North Carolina
Department of State Treasurer
Financial Information
Village of Bald Head Island

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	$4,640,625	4,528,602	4,345,397	4,071,792	3,817,522	3,242,215
		Utility	2,472,357	2,297,831	1,591,141	319,194	323,693	354,409
		Sales Tax	58,574	59,512	53,655	47,072	39,776	33,872
		Sales & Services	4,250	9,379	468	6,924	119,122	148,041
		Intergovernmental	246,117	512,277	513,795	223,462	116,193	77,330
		Debt Proceeds	-	-	6,900,000	-	-	-
		Other Miscellaneous	2,009,144	1,783,551	1,801,444	1,580,676	1,314,756	1,233,017
		Total	$9,431,067	9,191,152	15,205,900	6,249,120	5,731,062	5,088,884

	Expenditures by Function
		Utility	$2,645,582	1,735,068	5,400,680	-	-	-
		Debt Service	612,692	612,692	2,831,996	314,882	315,759	340,138
		Transportation	313,929	412,414	172,698	515,027	327,261	430,348
		General Government	1,048,161	1,095,404	866,169	775,776	704,881	732,269
		Public Safety	1,925,739	2,049,789	1,898,708	1,701,274	1,518,372	1,480,466
		Other	2,655,668	3,291,699	2,070,758	2,253,661	1,708,614	1,289,958
		Total	$9,201,771	9,197,066	13,241,009	5,560,620	4,574,887	4,273,179

	Expenditures by Object
		Salaries & Wages	$2,347,037	2,052,366	1,636,834	1,423,702	1,260,501	1,186,769
		Capital Outlay	3,422,320	3,646,243	6,784,741	1,831,885	1,456,625	1,117,949
		Other Operating + Debt Service	3,432,414	3,498,457	4,819,434	2,305,033	1,857,761	1,968,461
		Total	$9,201,771	9,197,066	13,241,009	5,560,620	4,574,887	4,273,179


	Per Capita Revenues by Source
		Property Tax	$18,489	18,791	18,976	18,764	18,622	17,155
		Utility	9,850	9,535	6,948	1,471	1,579	1,875
		Sales Tax	232	246	233	217	194	179
		Sales & Services	17	39	2	32	581	783
		Intergovernmental	981	2,126	2,244	1,030	567	409
		Debt Proceeds	-	-	30,131	-	-	-
		Other Miscellaneous	8,005	7,401	7,867	7,284	6,413	6,524
		Total	$37,574	38,138	66,401	28,798	27,956	26,925

	Per Capita Expenditures by Function
		Utility	$10,540	7,199	23,584	-	-	-
		Debt Service	2,441	2,542	12,367	1,451	1,540	1,800
		Transportation	1,251	1,711	754	2,373	1,596	2,277
		General Government	4,176	4,546	3,782	3,575	3,439	3,874
		Public Safety	7,672	8,505	8,291	7,840	7,407	7,833
		Other	10,580	13,659	9,043	10,386	8,335	6,825
		Total	$36,660	38,162	57,821	25,625	22,317	22,609

	Per Capita Expenditures by Object
		Salaries & Wages	$9,351	8,516	7,148	6,561	6,149	6,279
		Capital Outlay	13,635	15,130	29,628	8,442	7,105	5,915
		Other Operating	13,674	14,516	21,045	10,622	9,063	10,415
		Total	$36,660	38,162	57,821	25,625	22,317	22,609

	Population Group		No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below
		Number of Municipalites in Group	117	117	119	121	124	126
		Average Population In Group	260	259	260	262	266	267
		Village of Bald Head Island Population	251	241	229	217	205	189
	Group Average Per Capita Revenues by Source
		Property Tax	478	467	472	449	472	437
		Utility	337	340	379	292	291	261
		Sales Tax	149	157	148	145	134	116
		Sales & Services	64	62	68	50	62	65
		Intergovernmental	507	467	331	618	491	397
		Debt Proceeds	62	59	274	13	96	23
		Other Miscellaneous	257	238	250	212	230	253
		Total	1,854	1,790	1,922	1,779	1,776	1,552

	Group Average Per Capita Expenditures by Function
		Utility	796	471	528	445	399	436
		Debt Service	126	83	175	151	82	75
		Transportation	191	145	154	172	151	117
		General Government	290	295	305	288	295	273
		Public Safety	240	213	239	212	252	221
		Other	329	486	291	528	402	297
		Total	1,972	1,693	1,692	1,796	1,581	1,419

	Group Average Per Capita Expenditures by Object
		Salaries & Wages	378	363	369	327	348	298
		Capital Outlay	763	453	500	456	500	423
		Other Operating	831	877	823	1,013	733	698
		Total	1,972	1,693	1,692	1,796	1,581	1,419


General Fund Go to top of page			2008	2007	2006	2005	2004	2003
	General Fund revenues		$6,378,942	6,807,547	6,830,971	6,249,120	5,731,062	5,088,884
	General Fund expenditures		5,022,263	4,310,365	6,014,445	3,973,523	3,330,242	3,530,635
	Operating transfers in		22,992	-	2,662,182	-	-	24,496
	Operating transfers out		2,932,005	1,146,389	2,356,708	2,402,683	1,638,656	1,011,670
	Capital leases and installment purchase proceeds		-	-	-	-	-	-
	Other items		-	-	-	-	-	-
	Excess of revenues and other sources over (under) expenditures and other uses		(1,552,334)	1,350,793	1,122,000	(127,086)	762,164	571,075

	Fund balance available (FBA):
		In dollars	$4,834,504	6,411,737	5,069,422	3,721,360	4,116,958	3,351,032
		FBA as a % of GF Net Expenditures:
		Unit's FBA %	60.78	117.50	60.56	58.36	82.85	73.77
		Group weighted average FBA %	115.47	118.43	122.45	109.03	128.31	118.72
		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
	None

	Combined financial results:
		Working capital
		Quick ratio
		Net income
		Cashflow from operations
		Depreciation & Amortization Expense



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

		Population at July 1st of the Previous Year	251	241	229	217	205	189
		Population Group	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below
		Cash &Investments	$8,291,487	8,413,775	8,603,071	6,914,962	6,363,814	5,149,883
		Investment Earnings	840,936	469,985	324,342	152,406	59,984	66,871
		Tax Rate Equivalent	0.0430	0.0483	0.0348	0.0175	0.0074	0.0131
		Tax Rate Equivalent Group weighted average	0.0397	0.0508	0.0318	0.0173	0.0098	0.0129
		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	$1,954,278,489	973,298,494	932,816,096	870,492,354	809,306,093	510,303,432
		Tax Rate	0.2400	0.4650	0.4650	0.4650	0.4650	0.6350
		Tax Rate Group weighted average	0.2676	0.3651	0.3049	0.3181	0.3240	0.3336
		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	87.73	75.64	81.67	87.64	94.38	82.33
		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	$1,968,253,086	1,557,277,590	1,166,020,120	996,214,642	809,306,093	628,297,749
		EffectiveTax Rate	0.2383	0.2906	0.3720	0.4063	0.4650	0.5157
		Group weighted average Effective Tax Rate	0.2348	0.2762	0.2490	0.2788	0.3058	0.2746
		Statewide weighted average Effective Tax Rate	0.3765	0.3939	0.3987	0.4108	0.4209	0.4113
		Percent Collected	98.70	99.69	99.94	99.92	99.75	99.64
		Percent Collected Group weighted average	96.62	97.25	97.71	97.79	97.61	89.81
		Percent Collected Statewide	97.97	97.59	97.55	97.42	97.31	96.96
		Percent Collected Excluding Motor Vehicles	98.70	99.69	99.95	99.92	99.75	99.64
		Percent Collected Excluding Motor Vehicles Group weighted average	97.13	97.74	98.29	98.48	98.45	98.35
		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	100.00	88.71	94.27	98.97	99.79	98.57
		Percent Collected Motor Vehicles Only Group weighted average	84.84	83.54	84.25	84.13	83.78	84.50
		Percent Collected Motor Vehicles Only Statewide weighted average	86.74	86.71	86.80	87.31	87.62	86.69
		Tax Uncollected	99	14,036	2,493	3,122	9,698	11,813
		Tax Rate Equivalent	0.0000	0.0014	0.0003	0.0004	0.0012	0.0023
		Dominant County: Brunswick
	Debt Information
		Population Group	Under 500	Under 500	Under 500	Under 500	Under 500	Under 500
		Ratings:
		Fitch
		Moody's
		S & P

		General Obligation Debt (GO) where the taxing power of the entrire municipality is pledged to pay the obligation
		Enterprise GO Debt	$0	0	0	0	0	0
		General Government GO Debt	0	0	0	0	0	0
		Total General Obligation Debt	0	0	0	0	0	0
		Per Capita	$0	0	0	0	0	0
		Total Per Capita for the Population Group	155	201	217	236	300	#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	0.0794%	0.1282%	0.1208%	0.1597%	0.2110%	#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	$6,014,251	6,379,080	6,729,778	2,385,816	2,502,417	2,609,898
		--General Government	0	0	0	0	0	0
		Total*	$6,014,251	6,379,080	6,729,778	2,385,816	2,502,417	2,609,898
		* The total only includes the contracts that require Local Government Commission approval.
		Revenue Bond Debt	$0	0	0	0	0	0


Annual Financial Information Report Detail Go to top of page
Line	Section	Description	2008	2007	2006	2005	2004	2003
	Population at July 1st of the Previous Year Adjusted for Boundry Changes		251	241	229	217	205	189

1A	Non GASB34	General Fund Assets						3,720,541
1B	FISCAL	General Fund Liabilities						238,644
2A	SUMMARY	Debt-service Assets
2B		Debt service Liabilities
3A		Enterprise Assets
3B		Enterprise Liabilities
4A		Internal Service Assets
4B		Internal service Liabilities
5A		Special Revenue Assets
1.5A	GASB34	Governmental Activities Assets	13,732,749	12,253,203	11,987,812	13,198,708	12,436,242
1.5B	FISCAL	Governmental Activities Liabilities	502,503	460,700	444,953	2,930,381	2,903,955
3.5A	SUMMARY	Business Type Activities Assets	10,584,948	9,492,483	8,509,582
3.5B		Business Type Activities Liabilties	6,161,453	6,527,792	6,810,072
6.5A		Fiduciary Funds Assets
6.5B		Fiduciary Funds Liabilties
5B		Special Revenue Liabilities
6A		Trust & Agency Assets
6B		Trust & Agency Liabilities
7A		Capital Project Assets						1,572,933
7B		Capital Project Liabilities						23,822
8A		General Fixed Assets						7,128,699
9B		General Long term debt - Liabilities						2,763,332
10	PART 2	Current collections of unit-wide levy	4,612,787	4,512,585	4,335,785	4,055,661	3,797,060	3,229,634
11	TAX	Current collection of special tax districts
12	REVENUES	Prior years' levy collections	19,715	1,940	4,023	9,566	11,670	6,634
13		Penalties and interest	8,123	14,077	5,589	6,565	8,792	5,947
14		Collection of taxes previously written off
15		Animal tax
16		1% Local government sales and use tax	23,454	24,671	23,349	21,507	17,625	15,167
17		1/2% Local government sales and use taxes (Article 40)	12,250	12,004	10,212	8,492	7,511	7,755
18		1/2% Local government sales and use taxes (Article 42)	12,118	11,868	10,101	8,397	7,408	7,683
18.5		1/2% Local government sales and use taxes (Article 44)	10,752	10,969	9,993	8,676	7,232	3,267
19		Licenses Privilege
19.1		Privilege - Occupational & business licensing & permit taxes
19.2		Privilege -- All other privileges and pemits
20		General Municipal Vehicle Tax
21		Vehicle Tax for Public Transportation
22		Other licenses - Include CATV		10,818	20,358	19,011	17,488	15,921
23		Local occupancy tax	635,520	618,585	606,390	539,797	481,023	486,256
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
31		Transportation - Streets
32		Transportation - All other
33		Utility franchise tax
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	32,131	33,786	33,551	32,305	32,305
42		Wireless Enhanced 911 Service Charges
43		Piped Natural Gas Charge Distribution
44		Utility franchise tax	75,298	57,256	42,403	40,681	35,902	33,622
45		Beer and Wine tax	1,110	1,035	958	907	812	779
46		Powell Bill	46,603	36,854	36,928	35,483	31,822	34,739
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	3,000	279,710	301,522	10,300
52		Public safety					905	3,195
53		Transportation - Streets
54		Transportation - All other
55		Environmental protection	2,375	3,036	1,833	2,749	4,606	4,995
56		Econ. & Phys. Dev. - Housing/Comm. Dev.
57		Econ. & Phys. Dev. - All Other					9,841
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	85,600	100,600	96,600	101,037
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	101,012	223,369	402,794	283,885	364,396	327,228
72	& FEES	Inspection fees
72.1		Amusements licensing and permit taxes
73		Other permits	411,754	431,386	401,927	413,878	390,071	336,741
74	SALES &	Parking revenues
75	SERVICES	Rents and royalties
76		Airport
77		Fire protection charges					63,000	117,320
78		Solid waste
79		Ambulance and rescue squad charges	4,250	9,379	468	6,924	7,309	6,200
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					48,813	24,521
86	UTILITY	Water and sewer charges	2,472,357	2,297,831	1,591,141	319,194	323,693	354,409
87	REVENUES	Electric charges
88		Gas charges
88.1		Storm Water Fees
89	MISC.	On bond proceeds
90	REVENUES	On general and all other funds	840,936	469,985	324,342	152,406	59,984	66,871
91		Special assessments
92		Private contribution and donations				142,000
93		Sales of materials and fixed assets	650			8,657	1,170
94		Sales of real property
95		Nongovernment contributions for streets and traffic signals			30,000
96		Mixed drink surcharge
97		ABC profit distribution
98		Other miscellaneous revenues	19,272	29,408	15,633	21,042	624
99		Proceeds of the sale of bonds and notes			6,900,000
100		Proceeds of capital leases and installment purchases
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
106		Deposits other than utility
107		Prepaid taxes
108		Prepaid privilege licenses
109A	PART 4	Governing body - Salaries
109B	GENERAL	Governing body - All other Direct	40,383	23,726	18,161	5,339	14,670	3,242
109C	GOVT	Governing body - Construction
109D		Governing body - Land, Equipment and Existing Structures
110A		Administration - Salaries	390,686	392,005	298,377	266,751	279,068	258,876
110B		Administration - All other Direct	609,106	679,673	549,631	478,191	401,594	337,518
110C		Administration - Construction
110D		Administration - Land, Equipment and Existing Structures	7,986			25,495	9,549	132,633
111A		Elections (cost of) - Salaries
111B		Elections (cost of) - All other Direct
111C		Elections (cost of) - Construction
111D		Elections (cost of) - Land, Equipment and Existing Structures
112A		Finance - Salaries
112B		Finance - All other Direct
112C		Finance - Construction
112D		Finance - Land, Equipment. and Existing Structures
113A		Taxes - Salaries
113B		Taxes - All other Direct
113C		Taxes - Construction
113D		Taxes - Land, Equipment, and Existing Structures
114A		Legal - Salaries
114B		Legal - All other Direct
114C		Legal - Construction
114D		Legal - Land, Equipment, and Existing Structures
115A		Public Buildings - Salaries
115B		Public Buildings - All other Direct
115C		Public Buildings - Construction
115D		Public Buildings - Land, Equipment, and Existing Structures
116A		Court Facilities - Salaries
116B		Court Facilities - All other Direct
116C		Court Facilities - Construction
116D		Court Facilities - Land, Equipment, and Existing Structures
117A		Central Facilites - Salaries
117B		Central Facilities - All other Direct
117C		Central Facilites - Construction
117D		Central Facilites - Land, Equipment, and Existing Structures
118A		General Government All Other - Salaries
118B		General Government All Other - All other Direct
118C		General Government All Other - Construction
118D		General Government All Other - Land, Equipment, and Existing Structures
119A	PUBLIC	Police and Communications - Salaries	609,520	561,390	506,811	475,543	406,378	424,222
119B	SAFETY	Police and Communications - All other Direct	335,371	330,638	320,275	287,433	196,946	237,842
119C		Police and Communications - Construction
119D		Police and Communications - Land, Equipment and Existing Structures	25,005		30,602	9,845	25,971	5,054
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	427,317	416,189	411,840	380,830	317,531	311,233
122B		Fire - All other Direct	283,163	332,997	337,835	283,445	255,113	202,144
122C		Fire - Construction	13,690
122D		Fire - Land, Equipment, and Existing Structures		251,370	140,798	57,524	168,010	163,208
123A		Inspectors - Salaries	132,060	73,468	77,975	127,520	96,038	73,720
123B		Inspectors - All other Direct	71,035	44,065	47,379	55,610	32,569	25,830
123C		Inspectors - Construction
123D		Inspectors - Land, Equipment, and Existing Structures		13,417				17,329
124A		Rescue Units - Salaries
124B		Rescue Units - All other Direct
124C		Rescue Units - Construction
124D		Rescue Units - Land, Equipment, and Existing Structures
125A		Animal Control - Salaries
125B		Animal Control - All other Direct
125C		Animal Control - Construction
125D		Animal Control - Land, Equipment, and Existing Structures
126A		Public Safety All Other - Salaries
126B		Public Safety All Other - All other Direct
126C		Public Safety All Other - Construction
126D		Public Safety All Other - Land, Equipment, and Existing Structures
127A	TRANSPOR	Traffic Engineering - Salaries
127B	TATION	Traffic Engineering - All other Direct
127C		Traffic Engineering - Construction
127D		Traffic Engineering - Land, Equipment, and Existing Structures
128A		Streets and Highways - Salaries
128B		Streets and Highways - All other Direct	313,929	387,151	142,698	373,027	327,261	430,348
128C		Streets and Highways - Construction		25,263	30,000	142,000
128D		Streets and Highways - Land, Equipment and Existing Structures
129A		Street Cleaning - Salaries
129B		Street Cleaning - All other Direct
129C		Street Cleaning - Construction
129D		Street Cleaning - Land, Equipment, and Existing Structures
130A		State Street Aid Allocation - Powell Bill - Salries
130B		State Street Aid Allocation - Powell Bill - All other Direct
130C		State Street Aid Allocation - Powell Bill - Construction
130D		State Street Aid Allocation - Powell Bill - Land, Equipment, and Existing Structures
131A		Parking Facilities - Salaries
131B		Parking Facilities - All other Direct
131C		Parking Facilities - Construction
131D		Parking Facilites - Land, Equipment, and Existing Structures
132A		Mass Transit - City - Salaries
132B		Mass Transit - City - All other Direct
132C		Mass Transit - City - Construction
132D		Mass Transit - City - Land, Equipment, and Existing Structures
133B		Mass Transit - Private - All other Direct only
134A		Airport - Salaries
134B		Airport - All other Direct
134C		Airport - Construction
134D		Airport - Land, Equipment, and Existing Structures
135A		Transportation - All Other - Salaries
135B		Transportation - All Other - All other Direct
135C		Transportation - All Other - Construction
135D		Transportation - All Other - Land, Equipment, and Existing Structures
136A	ENVIRON	Solid Waste - Salaries	304,372	268,259	189,106	173,058	161,486	118,718
136B	MENTAL	Solid Waste - All other Direct	413,108	383,307	310,108	347,392	275,545	226,103
136C	PROTECTION	Solid Waste - Construction	239,174
136D		Solid Waste - Land, Equipment, and Existing Structures	662,000	71,223	55,715	9,924	8,450	57,181
137A		Drainage and Watershed - Salaries
137B		Drainage and Watershed - All other Direct
137C		Drainage and Watershed - Construction
137D		Drainage and Watershed - Land, Equipment, and Existing Structures
138A		Cemeteries - Salaries
138B		Cemeteries - All other Direct
138C		Cemeteries - Construction
138D		Cemeteries - Land, Equipment, and Existing Structures
139A		Environmental Protection - All Other - Salaries
139B		Environmental Protection - All Other - All other Direct
139C		Environmental Protection - All Other - Construction
139D		Environmental Protection All Other - Land, Equipment, and Existing Structures
140A	ECONOMIC	Planning and Zoning - Salaries
140B	& PHYSICAL	Planning and Zoning - All other Direct
140C	DEVELOP	Planning and Zoning - Construction
140D		Planning and Zoning - Land, Equipment, and Existing Structures
141A		Economic Development - Salaries
141B		Economic Development - All other Direct				136,190	18,488	145,412
141C		Economic Development - Construction	921,234	2,538,941	1,515,829	1,587,097	1,244,645	742,544
141D		Economic Development - Land, Equipment, and Existing Structures
142A		Community Development - Salaries
142B		Community Development - All other Direct
142C		Community Development - Construction
142D		Community Development - Land, Equipment, and Existing Structures
143A		Housing and Urban Renewal - Salaries
143B		Housing and Urban Renewal - All other Direct
143C		Housing and Urban Renewal - Construction
143D		Housing and Urban Renewal - Land, Equipment, and Existing Structures
144A		Special Employment Programs (JTPA) - Salaries
144B		Special Employment Programs (JTPA) - All other Direct
144C		Special Employment Programs (JTPA) - Construction
144D		Special Employment Programs (JTPA) - Land, Equipment, and Existing Structures
145A		Economic and Physical Development - All Other - Salaries [A]
145B		Economic and Physical Development - All Other - All other Direct	115,780	29,969
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
148C		Social Services - Construction
148D		Social Services - Land, Equipment, and Existing Structures
149B		Subsidies Paid: Hospitals - City Owned - All other Direct
150B		Subsidies Paid: Hospitals - Private Owned - All other Direct
151A		Other Human Services: Legal Aid - Salaries
151B		Other Human Services: Legal Aid - All other Direct
151C		Other Human Services: Legal Aid - Construction
151D		Other Human Services: Legal Aid - Land, Equipment, and Existing Structures
152A		Human Services - All Other - Salaries
152B		Human Services - All Other - All other Direct
152C		Human Services - All Other - Construction
152D		Human Services - All Other - Land, Equipment, and Existing Structures
153A	CULTURE	Recreation and Parks - Salaries
153B	RECREATION	Recreation and Parks - All other Direct
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	483,082	341,055	152,725
158B		Water and Sewer - All other Direct	609,269	647,984	236,158
158C		Water and Sewer - Construction	1,286,897	411,093
158D		Water and Sewer - Land, Equipment, and Existing Structures	266,334	334,936	5,011,797
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	247,863	261,994	139,833
161D	SERVICE	Water and Sewer - Debt Service Principal Payments	364,829	350,698	170,222
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			133,162	190,876	158,912	340,138
166D		All Other - Debt Service Principal Payments			2,388,779	124,006	156,847
167B	PENSION	Direct Benefit Program - Pension Fund operated by the Unit
168B	FRINGE	Fringe Benefits Unallocated - (B)
169B		Separation Allowance - Law Enforcement Officers -(B)
170B		Separation Allowance - Other Employees - (B)
171B		Supplemental Retirement Income Plan for Law Enforcement Officers - (B)	28,578	26,255	25,193	23,524	19,816	19,884
172B		Fringe Benefits Other - (B)
173A		Multi-County Library District, County, or Other Municipality Authority
173B	INTERGOV	Multi-County Library District, County, or Other Municipality (Item number)
173C	EXPEND	Multi-County Library District, County, or Other Municipality (Amount)
174A		General Governmental Actitivies shared with the County (County)
174B		General Governmental Actitivies shared with the County (Item number)
174C		General Governmental Actitivies shared with the County (Amount)
175A		Highways (Payments to State) (State)
175B		Highways (Payments to State) (Item number)
175C		Highways (Payments to State) (Amount)
176A		Others - Name of Payee #1
176B		Others - 1 (B)
176C		Others - 1 (C)
177A		Others - Name of Payee #2
177B		Others - 2 (B)
177C		Others - 2 (C)
178A		Others - Name of Payee #3
178B		Others - 3 (B)
178C		Others - 3 (C)
179	PART 6	Current Year Levy Excluding Motor Vehicles	4,672,986	4,525,113	4,335,644	4,057,235	3,804,985	3,238,478
180	OTHER	Current Year Levy Motor Vehicles Only	488	1,382	2,358	1,548	1,407	2,659
181	DATA	Uncollected Taxes - Current Year's Levy - Excluding Motor Vehicles	60,687	13,880	2,358	3,106	9,695	11,775
182		Uncollected Taxes - Current Year's Levy - Motor Vehicles		156	135	16	3	38
183		Percentage of Taxes Collected - Current Year All Property	98.7	99.69	99.94	99.92	99.75	99.64
184		Percentage of Taxes Collected - Current Year - Excluding Motor Vehicles	98.7	99.69	99.95	99.92	99.75	99.64
185		Percentage of Taxes Collected - Current Year - Motor Vehicles	100.	88.71	94.27	98.97	99.79	98.57
186		Total Amount of Expenditures for Salaries and Wages to Unit's Own Personnal
187A		Capital Reserve or Available Funds - Schools - July 1, Previous Year
187B		Capital Reserve or Available Funds - Schools - June 30, Current Year
188A		Capital Reserve or Available Funds - Hospitals - July 1, Previous Year
188B		Capital Reserve or Available Funds - Hospitals - June 30, Current Year
189A	PART 7	Cash on Hand and in Bank, and Securities - Held in Debt Service Fund
189B	CASH &	Cash on Hand and in Bank, and Securities - Construction Bond Fund - Unexpended bond proceeds
189C	INVEST	Cash on Hand and in Bank, and Securities - All Other	8,291,487	8,413,775	8,603,071	6,914,962	6,363,814	5,149,883
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	12,363,072	10,337,541	15,205,900	8,651,803	7,369,718	6,076,058
194B	FISCAL	Amounts - Subtract proceeds of refunding debt
194C	SUMMARY	Amounts - Subtract interfund transfers in	2,932,005	1,146,389		2,402,683	1,638,656	987,174
194D		Amounts - Net Revenues per AFIR	9,431,067	9,191,152	15,205,900	6,249,120	5,731,062	5,088,884
		Calculated amount	9,431,067	9,191,152	15,205,900	6,249,120	5,731,062	5,088,884
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference
195A		Amounts - Total Expenditures and other financing sources per audit	12,133,776	10,343,455	13,241,009	7,963,303	6,213,543	5,260,353
195B		Amounts - Subtract payments to refunding debt escrow agent
195C		Amounts - Subtract interfund transfers out	2,932,005	1,146,389		2,402,683	1,638,656	987,174
195D		Amounts Net Expenditures per AFIR	9,201,771	9,197,066	13,241,009	5,560,620	4,574,887	4,273,179
		Calculated amount	9,201,771	9,197,066	13,241,009	5,560,620	4,574,887	4,273,179
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference

	PART 10

950		Name of Official Signatory	Calvin Peck
951		Title of Official	Village Manager
952		Date Certified	10/31/2008	11/30/2007	12/28/2006
953		Person to Contact	Calvin Peck
954		Title of Person to Contact	Village Manager
955		Telephone Number	(910)457-9700
956		Facsimile Number	(910)457-6206

Go to top of page Key Ratios and Operations Statistics of Water and Sewer Systems for
Village of Bald Head Island

	2008	2007	2006	2005	2004	2003

Population	251	241	229	217	205	189
Population Group	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below	No Electric 499 and Below
Total Operating Revenues	$1,681,427	1,900,488	821,537	0	0	0
Total Operating Revenues Per Capita	$6,699	7,886	3,587	0	0	0
Group Weighted Average Revenues Per Capita	595	613	650	500	458	433
State Weighted Average Revenues Per Capita	364	367	356	331	308	295

% to Total Operating Revenues
Operating Expenses	76.95%	61.89%	58.17%	0.00%	0.00%	0.00%
Group Weighted Average	108.83%	101.54%	96.89%	104.72%	113.88%	111.86%
State Weighted Average	86.74%	82.44%	81.55%	85.60%	89.13%	90.84%

Operating Margin	23.05%	38.11%	41.83%	0.00%	0.00%	0.00%
Group Weighted Average	-8.83%	-1.54%	3.11%	-4.72%	-13.88%	-11.86%
State Weighted Average	13.26%	17.56%	18.45%	14.40%	10.87%	9.16%

Operating Transfers In/(out)	29.74%	18.42%	114.60%	0.00%	0.00%	0.00%
Group Weighted Average	-37.54%	5.75%	11.19%	4.46%	-1.78%	-1.67%
State Weighted Average	3.96%	-0.78%	-0.58%	-0.79%	-1.21%	-0.99%

Net Income before capital contributions	39.86%	46.25%	141.25%	0.00%	0.00%	0.00%
Group Weighted Average	-49.57%	1.56%	12.89%	-5.37%	-12.02%	-13.35%
State Weighted Average	13.45%	11.89%	9.65%	8.63%	2.88%	0.31%

Key Ratios and Cash Flow

Quick Ratio	1.59	1.80	1.53	N/A	N/A	N/A
Group Weighted Average	2.94	2.93	2.92	1.92	2.91	3.17
State Weighted Average	2.95	2.90	2.82	1.81	2.76	3.04

Days Sales in Receivables	60.4	33.2	73.4	N/A	N/A	N/A
Group Weighted Average	60.9	93.0	57.8	67.2	65.9	57.3
State Weighted Average	55.3	59.9	57.8	59.9	65.7	60.0

Days Cash on Hand	165.1	253.2	455.3	0.0	0.0	0.0
Group Weighted Average	405.4	377.8	421.0	376.8	361.6	392.6
State Weighted Average	457.8	497.5	458.0	423.5	407.9	414.8

Cash flow from Operations	$449,140	910,299	241,122	0	0	0

Debt to Equity	1.36	2.15	3.96	0.00	0.00	0.00
Group Weighted Average	0.14	0.15	0.15	0.13	0.12	0.14
State Weighted Average	0.56	0.55	0.52	0.52	0.52	0.50

Debt per Capita	23,961	26,469	29,388	0	0	0
Group Weighted Average	855	883	920	611	531	577
State Weighted Average	1,136	1,091	989	929	855	852

Capital Expenditures:	2008	2007	2006	2005	2004	2003
	$1,553,231	746,029	5,011,797	0	0	0

	2002	2001	2000	1999
	$0	0	0	0

Capital Contributions: Excluded from income above	$788,628	386,235	539,068	0	0	0


Operating Statistics

Estimated population of the areas served Water	0	5,283	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	73,802	84,646	NA	NA	NA	NA
Number of Gallons of Sewage Processed (000) omitted	0	37,428	NA	NA	NA	NA

Number of Gallons of Water Billed (000) omitted	68,811	83,784	NA	NA	NA	NA
Number of Gallons of Sewage Billed (000) omitted	6,069	37,033	NA	NA	NA	NA

Ratio of Water Billed to Water Processed	0.93237	0.98982	NA	NA	NA	NA
Ratio of Sewage Billed to Sewage Processed		0.98945	NA	NA	NA	NA

Total Revenue from Water Sales	654,565	657,531	NA	NA	NA	NA
Total Revenue from Sewage Sales	642,151	594,406	NA	NA	NA	NA

Water Revenue per 1000 gallons of Sales		124.46167	NA	NA	NA	NA
Sewage Revenue per 1000 gallons of Sales			NA	NA	NA	NA

Group Average Sales per thousand Gallons Water	$3,526.31757	$3,934.54117	NA	NA	NA	NA
Group Average Sales per thousand Gallons Sewage	$2,331.22681	$2,500.46314	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	$9.50980	7.84784	NA	NA	NA	NA
Residential Sewage Sales per thousand Gallons		16.05078	NA	NA	NA	NA

Water Sales per thousand Gallons outside Municipal Limits			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 %	82.85%	58.36%	60.56%	117.50%	60.78%
Group average FBA %	128.31%	109.03%	122.45%	118.43%	115.47%
State average Electric/Non Electric Group FBA %	36.42%	36.90%	36.51%	37.14%	36.47%
State average FBA %	36.35%	36.76%	128.31%	36.37%	36.20%

Municipal Population Group: No Electric 499 and Below

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2004 2005 2006 2007 2008

Municipality 99.75% 99.92% 99.94% 99.69% 98.70%

Pop. Group 97.61% 97.79% 97.71% 97.25% 96.62%

Statewide 97.31% 97.42% 97.55% 97.59% 97.97%

Municipal Population Group: No Electric 499 and Below

	2004	2005	2006	2007	2008
Municipality	99.75%	99.92%	99.94%	99.69%	98.70%
Pop. Group	97.61%	97.79%	97.71%	97.25%	96.62%
Statewide	97.31%	97.42%	97.55%	97.59%	97.97%

Municipal Population Group: No Electric 499 and Below

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2004 2005 2006 2007 2008

Municipality 0 0 0 0 0

Pop. Group 300 236 217 201 155

Statewide 548 505 495 478 456

Municipal Population Group: Under 500

	2004	2005	2006	2007	2008
Municipality	0	0	0	0	0
Pop. Group	300	236	217	201	155
Statewide	548	505	495	478	456

Municipal Population Group: Under 500

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2004 2005 2006 2007 2008

Property Tax $18,622 18,764 18,976 18,791 18,489

Utility 1,579 1,471 6,948 9,535 9,850

Sales Tax 194 217 233 246 232

Sales & Services 581 32 2 39 17

Intergovernmental 567 1,030 2,244 2,126 981

Debt Proceeds 0 0 30,131 0 0

Other Miscellaneous 6,413 7,284 7,867 7,401 8,005

Total $27,956 28,798 66,401 38,138 37,574

	2004	2005	2006	2007	2008
Property Tax	$18,622	18,764	18,976	18,791	18,489
Utility	1,579	1,471	6,948	9,535	9,850
Sales Tax	194	217	233	246	232
Sales & Services	581	32	2	39	17
Intergovernmental	567	1,030	2,244	2,126	981
Debt Proceeds	0	0	30,131	0	0
Other Miscellaneous	6,413	7,284	7,867	7,401	8,005
Total	$27,956	28,798	66,401	38,138	37,574

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2008
2008

Category Revenue
Per Capita

Property Tax $4,640,625
$18,489

Water/Sewer 2,472,357
9,850

Electric 0
0

Other Utilities 0
0

Sales Tax 58,574
232

Sales & Services 4,250
17

Intergovernment 246,117
981

Debt Proceeds 0
0

Miscellaneous 2,009,144
8,005

Total $9,431,067
$37,574

Municipal Population Group: No Electric 499 and Below

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2008
2008

Category Expenditures
Per Capita

General Government $1,048,161
$4,176

Water/Sewer 2,645,582
10,540

Electric 0
0

Other Utilities 0
0

Debt Service 612,692
2,441

Transportation 313,929
1,251

Public Safety 1,925,739
7,672

Other 2,655,668
10,580

Total $9,201,771
$36,660

Municipal Population Group: No Electric 499 and Below

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2008
2008

Category Expenditures
Per Capita

Salaries & Wages $2,347,037
$9,351

Water/Sewer Capital 1,553,231
6,188

Electric Capital 0
0

Other Capital 1,869,089
7,447

Other Operating 3,432,414
13,674

Total $9,201,771
$36,660

Municipal Population Group: No Electric 499 and Below

Last Updated 8/27/2009 8:51:09 AM



	2008	2008
Category	Revenue	Per Capita
Property Tax	$4,640,625	$18,489
Water/Sewer	2,472,357	9,850
Electric	0	0
Other Utilities	0	0
Sales Tax	58,574	232
Sales & Services	4,250	17
Intergovernment	246,117	981
Debt Proceeds	0	0
Miscellaneous	2,009,144	8,005
Total	$9,431,067	$37,574

Municipal Population Group: No Electric 499 and Below

North CarolinaDepartment of State TreasurerFinancial InformationVillage of Bald Head Island

Financial Graphs and Comparisons

North Carolina
Department of State Treasurer
Financial Information
Village of Bald Head Island