North Carolina
Department of State Treasurer
Financial Information
Town of Sunset Beach

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			2008	2007	2006	2005	2004	2003
	Revenues by Source
		Property Tax	$2,798,595	1,549,989	1,333,651	1,263,351	1,113,978	739,792
		Utility	-	1,365,860	1,271,301	1,166,342	1,109,254	1,142,169
		Sales Tax	724,977	575,869	528,495	454,667	408,799	340,377
		Sales & Services	522,646	530,944	509,608	465,377	436,595	404,186
		Intergovernmental	377,779	337,978	456,384	311,555	285,896	275,208
		Debt Proceeds	-	-	-	3,100,000	-	-
		Other Miscellaneous	1,690,629	1,932,247	1,744,861	1,479,052	1,582,161	1,322,101
		Total	$6,114,626	6,292,887	5,844,300	8,240,344	4,936,683	4,223,833

	Expenditures by Function
		Utility	$0	838,956	945,155	1,631,358	737,268	805,740
		Debt Service	398,784	792,163	640,483	253,964	154,989	158,264
		Transportation	352,936	245,590	143,555	454,382	397,473	272,192
		General Government	1,287,483	895,951	1,005,186	1,516,753	946,965	612,281
		Public Safety	2,746,540	1,773,404	2,357,836	2,384,790	1,351,134	1,148,675
		Other	223,711	340,806	331,585	394,615	222,543	715,430
		Total	$5,009,454	4,886,870	5,423,800	6,635,862	3,810,372	3,712,582

	Expenditures by Object
		Salaries & Wages	$2,398,173	2,120,076	2,031,824	1,890,828	1,865,829	1,657,889
		Capital Outlay	1,186,439	322,467	1,132,266	2,638,558	278,324	19,400
		Other Operating + Debt Service	1,424,842	2,444,327	2,259,710	2,106,476	1,666,219	2,035,293
		Total	$5,009,454	4,886,870	5,423,800	6,635,862	3,810,372	3,712,582


	Per Capita Revenues by Source
		Property Tax	$850	508	603	636	566	380
		Utility	-	447	575	588	564	587
		Sales Tax	219	188	240	229	209	176
		Sales & Services	159	174	230	234	222	208
		Intergovernmental	115	111	206	157	145	141
		Debt Proceeds	-	-	-	1,562	-	-
		Other Miscellaneous	513	633	789	745	804	679
		Total	$1,856	2,061	2,643	4,151	2,510	2,171

	Per Capita Expenditures by Function
		Utility	$0	275	427	822	375	414
		Debt Service	121	259	290	128	79	81
		Transportation	107	80	65	229	202	140
		General Government	391	293	455	764	481	315
		Public Safety	834	581	1,066	1,201	687	590
		Other	68	112	150	199	113	368
		Total	$1,521	1,600	2,453	3,343	1,937	1,908

	Per Capita Expenditures by Object
		Salaries & Wages	$728	694	919	953	949	852
		Capital Outlay	360	106	512	1,329	141	10
		Other Operating	433	800	1,022	1,061	847	1,046
		Total	$1,521	1,600	2,453	3,343	1,937	1,908

	Population Group		No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 1,000 to 2,499	No Electric 1,000 to 2,499	No Electric 1,000 to 2,499	No Electric 1,000 to 2,499
		Number of Municipalites in Group	119	121	103	103	106	107
		Average Population In Group	4,702	4,808	1,638	1,632	1,644	1,628
		Town of Sunset Beach Population	3,294	3,054	2,211	1,985	1,967	1,946
	Group Average Per Capita Revenues by Source
		Property Tax	339	312	348	331	319	306
		Utility	315	316	391	374	340	333
		Sales Tax	160	158	179	172	157	133
		Sales & Services	81	79	72	71	64	61
		Intergovernmental	182	176	246	220	257	307
		Debt Proceeds	174	109	170	89	82	56
		Other Miscellaneous	126	161	160	125	137	126
		Total	1,377	1,311	1,566	1,382	1,356	1,322

	Group Average Per Capita Expenditures by Function
		Utility	377	334	487	425	445	432
		Debt Service	103	97	108	107	86	103
		Transportation	112	112	131	132	139	108
		General Government	170	160	221	193	174	180
		Public Safety	322	312	326	294	315	264
		Other	233	237	206	170	159	169
		Total	1,317	1,252	1,479	1,321	1,318	1,256

	Group Average Per Capita Expenditures by Object
		Salaries & Wages	421	408	402	397	376	351
		Capital Outlay	284	254	373	283	317	298
		Other Operating	612	590	704	641	625	607
		Total	1,317	1,252	1,479	1,321	1,318	1,256


General Fund Go to top of page			2008	2007	2006	2005	2004	2003
	General Fund revenues		$6,037,842	4,805,930	4,480,823	3,916,909	3,794,540	2,984,109
	General Fund expenditures		4,965,750	3,577,246	3,421,007	2,981,549	2,776,584	2,764,507
	Operating transfers in		685,382	2,152,905	190,000	-	-	19,374
	Operating transfers out		456,000	356,000	174,963	373,458	70,000	20,000
	Capital leases and installment purchase proceeds		485,000	-	-	-	-	-
	Other items		-	-	-	-	-	-
	Excess of revenues and other sources over (under) expenditures and other uses		1,786,474	3,025,589	1,074,853	561,902	947,956	218,976

	Fund balance available (FBA):
		In dollars	$8,033,034	6,238,861	3,246,296	2,252,957	1,692,010	683,361
		FBA as a % of GF Net Expenditures:
		Unit's FBA %	162.72	158.62	90.28	67.15	59.44	24.54
		Group weighted average FBA %	65.07	64.31	64.79	69.64	70.93	74.33
		State weighted average Non-Electric Group	36.47	37.14	36.51	36.90	36.42	36.42
		State weighted average FBA %	36.20	36.37	36.31	36.76	36.35	36.06


Enterprise Funds: Go to top of page
	Water/Sewer

	Combined financial results:
		Working capital	$0	-	1,663,036	1,525,012	2,188,835	1,720,817
		Quick ratio	0.00	0.00	4.91	5.06	7.28	7.07
		Net income	0	(4,447,641)	207,182	360,301	244,690	284,110
		Cashflow from operations	0	417,232	461,094	305,047	398,358	288,197
		Depreciation & Amortization Expense	0	161,208	168,773	122,683	88,623	95,306



Cash, Investments and Financing Go to top of page			2008	2007	2006	2005	2004	2003

		Population at July 1st of the Previous Year	3,294	3,054	2,211	1,985	1,967	1,946
		Population Group	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 1,000 to 2,499	No Electric 1,000 to 2,499	No Electric 1,000 to 2,499	No Electric 1,000 to 2,499
		Cash &Investments	$9,914,182	8,100,817	6,738,384	5,479,521	4,999,609	3,563,417
		Investment Earnings	10,564	12,516	26,109	113,212	45,332	94,249
		Tax Rate Equivalent	0.0004	0.0012	0.0025	0.0112	0.0049	0.0121
		Tax Rate Equivalent Group weighted average	0.0296	0.0439	0.0283	0.0164	0.0094	0.0147
		Tax Rate Equivalent Statewide weighted average	0.0524	0.0920	0.0573	0.0415	0.0340	0.0332
		Latest year of Revaluation	2007	2003	2003	2003	2003	1999
		January 1, Prior Year Assessed Valuation	$2,445,154,578	1,076,000,764	1,029,909,780	1,007,566,685	929,247,823	779,575,193
		Tax Rate	0.1150	0.1450	0.1300	0.1300	0.1200	0.0950
		Tax Rate Group weighted average	0.2682	0.3126	0.3297	0.3306	0.3386	0.3479
		Tax Rate State Wide	0.4254	0.4455	0.4321	0.4448	0.4566	0.4594
		Assessment -to-Sales Ratio	99.29	62.50	80.00	87.38	100.00	81.22
		Assessment -to-Sales Ratio Group weighted average	90.92	83.47	85.71	86.82	87.25	85.88
		Assessment -to-Sales Ratio Statewide	88.52	88.41	92.28	92.35	92.18	89.54
		Assessed Valuation Adjusted for Assesment to Sales Ratio	$2,462,639,317	1,721,601,222	1,287,387,225	1,153,086,158	929,247,823	959,831,560
		EffectiveTax Rate	0.1142	0.0906	0.1040	0.1136	0.1200	0.0772
		Group weighted average Effective Tax Rate	0.2438	0.2610	0.2826	0.2870	0.2954	0.2988
		Statewide weighted average Effective Tax Rate	0.3765	0.3939	0.3987	0.4108	0.4209	0.4113
		Percent Collected	99.41	99.70	99.30	99.43	99.43	99.66
		Percent Collected Group weighted average	97.46	96.76	96.94	96.84	96.44	96.05
		Percent Collected Statewide	97.97	97.59	97.55	97.42	97.31	96.96
		Percent Collected Excluding Motor Vehicles	99.49	99.85	99.46	99.58	99.59	99.88
		Percent Collected Excluding Motor Vehicles Group weighted average	98.08	98.00	97.76	97.85	97.46	97.65
		Percent Collected Excluding Motor Vehicles Statewide weighted average	98.66	98.59	98.61	98.36	98.26	98.31
		Percent Collected Motor Vehicles Only	94.82	93.92	93.32	93.92	92.58	91.17
		Percent Collected Motor Vehicles Only Group weighted average	85.75	86.04	85.54	86.22	84.94	83.89
		Percent Collected Motor Vehicles Only Statewide weighted average	86.74	86.71	86.80	87.31	87.62	86.69
		Tax Uncollected	2,542	4,699	9,399	7,187	6,363	2,518
		Tax Rate Equivalent	0.0001	0.0004	0.0009	0.0007	0.0007	0.0003
		Dominant County: Brunswick
	Debt Information
		Population Group	2,500 to 4,999	2,500 to 4,999	1,000 to 2,499	1,000 to 2,499	1,000 to 2,499	1,000 to 2,499
		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	152	149	297	306	297	#N/A
		Total Per Capita Statewide	456	478	495	505	548	#N/A
		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	0.1101%	0.1223%	0.2606%	0.2847%	0.2930%	#N/A
		Total per Assessed Valuation Adjusted for Current Year Sales - Statewide	0.4131%	0.4706%	0.5275%	0.5588%	0.6442%	#N/A
		Total Authorized but not Issued General Obligation Debt

		Installment Sales Purchases and Lease Obligations
		--Enterprise	$0	0	0	0	0	0
		--General Government	2,170,000	2,480,000	2,790,000	3,100,000	0	0
		Total*	$2,170,000	2,480,000	2,790,000	3,100,000	0	0
		* The total only includes the contracts that require Local Government Commission approval.
		Revenue Bond Debt	$0	0	125,960	251,921	377,881	503,841


Annual Financial Information Report Detail Go to top of page
Line	Section	Description	2008	2007	2006	2005	2004	2003
	Population at July 1st of the Previous Year Adjusted for Boundry Changes		3,294	3,054	2,211	1,985	1,967	1,946

1A	Non GASB34	General Fund Assets						1,273,771
1B	FISCAL	General Fund Liabilities						244,653
2A	SUMMARY	Debt-service Assets
2B		Debt service Liabilities
3A		Enterprise Assets						4,335,452
3B		Enterprise Liabilities						667,115
4A		Internal Service Assets
4B		Internal service Liabilities
5A		Special Revenue Assets						949,466
1.5A	GASB34	Governmental Activities Assets	15,597,631	13,089,455	9,681,961	8,410,715	4,406,229
1.5B	FISCAL	Governmental Activities Liabilities	2,859,689	2,687,466	3,059,687	3,282,358	157,812
3.5A	SUMMARY	Business Type Activities Assets			5,043,367	4,993,640	4,811,603
3.5B		Business Type Activities Liabilties			595,726	753,181	931,445
6.5A		Fiduciary Funds Assets	36,046	25,690	63,090	51,387	42,813
6.5B		Fiduciary Funds Liabilties		38,937	39,031	29,595	32,056
5B		Special Revenue Liabilities
6A		Trust & Agency Assets						64,348
6B		Trust & Agency Liabilities
7A		Capital Project Assets
7B		Capital Project Liabilities
8A		General Fixed Assets						2,461,585
9B		General Long term debt - Liabilities						138,267
10	PART 2	Current collections of unit-wide levy	2,793,839	1,538,520	1,328,815	1,256,668	1,110,990	737,684
11	TAX	Current collection of special tax districts
12	REVENUES	Prior years' levy collections	1,868	8,086	1,943	4,071	551
13		Penalties and interest	2,888	3,383	2,893	2,612	2,437	2,108
14		Collection of taxes previously written off
15		Animal tax
16		1% Local government sales and use tax	289,680	238,774	229,909	207,779	181,099	152,413
17		1/2% Local government sales and use taxes (Article 40)	151,956	116,131	100,623	82,000	77,214	77,934
18		1/2% Local government sales and use taxes (Article 42)	150,331	114,814	99,529	81,080	76,154	77,198
18.5		1/2% Local government sales and use taxes (Article 44)	133,010	106,150	98,434	83,808	74,332	32,832
19		Licenses Privilege					420	360
19.1		Privilege - Occupational & business licensing & permit taxes	405	405	435	390
19.2		Privilege -- All other privileges and pemits
20		General Municipal Vehicle Tax						662,084
21		Vehicle Tax for Public Transportation
22		Other licenses - Include CATV	37,855	14,020	15,026
23		Local occupancy tax	942,740	921,394	905,099	801,930	816,233
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
30		Public safety			11,265	10,500
31		Transportation - Streets
32		Transportation - All other
33		Utility franchise tax			124,898
34		Housing/community development
35		All Other
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
42		Wireless Enhanced 911 Service Charges
43		Piped Natural Gas Charge Distribution
44		Utility franchise tax	224,832	222,144	204,463	183,244	176,756	154,543
45		Beer and Wine tax	14,066	9,991	9,466	8,707	8,358	7,827
46		Powell Bill	138,881	105,578	104,767	101,273	96,525	103,774
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		265	1,525	7,831	4,257	9,064
56		Econ. & Phys. Dev. - Housing/Comm. Dev.
57		Econ. & Phys. Dev. - All Other
58		Human Services: Health, mental health, hospitals
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
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	249,061	413,490	463,371	430,943	254,822	307,749
72	& FEES	Inspection fees	3,300	8,750	9,050	9,830	4,740	6,815
72.1		Amusements licensing and permit taxes
73		Other permits	4,275	6,025	4,180	3,015	2,160	1,600
74	SALES &	Parking revenues
75	SERVICES	Rents and royalties		29,519	28,659	14,443	12,726	5,200
76		Airport
77		Fire protection charges	517,348	495,819	474,941	444,596	416,951	392,492
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	5,298	5,606	6,008	6,338	6,918	6,494
86	UTILITY	Water and sewer charges		1,365,860	1,271,301	1,166,342	1,109,254	1,142,169
87	REVENUES	Electric charges
88		Gas charges
88.1		Storm Water Fees
89	MISC.	On bond proceeds	346,397	387,333	247,846
90	REVENUES	On general and all other funds	10,564	12,516	26,109	113,212	45,332	94,249
91		Special assessments	300	100	184	73,288	406,949	47,639
92		Private contribution and donations	6,128	1,856	1,500	250	1,920
93		Sales of materials and fixed assets				3,700	4,000	2,200
94		Sales of real property
95		Nongovernment contributions for streets and traffic signals
96		Mixed drink surcharge	4,775	25,418	24,425
97		ABC profit distribution	84,829	140,940	47,636	22,094	20,531	19,374
98		Other miscellaneous revenues				20,400	25,054	180,031
99		Proceeds of the sale of bonds and notes
100		Proceeds of capital leases and installment purchases				3,100,000
101		Other
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		124,935		13,933	4,812	7,743
106		Deposits other than utility				1,000
107		Prepaid taxes
108		Prepaid privilege licenses
109A	PART 4	Governing body - Salaries						8,387
109B	GENERAL	Governing body - All other Direct	25,064	17,481	17,388	12,444	15,566	4,207
109C	GOVT	Governing body - Construction
109D		Governing body - Land, Equipment and Existing Structures
110A		Administration - Salaries	656,268	542,207	526,459	504,599	510,789	291,667
110B		Administration - All other Direct	127,034	97,964	88,183	77,080	99,586	63,033
110C		Administration - Construction
110D		Administration - Land, Equipment and Existing Structures	11,873		59,198
111A		Elections (cost of) - Salaries
111B		Elections (cost of) - All other Direct	1,955		1,294		1,090
111C		Elections (cost of) - Construction
111D		Elections (cost of) - Land, Equipment and Existing Structures
112A		Finance - Salaries	74,938	68,981	62,297	56,126	53,534	54,350
112B		Finance - All other Direct	25,645	28,534	24,473	24,517	21,520	19,585
112C		Finance - Construction
112D		Finance - Land, Equipment. and Existing Structures
113A		Taxes - Salaries
113B		Taxes - All other Direct	3,194	3,229	2,942	2,300	2,662	1,081
113C		Taxes - Construction
113D		Taxes - Land, Equipment, and Existing Structures
114A		Legal - Salaries
114B		Legal - All other Direct	104,127	30,699	14,014	13,811	44,995	24,587
114C		Legal - Construction
114D		Legal - Land, Equipment, and Existing Structures
115A		Public Buildings - Salaries
115B		Public Buildings - All other Direct	85,786	70,980	61,990	39,745	39,763	145,384
115C		Public Buildings - Construction				786,131	157,460
115D		Public Buildings - Land, Equipment, and Existing Structures	171,599	35,876	146,948
116A		Court Facilities - Salaries
116B		Court Facilities - All other Direct
116C		Court Facilities - Construction
116D		Court Facilities - Land, Equipment, and Existing Structures
117A		Central Facilites - Salaries
117B		Central Facilities - All other Direct
117C		Central Facilites - Construction
117D		Central Facilites - Land, Equipment, and Existing Structures
118A		General Government All Other - Salaries
118B		General Government All Other - All other Direct
118C		General Government All Other - Construction
118D		General Government All Other - Land, Equipment, and Existing Structures
119A	PUBLIC	Police and Communications - Salaries	730,726	649,473	635,222	620,991	564,654	568,106
119B	SAFETY	Police and Communications - All other Direct	77,737	55,658	61,609	65,278	81,880	51,514
119C		Police and Communications - Construction		88,387	253,135
119D		Police and Communications - Land, Equipment and Existing Structures	29,378	49,353	12,304	56,041	43,814
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	516,862	448,960	403,812	342,044	375,048	292,553
122B		Fire - All other Direct	104,372	124,982	101,378	78,778	90,652	69,664
122C		Fire - Construction			585,000	1,014,046
122D		Fire - Land, Equipment, and Existing Structures	864,038	23,889	44,634			19,400
123A		Inspectors - Salaries	276,464	244,144	175,421	145,250	128,771	99,251
123B		Inspectors - All other Direct	46,978	38,838	41,840	21,625	16,436	11,739
123C		Inspectors - Construction
123D		Inspectors - Land, Equipment, and Existing Structures	36,996
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	120,915			71,598	78,993	96,234
128B		Streets and Highways - All other Direct	112,102	51,989	42,268	294,351	213,821	50,874
128C		Streets and Highways - Construction
128D		Streets and Highways - Land, Equipment and Existing Structures	48,399	124,962			12,500
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						107,380
130B		State Street Aid Allocation - Powell Bill - All other Direct	47,364	68,639	101,287	88,433	92,159	17,704
130C		State Street Aid Allocation - Powell Bill - Construction
130D		State Street Aid Allocation - Powell Bill - Land, Equipment, and Existing Structures	24,156
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	73,764	190,181	162,876	141,522	109,568	121,760
136C	PROTECTION	Solid Waste - Construction
136D		Solid Waste - Land, Equipment, and Existing Structures
137A		Drainage and Watershed - Salaries
137B		Drainage and Watershed - All other Direct	11,274	20,035	70,993	135,014	27,029	85,568
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
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	52,410	41,703	23,905	19,744	10,067	8,027
140C	DEVELOP	Planning and Zoning - Construction
140D		Planning and Zoning - Land, Equipment, and Existing Structures
141A		Economic Development - Salaries						12,890
141B		Economic Development - All other Direct	15,000	20,000	20,000	27,750	5,000	450,793
141C		Economic Development - Construction
141D		Economic Development - Land, Equipment, and Existing Structures
142A		Community Development - Salaries
142B		Community Development - All other Direct	3,000	3,000	2,500	2,500	1,500
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]	22,000	26,100	12,311	12,530	13,157
145B		Economic and Physical Development - All Other - All other Direct	25,844	13,065	12,681	17,203	19,472
145C		Economic and Physical Development - All Other - Construction
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	20,200	26,325	26,200	25,550	26,400	27,800
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		397
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	219		119	12,802	10,350	8,592
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
153C		Recreation and Parks - Construction
153D		Recreation and Parks - Land, Equipment, and Existing Structures
154A		Coliseum - Salaries
154B		Coliseum - All other Direct
154C		Coliseum - Construction
154D		Coliseum - Land, Equipment, and Existing Structures
155A		Museums - Salaries
155B		Museums - All other Direct
155C		Museums - Construction
155D		Museums - Land, Equipment, and Existing Structures
156A		Libraries - Salaries
156B		Libraries - All other Direct
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
157C		Human Services - All Other - Construction
157D		Human Services - All Other - Land, Equipment, and Existing Structures
158A	UTILITY	Water and Sewer - Salaries		140,211	216,302	137,690	140,883	127,071
158B		Water and Sewer - All other Direct		698,745	697,806	711,328	531,835	678,669
158C		Water and Sewer - Construction					64,550
158D		Water and Sewer - Land, Equipment, and Existing Structures			31,047	782,340
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		9,587	15,829	21,265	13,100	16,375
161D	SERVICE	Water and Sewer - Debt Service Principal Payments		372,694	203,674	201,513	125,960	125,960
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	88,784	99,882	110,980	1,961	2,536	3,288
166D		All Other - Debt Service Principal Payments	310,000	310,000	310,000	29,225	13,393	12,641
167B	PENSION	Direct Benefit Program - Pension Fund operated by the Unit
168B	FRINGE	Fringe Benefits Unallocated - (B)
169B		Separation Allowance - Law Enforcement Officers -(B)	28,552	19,370	10,690	10,690	10,690
170B		Separation Allowance - Other Employees - (B)
171B		Supplemental Retirement Income Plan for Law Enforcement Officers - (B)	34,437	30,350	32,791	30,047	39,189	36,448
172B		Fringe Benefits Other - (B)
173A		Multi-County Library District, County, or Other Municipality Authority					AuthorityCountyMunicipality
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)					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)					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	2,760,381	1,513,870	1,296,429	1,228,622	1,089,820	719,147
180	OTHER	Current Year Levy Motor Vehicles Only	47,171	39,219	36,829	33,126	24,827	18,771
181	DATA	Uncollected Taxes - Current Year's Levy - Excluding Motor Vehicles	14,003	2,313	6,939	5,172	4,520	861
182		Uncollected Taxes - Current Year's Levy - Motor Vehicles	2,443	2,386	2,460	2,015	1,843	1,657
183		Percentage of Taxes Collected - Current Year All Property	99.41	99.70	99.30	99.43	99.43	99.66
184		Percentage of Taxes Collected - Current Year - Excluding Motor Vehicles	99.49	99.85	99.46	99.58	99.59	99.88
185		Percentage of Taxes Collected - Current Year - Motor Vehicles	94.82	93.92	93.32	93.92	92.58	91.17
186		Total Amount of Expenditures for Salaries and Wages to Unit's Own Personnal	2,461,162	2,169,796	2,075,305	1,931,565	1,915,708
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			400,126	1,151,348
189C	INVEST	Cash on Hand and in Bank, and Securities - All Other	9,914,182	8,100,817	6,738,384	5,479,521	4,999,609	3,563,417
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	6,599,626	8,345,792	6,034,300	9,146,737	5,188,668	4,243,833
194B	FISCAL	Amounts - Subtract proceeds of refunding debt
194C	SUMMARY	Amounts - Subtract interfund transfers in	485,000	2,052,905	190,000	906,393	251,985	20,000
194D		Amounts - Net Revenues per AFIR	6,114,626	6,292,887	5,844,300	8,240,344	4,936,683	4,223,833
		Calculated amount	6,114,626	6,292,887	5,844,300	8,240,344	4,936,683	4,223,833
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference
195A		Amounts - Total Expenditures and other financing sources per audit	5,494,454	6,939,775	5,613,800	7,542,255	4,062,357	3,732,582
195B		Amounts - Subtract payments to refunding debt escrow agent
195C		Amounts - Subtract interfund transfers out	485,000	2,052,905	190,000	906,393	251,985	20,000
195D		Amounts Net Expenditures per AFIR	5,009,454	4,886,870	5,423,800	6,635,862	3,810,372	3,712,582
		Calculated amount	5,009,454	4,886,870	5,423,800	6,635,862	3,810,372	3,712,582
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference

	PART 10

950		Name of Official Signatory	Donna Rogers
951		Title of Official	Finance Director
952		Date Certified	01/29/2009	11/28/2007	11/29/2006
953		Person to Contact	Donna Rogers
954		Title of Person to Contact	Finance Director
955		Telephone Number	910-579-6297
956		Facsimile Number	910-579-1840

Go to top of page Key Ratios and Operations Statistics of Water and Sewer Systems for
Town of Sunset Beach

	2008	2007	2006	2005	2004	2003

Population	3,294	3,054	2,211	1,985	1,967	1,946
Population Group	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 1,000 to 2,499	No Electric 1,000 to 2,499	No Electric 1,000 to 2,499	No Electric 1,000 to 2,499
Total Operating Revenues	$0	1,365,860	1,271,301	1,166,342	1,109,254	1,142,169
Total Operating Revenues Per Capita	$0	447	575	588	564	587
Group Weighted Average Revenues Per Capita	396	397	467	452	424	406
State Weighted Average Revenues Per Capita	364	367	356	331	308	295

% to Total Operating Revenues
Operating Expenses	0.00%	73.23%	85.18%	83.13%	68.70%	79.18%
Group Weighted Average	93.18%	90.16%	97.18%	98.55%	100.51%	98.75%
State Weighted Average	86.74%	82.44%	81.55%	85.60%	89.13%	90.84%

Operating Margin	0.00%	26.77%	14.82%	16.87%	31.30%	20.82%
Group Weighted Average	6.82%	9.84%	2.82%	1.45%	-0.51%	1.25%
State Weighted Average	13.26%	17.56%	18.45%	14.40%	10.87%	9.16%

Operating Transfers In/(out)	0.00%	-156.56%	0.00%	0.00%	0.00%	0.00%
Group Weighted Average	-3.22%	-2.12%	-0.40%	3.03%	2.95%	2.51%
State Weighted Average	3.96%	-0.78%	-0.58%	-0.79%	-1.21%	-0.99%

Net Income before capital contributions	0.00%	-127.98%	16.30%	17.29%	22.06%	24.87%
Group Weighted Average	3.36%	-0.97%	-2.70%	3.62%	0.56%	1.84%
State Weighted Average	13.45%	11.89%	9.65%	8.63%	2.88%	0.31%

Key Ratios and Cash Flow

Quick Ratio	N/A	N/A	4.91	5.06	7.28	7.07
Group Weighted Average	3.12	3.26	3.58	3.47	4.12	3.57
State Weighted Average	2.95	2.90	2.82	1.81	2.76	3.04

Days Sales in Receivables	N/A	0.0	34.7	40.6	46.4	36.9
Group Weighted Average	52.2	52.6	44.0	43.6	43.3	44.9
State Weighted Average	55.3	59.9	57.8	59.9	65.7	60.0

Days Cash on Hand	0.0	0.0	790.0	747.1	1,304.7	807.2
Group Weighted Average	439.3	462.5	407.8	401.1	403.8	390.4
State Weighted Average	457.8	497.5	458.0	423.5	407.9	414.8

Cash flow from Operations	$0	417,232	461,094	305,047	398,358	288,197

Debt to Equity	0.00	0.00	0.08	0.14	0.15	0.10
Group Weighted Average	0.31	0.28	0.27	0.24	0.24	0.26
State Weighted Average	0.56	0.55	0.52	0.52	0.52	0.50

Debt per Capita	0	0	169	290	293	194
Group Weighted Average	631	533	739	702	625	629
State Weighted Average	1,136	1,091	989	929	855	852

Capital Expenditures:	2008	2007	2006	2005	2004	2003
	$0	0	31,047	782,340	64,550	0

	2002	2001	2000	1999
	$87,257	1,679	506,556	464,993

Capital Contributions: Excluded from income above	$0	-2,699,675	0	158,686	0	0


Operating Statistics

Estimated population of the areas served Water	0	4,000	NA	NA	NA	NA
Estimated population of the areas served Sewer	0	0	NA	NA	NA	NA

Number of Gallons of Water Processed (000) omitted	0	227,000	NA	NA	NA	NA
Number of Gallons of Sewage Processed (000) omitted	0	0	NA	NA	NA	NA

Number of Gallons of Water Billed (000) omitted	0	181,000	NA	NA	NA	NA
Number of Gallons of Sewage Billed (000) omitted	0	0	NA	NA	NA	NA

Ratio of Water Billed to Water Processed		0.79736	NA	NA	NA	NA
Ratio of Sewage Billed to Sewage Processed			NA	NA	NA	NA

Total Revenue from Water Sales	0	1,061,525	NA	NA	NA	NA
Total Revenue from Sewage Sales	0	0	NA	NA	NA	NA

Water Revenue per 1000 gallons of Sales		265.38125	NA	NA	NA	NA
Sewage Revenue per 1000 gallons of Sales			NA	NA	NA	NA

Group Average Sales per thousand Gallons Water	$1,510.62899	$1,842.80047	NA	NA	NA	NA
Group Average Sales per thousand Gallons Sewage	$1,202.09823	$1,724.69791	NA	NA	NA	NA

State Average Sales per thousand Gallons Water	$13,144.87654	$5,350.70834	NA	NA	NA	NA
State Average Sales per thousand Gallons Sewage	$10,395.28087	$3,921.08643	NA	NA	NA	NA

Residential Water Sales per thousand Gallons		5.86308	NA	NA	NA	NA
Residential Sewage Sales per thousand Gallons			NA	NA	NA	NA

Water Sales per thousand Gallons outside Municipal Limits		5.60250	NA	NA	NA	NA
Sewage Sales per thousand Gallons outside Municipal Limits			NA	NA	NA	NA

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

	2004	2005	2006	2007	2008
Unit's FBA %	59.44%	67.15%	90.28%	158.62%	162.72%
Group average FBA %	70.93%	69.64%	64.79%	64.31%	65.07%
State average Electric/Non Electric Group FBA %	36.42%	36.90%	36.51%	37.14%	36.47%
State average FBA %	36.35%	36.76%	70.93%	36.37%	36.20%

Municipal Population Group: No Electric 2,500 to 9,999

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2004 2005 2006 2007 2008

Municipality 99.43% 99.43% 99.30% 99.70% 99.41%

Pop. Group 96.44% 96.84% 96.94% 96.76% 97.46%

Statewide 97.31% 97.42% 97.55% 97.59% 97.97%

Municipal Population Group: No Electric 2,500 to 9,999

	2004	2005	2006	2007	2008
Municipality	99.43%	99.43%	99.30%	99.70%	99.41%
Pop. Group	96.44%	96.84%	96.94%	96.76%	97.46%
Statewide	97.31%	97.42%	97.55%	97.59%	97.97%

Municipal Population Group: No Electric 2,500 to 9,999

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2004 2005 2006 2007 2008

Municipality 0 0 0 0 0

Pop. Group 297 306 297 149 152

Statewide 548 505 495 478 456

Municipal Population Group: 2,500 to 4,999

	2004	2005	2006	2007	2008
Municipality	0	0	0	0	0
Pop. Group	297	306	297	149	152
Statewide	548	505	495	478	456

Municipal Population Group: 2,500 to 4,999

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2004 2005 2006 2007 2008

Property Tax $566 636 603 508 850

Utility 564 588 575 447 0

Sales Tax 209 229 240 188 219

Sales & Services 222 234 230 174 159

Intergovernmental 145 157 206 111 115

Debt Proceeds 0 1,562 0 0 0

Other Miscellaneous 804 745 789 633 513

Total $2,510 4,151 2,643 2,061 1,856

	2004	2005	2006	2007	2008
Property Tax	$566	636	603	508	850
Utility	564	588	575	447	0
Sales Tax	209	229	240	188	219
Sales & Services	222	234	230	174	159
Intergovernmental	145	157	206	111	115
Debt Proceeds	0	1,562	0	0	0
Other Miscellaneous	804	745	789	633	513
Total	$2,510	4,151	2,643	2,061	1,856

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2008
2008

Category Revenue
Per Capita

Property Tax $2,798,595
$850

Water/Sewer 0
0

Electric 0
0

Utility 0
0

Sales Tax 724,977
219

Sales & Services 522,646
159

Intergovernment 377,779
115

Debt Proceeds 0
0

Miscellaneous 1,690,629
513

Total $6,114,626
$1,856

Municipal Population Group: No Electric 2,500 to 9,999

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2008
2008

Category Expenditures
Per Capita

General Government $1,287,483
$391

Water/Sewer 0
0

Electric 0
0

Utilities 0
0

Debt Service 398,784
121

Transportation 352,936
107

Public Safety 2,746,540
834

Other 223,711
68

Total $5,009,454
$1,521

Municipal Population Group: No Electric 2,500 to 9,999

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2008
2008

Category Expenditures
Per Capita

Salaries & Wages $2,398,173
$728

Water/Sewer Capital 0
0

Electric Capital 0
0

Capital Outlay 1,186,439
360

Other Operating 1,424,842
433

Total $5,009,454
$1,521

Municipal Population Group: No Electric 2,500 to 9,999

Last Updated 8/27/2009 8:17:13 AM



	2008	2008
Category	Revenue	Per Capita
Property Tax	$2,798,595	$850
Water/Sewer	0	0
Electric	0	0
Utility	0	0
Sales Tax	724,977	219
Sales & Services	522,646	159
Intergovernment	377,779	115
Debt Proceeds	0	0
Miscellaneous	1,690,629	513
Total	$6,114,626	$1,856

Municipal Population Group: No Electric 2,500 to 9,999

North CarolinaDepartment of State TreasurerFinancial InformationTown of Sunset Beach

Financial Graphs and Comparisons

North Carolina
Department of State Treasurer
Financial Information
Town of Sunset Beach