North Carolina
Department of State Treasurer
Financial Information
City of Southport



Financial Profile | General Fund | Enterprise Funds | Cash, Investments and Financing
Annual Financial Information Report Detail | Water/Sewer Information
Electric System Information | Financial Graphs and Comparisons
Download Excel 97 Version of Financial Summary

Institute of Government North Carolina Cities Web Site

Go to North Carolina County and Municipal Financial Information Home Page
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Note: All data unless otherwise specified is for the 12 month period ending June, 30th of the designated year


Municipality Revenues and Expenditures Financial Profile
Go to top of page		201120102009200820072006

Revenues by Source







Property Tax$1,694,117 1,703,615 1,630,132 1,364,426 1,254,446 1,161,522


Utility 9,720,211 9,107,700 8,934,771 8,953,918 8,759,252 9,118,949


Sales Tax 476,149 481,740 601,296 694,100 697,250 644,209


Sales & Services 439,603 381,221 342,255 361,032 343,284 614,331


Intergovernmental 2,531,830 2,312,069 1,198,080 860,118 728,911 2,171,265


Debt Proceeds 346,847 871,001 10,932 33,322 37,233 1,342,149


Other Miscellaneous 480,267 454,706 4,175,911 624,710 1,296,137 692,463


Total$15,689,024 15,312,052 16,893,377 12,891,626 13,116,513 15,744,888










Expenditures by Function







Utility$9,982,552 10,362,509 8,937,277 8,990,926 9,103,947 11,942,384


Debt Service 1,245,699 346,300 385,560 389,968 439,371 202,907


Transportation 274,428 197,053 224,172 236,558 417,431 299,522


General Government 1,121,524 1,155,500 1,214,680 1,267,819 1,225,523 1,217,932


Public Safety 2,109,472 4,703,493 1,646,288 1,503,366 2,099,661 1,217,665


Other 436,483 848,204 425,202 398,332 385,835 347,631


Total$15,170,158 17,613,059 12,833,179 12,786,969 13,671,768 15,228,041










Expenditures by Object







Salaries & Wages$1,968,963 2,130,346 2,020,066 1,997,147 1,939,310 1,666,561


Capital Outlay 2,118,836 5,970,205 1,299,383 2,127,498 2,954,983 5,641,929


Other Operating + Debt Service 11,082,359 9,512,508 9,513,730 8,662,324 8,777,475 7,919,551


Total$15,170,158 17,613,059 12,833,179 12,786,969 13,671,768 15,228,041



















Per Capita Revenues by Source







Property Tax$594 542 550 465 439 434


Utility 3,408 2,898 3,014 3,052 3,063 3,406


Sales Tax 167 153 204 237 243 242


Sales & Services 154 121 115 123 120 229


Intergovernmental 888 736 404 293 255 811


Debt Proceeds 122 277 4 11 13 501


Other Miscellaneous 168 145 1,409 213 453 259


Total$5,501 4,872 5,700 4,394 4,586 5,882










Per Capita Expenditures by Function







Utility$3,500 3,297 3,015 3,064 3,183 4,461


Debt Service 437 110 130 133 154 76


Transportation 96 63 76 81 146 112


General Government 393 368 411 432 428 454


Public Safety 740 1,496 555 512 734 455


Other 153 270 143 136 135 130


Total$5,319 5,604 4,330 4,358 4,780 5,688










Per Capita Expenditures by Object







Salaries & Wages$690 678 682 681 678 623


Capital Outlay 743 1,900 438 725 1,033 2,108


Other Operating 3,886 3,026 3,210 2,952 3,069 2,957


Total$5,319 5,604 4,330 4,358 4,780 5,688










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


Number of Municipalites in Group 21 19 20 21 20 20


Average Population In Group 5,155 4,773 4,967 5,139 5,149 5,074


City of Southport Population 2,852 3,143 2,964 2,934 2,860 2,677

Group Average Per Capita Revenues by Source







Property Tax 335 308317305301285


Utility 1,926 1,8601,7982,0691,9071,868


Sales Tax 123 114134158162152


Sales & Services 120 9810012210499


Intergovernmental 321 242221197218223


Debt Proceeds 27 120122864424


Other Miscellaneous 170 118165237227136


Total 3,022 2,8602,8573,1742,9632,787










Group Average Per Capita Expenditures by Function







Utility 1,595 1,6871,6891,9071,7001,712


Debt Service 125 13610214610999


Transportation 145 106125131148136


General Government 205 189192161181163


Public Safety 421 399359446405362


Other 450 385344399365329


Total 2,941 2,9022,8113,1902,9082,801










Group Average Per Capita Expenditures by Object







Salaries & Wages 639 597631654595593


Capital Outlay 343 274258469375348


Other Operating 1,952 2,0261,9182,0671,9381,860


Total 2,934 2,8972,8073,1902,9082,801


















General Fund
Go to top of page		201120102009200820072006

General Fund revenues$4,410,748 4,138,831 4,139,752 3,711,018 3,550,597 3,497,921

General Fund expenditures 3,946,927 3,868,767 3,628,153 3,564,003 4,288,657 3,158,811

Operating transfers in - - - - - -

Operating transfers out - - - - - -

Capital leases and installment purchase proceeds 39,210 64,224 - 16,670 380,451 58,201

Other items - - - - - -

Excess of revenues and other sources over (under) expenditures and other uses 503,031 334,288 511,599 163,685 (357,609) 397,311










Fund balance available (FBA):







In dollars$0 2,793,515 2,511,036 1,990,982 1,811,383 2,171,041


FBA as a % of GF Net Expenditures:







 Unit's FBA %0.0073.4369.2156.1346.3570.02


 Group weighted average FBA %38.1747.3441.3739.9437.6839.10


 State weighted average Electric Group67.1333.6034.3335.3533.9235.62


 State weighted average FBA %29.0137.4737.0336.3536.5436.96

















Enterprise Funds:
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Water/Sewer, Electric, Capital Projects













Combined financial results:







Working capital$3,918,484 2,129,392 2,230,295 2,359,742 2,519,788 2,703,669


Quick ratio3.35 2.37 3.48 4.22 3.09 3.47


Net income1,511,779 1,491,974 (1,157,602)2,296,200 1,526,595 4,693,659


Cashflow from operations1,160,606 895,450 497,109 (59,974)638,977 569,247


Depreciation & Amortization Expense591,053 568,816 565,404 494,380 437,900 393,494


























Cash, Investments and Financing
Go to top of page		201120102009200820072006











Population at July 1st of the Previous Year2,8523,1432,9642,9342,8602,677


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


Cash &Investments$8,033,060 $8,393,848 $4,981,708 $5,960,879 $6,333,003 $6,678,446


Investment Earnings19,101 24,010 50,369 212,390 310,784 192,877


Tax Rate Equivalent0.00200.00260.00540.02360.06690.0453


Tax Rate Equivalent Group weighted average0.00600.01030.02400.05480.07220.0561


Tax Rate Equivalent Statewide weighted average0.01560.02470.01330.05240.09200.0573


Latest year of Revaluation 200720072007200720032003


January 1, Prior Year Assessed Valuation$943,829,489 940,408,455 927,464,608 899,551,924 464,354,217 425,860,949


Tax Rate0.18000.18000.18000.15000.27000.2700


Tax Rate Group weighted average0.39140.37330.37810.38340.40660.4094


Tax Rate State Wide0.41220.40900.42620.42380.44500.4321


Assessment -to-Sales Ratio97.27113.5998.0799.2962.5080.00


Assessment -to-Sales Ratio Group weighted average98.1396.0190.5886.6889.3590.83


Assessment -to-Sales Ratio Statewide101.4798.2790.8188.5388.4192.28


Assessed Valuation Adjusted for Assesment to Sales Ratio$970,319,203 827,897,222 945,716,945 905,984,413 742,966,747 532,326,186


EffectiveTax Rate0.17510.20450.17650.14890.16880.2160


Group weighted average Effective Tax Rate0.38410.35840.34250.33230.36330.3719


Statewide weighted average Effective Tax Rate0.41830.40200.38700.37520.39340.3987


Percent Collected95.880096.260095.540096.920097.670098.0400


Percent Collected Group weighted average96.2296.1895.8295.8996.0095.42


Percent Collected Statewide97.5997.3697.3497.5697.5897.55


Percent Collected Excluding Motor Vehicles96.0696.4795.7497.2498.2398.62


Percent Collected Excluding Motor Vehicles Group weighted average97.0797.2096.8497.2197.3896.96


Percent Collected Excluding Motor Vehicles Statewide weighted average98.3598.2398.3098.6598.5998.61


Percent Collected Motor Vehicles Only 88.4787.2887.5788.3587.8788.51


Percent Collected Motor Vehicles Only Group weighted average82.3382.1682.5581.3682.2880.71


Percent Collected Motor Vehicles Only Statewide weighted average 87.2886.3486.5586.7486.7186.80


Tax Uncollected105,603 97,029 108,782 85,848 88,697 80,965


Tax Rate Equivalent0.01120.01030.01170.00950.01910.0190


Dominant County: Brunswick






Debt Information








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


Ratings:







 Fitch







 Moody'sBaa1Baa1Baa1Baa1Baa1Baa1


 S & P
















General Obligation Debt (GO) where the taxing power of the entrire municipality is pledged to pay the obligation




 Enterprise GO Debt$57,500 79,500 101,500 123,500 180,500 252,000


General Government GO Debt0 0 0 0 0 0


Total General Obligation Debt57,500 79,500 101,500 123,500 180,500 252,000


Per Capita$20 25 34 42 63 94


Total Per Capita for the Population Group113 107 158 152 149 162


Total Per Capita Statewide450 449 455 456 478 495


Total per Assessed Valuation Adjusted for Current Year Sales0.0059%0.0096%0.0107%0.0136%0.0243%0.0473%


 Total per Assessed Valuation Adjusted for Current Year Sales- Group Average0.0898%0.0802%0.1078%0.1101%0.1223%0.1565%


 Total per Assessed Valuation Adjusted for Current Year Sales - Statewide0.4280%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 Government3,594,800 3,784,000 3,784,000 0 0 0


Total*$3,594,800 3,784,000 3,784,000 0 0 0


* The total only includes the contracts that require Local Government Commission approval.




Revenue Bond Debt $1,726,600 1,092,536 1,160,820 1,229,103 1,296,771 0


















Annual Financial Information Report Detail
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LineSectionDescription201120102009200820072006

Population at July 1st of the Previous Year Adjusted for Boundry Changes2,8523,1432,9642,9342,8602,677









1.5AFISCAL Governmental Activities Assets15,606,47114,436,67313,190,3448,833,9588,534,5175,594,828
1.5BSUMMARYGovernmental Activities Liabilities4,318,5305,073,4434,138,358456,159654,243381,621
3.5A
Business Type Activities Assets26,771,40526,509,22523,218,31722,428,70120,707,87519,107,552
3.5B
Business Type Activities Liabilties4,152,3175,822,8574,023,9232,076,7052,652,0792,572,379
6.5A
Fiduciary Funds Assets





6.5B
Fiduciary Funds Liabilties





10.0PART 2Current Collections of Unit -Wide Levy1,633,5021,626,0691,587,4391,332,1441,230,2771,127,999
11.0TAXCurrent Collections of Special Tax Districts





12.0REVENUESPrior Years' Levy Collections46,45961,61331,40125,37123,64423,627
13.0
Penalties and Interest14,15615,93311,2926,9115259,896
14.0
Collections of Taxes Previously Written Off





15.0
Animal Tax1,5301,5652,0202,4073,2554,350
15.1
Solid Waste Disposal Tax2,8131,3371,365


16.0
1% Local Government Option Sales Tax228,961226,686255,847277,892289,103311,024
17.0
1/2% Local Government Option Sales Tax (40)131,998125,055134,608145,181140,609122,691
18.0
1/2% Local Government Option Sales Tax (42)117,059109,379132,928143,625139,01490,536
18.5
1/2% Local Government Option Sales Tax (44)-1,86920,62077,913127,402128,524119,958
19.0
Privilege Licenses20,60017,41218,33817,91415,68516,890
19.2
Privilege -- All other privileges and pemits





20.0
Auto Licenses





21.0
Vehicle Tax for Public Transportation





22.0
Other Licenses


7,95869,93537,495
23.0
Local Occupancy Tax52,16346,23517,77713,14512,18713,385
24.0
Prepared Food Tax





25.0
911 Charges





26.0
Gross Short Term lease and Rental Tax





27.0FEDERALPayments In Lieu of Taxes - Federal





28.0INTERGOVEquitable Sharing of Fed. Forfeited Prop.





29.0REVENUESGeneral Government





30.0
Public Safety

79,593

95,969
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





39.0STATEPayments In Lieu of Taxes - State





40.0INTERGOVUnauthorized Substance Tax





41.0REVENUESTransitional Hold Harmless121,72198,44138,361


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 Tax304,290293,000287,351250,792187,699175,042
45.0
Beer and Wine Tax13,8524,22713,17713,17412,09711,462
46.0
Powell Bill99,39295,454106,024116,932100,870100,262
50.0
Court Fees - Facilities and Arrest Fees




133
51.0
General Government





52.0
Public Safety1,54215,5096,21451,21941,83964,542
53.0
Transportation - Streets





54.0
Transportation - All Other





55.0
Environmental Protection1,180,5941,151,843


1,686,000
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 Recreation154,36328,41011,631


61.0LOCALPayments in Lieu of Taxes - Local





62.0INTERGOVGeneral Government





63.0REVENUESPublic Safety656,076625,185655,729428,001386,40637,855
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





71.0PERMITS Building Permits83,05468,958106,926106,371107,743183,356
72.0& FEESInspection Fees4501,0351,7802,5604,155
72.1
Amusements licensing and permit taxes





73.0
Other Permits8,55910,0603,03023,01014,203
74.0SALES &Parking Revenues





75.0SERVICESRents and Royalties139,609131,190138,373130,643127,856138,787
76.0
Airport





77.0
Fire Protection Charges17,00017,000
17,00017,000335,667
78.0
Solid Waste107,59593,27192,10691,86388,45084,966
79.0
Ambulance and Rescue Squad Charges132,87994,10381,22067,89759,99722,170
80.0
Cemeteries7,9059,7459,35013,98919,73517,545
81.0
Recreation Service Revenues26,05625,85218,17616,63016,04315,196
82.0
Library Service Revenues





83.0
Other Cultural and Rec Service Revenues





84.0
Mass Transit - City Operated





85.0
Other Sales and Services
1,865


21,900
86.0UTILITYWater and Sewer Charges2,180,4382,108,0682,143,1262,842,2342,553,3342,843,788
87.0REVENUESElectric Charges7,539,7736,997,7676,791,6456,111,6846,205,9186,253,261
88.0
Gas Charges





88.1
Storm Water Fees


2,65017,1755,300
89.0MISC.Investment Earnings - Bond Proceeds





90.0REVENUESInvestment Earnings - All Other Funds19,10124,01050,369212,390310,784192,877
91.0
Special Assessments





92.0
Private Contributions and Donations17,4073,25419,7837,8229,61516,528
93.0
Sales of Materials and Fixed Assets
3874,5475,2091,73916,303
94.0
Sale of Real Property





95.0
Nongovt Contr For Streets & Traffic Signals





96.0
ABC Mixed Drink Surcharge 35,28333,94030,96831,94029,40631,361
97.0
ABC Profit Distribution211,469193,686139,403141,080130,289116,417
98.0
Other Miscellaneous Revenues61,96236,07610,93233,32237,23352,280
99.0
Proceeds of Sale of Bonds and Notes284,885834,925


1,289,869
100.0
Proceeds of Capital Leases/Install Purchases39,21064,2243,784,00073,264584,16958,201
101.0
Other





102.0NON-REVSchool - Current Levy Collections





103.0RECEIPTSPrior Years' Levy Collections





104.0
Tax Collections for Other Units





105.0
Utilities Customer's Deposits


-31,872-2,8046,889
106.0
Deposits Other than Utility





107.0
Prepaid Taxes


103-10,0978,879
108.0
Prepaid Privilege Licenses





109APART 4Governing Body - Salaries & Wages30,54529,73032,62532,44135,92433,010
109BGENERALGoverning Body - Other Direct182,017109,590154,966148,825118,697169,704
109CGOVTGoverning Body - Construction





109D
Governing Body - Purchase of P,P&E




8,094
110A
Administration - Salaries & Wages216,411236,611223,043209,202217,731192,753
110B
Administration - Other Direct240,211224,669227,812218,104227,691225,156
110C
Administration - Construction





110D
Administration - Purchase of P,P&E




15,363
111A
Elections - Salaries & Wages





111B
Elections - Other Direct
1,412


1,020
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 & Wages57,77556,02681,72877,65676,82264,987
115B
Public Buildings - Other Direct140,162201,853204,018216,125278,134239,152
115C
Public Buildings - Construction





115D
Public Buildings - Purchase of P,P&E


76,9567,19812,345
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 & Wages55,21251,95348,09449,91753,57134,774
117B
Central Services - Other Direct84,84562,76666,79060,86163,21755,928
117C
Central Services - Construction





117D
Central Services - Purchase of P,P&E

5,8635,292
5,653
118A
Gen. Govt. All Other - Salaries & Wages55,696105,87489,76174,81971,38436,556
118B
Gen. Govt. All Other - Other Direct58,65075,01679,98097,62175,15497,245
118C
Gen. Govt. All Other - Construction





118D
Gen. Govt. All Other - Purchase of P,P&E




26,192
119APUBLICPolice & Comm - Traffic Control - Salaries and Wages438,305556,479480,822462,792423,042383,579
119BSAFETYPolice & Comm - Traffic Control - Other Direct356,565286,358316,449323,510301,384241,970
119C
Police & Comm - Traffic Control - Construction





119D
Police & Comm - Traffic Control - Purchase of P,P&E48,38680,41319,88320,60717,81246,149
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 & Wages84,01762,60659,09448,53148,31927,383
122B
Fire - Other Direct209,052159,772135,270170,349211,710138,536
122C
Fire - Construction457,5023,137,080
47,719

122D
Fire - Purchase of P,P&E
4,190235,515
646,0978,798
123A
Inspectors - Salaries & Wages187,372137,822126,933138,809130,448118,886
123B
Inspectors - Other Direct117,42770,15676,71891,73790,80276,654
123C
Inspectors - Construction





123D
Inspectors - Purchase of P,P&E



23,989
124A
Rescue Units - Salaries & Wages80,67677,59483,49475,86870,98032,966
124B
Rescue Units - Other Direct86,51190,98274,50786,53799,52584,477
124C
Rescue Units - Construction





124D
Rescue Units - Purchase of P,P&E




27,156
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





127ATRANSPORTraffic Engineering - Salaries & Wages





127BTATIONTraffic Engineering - Other Direct





127C
Traffic Engineering - Construction





127D
Traffic Engineering - Purchase of P,P&E





128A
Streets and Highways - Salaries & Wages72,98592,73987,80989,14389,04582,647
128B
Streets and Highways - Other Direct94,63497,283104,954111,434144,633127,031
128C
Streets and Highways - Construction





128D
Streets and Highways - Purchase of P,P&E



91,354
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 Direct106,8097,03131,40935,98185,39976,619
130C
Powell Bill - Construction





130D
Powell Bill - Purchase of P,P&E



7,00013,225
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





136AENVIRONSolid Waste - Salaries & Wages





136BMENTALSolid Waste - Other Direct119,83393,70895,46191,24883,222109,355
136CPROTECTIONSolid 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

286392,204
138C
Cemeteries - Construction





138D
Cemeteries - Purchase of P,P&E


21,350

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





140AECONOMICPlanning & Zoning - Salaries & Wages





140B& PHYSICALPlanning & Zoning - Other Direct





140CDEVELOPPlanning & 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





146AHUMANHealth - Salaries & Wages





146BSERVICESHealth - 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





153ACULTURE Recreation & Parks - Salaries & Wages153,550147,164139,349140,206126,67992,432
153BRECREATIONRecreation & Parks - Other Direct163,100129,229179,559115,785149,90986,637
153C
Recreation & Parks - Construction
439,331



153D
Recreation & Parks - Purchase of P,P&E
38,77210,80529,10423,82159,207
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





158AUTILITYWater & Sewer - Salaries & Wages344,735398,001396,180414,855427,194415,326
158B
Water & Sewer - Other Direct 1,418,7081,233,3911,292,2211,107,4251,167,216900,699
158C
Water & Sewer - Construction1,373,7802,086,198208,585475,00131,5502,010,743
158D
Water & Sewer - Purchase of P,P&E89,264
123,000398,950908,6462,210,290
159A
Electric Power - Salaries & Wages191,684177,747171,134182,908168,171151,262
159B
Electric Power - Other Direct6,414,4776,282,9516,050,4255,359,2685,203,6545,055,350
159C
Electric Power - Construction

695,732

1,198,714
159D
Electric Power - Purchase of P,P&E149,904184,221
1,052,5191,197,516
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





161BDEBTWater & Sewer - Interest & Fees28,70833,94239,26847,02658,81322,530
161DSERVICEWater & Sewer - Principal754,469210,761221,337177,870213,207104,316
162B
Electric - Interest & Fees

342556

162D
Electric - Principal

6,8026,5887,144
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 & Fees180,5845,3019,33813,7365,4235,538
166D
All Other - Principal281,93896,296108,473144,192154,78470,523
167BPENSIONDirect Benefit Program - Other Direct





168BFRINGEFringe Benefits Unallocated





169B
Separation Allowance - Law Enforcement21,96114,45814,45814,45814,45814,458
170B
Separation Allowance - Other Employees





171B
Supplemental Retirement - Law Enforcement21,69825,58323,14522,44921,09516,653
172B
Fringe Benefits Other





173AINTERGOVMulti-Cnty Libr Dis,Cnty,Or Other - Recipient





173BEXPENDMulti-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 vehicles1,663,743.1,650,485.001,621,883.001,325,084.001,192,045.001,084,602.00
180.0
Current year's levy -- Motor vehicles (only)39,986.38,773.0039,632.0049,329.0067,563.0065,969.00
181.0PART 6Uncollected Taxes - Current Year's Levy Except Mot Veh65,617.58,256.0069,150.0036,519.0021,134.0014,996.00
182.0OTHERUncollected Taxes - CY Levy -Motor Vehicles4,6104,9334,9265,7498,1977,577
183.0DATAPercentage of Taxes Collected - All Property %95.8896.2695.5496.9297.6798.04
184.0DATAPercentage of Taxes Collected - Exclude Motor Vehicles%96.0696.4795.7497.2498.2398.62
185.0
Percentage of Taxes Collected - Motor Vehicles %88.4787.2887.5788.3587.8788.51
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





189APART 7Cash On Hand & in Bank - Debt Service





189BCASH &Cash On Hand & in Bank - Construction Bond





189CINVESTCash On Hand & in Bank - All Other8,033,0608,393,8484,981,7085,960,8796,333,0036,678,446
190A PARTAppropriations Made During FY - B(1) - B(7)





190B 8Expenditures 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





194APART 9Amount - Total Revenues15,691,83715,313,38916,894,74213,072,83313,116,51315,744,888
194BFISCALAmount - Subtract Refunding Bond Proceeds





194CSUMMARYAmount - Subtract Interfund Transfers In


181,207

194D
Amount - Net Revenues15,691,83715,313,38916,894,74212,891,62613,116,51315,744,888


Calculated amount15,691,83715,313,38916,894,74212,891,62613,116,51315,744,888


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference





195A
Amount - Total Expenditures15,170,15817,613,05912,833,17912,968,17613,671,76815,228,041
195B
Amount - Subtract Pymts. to Refunded Debt Agent





195C
Amount - Subtract Interfund Transfers Out


181,207

195D
Amount - Net Expenditures15,170,15817,613,05912,833,17912,786,96913,671,76815,228,041


Calculated amount15,170,15817,613,05912,833,17912,786,96913,671,76815,228,041


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference














401APart 10Number of residential accounts billed Water



49,569
401BWater /Number of residential accounts billed Sewer



1,853
402ASewer Amount processed and/or purchased in units Water
184169204,355207,619
402BOperationsAmount processed and/or purchased in units Sewer

10096,000121,451
403A
Total amount billed in units - Water
158148180,437183,590
403B
Total amount billed in units - Sewer

9293,980101,209
404A
Of the total in 403A above how many units were Residential W

148180,437183,590
404B
Of the total in 403B above how many units were Residential S



49,569
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



49,569
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 bulk985,5962,055,742893,197983,417994,636
408A
Dollars related to 403A above1,153,222
1,100,289756,108825,871
408B
Dollars related to 403B above

893,197983,417994,636
409A
Dollars related to 404A above

1,100,289756,108825,871
409B
Dollars related to 404B above



268,551
410A
Dollars related to 405A above





410B
Dollars related to 405B above



268,551
411A
Dollars related to 406A above





411B
Dollars related to 406B above





412A
Dollars related to 407A above





412B
Dollars related to 407B above2,6552,6172,5262,566

421A
Number of residential accounts billed - Water1,998
1,9291,880

421B
Number of residential accounts billed - Sewer





422A
Number of non-residential & bulk accounts billed - Water





422B
Number of non-residential & bulk accounts billed - Sewer222222
423A
Estimated percentage of accounts outside of municipal limits
































950.0
OfficialJim Philyaw

951.0
TitleFinance Officer

952.0
Date11/18/201112/16/201011/28/200911/24/200812/19/200701/10/2007
953.0
ContactJim Philyaw

954.0
TitleFinance Officer

955.0
Phone910-457-7906




956.0
Fax910-457-7905




957.0
E-Mail:

















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Key Ratios and Operations Statistics of Water and Sewer Systems for


City of Southport













201120102009200820072006








Population
2,8523,1432,9642,9342,8602,677
Population Group
Electric 2,500 to 9,999 Electric 2,500 to 9,999 Electric 2,500 to 9,999 Electric 2,500 to 9,999 Electric 2,500 to 9,999 Electric 2,500 to 9,999
Total Operating Revenues
$000000
Total Operating Revenues Per Capita
$000000
Group Weighted Average Revenues Per Capita0311281272266255
State Weighted Average Revenues Per Capita7272252255255249








% to Total Operating Revenues






Operating Expenses
0.00%0.00%0.00%0.00%0.00%0.00%
Group Weighted Average
#DIV/0!95.36%95.68%88.70%91.65%96.26%
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
#DIV/0!4.64%4.32%11.30%8.35%3.74%
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
#DIV/0!1.17%0.35%0.62%0.78%0.89%
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
#DIV/0!3.87%8.55%13.76%7.81%11.54%
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
#DIV/0!8.08%-1.99%9.40%10.26%13.89%
State Weighted Average
643.66%15.82%-9.92%18.20%25.61%24.40%








Key Ratios and Cash Flow














Quick Ratio
1.610.611.391.660.810.86
Group Weighted Average
3.362.732.942.502.582.11
State Weighted Average
4.023.212.822.962.912.83








Days Sales in Receivables
8.0N/AN/AN/AN/AN/A
Group Weighted Average
0.043.140.346.046.944.9
State Weighted Average
1.257.958.556.761.659.8








Days Cash on Hand
0.00.00.00.00.00.0
Group Weighted Average
0.0292.3263.0272.9277.0229.9
State Weighted Average
-16.4614.6560.8588.9647.0571.9








Cash flow from Operations
$291,015329,137257,223158,619-24,385133,540








Debt to Equity
0.000.000.000.000.000.00
Group Weighted Average
#DIV/0!0.180.140.140.110.12
State Weighted Average
0.220.590.540.540.550.55








Debt per Capita
000000
Group Weighted Average
0374248220171179
State Weighted Average
8897783781761733








Capital Expenditures:
201120102009200820072006


$000000










2005200420032002



$592,002423,471140,522285,972









Capital Contributions: Excluded from income above
$000000
















Operating Statistics














Estimated population of the areas served Water00002,532NA
Estimated population of the areas served Sewer00001,853NA








Number of Gallons of Water Processed (000) omitted0184169204,355207,619NA
Number of Gallons of Sewage Processed (000) omitted0010096,000121,451NA








Number of Gallons of Water Billed (000) omitted0158148180,437183,590NA
Number of Gallons of Sewage Billed (000) omitted009293,980101,209NA








Ratio of Water Billed to Water Processed
0.855350.876780.882960.88426NA
Ratio of Sewage Billed to Sewage Processed

0.920000.978960.83333NA








Total Revenue from Water Sales985,5962,055,742893,197983,417994,636NA
Total Revenue from Sewage Sales1,153,22201,100,289756,108825,871NA








Water Revenue per 1000 gallons of Sales




392.82622NA
Sewage Revenue per 1000 gallons of Sales




445.69401NA








Group Average Sales per thousand Gallons Water$0.01210$63.97030$5.52170$26,467.24286$36.77508NA
Group Average Sales per thousand Gallons Sewage$0.01218$82.09833$7.00803$36,055.06238$90.14879NA








State Average Sales per thousand Gallons Water$0.00011$39.04205$39.12016$9.21753$4,470.42307NA
State Average Sales per thousand Gallons Sewage$0.00012$47.04724$56.85673$42.71639$3,516.06083NA








Residential Water Sales per thousand Gallons

6,035.114865.450205.41770NA
Residential Sewage Sales per thousand Gallons

11,959.663048.045418.16005NA








Water Sales per thousand Gallons outside Municipal Limits



5.41772NA
Sewage Sales per thousand Gallons outside Municipal Limits




NA








Total Water Sales per thousand gallons for Redistribution$0.000000.000000.000000.000000.00000NA
Total Sewage Sales per thousand gallons for Redistribution$0.000000.000000.000000.000000.00000NA



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Key Ratios of Electric Systems for The



City of Southport













201120102009200820072006








Population
2,8523,1432,9642,9342,8602,677
Power Agency Group
N.C. Easterrn Municipal Power Agency
Total Operating Revenues
$000000
Group Weighted Average
17,364,19815,757,43315,168,62313,678,21613,200,89812,603,524








% 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
96.0%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
4.0%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
0.2%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
2.5%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
2.9%3.6%2.7%3.6%2.7%1.6%








Key Ratios and Cash Flow














Quick Ratio
6.44.64.65.43.85.3
Group Weighted Average
2.72.72.62.62.62.9








Coverage Ratio
0.000.000.000.000.000.00
Group Weighted Average
N/A1.091.081.101.091.08








Days Sales in Receivables
0.00.00.00.00.00.0
Group Weighted Average
N/A44.840.743.140.542.2








Days Cash on Hand
0.00.00.00.00.00.0
Group Weighted Average
67.964.062.573.671.775.3








Cash flow from Operations
$869,591566,313239,886-218,593663,362435,707








Capital Expenditures:
$1,463,0442,086,198331,585873,951940,1964,221,033


















201120102009200820072006
Capital Contributions: Excluded from Income Above
$000000








Operating Transfers to the General Fund as a % of GF Revenues
201120102009200820072006


0.00%0.00%0.00%0.00%0.00%0.00%










200520042003200220012000


0.99%0.90%0.94%0.83%0.50%0.21%








Gross Electric Fund Assets as Cost
$000000
Estimated Tax Loss from Municipal Ownership of Utility
$0$00000
Tax Rate Equivalent
0.00000.00000.00000.00000.00000.0000








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
0.00000.00000.00000.00000.00000.0000








Tax Rate Adjusted for Assessed to Sales Ratio
0.17510.20450.17650.14890.16880.2160








Tax Rate Adjusted Excluding Transfers
0.17510.20450.17650.14890.16880.2160








Weighted Average Group Rate Adjusted
0.38410.35840.34250.33230.36330.3719








Weighted Average Non Electric Adjusted Rate
0.28380.26240.24860.24270.26020.2921



Financial Graphs and Comparisons


Go to top of page
Analysis of Available Fund Balance: General Fund

20072008200920102011
Unit's FBA %46.35%56.13%69.21%73.43%0.00%
Group average FBA %37.68%39.94%41.37%47.34%38.17%
State average Electric/Non Electric Group FBA %33.92%35.35%34.33%33.60%67.13%
State average FBA %36.54%36.35%37.68%37.47%29.01%






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

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Analysis of Property Tax

20072008200920102011
Municipality97.67%96.92%95.54%96.26%95.88%
Pop. Group96.00%95.89%95.82%96.18%96.22%
Statewide97.58%97.56%97.34%97.36%97.59%






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






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Analysis of General Obligation Debt

20072008200920102011
Municipality6342342520
Pop. Group149152158107113
Statewide478456455449450






Municipal Population Group: 2,500 to 4,999






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Analysis of Revenue

20072008200920102011
Property Tax$439465550542594
Utility3,0633,0523,0142,8983,408
Sales Tax243237204153167
Sales & Services120123115121154
Intergovernmental255293404736888
Debt Proceeds13114277122
Other Miscellaneous4532131,409145168
Total$4,5864,3945,7004,8725,501

Go to top of page
Analysis of Revenue for Fiscal 2011











2011
2011
CategoryRevenue
Per Capita
Property Tax$1,694,117
$594
Water/Sewer0
0
Electric2,180,438
765
Other Utilities7,539,773
2,644
Sales Tax476,149
167
Sales & Services439,603
154
Intergovernment2,531,830
888
Debt Proceeds346,847
122
Miscellaneous480,267
168
Total$15,689,024
$5,501





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





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Analysis of Expenditures by Function for Fiscal 2011











2011
2011
CategoryExpenditures
Per Capita
General Government$1,121,524
$393
Water/Sewer0
0
Electric3,226,487
1,131
Other Utilities6,756,065
2,369
Debt Service1,245,699
437
Transportation274,428
96
Public Safety2,109,472
740
Other436,483
153
Total$15,170,158
$5,319





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





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Analysis of Expenditures by Object for Fiscal 2011






2011
2011
CategoryExpenditures
Per Capita
Salaries & Wages$1,968,963
$690
Water/Sewer Capital0
0
Electric Capital1,463,044
513
Other Capital655,792
230
Other Operating11,082,359
3,886
Total$15,170,158
$5,319





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





Last Updated 2/5/2012 2:30:11 PM