North Carolina
Department of State Treasurer
Financial Information
City of Conover



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
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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
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200820072006200520042003

Revenues by Source







Property Tax$4,182,164 3,931,456 3,608,720 3,705,686 3,395,814 3,292,015


Utility 3,339,065 3,207,155 3,251,297 3,142,622 2,993,862 3,002,984


Sales Tax 1,780,345 1,695,608 1,541,920 1,379,795 1,391,634 1,130,774


Sales & Services 196,587 211,346 195,797 185,161 181,481 168,062


Intergovernmental 1,311,633 1,509,888 1,801,204 1,231,701 1,428,444 1,217,764


Debt Proceeds 1,883,364 - 1,915,000 700,000 1,650,000 2,607


Other Miscellaneous 700,787 870,670 575,586 407,504 319,051 3,580,706


Total$13,393,945 11,426,123 12,889,524 10,752,469 11,360,286 12,394,912










Expenditures by Function







Utility$2,443,757 2,177,705 2,437,398 2,618,254 2,386,792 2,266,014


Debt Service 914,214 936,480 2,433,479 936,483 825,838 878,152


Transportation 1,189,015 1,237,652 1,066,225 892,166 1,003,160 980,207


General Government 2,383,012 1,967,828 1,355,836 1,499,385 1,572,948 1,177,422


Public Safety 3,074,603 3,091,888 2,909,964 4,460,947 2,588,415 2,338,425


Other 1,637,608 1,573,923 2,625,508 3,153,379 1,605,762 1,494,518


Total$11,642,209 10,985,476 12,828,410 13,560,614 9,982,915 9,134,738










Expenditures by Object







Salaries & Wages$4,729,213 4,355,802 4,260,085 4,211,334 3,872,748 3,728,525


Capital Outlay 1,625,156 980,978 2,028,689 3,099,744 1,464,821 1,116,925


Other Operating + Debt Service 5,287,840 5,648,696 6,539,636 6,249,536 4,645,346 4,289,288


Total$11,642,209 10,985,476 12,828,410 13,560,614 9,982,915 9,134,738



















Per Capita Revenues by Source







Property Tax$528 505 472 493 482 470


Utility 421 412 425 418 425 429


Sales Tax 225 216 201 185 199 162


Sales & Services 25 27 26 25 26 24


Intergovernmental 166 194 235 164 203 174


Debt Proceeds 238 - 250 93 234 -


Other Miscellaneous 88 112 75 54 45 511


Total$1,691 1,466 1,684 1,432 1,614 1,770










Per Capita Expenditures by Function







Utility$308 279 319 349 339 324


Debt Service 115 120 318 125 117 125


Transportation 150 159 139 119 142 140


General Government 302 253 177 199 224 169


Public Safety 388 397 380 594 368 334


Other 207 202 343 420 228 213


Total$1,470 1,410 1,676 1,806 1,418 1,305










Per Capita Expenditures by Object







Salaries & Wages$597 559 557 561 550 532


Capital Outlay 205 126 265 413 208 160


Other Operating 668 725 854 832 660 613


Total$1,470 1,410 1,676 1,806 1,418 1,305










Population GroupNo 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 Conover Population 7,922 7,792 7,652 7,510 7,040 7,002

Group Average Per Capita Revenues by Source







Property Tax 339 312306296284282


Utility 315 316326307292279


Sales Tax 160 158154146140120


Sales & Services 81 7974706867


Intergovernmental 182 176160165184179


Debt Proceeds 174 10995657769


Other Miscellaneous 126 16112611097132


Total 1,377 1,3111,2411,1591,1421,128










Group Average Per Capita Expenditures by Function







Utility 377 334305290305298


Debt Service 103 979810110497


Transportation 112 11211210510090


General Government 170 160156154159136


Public Safety 322 312280268261249


Other 233 237209218199214


Total 1,317 1,2521,1601,1361,1281,084










Group Average Per Capita Expenditures by Object







Salaries & Wages 421 408390385359354


Capital Outlay 284 254205179208172


Other Operating 612 590565572561558


Total 1,317 1,2521,1601,1361,1281,084


















General Fund
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200820072006200520042003

General Fund revenues$7,591,128 7,208,621 6,576,237 6,391,030 6,122,499 5,696,155

General Fund expenditures 7,369,278 6,686,938 8,392,531 6,156,806 5,695,733 5,298,886

Operating transfers in 585,402 360,268 463,000 435,000 385,000 395,000

Operating transfers out 703,309 655,792 585,945 473,257 500,743 22,350

Capital leases and installment purchase proceeds - 21,680 1,915,000 - - -

Other items 2,628 - - - - 4,500

Excess of revenues and other sources over (under) expenditures and other uses 106,571 247,839 (24,239) 195,967 311,023 774,419










Fund balance available (FBA):







In dollars$3,861,199 3,961,683 3,838,823 3,874,842 3,636,997 3,648,339


FBA as a % of GF Net Expenditures:







Unit's FBA %47.8354.1154.3558.4458.6968.56


Group weighted average FBA %65.0764.3162.3362.2261.3860.00


State weighted average Non-Electric Group36.4737.1436.5136.9036.4236.42


State weighted average FBA %36.2036.3736.3136.7636.3536.06

















Enterprise Funds:
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Water/Sewer













Combined financial results:







Working capital$3,232,030 3,035,877 2,692,431 2,815,829 4,896,461 5,311,487


Quick ratio4.87 5.75 4.98 5.14 8.22 9.20


Net income174,984 532,843 715,357 132,737 1,548,881 3,177,876


Cashflow from operations1,255,875 1,036,196 1,028,630 924,719 788,950 1,048,990


Depreciation & Amortization Expense772,666 758,101 723,955 694,839 517,321 694,348


























Cash, Investments and Financing
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200820072006200520042003











Population at July 1st of the Previous Year7,9227,7927,6527,5107,0407,002


Population GroupNo 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$12,341,222 10,071,777 9,972,272 9,984,232 12,495,612 11,267,811


Investment Earnings492,740 544,431 383,029 220,557 129,004 148,419


Tax Rate Equivalent0.04810.05470.03980.02270.01370.0171


Tax Rate Equivalent Group weighted average0.02960.04390.03220.02120.01150.0166


Tax Rate Equivalent Statewide weighted average0.05240.09200.05730.04150.03400.0332


Latest year of Revaluation 200720032003200320031999


January 1, Prior Year Assessed Valuation$1,024,820,288 995,412,419 963,213,402 972,569,787 942,163,909 869,770,298


Tax Rate0.40000.40000.38000.38000.36000.3800


Tax Rate Group weighted average0.26820.31260.31910.36260.37590.3833


Tax Rate State Wide0.42540.44550.43210.44480.45660.4594


Assessment -to-Sales Ratio88.8494.5896.4799.3099.6589.23


Assessment -to-Sales Ratio Group weighted average90.9283.4791.5285.3189.2288.07


Assessment -to-Sales Ratio Statewide88.5288.4192.2892.3592.1889.54


Assessed Valuation Adjusted for Assesment to Sales Ratio$1,153,557,281 1,052,455,508 998,459,005 979,425,767 945,473,065 974,750,978


EffectiveTax Rate0.35540.37830.36660.37730.35870.3391


Group weighted average Effective Tax Rate0.24380.26100.29210.30930.33540.3376


Statewide weighted average Effective Tax Rate0.37650.39390.39870.41080.42090.4113


Percent Collected97.4197.3596.9997.8097.8698.02


Percent Collected Group weighted average97.4696.7696.7296.8596.7296.35


Percent Collected Statewide97.9797.5997.5597.4297.3196.96


Percent Collected Excluding Motor Vehicles98.2498.1697.8798.6498.4999.02


Percent Collected Excluding Motor Vehicles Group weighted average98.0898.0098.0897.9697.9197.84


Percent Collected Excluding Motor Vehicles Statewide weighted average98.6698.5998.6198.3698.2698.31


Percent Collected Motor Vehicles Only 85.5285.0485.3385.9589.3285.88


Percent Collected Motor Vehicles Only Group weighted average85.7586.0486.2285.8785.7684.39


Percent Collected Motor Vehicles Only Statewide weighted average 86.7486.7186.8087.3187.6286.69


Tax Uncollected39,805 104,451 110,225 81,562 72,700 65,357


Tax Rate Equivalent0.00390.01050.01140.00840.00770.0075


Dominant County: Catawba






Debt Information








Population Group5,000 to 9,9995,000 to 9,9995,000 to 9,9995,000 to 9,9995,000 to 9,9995,000 to 9,999


Ratings:







Fitch







Moody'sA1A1A1A1A1A1


S & PA+A+A+A+A+A+











General Obligation Debt (GO) where the taxing power of the entrire municipality is pledged to pay the obligation




Enterprise GO Debt$1,250,000 1,375,000 1,500,000 1,625,000 1,750,000 1,875,000


General Government GO Debt0 0 0 0 0 0


Total General Obligation Debt1,250,000 1,375,000 1,500,000 1,625,000 1,750,000 1,875,000


Per Capita$158 176 196 216 249 268


Total Per Capita for the Population Group71 93 117 131 171 #N/A


Total Per Capita Statewide456 478 495 505 548 #N/A


Total per Assessed Valuation Adjusted for Current Year Sales0.1084%0.1306%0.1502%0.1659%0.1851%0.1924%


Total per Assessed Valuation Adjusted for Current Year Sales- Group Average0.0577%0.0861%0.1199%0.1450%0.2078%#N/A


Total per Assessed Valuation Adjusted for Current Year Sales - Statewide0.4131%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 Government2,055,317 307,367 438,180 2,064,548 2,186,623 807,698


Total*$2,055,317 307,367 438,180 2,064,548 2,186,623 807,698


* The total only includes the contracts that require Local Government Commission approval.




Revenue Bond Debt $1,365,400 1,616,800 1,868,200 2,119,600 2,371,000 2,622,400


















Annual Financial Information Report Detail
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LineSectionDescription200820072006200520042003

Population at July 1st of the Previous Year Adjusted for Boundry Changes7,9227,7927,6527,5107,0407,002









1ANon GASB34General Fund Assets




4,349,850
1BFISCAL General Fund Liabilities




444,761
2ASUMMARYDebt-service Assets





2B
Debt service Liabilities





3A
Enterprise Assets




29,889,243
3B
Enterprise Liabilities




5,353,795
4A
Internal Service Assets




6,815
4B
Internal service Liabilities





5A
Special Revenue Assets




304,326
1.5AGASB34Governmental Activities Assets32,950,04630,547,26129,178,74228,110,27126,805,129
1.5BFISCAL Governmental Activities Liabilities5,109,5543,219,0263,475,9833,297,9512,671,568
3.5ASUMMARYBusiness Type Activities Assets30,924,30131,005,08130,599,77930,686,26430,987,446
3.5B
Business Type Activities Liabilties3,203,6333,464,1723,957,8234,410,0414,883,608
6.5A
Fiduciary Funds Assets261,428248,075232,825209,810

6.5B
Fiduciary Funds Liabilties


284

5B
Special Revenue Liabilities




654
6A
Trust & Agency Assets




190,141
6B
Trust & Agency Liabilities





7A
Capital Project Assets




1,358,263
7B
Capital Project Liabilities




9,372
8A
General Fixed Assets




23,582,026
9B
General Long term debt - Liabilities




900,902
10PART 2Current collections of unit-wide levy4,103,8553,843,9863,551,7183,622,4933,317,6943,242,292
11TAXCurrent collection of special tax districts75,58968,54850,86950,48442,13537,513
12REVENUESPrior years' levy collections64,14370,67944,56064,63065,60040,169
13
Penalties and interest14,16616,79112,44218,56312,5209,554
14
Collection of taxes previously written off





15
Animal tax





16
1% Local government sales and use tax802,167738,135677,555656,770650,601553,368
17
1/2% Local government sales and use taxes (Article 40)332,510325,444291,293236,275241,707230,345
18
1/2% Local government sales and use taxes (Article 42)328,949322,058288,596233,794256,271227,814
18.5
1/2% Local government sales and use taxes (Article 44)316,719309,971284,476252,956243,055119,247
19
Licenses Privilege



3,4022,749
19.1
Privilege - Occupational & business licensing & permit taxes3,2533,1962,8972,739

19.2
Privilege -- All other privileges and pemits





20
General Municipal Vehicle Tax





21
Vehicle Tax for Public Transportation





22
Other licenses - Include CATV80,916107,66763,36058,53458,09755,805
23
Local occupancy tax





24
Prepared food tax





25
911 charges





26
Gross Receipts Tax on Short Term Vehicles Leases1,4042,0711,6181,2741,361651
27FEDERALFEDERAL Payment in lieu of taxes





28INTERGOVEquitable sharing of Federally forfeited property6,2423,804

539
29REVENUESGeneral government




65,654
30
Public safety25,288215,57950,39124,5331,19812,071
31
Transportation - Streets5,60844,158



32
Transportation - All other





33
Utility franchise tax




29,504
34
Housing/community development22,723


68,9166,084
35
All Other
69,509280,00033,54084,4342,242
36
Human services: Health, mental health, hospitals





37
All other





38
Culture and recreation





39STATEState Payment in Lieu of Taxes





40INTERGOVControlled substance tax3,11910,5813,4455,7795725,462
41REVENUESIntangibles tax reimbursement + Transistional Hold Harmless Revenues161,857178,792200,332223,025223,025
42
Wireless Enhanced 911 Service Charges





43
Piped Natural Gas Charge Distribution90,47591,61390,78295,072118,393
44
Utility franchise tax627,859584,947578,237564,132673,924645,357
45
Beer and Wine tax35,89334,57733,17131,16130,07229,087
46
Powell Bill287,585254,002255,539242,224215,676233,328
47
Food stamp purchases tax reimbursement





48
Inventories tax reimbursements





49
Senior Citizens Exemption - 50%





50
Court fees - Facilities and arrest fees3,6053,8195,5674,8753,3543,433
51
General Government

2,5001,7501,750
52
Public safety2,308
1,240

1,250
53
Transportation - Streets




182,503
54
Transportation - All other20,000




55
Environmental protection14,071

5,6107,125
56
Econ. & Phys. Dev. - Housing/Comm. Dev.





57
Econ. & Phys. Dev. - All Other

300,000


58
Human Services: Health, mental health, hospitals





59
All Other





60
Culture and recreation





61LOCALLOCAL Payment in lieu of taxes





62INTERGOVGeneral government5,0009,780


1,750
63REVENUESPublic safety
8,727



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





71PERMITS Building permits





72& FEESInspection fees





72.1
Amusements licensing and permit taxes





73
Other permits





74SALES &Parking revenues





75SERVICESRents and royalties64,46463,72366,39162,07753,47052,078
76
Airport





77
Fire protection charges16,43416,43516,27016,21515,97315,774
78
Solid waste95,44693,68491,81589,74787,93885,650
79
Ambulance and rescue squad charges





80
Cemeteries13,00013,72516,70010,85012,90011,400
81
Recreation service revenues





82
Library service revenues





83
Other cultural and recreational service revenues



11,200
84
Mass transit - city operated





85
Other sales and services7,24323,7794,6216,272
3,160
86UTILITYWater and sewer charges3,339,0653,207,1553,251,2973,142,6222,993,8623,002,984
87REVENUESElectric charges





88
Gas charges





88.1
Storm Water Fees





89MISC.On bond proceeds


1,4522952,506
90REVENUESOn general and all other funds492,740544,431383,029220,557129,004148,419
91
Special assessments

50080159257
92
Private contribution and donations2,34023,75025,8551,725
1,300
93
Sales of materials and fixed assets16,83871,662
4,8663,2578,967
94
Sales of real property




3,271,850
95
Nongovernment contributions for streets and traffic signals





96
Mixed drink surcharge





97
ABC profit distribution





98
Other miscellaneous revenues27,70728,20325,66023,82758,22826,919
99
Proceeds of the sale of bonds and notes





100
Proceeds of capital leases and installment purchases1,883,364
1,915,000700,0001,650,0002,607
101
Other
21,14221,79841,96623,11323,770
102NON-REVSupplemental schools taxes - current levy collections





103RECEIPTSPrior years' levy collections





104
Tax collections for units other than reporting unit





105
Utilities customers' deposits19,08524,9272028551,241250
106
Deposits other than utility-6,723-30,7166,097-7,30920,1799,386
107
Prepaid taxes
-2,9602,960201-4,767-2,570
108
Prepaid privilege licenses321-6213481-281437
109APART 4Governing body - Salaries





109BGENERALGoverning body - All other Direct119,040133,124102,274100,884100,84583,721
109CGOVTGoverning body - Construction





109D
Governing body - Land, Equipment and Existing Structures


21,843

110A
Administration - Salaries471,782449,987444,293477,090444,598435,780
110B
Administration - All other Direct138,812138,377158,257146,974233,004120,140
110C
Administration - Construction





110D
Administration - Land, Equipment and Existing Structures





111A
Elections (cost of) - Salaries





111B
Elections (cost of) - All other Direct





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 Direct60,83730,94015,29517,71813,95217,975
114C
Legal - Construction





114D
Legal - Land, Equipment, and Existing Structures





115A
Public Buildings - Salaries





115B
Public Buildings - All other Direct96,683487,12282,89069,38658,27054,268
115C
Public Buildings - Construction
13,69537,968


115D
Public Buildings - Land, Equipment, and Existing Structures


80,765202,967
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 - Salaries472,388410,296369,943420,989346,027336,583
118B
General Government All Other - All other Direct341,585229,053139,921131,760135,476123,069
118C
General Government All Other - Construction674,270


37,809
118D
General Government All Other - Land, Equipment, and Existing Structures7,61575,2344,99531,976
5,886
119APUBLICPolice and Communications - Salaries1,322,2491,192,7661,199,6701,195,2361,071,5721,033,222
119BSAFETYPolice and Communications - All other Direct360,333300,951334,481327,753324,374271,499
119C
Police and Communications - Construction115,910




119D
Police and Communications - Land, Equipment and Existing Structures76,73593,29892,81389,50968,27397,958
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 - Salaries720,360640,359585,098480,900411,975417,757
122B
Fire - All other Direct365,666649,894511,768413,680387,989337,494
122C
Fire - Construction
6,294106,3521,105,040245,56225,386
122D
Fire - Land, Equipment, and Existing Structures62,753163,25833,869803,18827,158111,313
123A
Inspectors - Salaries





123B
Inspectors - All other Direct





123C
Inspectors - Construction





123D
Inspectors - Land, Equipment, and Existing Structures





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





125B
Animal Control - All other Direct





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





127ATRANSPORTraffic Engineering - Salaries





127BTATIONTraffic Engineering - All other Direct





127C
Traffic Engineering - Construction





127D
Traffic Engineering - Land, Equipment, and Existing Structures





128A
Streets and Highways - Salaries250,782241,923210,904221,217225,257226,599
128B
Streets and Highways - All other Direct528,596525,722491,897422,475383,119377,018
128C
Streets and Highways - Construction80,180
65,28234,861130,462203,569
128D
Streets and Highways - Land, Equipment and Existing Structures60,704259,69759,18523,02357,121
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 - Salries81,36079,31086,00264,94379,65773,261
130B
State Street Aid Allocation - Powell Bill - All other Direct143,771131,000140,440103,358126,39999,760
130C
State Street Aid Allocation - Powell Bill - Construction


22,2891,145
130D
State Street Aid Allocation - Powell Bill - Land, Equipment, and Existing Structures43,622
12,515


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





136AENVIRONSolid Waste - Salaries350,538334,571335,519298,885282,183267,095
136BMENTALSolid Waste - All other Direct291,025268,303276,892243,814254,574224,993
136CPROTECTIONSolid Waste - Construction





136D
Solid Waste - Land, Equipment, and Existing Structures151,895173,02658,8957,26840,525139,207
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 - Salaries184,401162,673151,29781,37061,25951,022
138B
Cemeteries - All other Direct112,242107,663116,71055,82448,14749,994
138C
Cemeteries - Construction
2,825



138D
Cemeteries - Land, Equipment, and Existing Structures7,629

16,04718,640
139A
Environmental Protection - All Other - Salaries





139B
Environmental Protection - All Other - All other Direct





139C
Environmental Protection - All Other - Construction





139D
Environmental Protection All Other - Land, Equipment, and Existing Structures





140AECONOMICPlanning and Zoning - Salaries179,381152,636149,662157,950157,372170,850
140B& PHYSICALPlanning and Zoning - All other Direct109,77578,23668,85562,37861,90060,270
140CDEVELOPPlanning and Zoning - Construction





140D
Planning and Zoning - Land, Equipment, and Existing Structures21,314




141A
Economic Development - Salaries





141B
Economic Development - All other Direct56,81953,82655,34981,58475,11926,438
141C
Economic Development - Construction
91,683757,93194,438119,81746,840
141D
Economic Development - Land, Equipment, and Existing Structures11,55121,743



142A
Community Development - Salaries





142B
Community Development - All other Direct





142C
Community Development - Construction28,733


68,2366,091
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

540,227


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





146AHUMANHealth - Salaries





146BSERVICESHealth - 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





153ACULTURE Recreation and Parks - Salaries


81,37161,25951,023
153BRECREATIONRecreation and Parks - All other Direct


54,19448,146103,060
153C
Recreation and Parks - Construction





153D
Recreation and Parks - Land, Equipment, and Existing Structures


17,64718,640
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





157C
Human Services - All Other - Construction





157D
Human Services - All Other - Land, Equipment, and Existing Structures





158AUTILITYWater and Sewer - Salaries695,972691,281727,697731,383731,589665,333
158B
Water and Sewer - All other Direct1,465,5401,406,1991,451,0441,135,0211,226,7371,120,006
158C
Water and Sewer - Construction86,89821,082156,197685,12412,566480,675
158D
Water and Sewer - Land, Equipment, and Existing Structures195,34759,143102,46066,726415,900
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





161BDEBTWater and Sewer - Debt Service Interest Payments131,858148,905165,904482,175198,181224,956
161DSERVICEWater and Sewer - Debt Service Principal Payments457,450462,668461,290182,855482,468496,414
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 Payments111,581119,14064,616197,07524,11447,077
166D
All Other - Debt Service Principal Payments213,325205,7671,741,66974,378121,075109,705
167BPENSIONDirect Benefit Program - Pension Fund operated by the Unit





168BFRINGEFringe Benefits Unallocated - (B)





169B
Separation Allowance - Law Enforcement Officers -(B)



10,1003,972
170B
Separation Allowance - Other Employees - (B)





171B
Supplemental Retirement Income Plan for Law Enforcement Officers - (B)50,59745,06845,91345,64141,41239,824
172B
Fringe Benefits Other - (B)14,3403,02110,3665,5271,9081,332
173A
Multi-County Library District, County, or Other Municipality Authority


CountyCountyCounty
173BINTERGOVMulti-County Library District, County, or Other Municipality (Item number)


156156156
173CEXPENDMulti-County Library District, County, or Other Municipality (Amount)


19,39618,74918,189
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 #1Western Piedmint TransistPiedmont WagonCity of HickoryCity of Hickory/Piedmont wagonPiedmont Wagon TransitPiedmont Wagon Mass Transit
176B
Others - 1 (B)132132132132132132
176C
Others - 1 (C)77,90283,00062,50064,89252,36350,894
177A
Others - Name of Payee #2Hickory Water Plant Exp.Hickory Water Plant Expan.City of HickoryCity of HickorySludge Composition FacilitySludge Composition Facility
177B
Others - 2 (B)158158158158158158
177C
Others - 2 (C)11,16311,81712,405240,544203,286212,980
178A
Others - Name of Payee #3Newton Sewer Plant capacityNewton Sewer PlantCity of NewtonCity of NewtonHickory Water Plant ExpansionHickory Water Plant Expansion
178B
Others - 3 (B)158158158158158158
178C
Others - 3 (C)28,90028,90028,9001,570,25013,63914,240
179 PART 6Current Year Levy Excluding Motor Vehicles3,938,7993,706,6823,405,9903,458,9483,157,4843,056,853
180 OTHERCurrent Year Levy Motor Vehicles Only274,269241,754255,953245,107232,911250,796
181 DATAUncollected Taxes - Current Year's Levy - Excluding Motor Vehicles69,50568,27472,68847,13647,83429,956
182
Uncollected Taxes - Current Year's Levy - Motor Vehicles39,70836,17737,53734,42624,86635,401
183
Percentage of Taxes Collected - Current Year All Property97.4197.3596.9997.8097.8698.02
184
Percentage of Taxes Collected - Current Year - Excluding Motor Vehicles98.2498.1697.8798.6498.4999.02
185
Percentage of Taxes Collected - Current Year - Motor Vehicles85.5285.0485.3385.9589.3285.88
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





189APART 7Cash on Hand and in Bank, and Securities - Held in Debt Service Fund





189BCASH &Cash on Hand and in Bank, and Securities - Construction Bond Fund - Unexpended bond proceeds



17,35632,868
189CINVESTCash on Hand and in Bank, and Securities - All Other12,341,22210,071,7779,972,2729,984,23212,495,61211,267,811
190A PARTAppropriations made during the fiscal year pursuant to subsections b (1- 7)





190B 8Expenditures 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.





194APART 9Amounts - Total Revenues and other financing sources per audit15,374,64713,577,03115,052,83512,174,62112,548,68114,153,298
194BFISCALAmounts - Subtract proceeds of refunding debt





194CSUMMARYAmounts - Subtract interfund transfers in1,980,7022,150,9082,163,3111,422,1521,188,3951,758,386
194D
Amounts - Net Revenues per AFIR13,393,94511,426,12312,889,52410,752,46911,360,28612,394,912


Calculated amount13,393,94511,426,12312,889,52410,752,46911,360,28612,394,912


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference





195A
Amounts - Total Expenditures and other financing sources per audit13,622,91113,136,38414,991,72114,982,76611,171,31010,893,124
195B
Amounts - Subtract payments to refunding debt escrow agent





195C
Amounts - Subtract interfund transfers out1,980,7022,150,9082,163,3111,422,1521,188,3951,758,386
195D
Amounts Net Expenditures per AFIR11,642,20910,985,47612,828,41013,560,6149,982,9159,134,738


Calculated amount11,642,20910,985,47612,828,41013,560,6149,982,9159,134,738


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference















PART 10















950
Name of Official SignatoryVickie Schlichting


951
Title of OfficialFinance Director


952
Date Certified11/14/200810/29/200711/07/2006


953
Person to ContactVickie Schlichting


954
Title of Person to ContactFinance Director


955
Telephone Number828-464-1191


956
Facsimile Number828-465-5177






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Key Ratios and Operations Statistics of Water and Sewer Systems for



City of Conover













200820072006200520042003








Population
7,9227,7927,6527,5107,0407,002
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
$3,250,9633,222,9013,242,9493,071,0613,001,0132,985,636
Total Operating Revenues Per Capita
$410414424409426426
Group Weighted Average Revenues Per Capita396397412394373354
State Weighted Average Revenues Per Capita364367356331308295








% to Total Operating Revenues






Operating Expenses
91.59%89.86%90.81%91.22%89.77%90.64%
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
8.41%10.14%9.19%8.78%10.23%9.36%
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)
-7.58%-8.28%-8.09%-7.39%-7.60%-7.53%
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
-0.69%-0.09%-2.46%-4.10%-3.43%93.97%
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
4.875.754.985.148.229.20
Group Weighted Average
3.123.263.683.544.023.72
State Weighted Average
2.952.902.821.812.763.04








Days Sales in Receivables
35.537.834.635.833.929.8
Group Weighted Average
52.252.653.853.560.055.4
State Weighted Average
55.359.957.859.965.760.0








Days Cash on Hand
616.5566.8498.1547.5886.71,037.5
Group Weighted Average
439.3462.5413.6388.8421.1468.9
State Weighted Average
457.8497.5458.0423.5407.9414.8








Cash flow from Operations
$1,255,8751,036,1961,028,630924,719788,9501,048,990








Debt to Equity
0.100.120.140.160.160.18
Group Weighted Average
0.310.280.250.230.270.22
State Weighted Average
0.560.550.520.520.520.50








Debt per Capita
355420488558596638
Group Weighted Average
631533484493509525
State Weighted Average
1,1361,091989929855852








Capital Expenditures:
200820072006200520042003


$282,24580,225258,657751,850428,466480,675










2002200120001999



$239,4441,259,1501,455,3261,188,971









Capital Contributions: Excluded from income above
$197,408535,742795,284258,6261,651,916372,417
















Operating Statistics














Estimated population of the areas served Water05,431NANANANA
Estimated population of the areas served Sewer03,345NANANANA








Number of Gallons of Water Processed (000) omitted779682,814NANANANA
Number of Gallons of Sewage Processed (000) omitted433300,055NANANANA








Number of Gallons of Water Billed (000) omitted577,580551,528NANANANA
Number of Gallons of Sewage Billed (000) omitted295,916286,179NANANANA








Ratio of Water Billed to Water Processed741.437740.80773NANANANA
Ratio of Sewage Billed to Sewage Processed683.408780.95376NANANANA








Total Revenue from Water Sales1,589,9561,496,118NANANANA
Total Revenue from Sewage Sales1,490,3201,106,744NANANANA








Water Revenue per 1000 gallons of Sales

275.47744NANANANA
Sewage Revenue per 1000 gallons of Sales

330.86517NANANANA








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








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








Residential Water Sales per thousand Gallons$3.788943.93674NANANANA
Residential Sewage Sales per thousand Gallons$4.565494.66148NANANANA








Water Sales per thousand Gallons outside Municipal Limits
4.98762NANANANA
Sewage Sales per thousand Gallons outside Municipal Limits
8.84712NANANANA








Total Water Sales per thousand gallons for Redistribution$0.00000122,147.00000NANANANA
Total Sewage Sales per thousand gallons for Redistribution$0.000000.00000NANANANA




Financial Graphs and Comparisons


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Analysis of Available Fund Balance:  General Fund

20042005200620072008
Unit's FBA %58.69%58.44%54.35%54.11%47.83%
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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Analysis of Property Tax

20042005200620072008
Municipality97.86%97.80%96.99%97.35%97.41%
Pop. Group96.72%96.85%96.72%96.76%97.46%
Statewide97.31%97.42%97.55%97.59%97.97%






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






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Analysis of General Obligation Debt

20042005200620072008
Municipality249216196176158
Pop. Group1711311179371
Statewide548505495478456






Municipal Population Group: 5,000 to 9,999






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Analysis of Revenue

20042005200620072008
Property Tax$482493472505528
Utility425418425412421
Sales Tax199185201216225
Sales & Services2625262725
Intergovernmental203164235194166
Debt Proceeds234932500238
Other Miscellaneous45547511288
Total$1,6141,4321,6841,4661,691

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Analysis of Revenue for Fiscal 2008











2008
2008
CategoryRevenue
Per Capita
Property Tax$4,182,164
$528
Water/Sewer3,339,065
421
Electric0
0
Other Utilities0
0
Sales Tax1,780,345
225
Sales & Services196,587
25
Intergovernment1,311,633
166
Debt Proceeds1,883,364
238
Miscellaneous700,787
88
Total$13,393,945
$1,691





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





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Analysis of Expenditures by Function for Fiscal 2008











2008
2008
CategoryExpenditures
Per Capita
General Government$2,383,012
$302
Water/Sewer2,443,757
308
Electric0
0
Other Utilities0
0
Debt Service914,214
115
Transportation1,189,015
150
Public Safety3,074,603
388
Other1,637,608
207
Total$11,642,209
$1,470





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





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Analysis of Expenditures by Object for Fiscal 2008






2008
2008
CategoryExpenditures
Per Capita
Salaries & Wages$4,729,213
$597
Water/Sewer Capital282,245
36
Electric Capital0
0
Other Capital1,342,911
170
Other Operating5,287,840
668
Total$11,642,209
$1,470





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






Last Updated 8/27/2009 7:05:43 AM