	Percentage of Taxes Collected - All Property %	96.08	96.65	99.66	99.80	99.00	99.09
184.0	DATA	Percentage of Taxes Collected - Exclude Motor Vehicles%	97.31	97.48	99.72	99.83	99.94	99.62
185.0		Percentage of Taxes Collected - Motor Vehicles %	74.11	74.08	97.98	99.05	83.54	90.67
186.0		Ttl Amt Salaries/Wages for Construction
187A		Capital Reserve Schools - July 1, 2009
187B		Capital Reserve Schools - June 30, 2010
188A		Capital Reserve Hospitals - July 1, 2009
188B		Capital Reserve Hospitals - June 30, 2010
189A	PART 7	Cash On Hand & in Bank - Debt Service
189B	CASH &	Cash On Hand & in Bank - Construction Bond
189C	INVEST	Cash On Hand & in Bank - All Other	1,637,390	1,466,041	2,015,425	1,600,301	1,668,667	1,924,041
190A	PART	Appropriations Made During FY - B(1) - B(7)
190B	8	Expenditures Made During FY - B(1) - B(7)
191.0		Investment in Property - B(1) - B(4)
192.0		Amount Expended During FY - B(5) and B(7)
193.0		Amount of Tax Revenues Taken Into Account
194A	PART 9	Amount - Total Revenues	2,354,914	2,890,828	3,662,148	3,243,960	5,593,065	2,576,785
194B	FISCAL	Amount - Subtract Refunding Bond Proceeds					865,000
194C	SUMMARY	Amount - Subtract Interfund Transfers In	137,596	350,621	1,092,393	261,595	1,553,565	195,773
194D		Amount - Net Revenues	2,217,318	2,540,207	2,569,755	2,982,365	3,174,500	2,381,012
		Calculated amount	2,217,318	2,540,207	2,569,755	2,982,365	3,174,500	2,381,012
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference
195A		Amount - Total Expenditures	2,188,455	3,261,250	3,451,122	3,324,870	5,728,768	2,161,437
195B		Amount - Subtract Pymts. to Refunded Debt Agent					820,500
195C		Amount - Subtract Interfund Transfers Out	137,596	350,621	1,092,393	261,595	1,553,565	195,773
195D		Amount - Net Expenditures	2,050,859	2,910,629	2,358,729	3,063,275	3,354,703	1,965,664
		Calculated amount	2,050,859	2,910,629	2,358,729	3,063,275	3,354,703	1,965,664
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference

401A	Part 10	Number of residential accounts billed Water
401B	Water /	Number of residential accounts billed Sewer
402A	Sewer	Amount processed and/or purchased in units Water
402B	Operations	Amount processed and/or purchased in units Sewer
403A		Total amount billed in units - Water
403B		Total amount billed in units - Sewer
404A		Of the total in 403A above how many units were Residential W
404B		Of the total in 403B above how many units were Residential S
405A		Of the total in 403 above, how many units were Outside Muni W
405B		Of the total in 403 above, how many units were Outside Muni S
406A		Of the total in 405A above how many units were Residential W
406B		Of the total in 405B above how many units were Residential S
407A		Of the total in 403A, how many units were sold for redistribution
407B		Of the total in 403B how many unit were delivered in bulk	216,468
408A		Dollars related to 403A above	385,454
408B		Dollars related to 403B above
409A		Dollars related to 404A above
409B		Dollars related to 404B above
410A		Dollars related to 405A above
410B		Dollars related to 405B above
411A		Dollars related to 406A above
411B		Dollars related to 406B above
412A		Dollars related to 407A above
412B		Dollars related to 407B above	480
421A		Number of residential accounts billed - Water	446
421B		Number of residential accounts billed - Sewer	89
422A		Number of non-residential & bulk accounts billed - Water	89
422B		Number of non-residential & bulk accounts billed - Sewer	2	2	2	2	2	2
423A		Estimated percentage of accounts outside of municipal limits



950.0		Official	Steve Smith
951.0		Title	Finance Officer
952.0		Date	01/20/2011	01/00/1900	01/00/1900	01/30/2008	10/25/2006	12/05/2005
953.0		Contact	Steve Smith
954.0		Title	Finance Officer
955.0		Phone	828-898-5398
956.0		Fax	828-898-4568
957.0		E-Mail:

Go to top of page Key Ratios and Operations Statistics of Water and Sewer Systems for
Town of Banner Elk

	2010	2009	2008	2007	2006	2005

Population	972	1,046	982	1,020	979	1,035
Population Group	No Electric 500 to 999	No Electric 1,000 to 2,499	No Electric 500 to 999	No Electric 1,000 to 2,499	No Electric 500 to 999	No Electric 1,000 to 2,499
Total Operating Revenues	$664,960	676,679	635,804	894,662	843,806	901,636
Total Operating Revenues Per Capita	$684	647	647	877	862	871
Group Weighted Average Revenues Per Capita	326	321	310	302	244	280
State Weighted Average Revenues Per Capita	306	290	293	293	286	262

% to Total Operating Revenues
Operating Expenses	101.46%	131.32%	139.76%	94.41%	82.54%	56.34%
Group Weighted Average	109.00%	106.58%	110.37%	106.56%	111.68%	102.64%
State Weighted Average	83.80%	88.94%	85.72%	81.18%	80.03%	84.59%

Operating Margin	-1.46%	-31.32%	-39.76%	5.59%	17.46%	43.66%
Group Weighted Average	-9.00%	-6.58%	-10.37%	-6.56%	-11.68%	-2.64%
State Weighted Average	16.20%	11.06%	14.28%	18.82%	19.97%	15.41%

Operating Transfers In	0.00%	11.25%	0.00%	0.00%	0.00%	15.89%
Group Weighted Average	5.60%	5.97%	5.21%	3.13%	7.58%	4.67%
State Weighted Average	1.47%	1.12%	1.21%	1.12%	1.45%	1.59%

Operating Transfers Out	0.00%	0.00%	2.61%	0.00%	10.25%	0.00%
Group Weighted Average	0.54%	6.71%	0.84%	2.63%	4.97%	0.66%
State Weighted Average	1.66%	2.70%	3.12%	1.85%	2.76%	2.79%

Net Income before capital contributions	-5.11%	-9.79%	-37.12%	5.34%	8.50%	52.22%
Group Weighted Average	19.74%	-25.58%	1.16%	12.88%	36.49%	16.11%
State Weighted Average	12.99%	-9.68%	14.10%	18.23%	15.30%	15.64%

Key Ratios and Cash Flow

Quick Ratio	3.38	1.84	4.79	4.35	7.85	9.22
Group Weighted Average	3.52	3.10	2.99	3.25	3.48	3.48
State Weighted Average	3.20	2.81	2.96	2.90	2.82	1.82

Days Sales in Receivables	8.0	53.5	29.3	26.4	23.3	20.6
Group Weighted Average	62.8	44.7	48.5	48.8	48.3	43.8
State Weighted Average	58.8	58.6	56.1	60.7	58.1	60.0

Days Cash on Hand	145.2	31.8	248.8	375.2	467.8	1,023.3
Group Weighted Average	544.4	414.6	514.1	624.7	522.1	496.4
State Weighted Average	526.9	479.1	507.5	565.1	514.1	479.7

Cash flow from Operations	$211,394	-30,907	-30,478	270,552	325,603	539,366

Debt to Equity	0.16	0.17	0.18	0.20	0.22	0.29
Group Weighted Average	0.11	0.26	0.12	0.27	0.14	0.27
State Weighted Average	0.60	0.56	0.57	0.55	0.52	0.54

Debt per Capita	636	639	750	848	913	872
Group Weighted Average	303	501	332	482	311	500
State Weighted Average	997	927	932	886	798	753

Capital Expenditures:	2010	2009	2008	2007	2006	2005
	$0	0	0	0	0	0

	2004	2003	2002	2001
	$58,796	23,551	79,759	30,887

Capital Contributions: Excluded from income above	$0	0	0	226,717	854,294	0


Operating Statistics

Estimated population of the areas served Water	0	0	0	0	NA	NA
Estimated population of the areas served Sewer	0	0	0	0	NA	NA

Number of Gallons of Water Processed (000) omitted	0	0	0	0	NA	NA
Number of Gallons of Sewage Processed (000) omitted	0	0	0	0	NA	NA

Number of Gallons of Water Billed (000) omitted	0	0	0	0	NA	NA
Number of Gallons of Sewage Billed (000) omitted	0	0	0	0	NA	NA

Ratio of Water Billed to Water Processed					NA	NA
Ratio of Sewage Billed to Sewage Processed					NA	NA

Total Revenue from Water Sales	216,468	0	0	0	NA	NA
Total Revenue from Sewage Sales	385,454	0	0	0	NA	NA

Water Revenue per 1000 gallons of Sales					NA	NA
Sewage Revenue per 1000 gallons of Sales					NA	NA

Group Average Sales per thousand Gallons Water	$25.53413	$27.87923	$12,972.02948	$14,046.04813	NA	NA
Group Average Sales per thousand Gallons Sewage	$40.97199	$34.82867	$11,463.64343	$7,762.65881	NA	NA

State Average Sales per thousand Gallons Water	$25.53413	$28.47236	$12,972.02948	$5,350.70834	NA	NA
State Average Sales per thousand Gallons Sewage	$40.97199	$44.63671	$11,463.64343	$3,991.93085	NA	NA

Residential Water Sales per thousand Gallons					NA	NA
Residential Sewage Sales per thousand Gallons					NA	NA

Water Sales per thousand Gallons outside Municipal Limits					NA	NA
Sewage Sales per thousand Gallons outside Municipal Limits					NA	NA

Total Water Sales per thousand gallons for Redistribution	$0.00000	0.00000	0.00000	0.00000	NA	NA
Total Sewage Sales per thousand gallons for Redistribution	$0.00000	0.00000	0.00000	0.00000	NA	NA

Financial Graphs and Comparisons

Analysis of Available Fund Balance: General Fund
Analysis of Property Tax Collection %
Analysis of General Obligation Debt
Analysis of Revenue (5 years)
Analyis of Revenue (most recent fiscal year)
Analysis of Expenditures by Function
Analysis of Expenditures by Object

Go to top of page

Analysis of Available Fund Balance: General Fund

	2006	2007	2008	2009	2010
Unit's FBA %	77.84%	70.38%	25.16%	27.49%	31.76%
Group average FBA %	101.57%	65.48%	88.22%	66.05%	100.22%
State average Electric/Non Electric Group FBA %	37.38%	37.39%	36.65%	37.89%	39.13%
State average FBA %	36.96%	36.54%	101.57%	37.09%	37.79%

Municipal Population Group: No Electric 1,000 to 2,499

Go to top of page

2006 2007 2008 2009 2010

Municipality 99.00% 99.80% 99.66% 96.65% 96.08%

Pop. Group 95.56% 97.18% 96.16% 95.99% 95.98%

Statewide 97.55% 97.58% 97.56% 97.36% 97.61%

Municipal Population Group: No Electric 1,000 to 2,499

	2006	2007	2008	2009	2010
Municipality	99.00%	99.80%	99.66%	96.65%	96.08%
Pop. Group	95.56%	97.18%	96.16%	95.99%	95.98%
Statewide	97.55%	97.58%	97.56%	97.36%	97.61%

Municipal Population Group: No Electric 1,000 to 2,499

Go to top of page

2006 2007 2008 2009 2010

Municipality 826 749 730 639 636

Pop. Group 223 294 215 265 193

Statewide 495 478 456 455 449

Municipal Population Group: 1,000 to 2,499

	2006	2007	2008	2009	2010
Municipality	826	749	730	639	636
Pop. Group	223	294	215	265	193
Statewide	495	478	456	455	449

Municipal Population Group: 1,000 to 2,499

Go to top of page

2006 2007 2008 2009 2010

Property Tax $553 742 782 846 932

Utility 862 877 647 647 675

Sales Tax 274 290 316 239 219

Sales & Services 104 100 106 115 27

Intergovernmental 1,117 559 402 226 247

Debt Proceeds 49 104 93 224 81

Other Miscellaneous 284 252 271 131 100

Total $3,243 2,924 2,617 2,428 2,281

	2006	2007	2008	2009	2010
Property Tax	$553	742	782	846	932
Utility	862	877	647	647	675
Sales Tax	274	290	316	239	219
Sales & Services	104	100	106	115	27
Intergovernmental	1,117	559	402	226	247
Debt Proceeds	49	104	93	224	81
Other Miscellaneous	284	252	271	131	100
Total	$3,243	2,924	2,617	2,428	2,281

Go to top of page

2010
2010

Category Revenue
Per Capita

Property Tax $905,631
$932

Water/Sewer 0
0

Electric 656,433
675

Other Utilities 0
0

Sales Tax 213,645
219

Sales & Services 26,000
27

Intergovernment 240,192
247

Debt Proceeds 78,653
81

Miscellaneous 96,764
100

Total $2,217,318
$2,281

Municipal Population Group: No Electric 1,000 to 2,499

Go to top of page

2010
2010

Category Expenditures
Per Capita

General Government $369,706
$382

Water/Sewer 0
0

Electric 456,807
470

Other Utilities 0
0

Debt Service 91,846
94

Transportation 205,569
211

Public Safety 736,188
757

Other 190,743
196

Total $2,050,859
$2,110

Municipal Population Group: No Electric 1,000 to 2,499

Go to top of page

2010
2010

Category Expenditures
Per Capita

Salaries & Wages $914,158
$940

Water/Sewer Capital 0
0

Electric Capital 32,838
34

Other Capital 141,267
145

Other Operating 962,596
991

Total $2,050,859
$2,110

Municipal Population Group: No Electric 1,000 to 2,499

Last Updated 5/4/2011 8:12:04 PM



	2010	2010
Category	Revenue	Per Capita
Property Tax	$905,631	$932
Water/Sewer	0	0
Electric	656,433	675
Other Utilities	0	0
Sales Tax	213,645	219
Sales & Services	26,000	27
Intergovernment	240,192	247
Debt Proceeds	78,653	81
Miscellaneous	96,764	100
Total	$2,217,318	$2,281

Municipal Population Group: No Electric 1,000 to 2,499

North CarolinaDepartment of State TreasurerFinancial InformationTown of Banner Elk

Financial Graphs and Comparisons

North Carolina
Department of State Treasurer
Financial Information
Town of Banner Elk