North Carolina
Department of State Treasurer
Financial Information
City of Boiling Spring Lakes

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

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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			2008	2007	2006	2005	2004	2003
	Revenues by Source
		Property Tax	$810,519	728,307	674,983	613,642	580,250	484,731
		Utility	772,754	1,034,772	266,254	-	-	-
		Sales Tax	967,615	979,226	886,279	790,247	694,524	576,377
		Sales & Services	173,500	138,160	154,876	102,039	37,700	10,162
		Intergovernmental	606,745	495,149	521,972	433,683	370,580	384,147
		Debt Proceeds	1,905,030	52,787	58,668	1,000,000	194,107	58,331
		Other Miscellaneous	399,455	494,632	429,739	269,079	178,104	148,831
		Total	$5,635,618	3,923,033	2,992,771	3,208,690	2,055,265	1,662,579

	Expenditures by Function
		Utility	$680,036	538,258	315,443	61,204	-	186,083
		Debt Service	478,782	418,424	352,689	91,650	124,602	116,350
		Transportation	819,559	891,738	1,734,824	538,973	629,823	511,328
		General Government	1,696,321	769,966	501,265	558,016	530,921	631,972
		Public Safety	682,851	719,391	668,521	388,634	367,268	369,612
		Other	408,374	377,495	274,615	233,286	181,931	37,696
		Total	$4,765,923	3,715,272	3,847,357	1,871,763	1,834,545	1,853,041

	Expenditures by Object
		Salaries & Wages	$1,195,624	1,066,611	906,094	738,208	666,897	613,260
		Capital Outlay	1,332,381	489,997	863,275	94,807	252,065	285,011
		Other Operating + Debt Service	2,237,918	2,158,664	2,077,988	1,038,748	915,583	954,770
		Total	$4,765,923	3,715,272	3,847,357	1,871,763	1,834,545	1,853,041


	Per Capita Revenues by Source
		Property Tax	$197	183	179	171	169	147
		Utility	188	260	71	-	-	-
		Sales Tax	236	246	234	221	203	174
		Sales & Services	42	35	41	29	11	3
		Intergovernmental	147	124	139	121	108	116
		Debt Proceeds	463	13	16	279	57	18
		Other Miscellaneous	97	124	114	75	52	45
		Total	$1,370	985	794	896	600	503

	Per Capita Expenditures by Function
		Utility	$165	135	84	17	-	56
		Debt Service	116	105	94	26	36	35
		Transportation	199	224	461	151	184	155
		General Government	413	193	132	155	155	191
		Public Safety	166	181	177	109	107	112
		Other	99	95	73	65	53	11
		Total	$1,158	933	1,021	523	535	560

	Per Capita Expenditures by Object
		Salaries & Wages	$291	268	241	206	195	185
		Capital Outlay	324	123	229	26	74	86
		Other Operating	543	542	551	291	266	289
		Total	$1,158	933	1,021	523	535	560

	Population Group		No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999
		Number of Municipalites in Group	119	121	119	116	114	111
		Average Population In Group	4,702	4,808	4,820	4,759	4,871	4,838
		City of Boiling Spring Lakes Population	4,115	3,983	3,767	3,580	3,427	3,307
	Group Average Per Capita Revenues by Source
		Property Tax	339	312	306	296	284	282
		Utility	315	316	326	307	292	279
		Sales Tax	160	158	154	146	140	120
		Sales & Services	81	79	74	70	68	67
		Intergovernmental	182	176	160	165	184	179
		Debt Proceeds	174	109	95	65	77	69
		Other Miscellaneous	126	161	126	110	97	132
		Total	1,377	1,311	1,241	1,159	1,142	1,128

	Group Average Per Capita Expenditures by Function
		Utility	377	334	305	290	305	298
		Debt Service	103	97	98	101	104	97
		Transportation	112	112	112	105	100	90
		General Government	170	160	156	154	159	136
		Public Safety	322	312	280	268	261	249
		Other	233	237	209	218	199	214
		Total	1,317	1,252	1,160	1,136	1,128	1,084

	Group Average Per Capita Expenditures by Object
		Salaries & Wages	421	408	390	385	359	354
		Capital Outlay	284	254	205	179	208	172
		Other Operating	612	590	565	572	561	558
		Total	1,317	1,252	1,160	1,136	1,128	1,084


General Fund Go to top of page			2008	2007	2006	2005	2004	2003
	General Fund revenues		$2,781,296	2,698,172	2,575,443	2,208,690	1,846,134	1,588,131
	General Fund expenditures		3,054,371	3,000,959	3,412,448	1,810,559	1,792,259	1,445,344
	Operating transfers in		-	-	-	233,025	-	15,976
	Operating transfers out		259,186	-	-	80,000	37,802	-
	Capital leases and installment purchase proceeds		286,084	52,787	58,668	1,000,000	194,107	22,260
	Other items		-	-	-	-	-	20,095
	Excess of revenues and other sources over (under) expenditures and other uses		(246,177)	(250,000)	(778,337)	1,551,156	210,180	201,118

	Fund balance available (FBA):
		In dollars	$1,549,483	1,581,713	2,047,152	3,199,141	1,601,683	1,451,090
		FBA as a % of GF Net Expenditures:
		Unit's FBA %	51.18	53.65	61.04	359.23	97.91	101.97
		Group weighted average FBA %	65.07	64.31	62.33	62.22	61.38	60.00
		State weighted average Non-Electric Group	36.47	37.14	36.51	36.90	36.42	36.42
		State weighted average FBA %	36.20	36.37	36.31	36.76	36.35	36.06


Enterprise Funds: Go to top of page
	Water/Sewer

	Combined financial results:
		Working capital	$429,464	68,914	411,023	2,153,071	2,088,112	-
		Quick ratio	1.91	1.11	1.79	93.15	0.00	0.00
		Net income	317,192	91,260	900,692	(104,769)	2,030,740	0
		Cashflow from operations	219,553	204,101	(87,057)	(34,413)	0	0
		Depreciation & Amortization Expense	126,920	117,422	99,621	1,068	0	0



Cash, Investments and Financing Go to top of page			2008	2007	2006	2005	2004	2003

		Population at July 1st of the Previous Year	4,115	3,983	3,767	3,580	3,427	3,307
		Population Group	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999
		Cash &Investments	$2,252,104	5,079,488	2,302,948	3,307,777	1,668,021	1,570,207
		Investment Earnings	204,650	224,902	165,339	58,184	8,260	14,852
		Tax Rate Equivalent	0.0312	0.0772	0.0632	0.0240	0.0036	0.0075
		Tax Rate Equivalent Group weighted average	0.0296	0.0439	0.0322	0.0212	0.0115	0.0166
		Tax Rate Equivalent Statewide weighted average	0.0524	0.0920	0.0573	0.0415	0.0340	0.0332
		Latest year of Revaluation	2007	2003	2003	2003	2003	1999
		January 1, Prior Year Assessed Valuation	$655,701,962	291,153,429	261,575,433	242,556,106	231,087,122	197,807,257
		Tax Rate	0.1200	0.2500	0.2500	0.2500	0.2500	0.2500
		Tax Rate Group weighted average	0.2682	0.3126	0.3191	0.3626	0.3759	0.3833
		Tax Rate State Wide	0.4254	0.4455	0.4321	0.4448	0.4566	0.4594
		Assessment -to-Sales Ratio	99.29	62.50	80.00	87.38	100.00	81.22
		Assessment -to-Sales Ratio Group weighted average	90.92	83.47	91.52	85.31	89.22	88.07
		Assessment -to-Sales Ratio Statewide	88.52	88.41	92.28	92.35	92.18	89.54
		Assessed Valuation Adjusted for Assesment to Sales Ratio	$660,390,736	465,845,486	326,969,291	277,587,670	231,087,122	243,545,010
		EffectiveTax Rate	0.1191	0.1563	0.2000	0.2185	0.2500	0.2031
		Group weighted average Effective Tax Rate	0.2438	0.2610	0.2921	0.3093	0.3354	0.3376
		Statewide weighted average Effective Tax Rate	0.3765	0.3939	0.3987	0.4108	0.4209	0.4113
		Percent Collected	95.80	95.07	95.57	95.87	95.47	93.51
		Percent Collected Group weighted average	97.46	96.76	96.72	96.85	96.72	96.35
		Percent Collected Statewide	97.97	97.59	97.55	97.42	97.31	96.96
		Percent Collected Excluding Motor Vehicles	96.70	96.98	97.27	97.55	97.17	96.31
		Percent Collected Excluding Motor Vehicles Group weighted average	98.08	98.00	98.08	97.96	97.91	97.84
		Percent Collected Excluding Motor Vehicles Statewide weighted average	98.66	98.59	98.61	98.36	98.26	98.31
		Percent Collected Motor Vehicles Only	86.15	82.71	84.51	83.71	82.68	74.40
		Percent Collected Motor Vehicles Only Group weighted average	85.75	86.04	86.22	85.87	85.76	84.39
		Percent Collected Motor Vehicles Only Statewide weighted average	86.74	86.71	86.80	87.31	87.62	86.69
		Tax Uncollected	9,551	35,937	29,270	25,161	26,211	32,145
		Tax Rate Equivalent	0.0015	0.0123	0.0112	0.0104	0.0113	0.0163
		Dominant County: Brunswick
	Debt Information
		Population Group	2,500 to 4,999	2,500 to 4,999	2,500 to 4,999	2,500 to 4,999	2,500 to 4,999	2,500 to 4,999
		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	$4,450,000	4,500,000	4,500,000	4,500,000	4,500,000	0
		General Government GO Debt	0	0	0	0	0	0
		Total General Obligation Debt	4,450,000	4,500,000	4,500,000	4,500,000	4,500,000	0
		Per Capita	$1,081	1,130	1,195	1,257	1,313	0
		Total Per Capita for the Population Group	152	149	162	162	159	#N/A
		Total Per Capita Statewide	456	478	495	505	548	#N/A
		Total per Assessed Valuation Adjusted for Current Year Sales	0.6738%	0.9660%	1.3763%	1.6211%	1.9473%	0.0000%
		Total per Assessed Valuation Adjusted for Current Year Sales- Group Average	0.1101%	0.1223%	0.1565%	0.1724%	0.1878%	#N/A
		Total per Assessed Valuation Adjusted for Current Year Sales - Statewide	0.4131%	0.4706%	0.5275%	0.5588%	0.6442%	#N/A
		Total Authorized but not Issued General Obligation Debt

		Installment Sales Purchases and Lease Obligations
		--Enterprise	$0	0	0	0	0	0
		--General Government	2,300,000	800,000	900,000	1,000,000	0	70,344
		Total*	$2,300,000	800,000	900,000	1,000,000	0	70,344
		* 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	2008	2007	2006	2005	2004	2003
	Population at July 1st of the Previous Year Adjusted for Boundry Changes		4,115	3,983	3,767	3,580	3,427	3,307

1A	Non GASB34	General Fund Assets						1,815,875
1B	FISCAL	General Fund Liabilities						194,924
2A	SUMMARY	Debt-service Assets
2B		Debt service Liabilities
3A		Enterprise Assets
3B		Enterprise Liabilities
4A		Internal Service Assets
4B		Internal service Liabilities
5A		Special Revenue Assets
1.5A	GASB34	Governmental Activities Assets	5,982,370	4,278,993	4,359,796	4,509,135	2,558,422
1.5B	FISCAL	Governmental Activities Liabilities	2,828,904	1,060,592	1,194,501	1,371,369	704,320
3.5A	SUMMARY	Business Type Activities Assets	8,029,095	7,732,232	7,780,271	6,845,758	6,932,348
3.5B		Business Type Activities Liabilties	4,534,794	4,555,124	4,694,422	4,660,601	4,642,422
6.5A		Fiduciary Funds Assets
6.5B		Fiduciary Funds Liabilties
5B		Special Revenue Liabilities
6A		Trust & Agency Assets
6B		Trust & Agency Liabilities
7A		Capital Project Assets						24,914
7B		Capital Project Liabilities						27,962
8A		General Fixed Assets						1,510,791
9B		General Long term debt - Liabilities						244,615
10	PART 2	Current collections of unit-wide levy	771,408	692,938	630,108	593,359	565,586	464,180
11	TAX	Current collection of special tax districts
12	REVENUES	Prior years' levy collections	31,706	27,299	34,136	14,900	9,085	15,945
13		Penalties and interest	7,405	8,070	10,739	5,383	5,579	4,606
14		Collection of taxes previously written off
15		Animal tax	1,690	1,391	1,110	1,328	1,468	1,088
16		1% Local government sales and use tax	425,961	403,240	385,727	395,123	347,262	284,788
17		1/2% Local government sales and use taxes (Article 40)	202,372	197,509	168,656	197,562	173,631	145,795
18		1/2% Local government sales and use taxes (Article 42)	200,202	195,269	166,823	197,562	173,631	145,794
18.5		1/2% Local government sales and use taxes (Article 44)	139,080	183,208	165,073
19		Licenses Privilege					2,910	2,836
19.1		Privilege - Occupational & business licensing & permit taxes	5,529	4,534	3,179	3,353
19.2		Privilege -- All other privileges and pemits
20		General Municipal Vehicle Tax
21		Vehicle Tax for Public Transportation
22		Other licenses - Include CATV	5,456	45,721	24,386	21,016	18,133
23		Local occupancy tax
24		Prepared food tax
25		911 charges
26		Gross Receipts Tax on Short Term Vehicles Leases
27	FEDERAL	FEDERAL Payment in lieu of taxes
28	INTERGOV	Equitable sharing of Federally forfeited property
29	REVENUES	General government
30		Public safety
31		Transportation - Streets
32		Transportation - All other
33		Utility franchise tax			31,625
34		Housing/community development
35		All Other
36		Human services: Health, mental health, hospitals
37		All other
38		Culture and recreation
39	STATE	State Payment in Lieu of Taxes
40	INTERGOV	Controlled substance tax
41	REVENUES	Intangibles tax reimbursement + Transistional Hold Harmless Revenues
42		Wireless Enhanced 911 Service Charges
43		Piped Natural Gas Charge Distribution
44		Utility franchise tax	190,870	149,380	125,922	109,547	101,549	117,129
45		Beer and Wine tax	18,347	17,022	15,813	15,169	14,203
46		Powell Bill	314,224	276,582	277,062	275,387	247,154	267,018
47		Food stamp purchases tax reimbursement
48		Inventories tax reimbursements
49		Senior Citizens Exemption - 50%
50		Court fees - Facilities and arrest fees
51		General Government
52		Public safety	29,334	52,165	71,550
53		Transportation - Streets
54		Transportation - All other
55		Environmental protection	53,970
56		Econ. & Phys. Dev. - Housing/Comm. Dev.
57		Econ. & Phys. Dev. - All Other
58		Human Services: Health, mental health, hospitals
59		All Other
60		Culture and recreation
61	LOCAL	LOCAL Payment in lieu of taxes
62	INTERGOV	General government
63	REVENUES	Public safety				33,580	7,674
64		Transportatin - Streets
65		Transportation - All other
66		Environmental protection
67		Economic and physical development
68		Human Services: Health, Mental Health & Hosp
69		Human Services: All Other
70		Culture and recreation
71	PERMITS	Building permits	88,717	96,304	157,936	154,509	91,891	58,981
72	& FEES	Inspection fees
72.1		Amusements licensing and permit taxes
73		Other permits	63,750	79,750	43,500
74	SALES &	Parking revenues
75	SERVICES	Rents and royalties	17,705	11,379	11,048	10,726	24,327	10,162
76		Airport
77		Fire protection charges
78		Solid waste
79		Ambulance and rescue squad charges
80		Cemeteries
81		Recreation service revenues	92,871	82,914	64,075	36,234
82		Library service revenues
83		Other cultural and recreational service revenues
84		Mass transit - city operated
85		Other sales and services	62,924	43,867	79,753	55,079	13,373
86	UTILITY	Water and sewer charges	772,754	1,034,772	266,254
87	REVENUES	Electric charges
88		Gas charges
88.1		Storm Water Fees
89	MISC.	On bond proceeds					15,024
90	REVENUES	On general and all other funds	204,650	224,902	165,339	58,184	8,260	14,852
91		Special assessments
92		Private contribution and donations						13,569
93		Sales of materials and fixed assets	5,166	17,803	7,454	4,559		6,000
94		Sales of real property
95		Nongovernment contributions for streets and traffic signals
96		Mixed drink surcharge
97		ABC profit distribution	24,497	24,227	26,835	26,130	11,645	13,255
98		Other miscellaneous revenues					705	38,250
99		Proceeds of the sale of bonds and notes
100		Proceeds of capital leases and installment purchases	1,905,030	52,787	58,668	1,000,000	194,107	58,331
101		Other					28,068
102	NON-REV	Supplemental schools taxes - current levy collections
103	RECEIPTS	Prior years' levy collections
104		Tax collections for units other than reporting unit
105		Utilities customers' deposits	7,679
106		Deposits other than utility
107		Prepaid taxes	1,002
108		Prepaid privilege licenses
109A	PART 4	Governing body - Salaries	5,900	5,100	5,100	5,250	5,100	3,600
109B	GENERAL	Governing body - All other Direct	47,698	42,140	33,536	30,805	31,334	28,613
109C	GOVT	Governing body - Construction
109D		Governing body - Land, Equipment and Existing Structures
110A		Administration - Salaries	264,860	221,101	204,403	156,231	174,881	169,866
110B		Administration - All other Direct	373,122	302,203	204,438	183,727	190,558	177,827
110C		Administration - Construction	786,315
110D		Administration - Land, Equipment and Existing Structures	47,321	2,032	7,360	1,267		13,556
111A		Elections (cost of) - Salaries
111B		Elections (cost of) - All other Direct			98		1,459	570
111C		Elections (cost of) - Construction
111D		Elections (cost of) - Land, Equipment and Existing Structures
112A		Finance - Salaries
112B		Finance - All other Direct
112C		Finance - Construction
112D		Finance - Land, Equipment. and Existing Structures
113A		Taxes - Salaries
113B		Taxes - All other Direct
113C		Taxes - Construction
113D		Taxes - Land, Equipment, and Existing Structures
114A		Legal - Salaries
114B		Legal - All other Direct
114C		Legal - Construction
114D		Legal - Land, Equipment, and Existing Structures
115A		Public Buildings - Salaries	62,506	54,560
115B		Public Buildings - All other Direct	63,786	124,574	37,977	55,582	22,098	15,917
115C		Public Buildings - Construction
115D		Public Buildings - Land, Equipment, and Existing Structures	42,567					221,614
116A		Court Facilities - Salaries
116B		Court Facilities - All other Direct
116C		Court Facilities - Construction
116D		Court Facilities - Land, Equipment, and Existing Structures
117A		Central Facilites - Salaries
117B		Central Facilities - All other Direct
117C		Central Facilites - Construction
117D		Central Facilites - Land, Equipment, and Existing Structures
118A		General Government All Other - Salaries				83,838	70,671
118B		General Government All Other - All other Direct	2,246	18,256	8,353	41,316	34,820	409
118C		General Government All Other - Construction
118D		General Government All Other - Land, Equipment, and Existing Structures
119A	PUBLIC	Police and Communications - Salaries	329,735	296,325	256,460	222,298	205,101	183,953
119B	SAFETY	Police and Communications - All other Direct	171,756	177,832	137,664	140,669	114,809	74,885
119C		Police and Communications - Construction
119D		Police and Communications - Land, Equipment and Existing Structures	18,385	37,061	68,271	17,721	33,940	4,754
120A		Emergency Communications - Salaries
120B		Emergency Communications - All other Direct
120C		Emergency Communications - Construction
120D		Emergency Communications - Land, Equipment and Existing Structures
121A		Emergency Management - Salaries
121B		Emergency Management - All other Direct
121C		Emergency Managment - Construction
121D		Emergency Management - Land, Equipment, and Existing Structures
122A		Fire - Salaries
122B		Fire - All other Direct
122C		Fire - Construction
122D		Fire - Land, Equipment, and Existing Structures
123A		Inspectors - Salaries	95,583	131,705	84,024			51,712
123B		Inspectors - All other Direct	44,122	62,806	46,586			19,971
123C		Inspectors - Construction
123D		Inspectors - Land, Equipment, and Existing Structures			13,050			14,214
124A		Rescue Units - Salaries
124B		Rescue Units - All other Direct
124C		Rescue Units - Construction
124D		Rescue Units - Land, Equipment, and Existing Structures
125A		Animal Control - Salaries			17,961	1,069	3,447	7,628
125B		Animal Control - All other Direct			11,737	1,737	5,463	1,265
125C		Animal Control - Construction
125D		Animal Control - Land, Equipment, and Existing Structures
126A		Public Safety All Other - Salaries
126B		Public Safety All Other - All other Direct
126C		Public Safety All Other - Construction
126D		Public Safety All Other - Land, Equipment, and Existing Structures
127A	TRANSPOR	Traffic Engineering - Salaries
127B	TATION	Traffic Engineering - All other Direct
127C		Traffic Engineering - Construction
127D		Traffic Engineering - Land, Equipment, and Existing Structures
128A		Streets and Highways - Salaries	211,048	197,949	220,921	195,988	204,134	194,044
128B		Streets and Highways - All other Direct	368,030	445,440	753,057	134,777	82,905	57,443
128C		Streets and Highways - Construction
128D		Streets and Highways - Land, Equipment and Existing Structures	240,481	248,349	760,846	62,724	102,699	22,983
129A		Street Cleaning - Salaries
129B		Street Cleaning - All other Direct
129C		Street Cleaning - Construction
129D		Street Cleaning - Land, Equipment, and Existing Structures
130A		State Street Aid Allocation - Powell Bill - Salries
130B		State Street Aid Allocation - Powell Bill - All other Direct				145,484	162,461	236,858
130C		State Street Aid Allocation - Powell Bill - Construction
130D		State Street Aid Allocation - Powell Bill - Land, Equipment, and Existing Structures					77,624
131A		Parking Facilities - Salaries
131B		Parking Facilities - All other Direct
131C		Parking Facilities - Construction
131D		Parking Facilites - Land, Equipment, and Existing Structures
132A		Mass Transit - City - Salaries
132B		Mass Transit - City - All other Direct
132C		Mass Transit - City - Construction
132D		Mass Transit - City - Land, Equipment, and Existing Structures
133B		Mass Transit - Private - All other Direct only
134A		Airport - Salaries
134B		Airport - All other Direct
134C		Airport - Construction
134D		Airport - Land, Equipment, and Existing Structures
135A		Transportation - All Other - Salaries
135B		Transportation - All Other - All other Direct
135C		Transportation - All Other - Construction
135D		Transportation - All Other - Land, Equipment, and Existing Structures
136A	ENVIRON	Solid Waste - Salaries
136B	MENTAL	Solid Waste - All other Direct	19,569	20,713	18,643	19,328	18,051	10,412
136C	PROTECTION	Solid Waste - Construction
136D		Solid Waste - Land, Equipment, and Existing Structures
137A		Drainage and Watershed - Salaries
137B		Drainage and Watershed - All other Direct
137C		Drainage and Watershed - Construction
137D		Drainage and Watershed - Land, Equipment, and Existing Structures
138A		Cemeteries - Salaries
138B		Cemeteries - All other Direct
138C		Cemeteries - Construction
138D		Cemeteries - Land, Equipment, and Existing Structures
139A		Environmental Protection - All Other - Salaries
139B		Environmental Protection - All Other - All other Direct	6,399	4,426	3,132	3,090	3,060	2,332
139C		Environmental Protection - All Other - Construction
139D		Environmental Protection All Other - Land, Equipment, and Existing Structures
140A	ECONOMIC	Planning and Zoning - Salaries
140B	& PHYSICAL	Planning and Zoning - All other Direct				3,600
140C	DEVELOP	Planning and Zoning - Construction
140D		Planning and Zoning - Land, Equipment, and Existing Structures
141A		Economic Development - Salaries
141B		Economic Development - All other Direct
141C		Economic Development - Construction
141D		Economic Development - Land, Equipment, and Existing Structures
142A		Community Development - Salaries
142B		Community Development - All other Direct
142C		Community Development - Construction
142D		Community Development - Land, Equipment, and Existing Structures
143A		Housing and Urban Renewal - Salaries
143B		Housing and Urban Renewal - All other Direct
143C		Housing and Urban Renewal - Construction
143D		Housing and Urban Renewal - Land, Equipment, and Existing Structures
144A		Special Employment Programs (JTPA) - Salaries
144B		Special Employment Programs (JTPA) - All other Direct
144C		Special Employment Programs (JTPA) - Construction
144D		Special Employment Programs (JTPA) - Land, Equipment, and Existing Structures
145A		Economic and Physical Development - All Other - Salaries [A]
145B		Economic and Physical Development - All Other - All other Direct
145C		Economic and Physical Development - All Other - Construction
145D		Economic and Physical Development - All Other - Land, Equipment, and Existing Structures
146A	HUMAN	Health - Salaries
146B	SERVICES	Health - All other Direct
146C		Health - Construction
146D		Health - Land, Equipment, and Existing Structures
147A		Mental Health - Salaries
147B		Mental Health - All other Direct
147C		Mental Health - Construction
147D		Mental Health - Land, Equipment, and Existing Structures
148A		Social Services - Salaries
148B		Social Services - All other Direct
148C		Social Services - Construction
148D		Social Services - Land, Equipment, and Existing Structures
149B		Subsidies Paid: Hospitals - City Owned - All other Direct
150B		Subsidies Paid: Hospitals - Private Owned - All other Direct
151A		Other Human Services: Legal Aid - Salaries
151B		Other Human Services: Legal Aid - All other Direct
151C		Other Human Services: Legal Aid - Construction
151D		Other Human Services: Legal Aid - Land, Equipment, and Existing Structures
152A		Human Services - All Other - Salaries
152B		Human Services - All Other - All other Direct
152C		Human Services - All Other - Construction
152D		Human Services - All Other - Land, Equipment, and Existing Structures
153A	CULTURE	Recreation and Parks - Salaries	105,873	90,807	76,361	55,741	3,563	2,457
153B	RECREATION	Recreation and Parks - All other Direct	276,533	217,850	162,731	143,927	119,455	12,412
153C		Recreation and Parks - Construction
153D		Recreation and Parks - Land, Equipment, and Existing Structures		43,699	13,748	7,600	37,802	7,890
154A		Coliseum - Salaries
154B		Coliseum - All other Direct
154C		Coliseum - Construction
154D		Coliseum - Land, Equipment, and Existing Structures
155A		Museums - Salaries
155B		Museums - All other Direct
155C		Museums - Construction
155D		Museums - Land, Equipment, and Existing Structures
156A		Libraries - Salaries
156B		Libraries - All other Direct
156C		Libraries - Construction
156D		Libraries - Land, Equipment, and Existing Structures
157A		Culture and Recreation - All Other - Salaries
157B		Human Services - All Other - All other Direct						2,193
157C		Human Services - All Other - Construction
157D		Human Services - All Other - Land, Equipment, and Existing Structures
158A	UTILITY	Water and Sewer - Salaries	120,119	69,064	40,864	17,793
158B		Water and Sewer - All other Direct	362,605	310,338	274,579	37,916		186,083
158C		Water and Sewer - Construction	30,362	111,427
158D		Water and Sewer - Land, Equipment, and Existing Structures	166,950	47,429		5,495
159A		Electric Power - Salaries
159B		Electric Power - All other Direct
159C		Electric Power - Construction
159D		Electric Power - Land, Equipment, and Existing Structures
160A		Natural Gas - Salries
160B		Natural Gas - All other Direct
160C		Natural Gas - Construction
160D		Natural Gas - Land, Equipment and Existing Structures
160.1A		Storm water salaries
160.1B		Storm water other operating
160.1C		Storm water contruction
160.1C		Storm water land, equipment and existing structures
161B	DEBT	Water and Sewer - Debt Service Interest Payments	191,720	176,055
161D	SERVICE	Water and Sewer - Debt Service Principal Payments	53,481
162B		Electric - Debt Service Interest Payments
162D		Electric - Debt Service Principal Payments
163B		Gas - Debt Service Interest Payments
163D		Gas - Debt Service Principal Payments
164B		School - Debt Service Interest Payments
164D		School - Debt Service Principal Payments
165B		Hospital - Debt Service Interest Payments
165D		Hospital - Debt Service Principal Payments
166B		All Other - Debt Service Interest Payments	38,958	40,413	165,153	11,612	9,965	12,362
166D		All Other - Debt Service Principal Payments	194,623	201,956	187,536	80,038	114,637	103,988
167B	PENSION	Direct Benefit Program - Pension Fund operated by the Unit
168B	FRINGE	Fringe Benefits Unallocated - (B)
169B		Separation Allowance - Law Enforcement Officers -(B)	7,077		20,679			3,461
170B		Separation Allowance - Other Employees - (B)
171B		Supplemental Retirement Income Plan for Law Enforcement Officers - (B)	16,193	13,662	12,089	5,140	4,508	7,769
172B		Fringe Benefits Other - (B)
173A		Multi-County Library District, County, or Other Municipality Authority
173B	INTERGOV	Multi-County Library District, County, or Other Municipality (Item number)
173C	EXPEND	Multi-County Library District, County, or Other Municipality (Amount)
174A		General Governmental Actitivies shared with the County (County)
174B		General Governmental Actitivies shared with the County (Item number)
174C		General Governmental Actitivies shared with the County (Amount)
175A		Highways (Payments to State) (State)
175B		Highways (Payments to State) (Item number)
175C		Highways (Payments to State) (Amount)
176A		Others - Name of Payee #1
176B		Others - 1 (B)
176C		Others - 1 (C)
177A		Others - Name of Payee #2
177B		Others - 2 (B)
177C		Others - 2 (C)
178A		Others - Name of Payee #3
178B		Others - 3 (B)
178C		Others - 3 (C)
179	PART 6	Current Year Levy Excluding Motor Vehicles	736,949	631,049	572,438	535,883	510,929	432,068
180	OTHER	Current Year Levy Motor Vehicles Only	68,255	97,826	88,211	73,732	67,716	63,258
181	DATA	Uncollected Taxes - Current Year's Levy - Excluding Motor Vehicles	24,341	19,027	15,607	13,147	14,484	15,953
182		Uncollected Taxes - Current Year's Levy - Motor Vehicles	9,455	16,910	13,663	12,014	11,727	16,192
183		Percentage of Taxes Collected - Current Year All Property	95.8	95.07	95.57	95.87	95.47	93.51
184		Percentage of Taxes Collected - Current Year - Excluding Motor Vehicles	96.7	96.98	97.27	97.55	97.17	96.31
185		Percentage of Taxes Collected - Current Year - Motor Vehicles	86.15	82.71	84.51	83.71	82.68	74.40
186		Total Amount of Expenditures for Salaries and Wages to Unit's Own Personnal
187A		Capital Reserve or Available Funds - Schools - July 1, Previous Year
187B		Capital Reserve or Available Funds - Schools - June 30, Current Year
188A		Capital Reserve or Available Funds - Hospitals - July 1, Previous Year
188B		Capital Reserve or Available Funds - Hospitals - June 30, Current Year
189A	PART 7	Cash on Hand and in Bank, and Securities - Held in Debt Service Fund
189B	CASH &	Cash on Hand and in Bank, and Securities - Construction Bond Fund - Unexpended bond proceeds				1,734,569	4,224,173
189C	INVEST	Cash on Hand and in Bank, and Securities - All Other	2,252,104	5,079,488	2,302,948	3,307,777	1,668,021	1,570,207
190A	PART	Appropriations made during the fiscal year pursuant to subsections b (1- 7)
190B	8	Expenditures made during the fiscal year pursuant to subsections b (1- 7)
191		Investment in Property Acquired at any time under G.S. 158
192		Amount Expended during the fiscal year pursuant to subsections b (5) and b (7)
193		Amount of Tax Revenues taken into account under G.S.
194A	PART 9	Amounts - Total Revenues and other financing sources per audit	8,942,442	3,923,033	2,992,771	3,208,690	2,055,265	2,052,962
194B	FISCAL	Amounts - Subtract proceeds of refunding debt
194C	SUMMARY	Amounts - Subtract interfund transfers in	3,306,824					390,383
194D		Amounts - Net Revenues per AFIR	5,635,618	3,923,033	2,992,771	3,208,690	2,055,265	1,662,579
		Calculated amount	5,635,618	3,923,033	2,992,771	3,208,690	2,055,265	1,662,579
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference
195A		Amounts - Total Expenditures and other financing sources per audit	8,072,747	3,715,272	3,847,357	1,871,763	1,834,545	2,243,424
195B		Amounts - Subtract payments to refunding debt escrow agent
195C		Amounts - Subtract interfund transfers out	3,306,824					390,383
195D		Amounts Net Expenditures per AFIR	4,765,923	3,715,272	3,847,357	1,871,763	1,834,545	1,853,041
		Calculated amount	4,765,923	3,715,272	3,847,357	1,871,763	1,834,545	1,853,041
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference

	PART 10

950		Name of Official Signatory	Karen A. Thompson
951		Title of Official	Finance Officer
952		Date Certified	11/25/2008	11/30/2007	01/12/2006
953		Person to Contact	Karen A. Thompson
954		Title of Person to Contact	Finance Officer
955		Telephone Number	910-845-2614
956		Facsimile Number	910-845-2040

Go to top of page Key Ratios and Operations Statistics of Water and Sewer Systems for
City of Boiling Spring Lakes

	2008	2007	2006	2005	2004	2003

Population	4,115	3,983	3,767	3,580	3,427	3,307
Population Group	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999
Total Operating Revenues	$687,720	616,408	267,206	0	0	0
Total Operating Revenues Per Capita	$167	155	71	0	0	0
Group Weighted Average Revenues Per Capita	396	397	412	394	373	354
State Weighted Average Revenues Per Capita	364	367	356	331	308	295

% to Total Operating Revenues
Operating Expenses	88.94%	80.83%	155.33%	0.00%	0.00%	0.00%
Group Weighted Average	93.18%	90.16%	87.25%	90.21%	91.34%	93.36%
State Weighted Average	86.74%	82.44%	81.55%	85.60%	89.13%	90.84%

Operating Margin	11.06%	19.17%	-55.33%	0.00%	0.00%	0.00%
Group Weighted Average	6.82%	9.84%	12.75%	9.79%	8.66%	6.64%
State Weighted Average	13.26%	17.56%	18.45%	14.40%	10.87%	9.16%

Operating Transfers In/(out)	37.69%	0.00%	0.00%	0.00%	0.00%	0.00%
Group Weighted Average	-3.22%	-2.12%	0.26%	-0.43%	-5.40%	-1.68%
State Weighted Average	3.96%	-0.78%	-0.58%	-0.79%	-1.21%	-0.99%

Net Income before capital contributions	43.01%	10.17%	-65.82%	0.00%	0.00%	0.00%
Group Weighted Average	3.36%	-0.97%	6.51%	7.51%	0.89%	4.57%
State Weighted Average	13.45%	11.89%	9.65%	8.63%	2.88%	0.31%

Key Ratios and Cash Flow

Quick Ratio	1.91	1.11	1.79	93.15	N/A	N/A
Group Weighted Average	3.12	3.26	3.68	3.54	4.02	3.72
State Weighted Average	2.95	2.90	2.82	1.81	2.76	3.04

Days Sales in Receivables	51.6	59.0	87.7	N/A	N/A	N/A
Group Weighted Average	52.2	52.6	53.8	53.5	60.0	55.4
State Weighted Average	55.3	59.9	57.8	59.9	65.7	60.0

Days Cash on Hand	486.6	381.8	248.4	11,364.3	0.0	0.0
Group Weighted Average	439.3	462.5	413.6	388.8	421.1	468.9
State Weighted Average	457.8	497.5	458.0	423.5	407.9	414.8

Cash flow from Operations	$219,553	204,101	-87,057	-34,413	0	0

Debt to Equity	1.28	1.42	1.46	2.06	1.97	0.00
Group Weighted Average	0.31	0.28	0.25	0.23	0.27	0.22
State Weighted Average	0.56	0.55	0.52	0.52	0.52	0.50

Debt per Capita	1,085	1,130	1,195	1,257	1,313	0
Group Weighted Average	631	533	484	493	509	525
State Weighted Average	1,136	1,091	989	929	855	852

Capital Expenditures:	2008	2007	2006	2005	2004	2003
	$197,312	158,856	0	5,495	0	0

	2002	2001	2000	1999
	$65,886	0	0	0

Capital Contributions: Excluded from income above	$21,427	28,600	1,076,560	105,035	2,030,740	0


Operating Statistics

Estimated population of the areas served Water	0	3,767	NA	NA	NA	NA
Estimated population of the areas served Sewer	0	0	NA	NA	NA	NA

Number of Gallons of Water Processed (000) omitted	89,375	70,818	NA	NA	NA	NA
Number of Gallons of Sewage Processed (000) omitted	0	0	NA	NA	NA	NA

Number of Gallons of Water Billed (000) omitted	84,359	67,912	NA	NA	NA	NA
Number of Gallons of Sewage Billed (000) omitted	0	0	NA	NA	NA	NA

Ratio of Water Billed to Water Processed	0.94388	0.95897	NA	NA	NA	NA
Ratio of Sewage Billed to Sewage Processed			NA	NA	NA	NA

Total Revenue from Water Sales	617,215	556,612	NA	NA	NA	NA
Total Revenue from Sewage Sales	0	0	NA	NA	NA	NA

Water Revenue per 1000 gallons of Sales		147.76002	NA	NA	NA	NA
Sewage Revenue per 1000 gallons of Sales			NA	NA	NA	NA

Group Average Sales per thousand Gallons Water	$1,510.62899	$1,842.80047	NA	NA	NA	NA
Group Average Sales per thousand Gallons Sewage	$1,202.09823	$1,724.69791	NA	NA	NA	NA

State Average Sales per thousand Gallons Water	$13,144.87654	$5,350.70834	NA	NA	NA	NA
State Average Sales per thousand Gallons Sewage	$10,395.28087	$3,921.08643	NA	NA	NA	NA

Residential Water Sales per thousand Gallons	$7.53956	8.30386	NA	NA	NA	NA
Residential Sewage Sales per thousand Gallons			NA	NA	NA	NA

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

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

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Analysis of Available Fund Balance: General Fund

	2004	2005	2006	2007	2008
Unit's FBA %	97.91%	359.23%	61.04%	53.65%	51.18%
Group average FBA %	61.38%	62.22%	62.33%	64.31%	65.07%
State average Electric/Non Electric Group FBA %	36.42%	36.90%	36.51%	37.14%	36.47%
State average FBA %	36.35%	36.76%	61.38%	36.37%	36.20%

Municipal Population Group: No Electric 2,500 to 9,999

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2004 2005 2006 2007 2008

Municipality 95.47% 95.87% 95.57% 95.07% 95.80%

Pop. Group 96.72% 96.85% 96.72% 96.76% 97.46%

Statewide 97.31% 97.42% 97.55% 97.59% 97.97%

Municipal Population Group: No Electric 2,500 to 9,999

	2004	2005	2006	2007	2008
Municipality	95.47%	95.87%	95.57%	95.07%	95.80%
Pop. Group	96.72%	96.85%	96.72%	96.76%	97.46%
Statewide	97.31%	97.42%	97.55%	97.59%	97.97%

Municipal Population Group: No Electric 2,500 to 9,999

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2004 2005 2006 2007 2008

Municipality 1,313 1,257 1,195 1,130 1,081

Pop. Group 159 162 162 149 152

Statewide 548 505 495 478 456

Municipal Population Group: 2,500 to 4,999

	2004	2005	2006	2007	2008
Municipality	1,313	1,257	1,195	1,130	1,081
Pop. Group	159	162	162	149	152
Statewide	548	505	495	478	456

Municipal Population Group: 2,500 to 4,999

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2004 2005 2006 2007 2008

Property Tax $169 171 179 183 197

Utility 0 0 71 260 188

Sales Tax 203 221 234 246 236

Sales & Services 11 29 41 35 42

Intergovernmental 108 121 139 124 147

Debt Proceeds 57 279 16 13 463

Other Miscellaneous 52 75 114 124 97

Total $600 896 794 985 1,370

	2004	2005	2006	2007	2008
Property Tax	$169	171	179	183	197
Utility	0	0	71	260	188
Sales Tax	203	221	234	246	236
Sales & Services	11	29	41	35	42
Intergovernmental	108	121	139	124	147
Debt Proceeds	57	279	16	13	463
Other Miscellaneous	52	75	114	124	97
Total	$600	896	794	985	1,370

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2008
2008

Category Revenue
Per Capita

Property Tax $810,519
$197

Water/Sewer 772,754
188

Electric 0
0

Other Utilities 0
0

Sales Tax 967,615
236

Sales & Services 173,500
42

Intergovernment 606,745
147

Debt Proceeds 1,905,030
463

Miscellaneous 399,455
97

Total $5,635,618
$1,370

Municipal Population Group: No Electric 2,500 to 9,999

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2008
2008

Category Expenditures
Per Capita

General Government $1,696,321
$413

Water/Sewer 680,036
165

Electric 0
0

Other Utilities 0
0

Debt Service 478,782
116

Transportation 819,559
199

Public Safety 682,851
166

Other 408,374
99

Total $4,765,923
$1,158

Municipal Population Group: No Electric 2,500 to 9,999

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2008
2008

Category Expenditures
Per Capita

Salaries & Wages $1,195,624
$291

Water/Sewer Capital 197,312
48

Electric Capital 0
0

Other Capital 1,135,069
276

Other Operating 2,237,918
543

Total $4,765,923
$1,158

Municipal Population Group: No Electric 2,500 to 9,999

Last Updated 8/27/2009 6:55:14 AM



	2008	2008
Category	Revenue	Per Capita
Property Tax	$810,519	$197
Water/Sewer	772,754	188
Electric	0	0
Other Utilities	0	0
Sales Tax	967,615	236
Sales & Services	173,500	42
Intergovernment	606,745	147
Debt Proceeds	1,905,030	463
Miscellaneous	399,455	97
Total	$5,635,618	$1,370

Municipal Population Group: No Electric 2,500 to 9,999

North CarolinaDepartment of State TreasurerFinancial InformationCity of Boiling Spring Lakes

Financial Graphs and Comparisons

North Carolina
Department of State Treasurer
Financial Information
City of Boiling Spring Lakes