North Carolina
Department of State Treasurer
Financial Information
Town of Red Springs



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
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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
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200820072006200520042003

Revenues by Source







Property Tax$1,042,108 936,030 951,783 732,229 705,480 680,539


Utility 5,215,615 4,947,510 5,052,655 4,647,619 4,517,148 4,567,658


Sales Tax 691,580 665,442 614,294 588,281 555,358 479,381


Sales & Services 956,418 665,655 612,319 625,655 589,576 613,343


Intergovernmental 1,128,151 884,717 761,627 974,846 1,176,495 944,357


Debt Proceeds 95,000 82,150 145,119 309,835 191,076 60,390


Other Miscellaneous 184,290 199,029 231,792 177,448 267,011 296,505


Total$9,313,162 8,380,533 8,369,589 8,055,913 8,002,144 7,642,173










Expenditures by Function







Utility$6,141,766 5,158,873 4,559,667 4,298,417 4,385,574 4,375,906


Debt Service 225,908 256,371 267,939 407,385 313,160 237,837


Transportation 434,144 477,515 418,247 444,583 511,755 340,690


General Government 611,248 517,676 886,517 868,149 996,560 837,439


Public Safety 1,244,140 1,218,952 918,334 1,001,948 796,434 770,003


Other 1,409,206 984,744 965,340 1,201,585 1,257,933 1,011,552


Total$10,066,412 8,614,131 8,016,044 8,222,067 8,261,416 7,573,427










Expenditures by Object







Salaries & Wages$2,762,841 2,476,784 2,308,698 2,354,733 2,346,936 2,205,293


Capital Outlay 797,425 567,999 180,483 296,988 536,036 327,920


Other Operating + Debt Service 6,506,146 5,569,348 5,526,863 5,570,346 5,378,444 5,040,214


Total$10,066,412 8,614,131 8,016,044 8,222,067 8,261,416 7,573,427



















Per Capita Revenues by Source







Property Tax$297 268 274 212 205 197


Utility 1,486 1,415 1,457 1,347 1,310 1,320


Sales Tax 196 190 176 171 162 138


Sales & Services 273 190 177 181 171 177


Intergovernmental 322 253 220 283 341 273


Debt Proceeds 27 23 42 90 55 17


Other Miscellaneous 53 57 67 51 77 86


Total$2,654 2,396 2,413 2,335 2,321 2,208










Per Capita Expenditures by Function







Utility$1,750 1,475 1,314 1,246 1,272 1,264


Debt Service 64 73 77 118 91 69


Transportation 124 137 121 129 148 98


General Government 174 147 256 252 290 243


Public Safety 355 349 265 290 231 222


Other 402 282 278 348 365 292


Total$2,869 2,463 2,311 2,383 2,397 2,188










Per Capita Expenditures by Object







Salaries & Wages$787 708 666 683 681 637


Capital Outlay 227 162 52 86 156 95


Other Operating 1,855 1,593 1,593 1,614 1,560 1,456


Total$2,869 2,463 2,311 2,383 2,397 2,188










Population GroupElectric 2,500 to 9,999 Electric 2,500 to 9,999 Electric 2,500 to 9,999 Electric 2,500 to 9,999 Electric 2,500 to 9,999 Electric 2,500 to 9,999


Number of Municipalites in Group 21 20 20 20 19 20


Average Population In Group 5,139 5,149 5,074 4,832 4,875 5,080


Town of Red Springs Population 3,509 3,497 3,469 3,450 3,447 3,461

Group Average Per Capita Revenues by Source







Property Tax 280 301285282274267


Utility 1,888 1,8951,8501,7921,8061,724


Sales Tax 146 162152152142121


Sales & Services 133 120119117119126


Intergovernmental 186 220226301300255


Debt Proceeds 153 12454434034


Other Miscellaneous 201 18412598126113


Total 2,987 3,0062,8112,7852,8072,640










Group Average Per Capita Expenditures by Function







Utility 1,755 1,7001,7121,7261,7531,734


Debt Service 135 109999998107


Transportation 120 148136140135122


General Government 148 181163174180166


Public Safety 410 405362361331303


Other 368 365329260250243


Total 2,936 2,9082,8012,7602,7472,675










Group Average Per Capita Expenditures by Object







Salaries & Wages 602 595593595576520


Capital Outlay 432 375348289265363


Other Operating 1,902 1,9381,8601,8761,9061,792


Total 2,936 2,9082,8012,7602,7472,675


















General Fund
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200820072006200520042003

General Fund revenues$3,503,731 2,810,849 2,680,931 2,446,231 2,418,974 2,272,434

General Fund expenditures 3,431,844 2,859,777 2,850,729 3,016,832 2,987,895 2,532,844

Operating transfers in - - 170,732 607,464 200,142 198,683

Operating transfers out 56,305 - - - - -

Capital leases and installment purchase proceeds 95,000 69,500 130,169 255,000 133,000 60,390

Other items - 5,525 25,665 - 4,420 -

Excess of revenues and other sources over (under) expenditures and other uses 110,582 26,097 156,768 291,863 (231,359) (1,337)










Fund balance available (FBA):







In dollars$298,009 298,846 400,587 272,023 60,462 276,839


FBA as a % of GF Net Expenditures:







Unit's FBA %8.7810.7114.729.852.1211.20


Group weighted average FBA %39.9437.6839.1038.1938.9739.36


State weighted average Electric Group35.3634.0235.6936.3036.1234.92


State weighted average FBA %36.2036.3736.3136.7636.3536.06

















Enterprise Funds:
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Electric, Water/Sewer













Combined financial results:







Working capital$1,642,362 2,043,091 2,435,011 2,195,380 2,568,812 2,706,203


Quick ratio2.39 3.12 4.06 3.76 5.29 6.35


Net income(148,580)249,975 349,763 (55,396)702,078 (18,641)


Cashflow from operations227,595 447,122 375,655 431,258 326,866 375,103


Depreciation & Amortization Expense443,945 44,504 44,504 50,609 80,671 406,893


























Cash, Investments and Financing
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200820072006200520042003











Population at July 1st of the Previous Year3,5093,4973,4693,4503,4473,461


Population GroupElectric 2,500 to 9,999 Electric 2,500 to 9,999 Electric 2,500 to 9,999 Electric 2,500 to 9,999 Electric 2,500 to 9,999 Electric 2,500 to 9,999


Cash &Investments$1,574,692 1,782,003 2,015,752 1,874,258 1,995,580 2,379,485


Investment Earnings16,708 42,655 48,015 23,221 26,108 29,510


Tax Rate Equivalent0.01050.02640.02790.02150.02410.0275


Tax Rate Equivalent Group weighted average0.05480.07220.05610.03170.01860.0285


Tax Rate Equivalent Statewide weighted average0.05240.09200.05730.04150.03400.0332


Latest year of Revaluation 200520052005199619961996


January 1, Prior Year Assessed Valuation$158,787,482 161,579,998 172,185,109 107,756,177 108,396,017 107,359,856


Tax Rate0.62000.62000.66000.66000.63000.6300


Tax Rate Group weighted average0.38340.40660.40940.40790.41370.4341


Tax Rate State Wide0.42540.44550.43210.44480.45660.4594


Assessment -to-Sales Ratio89.7290.4697.3090.5890.5889.88


Assessment -to-Sales Ratio Group weighted average86.6889.3590.8392.3792.1686.98


Assessment -to-Sales Ratio Statewide88.5288.4192.2892.3592.1889.54


Assessed Valuation Adjusted for Assesment to Sales Ratio$176,981,144 178,620,382 176,963,113 118,962,439 119,668,820 119,447,993


EffectiveTax Rate0.55630.56090.64220.59780.57070.5662


Group weighted average Effective Tax Rate0.33230.36330.37190.37680.38120.3776


Statewide weighted average Effective Tax Rate0.37650.39390.39870.41080.42090.4113


Percent Collected80.2283.4479.3186.1687.7089.69


Percent Collected Group weighted average96.7496.0095.4295.7095.3695.32


Percent Collected Statewide97.9797.5997.5597.4297.3196.96


Percent Collected Excluding Motor Vehicles81.1985.2880.4489.2089.0891.37


Percent Collected Excluding Motor Vehicles Group weighted average97.2197.3896.9697.0896.1597.01


Percent Collected Excluding Motor Vehicles Statewide weighted average98.6698.5998.6198.3698.2698.31


Percent Collected Motor Vehicles Only 72.8570.7769.8471.3979.5079.19


Percent Collected Motor Vehicles Only Group weighted average81.3682.2880.7181.6291.4683.14


Percent Collected Motor Vehicles Only Statewide weighted average 86.7486.7186.8087.3187.6286.69


Tax Uncollected32,884 151,156 216,532 91,061 82,759 69,871


Tax Rate Equivalent0.02070.09350.12580.08450.07630.0651


Dominant County: Robeson






Debt Information








Population Group2,500 to 4,9992,500 to 4,9992,500 to 4,9992,500 to 4,9992,500 to 4,9992,500 to 4,999


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 13,000 36,000


General Government GO Debt0 0 0 0 0 0


Total General Obligation Debt0 0 0 0 13,000 36,000


Per Capita$0 0 0 0 4 10


Total Per Capita for the Population Group152 149 162 162 159 #N/A


Total Per Capita Statewide456 478 495 505 548 #N/A


Total per Assessed Valuation Adjusted for Current Year Sales0.0000%0.0000%0.0000%0.0000%0.0109%0.0301%


Total per Assessed Valuation Adjusted for Current Year Sales- Group Average0.1101%0.1223%0.1565%0.1724%0.1878%#N/A


Total per Assessed Valuation Adjusted for Current Year Sales - Statewide0.4131%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 Government0 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
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LineSectionDescription200820072006200520042003

Population at July 1st of the Previous Year Adjusted for Boundry Changes3,5093,4973,4693,4503,4473,461









1ANon GASB34General Fund Assets




934,611
1BFISCAL General Fund Liabilities




365,535
2ASUMMARYDebt-service Assets





2B
Debt service Liabilities





3A
Enterprise Assets




5,750,796
3B
Enterprise Liabilities




896,812
4A
Internal Service Assets





4B
Internal service Liabilities





5A
Special Revenue Assets




46,468
1.5AGASB34Governmental Activities Assets4,321,8104,157,0963,766,3123,200,8672,587,835
1.5BFISCAL Governmental Activities Liabilities1,174,0631,211,0061,027,021797,341528,761
3.5ASUMMARYBusiness Type Activities Assets8,009,8966,519,9476,361,1046,129,0876,247,032
3.5B
Business Type Activities Liabilties545,098552,762643,894761,640783,461
6.5A
Fiduciary Funds Assets





6.5B
Fiduciary Funds Liabilties





5B
Special Revenue Liabilities




18,133
6A
Trust & Agency Assets





6B
Trust & Agency Liabilities





7A
Capital Project Assets





7B
Capital Project Liabilities





8A
General Fixed Assets




3,380,049
9B
General Long term debt - Liabilities




946,951
10PART 2Current collections of unit-wide levy835,693761,391830,231636,077610,970608,152
11TAXCurrent collection of special tax districts69,30462,42958,58744,37744,68243,103
12REVENUESPrior years' levy collections188,964154,461109,69482,07976,94059,546
13
Penalties and interest17,45120,17811,85814,07317,57012,841
14
Collection of taxes previously written off





15
Animal tax





16
1% Local government sales and use tax215,251198,549187,146210,192187,117184,277
17
1/2% Local government sales and use taxes (Article 40)176,586173,976157,857136,663134,407147,552
18
1/2% Local government sales and use taxes (Article 42)175,574173,060157,126135,917133,556147,552
18.5
1/2% Local government sales and use taxes (Article 44)124,169119,857112,165105,509100,278
19
Licenses Privilege



6,9507,395
19.1
Privilege - Occupational & business licensing & permit taxes
8,5268,1326,410

19.2
Privilege -- All other privileges and pemits8,692




20
General Municipal Vehicle Tax


1,5362,0612,616
21
Vehicle Tax for Public Transportation





22
Other licenses - Include CATV
29,48230,67830,14025,51424,924
23
Local occupancy tax





24
Prepared food tax





25
911 charges





26
Gross Receipts Tax on Short Term Vehicles Leases320




27FEDERALFEDERAL Payment in lieu of taxes





28INTERGOVEquitable sharing of Federally forfeited property19,533




29REVENUESGeneral government





30
Public safety85,548




31
Transportation - Streets





32
Transportation - All other





33
Utility franchise tax





34
Housing/community development





35
All Other220,000479,059442,183572,581297,369218,319
36
Human services: Health, mental health, hospitals





37
All other





38
Culture and recreation





39STATEState Payment in Lieu of Taxes




2,494
40INTERGOVControlled substance tax



37265
41REVENUESIntangibles tax reimbursement + Transistional Hold Harmless Revenues





42
Wireless Enhanced 911 Service Charges





43
Piped Natural Gas Charge Distribution10,28311,285



44
Utility franchise tax163,798136,625124,538112,653110,225120,718
45
Beer and Wine tax16,10915,67515,23815,25714,86422,374
46
Powell Bill127,232113,705115,720116,643106,162117,380
47
Food stamp purchases tax reimbursement





48
Inventories tax reimbursements





49
Senior Citizens Exemption - 50%





50
Court fees - Facilities and arrest fees10,38411,69011,53020,08010,57725,440
51
General Government

4,000
29,5999,304
52
Public safety
96,67856,61866,06851,36269,864
53
Transportation - Streets


3,000

54
Transportation - All other





55
Environmental protection



29,5201,329
56
Econ. & Phys. Dev. - Housing/Comm. Dev.380,328




57
Econ. & Phys. Dev. - All Other94,936


214,459136,541
58
Human Services: Health, mental health, hospitals





59
All Other





60
Culture and recreation





61LOCALLOCAL Payment in lieu of taxes





62INTERGOVGeneral government





63REVENUESPublic safety





64
Transportatin - Streets





65
Transportation - All other





66
Environmental protection





67
Economic and physical development
20,000-8,20068,564311,986220,529
68
Human Services: Health, Mental Health & Hosp





69
Human Services: All Other





70
Culture and recreation





71PERMITS Building permits





72& FEESInspection fees24,47915,01013,99211,05511,02311,810
72.1
Amusements licensing and permit taxes





73
Other permits





74SALES &Parking revenues





75SERVICESRents and royalties78,250




76
Airport





77
Fire protection charges18,750




78
Solid waste462,100419,619426,172429,221405,631413,917
79
Ambulance and rescue squad charges





80
Cemeteries14,3107,87014,4009,3505,3954,735
81
Recreation service revenues8,7331,9652,2472,0849,050300
82
Library service revenues





83
Other cultural and recreational service revenues
6,201



84
Mass transit - city operated





85
Other sales and services374,275230,000169,500185,000169,500194,391
86UTILITYWater and sewer charges883,699831,781939,151918,428885,690938,445
87REVENUESElectric charges4,331,9164,115,7294,113,5043,729,1913,631,4583,629,213
88
Gas charges





88.1
Storm Water Fees





89MISC.On bond proceeds





90REVENUESOn general and all other funds16,70842,65548,01523,22126,10829,510
91
Special assessments





92
Private contribution and donations18,915




93
Sales of materials and fixed assets6,2025,52525,665
4,420-9,112
94
Sales of real property





95
Nongovernment contributions for streets and traffic signals





96
Mixed drink surcharge





97
ABC profit distribution5,317
7,9275,97910,7899,183
98
Other miscellaneous revenues34,35311,3791,9171,93323,5084,071
99
Proceeds of the sale of bonds and notes


297,235179,076
100
Proceeds of capital leases and installment purchases95,00082,150145,11912,60012,00060,390
101
Other
24,02336,87952,797111,956173,005
102NON-REVSupplemental schools taxes - current levy collections





103RECEIPTSPrior years' levy collections





104
Tax collections for units other than reporting unit





105
Utilities customers' deposits





106
Deposits other than utility





107
Prepaid taxes





108
Prepaid privilege licenses





109APART 4Governing body - Salaries3,7302,1502,2003,5023,2703,770
109BGENERALGoverning body - All other Direct30,46432,87121,50022,59317,98814,584
109CGOVTGoverning body - Construction





109D
Governing body - Land, Equipment and Existing Structures





110A
Administration - Salaries155,762137,83381,404126,694121,787116,935
110B
Administration - All other Direct35,97667,71036,56817,00818,99316,168
110C
Administration - Construction





110D
Administration - Land, Equipment and Existing Structures





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 - Salaries111,218191,917564,051545,693577,552506,646
112B
Finance - All other Direct120,00782,831160,047151,809187,118165,286
112C
Finance - Construction





112D
Finance - Land, Equipment. and Existing Structures15,497
18,233
25,754
113A
Taxes - Salaries





113B
Taxes - All other Direct
1,7641,9143005,39913,350
113C
Taxes - Construction





113D
Taxes - Land, Equipment, and Existing Structures





114A
Legal - Salaries65,103




114B
Legal - All other Direct36,590




114C
Legal - Construction





114D
Legal - Land, Equipment, and Existing Structures





115A
Public Buildings - Salaries





115B
Public Buildings - All other Direct36,90160060055038,699700
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





119APUBLICPolice and Communications - Salaries881,423886,001531,831567,729521,294510,867
119BSAFETYPolice and Communications - All other Direct198,616150,965133,526114,42543,80790,352
119C
Police and Communications - Construction





119D
Police and Communications - Land, Equipment and Existing Structures14,296
111,93610,98052,04852,869
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 - Salaries36,17855,96139,61436,37834,51733,304
122B
Fire - All other Direct15,45570,83442,24852,69262,41317,400
122C
Fire - Construction





122D
Fire - Land, Equipment, and Existing Structures9,83610,000
162,13521,18027,095
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
18,37223,00015,00016,00016,282
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





127ATRANSPORTraffic Engineering - Salaries





127BTATIONTraffic Engineering - All other Direct





127C
Traffic Engineering - Construction





127D
Traffic Engineering - Land, Equipment, and Existing Structures





128A
Streets and Highways - Salaries274,620295,186223,111206,373214,578208,718
128B
Streets and Highways - All other Direct47,96879,374142,339136,636126,86577,668
128C
Streets and Highways - Construction95,450




128D
Streets and Highways - Land, Equipment and Existing Structures
81,699
2,95916,394
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 Direct16,10621,25652,79798,615153,91854,304
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





136AENVIRONSolid Waste - Salaries268,887113,22180,98178,05179,05976,015
136BMENTALSolid Waste - All other Direct273,428180,999160,574200,112166,758193,495
136CPROTECTIONSolid 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 - Salaries3538,2005008,2608,0008,000
138B
Cemeteries - All other Direct1,2045089,6501,0405,0303,592
138C
Cemeteries - Construction





138D
Cemeteries - Land, Equipment, and Existing Structures





139A
Environmental Protection - All Other - Salaries





139B
Environmental Protection - All Other - All other Direct





139C
Environmental Protection - All Other - Construction





139D
Environmental Protection All Other - Land, Equipment, and Existing Structures





140AECONOMICPlanning and Zoning - Salaries





140B& PHYSICALPlanning and Zoning - All other Direct





140CDEVELOPPlanning and Zoning - Construction





140D
Planning and Zoning - Land, Equipment, and Existing Structures





141A
Economic Development - Salaries





141B
Economic Development - All other Direct220,000485,733462,833624,209279,377236,203
141C
Economic Development - Construction





141D
Economic Development - Land, Equipment, and Existing Structures





142A
Community Development - Salaries





142B
Community Development - All other Direct424,285




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

6,810142,264450,911348,379
145C
Economic and Physical Development - All Other - Construction





145D
Economic and Physical Development - All Other - Land, Equipment, and Existing Structures





146AHUMANHealth - Salaries





146BSERVICESHealth - 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





153ACULTURE Recreation and Parks - Salaries99,30967,10342,48246,28841,64241,624
153BRECREATIONRecreation and Parks - All other Direct121,740118,980191,51087,27659,49224,505
153C
Recreation and Parks - Construction





153D
Recreation and Parks - Land, Equipment, and Existing Structures


4,085121,18615,473
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
10,00010,00010,00010,00010,000
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



36,47854,266
157C
Human Services - All Other - Construction





157D
Human Services - All Other - Land, Equipment, and Existing Structures





158AUTILITYWater and Sewer - Salaries477,206456,481498,859465,551499,244466,004
158B
Water and Sewer - All other Direct649,578351,524359,831434,735404,910453,154
158C
Water and Sewer - Construction160,492




158D
Water and Sewer - Land, Equipment, and Existing Structures10,347
23,875116,21550,12217,872
159A
Electric Power - Salaries389,052262,731243,665270,214245,993233,410
159B
Electric Power - All other Direct3,963,5843,611,8373,406,9983,011,0882,935,9532,990,855
159C
Electric Power - Construction491,507




159D
Electric Power - Land, Equipment, and Existing Structures
476,30026,439614249,352214,611
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





161BDEBTWater and Sewer - Debt Service Interest Payments9582,7634,9985,6788,4413,602
161DSERVICEWater and Sewer - Debt Service Principal Payments19,48851,09148,85652,51760,90352,726
162B
Electric - Debt Service Interest Payments2,3055,78511,2919,92316,050
162D
Electric - Debt Service Principal Payments45,76650,10970,86072,22772,26523,767
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 Payments42,05138,39520,67831,4916,83122,272
166D
All Other - Debt Service Principal Payments115,340108,228111,256235,549148,670135,470
167BPENSIONDirect Benefit Program - Pension Fund operated by the Unit





168BFRINGEFringe Benefits Unallocated - (B)





169B
Separation Allowance - Law Enforcement Officers -(B)60,122




170B
Separation Allowance - Other Employees - (B)





171B
Supplemental Retirement Income Plan for Law Enforcement Officers - (B)28,21426,81936,17942,60945,17521,834
172B
Fringe Benefits Other - (B)





173A
Multi-County Library District, County, or Other Municipality Authority





173BINTERGOVMulti-County Library District, County, or Other Municipality (Item number)





173CEXPENDMulti-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 6Current Year Levy Excluding Motor Vehicles920,951796,703935,178545,592576,629584,687
180 OTHERCurrent Year Levy Motor Vehicles Only120,803115,845111,585112,35996,48193,336
181 DATAUncollected Taxes - Current Year's Levy - Excluding Motor Vehicles173,257117,289182,88058,91162,98050,446
182
Uncollected Taxes - Current Year's Levy - Motor Vehicles32,80433,86733,65232,15019,77919,425
183
Percentage of Taxes Collected - Current Year All Property80.2283.4479.3186.1687.7089.69
184
Percentage of Taxes Collected - Current Year - Excluding Motor Vehicles81.1985.2880.4489.2089.0891.37
185
Percentage of Taxes Collected - Current Year - Motor Vehicles72.8570.7769.8471.3979.5079.19
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





189APART 7Cash on Hand and in Bank, and Securities - Held in Debt Service Fund





189BCASH &Cash on Hand and in Bank, and Securities - Construction Bond Fund - Unexpended bond proceeds





189CINVESTCash on Hand and in Bank, and Securities - All Other1,574,6921,782,0032,015,7521,874,2581,995,5802,379,485
190A PARTAppropriations made during the fiscal year pursuant to subsections b (1- 7)





190B 8Expenditures 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.





194APART 9Amounts - Total Revenues and other financing sources per audit9,369,4678,410,5338,540,3218,663,3778,235,3717,831,673
194BFISCALAmounts - Subtract proceeds of refunding debt





194CSUMMARYAmounts - Subtract interfund transfers in56,30530,000170,732607,464233,227189,500
194D
Amounts - Net Revenues per AFIR9,313,1628,380,5338,369,5898,055,9138,002,1447,642,173


Calculated amount9,313,1628,380,5338,369,5898,055,9138,002,1447,642,173


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference





195A
Amounts - Total Expenditures and other financing sources per audit10,122,7178,644,1318,186,7768,829,5318,494,6437,762,927
195B
Amounts - Subtract payments to refunding debt escrow agent





195C
Amounts - Subtract interfund transfers out56,30530,000170,732607,464233,227189,500
195D
Amounts Net Expenditures per AFIR10,066,4128,614,1318,016,0448,222,0678,261,4167,573,427


Calculated amount10,066,4128,614,1318,016,0448,222,0678,261,4167,573,427


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference















PART 10















950
Name of Official SignatoryKATHY PITTMAN


951
Title of OfficialACTING FINANCE OFFICER


952
Date Certified01/06/200907/22/200801/10/2007


953
Person to ContactALAN THOMPSON


954
Title of Person to ContactCPA


955
Telephone Number910-642-2109


956
Facsimile Number910-642-5958






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Key Ratios and Operations Statistics of Water and Sewer Systems for



Town of Red Springs













200820072006200520042003








Population
3,5093,4973,4693,4503,4473,461
Population Group
Electric 2,500 to 9,999 Electric 2,500 to 9,999 Electric 2,500 to 9,999 Electric 2,500 to 9,999 Electric 2,500 to 9,999 Electric 2,500 to 9,999
Total Operating Revenues
$883,699831,781939,151918,428885,690938,445
Total Operating Revenues Per Capita
$252238271266257271
Group Weighted Average Revenues Per Capita459448428419404402
State Weighted Average Revenues Per Capita364367356331308295








% to Total Operating Revenues






Operating Expenses
127.51%99.47%93.50%100.56%106.97%125.66%
Group Weighted Average
91.63%92.26%96.27%96.60%95.13%94.80%
State Weighted Average
86.74%82.44%81.55%85.60%89.13%90.84%








Operating Margin
-27.51%0.53%6.50%-0.56%-6.97%-25.66%
Group Weighted Average
8.37%7.74%3.73%3.40%4.87%5.20%
State Weighted Average
13.26%17.56%18.45%14.40%10.87%9.16%








Operating Transfers In/(out)
0.00%0.00%-0.33%-3.65%0.40%-3.14%
Group Weighted Average
-9.00%-5.05%-5.82%-4.73%-3.32%-8.90%
State Weighted Average
3.96%-0.78%-0.58%-0.79%-1.21%-0.99%








Net Income before capital contributions
-27.44%0.26%5.72%-4.76%-7.44%-29.81%
Group Weighted Average
3.24%3.60%-2.93%0.72%-2.03%-4.48%
State Weighted Average
13.45%11.89%9.65%8.63%2.88%0.31%








Key Ratios and Cash Flow














Quick Ratio
0.590.581.101.123.505.62
Group Weighted Average
2.372.642.192.442.412.86
State Weighted Average
2.952.902.821.812.763.04








Days Sales in Receivables
55.655.070.862.691.281.0
Group Weighted Average
48.250.155.556.764.871.7
State Weighted Average
55.359.957.859.965.760.0








Days Cash on Hand
34.323.519.723.240.378.1
Group Weighted Average
217.5213.5174.3171.2183.7222.8
State Weighted Average
457.8497.5458.0423.5407.9414.8








Cash flow from Operations
$56,87569,26664,19142,881-16,940-8,528








Debt to Equity
0.000.010.040.060.040.07
Group Weighted Average
0.150.140.160.150.140.16
State Weighted Average
0.560.550.520.520.520.50








Debt per Capita
51126402843
Group Weighted Average
360337367349331349
State Weighted Average
1,1361,091989929855852








Capital Expenditures:
200820072006200520042003


$170,839023,875116,21550,12217,872










2002200120001999



$00024,394









Capital Contributions: Excluded from income above
$94,93620,000-8,200128,564485,895137,620
















Operating Statistics














Estimated population of the areas served Water01,359NANANANA
Estimated population of the areas served Sewer01,232NANANANA








Number of Gallons of Water Processed (000) omitted0114,819NANANANA
Number of Gallons of Sewage Processed (000) omitted0100,539NANANANA








Number of Gallons of Water Billed (000) omitted86,631114,819NANANANA
Number of Gallons of Sewage Billed (000) omitted22,226100,539NANANANA








Ratio of Water Billed to Water Processed
1.00000NANANANA
Ratio of Sewage Billed to Sewage Processed
1.00000NANANANA








Total Revenue from Water Sales411,601352,050NANANANA
Total Revenue from Sewage Sales171,092503,273NANANANA








Water Revenue per 1000 gallons of Sales

259.05077NANANANA
Sewage Revenue per 1000 gallons of Sales

408.50081NANANANA








Group Average Sales per thousand Gallons Water$26,467.24286$36.77508NANANANA
Group Average Sales per thousand Gallons Sewage$23,894.52953$53.71457NANANANA








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








Residential Water Sales per thousand Gallons$4.720053.88529NANANANA
Residential Sewage Sales per thousand Gallons$7.593525.16250NANANANA








Water Sales per thousand Gallons outside Municipal Limits
0.90006NANANANA
Sewage Sales per thousand Gallons outside Municipal Limits

NANANANA








Total Water Sales per thousand gallons for Redistribution$0.000000.00000NANANANA
Total Sewage Sales per thousand gallons for Redistribution$0.000000.00000NANANANA




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Key Ratios of Electric Systems for The




Town of Red Springs













200820072006200520042003








Population
3,5093,4973,4693,4503,4473,461
Power Agency Group
N.C. Easterrn Municipal Power Agency
Total Operating Revenues
$4,331,9164,115,7294,113,5043,729,1913,631,4583,629,213
Group Weighted Average
23,671,34722,937,38121,737,04119,645,81819,658,47519,102,654








% to Total Operating Revenues






Power Purchases
74.9%77.3%73.5%70.5%71.3%68.7%
Group Weighted Average
80.0%81.0%81.5%80.3%79.6%79.5%








Other Operating Expenses
25.6%17.4%15.9%18.2%17.4%24.1%
Group Weighted Average
16.7%15.9%16.3%17.5%16.8%16.5%








Operating Margin
-0.5%5.2%10.6%11.3%11.3%7.2%
Group Weighted Average
3.3%3.1%2.1%2.2%3.6%4.0%








Operating Transfers In/(out)
0.0%-0.7%-4.1%-15.4%-4.4%-4.4%
Group Weighted Average In/(out)
-1.9%-2.4%-1.7%-2.4%-2.3%-2.0%








Net Income
0.0%5.5%7.4%-3.8%7.8%3.4%
Group Weighted Average
1.9%1.3%0.7%0.4%1.7%2.4%








Key Ratios and Cash Flow














Quick Ratio
4.05.05.55.05.76.5
Group Weighted Average
2.625.02.93.23.53.4








Coverage Ratio
1.031.061.141.141.151.16
Group Weighted Average
1.081.071.061.051.081.09








Days Sales in Receivables
56.753.265.859.752.470.6
Group Weighted Average
42.641.642.343.744.942.0








Days Cash on Hand
55.599.8124.8140.5204.4207.6
Group Weighted Average
68.862.772.787.990.091.3








Cash flow from Operations
$170,720377,856311,464388,377343,806383,631








Capital Expenditures:
$491,507476,30026,439614249,352214,611


















200820072006200520042003
Capital Contributions: Excluded from Income Above
$000000








Operating Transfers to the General Fund as a % of GF Revenues
0.00%0.00%6.25%23.46%6.61%7.04%










20022001200019991998


#VALUE!#VALUE!318.00%7.02%7.31%








Gross Electric Fund Assets as Cost
$4,163,8704,665,7793,196,0633,169,6243,126,2102,919,658
Estimated Tax Loss from Municipal Ownership of Utility
$25,816$28,92821,09420,92019,69518,394
Tax Rate Equivalent
0.01630.01790.01230.01940.01820.0171








Operating Transfers to the General Fund as a % of Gross Fixed Assets
0.00%0.00%5.25%18.11%5.12%5.48%








Operating Transfers to the General Fund as a Tax Rate Equivalent
0.00000.00000.09740.53270.14760.1490








Tax Rate Adjusted for Assessed to Sales Ratio
0.55630.56090.64220.59780.57070.5662








Tax Rate Adjusted Excluding Transfers
0.55630.56090.73961.13050.71830.7153








Weighted Average Group Rate Adjusted
0.33230.36330.37190.37680.38120.3776








Weighted Average Non Electric Adjusted Rate
0.24380.26100.29210.30930.33540.3376




Financial Graphs and Comparisons


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Analysis of Available Fund Balance:  General Fund

20042005200620072008
Unit's FBA %2.12%9.85%14.72%10.71%8.78%
Group average FBA %38.97%38.19%39.10%37.68%39.94%
State average Electric/Non Electric Group FBA %36.12%36.30%35.69%34.02%35.36%
State average FBA %36.35%36.76%38.97%36.37%36.20%






Municipal Population Group: Electric 2,500 to 9,999

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Analysis of Property Tax

20042005200620072008
Municipality87.70%86.16%79.31%83.44%80.22%
Pop. Group95.36%95.70%95.42%96.00%96.74%
Statewide97.31%97.42%97.55%97.59%97.97%






Municipal Population Group: Electric 2,500 to 9,999






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Analysis of General Obligation Debt

20042005200620072008
Municipality40000
Pop. Group159162162149152
Statewide548505495478456






Municipal Population Group: 2,500 to 4,999






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Analysis of Revenue

20042005200620072008
Property Tax$205212274268297
Utility1,3101,3471,4571,4151,486
Sales Tax162171176190196
Sales & Services171181177190273
Intergovernmental341283220253322
Debt Proceeds5590422327
Other Miscellaneous7751675753
Total$2,3212,3352,4132,3962,654

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Analysis of Revenue for Fiscal 2008











2008
2008
CategoryRevenue
Per Capita
Property Tax$1,042,108
$297
Water/Sewer883,699
252
Electric4,331,916
1,235
Other Utilities0
0
Sales Tax691,580
196
Sales & Services956,418
273
Intergovernment1,128,151
322
Debt Proceeds95,000
27
Miscellaneous184,290
53
Total$9,313,162
$2,654





Municipal Population Group: Electric 2,500 to 9,999





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Analysis of Expenditures by Function for Fiscal 2008











2008
2008
CategoryExpenditures
Per Capita
General Government$611,248
$174
Water/Sewer1,297,623
370
Electric4,844,143
1,380
Other Utilities0
0
Debt Service225,908
64
Transportation434,144
124
Public Safety1,244,140
355
Other1,409,206
402
Total$10,066,412
$2,869





Municipal Population Group: Electric 2,500 to 9,999





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Analysis of Expenditures by Object for Fiscal 2008






2008
2008
CategoryExpenditures
Per Capita
Salaries & Wages$2,762,841
$787
Water/Sewer Capital170,839
49
Electric Capital491,507
140
Other Capital135,079
38
Other Operating6,506,146
1,855
Total$10,066,412
$2,869





Municipal Population Group: Electric 2,500 to 9,999






Last Updated 8/27/2009 7:59:41 AM