North Carolina
Department of State Treasurer
Financial Information
Town of Oak 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

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Incorporated 07/01/1999.

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	$5,306,256	4,963,214	4,763,084	4,833,108	4,785,534	3,619,019
		Utility	3,572,831	3,199,285	2,868,517	2,477,785	2,950,801	2,340,139
		Sales Tax	1,967,505	2,005,558	1,825,885	1,645,516	1,480,951	1,269,835
		Sales & Services	1,041,273	903,207	941,075	1,097,153	1,145,793	1,581,333
		Intergovernmental	1,518,145	1,899,148	1,812,011	1,221,048	1,390,976	1,187,771
		Debt Proceeds	39,322,329	7,112,652	1,502,299	2,147,000	692,101	399,095
		Other Miscellaneous	2,639,105	3,127,216	3,383,812	7,905,545	2,401,170	2,895,151
		Total	$55,367,444	23,210,280	17,096,683	21,327,155	14,847,326	13,292,343

	Expenditures by Function
		Utility	$16,039,432	5,922,412	3,196,860	4,268,710	3,904,677	2,850,644
		Debt Service	3,764,697	1,043,706	882,787	2,015,659	1,828,011	1,818,433
		Transportation	1,043,830	1,079,222	1,188,093	1,337,887	991,293	740,935
		General Government	2,827,219	4,826,238	3,912,780	1,986,125	2,045,287	1,980,978
		Public Safety	9,782,918	6,440,734	3,541,059	3,035,993	3,093,918	2,905,139
		Other	3,088,433	4,029,217	3,443,955	1,910,009	2,645,135	1,485,657
		Total	$36,546,529	23,341,529	16,165,534	14,554,383	14,508,321	11,781,786

	Expenditures by Object
		Salaries & Wages	$5,217,359	4,835,010	4,307,907	5,131,078	3,423,217	3,437,380
		Capital Outlay	19,725,676	9,360,748	4,460,875	3,086,005	3,354,219	1,783,126
		Other Operating + Debt Service	11,603,494	9,145,771	7,396,752	6,337,300	7,730,885	6,561,280
		Total	$36,546,529	23,341,529	16,165,534	14,554,383	14,508,321	11,781,786


	Per Capita Revenues by Source
		Property Tax	$642	613	618	656	672	515
		Utility	432	395	372	336	414	333
		Sales Tax	239	248	236	223	209	179
		Sales & Services	126	112	122	149	161	225
		Intergovernmental	184	235	235	166	195	169
		Debt Proceeds	4,760	879	195	291	97	57
		Other Miscellaneous	319	386	439	1,073	337	412
		Total	$6,702	2,868	2,217	2,894	2,085	1,890

	Per Capita Expenditures by Function
		Utility	$1,942	732	415	579	548	405
		Debt Service	456	129	114	274	257	259
		Transportation	126	133	154	182	139	105
		General Government	342	596	507	269	287	282
		Public Safety	1,184	796	459	412	435	413
		Other	374	498	447	259	372	211
		Total	$4,424	2,884	2,096	1,975	2,038	1,675

	Per Capita Expenditures by Object
		Salaries & Wages	$632	597	559	696	481	489
		Capital Outlay	2,388	1,157	579	419	471	254
		Other Operating	1,404	1,130	958	860	1,086	932
		Total	$4,424	2,884	2,096	1,975	2,038	1,675

	Population Group		No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999
		Number of Municipalites in Group	119	121	119	116	114	111
		Average Population In Group	4,702	4,808	4,820	4,759	4,871	4,838
		Town of Oak Island Population	8,261	8,093	7,711	7,369	7,120	7,033
	Group Average Per Capita Revenues by Source
		Property Tax	339	312	306	296	284	282
		Utility	315	316	326	307	292	279
		Sales Tax	160	158	154	146	140	120
		Sales & Services	81	79	74	70	68	67
		Intergovernmental	182	176	160	165	184	179
		Debt Proceeds	174	109	95	65	77	69
		Other Miscellaneous	126	161	126	110	97	132
		Total	1,377	1,311	1,241	1,159	1,142	1,128

	Group Average Per Capita Expenditures by Function
		Utility	377	334	305	290	305	298
		Debt Service	103	97	98	101	104	97
		Transportation	112	112	112	105	100	90
		General Government	170	160	156	154	159	136
		Public Safety	322	312	280	268	261	249
		Other	233	237	209	218	199	214
		Total	1,317	1,252	1,160	1,136	1,128	1,084

	Group Average Per Capita Expenditures by Object
		Salaries & Wages	421	408	390	385	359	354
		Capital Outlay	284	254	205	179	208	172
		Other Operating	612	590	565	572	561	558
		Total	1,317	1,252	1,160	1,136	1,128	1,084


General Fund Go to top of page			2008	2007	2006	2005	2004	2003
	General Fund revenues		$9,850,801	9,850,357	9,436,702	8,971,303	8,585,653	7,206,263
	General Fund expenditures		10,262,035	11,589,786	9,926,213	7,541,478	7,433,547	6,710,161
	Operating transfers in		741,239	308,000	117,065	974,000	273,129	364,062
	Operating transfers out		217,464	338,800	771,957	473,126	865,522	70,349
	Capital leases and installment purchase proceeds		-	1,151,000	1,409,749	272,000	235,651	-
	Other items		-	-	-	-	-	224,095
	Excess of revenues and other sources over (under) expenditures and other uses		112,541	(619,229)	265,346	2,202,699	795,364	1,013,910

	Fund balance available (FBA):
		In dollars	$3,399,760	4,349,126	4,806,032	4,974,745	2,794,255	1,986,989
		FBA as a % of GF Net Expenditures:
		Unit's FBA %	32.44	40.35	51.74	64.25	34.65	29.30
		Group weighted average FBA %	65.07	64.31	62.33	62.22	61.38	60.00
		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	8,261	8,093	7,711	7,369	7,120	7,033
		Population Group	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999
		Cash &Investments	$11,237,529	10,076,572	12,842,247	11,575,469	5,414,653	4,520,164
		Investment Earnings	407,236	609,089	461,239	195,700	37,566	48,221
		Tax Rate Equivalent	0.0097	0.0407	0.0321	0.0144	0.0029	0.0051
		Tax Rate Equivalent Group weighted average	0.0296	0.0439	0.0322	0.0212	0.0115	0.0166
		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	$4,203,291,615	1,495,372,965	1,438,801,906	1,359,556,372	1,311,218,930	946,641,455
		Tax Rate	0.1245	0.3300	0.3300	0.3500	0.3650	0.3800
		Tax Rate Group weighted average	0.2682	0.3126	0.3191	0.3626	0.3759	0.3833
		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	91.52	85.31	89.22	88.07
		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	$4,233,348,389	2,392,596,744	1,798,502,383	1,555,912,534	1,311,218,930	1,165,527,524
		EffectiveTax Rate	0.1236	0.2063	0.2640	0.3058	0.3650	0.3086
		Group weighted average Effective Tax Rate	0.2438	0.2610	0.2921	0.3093	0.3354	0.3376
		Statewide weighted average Effective Tax Rate	0.3765	0.3939	0.3987	0.4108	0.4209	0.4113
		Percent Collected	97.59	98.21	97.97	98.24	97.08	97.01
		Percent Collected Group weighted average	97.46	96.76	96.72	96.85	96.72	96.35
		Percent Collected Statewide	97.97	97.59	97.55	97.42	97.31	96.96
		Percent Collected Excluding Motor Vehicles	97.79	98.70	98.43	98.72	97.63	98.18
		Percent Collected Excluding Motor Vehicles Group weighted average	98.08	98.00	98.08	97.96	97.91	97.84
		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	89.76	86.26	88.56	88.05	85.16	77.77
		Percent Collected Motor Vehicles Only Group weighted average	85.75	86.04	86.22	85.87	85.76	84.39
		Percent Collected Motor Vehicles Only Statewide weighted average	86.74	86.71	86.80	87.31	87.62	86.69
		Tax Uncollected	13,160	86,780	96,232	84,055	139,697	107,601
		Tax Rate Equivalent	0.0003	0.0058	0.0067	0.0062	0.0107	0.0114
		Dominant County: Brunswick
	Debt Information
		Population Group	5,000 to 9,999	5,000 to 9,999	5,000 to 9,999	5,000 to 9,999	5,000 to 9,999	5,000 to 9,999
		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	71	93	117	131	171	#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	0.0577%	0.0861%	0.1199%	0.1450%	0.2078%	#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	$819,272	2,765,501	2,833,423	2,898,191	2,158,468	2,997,383
		--General Government	9,569,892	4,173,339	231,118	288,898	408,817	526,415
		Total*	$10,389,164	6,938,840	3,064,541	3,187,089	2,567,284	3,523,798
		* The total only includes the contracts that require Local Government Commission approval.
		Revenue Bond Debt	$33,987,843	1,105,817	1,263,790	1,421,764	1,579,738	1,737,712


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		8,261	8,093	7,711	7,369	7,120	7,033

1A	Non GASB34	General Fund Assets						2,992,805
1B	FISCAL	General Fund Liabilities						353,468
2A	SUMMARY	Debt-service Assets
2B		Debt service Liabilities
3A		Enterprise Assets						12,633,932
3B		Enterprise Liabilities						3,718,874
4A		Internal Service Assets
4B		Internal service Liabilities
5A		Special Revenue Assets						2,017,313
1.5A	GASB34	Governmental Activities Assets	35,030,652	15,778,109	20,157,730	16,154,412	13,243,396
1.5B	FISCAL	Governmental Activities Liabilities	14,656,362	8,211,875	2,859,076	1,637,177	2,516,267
3.5A	SUMMARY	Business Type Activities Assets	57,621,710	19,207,383	19,283,228	19,604,875	14,838,370
3.5B		Business Type Activities Liabilties	36,554,265	6,604,015	4,803,410	5,118,081	4,199,718
6.5A		Fiduciary Funds Assets	881,719		907,599	879,378
6.5B		Fiduciary Funds Liabilties	881,719		907,599	879,378
5B		Special Revenue Liabilities						786,303
6A		Trust & Agency Assets
6B		Trust & Agency Liabilities
7A		Capital Project Assets						257,014
7B		Capital Project Liabilities
8A		General Fixed Assets						9,527,612
9B		General Long term debt - Liabilities						2,990,725
10	PART 2	Current collections of unit-wide levy	5,147,268	4,857,814	4,646,056	4,687,158	4,648,561	3,489,809
11	TAX	Current collection of special tax districts
12	REVENUES	Prior years' levy collections	114,096	76,192	83,563	111,763	104,729	98,091
13		Penalties and interest	44,892	29,208	33,465	34,187	32,244	31,119
14		Collection of taxes previously written off
15		Animal tax	16,432	8,152	6,811	5,767	5,111	5,236
16		1% Local government sales and use tax	787,837	831,472	794,744	751,982	656,255	568,602
17		1/2% Local government sales and use taxes (Article 40)	411,466	404,499	347,420	296,773	279,654	290,747
18		1/2% Local government sales and use taxes (Article 42)	407,054	399,911	343,642	293,445	275,807	288,000
18.5		1/2% Local government sales and use taxes (Article 44)	361,148	369,676	340,079	303,316	269,235	122,486
19		Licenses Privilege					23,900	12,074
19.1		Privilege - Occupational & business licensing & permit taxes		63	9,282	19,581
19.2		Privilege -- All other privileges and pemits
20		General Municipal Vehicle Tax
21		Vehicle Tax for Public Transportation
22		Other licenses - Include CATV	167,882	184,194	134,573	130,906	120,226	113,767
23		Local occupancy tax	964,154	936,253	789,577	692,478	649,966	580,441
24		Prepared food tax
25		911 charges	32,341	10,199			12,259	49,583
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		11,360
29	REVENUES	General government
30		Public safety	1,307	183,633	74,868		34,351	26,350
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	10,000		156,680		700	15,000
39	STATE	State Payment in Lieu of Taxes
40	INTERGOV	Controlled substance tax	4,210	468	4,848	4,747	831	711
41	REVENUES	Intangibles tax reimbursement + Transistional Hold Harmless Revenues
42		Wireless Enhanced 911 Service Charges	60,010	52,972			64,815	66,087
43		Piped Natural Gas Charge Distribution
44		Utility franchise tax	380,642	365,624	350,889	320,528	301,269	280,972
45		Beer and Wine tax	37,280	34,845	32,548	31,515	30,205	29,202
46		Powell Bill	384,075	335,856	334,550	331,327	306,981	334,315
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		9,383			4,189	7,989
53		Transportation - Streets
54		Transportation - All other		13,440
55		Environmental protection			15,768		112,661	393,414
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		273,493	251,132	1,750
61	LOCAL	LOCAL Payment in lieu of taxes
62	INTERGOV	General government
63	REVENUES	Public safety	640,621	618,074	590,728	531,181	525,774	33,731
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					9,200
71	PERMITS	Building permits	135,565	258,778	321,780	421,319	332,673	245,535
72	& FEES	Inspection fees	40,980	26,860	23,730	17,650	37,760	23,690
72.1		Amusements licensing and permit taxes
73		Other permits	36,068	30,575	45,947	48,216	34,435	35,330
74	SALES &	Parking revenues
75	SERVICES	Rents and royalties				141,661	156,285	88,955
76		Airport
77		Fire protection charges						575,779
78		Solid waste	742,863	660,241	645,971	597,625	624,627	559,467
79		Ambulance and rescue squad charges	12,506	2,133	22,113	44,025	72,602	35,628
80		Cemeteries
81		Recreation service revenues	283,904	238,833	106,359	84,087	67,242	53,763
82		Library service revenues
83		Other cultural and recreational service revenues
84		Mass transit - city operated
85		Other sales and services	2,000	2,000	166,632	229,755	225,037	267,741
86	UTILITY	Water and sewer charges	3,322,159	2,956,885	2,633,993	2,477,785	2,950,801	2,340,139
87	REVENUES	Electric charges
88		Gas charges
88.1		Storm Water Fees	250,672	242,400	234,524
89	MISC.	On bond proceeds	466,463	161,764
90	REVENUES	On general and all other funds	407,236	609,089	461,239	195,700	37,566	48,221
91		Special assessments	33,369	711,135	1,256,462	6,208,059	944,084	1,619,986
92		Private contribution and donations	27,800		31,008	14,670	56,686	12,643
93		Sales of materials and fixed assets		1,420	15,825		46,406	12,146
94		Sales of real property			121,025
95		Nongovernment contributions for streets and traffic signals
96		Mixed drink surcharge					27,195	24,078
97		ABC profit distribution	141,530	142,140	105,414	99,228	44,258	22,496
98		Other miscellaneous revenues	169,285	46,594	61,139	51,971	28,645	89,925
99		Proceeds of the sale of bonds and notes	33,601,329
100		Proceeds of capital leases and installment purchases	5,721,000	7,112,652	1,502,299	2,147,000	692,101	399,095
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	1,016	3,801	4,071	5,734	4,849	1,826
106		Deposits other than utility					1,375	-1,750
107		Prepaid taxes	-514	424	-652	1,383	2,481	270
108		Prepaid privilege licenses						799
109A	PART 4	Governing body - Salaries	35,813	39,000	46,250	45,900	49,850	55,000
109B	GENERAL	Governing body - All other Direct	202,361	319,464	191,365	158,239	163,021	169,566
109C	GOVT	Governing body - Construction
109D		Governing body - Land, Equipment and Existing Structures
110A		Administration - Salaries	660,041	657,616	663,070	718,391	532,075	602,112
110B		Administration - All other Direct	712,828	626,890	803,687	395,967	665,112	610,584
110C		Administration - Construction	51,920	497,200
110D		Administration - Land, Equipment and Existing Structures	281,878	1,965,964	1,338,184	5,595	6,419
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	99,828	90,596	199,120	248,012	62,127	57,887
115B		Public Buildings - All other Direct	327,710	276,453	146,420	80,119	182,603	174,918
115C		Public Buildings - Construction
115D		Public Buildings - Land, Equipment, and Existing Structures	14,910		63,751	66,642		17,344
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	216,298	179,994	70,783	94,050	174,687	181,514
117B		Central Facilities - All other Direct	162,181	147,516	253,460	164,580	142,855	112,053
117C		Central Facilites - Construction
117D		Central Facilites - Land, Equipment, and Existing Structures	61,258	25,545	33,065	8,630	66,538
118A		General Government All Other - Salaries			51,864
118B		General Government All Other - All other Direct	193		51,761
118C		General Government All Other - Construction
118D		General Government All Other - Land, Equipment, and Existing Structures
119A	PUBLIC	Police and Communications - Salaries	1,071,546	1,108,640	1,026,421	1,314,471	855,086	823,674
119B	SAFETY	Police and Communications - All other Direct	596,437	608,307	567,975	209,343	490,783	518,283
119C		Police and Communications - Construction	3,299,542	2,381,411
119D		Police and Communications - Land, Equipment and Existing Structures	83,118	210,553	170,371	39,498	246,675	254,794
120A		Emergency Communications - Salaries	207,661	136,491	143,499	187,501	129,805	245,783
120B		Emergency Communications - All other Direct	129,372	94,199	77,123	21,050	272,522	181,409
120C		Emergency Communications - Construction
120D		Emergency Communications - Land, Equipment and Existing Structures	34,974	8,200		8,091
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	594,346	439,629	171,646	190,532	211,514	173,481
122B		Fire - All other Direct	651,154	579,616	331,467	276,161	238,209	152,915
122C		Fire - Construction	2,213,851
122D		Fire - Land, Equipment, and Existing Structures	9,887	13,657	312,092	10,000	26,883	7,099
123A		Inspectors - Salaries	430,410	432,096	374,628	495,169	244,835	208,469
123B		Inspectors - All other Direct	229,863	283,898	195,786	57,846	161,228	132,940
123C		Inspectors - Construction
123D		Inspectors - Land, Equipment, and Existing Structures				48,637	28,315	51,747
124A		Rescue Units - Salaries			32,533	55,770	38,751	38,359
124B		Rescue Units - All other Direct			35,340	47,515	41,325	27,495
124C		Rescue Units - Construction
124D		Rescue Units - Land, Equipment, and Existing Structures				30,881
125A		Animal Control - Salaries	67,668	55,964	33,734		28,144	27,180
125B		Animal Control - All other Direct	50,272	36,167	20,113		21,699	21,101
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					49,846	61,586
127B	TATION	Traffic Engineering - All other Direct					23,454	43,662
127C		Traffic Engineering - Construction
127D		Traffic Engineering - Land, Equipment, and Existing Structures					49,255
128A		Streets and Highways - Salaries	309,532	375,992	392,756	464,148	195,819	232,250
128B		Streets and Highways - All other Direct	352,642	431,944	409,122	568,692	532,819	285,057
128C		Streets and Highways - Construction
128D		Streets and Highways - Land, Equipment and Existing Structures		70,077	152,289	176,159	18,986	22,568
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	233,364	105,690	103,522	83,106	57,541	61,004
135B		Transportation - All Other - All other Direct	142,459	59,331	60,908	29,345	39,685	34,808
135C		Transportation - All Other - Construction
135D		Transportation - All Other - Land, Equipment, and Existing Structures	5,833	36,188	69,496	16,437	23,888
136A	ENVIRON	Solid Waste - Salaries	138,384	133,742	132,961	156,149	83,755	73,577
136B	MENTAL	Solid Waste - All other Direct	546,443	484,121	529,749	430,014	465,811	419,096
136C	PROTECTION	Solid Waste - Construction
136D		Solid Waste - Land, Equipment, and Existing Structures		126,652	93,539		121,627
137A		Drainage and Watershed - Salaries					37,158	10,625
137B		Drainage and Watershed - All other Direct					145,775	119,920
137C		Drainage and Watershed - Construction
137D		Drainage and Watershed - Land, Equipment, and Existing Structures					84,303	12,610
138A		Cemeteries - Salaries
138B		Cemeteries - All other Direct
138C		Cemeteries - Construction
138D		Cemeteries - Land, Equipment, and Existing Structures
139A		Environmental Protection - All Other - Salaries	52,265	42,632	22,234	47,689
139B		Environmental Protection - All Other - All other Direct	847,409	1,584,832	589,077	75,572	414,101
139C		Environmental Protection - All Other - Construction
139D		Environmental Protection All Other - Land, Equipment, and Existing Structures	16,429
140A	ECONOMIC	Planning and Zoning - Salaries
140B	& PHYSICAL	Planning and Zoning - All other Direct
140C	DEVELOP	Planning and Zoning - Construction
140D		Planning and Zoning - Land, Equipment, and Existing Structures
141A		Economic Development - Salaries
141B		Economic Development - All other Direct
141C		Economic Development - Construction
141D		Economic Development - Land, Equipment, and Existing Structures
142A		Community Development - Salaries
142B		Community Development - All other Direct
142C		Community Development - Construction
142D		Community Development - Land, Equipment, and Existing Structures
143A		Housing and Urban Renewal - Salaries
143B		Housing and Urban Renewal - All other Direct
143C		Housing and Urban Renewal - Construction
143D		Housing and Urban Renewal - Land, Equipment, and Existing Structures
144A		Special Employment Programs (JTPA) - Salaries
144B		Special Employment Programs (JTPA) - All other Direct
144C		Special Employment Programs (JTPA) - Construction
144D		Special Employment Programs (JTPA) - Land, Equipment, and Existing Structures
145A		Economic and Physical Development - All Other - Salaries [A]
145B		Economic and Physical Development - All Other - All other Direct				2,836
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	443,256	509,367	368,583	415,141	271,416	229,957
153B	RECREATION	Recreation and Parks - All other Direct	349,371	530,693	256,019	137,247	428,213	597,412
153C		Recreation and Parks - Construction	258,459	397,900
153D		Recreation and Parks - Land, Equipment, and Existing Structures	15,450	56,944	93,470		592,976	22,460
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	124,287
157B		Human Services - All Other - All other Direct	264,884	131,842	138,336	257,583
157C		Human Services - All Other - Construction			1,219,987	310,573
157D		Human Services - All Other - Land, Equipment, and Existing Structures	31,796	30,492		77,205
158A	UTILITY	Water and Sewer - Salaries	532,660	527,561	474,303	615,049	400,808	354,922
158B		Water and Sewer - All other Direct	2,160,401	1,854,886	1,807,926	1,366,004	1,415,515	1,101,218
158C		Water and Sewer - Construction	13,083,918	3,451,001	724,379		1,976,074	1,312,792
158D		Water and Sewer - Land, Equipment, and Existing Structures	262,453	88,964	190,252	2,287,657	112,280	81,712
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	271,766	93,328	180,286	133,782	141,961	155,206
161D	SERVICE	Water and Sewer - Debt Service Principal Payments	2,208,434	262,311	257,681	640,137	324,252	331,322
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	280,834	86,917	50,015	85,460	118,496	143,820
166D		All Other - Debt Service Principal Payments	1,003,663	601,150	394,805	1,156,280	1,243,302	1,188,085
167B	PENSION	Direct Benefit Program - Pension Fund operated by the Unit
168B	FRINGE	Fringe Benefits Unallocated - (B)
169B		Separation Allowance - Law Enforcement Officers -(B)	60,330				16,629
170B		Separation Allowance - Other Employees - (B)
171B		Supplemental Retirement Income Plan for Law Enforcement Officers - (B)	52,487	51,906	48,331	43,528	41,515	40,410
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	5,146,745	4,667,166	4,521,006	4,553,886	4,579,402	3,391,024
180	OTHER	Current Year Levy Motor Vehicles Only	127,578	190,649	221,282	217,327	208,856	206,386
181	DATA	Uncollected Taxes - Current Year's Levy - Excluding Motor Vehicles	113,993	60,590	70,920	58,081	108,706	61,713
182		Uncollected Taxes - Current Year's Levy - Motor Vehicles	13,062	26,190	25,312	25,974	30,991	45,888
183		Percentage of Taxes Collected - Current Year All Property	97.59	98.21	97.97	98.24	97.08	97.01
184		Percentage of Taxes Collected - Current Year - Excluding Motor Vehicles	97.79	98.70	98.43	98.72	97.63	98.18
185		Percentage of Taxes Collected - Current Year - Motor Vehicles	89.76	86.26	88.56	88.05	85.16	77.77
186		Total Amount of Expenditures for Salaries and Wages to Unit's Own Personnal	131,742	74,874	32,353	5,085,178
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	26,473,886	2,497,224
189C	INVEST	Cash on Hand and in Bank, and Securities - All Other	11,237,529	10,076,572	12,842,247	11,575,469	5,414,653	4,520,164
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	62,385,907	25,080,204	18,953,225	24,648,568	16,735,278	14,476,297
194B	FISCAL	Amounts - Subtract proceeds of refunding debt
194C	SUMMARY	Amounts - Subtract interfund transfers in	7,018,463	1,869,924	1,856,542	3,321,413	1,887,952	1,183,954
194D		Amounts - Net Revenues per AFIR	55,367,444	23,210,280	17,096,683	21,327,155	14,847,326	13,292,343
		Calculated amount	55,367,444	23,210,280	17,096,683	21,327,155	14,847,326	13,292,343
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference
195A		Amounts - Total Expenditures and other financing sources per audit	43,564,992	25,211,453	18,022,076	17,875,796	16,396,273	12,965,740
195B		Amounts - Subtract payments to refunding debt escrow agent
195C		Amounts - Subtract interfund transfers out	7,018,463	1,869,924	1,856,542	3,321,413	1,887,952	1,183,954
195D		Amounts Net Expenditures per AFIR	36,546,529	23,341,529	16,165,534	14,554,383	14,508,321	11,781,786
		Calculated amount	36,546,529	23,341,529	16,165,534	14,554,383	14,508,321	11,781,786
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference

	PART 10

950		Name of Official Signatory	Patricia P. Galloway
951		Title of Official	Finance Director
952		Date Certified	12/30/2008	12/10/2007	11/20/2006
953		Person to Contact	Patricia P. Galloway
954		Title of Person to Contact	Finance Director
955		Telephone Number	910-201-8016
956		Facsimile Number	910-278-3400

Go to top of page Key Ratios and Operations Statistics of Water and Sewer Systems for
Town of Oak Island

	2008	2007	2006	2005	2004	2003

Population	8,261	8,093	7,711	7,369	7,120	7,033
Population Group	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999
Total Operating Revenues	$3,262,110	2,956,885	2,633,993	2,477,785	2,271,316	1,914,586
Total Operating Revenues Per Capita	$395	365	342	336	319	272
Group Weighted Average Revenues Per Capita	396	397	412	394	373	354
State Weighted Average Revenues Per Capita	364	367	356	331	308	295

% to Total Operating Revenues
Operating Expenses	92.87%	88.65%	97.70%	104.65%	93.14%	89.66%
Group Weighted Average	93.18%	90.16%	87.25%	90.21%	91.34%	93.36%
State Weighted Average	86.74%	82.44%	81.55%	85.60%	89.13%	90.84%

Operating Margin	7.13%	11.35%	2.30%	-4.65%	6.86%	10.34%
Group Weighted Average	6.82%	9.84%	12.75%	9.79%	8.66%	6.64%
State Weighted Average	13.26%	17.56%	18.45%	14.40%	10.87%	9.16%

Operating Transfers In/(out)	3.30%	2.95%	-10.13%	-54.19%	29.25%	18.93%
Group Weighted Average	-3.22%	-2.12%	0.26%	-0.43%	-5.40%	-1.68%
State Weighted Average	3.96%	-0.78%	-0.58%	-0.79%	-1.21%	-0.99%

Net Income before capital contributions	10.80%	13.01%	-0.75%	-58.53%	38.48%	26.73%
Group Weighted Average	3.36%	-0.97%	6.51%	7.51%	0.89%	4.57%
State Weighted Average	13.45%	11.89%	9.65%	8.63%	2.88%	0.31%

Key Ratios and Cash Flow

Quick Ratio	1.83	1.40	2.54	2.30	2.87	2.67
Group Weighted Average	3.12	3.26	3.68	3.54	4.02	3.72
State Weighted Average	2.95	2.90	2.82	1.81	2.76	3.04

Days Sales in Receivables	64.7	51.9	47.3	47.2	71.0	47.3
Group Weighted Average	52.2	52.6	53.8	53.5	60.0	55.4
State Weighted Average	55.3	59.9	57.8	59.9	65.7	60.0

Days Cash on Hand	239.2	245.1	178.8	252.2	205.3	253.4
Group Weighted Average	439.3	462.5	413.6	388.8	421.1	468.9
State Weighted Average	457.8	497.5	458.0	423.5	407.9	414.8

Cash flow from Operations	$99,314	722,558	68,159	5,398	408,526	419,608

Debt to Equity	2.35	0.39	0.29	0.30	0.27	0.36
Group Weighted Average	0.31	0.28	0.25	0.23	0.27	0.22
State Weighted Average	0.56	0.55	0.52	0.52	0.52	0.50

Debt per Capita	4,280	705	536	586	394	446
Group Weighted Average	631	533	484	493	509	525
State Weighted Average	1,136	1,091	989	929	855	852

Capital Expenditures:	2008	2007	2006	2005	2004	2003
	$13,346,371	3,539,965	914,631	2,287,657	2,088,354	1,394,504

	2002	2001	2000	1999
	$2,519,146	489,247	488,925	0

Capital Contributions: Excluded from income above	$60,049	0	3,990	5,310,060	792,146	804,455


Operating Statistics

Estimated population of the areas served Water	0	8,114	NA	NA	NA	NA
Estimated population of the areas served Sewer	0	1,135	NA	NA	NA	NA

Number of Gallons of Water Processed (000) omitted	386,567	379,916	NA	NA	NA	NA
Number of Gallons of Sewage Processed (000) omitted	54,421	57,239	NA	NA	NA	NA

Number of Gallons of Water Billed (000) omitted	372,037	375,302	NA	NA	NA	NA
Number of Gallons of Sewage Billed (000) omitted	54,423	56,232	NA	NA	NA	NA

Ratio of Water Billed to Water Processed	0.96241	0.98786	NA	NA	NA	NA
Ratio of Sewage Billed to Sewage Processed	1.00004	0.98241	NA	NA	NA	NA

Total Revenue from Water Sales	3,907,211	1,825,175	NA	NA	NA	NA
Total Revenue from Sewage Sales	736,864	614,196	NA	NA	NA	NA

Water Revenue per 1000 gallons of Sales		224.94146	NA	NA	NA	NA
Sewage Revenue per 1000 gallons of Sales		541.14185	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	$2.04268	5.15506	NA	NA	NA	NA
Residential Sewage Sales per thousand Gallons	$17.10316	10.58445	NA	NA	NA	NA

Water Sales per thousand Gallons outside Municipal Limits			NA	NA	NA	NA
Sewage Sales per thousand Gallons outside Municipal Limits		12.19532	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 %	34.65%	64.25%	51.74%	40.35%	32.44%
Group average FBA %	61.38%	62.22%	62.33%	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%	61.38%	36.37%	36.20%

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

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2004 2005 2006 2007 2008

Municipality 97.08% 98.24% 97.97% 98.21% 97.59%

Pop. Group 96.72% 96.85% 96.72% 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	97.08%	98.24%	97.97%	98.21%	97.59%
Pop. Group	96.72%	96.85%	96.72%	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 171 131 117 93 71

Statewide 548 505 495 478 456

Municipal Population Group: 5,000 to 9,999

	2004	2005	2006	2007	2008
Municipality	0	0	0	0	0
Pop. Group	171	131	117	93	71
Statewide	548	505	495	478	456

Municipal Population Group: 5,000 to 9,999

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2004 2005 2006 2007 2008

Property Tax $672 656 618 613 642

Utility 414 336 372 395 432

Sales Tax 209 223 236 248 239

Sales & Services 161 149 122 112 126

Intergovernmental 195 166 235 235 184

Debt Proceeds 97 291 195 879 4,760

Other Miscellaneous 337 1,073 439 386 319

Total $2,085 2,894 2,217 2,868 6,702

	2004	2005	2006	2007	2008
Property Tax	$672	656	618	613	642
Utility	414	336	372	395	432
Sales Tax	209	223	236	248	239
Sales & Services	161	149	122	112	126
Intergovernmental	195	166	235	235	184
Debt Proceeds	97	291	195	879	4,760
Other Miscellaneous	337	1,073	439	386	319
Total	$2,085	2,894	2,217	2,868	6,702

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2008
2008

Category Revenue
Per Capita

Property Tax $5,306,256
$642

Water/Sewer 3,322,159
402

Electric 0
0

Other Utilities 250,672
30

Sales Tax 1,967,505
239

Sales & Services 1,041,273
126

Intergovernment 1,518,145
184

Debt Proceeds 39,322,329
4,760

Miscellaneous 2,639,105
319

Total $55,367,444
$6,702

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

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2008
2008

Category Expenditures
Per Capita

General Government $2,827,219
$342

Water/Sewer 16,039,432
1,942

Electric 0
0

Other Utilities 0
0

Debt Service 3,764,697
456

Transportation 1,043,830
126

Public Safety 9,782,918
1,184

Other 3,088,433
374

Total $36,546,529
$4,424

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

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2008
2008

Category Expenditures
Per Capita

Salaries & Wages $5,217,359
$632

Water/Sewer Capital 13,346,371
1,616

Electric Capital 0
0

Other Capital 6,379,305
772

Other Operating 11,603,494
1,404

Total $36,546,529
$4,424

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

Last Updated 8/27/2009 9:04:43 AM



	2008	2008
Category	Revenue	Per Capita
Property Tax	$5,306,256	$642
Water/Sewer	3,322,159	402
Electric	0	0
Other Utilities	250,672	30
Sales Tax	1,967,505	239
Sales & Services	1,041,273	126
Intergovernment	1,518,145	184
Debt Proceeds	39,322,329	4,760
Miscellaneous	2,639,105	319
Total	$55,367,444	$6,702

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

North CarolinaDepartment of State TreasurerFinancial InformationTown of Oak Island

Financial Graphs and Comparisons

North Carolina
Department of State Treasurer
Financial Information
Town of Oak Island