North Carolina
Department of State Treasurer
Financial Information
Town of Morehead City

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

Institute of Government North Carolina Cities Web Site

Go to North Carolina County and Municipal Financial Information Home Page
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The AFIR report that was due 10/31/2011 has not been received as of 02/04/2012

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			2011	2010	2009	2008	2007	2006
	Revenues by Source
		Property Tax	$0	5,085,346	5,102,815	4,850,736	4,155,006	3,997,976
		Utility	-	4,625,111	4,204,534	4,087,918	3,826,290	3,403,481
		Sales Tax	-	1,485,898	1,522,413	1,722,987	1,779,655	1,586,576
		Sales & Services	-	1,539,659	1,521,593	1,347,866	1,263,597	1,253,698
		Intergovernmental	-	4,061,247	2,723,049	2,686,719	2,211,328	2,229,764
		Debt Proceeds	-	1,161,767	3,213,563	8,890,850	2,807,869	58,439
		Other Miscellaneous	-	6,762,082	2,777,980	1,889,051	3,840,650	3,030,577
		Total	$0	24,721,110	21,065,947	25,476,127	19,884,395	15,560,511

	Expenditures by Function
		Utility	$0	4,649,539	8,306,582	12,968,447	7,729,449	2,804,352
		Debt Service	-	3,291,943	1,708,761	1,306,511	1,423,212	2,100,885
		Transportation	-	740,768	1,123,799	1,409,093	1,653,971	1,342,622
		General Government	-	3,453,851	1,321,151	1,474,231	2,328,314	1,106,868
		Public Safety	-	9,962,250	5,931,296	5,964,504	5,794,986	4,685,767
		Other	-	2,345,278	3,420,409	3,057,188	2,452,989	1,596,284
		Total	$0	24,443,629	21,811,998	26,179,974	21,382,921	13,636,778

	Expenditures by Object
		Salaries & Wages	$0	5,601,980	5,594,526	5,473,890	4,890,067	4,377,667
		Capital Outlay	-	9,445,422	8,511,173	13,030,583	9,538,998	1,988,462
		Other Operating + Debt Service	-	9,396,227	7,706,299	7,675,501	6,953,856	7,270,649
		Total	$0	24,443,629	21,811,998	26,179,974	21,382,921	13,636,778


	Per Capita Revenues by Source
		Property Tax	$0	576	582	558	495	487
		Utility	-	524	480	470	456	415
		Sales Tax	-	168	173	199	211	193
		Sales & Services	-	174	174	155	151	153
		Intergovernmental	-	460	311	309	264	272
		Debt Proceeds	-	132	367	1,023	335	7
		Other Miscellaneous	-	766	317	217	458	369
		Total	$0	2,800	2,404	2,931	2,370	1,896

	Per Capita Expenditures by Function
		Utility	$0	527	948	1,492	921	342
		Debt Service	-	373	195	150	170	256
		Transportation	-	84	128	162	197	164
		General Government	-	390	151	170	278	134
		Public Safety	-	1,128	677	686	691	571
		Other	-	266	390	352	292	194
		Total	$0	2,768	2,489	3,012	2,549	1,661

	Per Capita Expenditures by Object
		Salaries & Wages	$0	634	638	630	583	533
		Capital Outlay	-	1,070	971	1,499	1,137	242
		Other Operating	-	1,064	880	883	829	886
		Total	$0	2,768	2,489	3,012	2,549	1,661

	Population Group		No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999
		Number of Municipalites in Group	119	122	120	120	124	123
		Average Population In Group	4,793	4,664	4,697	4,793	4,727	4,663
		Town of Morehead City Population	8,693	8,830	8,763	8,691	8,390	8,209
	Group Average Per Capita Revenues by Source
		Property Tax	352	342	346	336	310	306
		Utility	539	323	315	313	317	332
		Sales Tax	125	125	144	160	159	152
		Sales & Services	144	85	82	78	76	71
		Intergovernmental	251	198	179	175	172	159
		Debt Proceeds	107	53	152	111	24	28
		Other Miscellaneous	144	120	157	179	229	189
		Total	1,662	1,246	1,375	1,352	1,287	1,237

	Group Average Per Capita Expenditures by Function
		Utility	423	419	414	370	332	305
		Debt Service	79	103	100	102	96	98
		Transportation	89	95	95	110	111	112
		General Government	167	179	185	169	159	156
		Public Safety	303	323	318	318	310	280
		Other	240	220	219	230	235	209
		Total	1,301	1,339	1,331	1,299	1,243	1,160

	Group Average Per Capita Expenditures by Object
		Salaries & Wages	450	431	429	414	405	390
		Capital Outlay	226	325	317	279	252	205
		Other Operating	624	583	585	606	584	564
		Total	1,300	1,339	1,331	1,299	1,241	1,159


General Fund Go to top of page			2011	2010	2009	2008	2007	2006
	General Fund revenues		$0	8,859,062	9,006,430	9,146,907	10,535,787	7,912,605
	General Fund expenditures		-	6,561,685	7,263,643	7,890,322	7,325,261	6,206,216
	Operating transfers in		-	25,594	56,078	-	-	-
	Operating transfers out		-	1,563,000	1,774,996	2,270,721	3,062,375	1,117,104
	Capital leases and installment purchase proceeds		-	-	-	-	-	42,579
	Other items		-	-	-	-	-	-
	Excess of revenues and other sources over (under) expenditures and other uses		-	759,971	23,869	(1,014,136)	148,151	631,864

	Fund balance available (FBA):
		In dollars	$0	4,164,033	3,477,836	3,181,016	4,237,216	4,430,270
		FBA as a % of GF Net Expenditures:
		Unit's FBA %	0.00	51.25	38.48	31.31	40.79	60.85
		Group weighted average FBA %	104.97	67.39	70.26	65.07	64.31	62.32
		State weighted average Non-Electric Group	26.68	38.71	37.89	36.66	37.39	37.38
		State weighted average FBA %	29.01	37.47	37.03	36.35	36.54	36.96


Enterprise Funds: Go to top of page
	Solid Waste, Water/Sewer

	Combined financial results:
		Working capital	$0	3,338,716	4,637,603	5,720,845	5,082,950	4,633,794
		Quick ratio	0.00	1.91	2.00	2.86	2.31	3.03
		Net income	0	937,932	1,306,049	1,542,012	3,216,532	1,538,429
		Cashflow from operations	0	1,722,907	1,974,350	271,781	1,990,564	1,864,556
		Depreciation & Amortization Expense	0	1,293,730	1,493,080	1,243,642	1,172,911	1,125,156



Cash, Investments and Financing Go to top of page			2011	2010	2009	2008	2007	2006

		Population at July 1st of the Previous Year	8,693	8,830	8,763	8,691	8,390	8,209
		Population Group	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999
		Cash &Investments	$0	$14,634,098	$13,803,304	$13,341,609	$14,675,180	$12,991,581
		Investment Earnings	0	98,328	270,475	584,609	765,014	494,434
		Tax Rate Equivalent	0.0000	0.0042	0.0116	0.0266	0.0693	0.0468
		Tax Rate Equivalent Group weighted average	0.0027	0.0055	0.0130	0.0294	0.0437	0.0322
		Tax Rate Equivalent Statewide weighted average	0.0156	0.0247	0.0133	0.0524	0.0920	0.0573
		Latest year of Revaluation	2007	2007	2007	2007	2001	2001
		January 1, Prior Year Assessed Valuation	$2,339,163,230	2,340,067,129	2,331,477,776	2,194,677,090	1,103,800,026	1,055,726,548
		Tax Rate	0.2200	0.2200	0.2200	0.2200	0.3800	0.3800
		Tax Rate Group weighted average	0.2778	0.2552	0.2697	0.2669	0.3116	0.3191
		Tax Rate State Wide	0.4122	0.4090	0.4262	0.4238	0.4450	0.4321
		Assessment -to-Sales Ratio	98.03	112.65	98.40	100.00	60.44	77.79
		Assessment -to-Sales Ratio Group weighted average	102.19	102.84	92.17	90.92	83.51	91.52
		Assessment -to-Sales Ratio Statewide	101.47	98.27	90.81	88.53	88.41	92.28
		Assessed Valuation Adjusted for Assesment to Sales Ratio	$2,386,170,795	2,077,289,950	2,369,387,984	2,194,677,090	1,826,274,034	1,357,149,438
		EffectiveTax Rate	0.2157	0.2478	0.2165	0.2200	0.2297	0.2956
		Group weighted average Effective Tax Rate	0.2838	0.2624	0.2486	0.2427	0.2602	0.2921
		Statewide weighted average Effective Tax Rate	0.4183	0.4020	0.3870	0.3752	0.3934	0.3987
		Percent Collected	0.0000	98.7900	99.0800	99.0700	98.8300	98.7300
		Percent Collected Group weighted average	96.58	95.40	95.41	95.81	96.70	96.72
		Percent Collected Statewide	97.59	97.36	97.34	97.56	97.58	97.55
		Percent Collected Excluding Motor Vehicles	0.00	99.11	99.41	99.49	99.71	99.68
		Percent Collected Excluding Motor Vehicles Group weighted average	97.33	97.43	97.55	98.06	97.99	98.08
		Percent Collected Excluding Motor Vehicles Statewide weighted average	98.35	98.23	98.30	98.65	98.59	98.61
		Percent Collected Motor Vehicles Only	0.00	86.81	87.63	88.38	84.93	83.81
		Percent Collected Motor Vehicles Only Group weighted average	85.29	85.60	85.23	85.75	86.04	86.22
		Percent Collected Motor Vehicles Only Statewide weighted average	87.28	86.34	86.55	86.74	86.71	86.80
		Tax Uncollected	0	176,962	171,503	210,666	260,674	253,328
		Tax Rate Equivalent	0.0000	0.0076	0.0074	0.0096	0.0236	0.0240
		Dominant County: Carteret
	Debt Information
		Population Group	5,000 to 9,999	5,000 to 9,999	5,000 to 9,999	5,000 to 9,999	5,000 to 9,999	5,000 to 9,999
		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	$0	0	0	0	0	0
		General Government GO Debt	0	0	0	0	0	0
		Total General Obligation Debt	0	0	0	0	0	0
		Per Capita	$0	0	0	0	0	0
		Total Per Capita for the Population Group	79	89	69	71	93	117
		Total Per Capita Statewide	450	449	455	456	478	495
		Total per Assessed Valuation Adjusted for Current Year Sales	0.0000%	0.0000%	0.0000%	0.0000%	0.0000%	0.0000%
		Total per Assessed Valuation Adjusted for Current Year Sales- Group Average	0.0680%	0.0786%	0.0531%	0.0577%	0.0861%	0.1199%
		Total per Assessed Valuation Adjusted for Current Year Sales - Statewide	0.4280%	0.4134%	0.3909%	0.4132%	0.4706%	0.5275%
		Total Authorized but not Issued General Obligation Debt

		Installment Sales Purchases and Lease Obligations
		--Enterprise	$2,599,171	3,241,147	3,907,012	2,791,196	3,292,240	3,772,896
		--General Government	1,780,000	6,930,000	1,007,777	1,314,193	1,614,259	2,010,877
		Total*	$4,379,171	10,171,147	4,914,789	4,105,389	4,906,499	5,783,773
		* The total only includes the contracts that require Local Government Commission approval.
		Revenue Bond Debt	$2,426,877	2,612,368	2,797,859	2,983,351	3,168,842	3,354,333


Annual Financial Information Report Detail Go to top of page
Line	Section	Description	2011	2010	2009	2008	2007	2006
	Population at July 1st of the Previous Year Adjusted for Boundry Changes		8,693	8,830	8,763	8,691	8,390	8,209

1.5A	FISCAL	Governmental Activities Assets		11,103,857	7,155,907	8,065,799	8,297,675	8,289,924
1.5B	SUMMARY	Governmental Activities Liabilities		3,652,943	1,386,717	1,620,615	1,732,566	1,293,076
3.5A		Business Type Activities Assets		52,628,169	53,595,337	47,843,042	39,100,737	31,905,855
3.5B		Business Type Activities Liabilties		21,323,048	23,228,148	18,781,902	11,581,609	7,603,259
6.5A		Fiduciary Funds Assets		176,030	95,447	61,310	36,954	18,254
6.5B		Fiduciary Funds Liabilties
10.0	PART 2	Current Collections of Unit -Wide Levy		5,035,272	5,032,860	4,793,935	4,088,256	3,963,874
11.0	TAX	Current Collections of Special Tax Districts
12.0	REVENUES	Prior Years' Levy Collections		22,468	34,384	35,122	37,617	28,006
13.0		Penalties and Interest		27,606	35,571	21,679	29,133	6,096
14.0		Collections of Taxes Previously Written Off
15.0		Animal Tax
15.1		Solid Waste Disposal Tax		5,972	4,045
16.0		1% Local Government Option Sales Tax		680,491	692,851	771,140	789,162	728,817
17.0		1/2% Local Government Option Sales Tax (40)		273,252	282,037	322,414	335,636	284,622
18.0		1/2% Local Government Option Sales Tax (42)		293,080	277,648	318,330	331,542	281,283
18.5		1/2% Local Government Option Sales Tax (44)		239,075	269,877	311,103	323,315	291,854
19.0		Privilege Licenses		72,712	73,394	70,030	65,939	67,193
19.2		Privilege -- All other privileges and pemits
20.0		Auto Licenses
21.0		Vehicle Tax for Public Transportation
22.0		Other Licenses		225	18,378	20,703	70,645	124,551
23.0		Local Occupancy Tax
24.0		Prepared Food Tax
25.0		911 Charges
26.0		Gross Short Term lease and Rental Tax		19,886	17,091	17,924	18,211	16,647
27.0	FEDERAL	Payments In Lieu of Taxes - Federal
28.0	INTERGOV	Equitable Sharing of Fed. Forfeited Prop.			9,919
29.0	REVENUES	General Government					6,846
30.0		Public Safety		190,223	210,795	151,615	153,432	317,922
31.0		Transportation - Streets
32.0		Transportation - All Other		77,312		13,340	28,211	49,481
33.0		Environmental Protection		455,229		20,182
34.0		Econ. & Phys. Dev. - Housing/Comm. Dev.
35.0		Econ. & Phys. Dev. - All Other		84,285
36.0		Human Services: Health, Mental Hlt & Hosp
37.0		Human Services: All Other
38.0		Culture & Recreation		142,400		107,600	100,000
39.0	STATE	Payments In Lieu of Taxes - State		55,030	55,030	55,030	50,387	50,387
40.0	INTERGOV	Unauthorized Substance Tax		11,304	4,454	14,122	4,985	1,629
41.0	REVENUES	Transitional Hold Harmless
42.0		Wireless Enhanced 911 Service Charges
42.1		Emergency Telephone Services Fund (ETSF) Revenues (Do not include interest)
42.2		ETSF Interest Income
43.0		Piped Natural Gas Charge Distribution		17,164	14,777	12,611	12,247	10,358
44.0		Utility Franchise Tax		736,376	742,341	646,164	602,301	551,110
45.0		Beer and Wine Tax		12,498	39,031	38,648	37,094	35,742
46.0		Powell Bill		246,606	273,861	299,699	260,135	261,741
50.0		Court Fees - Facilities and Arrest Fees		4,209	4,360	5,789	6,788	7,856
51.0		General Government
52.0		Public Safety						46,293
53.0		Transportation - Streets
54.0		Transportation - All Other					50,000
55.0		Environmental Protection		21,611	134,614	27,719	42,359	244,693
56.0		Econ. & Phys. Dev. - Housing/Community Dev				10,500
57.0		Econ. & Phys. Dev. - All Other				27,604
58.0		Human Services -Health, Mental Health, Hosp
59.0		Human Services - All Other		43,821	37,207	50,557	43,609	42,052
60.0		Culture and Recreation		513,400	253,278	335,969	153,299
61.0	LOCAL	Payments in Lieu of Taxes - Local		14,450	14,860	16,925	17,816	21,484
62.0	INTERGOV	General Government
63.0	REVENUES	Public Safety		1,415,443	911,431	834,721	621,703	570,409
64.0		Transportation - Streets
65.0		Transportation - All Other
66.0		Environmental Protection					1,905	1,960
67.0		Economic and Physical Development
68.0		Human Services - Health, Mental Hlt & Hosp
69.0		Human Services - All Other
70.0		Culture and Recreation		153,075	155,000	155,000	55,000
71.0	PERMITS	Building Permits						281,220
72.0	& FEES	Inspection Fees		122,621	158,153	248,534	368,291
72.1		Amusements licensing and permit taxes
73.0		Other Permits
74.0	SALES &	Parking Revenues
75.0	SERVICES	Rents and Royalties		124,025	121,189	110,370	73,588	70,832
76.0		Airport
77.0		Fire Protection Charges
78.0		Solid Waste		821,547	809,444	755,822	746,916	729,258
79.0		Ambulance and Rescue Squad Charges		506,143	508,672	397,574	367,153	351,191
80.0		Cemeteries		19,930	13,422	14,405	9,500	25,932
81.0		Recreation Service Revenues		67,341	67,949	68,728	65,359	76,485
82.0		Library Service Revenues		673	917	967	1,081
83.0		Other Cultural and Rec Service Revenues
84.0		Mass Transit - City Operated
85.0		Other Sales and Services		16,145	15,341	32,047	26,814	27,596
86.0	UTILITY	Water and Sewer Charges		4,608,966	4,189,193	4,055,871	3,799,476	3,375,885
87.0	REVENUES	Electric Charges
88.0		Gas Charges
88.1		Storm Water Fees
89.0	MISC.	Investment Earnings - Bond Proceeds
90.0	REVENUES	Investment Earnings - All Other Funds		98,328	270,475	584,609	765,014	494,434
91.0		Special Assessments		132,314	222,807	184,422	640,033	379,706
92.0		Private Contributions and Donations		48,767	35,271	187,133	98,978	8,471
93.0		Sales of Materials and Fixed Assets		6,309	3,818	15,898	1,738,849	10,232
94.0		Sale of Real Property
95.0		Nongovt Contr For Streets & Traffic Signals
96.0		ABC Mixed Drink Surcharge					37,901	45,191
97.0		ABC Profit Distribution		77,731	90,684	92,722
98.0		Other Miscellaneous Revenues		119,891	172,048	176,990	64,944	58,439
99.0		Proceeds of Sale of Bonds and Notes		1,041,876	3,041,515	8,713,860	2,742,925
100.0		Proceeds of Capital Leases/Install Purchases		6,050,000	1,750,000	330,000		1,619,579
101.0		Other		360,017	194,156	913,409	1,420,351	332,055
102.0	NON-REV	School - Current Levy Collections
103.0	RECEIPTS	Prior Years' Levy Collections
104.0		Tax Collections for Other Units
105.0		Utilities Customer's Deposits		9,947	10,058	44,267	18,106	28,222
106.0		Deposits Other than Utility		-52,500	4,000	-45,125	125,099	4,319
107.0		Prepaid Taxes		-1,527	2,974	-2,035	-1,447	-11,060
108.0		Prepaid Privilege Licenses		-1,157	4,617	3,850	-277	-4,381
109A	PART 4	Governing Body - Salaries & Wages		13,520	14,576	12,557	14,867	13,833
109B	GENERAL	Governing Body - Other Direct		77,529	81,528	89,470	131,361	77,487
109C	GOVT	Governing Body - Construction
109D		Governing Body - Purchase of P,P&E					2,806
110A		Administration - Salaries & Wages		141,678	135,402	161,467	141,539	143,605
110B		Administration - Other Direct		45,610	45,181	52,785	53,243	55,791
110C		Administration - Construction
110D		Administration - Purchase of P,P&E
111A		Elections - Salaries & Wages
111B		Elections - Other Direct		2,746				757
111C		Elections - Construction
111D		Elections - Purchase of P,P&E
112A		Finance - Salaries & Wages		123,229	127,947	160,237	195,272	127,001
112B		Finance - Other Direct		64,682	68,538	100,578	94,155	67,368
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		67,384	83,611	124,354	51,511	40,859
114C		Legal - Construction
114D		Legal - Purchase of P,P&E
115A		Public Buildings - Salaries & Wages		115,974	120,593	122,764	113,108	101,894
115B		Public Buildings - Other Direct		181,530	195,305	142,909	145,570	130,241
115C		Public Buildings - Construction			41,020
115D		Public Buildings - Purchase of P,P&E				97,880	26,553
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		26,941	9,597	29,880	31,151	29,681
117B		Central Services - Other Direct		246,172	291,055	378,350	277,045	292,850
117C		Central Services - Construction
117D		Central Services - Purchase of P,P&E		2,346,856	106,798	1,000	1,050,133	25,501
118A		Gen. Govt. All Other - Salaries & Wages
118B		Gen. Govt. All Other - Other Direct
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		1,911,126	1,919,090	1,872,005	1,699,426	1,609,286
119B	SAFETY	Police & Comm - Traffic Control - Other Direct		912,543	846,447	832,115	787,191	747,280
119C		Police & Comm - Traffic Control - Construction		3,233,976
119D		Police & Comm - Traffic Control - Purchase of P,P&E		37,575	379,421	222,652	151,549	193,669
120A		Emergency Communications - Salaries & Wages
120B		Emergency Communications - Other Direct
120C		Emergency Communications - Construction
120D		Emergency Communications - Purchase of P,P&E
120B		Emergency Telephone Service Fund (ETSF) Expenditures - Operating
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		1,248,424	1,239,695	1,162,048	960,863	819,396
122B		Fire - Other Direct		897,095	891,079	895,704	771,960	666,833
122C		Fire - Construction
122D		Fire - Purchase of P,P&E		1,106,626	47,155	362,308	868,682	107,013
123A		Inspectors - Salaries & Wages		319,310	319,433	310,058	268,988	252,987
123B		Inspectors - Other Direct		126,676	130,981	154,175	127,005	129,839
123C		Inspectors - Construction
123D		Inspectors - Purchase of P,P&E					9,173	14,570
124A		Rescue Units - Salaries & Wages
124B		Rescue Units - Other Direct
124C		Rescue Units - Construction
124D		Rescue Units - Purchase of P,P&E
125A		Animal Control - Salaries & Wages		32,358	25,224	23,745	23,166	28,225
125B		Animal Control - Other Direct		11,456	9,923	9,498	5,792	7,056
125C		Animal Control - Construction
125D		Animal Control - Purchase of P,P&E
126A		Pub. Safety All Other - Salaries & Wages
126B		Pub. Safety All Other - Other Direct
126C		Pub. Safety All Other - Construction
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
128A		Streets and Highways - Salaries & Wages		299,978	324,452	319,455	280,536	271,649
128B		Streets and Highways - Other Direct		341,929	358,561	385,099	298,061	350,068
128C		Streets and Highways - Construction		1,989	318,793	476,640	732,004	475,543
128D		Streets and Highways - Purchase of P,P&E		2,644	4,165	81,962	200,576	129,853
129A		Street Cleaning - Salaries & Wages
129B		Street Cleaning - Other Direct		36,785	36,250	36,518	32,807	31,439
129C		Street Cleaning - Construction
129D		Street Cleaning - Purchase of P,P&E
130A		Powell Bill - Salaries & Wages
130B		Powell Bill - Other Direct		36,489	52,302	87,278	28,456	54,788
130C		Powell Bill - Construction					47,929
130D		Powell Bill - Purchase of P,P&E					10,740
131A		Parking Facilities - Salaries & Wages
131B		Parking Facilities - Other Direct		20,954	29,276	22,141	22,862	29,282
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
135C		Transpor. All Other - Construction
135D		Transpor. All Other - Purchase of P,P&E
136A	ENVIRON	Solid Waste - Salaries & Wages		33,698	25,204	31,001	34,142	22,831
136B	MENTAL	Solid Waste - Other Direct		812,973	765,813	755,582	726,927	801,729
136C	PROTECTION	Solid Waste - Construction
136D		Solid Waste - Purchase of P,P&E		5,289
137A		Drainage & Watershed - Salaries & Wages
137B		Drainage & Watershed - Other Direct
137C		Drainage & Watershed - Construction
137D		Drainage & Watershed - Purchase of P,P&E
138A		Cemeteries - Salaries & Wages		49,703	51,683	52,613	48,475	43,669
138B		Cemeteries - Other Direct		50,562	44,787	43,478	44,555	41,194
138C		Cemeteries - Construction
138D		Cemeteries - Purchase of P,P&E				20,072	11,380	26,800
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
140B	& PHYSICAL	Planning & Zoning - Other Direct
140C	DEVELOP	Planning & Zoning - Construction
140D		Planning & Zoning - Purchase of P,P&E
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						-52
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
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
145B		Econ. Dev. All Other - Other Direct
145C		Econ. Dev. All Other - Construction
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		294,034	302,075	282,517	252,351	246,375
153B	RECREATION	Recreation & Parks - Other Direct		335,687	335,138	384,706	286,628	276,443
153C		Recreation & Parks - Construction		653,113	1,604,178	628,737	432,862	10,666
153D		Recreation & Parks - Purchase of P,P&E			109,791	605,806	498,268	74,746
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		67,172	71,555	65,946	60,623	24,089
156B		Libraries - Other Direct		43,047	48,299	65,856	56,778	27,794
156C		Libraries - Construction
156D		Libraries - Purchase of P,P&E			61,886	120,874
157A		Cult. & Recr. All Other - Salaries & Wages
157B		Cult. & Recr. All Other - Other Direct
157C		Cult. & Recr. All Other - Construction
157D		Cult. & Recr. All Other - Purchase of P,P&E
158A	UTILITY	Water & Sewer - Salaries & Wages		924,835	908,000	867,597	765,560	643,146
158B		Water & Sewer - Other Direct		1,667,350	1,560,616	1,688,198	1,467,546	1,231,105
158C		Water & Sewer - Construction		1,897,128	3,439,266	9,779,093	5,355,413	277,660
158D		Water & Sewer - Purchase of P,P&E		160,226	2,398,700	633,559	140,930	652,441
159A		Electric Power - Salaries & Wages
159B		Electric Power - Other Direct
159C		Electric Power - Construction
159D		Electric Power - Purchase of P,P&E
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
161.1C		Storm Water - Construction
161.1D		Storm Water - Purchase of P,P&E
161B	DEBT	Water & Sewer - Interest & Fees		529,750	422,688	205,398	220,551	225,829
161D	SERVICE	Water & Sewer - Principal		2,453,587	670,259	543,468	529,160	1,409,785
162B		Electric - Interest & Fees
162D		Electric - Principal
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		61,428	79,404	97,371	123,669	76,668
166D		All Other - Principal		247,178	536,410	460,274	549,832	388,603
167B	PENSION	Direct Benefit Program - Other Direct
168B	FRINGE	Fringe Benefits Unallocated
169B		Separation Allowance - Law Enforcement		46,300	44,200	43,900	50,350	45,000
170B		Separation Allowance - Other Employees
171B		Supplemental Retirement - Law Enforcement		78,785	78,648	76,296	70,841	64,613
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	.	5,014,647.00	4,986,367.00	4,671,503.00	3,925,936.00	3,814,505.00
180.0		Current year's levy -- Motor vehicles (only)	.	132,401.00	141,933.00	186,995.00	249,273.00	240,983.00
181.0	PART 6	Uncollected Taxes - Current Year's Levy Except Mot Veh	.	44,561.00	29,570.00	23,671.00	11,401.00	12,345.00
182.0	OTHER	Uncollected Taxes - CY Levy -Motor Vehicles		17,463	17,562	21,732	37,555	39,006
183.0	DATA	Percentage of Taxes Collected - All Property %	0.00	98.79	99.08	99.07	98.83	98.73
184.0	DATA	Percentage of Taxes Collected - Exclude Motor Vehicles%	0.00	99.11	99.41	99.49	99.71	99.68
185.0		Percentage of Taxes Collected - Motor Vehicles %	0.00	86.81	87.63	88.38	84.93	83.81
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		14,634,098	13,803,304	13,341,609	14,675,180	12,991,581
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		28,173,882	23,895,662	30,230,072	25,182,649	17,934,191
194B	FISCAL	Amount - Subtract Refunding Bond Proceeds
194C	SUMMARY	Amount - Subtract Interfund Transfers In		3,086,783	2,631,514	3,840,536	3,877,903	2,041,625
194D		Amount - Net Revenues		25,087,099	21,264,148	26,389,536	21,304,746	15,892,566
		Calculated amount		25,087,099	21,264,148	26,389,536	21,304,746	15,892,566
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference
195A		Amount - Total Expenditures		27,530,412	24,443,512	30,020,510	25,260,824	15,678,403
195B		Amount - Subtract Pymts. to Refunded Debt Agent
195C		Amount - Subtract Interfund Transfers Out		3,086,783	2,631,514	3,840,536	3,877,903	2,041,625
195D		Amount - Net Expenditures		24,443,629	21,811,998	26,179,974	21,382,921	13,636,778
		Calculated amount		24,443,629	21,811,998	26,179,974	21,382,921	13,636,778
		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					8,390
402A	Sewer	Amount processed and/or purchased in units Water		754	715
402B	Operations	Amount processed and/or purchased in units Sewer		485	422
403A		Total amount billed in units - Water		754	5,322		764,913
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		2,267,241	2,077,456	1,978,178	1,818,559
408A		Dollars related to 403A above		2,123,542	1,903,509	1,858,611	1,718,189
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				5,369
421A		Number of residential accounts billed - Water				5,049
421B		Number of residential accounts billed - Sewer				946
422A		Number of non-residential & bulk accounts billed - Water				878
422B		Number of non-residential & bulk accounts billed - Sewer		2	2	2	2	2
423A		Estimated percentage of accounts outside of municipal limits



950.0		Official	ELLEN SEWELL
951.0		Title	FINANCE DIRECTOR
952.0		Date
953.0		Contact	ELLEN SEWELL
954.0		Title	FINANCE DIRECTOR
955.0		Phone	252-726-6848 EXT. 127
956.0		Fax	252-726-2267
957.0		E-Mail:

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

	2011	2010	2009	2008	2007	2006

Population	8,693	8,830	8,763	8,691	8,390	8,209
Population Group	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999
Total Operating Revenues	$0	4,618,572	4,249,027	4,187,986	3,846,383	3,406,037
Total Operating Revenues Per Capita	$0	523	485	482	458	415
Group Weighted Average Revenues Per Capita	17	261	244	235	242	255
State Weighted Average Revenues Per Capita	7	272	252	255	255	249

% to Total Operating Revenues
Operating Expenses	0.00%	86.43%	93.74%	98.26%	87.51%	91.49%
Group Weighted Average	82.20%	92.72%	91.41%	92.91%	90.03%	86.35%
State Weighted Average	91.62%	83.21%	87.12%	84.06%	80.00%	79.32%

Operating Margin	0.00%	13.57%	6.26%	1.74%	12.49%	8.51%
Group Weighted Average	17.80%	7.28%	8.59%	7.09%	9.97%	13.65%
State Weighted Average	8.38%	16.79%	12.88%	15.94%	20.00%	20.68%

Operating Transfers In	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Group Weighted Average	21.89%	1.69%	1.70%	1.04%	1.49%	1.56%
State Weighted Average	27.09%	1.59%	1.20%	1.28%	1.10%	1.57%

Operating Transfers Out	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Group Weighted Average	67.66%	3.09%	9.31%	3.10%	2.59%	1.83%
State Weighted Average	52.67%	1.55%	2.65%	3.15%	1.86%	2.84%

Net Income before capital contributions	0.00%	3.43%	-0.01%	4.42%	16.57%	8.42%
Group Weighted Average	85.84%	19.63%	12.72%	18.01%	5.29%	17.80%
State Weighted Average	643.66%	15.82%	-9.92%	18.20%	25.61%	24.40%

Key Ratios and Cash Flow

Quick Ratio	N/A	1.82	2.00	2.86	2.31	3.03
Group Weighted Average	3.75	2.97	3.21	3.12	3.25	3.67
State Weighted Average	4.02	3.21	2.82	2.96	2.91	2.83

Days Sales in Receivables	8.0	65.8	85.4	106.1	96.0	128.0
Group Weighted Average	3.4	59.4	63.6	54.7	55.3	55.7
State Weighted Average	1.2	57.9	58.5	56.7	61.6	59.8

Days Cash on Hand	0.0	726.1	1,074.8	885.7	1,229.8	918.2
Group Weighted Average	-50.1	424.6	493.9	540.8	562.2	488.8
State Weighted Average	-16.4	614.6	560.8	588.9	647.0	571.9

Cash flow from Operations	$0	1,722,907	1,974,350	271,781	1,990,564	1,864,556

Debt to Equity	0.00	0.62	0.68	0.57	0.30	0.25
Group Weighted Average	0.38	0.31	0.30	0.25	0.26	0.25
State Weighted Average	0.22	0.59	0.54	0.54	0.55	0.55

Debt per Capita	0	2,165	2,342	1,888	982	733
Group Weighted Average	20	384	357	309	307	288
State Weighted Average	8	897	783	781	761	733

Capital Expenditures:	2011	2010	2009	2008	2007	2006
	$0	0	0	0	0	0

	2005	2004	2003	2002
	$302,398	2,935,709	2,044,006	952,018

Capital Contributions: Excluded from income above	$0	806,506	1,290,629	1,388,956	2,593,703	1,243,927


Operating Statistics

Estimated population of the areas served Water	0	0	0	0	8,490	NA
Estimated population of the areas served Sewer	0	0	0	0	8,390	NA

Number of Gallons of Water Processed (000) omitted	0	754	715	0	0	NA
Number of Gallons of Sewage Processed (000) omitted	0	485	422	0	0	NA

Number of Gallons of Water Billed (000) omitted	0	754	5,322	0	764,913	NA
Number of Gallons of Sewage Billed (000) omitted	0	0	0	0	0	NA

Ratio of Water Billed to Water Processed		1.00000	7.44336			NA
Ratio of Sewage Billed to Sewage Processed		0.00000	0.00000			NA

Total Revenue from Water Sales	0	0	0	0	0	NA
Total Revenue from Sewage Sales	0	2,123,542	1,903,509	1,858,611	1,718,189	NA

Water Revenue per 1000 gallons of Sales					0.00000	NA
Sewage Revenue per 1000 gallons of Sales					204.79011	NA

Group Average Sales per thousand Gallons Water	$0.00602	$146.64376	$40.01634	$1,510.62899	$1,842.80047	NA
Group Average Sales per thousand Gallons Sewage	$0.00883	$94.75591	$48.91229	$1,673.88245	$2,249.50353	NA

State Average Sales per thousand Gallons Water	$0.00381	$25.16691	$28.47236	$12,972.02948	$5,350.70834	NA
State Average Sales per thousand Gallons Sewage	$0.00272	$48.57325	$47.83284	$11,816.81710	$3,994.76021	NA

Residential Water Sales per thousand Gallons	$0.00000					NA
Residential Sewage Sales per thousand Gallons	$0.00000					NA

Water Sales per thousand Gallons outside Municipal Limits	$0.00000					NA
Sewage Sales per thousand Gallons outside Municipal Limits	$0.00000					NA

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

Financial Graphs and Comparisons

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

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Analysis of Available Fund Balance: General Fund

	2007	2008	2009	2010	2011
Unit's FBA %	40.79%	31.31%	38.48%	51.25%	0.00%
Group average FBA %	64.31%	65.07%	70.26%	67.39%	104.97%
State average Electric/Non Electric Group FBA %	37.39%	36.66%	37.89%	38.71%	26.68%
State average FBA %	36.54%	36.35%	64.31%	37.47%	29.01%

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

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2006 2007 2008 2009 2010

Municipality 98.73% 98.83% 99.07% 99.08% 98.79%

Pop. Group 96.72% 96.70% 95.81% 95.41% 95.40%

Statewide 97.55% 97.58% 97.56% 97.34% 97.36%

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

	2006	2007	2008	2009	2010
Municipality	98.73%	98.83%	99.07%	99.08%	98.79%
Pop. Group	96.72%	96.70%	95.81%	95.41%	95.40%
Statewide	97.55%	97.58%	97.56%	97.34%	97.36%

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

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2007 2008 2009 2010 2011

Municipality 0 0 0 0 0

Pop. Group 93 71 69 89 79

Statewide 478 456 455 449 450

Municipal Population Group: 5,000 to 9,999

	2007	2008	2009	2010	2011
Municipality	0	0	0	0	0
Pop. Group	93	71	69	89	79
Statewide	478	456	455	449	450

Municipal Population Group: 5,000 to 9,999

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2006 2007 2008 2009 2010

Property Tax $487 495 558 582 576

Utility 415 456 470 480 524

Sales Tax 193 211 199 173 168

Sales & Services 153 151 155 174 174

Intergovernmental 272 264 309 311 460

Debt Proceeds 7 335 1,023 367 132

Other Miscellaneous 369 458 217 317 766

Total $1,896 2,370 2,931 2,404 2,800

	2006	2007	2008	2009	2010
Property Tax	$487	495	558	582	576
Utility	415	456	470	480	524
Sales Tax	193	211	199	173	168
Sales & Services	153	151	155	174	174
Intergovernmental	272	264	309	311	460
Debt Proceeds	7	335	1,023	367	132
Other Miscellaneous	369	458	217	317	766
Total	$1,896	2,370	2,931	2,404	2,800

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2010
2010

Category Revenue
Per Capita

Property Tax $5,085,346
$576

Water/Sewer 16,145
2

Electric 4,608,966
522

Other Utilities 0
0

Sales Tax 1,485,898
168

Sales & Services 1,539,659
174

Intergovernment 4,061,247
460

Debt Proceeds 1,161,767
132

Miscellaneous 6,762,082
766

Total $24,721,110
$2,800

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

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2010
2010

Category Expenditures
Per Capita

General Government $3,453,851
$390

Water/Sewer 0
0

Electric 4,649,539
527

Other Utilities 0
0

Debt Service 3,291,943
373

Transportation 740,768
84

Public Safety 9,962,250
1,128

Other 2,345,278
266

Total $24,443,629
$2,768

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

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2010
2010

Category Expenditures
Per Capita

Salaries & Wages $5,601,980
$634

Water/Sewer Capital 0
0

Electric Capital 2,057,354
233

Other Capital 7,388,068
837

Other Operating 9,396,227
1,064

Total $24,443,629
$2,768

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

Last Updated 2/7/2012 2:32:26 PM



	2010	2010
Category	Revenue	Per Capita
Property Tax	$5,085,346	$576
Water/Sewer	16,145	2
Electric	4,608,966	522
Other Utilities	0	0
Sales Tax	1,485,898	168
Sales & Services	1,539,659	174
Intergovernment	4,061,247	460
Debt Proceeds	1,161,767	132
Miscellaneous	6,762,082	766
Total	$24,721,110	$2,800

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

North CarolinaDepartment of State TreasurerFinancial InformationTown of Morehead City

Financial Graphs and Comparisons

North Carolina
Department of State Treasurer
Financial Information
Town of Morehead City