North Carolina
Department of State Treasurer
Financial Information
Town of Smithfield

Financial Profile | General Fund | Enterprise Funds | Cash, Investments and Financing
Annual Financial Information Report Detail | 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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The AFIR report that was due 10/31/2011 has not been received as of 01/28/2012

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

Municipality Revenues and Expenditures Financial Profile Go to top of page			2011	2010	2009	2008	2007	2006
	Revenues by Source
		Property Tax	$0	5,176,144	5,209,674	5,125,352	5,140,971	4,799,069
		Utility	-	24,878,285	23,790,436	21,898,345	22,098,281	21,399,242
		Sales Tax	-	1,549,108	1,779,259	2,094,249	2,180,826	1,949,765
		Sales & Services	-	3,441,082	2,820,529	2,243,526	2,058,123	1,909,629
		Intergovernmental	-	2,399,822	2,571,585	1,282,761	1,329,996	1,917,450
		Debt Proceeds	-	674,358	721,783	553,233	354,496	257,480
		Other Miscellaneous	-	996,964	1,468,263	9,358,078	2,822,465	1,411,414
		Total	$0	39,115,763	38,361,529	42,555,544	35,985,158	33,644,049

	Expenditures by Function
		Utility	$0	24,080,613	24,172,469	21,158,482	23,247,255	21,199,206
		Debt Service	-	2,353,965	2,592,753	1,254,850	1,259,951	1,478,324
		Transportation	-	1,508,241	681,460	720,826	1,458,855	1,138,717
		General Government	-	2,382,311	3,077,583	1,634,454	1,425,021	1,386,040
		Public Safety	-	6,394,863	6,479,439	6,248,855	5,880,225	4,723,887
		Other	-	3,424,720	2,605,518	2,497,212	2,675,429	3,024,949
		Total	$0	40,144,713	39,609,222	33,514,679	35,946,736	32,951,123

	Expenditures by Object
		Salaries & Wages	$0	8,181,844	7,690,993	9,427,249	8,505,421	8,220,567
		Capital Outlay	-	2,348,766	-	839,778	3,501,167	2,694,604
		Other Operating + Debt Service	-	29,614,103	31,918,229	23,247,652	23,940,148	22,035,952
		Total	$0	40,144,713	39,609,222	33,514,679	35,946,736	32,951,123


	Per Capita Revenues by Source
		Property Tax	$0	386	398	400	413	394
		Utility	-	1,855	1,818	1,708	1,774	1,758
		Sales Tax	-	116	136	163	175	160
		Sales & Services	-	257	216	175	165	157
		Intergovernmental	-	179	196	100	107	158
		Debt Proceeds	-	50	55	43	28	21
		Other Miscellaneous	-	74	112	730	227	116
		Total	$0	2,917	2,931	3,319	2,889	2,764

	Per Capita Expenditures by Function
		Utility	$0	1,796	1,847	1,650	1,866	1,742
		Debt Service	-	176	198	98	101	121
		Transportation	-	112	52	56	117	94
		General Government	-	178	235	128	115	113
		Public Safety	-	477	495	487	472	388
		Other	-	255	199	195	215	249
		Total	$0	2,994	3,026	2,614	2,886	2,707

	Per Capita Expenditures by Object
		Salaries & Wages	$0	610	588	735	683	675
		Capital Outlay	-	175	-	66	281	221
		Other Operating	-	2,209	2,438	1,813	1,922	1,811
		Total	$0	2,994	3,026	2,614	2,886	2,707

	Population Group		No Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999
		Number of Municipalites in Group	65	23	22	22	22	22
		Average Population In Group	20,627	20,466	20,622	22,003	21,233	20,452
		Town of Smithfield Population	11,046	13,410	13,088	12,821	12,456	12,172
	Group Average Per Capita Revenues by Source
		Property Tax	411	389	401	365	353	344
		Utility	955	1,830	1,741	1,897	1,838	1,897
		Sales Tax	125	129	143	154	155	149
		Sales & Services	78	112	106	102	99	91
		Intergovernmental	168	221	190	170	182	209
		Debt Proceeds	132	48	114	152	79	102
		Other Miscellaneous	126	150	327	279	287	167
		Total	1,995	2,879	3,022	3,119	2,993	2,959

	Group Average Per Capita Expenditures by Function
		Utility	872	1,782	1,815	1,907	1,817	1,915
		Debt Service	162	174	166	147	136	192
		Transportation	124	147	121	120	116	119
		General Government	134	183	184	157	136	134
		Public Safety	353	415	412	393	374	363
		Other	274	287	340	357	288	270
		Total	1,919	2,988	3,038	3,081	2,867	2,993

	Group Average Per Capita Expenditures by Object
		Salaries & Wages	515	644	628	623	586	561
		Capital Outlay	209	358	440	429	329	352
		Other Operating	1,194	1,986	1,969	2,028	1,952	2,080
		Total	1,918	2,988	3,037	3,080	2,867	2,993


General Fund Go to top of page			2011	2010	2009	2008	2007	2006
	General Fund revenues		$0	12,783,829	12,384,686	11,905,415	11,302,619	10,465,369
	General Fund expenditures		-	13,944,631	12,751,560	11,655,411	11,124,152	10,762,600
	Operating transfers in		-	137,000	157,700	210,000	172,600	100,000
	Operating transfers out		-	33,205	485,451	130,000	82,695	100,000
	Capital leases and installment purchase proceeds		-	-	366,248	400,000	450,000	718,564
	Other items		-	-	-	-	325,000	-
	Excess of revenues and other sources over (under) expenditures and other uses		-	(1,057,007)	(328,377)	730,004	1,043,372	421,333

	Fund balance available (FBA):
		In dollars	$0	1,486,617	2,658,596	3,000,928	2,354,925	1,244,472
		FBA as a % of GF Net Expenditures:
		Unit's FBA %	0.00	10.64	20.66	26.36	21.89	12.27
		Group weighted average FBA %	58.45	38.21	39.96	38.75	37.01	40.17
		State weighted average Electric Group	38.21	33.60	34.33	35.35	33.92	35.62
		State weighted average FBA %	38.21	37.47	37.03	36.35	36.54	36.96


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

	Combined financial results:
		Working capital	$0	8,756,214	8,220,282	6,215,757	7,107,314	8,032,415
		Quick ratio	0.00	3.44	3.43	2.83	3.55	4.33
		Net income	0	535,680	(666,736)	18,214	583,390	957,228
		Cashflow from operations	0	1,068,320	(8,563)	1,598,547	686,164	1,373,105
		Depreciation & Amortization Expense	0	665,937	692,220	707,763	713,352	569,722



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

		Population at July 1st of the Previous Year	11,046	13,410	13,088	12,821	12,456	12,172
		Population Group	No Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999
		Cash &Investments	$0	$8,570,924	$9,658,470	$10,056,957	$8,174,920	$7,602,695
		Investment Earnings	0	102,609	384,683	519,878	473,564	333,030
		Tax Rate Equivalent	0.0000	0.0114	0.0423	0.0583	0.0549	0.0399
		Tax Rate Equivalent Group weighted average	0.0057	0.0102	0.0304	0.0707	0.0793	0.0520
		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	$890,000,705	900,151,604	908,498,589	891,213,430	862,979,555	835,572,787
		Tax Rate	0.5700	0.5700	0.5700	0.5700	0.5700	0.5700
		Tax Rate Group weighted average	0.4274	0.4364	0.4411	0.4498	0.4454	0.4425
		Tax Rate State Wide	0.4122	0.4090	0.4262	0.4238	0.4450	0.4321
		Assessment -to-Sales Ratio	98.69	90.05	85.55	89.26	91.71	97.04
		Assessment -to-Sales Ratio Group weighted average	101.46	96.93	88.67	87.55	90.13	92.19
		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	$901,814,475	999,613,108	1,061,950,425	998,446,594	940,987,411	861,060,168
		EffectiveTax Rate	0.5625	0.5133	0.4876	0.5088	0.5227	0.5531
		Group weighted average Effective Tax Rate	0.4336	0.4230	0.3911	0.3938	0.4015	0.4080
		Statewide weighted average Effective Tax Rate	0.4183	0.4020	0.3870	0.3752	0.3934	0.3987
		Percent Collected	0.0000	98.7000	98.9300	98.8100	98.7200	98.7600
		Percent Collected Group weighted average	96.90	96.58	96.54	96.79	96.51	96.74
		Percent Collected Statewide	97.59	97.36	97.34	97.56	97.58	97.55
		Percent Collected Excluding Motor Vehicles	0.00	99.30	99.69	99.65	99.60	99.60
		Percent Collected Excluding Motor Vehicles Group weighted average	97.73	97.39	97.57	98.03	97.73	98.00
		Percent Collected Excluding Motor Vehicles Statewide weighted average	98.35	98.23	98.30	98.65	98.59	98.61
		Percent Collected Motor Vehicles Only	0.00	90.92	90.01	89.71	88.98	89.70
		Percent Collected Motor Vehicles Only Group weighted average	86.78	85.57	84.72	83.94	84.21	85.28
		Percent Collected Motor Vehicles Only Statewide weighted average	87.28	86.34	86.55	86.74	86.71	86.80
		Tax Uncollected	0	407,548	425,967	445,051	432,063	421,777
		Tax Rate Equivalent	0.0000	0.0453	0.0469	0.0499	0.0501	0.0505
		Dominant County: Johnston
	Debt Information
		Population Group	10,000 to 24,999	10,000 to 24,999	10,000 to 24,999	10,000 to 24,999	10,000 to 24,999	10,000 to 24,999
		Ratings:
		Fitch
		Moody's		A1	A3	A3	A3	A3
		S & P		A	A	A	A	A

		General Obligation Debt (GO) where the taxing power of the entrire municipality is pledged to pay the obligation
		Enterprise GO Debt	$0	1,400,000	1,575,000	1,750,000	1,925,000	2,100,000
		General Government GO Debt	0	0	0	0	0	0
		Total General Obligation Debt	0	1,400,000	1,575,000	1,750,000	1,925,000	2,100,000
		Per Capita	$0	104	120	136	155	173
		Total Per Capita for the Population Group	#N/A	132	130	153	166	163
		Total Per Capita Statewide	#N/A	449	455	456	478	495
		Total per Assessed Valuation Adjusted for Current Year Sales	0.0000%	0.1401%	0.1483%	0.1753%	0.2046%	0.2439%
		Total per Assessed Valuation Adjusted for Current Year Sales- Group Average	#N/A	0.1377%	0.1320%	0.1585%	0.1868%	0.1912%
		Total per Assessed Valuation Adjusted for Current Year Sales - Statewide	#N/A	0.4104%	0.3909%	0.4132%	0.4706%	0.5275%
		Total Authorized but not Issued General Obligation Debt	$0

		Installment Sales Purchases and Lease Obligations
		--Enterprise	$0	325,000	390,000	455,000	520,000	585,000
		--General Government	0	8,375,000	9,112,500	9,300,000	1,562,500	1,397,376
		Total*	$0	8,700,000	9,502,500	9,755,000	2,082,500	1,982,376
		* The total only includes the contracts that require Local Government Commission approval.
		Revenue Bond Debt	$0	5,088,392	5,321,024	5,546,911	605,411	663,911


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		11,046	13,410	13,088	12,821	12,456	12,172

1.5A	FISCAL	Governmental Activities Assets		41,647,080	43,615,696	45,428,856	36,720,993	35,658,585
1.5B	SUMMARY	Governmental Activities Liabilities		13,745,693	14,373,589	15,041,730	6,480,862	5,580,574
3.5A		Business Type Activities Assets		28,717,931	28,010,454	28,582,813	23,510,507	22,847,808
3.5B		Business Type Activities Liabilties		8,734,989	8,563,192	8,468,815	3,414,723	3,335,413
6.5A		Fiduciary Funds Assets		322,465	319,747	314,540	312,643	296,002
6.5B		Fiduciary Funds Liabilties		322,465	217,500	217,300	216,564	205,534
10.0	PART 2	Current Collections of Unit -Wide Levy		5,097,534	5,154,255	5,032,322	4,951,049	4,711,170
11.0	TAX	Current Collections of Special Tax Districts		215,773	80,279	215,961	212,750	177,850
12.0	REVENUES	Prior Years' Levy Collections		47,661	55,419	59,407	148,864	64,969
13.0		Penalties and Interest		30,949		33,623	41,058	22,930
14.0		Collections of Taxes Previously Written Off
15.0		Animal Tax
15.1		Solid Waste Disposal Tax		9,038	3,859
16.0		1% Local Government Option Sales Tax		573,170	661,099	759,853	822,964	745,184
17.0		1/2% Local Government Option Sales Tax (40)		387,277	437,956	477,978	480,887	423,400
18.0		1/2% Local Government Option Sales Tax (42)		371,786	434,423	474,403	476,928	420,441
18.5		1/2% Local Government Option Sales Tax (44)		216,875	245,781	382,015	400,047	360,740
19.0		Privilege Licenses		24,468	27,415	35,922	19,566	21,203
19.2		Privilege -- All other privileges and pemits
20.0		Auto Licenses			370,099
21.0		Vehicle Tax for Public Transportation
22.0		Other Licenses		129,144
23.0		Local Occupancy Tax		114,074	118,360	120,837	83,014	43,189
24.0		Prepared Food Tax
25.0		911 Charges
26.0		Gross Short Term lease and Rental Tax		11,734	10,987	13,860	13,368	13,404
27.0	FEDERAL	Payments In Lieu of Taxes - Federal
28.0	INTERGOV	Equitable Sharing of Fed. Forfeited Prop.		95,220	8,908	2,791	1,105	332
29.0	REVENUES	General Government
30.0		Public Safety		82,262				20,869
31.0		Transportation - Streets					95,564	130,474
32.0		Transportation - All Other		632,843
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		2,315	9,085	11,216	11,861	6,942
41.0	REVENUES	Transitional Hold Harmless			89,651
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		883,775	985,718	715,122	730,763	673,467
45.0		Beer and Wine Tax		18,667	57,578	57,377	55,002	52,531
46.0		Powell Bill		347,389	387,737	426,052	376,390	384,014
50.0		Court Fees - Facilities and Arrest Fees		4,280	2,625
51.0		General Government
52.0		Public Safety
53.0		Transportation - Streets
54.0		Transportation - All Other		158,211
55.0		Environmental Protection		37,000			15,590	610,206
56.0		Econ. & Phys. Dev. - Housing/Community Dev
57.0		Econ. & Phys. Dev. - All Other		75,000
58.0		Human Services -Health, Mental Health, Hosp
59.0		Human Services - All Other
60.0		Culture and Recreation					2,500
61.0	LOCAL	Payments in Lieu of Taxes - Local		51,126	29,296	30,227	27,853	25,211
62.0	INTERGOV	General Government			990,000	26,116
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						25,000
71.0	PERMITS	Building Permits
72.0	& FEES	Inspection Fees
72.1		Amusements licensing and permit taxes
73.0		Other Permits		36,043	26,929	37,813	28,407	28,860
74.0	SALES &	Parking Revenues
75.0	SERVICES	Rents and Royalties		44,123			35,382	31,931
76.0		Airport
77.0		Fire Protection Charges
78.0		Solid Waste		1,011,120	1,020,543	929,390	928,431	915,461
79.0		Ambulance and Rescue Squad Charges		1,319,980	1,417,316	1,138,703	908,452	792,971
80.0		Cemeteries		88,000	34,700	60,100	66,830	60,000
81.0		Recreation Service Revenues		941,816	120,775	77,520	90,621	80,406
82.0		Library Service Revenues
83.0		Other Cultural and Rec Service Revenues			200,266
84.0		Mass Transit - City Operated
85.0		Other Sales and Services			103,542	79,973	3,878	8,639
86.0	UTILITY	Water and Sewer Charges		4,983,251	4,683,737	4,618,181	4,475,365	4,498,493
87.0	REVENUES	Electric Charges		19,895,034	19,003,157	17,200,191	17,619,038	16,892,110
88.0		Gas Charges
88.1		Storm Water Fees
89.0	MISC.	Investment Earnings - Bond Proceeds
90.0	REVENUES	Investment Earnings - All Other Funds		102,609	384,683	519,878	473,564	333,030
91.0		Special Assessments		9,731	7,082	5,122	16,292	4,966
92.0		Private Contributions and Donations		346,350			212
93.0		Sales of Materials and Fixed Assets		3,599	45,692			15,700
94.0		Sale of Real Property					450,000	33,503
95.0		Nongovt Contr For Streets & Traffic Signals
96.0		ABC Mixed Drink Surcharge
97.0		ABC Profit Distribution		51,216	68,405	60,358	42,067	38,409
98.0		Other Miscellaneous Revenues		674,358	721,783	553,233	354,496	257,480
99.0		Proceeds of Sale of Bonds and Notes
100.0		Proceeds of Capital Leases/Install Purchases			366,248	8,400,000	1,525,000	718,564
101.0		Other			1,100,000
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		32,119	73,520	71,900	66,403
106.0		Deposits Other than Utility
107.0		Prepaid Taxes		8,915	44,956	49,946	-1,853
108.0		Prepaid Privilege Licenses		-6,210	21,794	29,695	15,015
109A	PART 4	Governing Body - Salaries & Wages		22,856	22,315	22,282	22,496	22,204
109B	GENERAL	Governing Body - Other Direct
109C	GOVT	Governing Body - Construction
109D		Governing Body - Purchase of P,P&E
110A		Administration - Salaries & Wages		291,126	211,914	125,662	162,326	149,393
110B		Administration - Other Direct		696,597	1,907,213	883,994	692,399	659,860
110C		Administration - Construction
110D		Administration - Purchase of P,P&E
111A		Elections - Salaries & Wages
111B		Elections - Other Direct
111C		Elections - Construction
111D		Elections - Purchase of P,P&E
112A		Finance - Salaries & Wages		264,791	286,529	77,622	87,174	128,414
112B		Finance - Other Direct		125,897	109,932	31,003	19,011	25,333
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		204,055	216,951	320,406	273,170	237,041
115B		Public Buildings - Other Direct		273,970	322,729	142,886	147,989	155,476
115C		Public Buildings - Construction		503,019
115D		Public Buildings - Purchase of P,P&E				30,599	20,456	8,319
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
118C		Gen. Govt. All Other - Construction
118D		Gen. Govt. All Other - Purchase of P,P&E
119A	PUBLIC	Police & Comm - Traffic Control - Salaries and Wages		1,957,299	1,972,910	2,514,474	2,124,040	2,100,953
119B	SAFETY	Police & Comm - Traffic Control - Other Direct		1,104,583	1,196,088	486,289	538,210	503,093
119C		Police & Comm - Traffic Control - Construction
119D		Police & Comm - Traffic Control - Purchase of P,P&E		62,990		191,707	173,920
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		926,663	905,364	1,148,518
121B		Emergency Mgmt - Other Direct		617,623	752,567	280,434
121C		Emergency Mgmt - Construction
121D		Emergency Mgmt - Purchase of P,P&E		23,760		138,625
122A		Fire - Salaries & Wages		876,956	851,605	1,093,805	986,673	766,040
122B		Fire - Other Direct		609,182	636,004	209,439	178,674	199,924
122C		Fire - Construction
122D		Fire - Purchase of P,P&E		24,194		21,354	23,927	73,730
123A		Inspectors - Salaries & Wages
123B		Inspectors - Other Direct
123C		Inspectors - Construction
123D		Inspectors - Purchase of P,P&E
124A		Rescue Units - Salaries & Wages					993,228	628,531
124B		Rescue Units - Other Direct					236,467	194,638
124C		Rescue Units - Construction					483,661	14,000
124D		Rescue Units - Purchase of P,P&E					6,208	125,017
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		186,925	182,809	306,084	164,876	181,817
128B		Streets and Highways - Other Direct		198,916	354,872	285,908	788,649	444,583
128C		Streets and Highways - Construction		278,958			359,982	155,432
128D		Streets and Highways - Purchase of P,P&E					22,000	220,318
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
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		78,759	78,474	53,703	82,635	73,901
135B		Transpor. All Other - Other Direct		17,988	65,305	41,807	40,713	31,692
135C		Transpor. All Other - Construction		746,695
135D		Transpor. All Other - Purchase of P,P&E				33,324		30,974
136A	ENVIRON	Solid Waste - Salaries & Wages		510,255	513,023	706,817	735,850	654,762
136B	MENTAL	Solid Waste - Other Direct		571,959	556,545	365,342	350,659	331,289
136C	PROTECTION	Solid Waste - Construction
136D		Solid Waste - Purchase of P,P&E				127,634	129,562	112,018
137A		Drainage & Watershed - Salaries & Wages
137B		Drainage & Watershed - Other Direct
137C		Drainage & Watershed - Construction					3,803	515,716
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		240,593	265,434	322,053	272,537	251,386
140B	& PHYSICAL	Planning & Zoning - Other Direct		107,271	134,278	74,068	50,486	68,018
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		1,024,393	495,453	589,117	565,475	516,754
153B	RECREATION	Recreation & Parks - Other Direct		834,421	640,785	266,972	370,077	246,598
153C		Recreation & Parks - Construction		135,828			49,359	136,026
153D		Recreation & Parks - Purchase of P,P&E				45,209	147,621	192,382
154A		Coliseum - Salaries & Wages
154B		Coliseum - Other Direct
154C		Coliseum - Construction
154D		Coliseum - Purchase of P,P&E
155A		Museums - Salaries & Wages
155B		Museums - Other Direct
155C		Museums - Construction
155D		Museums - Purchase of P,P&E
156A		Libraries - Salaries & Wages
156B		Libraries - Other Direct
156C		Libraries - Construction
156D		Libraries - Purchase of P,P&E
157A		Cult. & Recr. All Other - Salaries & Wages
157B		Cult. & Recr. All Other - Other Direct
157C		Cult. & Recr. All Other - Construction
157D		Cult. & Recr. All Other - Purchase of P,P&E
158A	UTILITY	Water & Sewer - Salaries & Wages		939,064	955,283	1,154,406	1,132,368	1,072,949
158B		Water & Sewer - Other Direct		3,542,003	4,538,070	2,874,466	3,269,471	2,765,054
158C		Water & Sewer - Construction		388,795				650,826
158D		Water & Sewer - Purchase of P,P&E		69,287		23,745	38,762	40,075
159A		Electric Power - Salaries & Wages		658,109	732,929	992,300	902,573	1,436,422
159B		Electric Power - Other Direct		18,368,115	17,946,187	15,885,984	15,862,175	14,814,109
159C		Electric Power - Construction		86,687			2,031,814	419,771
159D		Electric Power - Purchase of P,P&E		28,553		227,581	10,092
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		27,582	33,260	36,671	40,496	44,643
161D	SERVICE	Water & Sewer - Principal		58,500	156,799	123,500	123,500	123,500
162B		Electric - Interest & Fees		194,755	371,710	176,105
162D		Electric - Principal		174,132	368,900
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		511,703	445,755	151,656	215,592	203,552
166D		All Other - Principal		1,387,293	1,216,329	766,918	880,363	1,106,629
167B	PENSION	Direct Benefit Program - Other Direct
168B	FRINGE	Fringe Benefits Unallocated
169B		Separation Allowance - Law Enforcement		101,402	80,802	79,259	52,851	42,283
170B		Separation Allowance - Other Employees
171B		Supplemental Retirement - Law Enforcement		90,211	84,099	84,951	82,366	75,678
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	.	4,814,923.00	4,798,948.00	4,664,075.00	4,601,798.00	4,366,249.00
180.0		Current year's levy -- Motor vehicles (only)	.	373,999.00	411,174.00	428,712.00	413,442.00	404,173.00
181.0	PART 6	Uncollected Taxes - Current Year's Levy Except Mot Veh	.	33,549.00	14,793.00	16,339.00	18,621.00	17,604.00
182.0	OTHER	Uncollected Taxes - CY Levy -Motor Vehicles		33,967	41,074	44,126	45,570	41,648
183.0	DATA	Percentage of Taxes Collected - All Property %	0.00	98.70	98.93	98.81	98.72	98.76
184.0	DATA	Percentage of Taxes Collected - Exclude Motor Vehicles%	0.00	99.30	99.69	99.65	99.60	99.60
185.0		Percentage of Taxes Collected - Motor Vehicles %	0.00	90.92	90.01	89.71	88.98	89.70
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		8,570,924	9,658,470	10,056,957	8,174,920	7,602,695
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		39,295,006	40,108,539	43,380,544	36,740,453	33,844,049
194B	FISCAL	Amount - Subtract Refunding Bond Proceeds
194C	SUMMARY	Amount - Subtract Interfund Transfers In		170,205	643,151	825,000	755,295	200,000
194D		Amount - Net Revenues		39,124,801	39,465,388	42,555,544	35,985,158	33,644,049
		Calculated amount		39,124,801	39,465,388	42,555,544	35,985,158	33,644,049
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference
195A		Amount - Total Expenditures		40,314,918	40,252,373	34,339,679	36,702,031	33,151,123
195B		Amount - Subtract Pymts. to Refunded Debt Agent
195C		Amount - Subtract Interfund Transfers Out		170,205	643,151	825,000	755,295	200,000
195D		Amount - Net Expenditures		40,144,713	39,609,222	33,514,679	35,946,736	32,951,123
		Calculated amount		40,144,713	39,609,222	33,514,679	35,946,736	32,951,123
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference

401A	Part 10	Number of residential accounts billed Water					8,959
401B	Water /	Number of residential accounts billed Sewer					13,500
402A	Sewer	Amount processed and/or purchased in units Water		942,602	813,000	825,000	997,000
402B	Operations	Amount processed and/or purchased in units Sewer		779,697	743,000	755,432	968,420
403A		Total amount billed in units - Water		402,343	404,327	620,117	719,720
403B		Total amount billed in units - Sewer		359,161	359,507	391,143	391,128
404A		Of the total in 403A above how many units were Residential W		191,964	212,521	219,098	253,111
404B		Of the total in 403B above how many units were Residential S					11,860
405A		Of the total in 403 above, how many units were Outside Muni W					4,615
405B		Of the total in 403 above, how many units were Outside Muni S					8,959
406A		Of the total in 405A above how many units were Residential W					3,161
406B		Of the total in 405B above how many units were Residential S					279,459
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		1,973,441	1,996,956	2,260,959	2,236,759
408A		Dollars related to 403A above		2,385,090	2,233,101	2,388,352	2,299,252
408B		Dollars related to 403B above		1,069,980	1,099,367	1,124,342	1,210,906
409A		Dollars related to 404A above		1,353,316	1,375,056	1,573,194	1,529,042
409B		Dollars related to 404B above					107,031
410A		Dollars related to 405A above					55,764
410B		Dollars related to 405B above					84,141
411A		Dollars related to 406A above					40,176
411B		Dollars related to 406B above					299,078
412A		Dollars related to 407A above
412B		Dollars related to 407B above		4,501	4,586	4,531
421A		Number of residential accounts billed - Water		4,217	4,231	4,349
421B		Number of residential accounts billed - Sewer		1,001	1,047	801
422A		Number of non-residential & bulk accounts billed - Water		901	383	798
422B		Number of non-residential & bulk accounts billed - Sewer		2	2	2	2	2
423A		Estimated percentage of accounts outside of municipal limits



950.0		Official	Justin S. Merritt
951.0		Title	Finance Director
952.0		Date
953.0		Contact	Justin S. Merritt
954.0		Title	Finance Director
955.0		Phone	919-934-2116
956.0		Fax	919-989-8937
957.0		E-Mail:

Go to top of page Key Ratios of Electric Systems for The
Town of Smithfield

	2011	2010	2009	2008	2007	2006

Population	11,046	13,410	13,088	12,821	12,456	12,172
Power Agency Group	N.C. Easterrn Municipal Power Agency
Total Operating Revenues	$0	0	0	0	0	0
Group Weighted Average	#DIV/0!	15,757,433	15,168,623	13,678,216	13,200,898	12,603,524

% to Total Operating Revenues
Power Purchases	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Group Weighted Average	0.0%	81.8%	82.4%	80.0%	81.0%	80.6%

Other Operating Expenses	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Group Weighted Average	0.0%	14.8%	15.1%	17.5%	16.1%	16.4%

Operating Margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Group Weighted Average	100.0%	3.4%	2.5%	2.5%	2.9%	3.1%

Operating Transfers In	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Group Weighted Average	0.0%	0.0%	0.0%	0.3%	0.2%	0.0%

Operating Transfers Out	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Group Weighted Average Out	#DIV/0!	2.0%	2.1%	2.2%	2.4%	2.1%

Net Income	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Group Weighted Average	#DIV/0!	3.6%	2.7%	3.6%	2.7%	1.6%

Key Ratios and Cash Flow

Quick Ratio	N/A	3.1	3.0	2.1	3.1	4.0
Group Weighted Average	#DIV/0!	2.7	2.6	2.6	2.6	2.9

Coverage Ratio	0.00	0.00	0.00	0.00	0.00	0.00
Group Weighted Average	N/A	1.09	1.08	1.10	1.09	1.08

Days Sales in Receivables	0.0	0.0	0.0	0.0	0.0	0.0
Group Weighted Average	N/A	44.8	40.7	43.1	40.5	42.2

Days Cash on Hand	0.0	0.0	0.0	0.0	0.0	0.0
Group Weighted Average	N/A	64.0	62.5	73.6	71.7	75.3

Cash flow from Operations	$0	657,885	104,794	855,021	625,118	775,681

Capital Expenditures:	$0	458,082	0	23,745	38,762	690,901


	2011	2010	2009	2008	2007	2006
Capital Contributions: Excluded from Income Above	$0	0	0	0	0	0

Operating Transfers to the General Fund as a % of GF Revenues	2011	2010	2009	2008	2007	2006
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

	2005	2004	2003	2002	2001	2000
	0.73%	1.14%	0.69%	0.83%	0.87%	0.79%

Gross Electric Fund Assets as Cost	$0	0	0	0	0	0
Estimated Tax Loss from Municipal Ownership of Utility	$0	$0	0	0	0	0
Tax Rate Equivalent	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000

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

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

Tax Rate Adjusted for Assessed to Sales Ratio	0.5625	0.5133	0.4876	0.5088	0.5227	0.5531

Tax Rate Adjusted Excluding Transfers	0.5625	0.5133	0.4876	0.5088	0.5227	0.5531

Weighted Average Group Rate Adjusted	0.4336	0.4230	0.3911	0.3938	0.4015	0.4080

Weighted Average Non Electric Adjusted Rate	0.4336	0.4191	0.4007	0.4107	0.4309	0.4353

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 %	21.89%	26.36%	20.66%	10.64%	0.00%
Group average FBA %	37.01%	38.75%	39.96%	38.21%	58.45%
State average Electric/Non Electric Group FBA %	33.92%	35.35%	34.33%	33.60%	38.21%
State average FBA %	36.54%	36.35%	37.01%	37.47%	38.21%

Municipal Population Group: Electric 10,000 to 49,999

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2006 2007 2008 2009 2010

Municipality 98.76% 98.72% 98.81% 98.93% 98.70%

Pop. Group 96.74% 96.51% 96.79% 96.54% 96.58%

Statewide 97.55% 97.58% 97.56% 97.34% 97.36%

Municipal Population Group: Electric 10,000 to 49,999

	2006	2007	2008	2009	2010
Municipality	98.76%	98.72%	98.81%	98.93%	98.70%
Pop. Group	96.74%	96.51%	96.79%	96.54%	96.58%
Statewide	97.55%	97.58%	97.56%	97.34%	97.36%

Municipal Population Group: Electric 10,000 to 49,999

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2007 2008 2009 2010 2011

Municipality 155 136 120 104 0

Pop. Group 166 153 130 132 #N/A

Statewide 478 456 455 449 #N/A

Municipal Population Group: 10,000 to 24,999

	2007	2008	2009	2010	2011
Municipality	155	136	120	104	0
Pop. Group	166	153	130	132	#N/A
Statewide	478	456	455	449	#N/A

Municipal Population Group: 10,000 to 24,999

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2006 2007 2008 2009 2010

Property Tax $394 413 400 398 386

Utility 1,758 1,774 1,708 1,818 1,855

Sales Tax 160 175 163 136 116

Sales & Services 157 165 175 216 257

Intergovernmental 158 107 100 196 179

Debt Proceeds 21 28 43 55 50

Other Miscellaneous 116 227 730 112 74

Total $2,764 2,889 3,319 2,931 2,917

	2006	2007	2008	2009	2010
Property Tax	$394	413	400	398	386
Utility	1,758	1,774	1,708	1,818	1,855
Sales Tax	160	175	163	136	116
Sales & Services	157	165	175	216	257
Intergovernmental	158	107	100	196	179
Debt Proceeds	21	28	43	55	50
Other Miscellaneous	116	227	730	112	74
Total	$2,764	2,889	3,319	2,931	2,917

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2010
2010

Category Revenue
Per Capita

Property Tax $5,176,144
$386

Water/Sewer 0
0

Electric 4,983,251
372

Other Utilities 19,895,034
1,484

Sales Tax 1,549,108
116

Sales & Services 3,441,082
257

Intergovernment 2,399,822
179

Debt Proceeds 674,358
50

Miscellaneous 996,964
74

Total $39,115,763
$2,917

Municipal Population Group: Electric 10,000 to 49,999

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2010
2010

Category Expenditures
Per Capita

General Government $2,382,311
$178

Water/Sewer 0
0

Electric 4,939,149
368

Other Utilities 19,141,464
1,427

Debt Service 2,353,965
176

Transportation 1,508,241
112

Public Safety 6,394,863
477

Other 3,424,720
255

Total $40,144,713
$2,994

Municipal Population Group: Electric 10,000 to 49,999

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2010
2010

Category Expenditures
Per Capita

Salaries & Wages $8,181,844
$610

Water/Sewer Capital 0
0

Electric Capital 458,082
34

Other Capital 1,890,684
141

Other Operating 29,614,103
2,209

Total $40,144,713
$2,994

Municipal Population Group: Electric 10,000 to 49,999

Last Updated 1/31/2012 4:29:46 PM



	2010	2010
Category	Revenue	Per Capita
Property Tax	$5,176,144	$386
Water/Sewer	0	0
Electric	4,983,251	372
Other Utilities	19,895,034	1,484
Sales Tax	1,549,108	116
Sales & Services	3,441,082	257
Intergovernment	2,399,822	179
Debt Proceeds	674,358	50
Miscellaneous	996,964	74
Total	$39,115,763	$2,917

Municipal Population Group: Electric 10,000 to 49,999

North CarolinaDepartment of State TreasurerFinancial InformationTown of Smithfield

Financial Graphs and Comparisons

North Carolina
Department of State Treasurer
Financial Information
Town of Smithfield