North Carolina
Department of State Treasurer
Financial Information
Town of Fremont

Financial Profile | General Fund | Enterprise Funds | Cash, Investments and Financing
Annual Financial Information Report Detail | Water/Sewer Information
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			2008	2007	2006	2005	2004	2003
	Revenues by Source
		Property Tax	$314,358	307,224	305,248	312,129	228,865	204,024
		Utility	2,340,305	2,294,947	2,232,899	2,058,243	2,008,455	1,824,650
		Sales Tax	151,555	152,040	167,137	125,183	122,053	103,205
		Sales & Services	109,404	143,470	126,886	120,709	121,964	112,133
		Intergovernmental	1,501,706	437,424	318,768	1,303,638	1,161,451	1,179,392
		Debt Proceeds	-	-	-	-	-	-
		Other Miscellaneous	133,168	179,315	166,633	48,587	166,772	387,382
		Total	$4,550,496	3,514,420	3,317,571	3,968,489	3,809,560	3,810,786

	Expenditures by Function
		Utility	$3,517,347	2,801,533	2,083,496	2,835,244	2,639,733	3,022,500
		Debt Service	86,407	91,176	116,352	75,943	44,544	43,553
		Transportation	127,763	139,068	129,712	220,431	122,246	125,866
		General Government	224,966	245,874	301,331	199,697	474,125	238,053
		Public Safety	330,411	310,000	634,033	255,285	294,418	273,762
		Other	173,060	109,962	109,024	298,162	379,418	199,516
		Total	$4,459,954	3,697,613	3,373,948	3,884,762	3,954,484	3,903,250

	Expenditures by Object
		Salaries & Wages	$848,995	728,254	692,564	693,363	769,113	798,665
		Capital Outlay	1,431,205	360,377	517,385	942,866	811,429	1,508,408
		Other Operating + Debt Service	2,179,754	2,608,982	2,163,999	2,248,533	2,373,942	1,596,177
		Total	$4,459,954	3,697,613	3,373,948	3,884,762	3,954,484	3,903,250


	Per Capita Revenues by Source
		Property Tax	$223	217	214	218	160	142
		Utility	1,657	1,617	1,563	1,437	1,406	1,268
		Sales Tax	108	108	116	88	87	71
		Sales & Services	77	101	89	84	85	78
		Intergovernmental	1,064	308	223	910	813	820
		Debt Proceeds	-	-	-	-	-	-
		Other Miscellaneous	94	126	117	34	117	269
		Total	$3,223	2,477	2,322	2,771	2,668	2,648

	Per Capita Expenditures by Function
		Utility	$2,491	1,974	1,458	1,980	1,849	2,100
		Debt Service	61	64	81	53	31	30
		Transportation	90	98	91	154	86	87
		General Government	160	175	211	140	331	166
		Public Safety	234	218	444	178	206	190
		Other	123	77	76	208	266	139
		Total	$3,159	2,606	2,361	2,713	2,769	2,712

	Per Capita Expenditures by Object
		Salaries & Wages	$601	513	485	484	539	555
		Capital Outlay	1,014	254	362	658	568	1,048
		Other Operating	1,544	1,839	1,514	1,571	1,662	1,109
		Total	$3,159	2,606	2,361	2,713	2,769	2,712

	Population Group		Electric 1,000 to 2,499	Electric 1,000 to 2,499	Electric 1,000 to 2,499	Electric 1,000 to 2,499	Electric 1,000 to 2,499	Electric 1,000 to 2,499
		Number of Municipalites in Group	8	9	9	9	10	10
		Average Population In Group	1,854	1,906	1,915	1,922	1,990	2,002
		Town of Fremont Population	1,412	1,419	1,429	1,432	1,428	1,439
	Group Average Per Capita Revenues by Source
		Property Tax	176	186	178	178	155	148
		Utility	1,578	1,816	1,731	1,605	1,498	1,483
		Sales Tax	132	143	131	125	107	95
		Sales & Services	79	111	86	84	71	60
		Intergovernmental	258	253	337	293	319	517
		Debt Proceeds	37	1	44	18	0	44
		Other Miscellaneous	108	153	130	111	103	124
		Total	2,368	2,663	2,637	2,414	2,253	2,471

	Group Average Per Capita Expenditures by Function
		Utility	1,531	1,686	1,748	1,598	1,514	1,475
		Debt Service	82	86	88	83	72	59
		Transportation	70	130	122	130	160	118
		General Government	134	120	111	145	134	139
		Public Safety	281	312	310	272	257	243
		Other	206	217	193	188	190	436
		Total	2,304	2,551	2,572	2,416	2,327	2,470

	Group Average Per Capita Expenditures by Object
		Salaries & Wages	540	564	532	536	514	494
		Capital Outlay	175	130	202	185	167	311
		Other Operating	1,589	1,857	1,838	1,695	1,646	1,665
		Total	2,304	2,551	2,572	2,416	2,327	2,470


General Fund Go to top of page			2008	2007	2006	2005	2004	2003
	General Fund revenues		$853,555	877,155	1,028,317	787,584	996,720	648,113
	General Fund expenditures		874,800	828,925	1,179,605	797,459	1,027,912	822,947
	Operating transfers in		40,000	38,600	38,600	38,600	30,000	33,000
	Operating transfers out		10,132	92,995	78,157	10,131	1,711	-
	Capital leases and installment purchase proceeds		-	-	250,000	-	-	-
	Other items		-	4,613	8,117	2,300	-	-
	Excess of revenues and other sources over (under) expenditures and other uses		8,623	(1,552)	67,272	20,894	(2,903)	(141,834)

	Fund balance available (FBA):
		In dollars	$522,610	521,382	362,023	302,436	288,058	213,810
		FBA as a % of GF Net Expenditures:
		Unit's FBA %	59.06	56.55	35.92	37.45	27.98	25.98
		Group weighted average FBA %	83.14	82.79	74.69	74.93	62.49	64.82
		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, Water/Sewer

	Combined financial results:
		Working capital	$530,343	463,681	544,390	483,016	549,333	747,881
		Quick ratio	1.60	1.58	1.61	1.57	1.73	2.28
		Net income	1,230,335	50,108	89,475	(255,472)	(485,839)	1,024,918
		Cashflow from operations	20,977	78,516	(70,179)	176,580	(253,715)	(81,319)
		Depreciation & Amortization Expense	237,919	241,022	123,502	172,624	225,242	227,213



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

		Population at July 1st of the Previous Year	1,412	1,419	1,429	1,432	1,428	1,439
		Population Group	Electric 1,000 to 2,499	Electric 1,000 to 2,499	Electric 1,000 to 2,499	Electric 1,000 to 2,499	Electric 1,000 to 2,499	Electric 1,000 to 2,499
		Cash &Investments	$710,431	818,000	891,499	956,864	921,056	1,030,250
		Investment Earnings	37,605	47,457	38,222	14,374	7,951	14,597
		Tax Rate Equivalent	0.0773	0.0985	0.0803	0.0302	0.0164	0.0385
		Tax Rate Equivalent Group weighted average	0.1522	0.1970	0.1385	0.0731	0.0500	0.0821
		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	1995
		January 1, Prior Year Assessed Valuation	$48,636,611	48,181,824	47,607,264	47,527,814	48,612,004	37,935,869
		Tax Rate	0.6500	0.6500	0.6500	0.6500	0.5500	0.5500
		Tax Rate Group weighted average	0.5299	0.4726	0.4667	0.4693	0.4665	0.4507
		Tax Rate State Wide	0.4254	0.4455	0.4321	0.4448	0.4566	0.4594
		Assessment -to-Sales Ratio	87.95	90.83	94.52	98.22	99.87	74.50
		Assessment -to-Sales Ratio Group weighted average	81.16	80.86	86.99	90.60	87.47	89.26
		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	$55,300,297	53,046,157	50,367,397	48,389,141	48,675,282	50,920,630
		EffectiveTax Rate	0.5717	0.5904	0.6144	0.6384	0.5493	0.4098
		Group weighted average Effective Tax Rate	0.4301	0.3821	0.4060	0.4252	0.4080	0.4023
		Statewide weighted average Effective Tax Rate	0.3765	0.3939	0.3987	0.4108	0.4209	0.4113
		Percent Collected	93.10	92.24	91.71	92.23	89.98	91.86
		Percent Collected Group weighted average	94.62	93.09	93.37	92.77	91.33	90.84
		Percent Collected Statewide	97.97	97.59	97.55	97.42	97.31	96.96
		Percent Collected Excluding Motor Vehicles	95.32	94.50	94.62	94.82	93.32	96.46
		Percent Collected Excluding Motor Vehicles Group weighted average	94.05	95.10	95.05	94.31	93.36	94.06
		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	79.03	76.88	75.28	79.95	70.75	75.10
		Percent Collected Motor Vehicles Only Group weighted average	79.34	80.71	81.67	83.05	77.72	74.35
		Percent Collected Motor Vehicles Only Statewide weighted average	86.74	86.71	86.80	87.31	87.62	86.69
		Tax Uncollected	9,164	24,207	26,170	23,909	25,373	18,489
		Tax Rate Equivalent	0.0188	0.0502	0.0550	0.0503	0.0522	0.0487
		Dominant County: Wayne
	Debt Information
		Population Group	1,000 to 2,499	1,000 to 2,499	1,000 to 2,499	1,000 to 2,499	1,000 to 2,499	1,000 to 2,499
		Ratings:
		Fitch
		Moody's
		S & P

		General Obligation Debt (GO) where the taxing power of the entrire municipality is pledged to pay the obligation
		Enterprise GO Debt	$825,381	843,381	859,881	875,881	890,381	904,881
		General Government GO Debt	0	0	0	0	0	0
		Total General Obligation Debt	825,381	843,381	859,881	875,881	890,381	904,881
		Per Capita	$585	594	602	612	624	629
		Total Per Capita for the Population Group	274	294	297	306	297	#N/A
		Total Per Capita Statewide	456	478	495	505	548	#N/A
		Total per Assessed Valuation Adjusted for Current Year Sales	1.4925%	1.5899%	1.7072%	1.8101%	1.8292%	1.7770%
		Total per Assessed Valuation Adjusted for Current Year Sales- Group Average	0.1848%	0.2336%	0.2606%	0.2847%	0.2930%	#N/A
		Total per Assessed Valuation Adjusted for Current Year Sales - Statewide	0.4131%	0.4706%	0.5275%	0.5588%	0.6442%	#N/A
		Total Authorized but not Issued General Obligation Debt

		Installment Sales Purchases and Lease Obligations
		--Enterprise	$0	0	0	0	0	0
		--General Government	0	0	0	0	0	0
		Total*	$0	0	0	0	0	0
		* 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		1,412	1,419	1,429	1,432	1,428	1,439

1A	Non GASB34	General Fund Assets						839,023
1B	FISCAL	General Fund Liabilities						355,110
2A	SUMMARY	Debt-service Assets
2B		Debt service Liabilities
3A		Enterprise Assets						8,701,547
3B		Enterprise Liabilities						1,565,713
4A		Internal Service Assets
4B		Internal service Liabilities
5A		Special Revenue Assets						101
1.5A	GASB34	Governmental Activities Assets	1,693,596	1,734,974	1,467,679	1,350,279	1,574,434
1.5B	FISCAL	Governmental Activities Liabilities	414,665	424,193	452,946	239,576	317,667
3.5A	SUMMARY	Business Type Activities Assets	9,337,772	8,036,793	7,914,537	8,510,305	8,953,341
3.5B		Business Type Activities Liabilties	1,138,544	1,237,756	1,163,588	1,611,995	1,752,879
6.5A		Fiduciary Funds Assets
6.5B		Fiduciary Funds Liabilties
5B		Special Revenue Liabilities						473
6A		Trust & Agency Assets
6B		Trust & Agency Liabilities
7A		Capital Project Assets
7B		Capital Project Liabilities
8A		General Fixed Assets						2,493,720
9B		General Long term debt - Liabilities						79,479
10	PART 2	Current collections of unit-wide levy	295,096	287,673	252,467	307,135	227,128	196,270
11	TAX	Current collection of special tax districts	69,466	63,115	61,991
12	REVENUES	Prior years' levy collections	14,963	15,693	48,708			4,731
13		Penalties and interest	4,299	3,858	4,073	4,994	1,737	3,023
14		Collection of taxes previously written off
15		Animal tax
16		1% Local government sales and use tax	54,855	53,005	46,728	125,183	122,053	103,205
17		1/2% Local government sales and use taxes (Article 40)	34,876	27,635	33,546
18		1/2% Local government sales and use taxes (Article 42)	34,639	35,587	28,119
18.5		1/2% Local government sales and use taxes (Article 44)	27,185	35,813	58,744
19		Licenses Privilege					840	790
19.1		Privilege - Occupational & business licensing & permit taxes		240	440	744
19.2		Privilege -- All other privileges and pemits	45
20		General Municipal Vehicle Tax
21		Vehicle Tax for Public Transportation
22		Other licenses - Include CATV	1,013			8,687	7,556	7,674
23		Local occupancy tax
24		Prepared food tax
25		911 charges
26		Gross Receipts Tax on Short Term Vehicles Leases
27	FEDERAL	FEDERAL Payment in lieu of taxes
28	INTERGOV	Equitable sharing of Federally forfeited property
29	REVENUES	General government					305,791
30		Public safety			134,209
31		Transportation - Streets
32		Transportation - All other
33		Utility franchise tax					52,423
34		Housing/community development
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
41	REVENUES	Intangibles tax reimbursement + Transistional Hold Harmless Revenues	7,821	12,963	15,081	15,902	15,902
42		Wireless Enhanced 911 Service Charges
43		Piped Natural Gas Charge Distribution
44		Utility franchise tax	67,218	58,612	51,737	49,172	48,654	32,357
45		Beer and Wine tax	6,536	6,457	6,325	6,321	6,180	6,126
46		Powell Bill	56,944	51,371	52,516	52,860	48,545	53,635
47		Food stamp purchases tax reimbursement
48		Inventories tax reimbursements
49		Senior Citizens Exemption - 50%
50		Court fees - Facilities and arrest fees	4,519			390	255	500
51		General Government
52		Public safety		25,388	19,076
53		Transportation - Streets						18,892
54		Transportation - All other
55		Environmental protection				941,673	391,555	1,011,637
56		Econ. & Phys. Dev. - Housing/Comm. Dev.		282,633		168,920	229,422
57		Econ. & Phys. Dev. - All Other	1,344,820		36,644
58		Human Services: Health, mental health, hospitals
59		All Other
60		Culture and recreation
61	LOCAL	LOCAL Payment in lieu of taxes
62	INTERGOV	General government
63	REVENUES	Public safety	13,848		3,180	68,400	62,724	53,245
64		Transportatin - Streets
65		Transportation - All other
66		Environmental protection
67		Economic and physical development
68		Human Services: Health, Mental Health & Hosp
69		Human Services: All Other
70		Culture and recreation						3,000
71	PERMITS	Building permits
72	& FEES	Inspection fees	240	80	1,760
72.1		Amusements licensing and permit taxes
73		Other permits
74	SALES &	Parking revenues
75	SERVICES	Rents and royalties	500	1,750			3,600
76		Airport
77		Fire protection charges
78		Solid waste	104,054	110,636	109,565	110,962	110,364	103,933
79		Ambulance and rescue squad charges
80		Cemeteries	4,850	7,550	7,000	9,600	8,000	8,200
81		Recreation service revenues
82		Library service revenues
83		Other cultural and recreational service revenues
84		Mass transit - city operated
85		Other sales and services		23,534	10,321	147
86	UTILITY	Water and sewer charges	841,149	868,647	807,944	786,669	716,127	568,733
87	REVENUES	Electric charges	1,499,156	1,426,300	1,424,955	1,271,574	1,292,328	1,255,917
88		Gas charges
88.1		Storm Water Fees
89	MISC.	On bond proceeds
90	REVENUES	On general and all other funds	37,605	47,457	38,222	14,374	7,951	14,597
91		Special assessments
92		Private contribution and donations
93		Sales of materials and fixed assets				2,300		8,442
94		Sales of real property
95		Nongovernment contributions for streets and traffic signals
96		Mixed drink surcharge
97		ABC profit distribution	5,532	6,057	1,397	993	2,991	2,337
98		Other miscellaneous revenues	19,267	57,753	62,823	21,489	147,434	120,436
99		Proceeds of the sale of bonds and notes
100		Proceeds of capital leases and installment purchases
101		Other		4,613				233,106
102	NON-REV	Supplemental schools taxes - current levy collections			252,467
103	RECEIPTS	Prior years' levy collections			8,507
104		Tax collections for units other than reporting unit
105		Utilities customers' deposits	3,937		-3,146		396	-1,590
106		Deposits other than utility
107		Prepaid taxes
108		Prepaid privilege licenses
109A	PART 4	Governing body - Salaries	85,638	91,017	81,062	13,753	13,200	13,200
109B	GENERAL	Governing body - All other Direct	139,328	154,857	108,575
109C	GOVT	Governing body - Construction
109D		Governing body - Land, Equipment and Existing Structures			111,694
110A		Administration - Salaries				74,575	71,940	89,402
110B		Administration - All other Direct				109,759	73,786	104,083
110C		Administration - Construction
110D		Administration - Land, Equipment and Existing Structures				1,610
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					315,199	31,368
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
118C		General Government All Other - Construction
118D		General Government All Other - Land, Equipment, and Existing Structures
119A	PUBLIC	Police and Communications - Salaries	202,055	167,019	141,558	153,356	168,720	160,104
119B	SAFETY	Police and Communications - All other Direct	55,378	40,217	28,139	22,159	21,837	18,961
119C		Police and Communications - Construction
119D		Police and Communications - Land, Equipment and Existing Structures	17,843	11,173	47,293		7,609	10,269
120A		Emergency Communications - Salaries
120B		Emergency Communications - All other Direct
120C		Emergency Communications - Construction
120D		Emergency Communications - Land, Equipment and Existing Structures
121A		Emergency Management - Salaries
121B		Emergency Management - All other Direct
121C		Emergency Managment - Construction
121D		Emergency Management - Land, Equipment, and Existing Structures
122A		Fire - Salaries	10,923	11,819	11,320	9,079	7,069	10,676
122B		Fire - All other Direct	39,600	60,414	48,880	35,402	51,729	36,641
122C		Fire - Construction
122D		Fire - Land, Equipment, and Existing Structures		15,679	352,499	24,296	31,613	31,613
123A		Inspectors - Salaries
123B		Inspectors - All other Direct
123C		Inspectors - Construction
123D		Inspectors - Land, Equipment, and Existing Structures
124A		Rescue Units - Salaries
124B		Rescue Units - All other Direct
124C		Rescue Units - Construction
124D		Rescue Units - Land, Equipment, and Existing Structures
125A		Animal Control - Salaries
125B		Animal Control - All other Direct
125C		Animal Control - Construction
125D		Animal Control - Land, Equipment, and Existing Structures
126A		Public Safety All Other - Salaries
126B		Public Safety All Other - All other Direct
126C		Public Safety All Other - Construction
126D		Public Safety All Other - Land, Equipment, and Existing Structures
127A	TRANSPOR	Traffic Engineering - Salaries
127B	TATION	Traffic Engineering - All other Direct
127C		Traffic Engineering - Construction
127D		Traffic Engineering - Land, Equipment, and Existing Structures
128A		Streets and Highways - Salaries	35,037	45,401	40,830	39,872	39,701	49,765
128B		Streets and Highways - All other Direct	38,758	35,319	36,945	35,531	37,696	38,605
128C		Streets and Highways - Construction
128D		Streets and Highways - Land, Equipment and Existing Structures		4,380				7,500
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	53,357	41,542	40,343	37,983	36,691	26,753
130B		State Street Aid Allocation - Powell Bill - All other Direct	611	2,206	11,594	107,045	8,158	3,243
130C		State Street Aid Allocation - Powell Bill - Construction
130D		State Street Aid Allocation - Powell Bill - Land, Equipment, and Existing Structures		10,220
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	71,645	49,874	38,450	37,466	75,517	72,200
136B	MENTAL	Solid Waste - All other Direct	43,370	22,207	42,079	23,139	29,978	28,333
136C	PROTECTION	Solid Waste - Construction
136D		Solid Waste - Land, Equipment, and Existing Structures	27,027			17,682
137A		Drainage and Watershed - Salaries
137B		Drainage and Watershed - All other Direct
137C		Drainage and Watershed - Construction
137D		Drainage and Watershed - Land, Equipment, and Existing Structures
138A		Cemeteries - Salaries
138B		Cemeteries - All other Direct	10,027	9,039	10,989	8,197	6,206	8,300
138C		Cemeteries - Construction
138D		Cemeteries - Land, Equipment, and Existing Structures						38,000
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
140B	& PHYSICAL	Planning and Zoning - All other Direct
140C	DEVELOP	Planning and Zoning - Construction
140D		Planning and Zoning - Land, Equipment, and Existing Structures
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				168,920	229,422	372
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
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]
145B		Economic and Physical Development - All Other - All other Direct
145C		Economic and Physical Development - All Other - Construction
145D		Economic and Physical Development - All Other - Land, Equipment, and Existing Structures
146A	HUMAN	Health - Salaries
146B	SERVICES	Health - All other Direct
146C		Health - Construction
146D		Health - Land, Equipment, and Existing Structures
147A		Mental Health - Salaries
147B		Mental Health - All other Direct
147C		Mental Health - Construction
147D		Mental Health - Land, Equipment, and Existing Structures
148A		Social Services - Salaries
148B		Social Services - All other Direct
148C		Social Services - Construction
148D		Social Services - Land, Equipment, and Existing Structures
149B		Subsidies Paid: Hospitals - City Owned - All other Direct
150B		Subsidies Paid: Hospitals - Private Owned - All other Direct
151A		Other Human Services: Legal Aid - Salaries
151B		Other Human Services: Legal Aid - All other Direct
151C		Other Human Services: Legal Aid - Construction
151D		Other Human Services: Legal Aid - Land, Equipment, and Existing Structures
152A		Human Services - All Other - Salaries
152B		Human Services - All Other - All other Direct
152C		Human Services - All Other - Construction
152D		Human Services - All Other - Land, Equipment, and Existing Structures
153A	CULTURE	Recreation and Parks - Salaries
153B	RECREATION	Recreation and Parks - All other Direct	20,991	12,832	17,506	13,911	13,486	16,724
153C		Recreation and Parks - Construction
153D		Recreation and Parks - Land, Equipment, and Existing Structures		16,010
154A		Coliseum - Salaries
154B		Coliseum - All other Direct
154C		Coliseum - Construction
154D		Coliseum - Land, Equipment, and Existing Structures
155A		Museums - Salaries
155B		Museums - All other Direct
155C		Museums - Construction
155D		Museums - Land, Equipment, and Existing Structures
156A		Libraries - Salaries
156B		Libraries - All other Direct
156C		Libraries - Construction
156D		Libraries - Land, Equipment, and Existing Structures
157A		Culture and Recreation - All Other - Salaries
157B		Human Services - All Other - All other Direct
157C		Human Services - All Other - Construction
157D		Human Services - All Other - Land, Equipment, and Existing Structures
158A	UTILITY	Water and Sewer - Salaries	190,484	204,861	196,684	189,073	240,393	260,087
158B		Water and Sewer - All other Direct	437,222	902,562	497,024	526,664	737,626	273,427
158C		Water and Sewer - Construction		302,915		899,278	457,008	1,353,194
158D		Water and Sewer - Land, Equipment, and Existing Structures	1,386,335		1,880			17,057
159A		Electric Power - Salaries	199,856	116,721	142,317	138,206	115,882	116,478
159B		Electric Power - All other Direct	1,303,450	1,274,474	1,241,572	1,082,023	1,088,824	982,850
159C		Electric Power - Construction
159D		Electric Power - Land, Equipment, and Existing Structures			4,019			19,407
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	57,675		100,716	49,490	42,833	43,553
161D	SERVICE	Water and Sewer - Debt Service Principal Payments				17,232
162B		Electric - Debt Service Interest Payments
162D		Electric - Debt Service Principal Payments
163B		Gas - Debt Service Interest Payments
163D		Gas - Debt Service Principal Payments
164B		School - Debt Service Interest Payments
164D		School - Debt Service Principal Payments
165B		Hospital - Debt Service Interest Payments
165D		Hospital - Debt Service Principal Payments
166B		All Other - Debt Service Interest Payments	28,732	58,223	15,636	2,121	1,711
166D		All Other - Debt Service Principal Payments		32,953		7,100
167B	PENSION	Direct Benefit Program - Pension Fund operated by the Unit
168B	FRINGE	Fringe Benefits Unallocated - (B)
169B		Separation Allowance - Law Enforcement Officers -(B)
170B		Separation Allowance - Other Employees - (B)
171B		Supplemental Retirement Income Plan for Law Enforcement Officers - (B)	4,612	3,679	4,344	10,993	5,841	5,498
172B		Fringe Benefits Other - (B)				28,847	24,809	35,587
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	273,718	271,894	268,094	253,788	215,772	178,170
180	OTHER	Current Year Levy Motor Vehicles Only	43,255	39,986	47,477	53,730	37,483	48,922
181	DATA	Uncollected Taxes - Current Year's Levy - Excluding Motor Vehicles	12,806	14,962	14,435	13,134	14,410	6,306
182		Uncollected Taxes - Current Year's Levy - Motor Vehicles	9,071	9,245	11,735	10,775	10,963	12,183
183		Percentage of Taxes Collected - Current Year All Property	93.1	92.24	91.71	92.23	89.98	91.86
184		Percentage of Taxes Collected - Current Year - Excluding Motor Vehicles	95.32	94.50	94.62	94.82	93.32	96.46
185		Percentage of Taxes Collected - Current Year - Motor Vehicles	79.03	76.88	75.28	79.95	70.75	75.10
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	710,431	818,000	891,499	956,864	921,056	1,030,250
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	4,550,496	3,728,038	3,317,571	4,073,811	3,884,104	3,887,339
194B	FISCAL	Amounts - Subtract proceeds of refunding debt
194C	SUMMARY	Amounts - Subtract interfund transfers in		213,618		105,322	74,544	76,553
194D		Amounts - Net Revenues per AFIR	4,550,496	3,514,420	3,317,571	3,968,489	3,809,560	3,810,786
		Calculated amount	4,550,496	3,514,420	3,317,571	3,968,489	3,809,560	3,810,786
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference
195A		Amounts - Total Expenditures and other financing sources per audit	4,459,954	3,911,231	3,373,948	3,990,084	4,029,028	3,979,803
195B		Amounts - Subtract payments to refunding debt escrow agent
195C		Amounts - Subtract interfund transfers out		213,618		105,322	74,544	76,553
195D		Amounts Net Expenditures per AFIR	4,459,954	3,697,613	3,373,948	3,884,762	3,954,484	3,903,250
		Calculated amount	4,459,954	3,697,613	3,373,948	3,884,762	3,954,484	3,903,250
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference

	PART 10

950		Name of Official Signatory	Karen L. Peeden
951		Title of Official	Finance Officer
952		Date Certified	02/12/2009	11/05/2007	10/31/2006
953		Person to Contact	Karen L. Peeden
954		Title of Person to Contact	Finance Officer
955		Telephone Number	(919)242-5151ext202
956		Facsimile Number	(919)242-7212

Go to top of page Key Ratios and Operations Statistics of Water and Sewer Systems for
Town of Fremont

	2008	2007	2006	2005	2004	2003

Population	1,412	1,419	1,429	1,432	1,428	1,439
Population Group	Electric 2,499 and Below	Electric 2,499 and Below	Electric 2,499 and Below	Electric 2,499 and Below	Electric 2,499 and Below	Electric 2,499 and Below
Total Operating Revenues	$841,149	902,210	807,944	789,819	716,127	576,995
Total Operating Revenues Per Capita	$596	636	565	552	501	401
Group Weighted Average Revenues Per Capita	433	385	416	378	343	356
State Weighted Average Revenues Per Capita	364	367	356	331	308	295

% to Total Operating Revenues
Operating Expenses	100.80%	147.42%	98.89%	111.26%	164.00%	160.23%
Group Weighted Average	114.60%	120.44%	109.92%	116.86%	125.08%	114.76%
State Weighted Average	86.74%	82.44%	81.55%	85.60%	89.13%	90.84%

Operating Margin	-0.80%	-47.42%	1.11%	-11.26%	-64.00%	-60.23%
Group Weighted Average	-14.60%	-20.44%	-9.92%	-16.86%	-25.08%	-14.76%
State Weighted Average	13.26%	17.56%	18.45%	14.40%	10.87%	9.16%

Operating Transfers In/(out)	-6.86%	31.86%	-1.77%	-7.17%	-5.98%	-7.55%
Group Weighted Average	-0.89%	7.07%	11.47%	30.72%	14.30%	-2.56%
State Weighted Average	3.96%	-0.78%	-0.58%	-0.79%	-1.21%	-0.99%

Net Income before capital contributions	-7.51%	3.41%	-5.93%	-18.38%	-70.42%	-68.24%
Group Weighted Average	-12.07%	-12.33%	0.88%	16.05%	-9.95%	-15.21%
State Weighted Average	13.45%	11.89%	9.65%	8.63%	2.88%	0.31%

Key Ratios and Cash Flow

Quick Ratio	0.69	0.54	0.36	0.26	0.24	0.47
Group Weighted Average	3.59	4.40	2.98	5.45	3.77	4.44
State Weighted Average	2.95	2.90	2.82	1.81	2.76	3.04

Days Sales in Receivables	130.7	139.3	95.1	70.9	96.5	63.4
Group Weighted Average	74.2	60.0	54.0	54.0	49.9	47.3
State Weighted Average	55.3	59.9	57.8	59.9	65.7	60.0

Days Cash on Hand	13.7	7.4	11.8	9.5	0.0	78.3
Group Weighted Average	279.0	280.5	386.6	508.6	341.9	371.9
State Weighted Average	457.8	497.5	458.0	423.5	407.9	414.8

Cash flow from Operations	$25,818	-241,241	-87,520	138,522	-303,941	-138,375

Debt to Equity	0.11	0.14	0.15	0.16	0.16	0.16
Group Weighted Average	0.30	0.19	0.22	0.24	0.18	0.18
State Weighted Average	0.56	0.55	0.52	0.52	0.52	0.50

Debt per Capita	585	594	617	642	643	663
Group Weighted Average	940	509	499	495	506	454
State Weighted Average	1,136	1,091	989	929	855	852

Capital Expenditures:	2008	2007	2006	2005	2004	2003
	$1,386,335	302,915	1,880	899,278	457,008	1,370,251

	2002	2001	2000	1999
	$4,645,285	9,511	257,034	11,924

Capital Contributions: Excluded from income above	$1,344,820	282,633	136,188	0	0	1,303,370


Operating Statistics

Estimated population of the areas served Water	0	806	NA	NA	NA	NA
Estimated population of the areas served Sewer	0	674	NA	NA	NA	NA

Number of Gallons of Water Processed (000) omitted	39,746	39,752	NA	NA	NA	NA
Number of Gallons of Sewage Processed (000) omitted	47,327	65,182	NA	NA	NA	NA

Number of Gallons of Water Billed (000) omitted	30,528	39,752	NA	NA	NA	NA
Number of Gallons of Sewage Billed (000) omitted	40,148	65,182	NA	NA	NA	NA

Ratio of Water Billed to Water Processed	0.76808	1.00000	NA	NA	NA	NA
Ratio of Sewage Billed to Sewage Processed	0.84831	1.00000	NA	NA	NA	NA

Total Revenue from Water Sales	209,181	257,353	NA	NA	NA	NA
Total Revenue from Sewage Sales	445,231	597,966	NA	NA	NA	NA

Water Revenue per 1000 gallons of Sales		319.29653	NA	NA	NA	NA
Sewage Revenue per 1000 gallons of Sales		887.18991	NA	NA	NA	NA

Group Average Sales per thousand Gallons Water	$9.21753	$4,470.42307	NA	NA	NA	NA
Group Average Sales per thousand Gallons Sewage	$25.29767	$2,448.46180	NA	NA	NA	NA

State Average Sales per thousand Gallons Water	$9.21753	$4,470.42307	NA	NA	NA	NA
State Average Sales per thousand Gallons Sewage	$25.29767	$2,448.46180	NA	NA	NA	NA

Residential Water Sales per thousand Gallons	$6.85210	0.63220	NA	NA	NA	NA
Residential Sewage Sales per thousand Gallons	$11.08974	13.09263	NA	NA	NA	NA

Water Sales per thousand Gallons outside Municipal Limits		8.20671	NA	NA	NA	NA
Sewage Sales per thousand Gallons outside Municipal Limits		6.13077	NA	NA	NA	NA

Total Water Sales per thousand gallons for Redistribution	$0.00000	257,353.00000	NA	NA	NA	NA
Total Sewage Sales per thousand gallons for Redistribution	$0.00000	0.00000	NA	NA	NA	NA

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

	2008	2007	2006	2005	2004	2003

Population	1,412	1,419	1,429	1,432	1,428	1,439
Power Agency Group	N.C. Easterrn Municipal Power Agency
Total Operating Revenues	$1,491,628	1,428,100	1,424,955	1,271,574	1,292,328	1,275,070
Group Weighted Average	23,671,347	22,937,381	21,737,041	19,645,818	19,658,475	19,102,654

% to Total Operating Revenues
Power Purchases	80.2%	80.8%	80.3%	86.8%	77.6%	69.5%
Group Weighted Average	80.0%	81.0%	81.5%	80.3%	79.6%	79.5%

Other Operating Expenses	21.3%	17.9%	18.1%	19.3%	18.8%	19.2%
Group Weighted Average	16.7%	15.9%	16.3%	17.5%	16.8%	16.5%

Operating Margin	-1.5%	1.3%	1.6%	-6.1%	3.6%	11.2%
Group Weighted Average	3.3%	3.1%	2.1%	2.2%	3.6%	4.0%

Operating Transfers In/(out)	-2.7%	-21.0%	-2.7%	-3.0%	-2.3%	-2.6%
Group Weighted Average In/(out)	-1.9%	-2.4%	-1.7%	-2.4%	-2.3%	-2.0%

Net Income	-3.4%	-18.4%	0.1%	-8.7%	1.4%	9.0%
Group Weighted Average	1.9%	1.3%	0.7%	0.4%	1.7%	2.4%

Key Ratios and Cash Flow

Quick Ratio	4.5	6.5	8.0	7.8	32.7	30.7
Group Weighted Average	2.6	25.0	2.9	3.2	3.5	3.4

Coverage Ratio	1.01	0.82	1.05	0.95	1.09	1.20
Group Weighted Average	1.08	1.07	1.06	1.05	1.08	1.09

Days Sales in Receivables	67.6	60.7	56.7	56.3	60.4	52.6
Group Weighted Average	42.6	41.6	42.3	43.7	44.9	42.0

Days Cash on Hand	32.7	68.1	209.9	220.6	241.2	256.6
Group Weighted Average	68.8	62.7	72.7	87.9	90.0	91.3

Cash flow from Operations	-$4,841	319,757	17,341	38,058	50,226	57,056

Capital Expenditures:	$0	0	4,019	0	0	19,407


	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	4.69%	4.40%	3.75%	4.90%	3.01%	5.09%

	2002	2001	2000	1999	1998
	#VALUE!	#VALUE!	143.00%	7.42%	7.17%

Gross Electric Fund Assets as Cost	$1,167,914	1,167,914	1,030,646	1,163,896	1,163,895	1,163,895
Estimated Tax Loss from Municipal Ownership of Utility	$7,591	$7,591	6,699	7,565	6,401	6,401
Tax Rate Equivalent	0.0156	0.0158	0.0141	0.0159	0.0132	0.0169

Operating Transfers to the General Fund as a % of Gross Fixed Assets	3.42%	3.31%	3.75%	3.32%	2.58%	2.84%

Operating Transfers to the General Fund as a Tax Rate Equivalent	0.0822	0.0801	0.0811	0.0812	0.0617	0.0870

Tax Rate Adjusted for Assessed to Sales Ratio	0.5717	0.5904	0.6144	0.6384	0.5493	0.4098

Tax Rate Adjusted Excluding Transfers	0.6539	0.6705	0.6955	0.7196	0.6110	0.4967

Weighted Average Group Rate Adjusted	0.4301	0.3821	0.4060	0.4252	0.4080	0.4023

Weighted Average Non Electric Adjusted Rate	0.2543	0.2737	0.2826	0.2870	0.2954	0.2988

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 %	27.98%	37.45%	35.92%	56.55%	59.06%
Group average FBA %	62.49%	74.93%	74.69%	82.79%	83.14%
State average Electric/Non Electric Group FBA %	36.12%	36.30%	35.69%	34.02%	35.36%
State average FBA %	36.35%	36.76%	62.49%	36.37%	36.20%

Municipal Population Group: Electric 1,000 to 2,499

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2004 2005 2006 2007 2008

Municipality 89.98% 92.23% 91.71% 92.24% 93.10%

Pop. Group 91.33% 92.77% 93.37% 93.09% 94.62%

Statewide 97.31% 97.42% 97.55% 97.59% 97.97%

Municipal Population Group: Electric 1,000 to 2,499

	2004	2005	2006	2007	2008
Municipality	89.98%	92.23%	91.71%	92.24%	93.10%
Pop. Group	91.33%	92.77%	93.37%	93.09%	94.62%
Statewide	97.31%	97.42%	97.55%	97.59%	97.97%

Municipal Population Group: Electric 1,000 to 2,499

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2004 2005 2006 2007 2008

Municipality 624 612 602 594 585

Pop. Group 297 306 297 294 274

Statewide 548 505 495 478 456

Municipal Population Group: 1,000 to 2,499

	2004	2005	2006	2007	2008
Municipality	624	612	602	594	585
Pop. Group	297	306	297	294	274
Statewide	548	505	495	478	456

Municipal Population Group: 1,000 to 2,499

Go to top of page

2004 2005 2006 2007 2008

Property Tax $160 218 214 217 223

Utility 1,406 1,437 1,563 1,617 1,657

Sales Tax 87 88 116 108 108

Sales & Services 85 84 89 101 77

Intergovernmental 813 910 223 308 1,064

Debt Proceeds 0 0 0 0 0

Other Miscellaneous 117 34 117 126 94

Total $2,668 2,771 2,322 2,477 3,223

	2004	2005	2006	2007	2008
Property Tax	$160	218	214	217	223
Utility	1,406	1,437	1,563	1,617	1,657
Sales Tax	87	88	116	108	108
Sales & Services	85	84	89	101	77
Intergovernmental	813	910	223	308	1,064
Debt Proceeds	0	0	0	0	0
Other Miscellaneous	117	34	117	126	94
Total	$2,668	2,771	2,322	2,477	3,223

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2008
2008

Category Revenue
Per Capita

Property Tax $314,358
$223

Water/Sewer 841,149
596

Electric 1,499,156
1,062

Other Utilities 0
0

Sales Tax 151,555
108

Sales & Services 109,404
77

Intergovernment 1,501,706
1,064

Debt Proceeds 0
0

Miscellaneous 133,168
94

Total $4,550,496
$3,223

Municipal Population Group: Electric 1,000 to 2,499

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2008
2008

Category Expenditures
Per Capita

General Government $224,966
$160

Water/Sewer 2,014,041
1,426

Electric 1,503,306
1,065

Other Utilities 0
0

Debt Service 86,407
61

Transportation 127,763
90

Public Safety 330,411
234

Other 173,060
123

Total $4,459,954
$3,159

Municipal Population Group: Electric 1,000 to 2,499

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2008
2008

Category Expenditures
Per Capita

Salaries & Wages $848,995
$601

Water/Sewer Capital 1,386,335
982

Electric Capital 0
0

Other Capital 44,870
32

Other Operating 2,179,754
1,544

Total $4,459,954
$3,159

Municipal Population Group: Electric 1,000 to 2,499

Last Updated 8/27/2009 7:17:38 AM



	2008	2008
Category	Revenue	Per Capita
Property Tax	$314,358	$223
Water/Sewer	841,149	596
Electric	1,499,156	1,062
Other Utilities	0	0
Sales Tax	151,555	108
Sales & Services	109,404	77
Intergovernment	1,501,706	1,064
Debt Proceeds	0	0
Miscellaneous	133,168	94
Total	$4,550,496	$3,223

Municipal Population Group: Electric 1,000 to 2,499

North CarolinaDepartment of State TreasurerFinancial InformationTown of Fremont

Financial Graphs and Comparisons

North Carolina
Department of State Treasurer
Financial Information
Town of Fremont