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

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

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

Municipality Revenues and Expenditures Financial Profile Go to top of page			2011	2010	2009	2008	2007	2006
	Revenues by Source
		Property Tax	$19,766	21,502	20,819	21,235	21,154	22,483
		Utility	137,577	188,192	180,252	145,612	265,229	151,185
		Sales Tax	7,713	8,051	9,344	10,519	11,445	11,423
		Sales & Services	1,940	2,131	1,731	1,856	2,531	1,831
		Intergovernmental	14,590	14,579	14,131	13,206	12,762	11,528
		Debt Proceeds	-	-	3,563	714	425	124
		Other Miscellaneous	2,290	6,370	6,064	7,222	11,079	3,435
		Total	$183,876	240,825	235,904	200,364	324,625	202,009

	Expenditures by Function
		Utility	$0	138,363	132,623	142,167	207,604	164,554
		Debt Service	172,225	3,633	3,633	3,633	3,633	3,633
		Transportation	7,472	12,914	3,617	3,528	26,890	13,571
		General Government	30,273	31,579	38,032	28,447	30,279	37,492
		Public Safety	1,560	1,598	1,623	1,616	1,568	1,614
		Other	3,406	10,418	9,345	7,014	4,889	3,768
		Total	$214,936	198,505	188,873	186,405	274,863	224,632

	Expenditures by Object
		Salaries & Wages	$10,892	12,288	10,359	9,593	10,140	10,292
		Capital Outlay	-	769	10,768	4,830	24,212	18,970
		Other Operating + Debt Service	204,044	185,448	167,746	171,982	240,511	195,370
		Total	$214,936	198,505	188,873	186,405	274,863	224,632


	Per Capita Revenues by Source
		Property Tax	$180	244	237	244	243	255
		Utility	1,251	2,139	2,048	1,674	3,049	1,718
		Sales Tax	69	92	106	121	131	131
		Sales & Services	18	24	20	21	29	21
		Intergovernmental	133	166	161	152	147	131
		Debt Proceeds	-	-	40	8	5	1
		Other Miscellaneous	21	72	69	83	127	39
		Total	$1,672	2,737	2,681	2,303	3,731	2,296

	Per Capita Expenditures by Function
		Utility	$0	1,572	1,507	1,634	2,386	1,870
		Debt Service	1,566	41	41	42	42	41
		Transportation	68	147	41	41	309	154
		General Government	275	360	433	326	348	427
		Public Safety	14	18	18	19	18	18
		Other	31	118	106	81	56	43
		Total	$1,954	2,256	2,146	2,143	3,159	2,553

	Per Capita Expenditures by Object
		Salaries & Wages	$99	140	118	110	117	117
		Capital Outlay	-	9	122	56	278	216
		Other Operating	1,855	2,107	1,906	1,977	2,764	2,220
		Total	$1,954	2,256	2,146	2,143	3,159	2,553

	Population Group		No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below
		Number of Municipalites in Group	118	112	116	117	117	119
		Average Population In Group	264	256	261	260	259	260
		Town of Seven Springs Population	110	88	88	87	87	88
	Group Average Per Capita Revenues by Source
		Property Tax	888	614	450	506	464	472
		Utility	861	373	279	369	343	397
		Sales Tax	167	121	146	163	157	148
		Sales & Services	100	65	57	81	75	65
		Intergovernmental	465	442	569	536	462	330
		Debt Proceeds	46	640	29	35	23	242
		Other Miscellaneous	1,415	108	159	241	246	254
		Total	3,942	2,363	1,689	1,931	1,770	1,908

	Group Average Per Capita Expenditures by Function
		Utility	454	582	642	851	468	528
		Debt Service	318	181	71	134	82	175
		Transportation	154	162	114	204	145	154
		General Government	465	336	327	311	293	305
		Public Safety	432	278	234	254	212	239
		Other	737	910	258	348	482	291
		Total	2,560	2,449	1,646	2,102	1,682	1,692

	Group Average Per Capita Expenditures by Object
		Salaries & Wages	592	454	348	400	361	369
		Capital Outlay	383	1,108	627	816	449	501
		Other Operating	1,585	887	671	886	872	822
		Total	2,560	2,449	1,646	2,102	1,682	1,692


General Fund Go to top of page			2011	2010	2009	2008	2007	2006
	General Fund revenues		$46,130	52,420	54,812	52,087	57,899	49,699
	General Fund expenditures		46,344	60,142	56,250	44,238	67,259	60,078
	Operating transfers in		-	-	-	-	-	-
	Operating transfers out		-	-	-	-	-	32,545
	Capital leases and installment purchase proceeds		-	-	-	-	-	-
	Other items		-	-	-	8,708	-	-
	Excess of revenues and other sources over (under) expenditures and other uses		(214)	(7,722)	(1,438)	16,557	(9,360)	(42,924)

	Fund balance available (FBA):
		In dollars	$0	97,616	105,351	107,158	90,851	99,754
		FBA as a % of GF Net Expenditures:
		Unit's FBA %	0.00	162.31	187.29	242.23	135.08	107.70
		Group weighted average FBA %	119.64	120.75	124.89	116.82	119.65	123.14
		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
	Water/Sewer

	Combined financial results:
		Working capital	$174,373	216,554	154,627	106,033	99,398	40,476
		Quick ratio	16.28	34.07	17.42	16.74	38.87	4.21
		Net income	(119,560)	(38,672)	(40,245)	(77,653)	(29,016)	(67,837)
		Cashflow from operations	(24,864)	73,974	36,164	11,058	39,053	(7,566)
		Depreciation & Amortization Expense	88,714	88,714	88,714	88,593	88,138	88,138



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

		Population at July 1st of the Previous Year	110	88	88	87	87	88
		Population Group	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below
		Cash &Investments	$263,927	$288,914	$222,309	$187,054	$161,715	$139,732
		Investment Earnings	312	492	1,373	3,586	2,377	1,769
		Tax Rate Equivalent	0.0073	0.0114	0.0310	0.0834	0.0578	0.0421
		Tax Rate Equivalent Group weighted average	0.0020	0.0052	0.0140	0.0403	0.0513	0.0318
		Tax Rate Equivalent Statewide weighted average	0.0156	0.0247	0.0133	0.0524	0.0920	0.0573
		Latest year of Revaluation	2003	2003	2003	2003	2003	2003
		January 1, Prior Year Assessed Valuation	$4,297,724	4,322,907	4,433,997	4,298,920	4,114,423	4,205,402
		Tax Rate	0.5000	0.5000	0.5000	0.5000	0.5000	0.5000
		Tax Rate Group weighted average	0.2606	0.3115	0.2821	0.2676	0.3651	0.3049
		Tax Rate State Wide	0.4122	0.4090	0.4262	0.4238	0.4450	0.4321
		Assessment -to-Sales Ratio	99.47	82.67	82.81	87.95	90.83	94.52
		Assessment -to-Sales Ratio Group weighted average	101.92	100.94	86.15	87.73	75.64	81.67
		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	$4,320,623	5,229,112	5,354,422	4,887,914	4,529,806	4,449,219
		EffectiveTax Rate	0.4974	0.4134	0.4141	0.4398	0.4542	0.4726
		Group weighted average Effective Tax Rate	0.2656	0.3144	0.2430	0.2348	0.2762	0.2490
		Statewide weighted average Effective Tax Rate	0.4183	0.4020	0.3870	0.3752	0.3934	0.3987
		Percent Collected	87.3700	90.3100	87.5500	88.9100	89.6900	88.3600
		Percent Collected Group weighted average	97.49	95.46	95.87	96.32	97.25	97.71
		Percent Collected Statewide	97.59	97.36	97.34	97.56	97.58	97.55
		Percent Collected Excluding Motor Vehicles	89.65	92.62	89.09	89.62	91.01	90.63
		Percent Collected Excluding Motor Vehicles Group weighted average	97.80	96.03	96.70	97.12	97.74	98.29
		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	74.02	76.92	79.57	85.45	83.42	78.79
		Percent Collected Motor Vehicles Only Group weighted average	82.90	83.33	82.99	84.77	83.59	84.25
		Percent Collected Motor Vehicles Only Statewide weighted average	87.28	86.34	86.55	86.74	86.71	86.80
		Tax Uncollected	5,047	4,485	5,586	5,664	5,475	6,006
		Tax Rate Equivalent	0.1174	0.1037	0.1260	0.1318	0.1331	0.1428
		Dominant County: Wayne
	Debt Information
		Population Group	Under 500	Under 500	Under 500	Under 500	Under 500	Under 500
		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	479	591	161	155	201	217
		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	0.1881%	0.3447%	0.0782%	0.0794%	0.1282%	0.1208%
		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	$0	0	0	0	0	0
		--General Government	26,841	29,262	31,587	33,820	35,964	38,023
		Total*	$26,841	29,262	31,587	33,820	35,964	38,023
		* The total only includes the contracts that require Local Government Commission approval.
		Revenue Bond Debt	$0	0	0	0	0	0


Annual Financial Information Report Detail Go to top of page
Line	Section	Description	2011	2010	2009	2008	2007	2006
	Population at July 1st of the Previous Year Adjusted for Boundry Changes		110	88	88	87	87	88

1.5A	FISCAL	Governmental Activities Assets	263,020	278,923	304,148	311,584	312,471	377,583
1.5B	SUMMARY	Governmental Activities Liabilities	29,820	32,527	34,796	37,063	39,138	50,875
3.5A		Business Type Activities Assets	3,078,551	3,204,583	3,234,238	3,271,669	3,334,695	3,383,907
3.5B		Business Type Activities Liabilties	17,586	24,058	15,041	12,227	7,600	17,796
6.5A		Fiduciary Funds Assets
6.5B		Fiduciary Funds Liabilties
10.0	PART 2	Current Collections of Unit -Wide Levy	18,811	19,272	19,287	19,562	19,830	19,888
11.0	TAX	Current Collections of Special Tax Districts
12.0	REVENUES	Prior Years' Levy Collections	755	1,803	1,239	1,528	1,202	2,367
13.0		Penalties and Interest	200	427	293	145	122	228
14.0		Collections of Taxes Previously Written Off
15.0		Animal Tax
15.1		Solid Waste Disposal Tax
16.0		1% Local Government Option Sales Tax	3,817	3,775	3,781	3,829	4,073	4,216
17.0		1/2% Local Government Option Sales Tax (40)	2,044	2,096	2,224	2,408	2,664	2,571
18.0		1/2% Local Government Option Sales Tax (42)	1,864	1,962	2,205	2,392	2,646	2,556
18.5		1/2% Local Government Option Sales Tax (44)	-12	218	1,134	1,890	2,062	2,080
19.0		Privilege Licenses	150	190	50	150	100	200
19.2		Privilege -- All other privileges and pemits
20.0		Auto Licenses
21.0		Vehicle Tax for Public Transportation
22.0		Other Licenses						35
23.0		Local Occupancy Tax
24.0		Prepared Food Tax
25.0		911 Charges
26.0		Gross Short Term lease and Rental Tax
27.0	FEDERAL	Payments In Lieu of Taxes - Federal
28.0	INTERGOV	Equitable Sharing of Fed. Forfeited Prop.
29.0	REVENUES	General Government
30.0		Public Safety
31.0		Transportation - Streets
32.0		Transportation - All Other
33.0		Environmental Protection
34.0		Econ. & Phys. Dev. - Housing/Comm. Dev.
35.0		Econ. & Phys. Dev. - All Other
36.0		Human Services: Health, Mental Hlt & Hosp
37.0		Human Services: All Other
38.0		Culture & Recreation
39.0	STATE	Payments In Lieu of Taxes - State
40.0	INTERGOV	Unauthorized Substance Tax
41.0	REVENUES	Transitional Hold Harmless	1,859	1,579	616
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
44.0		Utility Franchise Tax	8,830	9,035	9,000	8,175	8,370	6,934
45.0		Beer and Wine Tax	118	37	111	110	106	97
46.0		Powell Bill	3,783	3,928	4,404	4,921	4,286	4,497
50.0		Court Fees - Facilities and Arrest Fees
51.0		General Government
52.0		Public Safety
53.0		Transportation - Streets
54.0		Transportation - All Other
55.0		Environmental Protection
56.0		Econ. & Phys. Dev. - Housing/Community Dev
57.0		Econ. & Phys. Dev. - All Other
58.0		Human Services -Health, Mental Health, Hosp
59.0		Human Services - All Other
60.0		Culture and Recreation
61.0	LOCAL	Payments in Lieu of Taxes - Local
62.0	INTERGOV	General Government
63.0	REVENUES	Public Safety
64.0		Transportation - Streets
65.0		Transportation - All Other
66.0		Environmental Protection
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
71.0	PERMITS	Building Permits
72.0	& FEES	Inspection Fees
72.1		Amusements licensing and permit taxes
73.0		Other Permits
74.0	SALES &	Parking Revenues
75.0	SERVICES	Rents and Royalties	1,931	2,006	1,731	1,856	2,531	1,831
76.0		Airport
77.0		Fire Protection Charges
78.0		Solid Waste
79.0		Ambulance and Rescue Squad Charges
80.0		Cemeteries
81.0		Recreation Service Revenues
82.0		Library Service Revenues
83.0		Other Cultural and Rec Service Revenues	9	125
84.0		Mass Transit - City Operated
85.0		Other Sales and Services
86.0	UTILITY	Water and Sewer Charges	137,577	188,192	180,252	145,612	265,229	151,185
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	312	492	1,373	3,586	2,377	1,769
91.0		Special Assessments
92.0		Private Contributions and Donations	1,828	5,688	4,641	3,486	3,602	1,431
93.0		Sales of Materials and Fixed Assets					5,000
94.0		Sale of Real Property
95.0		Nongovt Contr For Streets & Traffic Signals
96.0		ABC Mixed Drink Surcharge
97.0		ABC Profit Distribution
98.0		Other Miscellaneous Revenues			3,563	714	425	124
99.0		Proceeds of Sale of Bonds and Notes
100.0		Proceeds of Capital Leases/Install Purchases
101.0		Other				8,708
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			125	525
106.0		Deposits Other than Utility					200
107.0		Prepaid Taxes				113	2	-18
108.0		Prepaid Privilege Licenses
109A	PART 4	Governing Body - Salaries & Wages	2,300	2,300	750
109B	GENERAL	Governing Body - Other Direct	19,381	17,504		2,175	2,175	2,300
109C	GOVT	Governing Body - Construction
109D		Governing Body - Purchase of P,P&E		769
110A		Administration - Salaries & Wages	8,592	9,988	9,609	9,593	10,140	10,292
110B		Administration - Other Direct
110C		Administration - Construction
110D		Administration - Purchase of P,P&E
111A		Elections - Salaries & Wages
111B		Elections - Other Direct		1,018		1,318
111C		Elections - Construction
111D		Elections - Purchase of P,P&E
112A		Finance - Salaries & Wages
112B		Finance - Other Direct
112C		Finance - Construction
112D		Finance - Purchase of P,P&E
113A		Taxes - Salaries & Wages
113B		Taxes - Other Direct
113C		Taxes - Construction
113D		Taxes - Purchase of P,P&E
114A		Legal - Salaries & Wages
114B		Legal - Other Direct
114C		Legal - Construction
114D		Legal - Purchase of P,P&E
115A		Public Buildings - Salaries & Wages
115B		Public Buildings - Other Direct
115C		Public Buildings - Construction
115D		Public Buildings - Purchase of P,P&E
116A		Court Facilities - Salaries & Wages
116B		Court Facilities - Other Direct
116C		Court Facilities - Construction
116D		Court Facilities - Purchase of P,P&E
117A		Central Services - Salaries & Wages
117B		Central Services - Other Direct
117C		Central Services - Construction
117D		Central Services - Purchase of P,P&E
118A		Gen. Govt. All Other - Salaries & Wages
118B		Gen. Govt. All Other - Other Direct			16,905	15,361	17,274	16,214
118C		Gen. Govt. All Other - Construction						8,686
118D		Gen. Govt. All Other - Purchase of P,P&E			10,768		690
119A	PUBLIC	Police & Comm - Traffic Control - Salaries and Wages
119B	SAFETY	Police & Comm - Traffic Control - Other Direct
119C		Police & Comm - Traffic Control - Construction
119D		Police & Comm - Traffic Control - Purchase of P,P&E
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
122B		Fire - Other Direct	1,560	1,598	1,623	1,616	1,568	1,614
122C		Fire - Construction
122D		Fire - Purchase of P,P&E
123A		Inspectors - Salaries & Wages
123B		Inspectors - Other Direct
123C		Inspectors - Construction
123D		Inspectors - Purchase of P,P&E
124A		Rescue Units - Salaries & Wages
124B		Rescue Units - Other Direct
124C		Rescue Units - Construction
124D		Rescue Units - Purchase of P,P&E
125A		Animal Control - Salaries & Wages
125B		Animal Control - Other Direct
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
128B		Streets and Highways - Other Direct	7,472	12,914	3,617	3,403	3,368	3,287
128C		Streets and Highways - Construction
128D		Streets and Highways - Purchase of P,P&E					23,522	10,284
129A		Street Cleaning - Salaries & Wages
129B		Street Cleaning - Other Direct
129C		Street Cleaning - Construction
129D		Street Cleaning - Purchase of P,P&E
130A		Powell Bill - Salaries & Wages
130B		Powell Bill - Other Direct				125
130C		Powell Bill - Construction
130D		Powell Bill - Purchase of P,P&E
131A		Parking Facilities - Salaries & Wages
131B		Parking Facilities - Other Direct
131C		Parking Facilities - Construction
131D		Parking Facilities - Purchase of P,P&E
132A		Mass Transit - City - Salaries & Wages
132B		Mass Transit - City - Other Direct
132C		Mass Transit - City - Construction
132D		Mass Transit - City - Purchase of P,P&E
133B		Mass Transit - Private - Other Direct
134A		Airport - Salaries & Wages
134B		Airport - Other Direct
134C		Airport - Construction
134D		Airport - Purchase of P,P&E
135A		Transpor. All Other - Salaries & Wages
135B		Transpor. All Other - Other Direct
135C		Transpor. All Other - Construction
135D		Transpor. All Other - Purchase of P,P&E
136A	ENVIRON	Solid Waste - Salaries & Wages
136B	MENTAL	Solid Waste - Other Direct
136C	PROTECTION	Solid Waste - Construction
136D		Solid Waste - Purchase of P,P&E
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
138B		Cemeteries - Other Direct
138C		Cemeteries - Construction
138D		Cemeteries - Purchase of P,P&E
139A		Environ. All Other - Salaries & Wages
139B		Environ. All Other - Other Direct
139C		Environ. All Other - Construction
139D		Environ. All Other - Purchase of P,P&E
140A	ECONOMIC	Planning & Zoning - Salaries & Wages
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
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
153B	RECREATION	Recreation & Parks - Other Direct		207	1,400	694
153C		Recreation & Parks - Construction
153D		Recreation & Parks - Purchase of P,P&E
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	515	585	613	496
155C		Museums - Construction
155D		Museums - Purchase of P,P&E
156A		Libraries - Salaries & Wages
156B		Libraries - Other Direct	108	3,510	3,768	3,605	4,889	3,768
156C		Libraries - Construction
156D		Libraries - Purchase of P,P&E
157A		Cult. & Recr. All Other - Salaries & Wages
157B		Cult. & Recr. All Other - Other Direct	2,783	6,116	3,564	2,219
157C		Cult. & Recr. All Other - Construction
157D		Cult. & Recr. All Other - Purchase of P,P&E
158A	UTILITY	Water & Sewer - Salaries & Wages
158B		Water & Sewer - Other Direct		138,363	132,623	137,337	207,604	164,554
158C		Water & Sewer - Construction
158D		Water & Sewer - Purchase of P,P&E				4,830
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	168,592
161D	SERVICE	Water & Sewer - Principal
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	1,211	1,308	1,400	1,489	3,633	3,633
166D		All Other - Principal	2,422	2,325	2,233	2,144
167B	PENSION	Direct Benefit Program - Other Direct
168B	FRINGE	Fringe Benefits Unallocated
169B		Separation Allowance - Law Enforcement
170B		Separation Allowance - Other Employees
171B		Supplemental Retirement - Law Enforcement
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	18,385.	18,200.00	18,457.00	18,231.00	18,278.00	18,208.00
180.0		Current year's levy -- Motor vehicles (only)	3,145.	3,141.00	3,573.00	3,772.00	3,831.00	4,299.00
181.0	PART 6	Uncollected Taxes - Current Year's Levy Except Mot Veh	1,902.	1,344.00	2,013.00	1,892.00	1,644.00	1,707.00
182.0	OTHER	Uncollected Taxes - CY Levy -Motor Vehicles	817	725	730	549	635	912
183.0	DATA	Percentage of Taxes Collected - All Property %	87.37	90.31	87.55	88.91	89.69	88.36
184.0	DATA	Percentage of Taxes Collected - Exclude Motor Vehicles%	89.65	92.62	89.09	89.62	91.01	90.63
185.0		Percentage of Taxes Collected - Motor Vehicles %	74.02	76.92	79.57	85.45	83.42	78.79
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	263,927	288,914	222,309	187,054	161,715	139,732
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	183,876	240,825	235,904	209,072	324,625	202,009
194B	FISCAL	Amount - Subtract Refunding Bond Proceeds
194C	SUMMARY	Amount - Subtract Interfund Transfers In
194D		Amount - Net Revenues	183,876	240,825	235,904	209,072	324,625	202,009
		Calculated amount	183,876	240,825	235,904	209,072	324,625	202,009
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference
195A		Amount - Total Expenditures	214,936	198,505	188,873	186,405	274,863	224,632
195B		Amount - Subtract Pymts. to Refunded Debt Agent
195C		Amount - Subtract Interfund Transfers Out
195D		Amount - Net Expenditures	214,936	198,505	188,873	186,405	274,863	224,632
		Calculated amount	214,936	198,505	188,873	186,405	274,863	224,632
		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					72
402A	Sewer	Amount processed and/or purchased in units Water
402B	Operations	Amount processed and/or purchased in units Sewer	11	13	11	9,726	11,899
403A		Total amount billed in units - Water
403B		Total amount billed in units - Sewer	8	13	11	9,035	11,899
404A		Of the total in 403A above how many units were Residential W
404B		Of the total in 403B above how many units were Residential S
405A		Of the total in 403 above, how many units were Outside Muni W
405B		Of the total in 403 above, how many units were Outside Muni S
406A		Of the total in 405A above how many units were Residential W
406B		Of the total in 405B above how many units were Residential S
407A		Of the total in 403A, how many units were sold for redistribution
407B		Of the total in 403B how many unit were delivered in bulk
408A		Dollars related to 403A above	110,307	192,480	173,529	155,012	262,207
408B		Dollars related to 403B above
409A		Dollars related to 404A above	23,471	23,271	21,689	41,853	38,675
409B		Dollars related to 404B above
410A		Dollars related to 405A above
410B		Dollars related to 405B above
411A		Dollars related to 406A above
411B		Dollars related to 406B above
412A		Dollars related to 407A above
412B		Dollars related to 407B above
421A		Number of residential accounts billed - Water	70	71	72	72
421B		Number of residential accounts billed - Sewer
422A		Number of non-residential & bulk accounts billed - Water	7	6	6	6
422B		Number of non-residential & bulk accounts billed - Sewer	2	2	2	2	2	2
423A		Estimated percentage of accounts outside of municipal limits



950.0		Official	Karen Webster
951.0		Title	Town Clerk
952.0		Date	11/02/2011	11/01/2010	11/09/2009	10/01/2008	10/22/2007	10/31/2006
953.0		Contact	Connie H. Huffman
954.0		Title	CPA
955.0		Phone	252-568-2128
956.0		Fax	252-568-2201
957.0		E-Mail:

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

	2011	2010	2009	2008	2007	2006

Population	110	88	88	87	87	88
Population Group	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below
Total Operating Revenues	$0	0	0	0	0	0
Total Operating Revenues Per Capita	$0	0	0	0	0	0
Group Weighted Average Revenues Per Capita	48	310	269	257	249	393
State Weighted Average Revenues Per Capita	7	272	252	255	255	249

% to Total Operating Revenues
Operating Expenses	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Group Weighted Average	131.88%	116.25%	115.69%	122.36%	121.19%	98.70%
State Weighted Average	91.62%	83.21%	87.12%	84.06%	80.00%	79.32%

Operating Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Group Weighted Average	-31.88%	-16.25%	-15.69%	-22.36%	-21.19%	1.30%
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	19.34%	2.68%	5.24%	4.08%	4.88%	3.52%
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	0.62%	0.13%	2.45%	0.25%	2.36%	1.71%
State Weighted Average	52.67%	1.55%	2.65%	3.15%	1.86%	2.84%

Net Income before capital contributions	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Group Weighted Average	368.53%	93.85%	67.24%	-15.32%	123.72%	65.04%
State Weighted Average	643.66%	15.82%	-9.92%	18.20%	25.61%	24.40%

Key Ratios and Cash Flow

Quick Ratio	16.28	34.07	17.42	16.74	38.87	4.21
Group Weighted Average	3.97	3.19	2.91	2.96	2.94	2.93
State Weighted Average	4.02	3.21	2.82	2.96	2.91	2.83

Days Sales in Receivables	8.0	N/A	N/A	N/A	N/A	N/A
Group Weighted Average	7.3	48.7	52.0	51.2	94.9	57.3
State Weighted Average	1.2	57.9	58.5	56.7	61.6	59.8

Days Cash on Hand	0.0	0.0	0.0	0.0	0.0	0.0
Group Weighted Average	-68.1	576.5	644.3	551.0	477.8	463.6
State Weighted Average	-16.4	614.6	560.8	588.9	647.0	571.9

Cash flow from Operations	-$24,864	73,974	36,164	11,058	39,053	-7,566

Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00
Group Weighted Average	0.09	0.07	0.06	0.07	0.08	0.11
State Weighted Average	0.22	0.59	0.54	0.54	0.55	0.55

Debt per Capita	0	0	0	0	0	0
Group Weighted Average	60	322	249	235	243	395
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
	$0	0	0	0

Capital Contributions: Excluded from income above	$0	0	0	0	0	0


Operating Statistics

Estimated population of the areas served Water	0	0	0	0	0	NA
Estimated population of the areas served Sewer	0	0	0	0	72	NA

Number of Gallons of Water Processed (000) omitted	0	0	0	0	0	NA
Number of Gallons of Sewage Processed (000) omitted	11	13	11	9,726	11,899	NA

Number of Gallons of Water Billed (000) omitted	0	0	0	0	0	NA
Number of Gallons of Sewage Billed (000) omitted	8	13	11	9,035	11,899	NA

Ratio of Water Billed to Water Processed						NA
Ratio of Sewage Billed to Sewage Processed	0.65562	0.94697	1.02727	0.92895	1.00000	NA

Total Revenue from Water Sales	0	0	0	0	0	NA
Total Revenue from Sewage Sales	110,307	192,480	173,529	155,012	262,207	NA

Water Revenue per 1000 gallons of Sales						NA
Sewage Revenue per 1000 gallons of Sales					3,641.76389	NA

Group Average Sales per thousand Gallons Water	$0.00008	$11.89213	$19.73896	$3,526.31757	$3,934.54117	NA
Group Average Sales per thousand Gallons Sewage	$0.00012	$30.88977	$26.02486	$3,520.56518	$4,077.93505	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						NA
Residential Sewage Sales per thousand Gallons	$10,249.34498	10,342.66667	10,844.50000	17.41698	13.91187	NA

Water Sales per thousand Gallons outside Municipal Limits						NA
Sewage Sales per thousand Gallons outside Municipal Limits						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 %	135.08%	242.23%	187.29%	162.31%	0.00%
Group average FBA %	119.65%	116.82%	124.89%	120.75%	119.64%
State average Electric/Non Electric Group FBA %	37.39%	36.66%	37.89%	38.71%	26.68%
State average FBA %	36.54%	36.35%	119.65%	37.47%	29.01%

Municipal Population Group: No Electric 499 and Below

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2007 2008 2009 2010 2011

Municipality 89.69% 88.91% 87.55% 90.31% 87.37%

Pop. Group 97.25% 96.32% 95.87% 95.46% 97.49%

Statewide 97.58% 97.56% 97.34% 97.36% 97.59%

Municipal Population Group: No Electric 499 and Below

	2007	2008	2009	2010	2011
Municipality	89.69%	88.91%	87.55%	90.31%	87.37%
Pop. Group	97.25%	96.32%	95.87%	95.46%	97.49%
Statewide	97.58%	97.56%	97.34%	97.36%	97.59%

Municipal Population Group: No Electric 499 and Below

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2007 2008 2009 2010 2011

Municipality 0 0 0 0 0

Pop. Group 201 155 161 591 479

Statewide 478 456 455 449 450

Municipal Population Group: Under 500

	2007	2008	2009	2010	2011
Municipality	0	0	0	0	0
Pop. Group	201	155	161	591	479
Statewide	478	456	455	449	450

Municipal Population Group: Under 500

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2007 2008 2009 2010 2011

Property Tax $243 244 237 244 180

Utility 3,049 1,674 2,048 2,139 1,251

Sales Tax 131 121 106 92 69

Sales & Services 29 21 20 24 18

Intergovernmental 147 152 161 166 133

Debt Proceeds 5 8 40 0 0

Other Miscellaneous 127 83 69 72 21

Total $3,731 2,303 2,681 2,737 1,672

	2007	2008	2009	2010	2011
Property Tax	$243	244	237	244	180
Utility	3,049	1,674	2,048	2,139	1,251
Sales Tax	131	121	106	92	69
Sales & Services	29	21	20	24	18
Intergovernmental	147	152	161	166	133
Debt Proceeds	5	8	40	0	0
Other Miscellaneous	127	83	69	72	21
Total	$3,731	2,303	2,681	2,737	1,672

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2011
2011

Category Revenue
Per Capita

Property Tax $19,766
$180

Water/Sewer 0
0

Electric 137,577
1,251

Other Utilities 0
0

Sales Tax 7,713
69

Sales & Services 1,940
18

Intergovernment 14,590
133

Debt Proceeds 0
0

Miscellaneous 2,290
21

Total $183,876
$1,672

Municipal Population Group: No Electric 499 and Below

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2011
2011

Category Expenditures
Per Capita

General Government $30,273
$275

Water/Sewer 2,783
25

Electric 0
0

Other Utilities -2,783
-25

Debt Service 172,225
1,566

Transportation 7,472
68

Public Safety 1,560
14

Other 3,406
31

Total $214,936
$1,954

Municipal Population Group: No Electric 499 and Below

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2011
2011

Category Expenditures
Per Capita

Salaries & Wages $10,892
$99

Water/Sewer Capital 0
0

Electric Capital 0
0

Capital Outlay 0
0

Other Operating 204,044
1,855

Total $214,936
$1,954

Municipal Population Group: No Electric 499 and Below

Last Updated 2/5/2012 2:29:13 PM



	2011	2011
Category	Revenue	Per Capita
Property Tax	$19,766	$180
Water/Sewer	0	0
Electric	137,577	1,251
Other Utilities	0	0
Sales Tax	7,713	69
Sales & Services	1,940	18
Intergovernment	14,590	133
Debt Proceeds	0	0
Miscellaneous	2,290	21
Total	$183,876	$1,672

Municipal Population Group: No Electric 499 and Below

North CarolinaDepartment of State TreasurerFinancial InformationTown of Seven Springs

Financial Graphs and Comparisons

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