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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200920082007200620052004

Revenues by Source







Property Tax$4,196,312 4,182,164 3,931,456 3,608,720 3,705,686 3,395,814


Utility 3,539,252 3,339,065 3,207,155 3,251,297 3,142,622 2,993,862


Sales Tax 1,531,043 1,780,345 1,695,608 1,541,920 1,379,795 1,391,634


Sales & Services 243,178 196,587 211,346 195,797 185,161 181,481


Intergovernmental 1,702,916 1,311,633 1,509,888 1,801,204 1,231,701 1,428,444


Debt Proceeds 1,917,230 1,883,364 - 1,915,000 700,000 1,650,000


Other Miscellaneous 468,751 700,787 870,670 575,586 407,504 319,051


Total$13,598,682 13,393,945 11,426,123 12,889,524 10,752,469 11,360,286










Expenditures by Function







Utility$2,384,246 2,443,757 2,177,705 2,437,398 2,618,254 2,386,792


Debt Service 2,763,801 914,214 936,480 2,433,479 936,483 825,838


Transportation 1,450,611 1,189,015 1,237,652 1,066,225 892,166 1,003,160


General Government 1,913,515 2,383,012 1,967,828 1,355,836 1,499,385 1,572,948


Public Safety 4,111,094 3,074,603 3,091,888 2,909,964 4,460,947 2,588,415


Other 2,456,337 1,637,608 1,573,923 2,625,508 3,153,379 1,605,762


Total$15,079,604 11,642,209 10,985,476 12,828,410 13,560,614 9,982,915










Expenditures by Object







Salaries & Wages$4,968,722 4,729,213 4,355,802 4,260,085 4,211,334 3,872,748


Capital Outlay 3,112,022 1,625,156 980,978 2,028,689 3,099,744 1,464,821


Other Operating + Debt Service 6,998,860 5,287,840 5,648,696 6,539,636 6,249,536 4,645,346


Total$15,079,604 11,642,209 10,985,476 12,828,410 13,560,614 9,982,915



















Per Capita Revenues by Source







Property Tax$523 528 505 472 493 482


Utility 442 421 412 425 418 425


Sales Tax 192 225 216 201 185 199


Sales & Services 30 25 27 26 25 26


Intergovernmental 212 166 194 235 164 203


Debt Proceeds 239 238 - 250 93 234


Other Miscellaneous 58 88 112 75 54 45


Total$1,696 1,691 1,466 1,684 1,432 1,614










Per Capita Expenditures by Function







Utility$297 308 279 319 349 339


Debt Service 345 115 120 318 125 117


Transportation 181 150 159 139 119 142


General Government 239 302 253 177 199 224


Public Safety 513 388 397 380 594 368


Other 306 207 202 343 420 228


Total$1,881 1,470 1,410 1,676 1,806 1,418










Per Capita Expenditures by Object







Salaries & Wages$620 597 559 557 561 550


Capital Outlay 388 205 126 265 413 208


Other Operating 873 668 725 854 832 660


Total$1,881 1,470 1,410 1,676 1,806 1,418










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 119 117 120 119 116 114


Average Population In Group 4,614 4,782 4,848 4,820 4,759 4,871


City of Conover Population 8,016 7,922 7,792 7,652 7,510 7,040

Group Average Per Capita Revenues by Source







Property Tax 345 342312306296284


Utility 313 319316326307292


Sales Tax 140 162158154146140


Sales & Services 86 8279747068


Intergovernmental 184 184176160165184


Debt Proceeds 212 176109956577


Other Miscellaneous 105 12716112611097


Total 1,385 1,3921,3111,2411,1591,142










Group Average Per Capita Expenditures by Function







Utility 415 381334305290305


Debt Service 101 1059798101104


Transportation 95 113112112105100


General Government 185 172160156154159


Public Safety 317 325312280268261


Other 218 235237209218199


Total 1,331 1,3311,2521,1601,1361,128










Group Average Per Capita Expenditures by Object







Salaries & Wages 430 425408390385359


Capital Outlay 320 287254205179208


Other Operating 581 619590565572561


Total 1,331 1,3311,2521,1601,1361,128


















General Fund
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200920082007200620052004

General Fund revenues$7,189,875 7,591,128 7,208,621 6,576,237 6,391,030 6,122,499

General Fund expenditures 9,262,832 7,369,278 6,686,938 8,392,531 6,156,806 5,695,733

Operating transfers in 596,887 585,402 360,268 463,000 435,000 385,000

Operating transfers out 1,340,419 703,309 655,792 585,945 473,257 500,743

Capital leases and installment purchase proceeds 1,917,230 - 21,680 1,915,000 - -

Other items - 2,628 - - - -

Excess of revenues and other sources over (under) expenditures and other uses (899,259) 106,571 247,839 (24,239) 195,967 311,023










Fund balance available (FBA):







In dollars$3,139,086 3,861,199 3,961,683 3,838,823 3,874,842 3,636,997


FBA as a % of GF Net Expenditures:







Unit's FBA %36.1447.8354.1154.3558.4458.69


Group weighted average FBA %70.0865.0764.3162.3262.2161.38


State weighted average Non-Electric Group37.7736.6337.3837.3836.8236.42


State weighted average FBA %37.0036.3436.5536.9636.7836.35

















Enterprise Funds:
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Water/Sewer













Combined financial results:







Working capital$3,672,398 3,232,030 3,035,877 2,692,431 2,815,829 4,896,461


Quick ratio6.09 4.87 5.75 4.98 5.14 8.22


Net income405,662 174,984 532,843 715,357 132,737 1,548,881


Cashflow from operations1,020,171 1,255,875 1,036,196 1,028,630 924,719 788,950


Depreciation & Amortization Expense782,615 772,666 758,101 723,955 694,839 517,321


























Cash, Investments and Financing
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200920082007200620052004











Population at July 1st of the Previous Year8,0167,9227,7927,6527,5107,040


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$10,578,731 12,341,222 10,071,777 9,972,272 9,984,232 12,495,612


Investment Earnings232,882 492,740 544,431 383,029 220,557 129,004


Tax Rate Equivalent0.02240.04810.05470.03980.02270.0137


Tax Rate Equivalent Group weighted average0.01290.02960.04390.03220.02120.0115


Tax Rate Equivalent Statewide weighted average0.01330.05240.09200.05730.04150.0340


Latest year of Revaluation
20072003200320032003


January 1, Prior Year Assessed Valuation$1,040,551,655 1,024,820,288 995,412,419 963,213,402 972,569,787 942,163,909


Tax Rate0.40000.40000.40000.38000.38000.3600


Tax Rate Group weighted average0.27100.26820.31260.31910.36260.3759


Tax Rate State Wide0.42670.42430.44520.43210.44480.4566


Assessment -to-Sales Ratio97.9488.8494.5896.4799.3099.65


Assessment -to-Sales Ratio Group weighted average92.2190.9283.4791.5285.3189.22


Assessment -to-Sales Ratio Statewide90.8188.5288.4192.2892.3592.18


Assessed Valuation Adjusted for Assesment to Sales Ratio$1,062,437,875 1,153,557,281 1,052,455,508 998,459,005 979,425,767 945,473,065


EffectiveTax Rate0.39180.35540.37830.36660.37730.3587


Group weighted average Effective Tax Rate0.24990.24380.26100.29210.30930.3354


Statewide weighted average Effective Tax Rate0.38750.37560.39360.39870.41080.4209


Percent Collected96.2897.4197.3596.9997.8097.86


Percent Collected Group weighted average97.2096.7296.7696.7296.8596.72


Percent Collected Statewide97.7897.6497.5997.5597.4297.31


Percent Collected Excluding Motor Vehicles96.9598.2498.1697.8798.6498.49


Percent Collected Excluding Motor Vehicles Group weighted average97.5598.0898.0098.0897.9698.15


Percent Collected Excluding Motor Vehicles Statewide weighted average98.3198.6598.5998.6198.3698.39


Percent Collected Motor Vehicles Only 85.7185.5285.0485.3385.9589.32


Percent Collected Motor Vehicles Only Group weighted average85.1585.7586.0486.2285.8785.65


Percent Collected Motor Vehicles Only Statewide weighted average 86.6686.7486.7186.8087.3187.46


Tax Uncollected36,565 109,213 104,451 110,225 81,562 72,700


Tax Rate Equivalent0.00350.01070.01050.01140.00840.0077


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$1,125,000 1,250,000 1,375,000 1,500,000 1,625,000 1,750,000


General Government GO Debt0 0 0 0 0 0


Total General Obligation Debt1,125,000 1,250,000 1,375,000 1,500,000 1,625,000 1,750,000


Per Capita$140 158 176 196 216 249


Total Per Capita for the Population Group69 71 93 117 131 171


Total Per Capita Statewide455 456 478 495 505 548


Total per Assessed Valuation Adjusted for Current Year Sales0.1059%0.1084%0.1306%0.1502%0.1659%0.1851%


Total per Assessed Valuation Adjusted for Current Year Sales- Group Average0.0531%0.0577%0.0861%0.1199%0.1450%0.2078%


Total per Assessed Valuation Adjusted for Current Year Sales - Statewide0.3909%0.4131%0.4706%0.5275%0.5588%0.6442%


Total Authorized but not Issued General Obligation Debt
















Installment Sales Purchases and Lease Obligations







--Enterprise$0 0 0 0 0 0


--General Government105,116 2,055,317 307,367 438,180 2,064,548 2,186,623


Total*$105,116 2,055,317 307,367 438,180 2,064,548 2,186,623


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




Revenue Bond Debt $1,114,000 1,365,400 1,616,800 1,868,200 2,119,600 2,371,000


















Annual Financial Information Report Detail
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LineSectionDescription200920082007200620052004

Population at July 1st of the Previous Year Adjusted for Boundry Changes8,0167,9227,7927,6527,5107,040









1ANon GASB34General Fund Assets





1BFISCAL General Fund Liabilities





2ASUMMARYDebt-service Assets





2B
Debt service Liabilities





3A
Enterprise Assets





3B
Enterprise Liabilities





4A
Internal Service Assets





4B
Internal service Liabilities





5A
Special Revenue Assets





1.5AGASB34Governmental Activities Assets32,842,35332,950,04630,547,26129,178,74228,110,27126,805,129
1.5BFISCAL Governmental Activities Liabilities4,931,9875,109,5543,219,0263,475,9833,297,9512,671,568
3.5ASUMMARYBusiness Type Activities Assets30,826,52630,924,30131,005,08130,599,77930,686,26430,987,446
3.5B
Business Type Activities Liabilties2,706,5903,203,6333,464,1723,957,8234,410,0414,883,608
6.5A
Fiduciary Funds Assets270,213261,428248,075232,825209,810
6.5B
Fiduciary Funds Liabilties



284
5B
Special Revenue Liabilities





6A
Trust & Agency Assets





6B
Trust & Agency Liabilities





7A
Capital Project Assets





7B
Capital Project Liabilities





8A
General Fixed Assets





9B
General Long term debt - Liabilities





10PART 2Current collections of unit-wide levy4,092,2184,103,8553,843,9863,551,7183,622,4933,317,694
11TAXCurrent collection of special tax districts80,12875,58968,54850,86950,48442,135
12REVENUESPrior years' levy collections85,40864,14370,67944,56064,63065,600
13
Penalties and interest18,68614,16616,79112,44218,56312,520
14
Collection of taxes previously written off





15
Animal tax





15.1
Solid Waste Disposal Tax





16
1% Local government sales and use tax660,056802,167738,135677,555656,770650,601
17
1/2% Local government sales and use taxes (Article 40)299,671332,510325,444291,293236,275241,707
18
1/2% Local government sales and use taxes (Article 42)295,927328,949322,058288,596233,794256,271
18.5
1/2% Local government sales and use taxes (Article 44)275,389316,719309,971284,476252,956243,055
19
Licenses Privilege




3,402
19.1
Privilege - Occupational & business licensing & permit taxes3,7833,2533,1962,8972,739
19.2
Privilege -- All other privileges and pemits





20
General Municipal Vehicle Tax





21
Vehicle Tax for Public Transportation





22
Other licenses - Include CATV84,16280,916107,66763,36058,53458,097
23
Local occupancy tax





24
Prepared food tax





25
911 charges





26
Gross Receipts Tax on Short Term Vehicles Leases1,4851,4042,0711,6181,2741,361
27FEDERALFEDERAL Payment in lieu of taxes





28INTERGOVEquitable sharing of Federally forfeited property1,6856,2423,804

5
29REVENUESGeneral government





30
Public safety83,29525,288215,57950,39124,5331,198
31
Transportation - Streets
5,60844,158


32
Transportation - All other





33
Utility franchise tax





34
Housing/community development458,26822,723


68,916
35
All Other

69,509280,00033,54084,434
36
Human services: Health, mental health, hospitals





37
All other





38
Culture and recreation





39STATEState Payment in Lieu of Taxes





40INTERGOVControlled substance tax2,0173,11910,5813,4455,779572
41REVENUESIntangibles tax reimbursement + Transistional Hold Harmless Revenues154,432161,857178,792200,332223,025223,025
42
Wireless Enhanced 911 Service Charges





43
Piped Natural Gas Charge Distribution86,68890,47591,61390,78295,072118,393
44
Utility franchise tax615,465627,859584,947578,237564,132673,924
45
Beer and Wine tax35,57835,89334,57733,17131,16130,072
46
Powell Bill259,340287,585254,002255,539242,224215,676
47
Food stamp purchases tax reimbursement





48
Inventories tax reimbursements





49
Senior Citizens Exemption - 50%





50
Court fees - Facilities and arrest fees3,6483,6053,8195,5674,8753,354
51
General Government


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

53
Transportation - Streets





54
Transportation - All other
20,000



55
Environmental protection
14,071

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 government2,5005,0009,780


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 royalties64,46464,46463,72366,39162,07753,470
76
Airport





77
Fire protection charges
16,43416,43516,27016,21515,973
78
Solid waste149,09695,44693,68491,81589,74787,938
79
Ambulance and rescue squad charges





80
Cemeteries17,90013,00013,72516,70010,85012,900
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 services11,7187,24323,7794,6216,272
86UTILITYWater and sewer charges3,539,2523,339,0653,207,1553,251,2973,142,6222,993,862
87REVENUESElectric charges





88
Gas charges





88.1
Storm Water Fees





89MISC.On bond proceeds



1,452295
90REVENUESOn general and all other funds232,882492,740544,431383,029220,557129,004
91
Special assessments


50080159
92
Private contribution and donations
2,34023,75025,8551,725
93
Sales of materials and fixed assets35,44916,83871,662
4,8663,257
94
Sales of real property





95
Nongovernment contributions for streets and traffic signals





96
Mixed drink surcharge





97
ABC profit distribution





98
Other miscellaneous revenues30,86227,70728,20325,66023,82758,228
99
Proceeds of the sale of bonds and notes





100
Proceeds of capital leases and installment purchases1,917,2301,883,364
1,915,000700,0001,650,000
101
Other

21,14221,79841,96623,113
102NON-REVSupplemental schools taxes - current levy collections





103RECEIPTSPrior years' levy collections





104
Tax collections for units other than reporting unit





105
Utilities customers' deposits7,97819,08524,9272028551,241
106
Deposits other than utility16,387-6,723-30,7166,097-7,30920,179
107
Prepaid taxes1,101
-2,9602,960201-4,767
108
Prepaid privilege licenses-733321-6213481-281
109APART 4Governing body - Salaries





109BGENERALGoverning body - All other Direct123,365119,040133,124102,274100,884100,845
109CGOVTGoverning body - Construction





109D
Governing body - Land, Equipment and Existing Structures



21,843
110A
Administration - Salaries496,227471,782449,987444,293477,090444,598
110B
Administration - All other Direct107,584138,812138,377158,257146,974233,004
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 Direct65,63560,83730,94015,29517,71813,952
114C
Legal - Construction





114D
Legal - Land, Equipment, and Existing Structures





115A
Public Buildings - Salaries





115B
Public Buildings - All other Direct100,67996,683487,12282,89069,38658,270
115C
Public Buildings - Construction82,240
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 - Salaries510,019472,388410,296369,943420,989346,027
118B
General Government All Other - All other Direct402,582341,585229,053139,921131,760135,476
118C
General Government All Other - Construction
674,270


37,809
118D
General Government All Other - Land, Equipment, and Existing Structures25,1847,61575,2344,99531,976
119APUBLICPolice and Communications - Salaries1,311,4051,322,2491,192,7661,199,6701,195,2361,071,572
119BSAFETYPolice and Communications - All other Direct320,447360,333300,951334,481327,753324,374
119C
Police and Communications - Construction1,043,311115,910



119D
Police and Communications - Land, Equipment and Existing Structures159,58776,73593,29892,81389,50968,273
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 - Salaries797,141720,360640,359585,098480,900411,975
122B
Fire - All other Direct317,367365,666649,894511,768413,680387,989
122C
Fire - Construction

6,294106,3521,105,040245,562
122D
Fire - Land, Equipment, and Existing Structures110,71562,753163,25833,869803,18827,158
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 - Salaries271,474250,782241,923210,904221,217225,257
128B
Streets and Highways - All other Direct533,879528,596525,722491,897422,475383,119
128C
Streets and Highways - Construction
80,180
65,28234,861130,462
128D
Streets and Highways - Land, Equipment and Existing Structures264,62360,704259,69759,18523,02357,121
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 - Salries87,28181,36079,31086,00264,94379,657
130B
State Street Aid Allocation - Powell Bill - All other Direct164,640143,771131,000140,440103,358126,399
130C
State Street Aid Allocation - Powell Bill - Construction



22,2891,145
130D
State Street Aid Allocation - Powell Bill - Land, Equipment, and Existing Structures128,71443,622
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 - Salaries385,309350,538334,571335,519298,885282,183
136BMENTALSolid Waste - All other Direct302,355291,025268,303276,892243,814254,574
136CPROTECTIONSolid Waste - Construction





136D
Solid Waste - Land, Equipment, and Existing Structures142,899151,895173,02658,8957,26840,525
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 - Salaries167,850184,401162,673151,29781,37061,259
138B
Cemeteries - All other Direct129,909112,242107,663116,71055,82448,147
138C
Cemeteries - Construction

2,825


138D
Cemeteries - Land, Equipment, and Existing Structures6,0557,629

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 - Salaries182,092179,381152,636149,662157,950157,372
140B& PHYSICALPlanning and Zoning - All other Direct57,949109,77578,23668,85562,37861,900
140CDEVELOPPlanning and Zoning - Construction





140D
Planning and Zoning - Land, Equipment, and Existing Structures
21,314



141A
Economic Development - Salaries





141B
Economic Development - All other Direct58,72356,81953,82655,34981,58475,119
141C
Economic Development - Construction440,566
91,683757,93194,438119,817
141D
Economic Development - Land, Equipment, and Existing Structures
11,55121,743


142A
Community Development - Salaries





142B
Community Development - All other Direct





142C
Community Development - Construction485,03828,733


68,236
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



81,37161,259
153BRECREATIONRecreation and Parks - All other Direct



54,19448,146
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 - Salaries759,924695,972691,281727,697731,383731,589
158B
Water and Sewer - All other Direct1,401,2321,465,5401,406,1991,451,0441,135,0211,226,737
158C
Water and Sewer - Construction120,68286,89821,082156,197685,12412,566
158D
Water and Sewer - Land, Equipment, and Existing Structures102,408195,34759,143102,46066,726415,900
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 Payments
131,858148,905165,904482,175198,181
161DSERVICEWater and Sewer - Debt Service Principal Payments
457,450462,668461,290182,855482,468
162B
Electric - Debt Service Interest Payments458,927




162D
Electric - Debt Service Principal Payments114,761




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 Payments2,031,185111,581119,14064,616197,07524,114
166D
All Other - Debt Service Principal Payments158,928213,325205,7671,741,66974,378121,075
167BPENSIONDirect Benefit Program - Pension Fund operated by the Unit





168BFRINGEFringe Benefits Unallocated - (B)





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




10,100
170B
Separation Allowance - Other Employees - (B)





171B
Supplemental Retirement Income Plan for Law Enforcement Officers - (B)51,12150,59745,06845,91345,64141,412
172B
Fringe Benefits Other - (B)3,61214,3403,02110,3665,5271,908
173A
Multi-County Library District, County, or Other Municipality Authority



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



156156
173CEXPENDMulti-County Library District, County, or Other Municipality (Amount)



19,39618,749
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 Piedmont TransitWestern Piedmint TransistPiedmont WagonCity of HickoryCity of Hickory/Piedmont wagonPiedmont Wagon Transit
176B
Others - 1 (B)132132132132132132
176C
Others - 1 (C)55,08577,90283,00062,50064,89252,363
177A
Others - Name of Payee #2City of HickoryHickory Water Plant Exp.Hickory Water Plant Expan.City of HickoryCity of HickorySludge Composition Facility
177B
Others - 2 (B)158158158158158158
177C
Others - 2 (C)10,57011,16311,81712,405240,544203,286
178A
Others - Name of Payee #3City of NewtonNewton Sewer Plant capacityNewton Sewer PlantCity of NewtonCity of NewtonHickory Water Plant Expansion
178B
Others - 3 (B)158158158158158158
178C
Others - 3 (C)28,32528,90028,90028,9001,570,25013,639
179 PART 6Current Year Levy Excluding Motor Vehicles3,995,2813,938,7993,706,6823,405,9903,458,9483,157,484
180 OTHERCurrent Year Levy Motor Vehicles Only255,219274,269241,754255,953245,107232,911
181 DATAUncollected Taxes - Current Year's Levy - Excluding Motor Vehicles121,81269,50568,27472,68847,13647,834
182
Uncollected Taxes - Current Year's Levy - Motor Vehicles36,46939,70836,17737,53734,42624,866
183
Percentage of Taxes Collected - Current Year All Property96.2897.4197.3596.9997.8097.86
184
Percentage of Taxes Collected - Current Year - Excluding Motor Vehicles96.9598.2498.1697.8798.6498.49
185
Percentage of Taxes Collected - Current Year - Motor Vehicles85.7185.5285.0485.3385.9589.32
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




17,356
189CINVESTCash on Hand and in Bank, and Securities - All Other10,578,73112,341,22210,071,7779,972,2729,984,23212,495,612
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 audit16,827,58715,374,64713,577,03115,052,83512,174,62112,548,681
194BFISCALAmounts - Subtract proceeds of refunding debt





194CSUMMARYAmounts - Subtract interfund transfers in3,228,9051,980,7022,150,9082,163,3111,422,1521,188,395
194D
Amounts - Net Revenues per AFIR13,598,68213,393,94511,426,12312,889,52410,752,46911,360,286


Calculated amount13,598,68213,393,94511,426,12312,889,52410,752,46911,360,286


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference





195A
Amounts - Total Expenditures and other financing sources per audit18,308,50913,622,91113,136,38414,991,72114,982,76611,171,310
195B
Amounts - Subtract payments to refunding debt escrow agent





195C
Amounts - Subtract interfund transfers out3,228,9051,980,7022,150,9082,163,3111,422,1521,188,395
195D
Amounts Net Expenditures per AFIR15,079,60411,642,20910,985,47612,828,41013,560,6149,982,915


Calculated amount15,079,60411,642,20910,985,47612,828,41013,560,6149,982,915


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference















PART 10















950
Name of Official SignatoryVickie Schlichting


951
Title of OfficialFinance Director


952
Date CertifiedNovermber 9, 200911/14/200810/29/2007


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













200920082007200620052004








Population
8,0167,9227,7927,6527,5107,040
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
$000000
Total Operating Revenues Per Capita
$000000
Group Weighted Average Revenues Per Capita02701469
State Weighted Average Revenues Per Capita2201215163








% to Total Operating Revenues






Operating Expenses
0.00%0.00%0.00%0.00%0.00%0.00%
Group Weighted Average
#DIV/0!71.48%#DIV/0!135.40%131.80%154.69%
State Weighted Average
287.00%89.94%84.21%104.54%119.75%338.51%








Operating Margin
0.00%0.00%0.00%0.00%0.00%0.00%
Group Weighted Average
#DIV/0!28.52%#DIV/0!-35.40%-31.80%-54.69%
State Weighted Average
-187.00%10.06%15.79%-4.54%-19.75%-238.51%








Operating Transfers In/(out)
0.00%0.00%0.00%0.00%0.00%0.00%
Group Weighted Average
#DIV/0!4.51%#DIV/0!-2.87%-57.18%24.81%
State Weighted Average
0.00%-0.70%-0.66%-1.84%-2.09%5.70%








Net Income before capital contributions
0.00%0.00%0.00%0.00%0.00%0.00%
Group Weighted Average
#DIV/0!296.26%#DIV/0!577.57%1261.79%829.88%
State Weighted Average
968.20%480.53%1193.75%778.98%531.01%2097.68%








Key Ratios and Cash Flow














Quick Ratio
6.094.875.754.985.148.22
Group Weighted Average
3.203.123.263.673.544.02
State Weighted Average
2.812.962.902.821.822.76








Days Sales in Receivables
N/AN/AN/AN/AN/AN/A
Group Weighted Average
#DIV/0!54.1#DIV/0!60.6119.9110.9
State Weighted Average
47.360.742.687.697.761.5








Days Cash on Hand
0.00.00.00.00.00.0
Group Weighted Average
-5.2-334.0-25.4-158.6-68.6-170.4
State Weighted Average
-46.5-344.5-221.9-343.5-346.7-208.8








Cash flow from Operations
$1,020,1711,255,8751,036,1961,028,630924,719788,950








Debt to Equity
0.000.000.000.000.000.00
Group Weighted Average
0.490.49#DIV/0!0.960.561.19
State Weighted Average
27.793.775.743.822.363.93








Debt per Capita
299355005580
Group Weighted Average
31868416592107
State Weighted Average
754535335660675266








Capital Expenditures:
200920082007200620052004


$223,090282,24580,225258,657751,850428,466










2003200220012000



$480,675239,4441,259,1501,455,326









Capital Contributions: Excluded from income above
$000000
















Operating Statistics














Estimated population of the areas served Water005,431NANANA
Estimated population of the areas served Sewer003,345NANANA








Number of Gallons of Water Processed (000) omitted551,582779682,814NANANA
Number of Gallons of Sewage Processed (000) omitted483,260433300,055NANANA








Number of Gallons of Water Billed (000) omitted525,397577,580551,528NANANA
Number of Gallons of Sewage Billed (000) omitted270,461295,916286,179NANANA








Ratio of Water Billed to Water Processed0.95253741.437740.80773NANANA
Ratio of Sewage Billed to Sewage Processed0.55966683.408780.95376NANANA








Total Revenue from Water Sales1,731,3581,589,9561,496,118NANANA
Total Revenue from Sewage Sales1,540,7771,490,3201,106,744NANANA








Water Revenue per 1000 gallons of Sales


275.47744NANANA
Sewage Revenue per 1000 gallons of Sales


330.86517NANANA








Group Average Sales per thousand Gallons Water$40.43905$1,510.62899$1,842.80047NANANA
Group Average Sales per thousand Gallons Sewage$34.24740$1,202.09823$1,724.69791NANANA








State Average Sales per thousand Gallons Water$28.47236$12,972.02948$5,350.70834NANANA
State Average Sales per thousand Gallons Sewage$41.46915$10,319.10819$3,921.08643NANANA








Residential Water Sales per thousand Gallons$4.459613.788943.93674NANANA
Residential Sewage Sales per thousand Gallons$5.015304.565494.66148NANANA








Water Sales per thousand Gallons outside Municipal Limits

4.98762NANANA
Sewage Sales per thousand Gallons outside Municipal Limits

8.84712NANANA








Total Water Sales per thousand gallons for Redistribution$0.000000.00000122,147.00000NANANA
Total Sewage Sales per thousand gallons for Redistribution$0.000000.000000.00000NANANA




Financial Graphs and Comparisons


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Analysis of Available Fund Balance:  General Fund

20052006200720082009
Unit's FBA %58.44%54.35%54.11%47.83%36.14%
Group average FBA %62.21%62.32%64.31%65.07%70.08%
State average Electric/Non Electric Group FBA %36.82%37.38%37.38%36.63%37.77%
State average FBA %36.78%36.96%62.21%36.34%37.00%






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

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Analysis of Property Tax

20052006200720082009
Municipality97.80%96.99%97.35%97.41%96.28%
Pop. Group96.85%96.72%96.76%96.72%97.20%
Statewide97.42%97.55%97.59%97.64%97.78%






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






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Analysis of General Obligation Debt

20052006200720082009
Municipality216196176158140
Pop. Group131117937169
Statewide505495478456455






Municipal Population Group: 5,000 to 9,999






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Analysis of Revenue

20052006200720082009
Property Tax$493472505528523
Utility418425412421442
Sales Tax185201216225192
Sales & Services2526272530
Intergovernmental164235194166212
Debt Proceeds932500238239
Other Miscellaneous54751128858
Total$1,4321,6841,4661,6911,696

Go to top of page
Analysis of Revenue for Fiscal 2009











2009
2009
CategoryRevenue
Per Capita
Property Tax$4,196,312
$523
Water/Sewer3,539,252
442
Electric0
0
Other Utilities0
0
Sales Tax1,531,043
192
Sales & Services243,178
30
Intergovernment1,702,916
212
Debt Proceeds1,917,230
239
Miscellaneous468,751
58
Total$13,598,682
$1,696





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





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Analysis of Expenditures by Function for Fiscal 2009











2009
2009
CategoryExpenditures
Per Capita
General Government$1,913,515
$239
Water/Sewer2,384,246
297
Electric0
0
Other Utilities0
0
Debt Service2,763,801
345
Transportation1,450,611
181
Public Safety4,111,094
513
Other2,456,337
306
Total$15,079,604
$1,881





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





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Analysis of Expenditures by Object for Fiscal 2009






2009
2009
CategoryExpenditures
Per Capita
Salaries & Wages$4,968,722
$620
Water/Sewer Capital223,090
28
Electric Capital0
0
Other Capital2,888,932
360
Other Operating6,998,860
873
Total$15,079,604
$1,881





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






Last Updated 6/11/2010 9:34:44 AM