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			2009	2008	2007	2006	2005	2004
	Revenues by Source
		Property Tax	$20,819	21,235	21,154	22,483	21,433	22,331
		Utility	180,252	145,612	265,229	151,185	-	-
		Sales Tax	9,344	10,519	11,445	11,423	11,613	10,397
		Sales & Services	1,731	1,856	2,531	1,831	1,907	1,981
		Intergovernmental	14,131	13,206	12,762	11,528	31,802	2,683,175
		Debt Proceeds	-	-	-	-	40,000	-
		Other Miscellaneous	9,627	16,644	11,504	3,559	88,885	46,246
		Total	$235,904	209,072	324,625	202,009	195,640	2,764,130

	Expenditures by Function
		Utility	$132,623	142,167	207,604	164,554	-	-
		Debt Service	3,633	3,633	3,633	3,633	-	-
		Transportation	3,617	3,528	26,890	13,571	13,083	-
		General Government	38,032	28,447	30,279	37,492	95,440	31,229
		Public Safety	1,623	1,616	1,568	1,614	1,624	1,624
		Other	9,345	7,014	4,889	3,768	89,395	2,973,617
		Total	$188,873	186,405	274,863	224,632	199,542	3,006,470

	Expenditures by Object
		Salaries & Wages	$10,359	9,593	10,140	10,292	10,679	10,098
		Capital Outlay	10,768	4,830	24,212	18,970	64,833	2,954,338
		Other Operating + Debt Service	167,746	171,982	240,511	195,370	124,030	42,034
		Total	$188,873	186,405	274,863	224,632	199,542	3,006,470


	Per Capita Revenues by Source
		Property Tax	$237	244	243	255	246	260
		Utility	2,048	1,674	3,049	1,718	-	-
		Sales Tax	106	121	131	131	133	120
		Sales & Services	20	21	29	21	22	23
		Intergovernmental	161	152	147	131	366	31,200
		Debt Proceeds	-	-	-	-	460	-
		Other Miscellaneous	109	191	132	40	1,022	538
		Total	$2,681	2,403	3,731	2,296	2,249	32,141

	Per Capita Expenditures by Function
		Utility	$1,507	1,634	2,386	1,870	-	-
		Debt Service	41	42	42	41	-	-
		Transportation	41	41	309	154	150	-
		General Government	433	326	348	427	1,097	363
		Public Safety	18	19	18	18	19	19
		Other	106	81	56	43	1,028	34,577
		Total	$2,146	2,143	3,159	2,553	2,294	34,959

	Per Capita Expenditures by Object
		Salaries & Wages	$118	110	117	117	123	117
		Capital Outlay	122	56	278	216	745	34,353
		Other Operating	1,906	1,977	2,764	2,220	1,426	489
		Total	$2,146	2,143	3,159	2,553	2,294	34,959

	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	116	117	117	119	121	124
		Average Population In Group	261	260	259	260	262	266
		Town of Seven Springs Population	88	87	87	88	87	86
	Group Average Per Capita Revenues by Source
		Property Tax	417	506	464	472	449	472
		Utility	254	365	338	379	292	291
		Sales Tax	131	163	157	148	145	134
		Sales & Services	47	68	62	68	50	62
		Intergovernmental	530	538	464	331	618	491
		Debt Proceeds	71	66	58	274	13	96
		Other Miscellaneous	169	273	237	250	212	230
		Total	1,619	1,979	1,780	1,922	1,779	1,776

	Group Average Per Capita Expenditures by Function
		Utility	594	851	468	528	445	399
		Debt Service	66	134	82	175	151	82
		Transportation	104	204	145	154	172	151
		General Government	303	311	293	305	288	295
		Public Safety	217	254	212	239	212	252
		Other	239	348	482	291	528	402
		Total	1,523	2,102	1,682	1,692	1,796	1,581

	Group Average Per Capita Expenditures by Object
		Salaries & Wages	322	400	361	369	327	348
		Capital Outlay	581	816	448	500	456	500
		Other Operating	620	886	873	823	1,013	733
		Total	1,523	2,102	1,682	1,692	1,796	1,581


General Fund Go to top of page			2009	2008	2007	2006	2005	2004
	General Fund revenues		$54,812	52,087	57,899	49,699	55,730	61,224
	General Fund expenditures		56,250	44,238	67,259	60,078	182,760	54,232
	Operating transfers in		-	-	-	-	83,128	15,000
	Operating transfers out		-	-	-	32,545	-	-
	Capital leases and installment purchase proceeds		-	-	-	-	40,000	-
	Other items		-	8,708	-	-	-	-
	Excess of revenues and other sources over (under) expenditures and other uses		(1,438)	16,557	(9,360)	(42,924)	(3,902)	21,992

	Fund balance available (FBA):
		In dollars	$105,351	107,158	90,851	99,754	114,126	104,280
		FBA as a % of GF Net Expenditures:
		Unit's FBA %	187.29	242.23	135.08	107.70	79.94	192.28
		Group weighted average FBA %	121.81	116.82	119.65	123.14	110.05	128.31
		State weighted average Non-Electric Group	37.77	36.63	37.38	37.38	36.82	36.42
		State weighted average FBA %	37.00	36.34	36.55	36.96	36.78	36.35


Enterprise Funds: Go to top of page
	Water/Sewer

	Combined financial results:
		Working capital	$154,627	106,033	99,398	40,476	-	-
		Quick ratio	17.42	16.74	38.87	4.21	0.00	0.00
		Net income	(40,245)	(77,653)	(29,016)	(67,837)	0	0
		Cashflow from operations	36,164	11,058	39,053	(7,566)	0	0
		Depreciation & Amortization Expense	88,714	88,593	88,138	88,138	0	0



Cash, Investments and Financing Go to top of page			2009	2008	2007	2006	2005	2004

		Population at July 1st of the Previous Year	88	87	87	88	87	86
		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	$222,309	187,054	161,715	139,732	115,801	138,363
		Investment Earnings	1,373	3,586	2,377	1,769	411	513
		Tax Rate Equivalent	0.0310	0.0834	0.0578	0.0421	0.0100	0.0122
		Tax Rate Equivalent Group weighted average	0.0138	0.0403	0.0513	0.0318	0.0173	0.0098
		Tax Rate Equivalent Statewide weighted average	0.0133	0.0524	0.0920	0.0573	0.0415	0.0340
		Latest year of Revaluation		2003	2003	2003	2003	2003
		January 1, Prior Year Assessed Valuation	$4,433,997	4,298,920	4,114,423	4,205,402	4,125,695	4,201,227
		Tax Rate	0.5000	0.5000	0.5000	0.5000	0.5000	0.5000
		Tax Rate Group weighted average	0.2821	0.2676	0.3651	0.3049	0.3181	0.3240
		Tax Rate State Wide	0.4267	0.4243	0.4452	0.4321	0.4448	0.4566
		Assessment -to-Sales Ratio	82.81	87.95	90.83	94.52	98.22	99.87
		Assessment -to-Sales Ratio Group weighted average	86.15	87.73	75.64	81.67	87.64	94.38
		Assessment -to-Sales Ratio Statewide	90.81	88.52	88.41	92.28	92.35	92.18
		Assessed Valuation Adjusted for Assesment to Sales Ratio	$5,354,422	4,887,914	4,529,806	4,449,219	4,200,463	4,206,696
		EffectiveTax Rate	0.4141	0.4398	0.4542	0.4726	0.4911	0.4994
		Group weighted average Effective Tax Rate	0.2430	0.2348	0.2762	0.2490	0.2788	0.3058
		Statewide weighted average Effective Tax Rate	0.3875	0.3756	0.3936	0.3987	0.4108	0.4209
		Percent Collected	87.55	88.91	89.69	88.36	86.25	89.65
		Percent Collected Group weighted average	96.11	96.32	97.25	97.71	97.79	97.61
		Percent Collected Statewide	97.78	97.64	97.59	97.55	97.42	97.31
		Percent Collected Excluding Motor Vehicles	89.09	89.62	91.01	90.63	90.13	95.74
		Percent Collected Excluding Motor Vehicles Group weighted average	96.69	97.12	97.74	98.29	98.48	98.56
		Percent Collected Excluding Motor Vehicles Statewide weighted average	98.31	98.65	98.59	98.61	98.36	98.39
		Percent Collected Motor Vehicles Only	79.57	85.45	83.42	78.79	68.23	60.06
		Percent Collected Motor Vehicles Only Group weighted average	82.93	84.77	83.59	84.25	84.13	83.38
		Percent Collected Motor Vehicles Only Statewide weighted average	86.66	86.74	86.71	86.80	87.31	87.46
		Tax Uncollected	818	2,441	2,279	2,619	3,048	2,330
		Tax Rate Equivalent	0.0184	0.0568	0.0554	0.0623	0.0739	0.0555
		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	161	155	201	217	236	300
		Total Per Capita Statewide	455	456	478	495	505	548
		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	0.0782%	0.0794%	0.1282%	0.1208%	0.1597%	0.2110%
		Total per Assessed Valuation Adjusted for Current Year Sales - Statewide	0.3909%	0.4131%	0.4706%	0.5275%	0.5588%	0.6442%
		Total Authorized but not Issued General Obligation Debt

		Installment Sales Purchases and Lease Obligations
		--Enterprise	$0	0	0	0	0	0
		--General Government	31,587	33,820	35,964	38,023	40,000	0
		Total*	$31,587	33,820	35,964	38,023	40,000	0
		* The total only includes the contracts that require Local Government Commission approval.
		Revenue Bond Debt	$0	0	0	0	0	0


Annual Financial Information Report Detail Go to top of page
Line	Section	Description	2009	2008	2007	2006	2005	2004
	Population at July 1st of the Previous Year Adjusted for Boundry Changes		88	87	87	88	87	86

1A	Non GASB34	General Fund Assets
1B	FISCAL	General Fund Liabilities
2A	SUMMARY	Debt-service Assets
2B		Debt service Liabilities
3A		Enterprise Assets
3B		Enterprise Liabilities
4A		Internal Service Assets
4B		Internal service Liabilities
5A		Special Revenue Assets
1.5A	GASB34	Governmental Activities Assets	304,148	311,584	312,471	377,583	3,828,392	3,982,795
1.5B	FISCAL	Governmental Activities Liabilities	34,796	37,063	39,138	50,875	43,234	110,214
3.5A	SUMMARY	Business Type Activities Assets	3,234,238	3,271,669	3,334,695	3,383,907
3.5B		Business Type Activities Liabilties	15,041	12,227	7,600	17,796
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
9B		General Long term debt - Liabilities
10	PART 2	Current collections of unit-wide levy	19,287	19,562	19,830	19,888	19,115	20,343
11	TAX	Current collection of special tax districts
12	REVENUES	Prior years' levy collections	1,239	1,528	1,202	2,367	1,946	1,827
13		Penalties and interest	293	145	122	228	372	161
14		Collection of taxes previously written off
15		Animal tax
15.1		Solid Waste Disposal Tax
16		1% Local government sales and use tax	3,781	3,829	4,073	4,216	4,825	4,159
17		1/2% Local government sales and use taxes (Article 40)	2,224	2,408	2,664	2,571	2,353	2,080
18		1/2% Local government sales and use taxes (Article 42)	2,205	2,392	2,646	2,556	2,337	2,079
18.5		1/2% Local government sales and use taxes (Article 44)	1,134	1,890	2,062	2,080	2,098	2,079
19		Licenses Privilege						190
19.1		Privilege - Occupational & business licensing & permit taxes	50	150	100	200	60
19.2		Privilege -- All other privileges and pemits
20		General Municipal Vehicle Tax						55
21		Vehicle Tax for Public Transportation
22		Other licenses - Include CATV				35	50	6,865
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					3,750	11,250
30		Public safety
31		Transportation - Streets
32		Transportation - All other
33		Utility franchise tax						2,659,614
34		Housing/community development
35		All Other					16,410	7,020
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	616
42		Wireless Enhanced 911 Service Charges
43		Piped Natural Gas Charge Distribution
44		Utility franchise tax	9,000	8,175	8,370	6,934	7,042
45		Beer and Wine tax	111	110	106	97	93	88
46		Powell Bill	4,404	4,921	4,286	4,497	4,507
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
52		Public safety
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						1,115
59		All Other
60		Culture and recreation
61	LOCAL	LOCAL Payment in lieu of taxes
62	INTERGOV	General government
63	REVENUES	Public safety
64		Transportatin - Streets						4,088
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
71	PERMITS	Building permits
72	& FEES	Inspection fees
72.1		Amusements licensing and permit taxes
73		Other permits
74	SALES &	Parking revenues
75	SERVICES	Rents and royalties	1,731	1,856	2,531	1,831	1,907	1,882
76		Airport
77		Fire protection charges
78		Solid waste
79		Ambulance and rescue squad charges
80		Cemeteries
81		Recreation service revenues
82		Library service revenues
83		Other cultural and recreational service revenues
84		Mass transit - city operated
85		Other sales and services						99
86	UTILITY	Water and sewer charges	180,252	145,612	265,229	151,185
87	REVENUES	Electric charges
88		Gas charges
88.1		Storm Water Fees
89	MISC.	On bond proceeds
90	REVENUES	On general and all other funds	1,373	3,586	2,377	1,769	411	513
91		Special assessments
92		Private contribution and donations	4,641	3,486	3,602	1,431	3,938	20,880
93		Sales of materials and fixed assets			5,000
94		Sales of real property
95		Nongovernment contributions for streets and traffic signals
96		Mixed drink surcharge
97		ABC profit distribution
98		Other miscellaneous revenues	3,563	714	425	124	84,426	2,743
99		Proceeds of the sale of bonds and notes
100		Proceeds of capital leases and installment purchases					40,000
101		Other		8,708				15,000
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	125	525
106		Deposits other than utility			200
107		Prepaid taxes		113	2	-18	30
108		Prepaid privilege licenses
109A	PART 4	Governing body - Salaries	750
109B	GENERAL	Governing body - All other Direct		2,175	2,175	2,300	2,000	2,433
109C	GOVT	Governing body - Construction
109D		Governing body - Land, Equipment and Existing Structures
110A		Administration - Salaries	9,609	9,593	10,140	10,292	10,679	10,098
110B		Administration - All other Direct
110C		Administration - Construction
110D		Administration - Land, Equipment and Existing Structures
111A		Elections (cost of) - Salaries
111B		Elections (cost of) - All other Direct		1,318
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	16,905	15,361	17,274	16,214	17,928	17,698
118C		General Government All Other - Construction				8,686
118D		General Government All Other - Land, Equipment, and Existing Structures	10,768		690		64,833	1,000
119A	PUBLIC	Police and Communications - Salaries
119B	SAFETY	Police and Communications - All other Direct
119C		Police and Communications - Construction
119D		Police and Communications - Land, Equipment and Existing Structures
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	1,623	1,616	1,568	1,614	1,624	1,624
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
128B		Streets and Highways - All other Direct	3,617	3,403	3,368	3,287	3,247
128C		Streets and Highways - Construction
128D		Streets and Highways - Land, Equipment and Existing Structures			23,522	10,284
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		125			9,836
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
136B	MENTAL	Solid Waste - All other Direct					63,232
136C	PROTECTION	Solid Waste - Construction						2,899,919
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
138C		Cemeteries - Construction
138D		Cemeteries - Land, Equipment, and Existing Structures
139A		Environmental Protection - All Other - Salaries
139B		Environmental Protection - All Other - All other Direct					3,750	13,481
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					16,410
145C		Economic and Physical Development - All Other - Construction						9,635
145D		Economic and Physical Development - All Other - Land, Equipment, and Existing Structures
146A	HUMAN	Health - Salaries
146B	SERVICES	Health - All other Direct
146C		Health - Construction
146D		Health - Land, Equipment, and Existing Structures
147A		Mental Health - Salaries
147B		Mental Health - All other Direct
147C		Mental Health - Construction
147D		Mental Health - Land, Equipment, and Existing Structures
148A		Social Services - Salaries
148B		Social Services - All other Direct
148C		Social Services - Construction
148D		Social Services - Land, Equipment, and Existing Structures
149B		Subsidies Paid: Hospitals - City Owned - All other Direct
150B		Subsidies Paid: Hospitals - Private Owned - All other Direct
151A		Other Human Services: Legal Aid - Salaries
151B		Other Human Services: Legal Aid - All other Direct
151C		Other Human Services: Legal Aid - Construction
151D		Other Human Services: Legal Aid - Land, Equipment, and Existing Structures
152A		Human Services - All Other - Salaries
152B		Human Services - All Other - All other Direct
152C		Human Services - All Other - Construction
152D		Human Services - All Other - Land, Equipment, and Existing Structures
153A	CULTURE	Recreation and Parks - Salaries
153B	RECREATION	Recreation and Parks - All other Direct	1,400	694			372	6,798
153C		Recreation and Parks - Construction						42,684
153D		Recreation and Parks - Land, Equipment, and Existing Structures						1,100
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	613	496
155C		Museums - Construction
155D		Museums - Land, Equipment, and Existing Structures
156A		Libraries - Salaries
156B		Libraries - All other Direct	3,768	3,605	4,889	3,768	5,631
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	3,564	2,219
157C		Human Services - All Other - Construction
157D		Human Services - All Other - Land, Equipment, and Existing Structures
158A	UTILITY	Water and Sewer - Salaries
158B		Water and Sewer - All other Direct	132,623	137,337	207,604	164,554
158C		Water and Sewer - Construction
158D		Water and Sewer - Land, Equipment, and Existing Structures		4,830
159A		Electric Power - Salaries
159B		Electric Power - All other Direct
159C		Electric Power - Construction
159D		Electric Power - Land, Equipment, and Existing Structures
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
161D	SERVICE	Water and Sewer - Debt Service Principal Payments
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	1,400	1,489	3,633	3,633
166D		All Other - Debt Service Principal Payments	2,233	2,144
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)
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	18,457	18,231	18,278	18,208	18,235	18,669
180	OTHER	Current Year Levy Motor Vehicles Only	3,573	3,772	3,831	4,299	3,928	3,843
181	DATA	Uncollected Taxes - Current Year's Levy - Excluding Motor Vehicles	2,013	1,892	1,644	1,707	1,800	795
182		Uncollected Taxes - Current Year's Levy - Motor Vehicles	730	549	635	912	1,248	1,535
183		Percentage of Taxes Collected - Current Year All Property	87.55	88.91	89.69	88.36	86.25	89.65
184		Percentage of Taxes Collected - Current Year - Excluding Motor Vehicles	89.09	89.62	91.01	90.63	90.13	95.74
185		Percentage of Taxes Collected - Current Year - Motor Vehicles	79.57	85.45	83.42	78.79	68.23	60.06
186		Total Amount of Expenditures for Salaries and Wages to Unit's Own Personnal
187A		Capital Reserve or Available Funds - Schools - July 1, Previous Year
187B		Capital Reserve or Available Funds - Schools - June 30, Current Year
188A		Capital Reserve or Available Funds - Hospitals - July 1, Previous Year
188B		Capital Reserve or Available Funds - Hospitals - June 30, Current Year
189A	PART 7	Cash on Hand and in Bank, and Securities - Held in Debt Service Fund
189B	CASH &	Cash on Hand and in Bank, and Securities - Construction Bond Fund - Unexpended bond proceeds
189C	INVEST	Cash on Hand and in Bank, and Securities - All Other	222,309	187,054	161,715	139,732	115,801	138,363
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	235,904	209,072	324,625	202,009	278,768	2,764,130
194B	FISCAL	Amounts - Subtract proceeds of refunding debt
194C	SUMMARY	Amounts - Subtract interfund transfers in					83,128
194D		Amounts - Net Revenues per AFIR	235,904	209,072	324,625	202,009	195,640	2,764,130
		Calculated amount	235,904	209,072	324,625	202,009	195,640	2,764,130
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference
195A		Amounts - Total Expenditures and other financing sources per audit	188,873	186,405	274,863	224,632	282,670	3,006,470
195B		Amounts - Subtract payments to refunding debt escrow agent
195C		Amounts - Subtract interfund transfers out					83,128
195D		Amounts Net Expenditures per AFIR	188,873	186,405	274,863	224,632	199,542	3,006,470
		Calculated amount	188,873	186,405	274,863	224,632	199,542	3,006,470
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference

	PART 10

950		Name of Official Signatory	Karen Webster
951		Title of Official	Town Clerk
952		Date Certified	11/09/2009	10/01/2008	10/22/2007
953		Person to Contact	Connie H. Huffman
954		Title of Person to Contact	CPA
955		Telephone Number	252-568-2128
956		Facsimile Number	252-568-2201

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

	2009	2008	2007	2006	2005	2004

Population	88	87	87	88	87	86
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	0	15	2	0	44	6
State Weighted Average Revenues Per Capita	2	20	12	15	16	3

% to Total Operating Revenues
Operating Expenses	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Group Weighted Average	#DIV/0!	72.90%	104.20%	#DIV/0!	6.43%	287.79%
State Weighted Average	287.00%	89.94%	84.21%	104.54%	119.75%	338.51%

Operating Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Group Weighted Average	#DIV/0!	27.10%	-4.20%	#DIV/0!	93.57%	-187.79%
State Weighted Average	-187.00%	10.06%	15.79%	-4.54%	-19.75%	-238.51%

Operating Transfers In/(out)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Group Weighted Average	#DIV/0!	-20.51%	0.00%	#DIV/0!	0.00%	0.00%
State Weighted Average	0.00%	-0.70%	-0.66%	-1.84%	-2.09%	5.70%

Net Income before capital contributions	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Group Weighted Average	#DIV/0!	2558.99%	22041.01%	#DIV/0!	1247.98%	5241.12%
State Weighted Average	968.20%	480.53%	1193.75%	778.98%	531.01%	2097.68%

Key Ratios and Cash Flow

Quick Ratio	17.42	16.74	38.87	4.21	N/A	N/A
Group Weighted Average	2.88	2.95	2.93	2.91	1.94	2.91
State Weighted Average	2.81	2.96	2.90	2.82	1.82	2.76

Days Sales in Receivables	N/A	N/A	N/A	N/A	N/A	N/A
Group Weighted Average	#DIV/0!	29.7	#DIV/0!	#DIV/0!	0.0	35.4
State Weighted Average	47.3	60.7	42.6	87.6	97.7	61.5

Days Cash on Hand	0.0	0.0	0.0	0.0	0.0	0.0
Group Weighted Average	0.0	-80.4	0.0	0.0	0.0	-16.4
State Weighted Average	-46.5	-344.5	-221.9	-343.5	-346.7	-208.8

Cash flow from Operations	$36,164	11,058	39,053	-7,566	0	0

Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00
Group Weighted Average	0.00	0.29	0.01	1.73	0.11	0.19
State Weighted Average	27.79	3.77	5.74	3.82	2.36	3.93

Debt per Capita	0	0	0	0	0	0
Group Weighted Average	0	65	9	114	50	18
State Weighted Average	754	535	335	660	675	266

Capital Expenditures:	2009	2008	2007	2006	2005	2004
	$0	4,830	0	0	0	0

	2003	2002	2001	2000
	$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	NA	NA	NA
Estimated population of the areas served Sewer	0	0	72	NA	NA	NA

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

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

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

Total Revenue from Water Sales	0	0	0	NA	NA	NA
Total Revenue from Sewage Sales	173,529	155,012	262,207	NA	NA	NA

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

Group Average Sales per thousand Gallons Water	$19.73896	$3,526.31757	$3,934.54117	NA	NA	NA
Group Average Sales per thousand Gallons Sewage	$17.56449	$2,331.22681	$2,500.46314	NA	NA	NA

State Average Sales per thousand Gallons Water	$28.47236	$12,972.02948	$5,350.70834	NA	NA	NA
State Average Sales per thousand Gallons Sewage	$41.46915	$10,319.10819	$3,921.08643	NA	NA	NA

Residential Water Sales per thousand Gallons				NA	NA	NA
Residential Sewage Sales per thousand Gallons	$10,844.50000	17.41698	13.91187	NA	NA	NA

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

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

	2005	2006	2007	2008	2009
Unit's FBA %	79.94%	107.70%	135.08%	242.23%	187.29%
Group average FBA %	110.05%	123.14%	119.65%	116.82%	121.81%
State average Electric/Non Electric Group FBA %	36.82%	37.38%	37.38%	36.63%	37.77%
State average FBA %	36.78%	36.96%	110.05%	36.34%	37.00%

Municipal Population Group: No Electric 499 and Below

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2005 2006 2007 2008 2009

Municipality 86.25% 88.36% 89.69% 88.91% 87.55%

Pop. Group 97.79% 97.71% 97.25% 96.32% 96.11%

Statewide 97.42% 97.55% 97.59% 97.64% 97.78%

Municipal Population Group: No Electric 499 and Below

	2005	2006	2007	2008	2009
Municipality	86.25%	88.36%	89.69%	88.91%	87.55%
Pop. Group	97.79%	97.71%	97.25%	96.32%	96.11%
Statewide	97.42%	97.55%	97.59%	97.64%	97.78%

Municipal Population Group: No Electric 499 and Below

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2005 2006 2007 2008 2009

Municipality 0 0 0 0 0

Pop. Group 236 217 201 155 161

Statewide 505 495 478 456 455

Municipal Population Group: Under 500

	2005	2006	2007	2008	2009
Municipality	0	0	0	0	0
Pop. Group	236	217	201	155	161
Statewide	505	495	478	456	455

Municipal Population Group: Under 500

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2005 2006 2007 2008 2009

Property Tax $246 255 243 244 237

Utility 0 1,718 3,049 1,674 2,048

Sales Tax 133 131 131 121 106

Sales & Services 22 21 29 21 20

Intergovernmental 366 131 147 152 161

Debt Proceeds 460 0 0 0 0

Other Miscellaneous 1,022 40 132 191 109

Total $2,249 2,296 3,731 2,403 2,681

	2005	2006	2007	2008	2009
Property Tax	$246	255	243	244	237
Utility	0	1,718	3,049	1,674	2,048
Sales Tax	133	131	131	121	106
Sales & Services	22	21	29	21	20
Intergovernmental	366	131	147	152	161
Debt Proceeds	460	0	0	0	0
Other Miscellaneous	1,022	40	132	191	109
Total	$2,249	2,296	3,731	2,403	2,681

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2009
2009

Category Revenue
Per Capita

Property Tax $20,819
$237

Water/Sewer 180,252
2,048

Electric 0
0

Other Utilities 0
0

Sales Tax 9,344
106

Sales & Services 1,731
20

Intergovernment 14,131
161

Debt Proceeds 0
0

Miscellaneous 9,627
109

Total $235,904
$2,681

Municipal Population Group: No Electric 499 and Below

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2009
2009

Category Expenditures
Per Capita

General Government $38,032
$433

Water/Sewer 132,623
1,507

Electric 0
0

Other Utilities 0
0

Debt Service 3,633
41

Transportation 3,617
41

Public Safety 1,623
18

Other 9,345
106

Total $188,873
$2,146

Municipal Population Group: No Electric 499 and Below

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2009
2009

Category Expenditures
Per Capita

Salaries & Wages $10,359
$118

Water/Sewer Capital 0
0

Electric Capital 0
0

Capital Outlay 10,768
122

Other Operating 167,746
1,906

Total $188,873
$2,146

Municipal Population Group: No Electric 499 and Below

Last Updated 6/11/2010 10:26:05 AM



	2009	2009
Category	Revenue	Per Capita
Property Tax	$20,819	$237
Water/Sewer	180,252	2,048
Electric	0	0
Other Utilities	0	0
Sales Tax	9,344	106
Sales & Services	1,731	20
Intergovernment	14,131	161
Debt Proceeds	0	0
Miscellaneous	9,627	109
Total	$235,904	$2,681

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