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

Institute of Government North Carolina Cities Web Site

Go to North Carolina County and Municipal Financial Information Home Page
Go to Mecklenburg 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	$9,088,881	8,610,559	7,700,788	7,313,081	7,069,605	6,540,648
		Utility	5,066,388	4,348,319	4,040,184	3,895,118	3,424,724	3,187,456
		Sales Tax	2,596,339	2,340,783	2,217,266	2,310,494	1,849,389	1,340,240
		Sales & Services	343,120	295,682	246,331	269,831	192,056	115,911
		Intergovernmental	2,486,837	2,320,984	1,949,496	1,899,812	1,747,488	2,209,816
		Debt Proceeds	1,750,000	3,475,670	1,239,500	600,000	11,023,877	221,309
		Other Miscellaneous	3,223,322	3,465,830	2,798,452	3,629,800	3,076,886	1,734,546
		Total	$24,554,887	24,857,827	20,192,017	19,918,136	28,384,025	15,349,926

	Expenditures by Function
		Utility	$4,363,169	3,758,635	3,514,502	3,291,440	3,063,247	3,265,997
		Debt Service	4,330,754	2,504,138	2,925,358	2,886,607	5,858,968	1,740,585
		Transportation	2,531,863	2,761,397	2,357,259	4,471,031	5,867,187	1,695,935
		General Government	1,678,739	1,516,876	1,435,555	1,510,251	1,642,432	1,321,656
		Public Safety	7,532,067	5,444,935	4,691,929	4,502,148	3,757,593	4,785,930
		Other	4,432,502	4,791,193	4,258,400	3,853,935	2,813,827	3,489,332
		Total	$24,869,094	20,777,174	19,183,003	20,515,412	23,003,254	16,299,435

	Expenditures by Object
		Salaries & Wages	$4,564,989	4,345,494	3,889,059	3,680,003	3,574,908	3,272,027
		Capital Outlay	5,432,299	3,917,129	2,851,352	5,492,067	5,306,785	3,915,099
		Other Operating + Debt Service	14,871,806	12,514,551	12,442,592	11,343,342	14,121,561	9,112,309
		Total	$24,869,094	20,777,174	19,183,003	20,515,412	23,003,254	16,299,435


	Per Capita Revenues by Source
		Property Tax	$396	405	449	459	459	449
		Utility	221	205	236	245	222	219
		Sales Tax	114	109	130	145	121	91
		Sales & Services	15	14	14	17	12	8
		Intergovernmental	108	109	114	119	113	152
		Debt Proceeds	76	164	72	38	716	15
		Other Miscellaneous	140	163	163	228	200	119
		Total	$1,070	1,169	1,178	1,251	1,843	1,053

	Per Capita Expenditures by Function
		Utility	$190	177	205	207	199	224
		Debt Service	189	118	171	181	380	119
		Transportation	110	130	137	281	381	116
		General Government	74	71	84	95	107	92
		Public Safety	328	256	274	283	244	328
		Other	193	225	248	242	183	239
		Total	$1,084	977	1,119	1,289	1,494	1,118

	Per Capita Expenditures by Object
		Salaries & Wages	$199	204	227	231	232	224
		Capital Outlay	237	184	166	345	345	269
		Other Operating	648	589	726	713	917	625
		Total	$1,084	977	1,119	1,289	1,494	1,118

	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	21
		Average Population In Group	22,003	21,233	20,452	19,944	19,612	19,604
		Town of Cornelius Population	22,946	21,256	17,144	15,918	15,399	14,581
	Group Average Per Capita Revenues by Source
		Property Tax	346	353	344	334	321	311
		Utility	1,796	1,836	1,894	1,821	1,793	1,778
		Sales Tax	146	155	150	146	137	117
		Sales & Services	104	104	97	90	88	89
		Intergovernmental	163	183	211	242	181	234
		Debt Proceeds	261	201	125	105	123	143
		Other Miscellaneous	142	178	155	142	117	126
		Total	2,958	3,010	2,976	2,880	2,760	2,798

	Group Average Per Capita Expenditures by Function
		Utility	1,805	1,817	1,915	1,864	1,781	1,747
		Debt Service	139	136	192	151	143	131
		Transportation	114	116	119	123	122	92
		General Government	150	134	135	131	117	107
		Public Safety	372	374	363	348	334	316
		Other	337	290	269	278	272	300
		Total	2,917	2,867	2,993	2,895	2,769	2,693

	Group Average Per Capita Expenditures by Object
		Salaries & Wages	590	586	561	551	531	512
		Capital Outlay	406	329	352	387	314	278
		Other Operating	1,921	1,952	2,080	1,957	1,924	1,903
		Total	2,917	2,867	2,993	2,895	2,769	2,693


General Fund Go to top of page			2008	2007	2006	2005	2004	2003
	General Fund revenues		$17,680,079	16,313,337	14,778,064	13,744,650	12,671,317	11,597,505
	General Fund expenditures		17,717,229	15,097,437	13,747,413	11,922,545	11,393,873	10,085,458
	Operating transfers in		-	-	-	-	-	-
	Operating transfers out		1,252,042	1,334,327	1,206,273	216,237	547,400	179,294
	Capital leases and installment purchase proceeds		1,750,000	475,670	410,000	-	-	82,500
	Other items		-	-	-	-	323,877	-
	Excess of revenues and other sources over (under) expenditures and other uses		460,808	357,243	234,378	1,605,868	1,053,921	1,415,253

	Fund balance available (FBA):
		In dollars	$9,782,762	9,352,225	9,388,238	8,917,196	7,225,957	5,965,605
		FBA as a % of GF Net Expenditures:
		Unit's FBA %	56.81	58.61	64.55	73.46	60.51	58.59
		Group weighted average FBA %	38.75	37.01	40.17	41.78	41.23	43.15
		State weighted average Electric Group	35.36	34.02	35.69	36.30	36.12	34.92
		State weighted average FBA %	36.20	36.37	36.31	36.76	36.35	36.06


Enterprise Funds: Go to top of page
	Electric

	Combined financial results:
		Working capital	$814,916	450,686	264,318	395,061	402,653	178,318
		Quick ratio	2.61	1.53	1.17	1.30	1.35	1.04
		Net income	986,764	430,060	216,253	677,023	246,866	162,470
		Cashflow from operations	1,177,885	673,824	464,606	1,030,072	498,225	344,399
		Depreciation & Amortization Expense	252,781	240,169	231,059	221,442	221,032	218,458



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

		Population at July 1st of the Previous Year	22,946	21,256	17,144	15,918	15,399	14,581
		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	$16,777,632	17,422,085	11,948,210	3,059,158	1,821,454	1,541,484
		Investment Earnings	721,699	740,873	517,141	251,303	82,225	72,560
		Tax Rate Equivalent	0.0200	0.0217	0.0163	0.0084	0.0032	0.0030
		Tax Rate Equivalent Group weighted average	0.0707	0.0793	0.0520	0.0389	0.0164	0.0347
		Tax Rate Equivalent Statewide weighted average	0.0524	0.0920	0.0573	0.0415	0.0340	0.0332
		Latest year of Revaluation	2003	2003	2003	2003	2003	1998
		January 1, Prior Year Assessed Valuation	$3,601,984,969	3,408,181,329	3,163,928,940	2,987,670,811	2,539,745,597	2,409,681,107
		Tax Rate	0.2750	0.2750	0.2600	0.2600	0.2900	0.2900
		Tax Rate Group weighted average	0.4498	0.4454	0.4425	0.4388	0.4540	0.4506
		Tax Rate State Wide	0.4254	0.4455	0.4321	0.4448	0.4566	0.4594
		Assessment -to-Sales Ratio	87.33	93.76	95.06	95.80	98.08	87.61
		Assessment -to-Sales Ratio Group weighted average	87.55	90.13	92.19	94.05	93.71	91.03
		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	$4,124,567,696	3,635,005,684	3,328,349,400	3,118,654,291	2,589,463,292	2,750,463,540
		EffectiveTax Rate	0.2402	0.2578	0.2472	0.2491	0.2844	0.2541
		Group weighted average Effective Tax Rate	0.3938	0.4015	0.4080	0.4127	0.4254	0.4102
		Statewide weighted average Effective Tax Rate	0.3765	0.3939	0.3987	0.4108	0.4209	0.4113
		Percent Collected	97.89	97.98	97.90	98.02	95.77	95.85
		Percent Collected Group weighted average	97.36	96.51	96.74	97.03	96.47	96.25
		Percent Collected Statewide	97.97	97.59	97.55	97.42	97.31	96.96
		Percent Collected Excluding Motor Vehicles	98.66	98.77	98.78	98.65	96.17	96.11
		Percent Collected Excluding Motor Vehicles Group weighted average	98.03	97.73	98.00	98.16	97.63	97.67
		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	91.04	90.97	90.10	91.96	91.84	92.66
		Percent Collected Motor Vehicles Only Group weighted average	83.94	84.21	85.28	86.42	85.54	85.42
		Percent Collected Motor Vehicles Only Statewide weighted average	86.74	86.71	86.80	87.31	87.62	86.69
		Tax Uncollected	92,714	193,845	177,967	157,944	331,321	301,734
		Tax Rate Equivalent	0.0026	0.0057	0.0056	0.0053	0.0130	0.0125
		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	2,300,000	2,400,000	2,500,000	2,600,000	2,700,000	2,800,000
		Total General Obligation Debt	2,300,000	2,400,000	2,500,000	2,600,000	2,700,000	2,800,000
		Per Capita	$100	113	146	163	175	192
		Total Per Capita for the Population Group	153	166	163	190	219	#N/A
		Total Per Capita Statewide	456	478	495	505	548	#N/A
		Total per Assessed Valuation Adjusted for Current Year Sales	0.0558%	0.0660%	0.0751%	0.0834%	0.1043%	0.1018%
		Total per Assessed Valuation Adjusted for Current Year Sales- Group Average	0.1585%	0.1868%	0.1912%	0.2303%	0.2755%	#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	44,274	297,658	539,345	769,885	989,802
		--General Government	12,064,580	13,492,698	11,832,757	12,315,665	13,600,423	7,347,766
		Total*	$12,064,580	13,536,972	12,130,415	12,855,009	14,370,308	8,337,568
		* The total only includes the contracts that require Local Government Commission approval.
		Revenue Bond Debt	$0	0	0	0	0	0


Annual Financial Information Report Detail Go to top of page
Line	Section	Description	2008	2007	2006	2005	2004	2003
	Population at July 1st of the Previous Year Adjusted for Boundry Changes		22,946	21,256	17,144	15,918	15,399	14,581

1A	Non GASB34	General Fund Assets						8,393,569
1B	FISCAL	General Fund Liabilities						1,348,286
2A	SUMMARY	Debt-service Assets
2B		Debt service Liabilities
3A		Enterprise Assets						4,507,927
3B		Enterprise Liabilities						1,445,513
4A		Internal Service Assets
4B		Internal service Liabilities
5A		Special Revenue Assets
1.5A	GASB34	Governmental Activities Assets	47,912,925	49,430,304	42,878,221	40,105,758	36,957,543
1.5B	FISCAL	Governmental Activities Liabilities	16,646,255	18,573,540	15,865,032	16,567,239	18,274,476
3.5A	SUMMARY	Business Type Activities Assets	5,954,294	5,055,531	4,885,294	4,939,091	4,464,125
3.5B		Business Type Activities Liabilties	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						590,602
7B		Capital Project Liabilities						844,225
8A		General Fixed Assets						20,836,564
9B		General Long term debt - Liabilities						10,646,951
10	PART 2	Current collections of unit-wide levy	8,954,548	8,486,659	7,484,060	7,114,654	6,802,830	6,344,264
11	TAX	Current collection of special tax districts
12	REVENUES	Prior years' levy collections	81,371	73,880	159,959	151,189	201,222	139,492
13		Penalties and interest	52,962	50,020	56,769	47,238	65,553	56,892
14		Collection of taxes previously written off
15		Animal tax
16		1% Local government sales and use tax	1,338,780	1,208,262	1,131,620	1,271,703	994,239	821,136
17		1/2% Local government sales and use taxes (Article 40)	390,760	351,669	318,441	306,326	257,336	234,040
18		1/2% Local government sales and use taxes (Article 42)	384,953	346,526	314,273	301,637	252,732	230,676
18.5		1/2% Local government sales and use taxes (Article 44)	481,846	434,326	452,932	430,828	345,082	54,388
19		Licenses Privilege					87,709	82,700
19.1		Privilege - Occupational & business licensing & permit taxes	160,809	110,949	108,329	66,864
19.2		Privilege -- All other privileges and pemits
20		General Municipal Vehicle Tax	980,093	905,818	802,853	711,825	687,280	641,411
21		Vehicle Tax for Public Transportation
22		Other licenses - Include CATV	32,096	103,848	151,850	124,447	123,530	83,313
23		Local occupancy tax	253,764	246,862	244,013	203,517	174,135	173,659
24		Prepared food tax	319,593	348,476	241,534	209,993	221,285	197,225
25		911 charges		133,518	119,929	137,878	111,377
26		Gross Receipts Tax on Short Term Vehicles Leases	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	292,478
31		Transportation - Streets
32		Transportation - All other
33		Utility franchise tax
34		Housing/community development		552,718	99,000	142,485	4,797	300,000
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	3,653	2,603	65,023	26,574	5,983	22,055
41	REVENUES	Intangibles tax reimbursement + Transistional Hold Harmless Revenues
42		Wireless Enhanced 911 Service Charges	263,613	155,193	139,447	118,624	110,647	223,574
43		Piped Natural Gas Charge Distribution
44		Utility franchise tax	1,016,328	773,967	653,175	664,514	617,133	612,871
45		Beer and Wine tax	97,914	77,403	71,674	68,160	62,622	60,038
46		Powell Bill	683,064	516,846	493,884	470,936	402,637	431,750
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	287,043	228,316		2,646	33,528	49,224
53		Transportation - Streets
54		Transportation - All other	12,538
55		Environmental protection	37,684
56		Econ. & Phys. Dev. - Housing/Comm. Dev.
57		Econ. & Phys. Dev. - All Other
58		Human Services: Health, mental health, hospitals
59		All Other
60		Culture and recreation	65,500	1,893	2,092		256,784
61	LOCAL	LOCAL Payment in lieu of taxes
62	INTERGOV	General government
63	REVENUES	Public safety			350,201	263,662	152,774	217,826
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	127,872	97,034	80,656	335,748	307,683	322,023
74	SALES &	Parking revenues
75	SERVICES	Rents and royalties	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	332,465	281,537	238,703	261,110	182,856	115,911
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	4,753,904	4,050,721	3,760,433	3,895,118	3,424,724	3,187,456
88		Gas charges
88.1		Storm Water Fees	312,484	297,598	279,751
89	MISC.	On bond proceeds
90	REVENUES	On general and all other funds	721,699	740,873	517,141	251,303	82,225	72,560
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	44,625	42,500	42,500	40,000	39,900	32,000
98		Other miscellaneous revenues	235,585	241,150	157,864	138,175	72,731	129,655
99		Proceeds of the sale of bonds and notes
100		Proceeds of capital leases and installment purchases	1,750,000	3,475,670	1,239,500	600,000	11,023,877	221,309
101		Other
102	NON-REV	Supplemental schools taxes - current levy collections	8,954,548	9,352,147	8,286,913	7,826,479	7,490,110
103	RECEIPTS	Prior years' levy collections	81,371	114,211	159,959	151,189	201,222
104		Tax collections for units other than reporting unit
105		Utilities customers' deposits	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	49,567	47,933	42,256	37,127	37,163	36,604
109B	GENERAL	Governing body - All other Direct	18,767	16,564	18,196	25,121	35,426	33,553
109C	GOVT	Governing body - Construction
109D		Governing body - Land, Equipment and Existing Structures
110A		Administration - Salaries	699,135	691,134	598,990	595,124	587,920	615,617
110B		Administration - All other Direct	866,172	761,245	654,252	852,879	814,068	622,304
110C		Administration - Construction
110D		Administration - Land, Equipment and Existing Structures	45,098				167,855	13,578
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	1,835,404	1,816,989	1,647,253	1,569,263	1,400,252	1,311,099
119B	SAFETY	Police and Communications - All other Direct	1,005,819	996,921	1,029,449	924,680	911,242	866,023
119C		Police and Communications - Construction					14,262	1,142,208
119D		Police and Communications - Land, Equipment and Existing Structures	287,802	28,224		322,921	63,632	9,419
120A		Emergency Communications - Salaries	447,619	390,897	382,667	348,610	335,312	252,235
120B		Emergency Communications - All other Direct	314,615	284,922	284,093	285,156	253,831	200,575
120C		Emergency Communications - Construction
120D		Emergency Communications - Land, Equipment and Existing Structures	63,082			5,374		376,738
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	900,000	1,286,670	782,423	738,156	647,215	566,780
122C		Fire - Construction		461,582
122D		Fire - Land, Equipment, and Existing Structures	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	39,650	38,583	37,129	36,058	32,660
125B		Animal Control - All other Direct	26,194	25,194	23,432	21,717	10,866
125C		Animal Control - Construction
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	343,155	317,967	314,856	275,281	353,008	347,678
128B		Streets and Highways - All other Direct	620,077	633,010	918,342	516,085	850,239	796,881
128C		Streets and Highways - Construction	352,425	349,734	525,822	3,426,301	4,364,655	220,300
128D		Streets and Highways - Land, Equipment and Existing Structures	282,837	534,602	403,857	88,988	7,457	58,919
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	131,018	34,746	27,463	15,720	27,874
130C		State Street Aid Allocation - Powell Bill - Construction	790,681	891,338	166,919	148,656	263,954	272,157
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
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	1,642,079	1,322,537	1,246,660	1,129,677	1,118,632	890,863
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	285,073	240,028	214,765	209,160	218,139	223,982
140B	& PHYSICAL	Planning and Zoning - All other Direct	281,240	200,813	159,436	190,209	149,593	154,927
140C	DEVELOP	Planning and Zoning - Construction
140D		Planning and Zoning - Land, Equipment, and Existing Structures		18,236				6,030
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						266,130
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	29,292
145B		Economic and Physical Development - All Other - All other Direct	584,254	551,799	499,829	388,384	337,485	316,788
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	508,516	462,978	370,819	319,217	287,902	199,002
153B	RECREATION	Recreation and Parks - All other Direct	829,821	713,278	633,926	522,339	390,113	351,037
153C		Recreation and Parks - Construction		487,663	3,952	569,941	165,630	1,024,074
153D		Recreation and Parks - Land, Equipment, and Existing Structures	212,699		853,079		28,850	27,207
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	356,870	331,916	263,842	262,467	281,761	256,518
159B		Electric Power - All other Direct	3,163,159	3,045,811	3,003,363	2,700,473	2,621,951	2,511,140
159C		Electric Power - Construction						498,339
159D		Electric Power - Land, Equipment, and Existing Structures	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
160.1C		Storm water contruction
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	4,441	17,873	55,501	38,178	54,971	60,178
162D		Electric - Debt Service Principal Payments	45,127	337,071	264,014	250,937	240,144	235,090
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	668,321	570,243	607,311	551,808	657,506	553,607
166D		All Other - Debt Service Principal Payments	3,612,865	1,578,951	1,998,532	2,045,684	4,906,347	891,710
167B	PENSION	Direct Benefit Program - Pension Fund operated by the Unit
168B	FRINGE	Fringe Benefits Unallocated - (B)
169B		Separation Allowance - Law Enforcement Officers -(B)	47,617	31,663	16,880
170B		Separation Allowance - Other Employees - (B)
171B		Supplemental Retirement Income Plan for Law Enforcement Officers - (B)	82,200	83,290	78,603	89,467	65,683	60,853
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	9,140,373	8,631,601	7,602,920	7,239,322	7,118,666	6,721,116
180	OTHER	Current Year Levy Motor Vehicles Only	1,033,558	967,425	862,684	745,119	715,888	545,133
181	DATA	Uncollected Taxes - Current Year's Levy - Excluding Motor Vehicles	122,397	106,532	92,533	98,022	272,940	261,715
182		Uncollected Taxes - Current Year's Levy - Motor Vehicles	92,616	87,313	85,434	59,922	58,381	40,019
183		Percentage of Taxes Collected - Current Year All Property	97.89	97.98	97.90	98.02	95.77	95.85
184		Percentage of Taxes Collected - Current Year - Excluding Motor Vehicles	98.66	98.77	98.78	98.65	96.17	96.11
185		Percentage of Taxes Collected - Current Year - Motor Vehicles	91.04	90.97	90.10	91.96	91.84	92.66
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						590,602
189C	INVEST	Cash on Hand and in Bank, and Securities - All Other	16,777,632	17,422,085	11,948,210	3,059,158	1,821,454	1,541,484
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	25,806,929	26,192,154	21,398,290	20,134,373	28,931,425	15,529,220
194B	FISCAL	Amounts - Subtract proceeds of refunding debt
194C	SUMMARY	Amounts - Subtract interfund transfers in	1,252,042	1,334,327	1,206,273	216,237	547,400	179,294
194D		Amounts - Net Revenues per AFIR	24,554,887	24,857,827	20,192,017	19,918,136	28,384,025	15,349,926
		Calculated amount	24,554,887	24,857,827	20,192,017	19,918,136	28,384,025	15,349,926
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference
195A		Amounts - Total Expenditures and other financing sources per audit	26,121,136	22,111,501	20,389,276	20,731,649	23,550,654	16,478,729
195B		Amounts - Subtract payments to refunding debt escrow agent
195C		Amounts - Subtract interfund transfers out	1,252,042	1,334,327	1,206,273	216,237	547,400	179,294
195D		Amounts Net Expenditures per AFIR	24,869,094	20,777,174	19,183,003	20,515,412	23,003,254	16,299,435
		Calculated amount	24,869,094	20,777,174	19,183,003	20,515,412	23,003,254	16,299,435
		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	02/04/2009	12/21/2007	11/01/2006
953		Person to Contact	Julie 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

	2008	2007	2006	2005	2004	2003

Population	22,946	21,256	17,144	15,918	15,399	14,581
Power Agency Group	N.C. Municipal Power Agency Number 1
Total Operating Revenues	$4,753,904	4,050,721	3,760,433	3,895,118	3,424,724	3,187,456
Group Weighted Average	22,254,716	21,085,163	20,184,548	19,323,226	19,192,985	19,102,149

% to Total Operating Revenues
Power Purchases	57.7%	67.8%	71.6%	62.2%	67.9%	69.5%
Group Weighted Average	78.3%	79.0%	81.9%	82.3%	81.6%	79.1%

Other Operating Expenses	21.6%	21.6%	21.4%	19.5%	23.4%	24.2%
Group Weighted Average	17.1%	17.6%	17.5%	15.4%	15.3%	16.5%

Operating Margin	20.6%	10.7%	7.0%	18.2%	8.8%	6.3%
Group Weighted Average	4.6%	3.4%	0.6%	2.3%	3.1%	4.4%

Operating Transfers In/(out)	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Group Weighted Average In/(out)	-2.5%	-0.8%	-2.1%	0.3%	-1.9%	-0.9%

Net Income	20.8%	10.6%	5.8%	17.4%	7.2%	5.1%
Group Weighted Average	3.5%	4.9%	-0.2%	3.5%	1.8%	4.9%

Key Ratios and Cash Flow

Quick Ratio	2.6	1.5	1.2	1.3	1.3	1.0
Group Weighted Average	3.8	4.1	4.0	4.6	4.9	4.9

Coverage Ratio	1.43	1.11	1.01	1.24	1.09	1.06
Group Weighted Average	1.11	1.10	1.05	1.07	1.07	1.10

Days Sales in Receivables	36.7	40.4	44.8	41.1	52.5	50.1
Group Weighted Average	36.8	36.3	33.2	35.0	37.3	34.8

Days Cash on Hand	58.8	36.8	44.3	78.7	59.1	15.6
Group Weighted Average	118.3	114.5	127.6	147.3	147.5	155.0

Cash flow from Operations	$1,177,885	673,824	464,606	1,030,072	498,225	344,399

Capital Expenditures:	$843,140	380,908	247,297	328,500	159,535	498,339


	2008	2007	2006	2005	2004	2003
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%

	2002	2001	2000	1999	1998
	#VALUE!	#VALUE!	94.00%	0.06%	0.00%

Gross Electric Fund Assets as Cost	$7,020,455	6,571,540	6,190,632	5,943,335	5,366,952	5,207,417
Estimated Tax Loss from Municipal Ownership of Utility	$19,306	$18,072	16,096	15,453	15,564	15,102
Tax Rate Equivalent	0.0005	0.0005	0.0005	0.0005	0.0006	0.0006

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	0.2402	0.2578	0.2472	0.2491	0.2844	0.2541

Tax Rate Adjusted Excluding Transfers	0.2402	0.2578	0.2472	0.2491	0.2844	0.2541

Weighted Average Group Rate Adjusted	0.3938	0.4015	0.4080	0.4127	0.4254	0.4102

Weighted Average Non Electric Adjusted Rate	0.4173	0.4328	0.4353	0.4419	0.4533	0.4288

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 %	60.51%	73.46%	64.55%	58.61%	56.81%
Group average FBA %	41.23%	41.78%	40.17%	37.01%	38.75%
State average Electric/Non Electric Group FBA %	36.12%	36.30%	35.69%	34.02%	35.36%
State average FBA %	36.35%	36.76%	41.23%	36.37%	36.20%

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

Go to top of page

2004 2005 2006 2007 2008

Municipality 95.77% 98.02% 97.90% 97.98% 97.89%

Pop. Group 96.47% 97.03% 96.74% 96.51% 97.36%

Statewide 97.31% 97.42% 97.55% 97.59% 97.97%

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

	2004	2005	2006	2007	2008
Municipality	95.77%	98.02%	97.90%	97.98%	97.89%
Pop. Group	96.47%	97.03%	96.74%	96.51%	97.36%
Statewide	97.31%	97.42%	97.55%	97.59%	97.97%

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

Go to top of page

2004 2005 2006 2007 2008

Municipality 175 163 146 113 100

Pop. Group 219 190 163 166 153

Statewide 548 505 495 478 456

Municipal Population Group: 10,000 to 24,999

	2004	2005	2006	2007	2008
Municipality	175	163	146	113	100
Pop. Group	219	190	163	166	153
Statewide	548	505	495	478	456

Municipal Population Group: 10,000 to 24,999

Go to top of page

2004 2005 2006 2007 2008

Property Tax $459 459 449 405 396

Utility 222 245 236 205 221

Sales Tax 121 145 130 109 114

Sales & Services 12 17 14 14 15

Intergovernmental 113 119 114 109 108

Debt Proceeds 716 38 72 164 76

Other Miscellaneous 200 228 163 163 140

Total $1,843 1,251 1,178 1,169 1,070

	2004	2005	2006	2007	2008
Property Tax	$459	459	449	405	396
Utility	222	245	236	205	221
Sales Tax	121	145	130	109	114
Sales & Services	12	17	14	14	15
Intergovernmental	113	119	114	109	108
Debt Proceeds	716	38	72	164	76
Other Miscellaneous	200	228	163	163	140
Total	$1,843	1,251	1,178	1,169	1,070

Go to top of page

2008
2008

Category Revenue
Per Capita

Property Tax $9,088,881
$396

Water/Sewer 0
0

Electric 4,753,904
207

Other Utilities 312,484
14

Sales Tax 2,596,339
114

Sales & Services 343,120
15

Intergovernment 2,486,837
108

Debt Proceeds 1,750,000
76

Miscellaneous 3,223,322
140

Total $24,554,887
$1,070

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

Go to top of page

2008
2008

Category Expenditures
Per Capita

General Government $1,678,739
$74

Water/Sewer 0
0

Electric 4,363,169
190

Other Utilities 0
0

Debt Service 4,330,754
189

Transportation 2,531,863
110

Public Safety 7,532,067
328

Other 4,432,502
193

Total $24,869,094
$1,084

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

Go to top of page

2008
2008

Category Expenditures
Per Capita

Salaries & Wages $4,564,989
$199

Water/Sewer Capital 0
0

Electric Capital 843,140
37

Other Capital 4,589,159
200

Other Operating 14,871,806
648

Total $24,869,094
$1,084

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

Last Updated 8/27/2009 7:06:10 AM



	2008	2008
Category	Revenue	Per Capita
Property Tax	$9,088,881	$396
Water/Sewer	0	0
Electric	4,753,904	207
Other Utilities	312,484	14
Sales Tax	2,596,339	114
Sales & Services	343,120	15
Intergovernment	2,486,837	108
Debt Proceeds	1,750,000	76
Miscellaneous	3,223,322	140
Total	$24,554,887	$1,070

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