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			2010	2009	2008	2007	2006	2005
	Revenues by Source
		Property Tax	$9,930,887	9,493,370	9,088,881	8,610,559	7,700,788	7,313,081
		Utility	4,267,380	3,998,099	4,753,904	4,050,721	3,760,433	3,895,118
		Sales Tax	2,166,112	2,274,258	2,596,339	2,340,783	2,217,266	2,310,494
		Sales & Services	6,246	408,757	470,992	392,716	326,987	605,579
		Intergovernmental	4,138,972	3,312,622	2,677,742	2,466,016	2,003,419	1,941,926
		Debt Proceeds	2,455,665	206,123	235,585	241,150	157,864	138,175
		Other Miscellaneous	4,154,405	2,829,581	4,731,444	6,755,882	4,025,260	3,713,763
		Total	$27,119,667	22,522,810	24,554,887	24,857,827	20,192,017	19,918,136

	Expenditures by Function
		Utility	$4,484,110	4,462,930	4,363,169	3,758,635	3,514,502	3,291,440
		Debt Service	2,555,556	2,694,376	4,330,754	2,504,138	2,925,358	2,886,607
		Transportation	4,619,080	2,505,342	2,531,863	2,761,397	2,357,259	4,471,031
		General Government	2,079,626	1,839,183	1,678,739	1,516,876	1,435,555	1,510,251
		Public Safety	6,994,922	6,106,648	7,532,067	5,444,935	4,691,929	4,502,148
		Other	5,158,847	4,597,909	4,432,502	4,791,193	4,258,400	3,853,935
		Total	$25,892,141	22,206,388	24,869,094	20,777,174	19,183,003	20,515,412

	Expenditures by Object
		Salaries & Wages	$6,162,875	5,037,924	4,828,455	4,647,148	4,478,848	3,906,466
		Capital Outlay	4,855,796	3,528,730	5,457,742	3,923,945	2,677,515	2,377,105
		Other Operating + Debt Service	14,657,373	13,639,734	14,577,960	12,206,081	12,026,640	14,231,841
		Total	$25,676,044	22,206,388	24,864,157	20,777,174	19,183,003	20,515,412


	Per Capita Revenues by Source
		Property Tax	$400	397	396	405	449	459
		Utility	172	167	207	191	219	245
		Sales Tax	86	95	113	110	130	145
		Sales & Services	-	17	21	18	19	38
		Intergovernmental	167	138	117	116	117	122
		Debt Proceeds	99	9	10	11	9	9
		Other Miscellaneous	167	118	206	318	235	233
		Total	$1,091	941	1,070	1,169	1,178	1,251

	Per Capita Expenditures by Function
		Utility	$180	187	190	177	205	207
		Debt Service	103	113	189	118	171	181
		Transportation	186	105	110	130	137	281
		General Government	83	76	74	71	84	95
		Public Safety	282	255	328	256	274	283
		Other	208	192	193	225	248	242
		Total	$1,042	928	1,084	977	1,119	1,289

	Per Capita Expenditures by Object
		Salaries & Wages	$248	211	210	219	261	245
		Capital Outlay	195	147	238	185	156	149
		Other Operating	590	570	636	573	702	895
		Total	$1,033	928	1,084	977	1,119	1,289

	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	23	22	22	22	22	22
		Average Population In Group	20,466	20,622	22,003	21,233	20,452	19,944
		Town of Cornelius Population	24,847	23,929	22,946	21,256	17,144	15,918
	Group Average Per Capita Revenues by Source
		Property Tax	389	401	365	353	344	334
		Utility	1,830	1,741	1,897	1,838	1,897	1,822
		Sales Tax	128	143	154	155	149	145
		Sales & Services	112	106	102	99	91	88
		Intergovernmental	219	190	170	182	209	237
		Debt Proceeds	48	114	152	79	102	75
		Other Miscellaneous	150	327	279	287	167	170
		Total	2,876	3,022	3,119	2,993	2,959	2,871

	Group Average Per Capita Expenditures by Function
		Utility	1,782	1,815	1,907	1,817	1,915	1,864
		Debt Service	174	166	147	136	192	151
		Transportation	143	117	116	113	115	120
		General Government	183	185	157	136	134	129
		Public Safety	419	415	397	377	367	352
		Other	287	340	357	288	270	279
		Total	2,988	3,038	3,081	2,867	2,993	2,895

	Group Average Per Capita Expenditures by Object
		Salaries & Wages	642	630	628	592	566	555
		Capital Outlay	375	454	439	337	363	386
		Other Operating	1,970	1,954	2,013	1,938	2,064	1,952
		Total	2,987	3,038	3,080	2,867	2,993	2,893


General Fund Go to top of page			2010	2009	2008	2007	2006	2005
	General Fund revenues		$18,260,505	17,586,574	17,680,079	16,313,337	14,778,064	13,744,650
	General Fund expenditures		17,696,364	17,068,465	17,717,229	15,097,437	13,747,413	11,922,545
	Operating transfers in		-	-	-	-	-	-
	Operating transfers out		680,000	1,671,876	1,252,042	1,334,327	1,206,273	216,237
	Capital leases and installment purchase proceeds		399,553	544,665	1,750,000	475,670	410,000	-
	Other items		-	79,814	-	-	-	-
	Excess of revenues and other sources over (under) expenditures and other uses		283,694	(529,288)	460,808	357,243	234,378	1,605,868

	Fund balance available (FBA):
		In dollars	$9,564,737	8,970,029	9,782,762	9,352,225	9,388,238	8,917,196
		FBA as a % of GF Net Expenditures:
		Unit's FBA %	53.21	49.30	56.81	58.61	64.55	73.46
		Group weighted average FBA %	38.21	39.96	38.75	37.01	40.17	41.78
		State weighted average Electric Group	33.61	34.57	35.35	33.92	35.62	36.67
		State weighted average FBA %	37.79	37.09	36.34	36.54	36.96	36.78


Enterprise Funds: Go to top of page
	Electric

	Combined financial results:
		Working capital	$552,426	776,567	814,916	450,686	264,318	395,061
		Quick ratio	1.49	2.22	2.61	1.53	1.17	1.30
		Net income	258,789	42,120	986,764	430,060	216,253	677,023
		Cashflow from operations	480,665	413,596	1,177,885	673,824	464,606	1,030,072
		Depreciation & Amortization Expense	313,280	288,786	252,781	240,169	231,059	221,442



Cash, Investments and Financing Go to top of page			2010	2009	2008	2007	2006	2005

		Population at July 1st of the Previous Year	24,847	23,929	22,946	21,256	17,144	15,918
		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	$0	0	0	0	0	0
		Investment Earnings	0	0	0	0	0	0
		Tax Rate Equivalent	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
		Tax Rate Equivalent Group weighted average	0.0001	0.0007	0.0019	0.0024	0.0015	0.0002
		Tax Rate Equivalent Statewide weighted average	0.0013	0.0034	0.0069	0.0101	0.0080	0.0043
		Latest year of Revaluation	2003	0	2003	2003	2003	2003
		January 1, Prior Year Assessed Valuation	$3,848,974,435	3,753,766,045	3,601,984,969	3,408,181,329	3,163,928,940	2,987,670,811
		Tax Rate	0.2750	0.2750	0.2750	0.2750	0.2600	0.2600
		Tax Rate Group weighted average	0.4364	0.4411	0.4498	0.4454	0.4425	0.4388
		Tax Rate State Wide	0.4060	0.4262	0.4238	0.4450	0.4321	0.4448
		Assessment -to-Sales Ratio	88.93	82.90	87.33	93.76	95.06	95.80
		Assessment -to-Sales Ratio Group weighted average	96.93	88.67	87.55	90.13	92.19	94.05
		Assessment -to-Sales Ratio Statewide	98.29	90.81	88.53	88.41	92.28	92.35
		Assessed Valuation Adjusted for Assesment to Sales Ratio	$4,328,094,496	4,528,065,193	4,124,567,696	3,635,005,684	3,328,349,400	3,118,654,291
		EffectiveTax Rate	0.2446	0.2280	0.2402	0.2578	0.2472	0.2491
		Group weighted average Effective Tax Rate	0.4230	0.3911	0.3938	0.4015	0.4080	0.4127
		Statewide weighted average Effective Tax Rate	0.3990	0.3870	0.3752	0.3934	0.3987	0.4108
		Percent Collected	98.1600	97.4000	97.8900	97.9800	97.9000	98.0200
		Percent Collected Group weighted average	96.64	96.54	96.79	96.51	96.74	97.03
		Percent Collected Statewide	97.61	97.36	97.56	97.58	97.55	97.42
		Percent Collected Excluding Motor Vehicles	98.68	98.10	98.66	98.77	98.78	98.65
		Percent Collected Excluding Motor Vehicles Group weighted average	97.39	97.57	98.03	97.73	98.00	98.16
		Percent Collected Excluding Motor Vehicles Statewide weighted average	98.30	98.31	98.65	98.59	98.61	98.36
		Percent Collected Motor Vehicles Only	91.22	90.76	91.04	90.97	90.10	91.96
		Percent Collected Motor Vehicles Only Group weighted average	85.57	84.72	83.94	84.21	85.28	86.42
		Percent Collected Motor Vehicles Only Statewide weighted average	86.89	86.67	86.74	86.71	86.80	87.31
		Tax Uncollected	858,679	1,188,152	1,155,955	1,073,957	955,217	843,141
		Tax Rate Equivalent	0.0223	0.0317	0.0321	0.0315	0.0302	0.0282
		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	AAA	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	2,075,000	2,200,000	2,300,000	2,400,000	2,500,000	2,600,000
		Total General Obligation Debt	2,075,000	2,200,000	2,300,000	2,400,000	2,500,000	2,600,000
		Per Capita	$84	92	100	113	146	163
		Total Per Capita for the Population Group	132	130	153	166	163	190
		Total Per Capita Statewide	449	455	456	478	495	505
		Total per Assessed Valuation Adjusted for Current Year Sales	0.0479%	0.0486%	0.0558%	0.0660%	0.0751%	0.0834%
		Total per Assessed Valuation Adjusted for Current Year Sales- Group Average	0.1377%	0.1320%	0.1585%	0.1868%	0.1912%	0.2303%
		Total per Assessed Valuation Adjusted for Current Year Sales - Statewide	0.4104%	0.3909%	0.4132%	0.4706%	0.5275%	0.5588%
		Total Authorized but not Issued General Obligation Debt

		Installment Sales Purchases and Lease Obligations
		--Enterprise	$0	0	0	44,274	297,658	539,345
		--General Government	11,519,336	11,767,196	12,064,580	13,492,698	11,832,757	12,315,665
		Total*	$11,519,336	11,767,196	12,064,580	13,536,972	12,130,415	12,855,009
		* 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	2010	2009	2008	2007	2006	2005
	Population at July 1st of the Previous Year Adjusted for Boundry Changes		24,847	23,929	22,946	21,256	17,144	15,918

1.5A	FISCAL	Governmental Activities Assets	55,622,742	52,150,866	47,912,925	49,430,304	42,878,221	40,105,758
1.5B	SUMMARY	Governmental Activities Liabilities	16,551,551	16,813,035	16,646,255	18,573,540	15,865,032	16,567,239
3.5A		Business Type Activities Assets	6,397,450	6,079,066	5,954,294	5,055,531	4,885,294	4,939,091
3.5B		Business Type Activities Liabilties	519,398	459,803	377,151	465,152	724,975	995,025
6.5A		Fiduciary Funds Assets
6.5B		Fiduciary Funds Liabilties
10.0	PART 2	Current Collections of Unit -Wide Levy	9,723,296	9,336,731	8,954,548	8,486,659	7,484,060	7,114,654
11.0	TAX	Current Collections of Special Tax Districts
12.0	REVENUES	Prior Years' Levy Collections	133,574	98,286	81,371	73,880	159,959	151,189
13.0		Penalties and Interest	74,017	58,353	52,962	50,020	56,769	47,238
14.0		Collections of Taxes Previously Written Off
15.0		Animal Tax
15.1		Solid Waste Disposal Tax	16,512	6,906
16.0		1% Local Government Option Sales Tax	1,090,892	1,140,356	1,338,780	1,208,262	1,131,620	1,271,703
17.0		1/2% Local Government Option Sales Tax (40)	348,209	367,865	390,760	351,669	318,441	306,326
18.0		1/2% Local Government Option Sales Tax (42)	475,240	362,091	384,953	346,526	314,273	301,637
18.5		1/2% Local Government Option Sales Tax (44)	251,771	403,946	481,846	434,326	452,932	430,828
19.0		Privilege Licenses	5,564	102,981	160,809	110,949	108,329	66,864
19.2		Privilege -- All other privileges and pemits	49,325
20.0		Auto Licenses	892,858	957,160	980,093	905,818	802,853	711,825
21.0		Vehicle Tax for Public Transportation
22.0		Other Licenses	20,059	19,697	32,096	103,848	151,850	124,447
23.0		Local Occupancy Tax	178,553	203,152	253,764	246,862	244,013	203,517
24.0		Prepared Food Tax	271,263	309,702	319,593	348,476	241,534	209,993
25.0		911 Charges				133,518	119,929	137,878
26.0		Gross Short Term lease and Rental Tax	151,347	168,656	190,905	145,032	53,923	47,114
27.0	FEDERAL	Payments In Lieu of Taxes - Federal
28.0	INTERGOV	Equitable Sharing of Fed. Forfeited Prop.
29.0	REVENUES	General Government
30.0		Public Safety						7,937
31.0		Transportation - Streets
32.0		Transportation - All Other
33.0		Environmental Protection
34.0		Econ. & Phys. Dev. - Housing/Comm. Dev.				552,718	99,000	142,485
35.0		Econ. & Phys. Dev. - All Other
36.0		Human Services: Health, Mental Hlt & Hosp
37.0		Human Services: All Other
38.0		Culture & Recreation	351,776
39.0	STATE	Payments In Lieu of Taxes - State
40.0	INTERGOV	Unauthorized Substance Tax	135,883	5,893	3,653	2,603	65,023	26,574
41.0	REVENUES	Transitional Hold Harmless
42.0		Wireless Enhanced 911 Service Charges		313,888	263,613	155,193	139,447	118,624
42.1		Emergency Telephone Services Fund (ETSF) Revenues (Do not include interest)
42.2		ETSF Interest Income
43.0		Piped Natural Gas Charge Distribution
44.0		Utility Franchise Tax	1,821,366	1,099,859	1,016,328	773,967	653,175	664,514
45.0		Beer and Wine Tax	34,316	103,050	97,914	77,403	71,674	68,160
46.0		Powell Bill	600,392	655,120	683,064	516,846	493,884	470,936
50.0		Court Fees - Facilities and Arrest Fees
51.0		General Government
52.0		Public Safety	309,685	418,445	287,043	228,316		2,646
53.0		Transportation - Streets
54.0		Transportation - All Other		30,691	12,538
55.0		Environmental Protection	39,466		37,684
56.0		Econ. & Phys. Dev. - Housing/Community Dev		172,866
57.0		Econ. & Phys. Dev. - All Other
58.0		Human Services -Health, Mental Health, Hosp
59.0		Human Services - All Other
60.0		Culture and Recreation	307,117		65,500	1,893	2,092
61.0	LOCAL	Payments in Lieu of Taxes - Local
62.0	INTERGOV	General Government
63.0	REVENUES	Public Safety	11,639	344,154			350,201	263,662
64.0		Transportation - Streets	360,985
65.0		Transportation - All Other				12,045
66.0		Environmental Protection
67.0		Economic and Physical Development	15,000		19,500		75,000	129,274
68.0		Human Services - Health, Mental Hlt & Hosp
69.0		Human Services - All Other
70.0		Culture and Recreation	4,583					5,000
71.0	PERMITS	Building Permits	54,007
72.0	& FEES	Inspection Fees
72.1		Amusements licensing and permit taxes
73.0		Other Permits		70,247	127,872	97,034	80,656	335,748
74.0	SALES &	Parking Revenues
75.0	SERVICES	Rents and Royalties	6,246	5,600	10,655	14,145	7,628	8,721
76.0		Airport
77.0		Fire Protection Charges
78.0		Solid Waste
79.0		Ambulance and Rescue Squad Charges
80.0		Cemeteries
81.0		Recreation Service Revenues		332,910	332,465	281,537	238,703	261,110
82.0		Library Service Revenues
83.0		Other Cultural and Rec Service Revenues
84.0		Mass Transit - City Operated
85.0		Other Sales and Services
86.0	UTILITY	Water and Sewer Charges
87.0	REVENUES	Electric Charges	4,267,380	3,998,099	4,753,904	4,050,721	3,760,433	3,895,118
88.0		Gas Charges
88.1		Storm Water Fees	344,023	339,817	312,484	297,598	279,751
89.0	MISC.	Investment Earnings - Bond Proceeds
90.0	REVENUES	Investment Earnings - All Other Funds	123,040	281,657	721,699	740,873	517,141	251,303
91.0		Special Assessments
92.0		Private Contributions and Donations	328,518		153,781	349,770	277,860	1,286,827
93.0		Sales of Materials and Fixed Assets	4,980		2,500
94.0		Sale of Real Property						76,109
95.0		Nongovt Contr For Streets & Traffic Signals
96.0		ABC Mixed Drink Surcharge
97.0		ABC Profit Distribution	52,632	70,750	44,625	42,500	42,500	40,000
98.0		Other Miscellaneous Revenues	380,665	206,123	235,585	241,150	157,864	138,175
99.0		Proceeds of Sale of Bonds and Notes	2,075,000
100.0		Proceeds of Capital Leases/Install Purchases	1,825,000	544,665	1,750,000	3,475,670	1,239,500	600,000
101.0		Other		79,814
102.0	NON-REV	School - Current Levy Collections	9,723,296	9,336,731	8,954,548	9,352,147	8,286,913	7,826,479
103.0	RECEIPTS	Prior Years' Levy Collections	133,574	98,178	81,371	114,211	159,959	151,189
104.0		Tax Collections for Other Units
105.0		Utilities Customer's Deposits	12,040	-1,106	7,917	4,281	-21,619	4,382
106.0		Deposits Other than Utility
107.0		Prepaid Taxes
108.0		Prepaid Privilege Licenses
109A	PART 4	Governing Body - Salaries & Wages	52,894	16,993	49,567	47,933	42,256	37,127
109B	GENERAL	Governing Body - Other Direct	15,902	52,051	18,767	16,564	18,196	25,121
109C	GOVT	Governing Body - Construction
109D		Governing Body - Purchase of P,P&E
110A		Administration - Salaries & Wages	1,007,937	712,630	699,135	691,134	598,990	595,124
110B		Administration - Other Direct	882,150	1,005,200	866,172	761,245	654,252	852,879
110C		Administration - Construction
110D		Administration - Purchase of P,P&E	120,743	52,309	45,098
111A		Elections - Salaries & Wages
111B		Elections - Other Direct
111C		Elections - Construction
111D		Elections - Purchase of P,P&E
112A		Finance - Salaries & Wages
112B		Finance - Other Direct
112C		Finance - Construction
112D		Finance - Purchase of P,P&E
113A		Taxes - Salaries & Wages
113B		Taxes - Other Direct
113C		Taxes - Construction
113D		Taxes - Purchase of P,P&E
114A		Legal - Salaries & Wages
114B		Legal - Other Direct
114C		Legal - Construction
114D		Legal - Purchase of P,P&E
115A		Public Buildings - Salaries & Wages
115B		Public Buildings - Other Direct
115C		Public Buildings - Construction
115D		Public Buildings - Purchase of P,P&E
116A		Court Facilities - Salaries & Wages
116B		Court Facilities - Other Direct
116C		Court Facilities - Construction
116D		Court Facilities - Purchase of P,P&E
117A		Central Services - Salaries & Wages
117B		Central Services - Other Direct
117C		Central Services - Construction
117D		Central Services - Purchase of P,P&E
118A		Gen. Govt. All Other - Salaries & Wages
118B		Gen. Govt. All Other - Other Direct					121,861
118C		Gen. Govt. All Other - Construction
118D		Gen. Govt. All Other - Purchase of P,P&E
119A	PUBLIC	Police & Comm - Traffic Control - Salaries and Wages	2,853,738	1,918,224	1,835,404	1,816,989	1,647,253	1,569,263
119B	SAFETY	Police & Comm - Traffic Control - Other Direct	716,085	1,180,689	1,005,819	996,921	1,029,449	924,680
119C		Police & Comm - Traffic Control - Construction
119D		Police & Comm - Traffic Control - Purchase of P,P&E	654,702	468,971	287,802	28,224		322,921
120A		Emergency Communications - Salaries & Wages		432,005	447,619	390,897	382,667	348,610
120B		Emergency Communications - Other Direct		283,766	314,615	284,922	284,093	285,156
120C		Emergency Communications - Construction
120D		Emergency Communications - Purchase of P,P&E		68,341	63,082			5,374
120B		Emergency Telephone Service Fund (ETSF) Expenditures - Operating	82,490
120C		ETSF Expenditures - Capital Construction
120D		ETSF Expenditures - Capital Purchases
121A		Emergency Mgmt - Salaries & Wages
121B		Emergency Mgmt - Other Direct
121C		Emergency Mgmt - Construction
121D		Emergency Mgmt - Purchase of P,P&E
122A		Fire - Salaries & Wages
122B		Fire - Other Direct	953,000	1,021,000	900,000	1,286,670	782,423	738,156
122C		Fire - Construction				461,582
122D		Fire - Purchase of P,P&E	372,322	64,585	2,477,128		410,000	160,746
123A		Inspectors - Salaries & Wages
123B		Inspectors - Other Direct
123C		Inspectors - Construction
123D		Inspectors - Purchase of P,P&E
124A		Rescue Units - Salaries & Wages
124B		Rescue Units - Other Direct
124C		Rescue Units - Construction
124D		Rescue Units - Purchase of P,P&E	80,696	41,213	39,650	38,583	37,129	36,058
125A		Animal Control - Salaries & Wages	39,881	28,034	26,194	25,194	23,432	21,717
125B		Animal Control - Other Direct		467,253
125C		Animal Control - Construction	216,097		4,937
125D		Animal Control - Purchase of P,P&E	608,531
126A		Pub. Safety All Other - Salaries & Wages	58,448
126B		Pub. Safety All Other - Other Direct
126C		Pub. Safety All Other - Construction	244,427
126D		Pub. Safety All Other - Purchase of P,P&E
127A	TRANSPOR	Traffic Engineering - Salaries & Wages
127B	TATION	Traffic Engineering - Other Direct
127C		Traffic Engineering - Construction
127D		Traffic Engineering - Purchase of P,P&E	443,043	353,762	343,155	317,967	314,856	275,281
128A		Streets and Highways - Salaries & Wages	609,534	631,480	620,077	633,010	918,342	516,085
128B		Streets and Highways - Other Direct	2,751,924		352,425	349,734	525,822	3,426,301
128C		Streets and Highways - Construction	394,177	824,360	282,837	534,602	403,857	88,988
128D		Streets and Highways - Purchase of P,P&E
129A		Street Cleaning - Salaries & Wages
129B		Street Cleaning - Other Direct
129C		Street Cleaning - Construction
129D		Street Cleaning - Purchase of P,P&E
130A		Powell Bill - Salaries & Wages
130B		Powell Bill - Other Direct	84,190	57,343	131,018	34,746	27,463	15,720
130C		Powell Bill - Construction	242,892	616,461	790,681	891,338	166,919	148,656
130D		Powell Bill - Purchase of P,P&E			11,670
131A		Parking Facilities - Salaries & Wages
131B		Parking Facilities - Other Direct
131C		Parking Facilities - Construction
131D		Parking Facilities - Purchase of P,P&E
132A		Mass Transit - City - Salaries & Wages
132B		Mass Transit - City - Other Direct
132C		Mass Transit - City - Construction
132D		Mass Transit - City - Purchase of P,P&E
133B		Mass Transit - Private - Other Direct
134A		Airport - Salaries & Wages
134B		Airport - Other Direct
134C		Airport - Construction
134D		Airport - Purchase of P,P&E
135A		Transpor. All Other - Salaries & Wages
135B		Transpor. All Other - Other Direct	93,320	21,936
135C		Transpor. All Other - Construction
135D		Transpor. All Other - Purchase of P,P&E
136A	ENVIRON	Solid Waste - Salaries & Wages
136B	MENTAL	Solid Waste - Other Direct	1,752,431	1,847,025	1,642,079	1,322,537	1,246,660	1,129,677
136C	PROTECTION	Solid Waste - Construction
136D		Solid Waste - Purchase of P,P&E
137A		Drainage & Watershed - Salaries & Wages
137B		Drainage & Watershed - Other Direct			28,020	21,950	19,026	56,672
137C		Drainage & Watershed - Construction			54,500	10,000	17,756	24,570
137D		Drainage & Watershed - Purchase of P,P&E
138A		Cemeteries - Salaries & Wages
138B		Cemeteries - Other Direct
138C		Cemeteries - Construction
138D		Cemeteries - Purchase of P,P&E
139A		Environ. All Other - Salaries & Wages
139B		Environ. All Other - Other Direct
139C		Environ. All Other - Construction
139D		Environ. All Other - Purchase of P,P&E
140A	ECONOMIC	Planning & Zoning - Salaries & Wages	371,848	334,807	285,073	240,028	214,765	209,160
140B	& PHYSICAL	Planning & Zoning - Other Direct	110,567	260,029	281,240	200,813	159,436	190,209
140C	DEVELOP	Planning & Zoning - Construction
140D		Planning & Zoning - Purchase of P,P&E				18,236
141A		Economic Development - Salaries & Wages
141B		Economic Development - Other Direct
141C		Economic Development - Construction
141D		Economic Development - Purchase of P,P&E
142A		Community Development - Salaries & Wages
142B		Community Development - Other Direct
142C		Community Development - Construction
142D		Community Development - Purchase of P,P&E
143A		Housing & Urban Renewal - Salaries & Wages
143B		Housing & Urban Renewal - Other Direct
143C		Housing & Urban Renewal - Construction				554,353	222,670	416,070
143D		Housing & Urban Renewal - Purchase of P,P&E
144A		Special Empl Programs - Salaries & Wages
144B		Special Empl Programs - Other Direct
144C		Special Empl Programs - Construction
144D		Special Empl Programs - Purchase of P,P&E
145A		Econ. Dev. All Other - Salaries & Wages				7,069	16,482	27,696
145B		Econ. Dev. All Other - Other Direct		559,588	584,254	551,799	499,829	388,384
145C		Econ. Dev. All Other - Construction			6,300
145D		Econ. Dev. All Other - Purchase of P,P&E
146A	HUMAN	Health - Salaries & Wages
146B	SERVICES	Health - Other Direct
146C		Health - Construction
146D		Health - Purchase of P,P&E
147A		Mental Health - Salaries & Wages
147B		Mental Health - Other Direct
147C		Mental Health - Construction
147D		Mental Health - Purchase of P,P&E
148A		Social Services - Salaries & Wages
148B		Social Services - Other Direct
148C		Social Services - Construction
148D		Social Services - Purchase of P,P&E
149B		Hospital-City - Other Direct
150B		Hospital-Private - Other Direct
151A		Legal Aid - Salaries & Wages
151B		Legal Aid - Other Direct
151C		Legal Aid - Construction
151D		Legal Aid - Purchase of P,P&E
152A		Human Serv. All Other - Salaries & Wages
152B		Human Serv. All Other - Other Direct
152C		Human Serv. All Other - Construction
152D		Human Serv. All Other - Purchase of P,P&E
153A	CULTURE	Recreation & Parks - Salaries & Wages	708,396	553,289	508,516	462,978	370,819	319,217
153B	RECREATION	Recreation & Parks - Other Direct	613,583	742,745	829,821	713,278	633,926	522,339
153C		Recreation & Parks - Construction	996,120			487,663	3,952	569,941
153D		Recreation & Parks - Purchase of P,P&E	44,059	300,426	212,699		853,079
154A		Coliseum - Salaries & Wages
154B		Coliseum - Other Direct
154C		Coliseum - Construction
154D		Coliseum - Purchase of P,P&E
155A		Museums - Salaries & Wages
155B		Museums - Other Direct
155C		Museums - Construction
155D		Museums - Purchase of P,P&E
156A		Libraries - Salaries & Wages
156B		Libraries - Other Direct
156C		Libraries - Construction
156D		Libraries - Purchase of P,P&E
157A		Cult. & Recr. All Other - Salaries & Wages
157B		Cult. & Recr. All Other - Other Direct	561,843
157C		Cult. & Recr. All Other - Construction				200,489
157D		Cult. & Recr. All Other - Purchase of P,P&E
158A	UTILITY	Water & Sewer - Salaries & Wages
158B		Water & Sewer - Other Direct
158C		Water & Sewer - Construction
158D		Water & Sewer - Purchase of P,P&E
159A		Electric Power - Salaries & Wages	377,709	410,462	356,870	331,916	263,842	262,467
159B		Electric Power - Other Direct	3,302,508	3,251,173	3,163,159	3,045,811	3,003,363	2,700,473
159C		Electric Power - Construction
159D		Electric Power - Purchase of P,P&E	654,084	719,256	843,140	380,908	247,297	328,500
160A		Natural Gas - Salaries & Wages
160B		Natural Gas - Other Direct
160C		Natural Gas - Construction
160D		Natural Gas - Purchase of P,P&E
161.1A		Storm Water - Salaries & Wages
161.1B		Storm Water - Other Direct	149,809	62,993
161.1C		Storm Water - Construction		19,046
161.1D		Storm Water - Purchase of P,P&E
161B	DEBT	Water & Sewer - Interest & Fees
161D	SERVICE	Water & Sewer - Principal
162B		Electric - Interest & Fees	17,000	8,933	4,441	17,873	55,501	38,178
162D		Electric - Principal		80,000	45,127	337,071	264,014	250,937
163B		Gas - Interest & Fees
163D		Gas - Principal
164B		School - Interest & Fees
164D		School - Principal
165B		Hospital - Interest & Fees
165D		Hospital - Principal
166B		All Other - Interest & Fees	590,266	554,222	668,321	570,243	607,311	551,808
166D		All Other - Principal	1,948,290	2,051,221	3,612,865	1,578,951	1,998,532	2,045,684
167B	PENSION	Direct Benefit Program - Other Direct
168B	FRINGE	Fringe Benefits Unallocated
169B		Separation Allowance - Law Enforcement	17,777	32,537	47,617	31,663	16,880
170B		Separation Allowance - Other Employees
171B		Supplemental Retirement - Law Enforcement	96,728	100,030	82,200	83,290	78,603	89,467
172B		Fringe Benefits Other
173A	INTERGOV	Multi-Cnty Libr Dis,Cnty,Or Other - Recipient
173B	EXPEND	Multi-Cnty Libr Dis,Cnty,Or Other - Item #
173C		Multi-Cnty Libr Dis,Cnty,Or Other - Amount
174A		Gen Gov Activities Shared W/ Cnty - Recipient
174B		Gen Gov Activities Shared W/ Cnty - Item #
174C		Gen Gov Activities Shared W/ Cnty - Amount
175A		Highways (Payments to State) - Recipient
175B		Highways (Payments to State) - Item No.
175C		Highways (Payments to State) - Amount
176A		Other - Intergovt. Expenditures - Recipient
176B		Other - Intergovt. Expenditures - Item #
176C		Other - Intergovt. Expenditures - Amount
177A		Other - Intergovt. Expenditures - Recipient
177B		Other - Intergovt. Expenditures - Item #
177C		Other - Intergovt. Expenditures - Amount
178A		Other - Intergovt. Expenditures - Recipient
178B		Other - Intergovt. Expenditures - Item #
178C		Other - Intergovt. Expenditures - Amount
179.0		Current year's levy -- Excluding motor vehicles	9,879,844.	9,560,251.00	9,140,373.00	8,631,601.00	7,602,920.00	7,239,322.00
180.0		Current year's levy -- Motor vehicles (only)	727,858.	1,006,444.00	1,033,558.00	967,425.00	862,684.00	745,119.00
181.0	PART 6	Uncollected Taxes - Current Year's Levy Except Mot Veh	130,821.	181,708.00	122,397.00	106,532.00	92,533.00	98,022.00
182.0	OTHER	Uncollected Taxes - CY Levy -Motor Vehicles	63,893	93,014	92,616	87,313	85,434	59,922
183.0	DATA	Percentage of Taxes Collected - All Property %	98.16	97.40	97.89	97.98	97.90	98.02
184.0	DATA	Percentage of Taxes Collected - Exclude Motor Vehicles%	98.68	98.10	98.66	98.77	98.78	98.65
185.0		Percentage of Taxes Collected - Motor Vehicles %	91.22	90.76	91.04	90.97	90.10	91.96
186.0		Ttl Amt Salaries/Wages for Construction
187A		Capital Reserve Schools - July 1, 2009
187B		Capital Reserve Schools - June 30, 2010
188A		Capital Reserve Hospitals - July 1, 2009
188B		Capital Reserve Hospitals - June 30, 2010
189A	PART 7	Cash On Hand & in Bank - Debt Service
189B	CASH &	Cash On Hand & in Bank - Construction Bond
189C	INVEST	Cash On Hand & in Bank - All Other	18,175,028	19,029,139	16,777,632	17,422,085	11,948,210	3,059,158
190A	PART	Appropriations Made During FY - B(1) - B(7)
190B	8	Expenditures Made During FY - B(1) - B(7)
191.0		Investment in Property - B(1) - B(4)
192.0		Amount Expended During FY - B(5) and B(7)
193.0		Amount of Tax Revenues Taken Into Account
194A	PART 9	Amount - Total Revenues	28,208,822	24,281,406	25,806,929	26,192,154	21,398,290	20,134,373
194B	FISCAL	Amount - Subtract Refunding Bond Proceeds
194C	SUMMARY	Amount - Subtract Interfund Transfers In	780,000	1,671,876	1,252,042	1,334,327	1,206,273	216,237
194D		Amount - Net Revenues	27,428,822	22,609,530	24,554,887	24,857,827	20,192,017	19,918,136
		Calculated amount	27,136,179	22,609,530	24,554,887	24,857,827	20,192,017	19,918,136
		Amounts in AGREEMENT??	No	Yes	Yes	Yes	Yes	Yes
		Difference	292,643
195A		Amount - Total Expenditures	26,672,141	23,878,264	26,121,136	22,111,501	20,389,276	20,731,649
195B		Amount - Subtract Pymts. to Refunded Debt Agent
195C		Amount - Subtract Interfund Transfers Out	780,000	1,671,876	1,252,042	1,334,327	1,206,273	216,237
195D		Amount - Net Expenditures	25,892,141	22,206,388	24,869,094	20,777,174	19,183,003	20,515,412
		Calculated amount	25,892,141	22,206,388	24,869,094	20,777,174	19,183,003	20,515,412
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference

401A	Part 10	Number of residential accounts billed Water
401B	Water /	Number of residential accounts billed Sewer
402A	Sewer	Amount processed and/or purchased in units Water
402B	Operations	Amount processed and/or purchased in units Sewer
403A		Total amount billed in units - Water
403B		Total amount billed in units - Sewer
404A		Of the total in 403A above how many units were Residential W
404B		Of the total in 403B above how many units were Residential S
405A		Of the total in 403 above, how many units were Outside Muni W
405B		Of the total in 403 above, how many units were Outside Muni S
406A		Of the total in 405A above how many units were Residential W
406B		Of the total in 405B above how many units were Residential S
407A		Of the total in 403A, how many units were sold for redistribution
407B		Of the total in 403B how many unit were delivered in bulk
408A		Dollars related to 403A above
408B		Dollars related to 403B above
409A		Dollars related to 404A above
409B		Dollars related to 404B above
410A		Dollars related to 405A above
410B		Dollars related to 405B above
411A		Dollars related to 406A above
411B		Dollars related to 406B above
412A		Dollars related to 407A above
412B		Dollars related to 407B above
421A		Number of residential accounts billed - Water
421B		Number of residential accounts billed - Sewer
422A		Number of non-residential & bulk accounts billed - Water
422B		Number of non-residential & bulk accounts billed - Sewer	2	2	2	2	2	2
423A		Estimated percentage of accounts outside of municipal limits



950.0		Official	Julie Niswonger
951.0		Title	Accountant
952.0		Date	11/24/2010	12/21/2009	02/04/2009	12/21/2007	11/01/2006	12/01/2005
953.0		Contact	Julie Niswonger
954.0		Title	Accountant
955.0		Phone	704-892-6031
956.0		Fax	704-896-2465
957.0		E-Mail:

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

	2010	2009	2008	2007	2006	2005

Population	24,847	23,929	22,946	21,256	17,144	15,918
Power Agency Group	N.C. Municipal Power Agency Number 1
Total Operating Revenues	$4,267,380	3,998,099	4,753,904	4,050,721	3,760,433	3,895,118
Group Weighted Average	20,080,828	19,185,543	19,352,715	18,278,223	17,554,862	16,771,004

% to Total Operating Revenues
Power Purchases	69.8%	69.5%	57.7%	67.8%	71.6%	62.2%
Group Weighted Average	79.2%	79.4%	78.1%	78.5%	81.7%	82.4%

Other Operating Expenses	23.8%	29.3%	21.6%	21.6%	21.4%	19.5%
Group Weighted Average	16.7%	18.9%	17.4%	18.6%	18.0%	15.5%

Operating Margin	6.4%	1.2%	20.6%	10.7%	7.0%	18.2%
Group Weighted Average	4.2%	1.7%	4.5%	2.9%	0.3%	2.1%

Operating Transfers In	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Group Weighted Average	0.2%	0.2%	0.2%	1.9%	0.3%	2.8%

Operating Transfers Out	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Group Weighted Average Out	2.4%	3.3%	2.9%	2.6%	2.1%	2.3%

Net Income	6.1%	1.1%	20.8%	10.6%	5.8%	17.4%
Group Weighted Average	2.1%	-1.1%	4.1%	5.6%	-0.2%	4.1%

Key Ratios and Cash Flow

Quick Ratio	1.5	2.2	2.6	1.5	1.2	1.3
Group Weighted Average	3.7	3.9	3.8	4.1	4.0	4.6

Coverage Ratio	1.15	1.12	1.43	1.11	1.01	1.24
Group Weighted Average	1.06	1.02	1.09	1.09	1.03	1.05

Days Sales in Receivables	56.0	49.0	36.7	40.4	44.8	41.1
Group Weighted Average	38.1	34.8	35.6	34.7	31.5	33.1

Days Cash on Hand	59.1	64.2	58.8	36.8	44.3	78.7
Group Weighted Average	110.6	106.9	115.1	109.4	125.8	143.8

Cash flow from Operations	$480,665	413,596	1,177,885	673,824	464,606	1,030,072

Capital Expenditures:	$0	0	0	0	0	0


	2010	2009	2008	2007	2006	2005
Capital Contributions: Excluded from Income Above	$0	0	0	0	0	0

Operating Transfers to the General Fund as a % of GF Revenues	2010	2009	2008	2007	2006	2005
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

	2004	2003	2002	2001	2000	1999
	0.09%	0.07%	0.10%	0.11%	0.17%	0.25%

Gross Electric Fund Assets as Cost	$8,336,776	7,890,566	7,020,455	6,571,540	6,190,632	5,943,335
Estimated Tax Loss from Municipal Ownership of Utility	$22,926	$21,699	19,306	18,072	16,096	15,453
Tax Rate Equivalent	0.0006	0.0006	0.0005	0.0005	0.0005	0.0005

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	0.2446	0.2280	0.2402	0.2578	0.2472	0.2491

Tax Rate Adjusted Excluding Transfers	0.2446	0.2280	0.2402	0.2578	0.2472	0.2491

Weighted Average Group Rate Adjusted	0.4230	0.3911	0.3938	0.4015	0.4080	0.4127

Weighted Average Non Electric Adjusted Rate	0.4191	0.4007	0.4107	0.4309	0.4353	0.4419

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

	2006	2007	2008	2009	2010
Unit's FBA %	64.55%	58.61%	56.81%	49.30%	53.21%
Group average FBA %	40.17%	37.01%	38.75%	39.96%	38.21%
State average Electric/Non Electric Group FBA %	35.62%	33.92%	35.35%	34.57%	33.61%
State average FBA %	36.96%	36.54%	40.17%	37.09%	37.79%

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

Go to top of page

2006 2007 2008 2009 2010

Municipality 97.90% 97.98% 97.89% 97.40% 98.16%

Pop. Group 96.74% 96.51% 96.79% 96.54% 96.64%

Statewide 97.55% 97.58% 97.56% 97.36% 97.61%

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

	2006	2007	2008	2009	2010
Municipality	97.90%	97.98%	97.89%	97.40%	98.16%
Pop. Group	96.74%	96.51%	96.79%	96.54%	96.64%
Statewide	97.55%	97.58%	97.56%	97.36%	97.61%

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

Go to top of page

2006 2007 2008 2009 2010

Municipality 146 113 100 92 84

Pop. Group 163 166 153 130 132

Statewide 495 478 456 455 449

Municipal Population Group: 10,000 to 24,999

	2006	2007	2008	2009	2010
Municipality	146	113	100	92	84
Pop. Group	163	166	153	130	132
Statewide	495	478	456	455	449

Municipal Population Group: 10,000 to 24,999

Go to top of page

2006 2007 2008 2009 2010

Property Tax $449 405 396 397 400

Utility 219 191 207 167 172

Sales Tax 130 110 113 95 86

Sales & Services 19 18 21 17 0

Intergovernmental 117 116 117 138 167

Debt Proceeds 9 11 10 9 99

Other Miscellaneous 235 318 206 118 167

Total $1,178 1,169 1,070 941 1,091

	2006	2007	2008	2009	2010
Property Tax	$449	405	396	397	400
Utility	219	191	207	167	172
Sales Tax	130	110	113	95	86
Sales & Services	19	18	21	17	0
Intergovernmental	117	116	117	138	167
Debt Proceeds	9	11	10	9	99
Other Miscellaneous	235	318	206	118	167
Total	$1,178	1,169	1,070	941	1,091

Go to top of page

2010
2010

Category Revenue
Per Capita

Property Tax $9,930,887
$400

Water/Sewer 0
0

Electric 0
0

Utility 4,267,380
172

Sales Tax 2,166,112
86

Sales & Services 6,246
0

Intergovernment 4,138,972
167

Debt Proceeds 2,455,665
99

Miscellaneous 4,154,405
167

Total $27,119,667
$1,091

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

Go to top of page

2010
2010

Category Expenditures
Per Capita

General Government $2,079,626
$83

Water/Sewer 561,843
23

Electric 0
0

Other Utilities 3,922,267
158

Debt Service 2,555,556
103

Transportation 4,619,080
186

Public Safety 6,994,922
282

Other 5,158,847
208

Total $25,892,141
$1,042

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

Go to top of page

2010
2010

Category Expenditures
Per Capita

Salaries & Wages $6,162,875
$248

Water/Sewer Capital 0
0

Electric Capital 0
0

Capital Outlay 4,855,796
195

Other Operating 14,657,373
590

Total $25,676,044
$1,033

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

Last Updated 5/4/2011 8:18:33 PM



	2010	2010
Category	Revenue	Per Capita
Property Tax	$9,930,887	$400
Water/Sewer	0	0
Electric	0	0
Utility	4,267,380	172
Sales Tax	2,166,112	86
Sales & Services	6,246	0
Intergovernment	4,138,972	167
Debt Proceeds	2,455,665	99
Miscellaneous	4,154,405	167
Total	$27,119,667	$1,091

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