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
Go to Catawba 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			2008	2007	2006	2005	2004	2003
	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 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 Conover Population	7,922	7,792	7,652	7,510	7,040	7,002
	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		$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 %	47.83	54.11	54.35	58.44	58.69	68.56
		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	$3,232,030	3,035,877	2,692,431	2,815,829	4,896,461	5,311,487
		Quick ratio	4.87	5.75	4.98	5.14	8.22	9.20
		Net income	174,984	532,843	715,357	132,737	1,548,881	3,177,876
		Cashflow from operations	1,255,875	1,036,196	1,028,630	924,719	788,950	1,048,990
		Depreciation & Amortization Expense	772,666	758,101	723,955	694,839	517,321	694,348



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

		Population at July 1st of the Previous Year	7,922	7,792	7,652	7,510	7,040	7,002
		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
		Cash &Investments	$12,341,222	10,071,777	9,972,272	9,984,232	12,495,612	11,267,811
		Investment Earnings	492,740	544,431	383,029	220,557	129,004	148,419
		Tax Rate Equivalent	0.0481	0.0547	0.0398	0.0227	0.0137	0.0171
		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	$1,024,820,288	995,412,419	963,213,402	972,569,787	942,163,909	869,770,298
		Tax Rate	0.4000	0.4000	0.3800	0.3800	0.3600	0.3800
		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	88.84	94.58	96.47	99.30	99.65	89.23
		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	$1,153,557,281	1,052,455,508	998,459,005	979,425,767	945,473,065	974,750,978
		EffectiveTax Rate	0.3554	0.3783	0.3666	0.3773	0.3587	0.3391
		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	97.41	97.35	96.99	97.80	97.86	98.02
		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	98.24	98.16	97.87	98.64	98.49	99.02
		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	85.52	85.04	85.33	85.95	89.32	85.88
		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	39,805	104,451	110,225	81,562	72,700	65,357
		Tax Rate Equivalent	0.0039	0.0105	0.0114	0.0084	0.0077	0.0075
		Dominant County: Catawba
	Debt Information
		Population Group	5,000 to 9,999	5,000 to 9,999	5,000 to 9,999	5,000 to 9,999	5,000 to 9,999	5,000 to 9,999
		Ratings:
		Fitch
		Moody's	A1	A1	A1	A1	A1	A1
		S & P	A+	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 Debt	0	0	0	0	0	0
		Total General Obligation Debt	1,250,000	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 Group	71	93	117	131	171	#N/A
		Total Per Capita Statewide	456	478	495	505	548	#N/A
		Total per Assessed Valuation Adjusted for Current Year Sales	0.1084%	0.1306%	0.1502%	0.1659%	0.1851%	0.1924%
		Total per Assessed Valuation Adjusted for Current Year Sales- Group Average	0.0577%	0.0861%	0.1199%	0.1450%	0.2078%	#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	2,055,317	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 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		7,922	7,792	7,652	7,510	7,040	7,002

1A	Non GASB34	General Fund Assets						4,349,850
1B	FISCAL	General Fund Liabilities						444,761
2A	SUMMARY	Debt-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
1.5A	GASB34	Governmental Activities Assets	32,950,046	30,547,261	29,178,742	28,110,271	26,805,129
1.5B	FISCAL	Governmental Activities Liabilities	5,109,554	3,219,026	3,475,983	3,297,951	2,671,568
3.5A	SUMMARY	Business Type Activities Assets	30,924,301	31,005,081	30,599,779	30,686,264	30,987,446
3.5B		Business Type Activities Liabilties	3,203,633	3,464,172	3,957,823	4,410,041	4,883,608
6.5A		Fiduciary Funds Assets	261,428	248,075	232,825	209,810
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
10	PART 2	Current collections of unit-wide levy	4,103,855	3,843,986	3,551,718	3,622,493	3,317,694	3,242,292
11	TAX	Current collection of special tax districts	75,589	68,548	50,869	50,484	42,135	37,513
12	REVENUES	Prior years' levy collections	64,143	70,679	44,560	64,630	65,600	40,169
13		Penalties and interest	14,166	16,791	12,442	18,563	12,520	9,554
14		Collection of taxes previously written off
15		Animal tax
16		1% Local government sales and use tax	802,167	738,135	677,555	656,770	650,601	553,368
17		1/2% Local government sales and use taxes (Article 40)	332,510	325,444	291,293	236,275	241,707	230,345
18		1/2% Local government sales and use taxes (Article 42)	328,949	322,058	288,596	233,794	256,271	227,814
18.5		1/2% Local government sales and use taxes (Article 44)	316,719	309,971	284,476	252,956	243,055	119,247
19		Licenses Privilege					3,402	2,749
19.1		Privilege - Occupational & business licensing & permit taxes	3,253	3,196	2,897	2,739
19.2		Privilege -- All other privileges and pemits
20		General Municipal Vehicle Tax
21		Vehicle Tax for Public Transportation
22		Other licenses - Include CATV	80,916	107,667	63,360	58,534	58,097	55,805
23		Local occupancy tax
24		Prepared food tax
25		911 charges
26		Gross Receipts Tax on Short Term Vehicles Leases	1,404	2,071	1,618	1,274	1,361	651
27	FEDERAL	FEDERAL Payment in lieu of taxes
28	INTERGOV	Equitable sharing of Federally forfeited property	6,242	3,804			5	39
29	REVENUES	General government						65,654
30		Public safety	25,288	215,579	50,391	24,533	1,198	12,071
31		Transportation - Streets	5,608	44,158
32		Transportation - All other
33		Utility franchise tax						29,504
34		Housing/community development	22,723				68,916	6,084
35		All Other		69,509	280,000	33,540	84,434	2,242
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	3,119	10,581	3,445	5,779	572	5,462
41	REVENUES	Intangibles tax reimbursement + Transistional Hold Harmless Revenues	161,857	178,792	200,332	223,025	223,025
42		Wireless Enhanced 911 Service Charges
43		Piped Natural Gas Charge Distribution	90,475	91,613	90,782	95,072	118,393
44		Utility franchise tax	627,859	584,947	578,237	564,132	673,924	645,357
45		Beer and Wine tax	35,893	34,577	33,171	31,161	30,072	29,087
46		Powell Bill	287,585	254,002	255,539	242,224	215,676	233,328
47		Food stamp purchases tax reimbursement
48		Inventories tax reimbursements
49		Senior Citizens Exemption - 50%
50		Court fees - Facilities and arrest fees	3,605	3,819	5,567	4,875	3,354	3,433
51		General Government			2,500	1,750	1,750
52		Public safety	2,308		1,240			1,250
53		Transportation - Streets						182,503
54		Transportation - All other	20,000
55		Environmental protection	14,071			5,610	7,125
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
61	LOCAL	LOCAL Payment in lieu of taxes
62	INTERGOV	General government	5,000	9,780				1,750
63	REVENUES	Public 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
71	PERMITS	Building permits
72	& FEES	Inspection fees
72.1		Amusements licensing and permit taxes
73		Other permits
74	SALES &	Parking revenues
75	SERVICES	Rents and royalties	64,464	63,723	66,391	62,077	53,470	52,078
76		Airport
77		Fire protection charges	16,434	16,435	16,270	16,215	15,973	15,774
78		Solid waste	95,446	93,684	91,815	89,747	87,938	85,650
79		Ambulance and rescue squad charges
80		Cemeteries	13,000	13,725	16,700	10,850	12,900	11,400
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 services	7,243	23,779	4,621	6,272		3,160
86	UTILITY	Water and sewer charges	3,339,065	3,207,155	3,251,297	3,142,622	2,993,862	3,002,984
87	REVENUES	Electric charges
88		Gas charges
88.1		Storm Water Fees
89	MISC.	On bond proceeds				1,452	295	2,506
90	REVENUES	On general and all other funds	492,740	544,431	383,029	220,557	129,004	148,419
91		Special assessments			500	80	159	257
92		Private contribution and donations	2,340	23,750	25,855	1,725		1,300
93		Sales of materials and fixed assets	16,838	71,662		4,866	3,257	8,967
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 revenues	27,707	28,203	25,660	23,827	58,228	26,919
99		Proceeds of the sale of bonds and notes
100		Proceeds of capital leases and installment purchases	1,883,364		1,915,000	700,000	1,650,000	2,607
101		Other		21,142	21,798	41,966	23,113	23,770
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	19,085	24,927	202	855	1,241	250
106		Deposits other than utility	-6,723	-30,716	6,097	-7,309	20,179	9,386
107		Prepaid taxes		-2,960	2,960	201	-4,767	-2,570
108		Prepaid privilege licenses	321	-621	3	481	-281	437
109A	PART 4	Governing body - Salaries
109B	GENERAL	Governing body - All other Direct	119,040	133,124	102,274	100,884	100,845	83,721
109C	GOVT	Governing body - Construction
109D		Governing body - Land, Equipment and Existing Structures				21,843
110A		Administration - Salaries	471,782	449,987	444,293	477,090	444,598	435,780
110B		Administration - All other Direct	138,812	138,377	158,257	146,974	233,004	120,140
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 Direct	60,837	30,940	15,295	17,718	13,952	17,975
114C		Legal - Construction
114D		Legal - Land, Equipment, and Existing Structures
115A		Public Buildings - Salaries
115B		Public Buildings - All other Direct	96,683	487,122	82,890	69,386	58,270	54,268
115C		Public Buildings - Construction		13,695	37,968
115D		Public Buildings - Land, Equipment, and Existing Structures				80,765	202,967
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 - Salaries	472,388	410,296	369,943	420,989	346,027	336,583
118B		General Government All Other - All other Direct	341,585	229,053	139,921	131,760	135,476	123,069
118C		General Government All Other - Construction	674,270				37,809
118D		General Government All Other - Land, Equipment, and Existing Structures	7,615	75,234	4,995	31,976		5,886
119A	PUBLIC	Police and Communications - Salaries	1,322,249	1,192,766	1,199,670	1,195,236	1,071,572	1,033,222
119B	SAFETY	Police and Communications - All other Direct	360,333	300,951	334,481	327,753	324,374	271,499
119C		Police and Communications - Construction	115,910
119D		Police and Communications - Land, Equipment and Existing Structures	76,735	93,298	92,813	89,509	68,273	97,958
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 - Salaries	720,360	640,359	585,098	480,900	411,975	417,757
122B		Fire - All other Direct	365,666	649,894	511,768	413,680	387,989	337,494
122C		Fire - Construction		6,294	106,352	1,105,040	245,562	25,386
122D		Fire - Land, Equipment, and Existing Structures	62,753	163,258	33,869	803,188	27,158	111,313
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
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	250,782	241,923	210,904	221,217	225,257	226,599
128B		Streets and Highways - All other Direct	528,596	525,722	491,897	422,475	383,119	377,018
128C		Streets and Highways - Construction	80,180		65,282	34,861	130,462	203,569
128D		Streets and Highways - Land, Equipment and Existing Structures	60,704	259,697	59,185	23,023	57,121
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 - Salries	81,360	79,310	86,002	64,943	79,657	73,261
130B		State Street Aid Allocation - Powell Bill - All other Direct	143,771	131,000	140,440	103,358	126,399	99,760
130C		State Street Aid Allocation - Powell Bill - Construction				22,289	1,145
130D		State Street Aid Allocation - Powell Bill - Land, Equipment, and Existing Structures	43,622		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
136A	ENVIRON	Solid Waste - Salaries	350,538	334,571	335,519	298,885	282,183	267,095
136B	MENTAL	Solid Waste - All other Direct	291,025	268,303	276,892	243,814	254,574	224,993
136C	PROTECTION	Solid Waste - Construction
136D		Solid Waste - Land, Equipment, and Existing Structures	151,895	173,026	58,895	7,268	40,525	139,207
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 - Salaries	184,401	162,673	151,297	81,370	61,259	51,022
138B		Cemeteries - All other Direct	112,242	107,663	116,710	55,824	48,147	49,994
138C		Cemeteries - Construction		2,825
138D		Cemeteries - Land, Equipment, and Existing Structures	7,629			16,047	18,640
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
140A	ECONOMIC	Planning and Zoning - Salaries	179,381	152,636	149,662	157,950	157,372	170,850
140B	& PHYSICAL	Planning and Zoning - All other Direct	109,775	78,236	68,855	62,378	61,900	60,270
140C	DEVELOP	Planning and Zoning - Construction
140D		Planning and Zoning - Land, Equipment, and Existing Structures	21,314
141A		Economic Development - Salaries
141B		Economic Development - All other Direct	56,819	53,826	55,349	81,584	75,119	26,438
141C		Economic Development - Construction		91,683	757,931	94,438	119,817	46,840
141D		Economic Development - Land, Equipment, and Existing Structures	11,551	21,743
142A		Community Development - Salaries
142B		Community Development - All other Direct
142C		Community Development - Construction	28,733				68,236	6,091
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
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				81,371	61,259	51,023
153B	RECREATION	Recreation and Parks - All other Direct				54,194	48,146	103,060
153C		Recreation and Parks - Construction
153D		Recreation and Parks - Land, Equipment, and Existing Structures				17,647	18,640
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
158A	UTILITY	Water and Sewer - Salaries	695,972	691,281	727,697	731,383	731,589	665,333
158B		Water and Sewer - All other Direct	1,465,540	1,406,199	1,451,044	1,135,021	1,226,737	1,120,006
158C		Water and Sewer - Construction	86,898	21,082	156,197	685,124	12,566	480,675
158D		Water and Sewer - Land, Equipment, and Existing Structures	195,347	59,143	102,460	66,726	415,900
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
161B	DEBT	Water and Sewer - Debt Service Interest Payments	131,858	148,905	165,904	482,175	198,181	224,956
161D	SERVICE	Water and Sewer - Debt Service Principal Payments	457,450	462,668	461,290	182,855	482,468	496,414
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 Payments	111,581	119,140	64,616	197,075	24,114	47,077
166D		All Other - Debt Service Principal Payments	213,325	205,767	1,741,669	74,378	121,075	109,705
167B	PENSION	Direct Benefit Program - Pension Fund operated by the Unit
168B	FRINGE	Fringe Benefits Unallocated - (B)
169B		Separation Allowance - Law Enforcement Officers -(B)					10,100	3,972
170B		Separation Allowance - Other Employees - (B)
171B		Supplemental Retirement Income Plan for Law Enforcement Officers - (B)	50,597	45,068	45,913	45,641	41,412	39,824
172B		Fringe Benefits Other - (B)	14,340	3,021	10,366	5,527	1,908	1,332
173A		Multi-County Library District, County, or Other Municipality Authority				County	County	County
173B	INTERGOV	Multi-County Library District, County, or Other Municipality (Item number)				156	156	156
173C	EXPEND	Multi-County Library District, County, or Other Municipality (Amount)				19,396	18,749	18,189
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 #1	Western Piedmint Transist	Piedmont Wagon	City of Hickory	City of Hickory/Piedmont wagon	Piedmont Wagon Transit	Piedmont Wagon Mass Transit
176B		Others - 1 (B)	132	132	132	132	132	132
176C		Others - 1 (C)	77,902	83,000	62,500	64,892	52,363	50,894
177A		Others - Name of Payee #2	Hickory Water Plant Exp.	Hickory Water Plant Expan.	City of Hickory	City of Hickory	Sludge Composition Facility	Sludge Composition Facility
177B		Others - 2 (B)	158	158	158	158	158	158
177C		Others - 2 (C)	11,163	11,817	12,405	240,544	203,286	212,980
178A		Others - Name of Payee #3	Newton Sewer Plant capacity	Newton Sewer Plant	City of Newton	City of Newton	Hickory Water Plant Expansion	Hickory Water Plant Expansion
178B		Others - 3 (B)	158	158	158	158	158	158
178C		Others - 3 (C)	28,900	28,900	28,900	1,570,250	13,639	14,240
179	PART 6	Current Year Levy Excluding Motor Vehicles	3,938,799	3,706,682	3,405,990	3,458,948	3,157,484	3,056,853
180	OTHER	Current Year Levy Motor Vehicles Only	274,269	241,754	255,953	245,107	232,911	250,796
181	DATA	Uncollected Taxes - Current Year's Levy - Excluding Motor Vehicles	69,505	68,274	72,688	47,136	47,834	29,956
182		Uncollected Taxes - Current Year's Levy - Motor Vehicles	39,708	36,177	37,537	34,426	24,866	35,401
183		Percentage of Taxes Collected - Current Year All Property	97.41	97.35	96.99	97.80	97.86	98.02
184		Percentage of Taxes Collected - Current Year - Excluding Motor Vehicles	98.24	98.16	97.87	98.64	98.49	99.02
185		Percentage of Taxes Collected - Current Year - Motor Vehicles	85.52	85.04	85.33	85.95	89.32	85.88
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
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					17,356	32,868
189C	INVEST	Cash on Hand and in Bank, and Securities - All Other	12,341,222	10,071,777	9,972,272	9,984,232	12,495,612	11,267,811
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	15,374,647	13,577,031	15,052,835	12,174,621	12,548,681	14,153,298
194B	FISCAL	Amounts - Subtract proceeds of refunding debt
194C	SUMMARY	Amounts - Subtract interfund transfers in	1,980,702	2,150,908	2,163,311	1,422,152	1,188,395	1,758,386
194D		Amounts - Net Revenues per AFIR	13,393,945	11,426,123	12,889,524	10,752,469	11,360,286	12,394,912
		Calculated amount	13,393,945	11,426,123	12,889,524	10,752,469	11,360,286	12,394,912
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference
195A		Amounts - Total Expenditures and other financing sources per audit	13,622,911	13,136,384	14,991,721	14,982,766	11,171,310	10,893,124
195B		Amounts - Subtract payments to refunding debt escrow agent
195C		Amounts - Subtract interfund transfers out	1,980,702	2,150,908	2,163,311	1,422,152	1,188,395	1,758,386
195D		Amounts Net Expenditures per AFIR	11,642,209	10,985,476	12,828,410	13,560,614	9,982,915	9,134,738
		Calculated amount	11,642,209	10,985,476	12,828,410	13,560,614	9,982,915	9,134,738
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference

	PART 10

950		Name of Official Signatory	Vickie Schlichting
951		Title of Official	Finance Director
952		Date Certified	11/14/2008	10/29/2007	11/07/2006
953		Person to Contact	Vickie Schlichting
954		Title of Person to Contact	Finance Director
955		Telephone Number	828-464-1191
956		Facsimile Number	828-465-5177

Go to top of page Key Ratios and Operations Statistics of Water and Sewer Systems for
City of Conover

	2008	2007	2006	2005	2004	2003

Population	7,922	7,792	7,652	7,510	7,040	7,002
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	$3,250,963	3,222,901	3,242,949	3,071,061	3,001,013	2,985,636
Total Operating Revenues Per Capita	$410	414	424	409	426	426
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	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	4.87	5.75	4.98	5.14	8.22	9.20
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	35.5	37.8	34.6	35.8	33.9	29.8
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	616.5	566.8	498.1	547.5	886.7	1,037.5
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	$1,255,875	1,036,196	1,028,630	924,719	788,950	1,048,990

Debt to Equity	0.10	0.12	0.14	0.16	0.16	0.18
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	355	420	488	558	596	638
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
	$282,245	80,225	258,657	751,850	428,466	480,675

	2002	2001	2000	1999
	$239,444	1,259,150	1,455,326	1,188,971

Capital Contributions: Excluded from income above	$197,408	535,742	795,284	258,626	1,651,916	372,417


Operating Statistics

Estimated population of the areas served Water	0	5,431	NA	NA	NA	NA
Estimated population of the areas served Sewer	0	3,345	NA	NA	NA	NA

Number of Gallons of Water Processed (000) omitted	779	682,814	NA	NA	NA	NA
Number of Gallons of Sewage Processed (000) omitted	433	300,055	NA	NA	NA	NA

Number of Gallons of Water Billed (000) omitted	577,580	551,528	NA	NA	NA	NA
Number of Gallons of Sewage Billed (000) omitted	295,916	286,179	NA	NA	NA	NA

Ratio of Water Billed to Water Processed	741.43774	0.80773	NA	NA	NA	NA
Ratio of Sewage Billed to Sewage Processed	683.40878	0.95376	NA	NA	NA	NA

Total Revenue from Water Sales	1,589,956	1,496,118	NA	NA	NA	NA
Total Revenue from Sewage Sales	1,490,320	1,106,744	NA	NA	NA	NA

Water Revenue per 1000 gallons of Sales		275.47744	NA	NA	NA	NA
Sewage Revenue per 1000 gallons of Sales		330.86517	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	$3.78894	3.93674	NA	NA	NA	NA
Residential Sewage Sales per thousand Gallons	$4.56549	4.66148	NA	NA	NA	NA

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

Total Water Sales per thousand gallons for Redistribution	$0.00000	122,147.00000	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

Go to top of page

Analysis of Available Fund Balance: General Fund

	2004	2005	2006	2007	2008
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

Go to top of page

2004 2005 2006 2007 2008

Municipality 97.86% 97.80% 96.99% 97.35% 97.41%

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	97.86%	97.80%	96.99%	97.35%	97.41%
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

Go to top of page

2004 2005 2006 2007 2008

Municipality 249 216 196 176 158

Pop. Group 171 131 117 93 71

Statewide 548 505 495 478 456

Municipal Population Group: 5,000 to 9,999

	2004	2005	2006	2007	2008
Municipality	249	216	196	176	158
Pop. Group	171	131	117	93	71
Statewide	548	505	495	478	456

Municipal Population Group: 5,000 to 9,999

Go to top of page

2004 2005 2006 2007 2008

Property Tax $482 493 472 505 528

Utility 425 418 425 412 421

Sales Tax 199 185 201 216 225

Sales & Services 26 25 26 27 25

Intergovernmental 203 164 235 194 166

Debt Proceeds 234 93 250 0 238

Other Miscellaneous 45 54 75 112 88

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

	2004	2005	2006	2007	2008
Property Tax	$482	493	472	505	528
Utility	425	418	425	412	421
Sales Tax	199	185	201	216	225
Sales & Services	26	25	26	27	25
Intergovernmental	203	164	235	194	166
Debt Proceeds	234	93	250	0	238
Other Miscellaneous	45	54	75	112	88
Total	$1,614	1,432	1,684	1,466	1,691

Go to top of page

2008
2008

Category Revenue
Per Capita

Property Tax $4,182,164
$528

Water/Sewer 3,339,065
421

Electric 0
0

Other Utilities 0
0

Sales Tax 1,780,345
225

Sales & Services 196,587
25

Intergovernment 1,311,633
166

Debt Proceeds 1,883,364
238

Miscellaneous 700,787
88

Total $13,393,945
$1,691

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

Go to top of page

2008
2008

Category Expenditures
Per Capita

General Government $2,383,012
$302

Water/Sewer 2,443,757
308

Electric 0
0

Other Utilities 0
0

Debt Service 914,214
115

Transportation 1,189,015
150

Public Safety 3,074,603
388

Other 1,637,608
207

Total $11,642,209
$1,470

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

Go to top of page

2008
2008

Category Expenditures
Per Capita

Salaries & Wages $4,729,213
$597

Water/Sewer Capital 282,245
36

Electric Capital 0
0

Other Capital 1,342,911
170

Other Operating 5,287,840
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



	2008	2008
Category	Revenue	Per Capita
Property Tax	$4,182,164	$528
Water/Sewer	3,339,065	421
Electric	0	0
Other Utilities	0	0
Sales Tax	1,780,345	225
Sales & Services	196,587	25
Intergovernment	1,311,633	166
Debt Proceeds	1,883,364	238
Miscellaneous	700,787	88
Total	$13,393,945	$1,691

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

North CarolinaDepartment of State TreasurerFinancial InformationCity of Conover

Financial Graphs and Comparisons

North Carolina
Department of State Treasurer
Financial Information
City of Conover