North Carolina
Department of State Treasurer
Financial Information
Town of Cornelius

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

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

Municipality Revenues and Expenditures Financial Profile Go to top of page			2009	2008	2007	2006	2005	2004
	Revenues by Source
		Property Tax	$9,493,370	9,088,881	8,610,559	7,700,788	7,313,081	7,069,605
		Utility	4,337,916	5,066,388	4,348,319	4,040,184	3,895,118	3,424,724
		Sales Tax	2,274,258	2,596,339	2,340,783	2,217,266	2,310,494	1,849,389
		Sales & Services	338,510	343,120	295,682	246,331	269,831	192,056
		Intergovernmental	3,143,966	2,486,837	2,320,984	1,949,496	1,899,812	1,747,488
		Debt Proceeds	544,665	1,750,000	3,475,670	1,239,500	600,000	11,023,877
		Other Miscellaneous	2,469,939	3,223,322	3,465,830	2,798,452	3,629,800	3,076,886
		Total	$22,602,624	24,554,887	24,857,827	20,192,017	19,918,136	28,384,025

	Expenditures by Function
		Utility	$4,462,930	4,363,169	3,758,635	3,514,502	3,291,440	3,063,247
		Debt Service	2,694,376	4,330,754	2,504,138	2,925,358	2,886,607	5,858,968
		Transportation	2,505,342	2,531,863	2,761,397	2,357,259	4,471,031	5,867,187
		General Government	1,839,183	1,678,739	1,516,876	1,435,555	1,510,251	1,642,432
		Public Safety	6,106,648	7,532,067	5,444,935	4,691,929	4,502,148	3,757,593
		Other	4,597,909	4,432,502	4,791,193	4,258,400	3,853,935	2,813,827
		Total	$22,206,388	24,869,094	20,777,174	19,183,003	20,515,412	23,003,254

	Expenditures by Object
		Salaries & Wages	$4,773,385	4,564,989	4,345,494	3,889,059	3,680,003	3,574,908
		Capital Outlay	3,601,008	5,432,299	3,917,129	2,851,352	5,492,067	5,306,785
		Other Operating + Debt Service	13,831,995	14,871,806	12,514,551	12,442,592	11,343,342	14,121,561
		Total	$22,206,388	24,869,094	20,777,174	19,183,003	20,515,412	23,003,254


	Per Capita Revenues by Source
		Property Tax	$397	396	405	449	459	459
		Utility	181	221	205	236	245	222
		Sales Tax	96	114	109	130	145	121
		Sales & Services	14	15	14	14	17	12
		Intergovernmental	131	108	109	114	119	113
		Debt Proceeds	23	76	164	72	38	716
		Other Miscellaneous	103	140	163	163	228	200
		Total	$945	1,070	1,169	1,178	1,251	1,843

	Per Capita Expenditures by Function
		Utility	$187	190	177	205	207	199
		Debt Service	113	189	118	171	181	380
		Transportation	105	110	130	137	281	381
		General Government	76	74	71	84	95	107
		Public Safety	255	328	256	274	283	244
		Other	192	193	225	248	242	183
		Total	$928	1,084	977	1,119	1,289	1,494

	Per Capita Expenditures by Object
		Salaries & Wages	$199	199	204	227	231	232
		Capital Outlay	150	237	184	166	345	345
		Other Operating	579	648	589	726	713	917
		Total	$928	1,084	977	1,119	1,289	1,494

	Population Group		Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999
		Number of Municipalites in Group	22	22	22	22	22	22
		Average Population In Group	20,622	22,003	21,233	20,452	19,944	19,612
		Town of Cornelius Population	23,929	22,946	21,256	17,144	15,918	15,399
	Group Average Per Capita Revenues by Source
		Property Tax	401	365	353	344	334	321
		Utility	1,742	1,897	1,836	1,894	1,821	1,793
		Sales Tax	143	155	155	150	146	137
		Sales & Services	111	110	104	97	90	88
		Intergovernmental	193	172	183	211	242	181
		Debt Proceeds	317	276	201	125	105	123
		Other Miscellaneous	127	150	178	155	142	117
		Total	3,034	3,125	3,010	2,976	2,880	2,760

	Group Average Per Capita Expenditures by Function
		Utility	1,815	1,907	1,817	1,915	1,864	1,781
		Debt Service	166	147	136	192	151	143
		Transportation	121	120	116	119	123	122
		General Government	185	158	134	135	131	117
		Public Safety	412	393	374	363	348	334
		Other	339	356	290	269	278	272
		Total	3,038	3,081	2,867	2,993	2,895	2,769

	Group Average Per Capita Expenditures by Object
		Salaries & Wages	628	623	586	561	551	531
		Capital Outlay	441	429	329	352	387	314
		Other Operating	1,969	2,029	1,952	2,080	1,957	1,924
		Total	3,038	3,081	2,867	2,993	2,895	2,769


General Fund Go to top of page			2009	2008	2007	2006	2005	2004
	General Fund revenues		$17,586,574	17,680,079	16,313,337	14,778,064	13,744,650	12,671,317
	General Fund expenditures		17,068,465	17,717,229	15,097,437	13,747,413	11,922,545	11,393,873
	Operating transfers in		-	-	-	-	-	-
	Operating transfers out		1,671,876	1,252,042	1,334,327	1,206,273	216,237	547,400
	Capital leases and installment purchase proceeds		544,665	1,750,000	475,670	410,000	-	-
	Other items		79,814	-	-	-	-	323,877
	Excess of revenues and other sources over (under) expenditures and other uses		(529,288)	460,808	357,243	234,378	1,605,868	1,053,921

	Fund balance available (FBA):
		In dollars	$8,970,029	9,782,762	9,352,225	9,388,238	8,917,196	7,225,957
		FBA as a % of GF Net Expenditures:
		Unit's FBA %	49.30	56.81	58.61	64.55	73.46	60.51
		Group weighted average FBA %	39.96	38.75	37.01	40.17	41.78	41.23
		State weighted average Electric Group	34.57	35.41	33.99	35.62	36.67	36.12
		State weighted average FBA %	37.00	36.34	36.55	36.96	36.78	36.35


Enterprise Funds: Go to top of page
	Electric

	Combined financial results:
		Working capital	$776,567	814,916	450,686	264,318	395,061	402,653
		Quick ratio	2.22	2.61	1.53	1.17	1.30	1.35
		Net income	42,120	986,764	430,060	216,253	677,023	246,866
		Cashflow from operations	413,596	1,177,885	673,824	464,606	1,030,072	498,225
		Depreciation & Amortization Expense	288,786	252,781	240,169	231,059	221,442	221,032



Cash, Investments and Financing Go to top of page			2009	2008	2007	2006	2005	2004

		Population at July 1st of the Previous Year	23,929	22,946	21,256	17,144	15,918	15,399
		Population Group	Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999
		Cash &Investments	$19,029,139	16,777,632	17,422,085	11,948,210	3,059,158	1,821,454
		Investment Earnings	281,657	721,699	740,873	517,141	251,303	82,225
		Tax Rate Equivalent	0.0075	0.0200	0.0217	0.0163	0.0084	0.0032
		Tax Rate Equivalent Group weighted average	0.0304	0.0707	0.0793	0.0520	0.0389	0.0164
		Tax Rate Equivalent Statewide weighted average	0.0133	0.0524	0.0920	0.0573	0.0415	0.0340
		Latest year of Revaluation		2003	2003	2003	2003	2003
		January 1, Prior Year Assessed Valuation	$3,753,766,045	3,601,984,969	3,408,181,329	3,163,928,940	2,987,670,811	2,539,745,597
		Tax Rate	0.2750	0.2750	0.2750	0.2600	0.2600	0.2900
		Tax Rate Group weighted average	0.4411	0.4498	0.4454	0.4425	0.4388	0.4540
		Tax Rate State Wide	0.4267	0.4243	0.4452	0.4321	0.4448	0.4566
		Assessment -to-Sales Ratio	82.90	87.33	93.76	95.06	95.80	98.08
		Assessment -to-Sales Ratio Group weighted average	88.67	87.55	90.13	92.19	94.05	93.71
		Assessment -to-Sales Ratio Statewide	90.81	88.52	88.41	92.28	92.35	92.18
		Assessed Valuation Adjusted for Assesment to Sales Ratio	$4,528,065,193	4,124,567,696	3,635,005,684	3,328,349,400	3,118,654,291	2,589,463,292
		EffectiveTax Rate	0.2280	0.2402	0.2578	0.2472	0.2491	0.2844
		Group weighted average Effective Tax Rate	0.3911	0.3938	0.4015	0.4080	0.4127	0.4254
		Statewide weighted average Effective Tax Rate	0.3875	0.3756	0.3936	0.3987	0.4108	0.4209
		Percent Collected	97.40	97.89	97.98	97.90	98.02	95.77
		Percent Collected Group weighted average	96.95	96.79	96.51	96.74	97.03	96.47
		Percent Collected Statewide	97.78	97.64	97.59	97.55	97.42	97.31
		Percent Collected Excluding Motor Vehicles	98.10	98.66	98.77	98.78	98.65	96.17
		Percent Collected Excluding Motor Vehicles Group weighted average	97.57	98.03	97.73	98.00	98.16	97.83
		Percent Collected Excluding Motor Vehicles Statewide weighted average	98.31	98.65	98.59	98.61	98.36	98.39
		Percent Collected Motor Vehicles Only	90.76	91.04	90.97	90.10	91.96	91.84
		Percent Collected Motor Vehicles Only Group weighted average	84.72	83.94	84.21	85.28	86.42	85.54
		Percent Collected Motor Vehicles Only Statewide weighted average	86.66	86.74	86.71	86.80	87.31	87.46
		Tax Uncollected	93,111	215,013	193,845	177,967	157,944	331,321
		Tax Rate Equivalent	0.0025	0.0060	0.0057	0.0056	0.0053	0.0130
		Dominant County: Mecklenburg
	Debt Information
		Population Group	10,000 to 24,999	10,000 to 24,999	10,000 to 24,999	10,000 to 24,999	10,000 to 24,999	10,000 to 24,999
		Ratings:
		Fitch	AA	AA	AA	AA	AA	AA
		Moody's
		S & P	AA	AA	AA	AA	AA	AA

		General Obligation Debt (GO) where the taxing power of the entrire municipality is pledged to pay the obligation
		Enterprise GO Debt	$0	0	0	0	0	0
		General Government GO Debt	2,200,000	2,300,000	2,400,000	2,500,000	2,600,000	2,700,000
		Total General Obligation Debt	2,200,000	2,300,000	2,400,000	2,500,000	2,600,000	2,700,000
		Per Capita	$92	100	113	146	163	175
		Total Per Capita for the Population Group	130	153	166	163	190	219
		Total Per Capita Statewide	455	456	478	495	505	548
		Total per Assessed Valuation Adjusted for Current Year Sales	0.0486%	0.0558%	0.0660%	0.0751%	0.0834%	0.1043%
		Total per Assessed Valuation Adjusted for Current Year Sales- Group Average	0.1320%	0.1585%	0.1868%	0.1912%	0.2303%	0.2755%
		Total per Assessed Valuation Adjusted for Current Year Sales - Statewide	0.3909%	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	44,274	297,658	539,345	769,885
		--General Government	11,767,196	12,064,580	13,492,698	11,832,757	12,315,665	13,600,423
		Total*	$11,767,196	12,064,580	13,536,972	12,130,415	12,855,009	14,370,308
		* The total only includes the contracts that require Local Government Commission approval.
		Revenue Bond Debt	$0	0	0	0	0	0


Annual Financial Information Report Detail Go to top of page
Line	Section	Description	2009	2008	2007	2006	2005	2004
	Population at July 1st of the Previous Year Adjusted for Boundry Changes		23,929	22,946	21,256	17,144	15,918	15,399

1A	Non GASB34	General Fund Assets
1B	FISCAL	General Fund Liabilities
2A	SUMMARY	Debt-service Assets
2B		Debt service Liabilities
3A		Enterprise Assets
3B		Enterprise Liabilities
4A		Internal Service Assets
4B		Internal service Liabilities
5A		Special Revenue Assets
1.5A	GASB34	Governmental Activities Assets	52,150,866	47,912,925	49,430,304	42,878,221	40,105,758	36,957,543
1.5B	FISCAL	Governmental Activities Liabilities	16,813,035	16,646,255	18,573,540	15,865,032	16,567,239	18,274,476
3.5A	SUMMARY	Business Type Activities Assets	6,079,066	5,954,294	5,055,531	4,885,294	4,939,091	4,464,125
3.5B		Business Type Activities Liabilties	459,803	377,151	465,152	724,975	995,025	1,197,082
6.5A		Fiduciary Funds Assets
6.5B		Fiduciary Funds Liabilties
5B		Special Revenue Liabilities
6A		Trust & Agency Assets
6B		Trust & Agency Liabilities
7A		Capital Project Assets
7B		Capital Project Liabilities
8A		General Fixed Assets
9B		General Long term debt - Liabilities
10	PART 2	Current collections of unit-wide levy	9,336,731	8,954,548	8,486,659	7,484,060	7,114,654	6,802,830
11	TAX	Current collection of special tax districts
12	REVENUES	Prior years' levy collections	98,286	81,371	73,880	159,959	151,189	201,222
13		Penalties and interest	58,353	52,962	50,020	56,769	47,238	65,553
14		Collection of taxes previously written off
15		Animal tax
15.1		Solid Waste Disposal Tax	6,906
16		1% Local government sales and use tax	1,140,356	1,338,780	1,208,262	1,131,620	1,271,703	994,239
17		1/2% Local government sales and use taxes (Article 40)	367,865	390,760	351,669	318,441	306,326	257,336
18		1/2% Local government sales and use taxes (Article 42)	362,091	384,953	346,526	314,273	301,637	252,732
18.5		1/2% Local government sales and use taxes (Article 44)	403,946	481,846	434,326	452,932	430,828	345,082
19		Licenses Privilege						87,709
19.1		Privilege - Occupational & business licensing & permit taxes	102,981	160,809	110,949	108,329	66,864
19.2		Privilege -- All other privileges and pemits
20		General Municipal Vehicle Tax	957,160	980,093	905,818	802,853	711,825	687,280
21		Vehicle Tax for Public Transportation
22		Other licenses - Include CATV	19,697	32,096	103,848	151,850	124,447	123,530
23		Local occupancy tax	203,152	253,764	246,862	244,013	203,517	174,135
24		Prepared food tax	309,702	319,593	348,476	241,534	209,993	221,285
25		911 charges			133,518	119,929	137,878	111,377
26		Gross Receipts Tax on Short Term Vehicles Leases	168,656	190,905	145,032	53,923	47,114	42,435
27	FEDERAL	FEDERAL Payment in lieu of taxes
28	INTERGOV	Equitable sharing of Federally forfeited property
29	REVENUES	General government
30		Public safety					7,937	100,583
31		Transportation - Streets
32		Transportation - All other
33		Utility franchise tax
34		Housing/community development			552,718	99,000	142,485	4,797
35		All Other
36		Human services: Health, mental health, hospitals
37		All other
38		Culture and recreation
39	STATE	State Payment in Lieu of Taxes
40	INTERGOV	Controlled substance tax	5,893	3,653	2,603	65,023	26,574	5,983
41	REVENUES	Intangibles tax reimbursement + Transistional Hold Harmless Revenues
42		Wireless Enhanced 911 Service Charges	313,888	263,613	155,193	139,447	118,624	110,647
43		Piped Natural Gas Charge Distribution
44		Utility franchise tax	1,099,859	1,016,328	773,967	653,175	664,514	617,133
45		Beer and Wine tax	103,050	97,914	77,403	71,674	68,160	62,622
46		Powell Bill	655,120	683,064	516,846	493,884	470,936	402,637
47		Food stamp purchases tax reimbursement
48		Inventories tax reimbursements
49		Senior Citizens Exemption - 50%
50		Court fees - Facilities and arrest fees
51		General Government
52		Public safety	418,445	287,043	228,316		2,646	33,528
53		Transportation - Streets
54		Transportation - All other	30,691	12,538
55		Environmental protection		37,684
56		Econ. & Phys. Dev. - Housing/Comm. Dev.	172,866
57		Econ. & Phys. Dev. - All Other
58		Human Services: Health, mental health, hospitals
59		All Other
60		Culture and recreation		65,500	1,893	2,092		256,784
61	LOCAL	LOCAL Payment in lieu of taxes
62	INTERGOV	General government
63	REVENUES	Public safety	344,154			350,201	263,662	152,774
64		Transportatin - Streets
65		Transportation - All other			12,045
66		Environmental protection
67		Economic and physical development		19,500		75,000	129,274
68		Human Services: Health, Mental Health & Hosp
69		Human Services: All Other
70		Culture and recreation					5,000
71	PERMITS	Building permits
72	& FEES	Inspection fees
72.1		Amusements licensing and permit taxes
73		Other permits	70,247	127,872	97,034	80,656	335,748	307,683
74	SALES &	Parking revenues
75	SERVICES	Rents and royalties	5,600	10,655	14,145	7,628	8,721	9,200
76		Airport
77		Fire protection charges
78		Solid waste
79		Ambulance and rescue squad charges
80		Cemeteries
81		Recreation service revenues	332,910	332,465	281,537	238,703	261,110	182,856
82		Library service revenues
83		Other cultural and recreational service revenues
84		Mass transit - city operated
85		Other sales and services
86	UTILITY	Water and sewer charges
87	REVENUES	Electric charges	3,998,099	4,753,904	4,050,721	3,760,433	3,895,118	3,424,724
88		Gas charges
88.1		Storm Water Fees	339,817	312,484	297,598	279,751
89	MISC.	On bond proceeds
90	REVENUES	On general and all other funds	281,657	721,699	740,873	517,141	251,303	82,225
91		Special assessments
92		Private contribution and donations		153,781	349,770	277,860	1,286,827	1,126,596
93		Sales of materials and fixed assets		2,500
94		Sales of real property					76,109
95		Nongovernment contributions for streets and traffic signals
96		Mixed drink surcharge
97		ABC profit distribution	70,750	44,625	42,500	42,500	40,000	39,900
98		Other miscellaneous revenues	206,123	235,585	241,150	157,864	138,175	72,731
99		Proceeds of the sale of bonds and notes
100		Proceeds of capital leases and installment purchases	544,665	1,750,000	3,475,670	1,239,500	600,000	11,023,877
101		Other	79,814
102	NON-REV	Supplemental schools taxes - current levy collections	9,336,731	8,954,548	9,352,147	8,286,913	7,826,479	7,490,110
103	RECEIPTS	Prior years' levy collections	98,178	81,371	114,211	159,959	151,189	201,222
104		Tax collections for units other than reporting unit
105		Utilities customers' deposits	-1,106	7,917	4,281	-21,619	4,382	8,020
106		Deposits other than utility
107		Prepaid taxes
108		Prepaid privilege licenses
109A	PART 4	Governing body - Salaries	16,993	49,567	47,933	42,256	37,127	37,163
109B	GENERAL	Governing body - All other Direct	52,051	18,767	16,564	18,196	25,121	35,426
109C	GOVT	Governing body - Construction
109D		Governing body - Land, Equipment and Existing Structures
110A		Administration - Salaries	712,630	699,135	691,134	598,990	595,124	587,920
110B		Administration - All other Direct	1,005,200	866,172	761,245	654,252	852,879	814,068
110C		Administration - Construction
110D		Administration - Land, Equipment and Existing Structures	52,309	45,098				167,855
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
114C		Legal - Construction
114D		Legal - Land, Equipment, and Existing Structures
115A		Public Buildings - Salaries
115B		Public Buildings - All other Direct
115C		Public Buildings - Construction
115D		Public Buildings - Land, Equipment, and Existing Structures
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
118B		General Government All Other - All other Direct				121,861
118C		General Government All Other - Construction
118D		General Government All Other - Land, Equipment, and Existing Structures
119A	PUBLIC	Police and Communications - Salaries	1,918,224	1,835,404	1,816,989	1,647,253	1,569,263	1,400,252
119B	SAFETY	Police and Communications - All other Direct	1,180,689	1,005,819	996,921	1,029,449	924,680	911,242
119C		Police and Communications - Construction						14,262
119D		Police and Communications - Land, Equipment and Existing Structures	468,971	287,802	28,224		322,921	63,632
120A		Emergency Communications - Salaries	432,005	447,619	390,897	382,667	348,610	335,312
120B		Emergency Communications - All other Direct	283,766	314,615	284,922	284,093	285,156	253,831
120C		Emergency Communications - Construction
120D		Emergency Communications - Land, Equipment and Existing Structures	68,341	63,082			5,374
121A		Emergency Management - Salaries
121B		Emergency Management - All other Direct
121C		Emergency Managment - Construction
121D		Emergency Management - Land, Equipment, and Existing Structures
122A		Fire - Salaries
122B		Fire - All other Direct	1,021,000	900,000	1,286,670	782,423	738,156	647,215
122C		Fire - Construction			461,582
122D		Fire - Land, Equipment, and Existing Structures	64,585	2,477,128		410,000	160,746
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	41,213	39,650	38,583	37,129	36,058	32,660
125B		Animal Control - All other Direct	28,034	26,194	25,194	23,432	21,717	10,866
125C		Animal Control - Construction	467,253
125D		Animal Control - Land, Equipment, and Existing Structures		4,937				22,638
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	353,762	343,155	317,967	314,856	275,281	353,008
128B		Streets and Highways - All other Direct	631,480	620,077	633,010	918,342	516,085	850,239
128C		Streets and Highways - Construction		352,425	349,734	525,822	3,426,301	4,364,655
128D		Streets and Highways - Land, Equipment and Existing Structures	824,360	282,837	534,602	403,857	88,988	7,457
129A		Street Cleaning - Salaries
129B		Street Cleaning - All other Direct
129C		Street Cleaning - Construction
129D		Street Cleaning - Land, Equipment, and Existing Structures
130A		State Street Aid Allocation - Powell Bill - Salries
130B		State Street Aid Allocation - Powell Bill - All other Direct	57,343	131,018	34,746	27,463	15,720	27,874
130C		State Street Aid Allocation - Powell Bill - Construction	616,461	790,681	891,338	166,919	148,656	263,954
130D		State Street Aid Allocation - Powell Bill - Land, Equipment, and Existing Structures		11,670
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	21,936
135C		Transportation - All Other - Construction
135D		Transportation - All Other - Land, Equipment, and Existing Structures
136A	ENVIRON	Solid Waste - Salaries
136B	MENTAL	Solid Waste - All other Direct	1,847,025	1,642,079	1,322,537	1,246,660	1,129,677	1,118,632
136C	PROTECTION	Solid Waste - Construction
136D		Solid Waste - Land, Equipment, and Existing Structures
137A		Drainage and Watershed - Salaries
137B		Drainage and Watershed - All other Direct		28,020	21,950	19,026	56,672	28,375
137C		Drainage and Watershed - Construction		54,500	10,000	17,756	24,570	11,915
137D		Drainage and Watershed - Land, Equipment, and Existing Structures
138A		Cemeteries - Salaries
138B		Cemeteries - All other Direct
138C		Cemeteries - Construction
138D		Cemeteries - Land, Equipment, and Existing Structures
139A		Environmental Protection - All Other - Salaries
139B		Environmental Protection - All Other - All other Direct
139C		Environmental Protection - All Other - Construction
139D		Environmental Protection All Other - Land, Equipment, and Existing Structures
140A	ECONOMIC	Planning and Zoning - Salaries	334,807	285,073	240,028	214,765	209,160	218,139
140B	& PHYSICAL	Planning and Zoning - All other Direct	260,029	281,240	200,813	159,436	190,209	149,593
140C	DEVELOP	Planning and Zoning - Construction
140D		Planning and Zoning - Land, Equipment, and Existing Structures			18,236
141A		Economic Development - Salaries
141B		Economic Development - All other Direct
141C		Economic Development - Construction
141D		Economic Development - Land, Equipment, and Existing Structures
142A		Community Development - Salaries
142B		Community Development - All other Direct
142C		Community Development - Construction
142D		Community Development - Land, Equipment, and Existing Structures
143A		Housing and Urban Renewal - Salaries
143B		Housing and Urban Renewal - All other Direct
143C		Housing and Urban Renewal - Construction			554,353	222,670	416,070	36,402
143D		Housing and Urban Renewal - Land, Equipment, and Existing Structures
144A		Special Employment Programs (JTPA) - Salaries
144B		Special Employment Programs (JTPA) - All other Direct
144C		Special Employment Programs (JTPA) - Construction
144D		Special Employment Programs (JTPA) - Land, Equipment, and Existing Structures
145A		Economic and Physical Development - All Other - Salaries [A]			7,069	16,482	27,696	40,791
145B		Economic and Physical Development - All Other - All other Direct	559,588	584,254	551,799	499,829	388,384	337,485
145C		Economic and Physical Development - All Other - Construction		6,300
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	553,289	508,516	462,978	370,819	319,217	287,902
153B	RECREATION	Recreation and Parks - All other Direct	742,745	829,821	713,278	633,926	522,339	390,113
153C		Recreation and Parks - Construction			487,663	3,952	569,941	165,630
153D		Recreation and Parks - Land, Equipment, and Existing Structures	300,426	212,699		853,079		28,850
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			200,489
157D		Human Services - All Other - Land, Equipment, and Existing Structures
158A	UTILITY	Water and Sewer - Salaries
158B		Water and Sewer - All other Direct
158C		Water and Sewer - Construction
158D		Water and Sewer - Land, Equipment, and Existing Structures
159A		Electric Power - Salaries	410,462	356,870	331,916	263,842	262,467	281,761
159B		Electric Power - All other Direct	3,251,173	3,163,159	3,045,811	3,003,363	2,700,473	2,621,951
159C		Electric Power - Construction
159D		Electric Power - Land, Equipment, and Existing Structures	719,256	843,140	380,908	247,297	328,500	159,535
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	62,993
160.1C		Storm water contruction	19,046
160.1C		Storm water land, equipment and existing structures
161B	DEBT	Water and Sewer - Debt Service Interest Payments
161D	SERVICE	Water and Sewer - Debt Service Principal Payments
162B		Electric - Debt Service Interest Payments	8,933	4,441	17,873	55,501	38,178	54,971
162D		Electric - Debt Service Principal Payments	80,000	45,127	337,071	264,014	250,937	240,144
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	554,222	668,321	570,243	607,311	551,808	657,506
166D		All Other - Debt Service Principal Payments	2,051,221	3,612,865	1,578,951	1,998,532	2,045,684	4,906,347
167B	PENSION	Direct Benefit Program - Pension Fund operated by the Unit
168B	FRINGE	Fringe Benefits Unallocated - (B)
169B		Separation Allowance - Law Enforcement Officers -(B)	32,537	47,617	31,663	16,880
170B		Separation Allowance - Other Employees - (B)
171B		Supplemental Retirement Income Plan for Law Enforcement Officers - (B)	100,030	82,200	83,290	78,603	89,467	65,683
172B		Fringe Benefits Other - (B)
173A		Multi-County Library District, County, or Other Municipality Authority
173B	INTERGOV	Multi-County Library District, County, or Other Municipality (Item number)
173C	EXPEND	Multi-County Library District, County, or Other Municipality (Amount)
174A		General Governmental Actitivies shared with the County (County)
174B		General Governmental Actitivies shared with the County (Item number)
174C		General Governmental Actitivies shared with the County (Amount)
175A		Highways (Payments to State) (State)
175B		Highways (Payments to State) (Item number)
175C		Highways (Payments to State) (Amount)
176A		Others - Name of Payee #1
176B		Others - 1 (B)
176C		Others - 1 (C)
177A		Others - Name of Payee #2
177B		Others - 2 (B)
177C		Others - 2 (C)
178A		Others - Name of Payee #3
178B		Others - 3 (B)
178C		Others - 3 (C)
179	PART 6	Current Year Levy Excluding Motor Vehicles	9,560,251	9,140,373	8,631,601	7,602,920	7,239,322	7,118,666
180	OTHER	Current Year Levy Motor Vehicles Only	1,006,444	1,033,558	967,425	862,684	745,119	715,888
181	DATA	Uncollected Taxes - Current Year's Levy - Excluding Motor Vehicles	181,708	122,397	106,532	92,533	98,022	272,940
182		Uncollected Taxes - Current Year's Levy - Motor Vehicles	93,014	92,616	87,313	85,434	59,922	58,381
183		Percentage of Taxes Collected - Current Year All Property	97.4	97.89	97.98	97.90	98.02	95.77
184		Percentage of Taxes Collected - Current Year - Excluding Motor Vehicles	98.1	98.66	98.77	98.78	98.65	96.17
185		Percentage of Taxes Collected - Current Year - Motor Vehicles	90.76	91.04	90.97	90.10	91.96	91.84
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
189C	INVEST	Cash on Hand and in Bank, and Securities - All Other	19,029,139	16,777,632	17,422,085	11,948,210	3,059,158	1,821,454
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	24,281,406	25,806,929	26,192,154	21,398,290	20,134,373	28,931,425
194B	FISCAL	Amounts - Subtract proceeds of refunding debt
194C	SUMMARY	Amounts - Subtract interfund transfers in	1,671,876	1,252,042	1,334,327	1,206,273	216,237	547,400
194D		Amounts - Net Revenues per AFIR	22,609,530	24,554,887	24,857,827	20,192,017	19,918,136	28,384,025
		Calculated amount	22,609,530	24,554,887	24,857,827	20,192,017	19,918,136	28,384,025
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference
195A		Amounts - Total Expenditures and other financing sources per audit	23,878,264	26,121,136	22,111,501	20,389,276	20,731,649	23,550,654
195B		Amounts - Subtract payments to refunding debt escrow agent
195C		Amounts - Subtract interfund transfers out	1,671,876	1,252,042	1,334,327	1,206,273	216,237	547,400
195D		Amounts Net Expenditures per AFIR	22,206,388	24,869,094	20,777,174	19,183,003	20,515,412	23,003,254
		Calculated amount	22,206,388	24,869,094	20,777,174	19,183,003	20,515,412	23,003,254
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference

	PART 10

950		Name of Official Signatory	Julie M. Niswonger
951		Title of Official	Accountant
952		Date Certified	12/21/2009	02/04/2009	12/21/2007
953		Person to Contact	Julie M. Niswonger
954		Title of Person to Contact	Accountant
955		Telephone Number	704-892-6031
956		Facsimile Number	704-896-2465

Go to top of page Key Ratios of Electric Systems for The
Town of Cornelius

	2009	2008	2007	2006	2005	2004

Population	23,929	22,946	21,256	17,144	15,918	15,399
Power Agency Group	N.C. Municipal Power Agency Number 1
Total Operating Revenues	$0	0	0	0	0	0
Group Weighted Average	0	0	0	234,702	0	0

% to Total Operating Revenues
Power Purchases	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Group Weighted Average	0.0%	#DIV/0!	#DIV/0!	264.7%	#DIV/0!	#DIV/0!

Other Operating Expenses	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Group Weighted Average	0.0%	#DIV/0!	#DIV/0!	-68.5%	#DIV/0!	#DIV/0!

Operating Margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Group Weighted Average	100.0%	#DIV/0!	#DIV/0!	-96.1%	#DIV/0!	#DIV/0!

Operating Transfers In/(out)	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Group Weighted Average In/(out)	0.0%	#DIV/0!	#DIV/0!	-1.6%	#DIV/0!	#DIV/0!

Net Income	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Group Weighted Average	#DIV/0!	#DIV/0!	#DIV/0!	-9.0%	#DIV/0!	#DIV/0!

Key Ratios and Cash Flow

Quick Ratio	2.2	2.6	1.5	1.2	1.3	1.3
Group Weighted Average	3.9	3.8	4.1	4.0	4.6	4.9

Coverage Ratio	0.00	0.00	0.00	0.00	0.00	0.00
Group Weighted Average	1.44	N/A	8.99	1.93	N/A	48.62

Days Sales in Receivables	0.0	0.0	0.0	0.0	0.0	0.0
Group Weighted Average	0.0	N/A	N/A	0.0	N/A	N/A

Days Cash on Hand	0.0	0.0	0.0	0.0	0.0	0.0
Group Weighted Average	0.0	0.0	0.0	0.0	0.0	0.0

Cash flow from Operations	$413,596	1,177,885	673,824	464,606	1,030,072	498,225

Capital Expenditures:	$719,256	843,140	380,908	247,297	328,500	159,535


	2009	2008	2007	2006	2005	2004
Capital Contributions: Excluded from Income Above	$0	0	0	0	0	0

Operating Transfers to the General Fund as a % of GF Revenues	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

	2003	2002	2001	2000	1999
	#VALUE!	#VALUE!	#VALUE!	94.00%	0.06%

Gross Electric Fund Assets as Cost	$0	0	0	0	0	0
Estimated Tax Loss from Municipal Ownership of Utility	$0	$0	0	0	0	0
Tax Rate Equivalent	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000

Operating Transfers to the General Fund as a % of Gross Fixed Assets	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Operating Transfers to the General Fund as a Tax Rate Equivalent	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000

Tax Rate Adjusted for Assessed to Sales Ratio	0.2280	0.2402	0.2578	0.2472	0.2491	0.2844

Tax Rate Adjusted Excluding Transfers	0.2280	0.2402	0.2578	0.2472	0.2491	0.2844

Weighted Average Group Rate Adjusted	0.3911	0.3938	0.4015	0.4080	0.4127	0.4254

Weighted Average Non Electric Adjusted Rate	0.4007	0.4107	0.4309	0.4353	0.4419	0.4533

Financial Graphs and Comparisons

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

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Analysis of Available Fund Balance: General Fund

	2005	2006	2007	2008	2009
Unit's FBA %	73.46%	64.55%	58.61%	56.81%	49.30%
Group average FBA %	41.78%	40.17%	37.01%	38.75%	39.96%
State average Electric/Non Electric Group FBA %	36.67%	35.62%	33.99%	35.41%	34.57%
State average FBA %	36.78%	36.96%	41.78%	36.34%	37.00%

Municipal Population Group: Electric 10,000 to 49,999

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2005 2006 2007 2008 2009

Municipality 98.02% 97.90% 97.98% 97.89% 97.40%

Pop. Group 97.03% 96.74% 96.51% 96.79% 96.95%

Statewide 97.42% 97.55% 97.59% 97.64% 97.78%

Municipal Population Group: Electric 10,000 to 49,999

	2005	2006	2007	2008	2009
Municipality	98.02%	97.90%	97.98%	97.89%	97.40%
Pop. Group	97.03%	96.74%	96.51%	96.79%	96.95%
Statewide	97.42%	97.55%	97.59%	97.64%	97.78%

Municipal Population Group: Electric 10,000 to 49,999

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2005 2006 2007 2008 2009

Municipality 163 146 113 100 92

Pop. Group 190 163 166 153 130

Statewide 505 495 478 456 455

Municipal Population Group: 10,000 to 24,999

	2005	2006	2007	2008	2009
Municipality	163	146	113	100	92
Pop. Group	190	163	166	153	130
Statewide	505	495	478	456	455

Municipal Population Group: 10,000 to 24,999

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2005 2006 2007 2008 2009

Property Tax $459 449 405 396 397

Utility 245 236 205 221 181

Sales Tax 145 130 109 114 96

Sales & Services 17 14 14 15 14

Intergovernmental 119 114 109 108 131

Debt Proceeds 38 72 164 76 23

Other Miscellaneous 228 163 163 140 103

Total $1,251 1,178 1,169 1,070 945

	2005	2006	2007	2008	2009
Property Tax	$459	449	405	396	397
Utility	245	236	205	221	181
Sales Tax	145	130	109	114	96
Sales & Services	17	14	14	15	14
Intergovernmental	119	114	109	108	131
Debt Proceeds	38	72	164	76	23
Other Miscellaneous	228	163	163	140	103
Total	$1,251	1,178	1,169	1,070	945

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2009
2009

Category Revenue
Per Capita

Property Tax $9,493,370
$397

Water/Sewer 0
0

Electric 3,998,099
167

Other Utilities 339,817
14

Sales Tax 2,274,258
96

Sales & Services 338,510
14

Intergovernment 3,143,966
131

Debt Proceeds 544,665
23

Miscellaneous 2,469,939
103

Total $22,602,624
$945

Municipal Population Group: Electric 10,000 to 49,999

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2009
2009

Category Expenditures
Per Capita

General Government $1,839,183
$76

Water/Sewer 0
0

Electric 4,380,891
183

Other Utilities 82,039
3

Debt Service 2,694,376
113

Transportation 2,505,342
105

Public Safety 6,106,648
255

Other 4,597,909
192

Total $22,206,388
$928

Municipal Population Group: Electric 10,000 to 49,999

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2009
2009

Category Expenditures
Per Capita

Salaries & Wages $4,773,385
$199

Water/Sewer Capital 0
0

Electric Capital 719,256
30

Other Capital 2,881,752
120

Other Operating 13,831,995
579

Total $22,206,388
$928

Municipal Population Group: Electric 10,000 to 49,999

Last Updated 6/11/2010 9:35:04 AM



	2009	2009
Category	Revenue	Per Capita
Property Tax	$9,493,370	$397
Water/Sewer	0	0
Electric	3,998,099	167
Other Utilities	339,817	14
Sales Tax	2,274,258	96
Sales & Services	338,510	14
Intergovernment	3,143,966	131
Debt Proceeds	544,665	23
Miscellaneous	2,469,939	103
Total	$22,602,624	$945

Municipal Population Group: Electric 10,000 to 49,999

North CarolinaDepartment of State TreasurerFinancial InformationTown of Cornelius

Financial Graphs and Comparisons

North Carolina
Department of State Treasurer
Financial Information
Town of Cornelius