North Carolina
Department of State Treasurer
Financial Information
Town of Pikeville

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

Institute of Government North Carolina Cities Web Site

Go to North Carolina County and Municipal Financial Information Home Page
Go to Wayne County Map Page

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

Municipality Revenues and Expenditures Financial Profile Go to top of page			2008	2007	2006	2005	2004	2003
	Revenues by Source
		Property Tax	$183,941	176,326	179,959	179,786	178,221	145,390
		Utility	1,415,093	1,337,203	1,250,341	1,110,686	1,079,536	1,059,064
		Sales Tax	87,563	88,750	89,534	88,596	86,351	72,683
		Sales & Services	64,134	60,995	56,346	70,589	54,073	48,988
		Intergovernmental	82,896	69,696	120,366	117,553	76,638	86,748
		Debt Proceeds	750,000	-	196,829	303,171	-	-
		Other Miscellaneous	581,115	1,012,098	2,497,290	336,896	21,509	47,612
		Total	$3,164,742	2,745,068	4,390,665	2,207,277	1,496,328	1,460,485

	Expenditures by Function
		Utility	$2,212,607	2,448,689	3,583,495	1,860,416	1,005,503	995,886
		Debt Service	78,452	81,958	44,848	45,938	47,029	52,573
		Transportation	80,927	71,847	79,577	75,056	46,149	137,735
		General Government	75,552	73,166	67,792	68,875	75,359	58,688
		Public Safety	190,801	178,063	191,887	129,186	148,807	123,594
		Other	127,120	94,713	142,276	165,274	61,671	75,381
		Total	$2,765,459	2,948,436	4,109,875	2,344,745	1,384,518	1,443,857

	Expenditures by Object
		Salaries & Wages	$328,765	324,978	315,451	274,427	264,913	250,614
		Capital Outlay	1,018,594	1,268,537	2,537,721	1,005,060	27,718	22,970
		Other Operating + Debt Service	1,418,100	1,354,921	1,256,703	1,065,258	1,091,887	1,170,273
		Total	$2,765,459	2,948,436	4,109,875	2,344,745	1,384,518	1,443,857


	Per Capita Revenues by Source
		Property Tax	$262	249	252	252	251	204
		Utility	2,013	1,886	1,751	1,556	1,518	1,483
		Sales Tax	124	125	124	122	122	101
		Sales & Services	91	86	79	99	76	69
		Intergovernmental	118	98	169	165	108	121
		Debt Proceeds	1,067	-	276	425	-	-
		Other Miscellaneous	827	1,428	3,498	472	30	67
		Total	$4,502	3,872	6,149	3,091	2,105	2,045

	Per Capita Expenditures by Function
		Utility	$3,147	3,454	5,019	2,606	1,414	1,395
		Debt Service	112	116	63	64	66	74
		Transportation	115	101	111	105	65	193
		General Government	108	103	95	97	106	81
		Public Safety	271	251	269	181	209	173
		Other	181	134	199	231	87	106
		Total	$3,934	4,159	5,756	3,284	1,947	2,022

	Per Capita Expenditures by Object
		Salaries & Wages	$468	458	442	384	373	351
		Capital Outlay	1,449	1,789	3,554	1,408	39	32
		Other Operating	2,017	1,912	1,760	1,492	1,535	1,639
		Total	$3,934	4,159	5,756	3,284	1,947	2,022

	Population Group		Electric 500 to 999	Electric 500 to 999	Electric 500 to 999	Electric 500 to 999	Electric 500 to 999	Electric 500 to 999
		Number of Municipalites in Group	6	6	6	6	7	7
		Average Population In Group	765	762	760	757	716	717
		Town of Pikeville Population	703	709	714	714	711	714
	Group Average Per Capita Revenues by Source
		Property Tax	690	632	556	537	458	376
		Utility	3,009	2,842	2,645	2,540	2,342	2,302
		Sales Tax	271	256	249	217	177	140
		Sales & Services	216	189	165	171	138	134
		Intergovernmental	415	238	594	333	362	395
		Debt Proceeds	168	185	54	67	0	0
		Other Miscellaneous	349	641	790	275	171	151
		Total	5,118	4,983	5,053	4,140	3,648	3,498

	Group Average Per Capita Expenditures by Function
		Utility	2,735	2,783	4,144	2,441	2,135	2,059
		Debt Service	59	480	91	98	80	81
		Transportation	339	300	252	238	209	225
		General Government	352	363	305	273	261	235
		Public Safety	501	396	435	333	291	284
		Other	512	367	436	285	239	223
		Total	4,498	4,689	5,663	3,668	3,215	3,107

	Group Average Per Capita Expenditures by Object
		Salaries & Wages	1,096	1,028	1,010	951	842	778
		Capital Outlay	741	731	2,220	517	324	361
		Other Operating	2,661	2,930	2,433	2,200	2,049	1,968
		Total	4,498	4,689	5,663	3,668	3,215	3,107


General Fund Go to top of page			2008	2007	2006	2005	2004	2003
	General Fund revenues		$449,795	435,211	438,196	420,815	408,508	377,422
	General Fund expenditures		474,400	417,789	398,225	327,091	331,986	395,398
	Operating transfers in		-	-	629	2,063	25,000	-
	Operating transfers out		-	65,000	-	97,088	-	-
	Capital leases and installment purchase proceeds		-	-	-	-	-	-
	Other items		5,000	-	-	-	-	-
	Excess of revenues and other sources over (under) expenditures and other uses		(19,605)	(47,578)	40,600	(1,301)	101,522	(17,976)

	Fund balance available (FBA):
		In dollars	$589,812	547,899	597,985	622,719	621,667	517,124
		FBA as a % of GF Net Expenditures:
		Unit's FBA %	124.33	113.49	150.16	146.81	187.26	130.79
		Group weighted average FBA %	67.22	71.50	68.27	90.84	80.32	68.59
		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
	Water/Sewer, Electric

	Combined financial results:
		Working capital	$746,357	685,836	636,911	475,901	654,623	644,333
		Quick ratio	3.35	3.72	3.45	2.12	4.71	5.03
		Net income	558,264	1,057,690	2,496,503	381,743	5,930	33,478
		Cashflow from operations	220,034	114,907	64,180	117,174	85,295	86,821
		Depreciation & Amortization Expense	150,546	85,432	34,844	35,933	36,258	35,782



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

		Population at July 1st of the Previous Year	703	709	714	714	711	714
		Population Group	Electric 500 to 999	Electric 500 to 999	Electric 500 to 999	Electric 500 to 999	Electric 500 to 999	Electric 500 to 999
		Cash &Investments	$1,509,696	1,372,860	1,381,177	1,173,160	1,336,206	1,225,604
		Investment Earnings	84,621	71,123	52,106	23,525	12,327	14,325
		Tax Rate Equivalent	0.2321	0.1973	0.1467	0.0673	0.0358	0.0564
		Tax Rate Equivalent Group weighted average	0.0320	0.0527	0.0472	0.0243	0.0155	0.0351
		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	$36,460,627	36,040,683	35,512,332	34,964,281	34,416,262	25,399,336
		Tax Rate	0.5000	0.5000	0.5000	0.5000	0.6000	0.6000
		Tax Rate Group weighted average	0.1615	0.4727	0.1969	0.1978	0.2208	0.2350
		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	98.98	78.77	90.14	95.95	99.29	84.62
		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	$41,456,085	39,679,272	37,571,236	35,597,924	34,461,061	34,093,068
		EffectiveTax Rate	0.4398	0.4542	0.4726	0.4911	0.5992	0.4470
		Group weighted average Effective Tax Rate	0.1599	0.3723	0.1775	0.1898	0.2193	0.1988
		Statewide weighted average Effective Tax Rate	0.3765	0.3939	0.3987	0.4108	0.4209	0.4113
		Percent Collected	96.31	96.44	96.62	97.60	96.31	91.52
		Percent Collected Group weighted average	97.72	98.81	96.70	96.54	96.88	96.15
		Percent Collected Statewide	97.97	97.59	97.55	97.42	97.31	96.96
		Percent Collected Excluding Motor Vehicles	98.36	98.77	99.10	99.57	99.41	94.70
		Percent Collected Excluding Motor Vehicles Group weighted average	98.39	98.65	97.47	97.28	97.59	97.58
		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	85.85	82.71	83.11	86.05	76.16	77.09
		Percent Collected Motor Vehicles Only Group weighted average	82.38	83.29	82.35	84.17	82.35	83.16
		Percent Collected Motor Vehicles Only Statewide weighted average	86.74	86.71	86.80	87.31	87.62	86.69
		Tax Uncollected	4,333	6,250	5,971	4,221	6,339	12,952
		Tax Rate Equivalent	0.0119	0.0173	0.0168	0.0121	0.0184	0.0510
		Dominant County: Wayne
	Debt Information
		Population Group	500 to 999	500 to 999	500 to 999	500 to 999	500 to 999	500 to 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	216	212	223	227	267	#N/A
		Total Per Capita Statewide	456	478	495	505	548	#N/A
		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	0.0884%	0.1085%	0.1673%	0.1884%	0.2559%	#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	$1,485,941	792,713	849,484	381,255	413,026	444,798


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		703	709	714	714	711	714

1A	Non GASB34	General Fund Assets						602,317
1B	FISCAL	General Fund Liabilities						53,372
2A	SUMMARY	Debt-service Assets
2B		Debt service Liabilities
3A		Enterprise Assets						1,696,974
3B		Enterprise Liabilities						568,907
4A		Internal Service Assets
4B		Internal service Liabilities
5A		Special Revenue Assets
1.5A	GASB34	Governmental Activities Assets	1,049,215	1,094,314	1,106,730	1,025,729	861,196
1.5B	FISCAL	Governmental Activities Liabilities	12,461	10,270	13,544	23,408	15,329
3.5A	SUMMARY	Business Type Activities Assets	7,323,143	6,137,103	4,990,991	2,340,546	1,689,844
3.5B		Business Type Activities Liabilties	1,694,946	1,067,170	978,748	824,806	555,847
6.5A		Fiduciary Funds Assets
6.5B		Fiduciary Funds Liabilties
5B		Special Revenue Liabilities
6A		Trust & Agency Assets
6B		Trust & Agency Liabilities
7A		Capital Project Assets
7B		Capital Project Liabilities
8A		General Fixed Assets						539,548
9B		General Long term debt - Liabilities						1,376
10	PART 2	Current collections of unit-wide levy	176,050	169,488	170,635	175,529	169,106	139,718
11	TAX	Current collection of special tax districts
12	REVENUES	Prior years' levy collections	5,583	5,430	7,335	2,162	6,962	4,723
13		Penalties and interest	2,308	1,408	1,989	2,095	2,153	949
14		Collection of taxes previously written off
15		Animal tax
16		1% Local government sales and use tax	43,781	44,375	44,767	44,298	43,175	36,341
17		1/2% Local government sales and use taxes (Article 40)	21,891	22,187	22,383	22,149	21,588	18,171
18		1/2% Local government sales and use taxes (Article 42)	21,891	22,188	22,384	22,149	21,588	18,171
18.5		1/2% Local government sales and use taxes (Article 44)
19		Licenses Privilege
19.1		Privilege - Occupational & business licensing & permit taxes
19.2		Privilege -- All other privileges and pemits
20		General Municipal Vehicle Tax
21		Vehicle Tax for Public Transportation
22		Other licenses - Include CATV	1,505	6,611	5,853	5,541	4,762	4,654
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
30		Public safety
31		Transportation - Streets
32		Transportation - All other
33		Utility franchise tax
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
42		Wireless Enhanced 911 Service Charges
43		Piped Natural Gas Charge Distribution		2			5	14
44		Utility franchise tax	51,887	43,435	40,639	35,040	35,908	34,916
45		Beer and Wine tax	894	863	798	770	731	692
46		Powell Bill	28,148	25,396	25,930	26,076	23,727	26,126
47		Food stamp purchases tax reimbursement
48		Inventories tax reimbursements
49		Senior Citizens Exemption - 50%
50		Court fees - Facilities and arrest fees
51		General Government				55,667
52		Public safety	1,967		11,579		16,267
53		Transportation - Streets
54		Transportation - All other
55		Environmental protection
56		Econ. & Phys. Dev. - Housing/Comm. Dev.
57		Econ. & Phys. Dev. - All Other
58		Human Services: Health, mental health, hospitals
59		All Other
60		Culture and recreation
61	LOCAL	LOCAL Payment in lieu of taxes						25,000
62	INTERGOV	General government
63	REVENUES	Public safety
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			41,420
71	PERMITS	Building permits	403	588	927	544
72	& FEES	Inspection fees				50	250
72.1		Amusements licensing and permit taxes
73		Other permits
74	SALES &	Parking revenues
75	SERVICES	Rents and royalties	7,285	7,025	6,950	5,575	5,050	2,475
76		Airport
77		Fire protection charges
78		Solid waste	42,349	42,320	40,780	40,081	40,873	30,813
79		Ambulance and rescue squad charges
80		Cemeteries	14,500	11,650	8,616	24,933	8,000	14,800
81		Recreation service revenues					150	900
82		Library service revenues
83		Other cultural and recreational service revenues
84		Mass transit - city operated
85		Other sales and services
86	UTILITY	Water and sewer charges	420,317	365,317	306,452	249,397	227,381	228,237
87	REVENUES	Electric charges	994,776	971,886	943,889	861,289	852,155	830,827
88		Gas charges
88.1		Storm Water Fees
89	MISC.	On bond proceeds
90	REVENUES	On general and all other funds	84,621	71,123	52,106	23,525	12,327	14,325
91		Special assessments
92		Private contribution and donations						3,329
93		Sales of materials and fixed assets	6,281			2,063		5
94		Sales of real property
95		Nongovernment contributions for streets and traffic signals
96		Mixed drink surcharge
97		ABC profit distribution					1,556
98		Other miscellaneous revenues	5,262	4,032	4,362	2,002		25,299
99		Proceeds of the sale of bonds and notes	750,000		196,829	303,171
100		Proceeds of capital leases and installment purchases
101		Other	483,043	929,744	2,434,042	303,171	2,614
102	NON-REV	Supplemental schools taxes - current levy collections
103	RECEIPTS	Prior years' levy collections
104		Tax collections for units other than reporting unit
105		Utilities customers' deposits	3,550	3,550	-12,550	-2,650	4,819	1,551
106		Deposits other than utility
107		Prepaid taxes	-209	-136	-136	230	554
108		Prepaid privilege licenses
109A	PART 4	Governing body - Salaries	5,975	5,954	5,850	3,900	3,775
109B	GENERAL	Governing body - All other Direct	4,260	2,582	1,759	3,248	1,817	5,720
109C	GOVT	Governing body - Construction
109D		Governing body - Land, Equipment and Existing Structures
110A		Administration - Salaries	25,187	28,618	27,871	27,036	25,003	20,617
110B		Administration - All other Direct	40,130	34,775	32,312	34,691	43,747	29,626
110C		Administration - Construction
110D		Administration - Land, Equipment and Existing Structures		1,237			1,017	2,725
111A		Elections (cost of) - Salaries
111B		Elections (cost of) - All other Direct
111C		Elections (cost of) - Construction
111D		Elections (cost of) - Land, Equipment and Existing Structures
112A		Finance - Salaries
112B		Finance - All other Direct
112C		Finance - Construction
112D		Finance - Land, Equipment. and Existing Structures
113A		Taxes - Salaries
113B		Taxes - All other Direct
113C		Taxes - Construction
113D		Taxes - Land, Equipment, and Existing Structures
114A		Legal - Salaries
114B		Legal - All other Direct
114C		Legal - Construction
114D		Legal - Land, Equipment, and Existing Structures
115A		Public Buildings - Salaries
115B		Public Buildings - All other Direct
115C		Public Buildings - Construction
115D		Public Buildings - Land, Equipment, and Existing Structures
116A		Court Facilities - Salaries
116B		Court Facilities - All other Direct
116C		Court Facilities - Construction
116D		Court Facilities - Land, Equipment, and Existing Structures
117A		Central Facilites - Salaries
117B		Central Facilities - All other Direct
117C		Central Facilites - Construction
117D		Central Facilites - Land, Equipment, and Existing Structures
118A		General Government All Other - Salaries
118B		General Government All Other - All other Direct
118C		General Government All Other - Construction
118D		General Government All Other - Land, Equipment, and Existing Structures
119A	PUBLIC	Police and Communications - Salaries	124,934	114,446	100,631	82,431	78,064	78,020
119B	SAFETY	Police and Communications - All other Direct	34,480	29,774	22,963	19,260	18,352	17,877
119C		Police and Communications - Construction
119D		Police and Communications - Land, Equipment and Existing Structures			40,189		24,668
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
122B		Fire - All other Direct	27,000	27,000	25,000	25,035	25,175	25,175
122C		Fire - Construction
122D		Fire - Land, Equipment, and Existing Structures
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	25,394	27,098	22,963	16,765	16,943	34,615
128B		Streets and Highways - All other Direct	55,533	32,996	56,614	31,570	29,206	103,120
128C		Streets and Highways - Construction
128D		Streets and Highways - Land, Equipment and Existing Structures		11,753		26,721
129A		Street Cleaning - Salaries
129B		Street Cleaning - All other Direct
129C		Street Cleaning - Construction
129D		Street Cleaning - Land, Equipment, and Existing Structures
130A		State Street Aid Allocation - Powell Bill - Salries
130B		State Street Aid Allocation - Powell Bill - All other Direct
130C		State Street Aid Allocation - Powell Bill - Construction
130D		State Street Aid Allocation - Powell Bill - Land, Equipment, and Existing Structures
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			10,366	11,573	11,031	9,874
136B	MENTAL	Solid Waste - All other Direct	40,468	38,468	24,923	23,653	19,727	21,293
136C	PROTECTION	Solid Waste - Construction
136D		Solid Waste - Land, Equipment, and Existing Structures
137A		Drainage and Watershed - Salaries
137B		Drainage and Watershed - All other Direct
137C		Drainage and Watershed - Construction
137D		Drainage and Watershed - Land, Equipment, and Existing Structures
138A		Cemeteries - Salaries
138B		Cemeteries - All other Direct	765	1,118	1,092	888	788	1,013
138C		Cemeteries - Construction
138D		Cemeteries - Land, Equipment, and Existing Structures		6,200
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
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	29,829	15,783
153B	RECREATION	Recreation and Parks - All other Direct	45,861	19,276	15,853	12,311	23,786	20,161
153C		Recreation and Parks - Construction			83,307	111,300
153D		Recreation and Parks - Land, Equipment, and Existing Structures	4,000	6,200				11,592
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	6,197	7,668	6,735	5,549	6,339	5,045
156C		Libraries - Construction
156D		Libraries - Land, Equipment, and Existing Structures						6,403
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	87,926	91,230	120,194	107,522	105,368	86,354
158B		Water and Sewer - All other Direct	166,770	173,761	134,370	74,794	112,233	102,402
158C		Water and Sewer - Construction	299,366	1,222,183	2,405,150	858,539
158D		Water and Sewer - Land, Equipment, and Existing Structures			9,075	8,500	1,017	1,500
159A		Electric Power - Salaries	29,520	41,849	27,576	25,200	24,729	21,134
159B		Electric Power - All other Direct	913,797	898,702	887,130	785,861	761,140	783,746
159C		Electric Power - Construction	709,918
159D		Electric Power - Land, Equipment, and Existing Structures	5,310	20,964			1,016	750
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	21,680	25,187	13,077	14,167	15,257	20,802
161D	SERVICE	Water and Sewer - Debt Service Principal Payments	56,772	56,771	31,771	31,771	31,772	31,771
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
166D		All Other - Debt Service Principal Payments
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)	4,387	6,843	3,104	2,460	2,548	2,522
172B		Fringe Benefits Other - (B)
173A		Multi-County Library District, County, or Other Municipality Authority
173B	INTERGOV	Multi-County Library District, County, or Other Municipality (Item number)
173C	EXPEND	Multi-County Library District, County, or Other Municipality (Amount)
174A		General Governmental Actitivies shared with the County (County)
174B		General Governmental Actitivies shared with the County (Item number)
174C		General Governmental Actitivies shared with the County (Amount)
175A		Highways (Payments to State) (State)
175B		Highways (Payments to State) (Item number)
175C		Highways (Payments to State) (Amount)
176A		Others - Name of Payee #1
176B		Others - 1 (B)
176C		Others - 1 (C)
177A		Others - Name of Payee #2
177B		Others - 2 (B)
177C		Others - 2 (C)
178A		Others - Name of Payee #3
178B		Others - 3 (B)
178C		Others - 3 (C)
179	PART 6	Current Year Levy Excluding Motor Vehicles	152,852	150,250	149,218	149,844	148,693	125,067
180	OTHER	Current Year Levy Motor Vehicles Only	29,949	25,488	27,388	25,685	22,922	27,603
181	DATA	Uncollected Taxes - Current Year's Levy - Excluding Motor Vehicles	2,514	1,844	1,344	637	875	6,627
182		Uncollected Taxes - Current Year's Levy - Motor Vehicles	4,237	4,406	4,627	3,584	5,464	6,325
183		Percentage of Taxes Collected - Current Year All Property	96.31	96.44	96.62	97.60	96.31	91.52
184		Percentage of Taxes Collected - Current Year - Excluding Motor Vehicles	98.36	98.77	99.10	99.57	99.41	94.70
185		Percentage of Taxes Collected - Current Year - Motor Vehicles	85.85	82.71	83.11	86.05	76.16	77.09
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	14,603
189C	INVEST	Cash on Hand and in Bank, and Securities - All Other	1,509,696	1,372,860	1,381,177	1,173,160	1,336,206	1,225,604
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	3,230,292	2,810,068	4,391,294	2,329,365	1,521,328	1,460,485
194B	FISCAL	Amounts - Subtract proceeds of refunding debt
194C	SUMMARY	Amounts - Subtract interfund transfers in	65,550	65,000	629	122,088	25,000
194D		Amounts - Net Revenues per AFIR	3,164,742	2,745,068	4,390,665	2,207,277	1,496,328	1,460,485
		Calculated amount	3,164,742	2,745,068	4,390,665	2,207,277	1,496,328	1,460,485
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference
195A		Amounts - Total Expenditures and other financing sources per audit	2,831,009	3,013,436	4,110,504	2,466,833	1,409,518	1,443,857
195B		Amounts - Subtract payments to refunding debt escrow agent
195C		Amounts - Subtract interfund transfers out	65,550	65,000	629	122,088	25,000
195D		Amounts Net Expenditures per AFIR	2,765,459	2,948,436	4,109,875	2,344,745	1,384,518	1,443,857
		Calculated amount	2,765,459	2,948,436	4,109,875	2,344,745	1,384,518	1,443,857
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference

	PART 10

950		Name of Official Signatory	Herb Sieger
951		Title of Official	Mayor
952		Date Certified	10/31/2008	10/15/2007	01/02/2007
953		Person to Contact	Kathie Fields
954		Title of Person to Contact	Town Clerk
955		Telephone Number	919-242-5126
956		Facsimile Number	919-242-4186

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

	2008	2007	2006	2005	2004	2003

Population	703	709	714	714	711	714
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	$420,317	365,317	306,452	249,397	228,762	237,541
Total Operating Revenues Per Capita	$598	515	429	349	322	333
Group Weighted Average Revenues Per Capita	913	732	416	378	343	356
State Weighted Average Revenues Per Capita	364	367	356	331	308	295

% to Total Operating Revenues
Operating Expenses	95.12%	95.96%	94.23%	87.11%	111.33%	94.23%
Group Weighted Average	102.97%	110.20%	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	4.88%	4.04%	5.77%	12.89%	-11.33%	5.77%
Group Weighted Average	-2.97%	-10.20%	-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)	0.00%	17.79%	0.00%	10.02%	0.00%	0.00%
Group Weighted Average	6.88%	4.51%	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	0.58%	16.27%	2.69%	17.87%	-17.74%	-2.52%
Group Weighted Average	4.35%	-3.90%	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	2.10	0.37	0.43	0.34	1.55	2.60
Group Weighted Average	8.86	7.28	4.27	9.61	6.12	8.52
State Weighted Average	2.95	2.90	2.82	1.81	2.76	3.04

Days Sales in Receivables	42.3	43.5	41.5	40.3	36.4	40.3
Group Weighted Average	44.9	43.2	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	170.0	18.6	37.7	103.5	87.3	146.5
Group Weighted Average	519.7	467.2	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	$160,700	87,093	49,654	55,557	24,228	49,678

Debt to Equity	0.15	0.18	0.26	0.80	0.75	0.75
Group Weighted Average	0.07	0.08	0.04	0.04	0.18	0.18
State Weighted Average	0.56	0.55	0.52	0.52	0.52	0.50

Debt per Capita	1,047	1,118	1,190	959	536	578
Group Weighted Average	558	594	499	495	506	454
State Weighted Average	1,136	1,091	989	929	855	852

Capital Expenditures:	2008	2007	2006	2005	2004	2003
	$299,366	1,222,183	2,414,225	867,039	1,017	1,500

	2002	2001	2000	1999
	$56,821	21,366	29,841	3,000

Capital Contributions: Excluded from income above	$483,043	929,744	2,434,042	303,171	0	0


Operating Statistics

Estimated population of the areas served Water	0	714	NA	NA	NA	NA
Estimated population of the areas served Sewer	0	243	NA	NA	NA	NA

Number of Gallons of Water Processed (000) omitted	22,960	31,814	NA	NA	NA	NA
Number of Gallons of Sewage Processed (000) omitted	36,861	51,224	NA	NA	NA	NA

Number of Gallons of Water Billed (000) omitted	21,877	21,871	NA	NA	NA	NA
Number of Gallons of Sewage Billed (000) omitted	17,647	17,879	NA	NA	NA	NA

Ratio of Water Billed to Water Processed	0.95283	0.68746	NA	NA	NA	NA
Ratio of Sewage Billed to Sewage Processed	0.47874	0.34904	NA	NA	NA	NA

Total Revenue from Water Sales	179,824	178,677	NA	NA	NA	NA
Total Revenue from Sewage Sales	182,542	170,594	NA	NA	NA	NA

Water Revenue per 1000 gallons of Sales		250.24790	NA	NA	NA	NA
Sewage Revenue per 1000 gallons of Sales		702.03292	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	$8.64328	7.69296	NA	NA	NA	NA
Residential Sewage Sales per thousand Gallons	$9.47690	10.09009	NA	NA	NA	NA

Water Sales per thousand Gallons outside Municipal Limits		6.93973	NA	NA	NA	NA
Sewage Sales per thousand Gallons outside Municipal Limits		9.94605	NA	NA	NA	NA

Total Water Sales per thousand gallons for Redistribution	$0.00000	0.00000	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 Pikeville

	2008	2007	2006	2005	2004	2003

Population	703	709	714	714	711	714
Power Agency Group	N.C. Easterrn Municipal Power Agency
Total Operating Revenues	$994,776	971,886	943,889	861,289	852,155	836,958
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	85.1%	86.1%	85.5%	85.3%	83.4%	82.6%
Group Weighted Average	80.0%	81.0%	81.5%	80.3%	79.6%	79.5%

Other Operating Expenses	10.2%	10.7%	11.5%	9.0%	9.0%	13.6%
Group Weighted Average	16.7%	15.9%	16.3%	17.5%	16.8%	16.5%

Operating Margin	4.6%	3.1%	3.0%	5.7%	7.7%	3.8%
Group Weighted Average	3.3%	3.1%	2.1%	2.2%	3.6%	4.0%

Operating Transfers In/(out)	0.0%	0.0%	0.0%	-2.9%	-2.9%	0.0%
Group Weighted Average In/(out)	-1.9%	-2.4%	-1.7%	-2.4%	-2.3%	-2.0%

Net Income	7.3%	7.0%	5.7%	3.9%	5.5%	4.7%
Group Weighted Average	1.9%	1.3%	0.7%	0.4%	1.7%	2.4%

Key Ratios and Cash Flow

Quick Ratio	3.8	7.2	7.2	6.0	5.9	5.8
Group Weighted Average	2.6	25.0	2.9	3.2	3.5	3.4

Coverage Ratio	1.09	1.08	1.07	1.05	1.10	1.06
Group Weighted Average	1.08	1.07	1.06	1.05	1.08	1.09

Days Sales in Receivables	28.6	27.2	31.4	33.3	36.8	31.9
Group Weighted Average	42.6	41.6	42.3	43.7	44.9	42.0

Days Cash on Hand	306.2	298.6	289.2	204.3	300.6	275.0
Group Weighted Average	68.8	62.7	72.7	87.9	90.0	91.3

Cash flow from Operations	$59,334	27,814	14,526	61,617	61,067	37,143

Capital Expenditures:	$715,228	20,964	0	0	1,016	750


	2008	2007	2006	2005	2004	2003
Capital Contributions: Excluded from Income Above	$0	0	0	0	0	0

Operating Transfers to the General Fund as a % of GF Revenues	0.00%	0.00%	0.00%	0.00%	6.12%	0.00%

	2002	2001	2000	1999	1998
	#VALUE!	#VALUE!	296.00%	0.00%	0.00%

Gross Electric Fund Assets as Cost	$1,875,448	1,160,220	1,139,256	1,139,256	1,144,596	1,143,580
Estimated Tax Loss from Municipal Ownership of Utility	$9,377	$5,801	5,696	5,696	6,868	6,861
Tax Rate Equivalent	0.0257	0.0161	0.0160	0.0163	0.0200	0.0270

Operating Transfers to the General Fund as a % of Gross Fixed Assets	0.00%	0.00%	0.00%	0.00%	2.18%	0.00%

Operating Transfers to the General Fund as a Tax Rate Equivalent	0.0000	0.0000	0.0000	0.0000	0.0726	0.0000

Tax Rate Adjusted for Assessed to Sales Ratio	0.4398	0.4542	0.4726	0.4911	0.5992	0.4470

Tax Rate Adjusted Excluding Transfers	0.4398	0.4542	0.4726	0.4911	0.6719	0.4470

Weighted Average Group Rate Adjusted	0.1599	0.3723	0.1775	0.1898	0.2193	0.1988

Weighted Average Non Electric Adjusted Rate	0.1693	0.1794	0.2410	0.2540	0.2730	0.2956

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 %	187.26%	146.81%	150.16%	113.49%	124.33%
Group average FBA %	80.32%	90.84%	68.27%	71.50%	67.22%
State average Electric/Non Electric Group FBA %	36.12%	36.30%	35.69%	34.02%	35.36%
State average FBA %	36.35%	36.76%	80.32%	36.37%	36.20%

Municipal Population Group: Electric 500 to 999

Go to top of page

2004 2005 2006 2007 2008

Municipality 96.31% 97.60% 96.62% 96.44% 96.31%

Pop. Group 96.88% 96.54% 96.70% 98.81% 97.72%

Statewide 97.31% 97.42% 97.55% 97.59% 97.97%

Municipal Population Group: Electric 500 to 999

	2004	2005	2006	2007	2008
Municipality	96.31%	97.60%	96.62%	96.44%	96.31%
Pop. Group	96.88%	96.54%	96.70%	98.81%	97.72%
Statewide	97.31%	97.42%	97.55%	97.59%	97.97%

Municipal Population Group: Electric 500 to 999

Go to top of page

2004 2005 2006 2007 2008

Municipality 0 0 0 0 0

Pop. Group 267 227 223 212 216

Statewide 548 505 495 478 456

Municipal Population Group: 500 to 999

	2004	2005	2006	2007	2008
Municipality	0	0	0	0	0
Pop. Group	267	227	223	212	216
Statewide	548	505	495	478	456

Municipal Population Group: 500 to 999

Go to top of page

2004 2005 2006 2007 2008

Property Tax $251 252 252 249 262

Utility 1,518 1,556 1,751 1,886 2,013

Sales Tax 122 122 124 125 124

Sales & Services 76 99 79 86 91

Intergovernmental 108 165 169 98 118

Debt Proceeds 0 425 276 0 1,067

Other Miscellaneous 30 472 3,498 1,428 827

Total $2,105 3,091 6,149 3,872 4,502

	2004	2005	2006	2007	2008
Property Tax	$251	252	252	249	262
Utility	1,518	1,556	1,751	1,886	2,013
Sales Tax	122	122	124	125	124
Sales & Services	76	99	79	86	91
Intergovernmental	108	165	169	98	118
Debt Proceeds	0	425	276	0	1,067
Other Miscellaneous	30	472	3,498	1,428	827
Total	$2,105	3,091	6,149	3,872	4,502

Go to top of page

2008
2008

Category Revenue
Per Capita

Property Tax $183,941
$262

Water/Sewer 420,317
598

Electric 994,776
1,415

Other Utilities 0
0

Sales Tax 87,563
124

Sales & Services 64,134
91

Intergovernment 82,896
118

Debt Proceeds 750,000
1,067

Miscellaneous 581,115
827

Total $3,164,742
$4,502

Municipal Population Group: Electric 500 to 999

Go to top of page

2008
2008

Category Expenditures
Per Capita

General Government $75,552
$108

Water/Sewer 554,062
788

Electric 1,658,545
2,359

Other Utilities 0
0

Debt Service 78,452
112

Transportation 80,927
115

Public Safety 190,801
271

Other 127,120
181

Total $2,765,459
$3,934

Municipal Population Group: Electric 500 to 999

Go to top of page

2008
2008

Category Expenditures
Per Capita

Salaries & Wages $328,765
$468

Water/Sewer Capital 299,366
426

Electric Capital 715,228
1,017

Other Capital 4,000
6

Other Operating 1,418,100
2,017

Total $2,765,459
$3,934

Municipal Population Group: Electric 500 to 999

Last Updated 8/27/2009 7:54:01 AM



	2008	2008
Category	Revenue	Per Capita
Property Tax	$183,941	$262
Water/Sewer	420,317	598
Electric	994,776	1,415
Other Utilities	0	0
Sales Tax	87,563	124
Sales & Services	64,134	91
Intergovernment	82,896	118
Debt Proceeds	750,000	1,067
Miscellaneous	581,115	827
Total	$3,164,742	$4,502

Municipal Population Group: Electric 500 to 999

North CarolinaDepartment of State TreasurerFinancial InformationTown of Pikeville

Financial Graphs and Comparisons

North Carolina
Department of State Treasurer
Financial Information
Town of Pikeville