North Carolina
Department of State Treasurer
Financial Information
City of Cherryville



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

Institute of Government North Carolina Cities Web Site

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



Municipality Revenues and Expenditures Financial Profile
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201120102009200820072006

Revenues by Source







Property Tax$1,647,407 $1,602,590 $1,599,880 $1,551,550 $1,409,845 $1,405,035


Utility 7,755,712 6,910,964 6,657,306 6,947,726 6,382,369 7,294,260


Sales Tax 354,792 372,871 466,470 810,925 722,055 810,576


Sales & Services 779,805 701,772 719,561 680,854 561,911 432,205


Intergovernmental 1,128,772 997,183 1,265,300 1,382,491 552,077 842,724


Debt Proceeds - 225,000 189,300 2,021,788 504,866 -


Other Miscellaneous 195,832 86,933 463,789 1,103,799 562,879 328,509


Total$11,862,320 10,897,313 11,361,606 14,499,133 10,696,002 11,113,309










Expenditures by Function







Utility$7,008,273 6,520,199 6,750,638 6,959,434 6,007,926 6,408,695


Debt Service 747,859 833,697 863,502 863,762 647,034 288,583


Transportation 417,453 424,523 376,001 534,552 437,619 601,724


General Government 531,571 471,944 467,396 490,741 538,511 869,015


Public Safety 2,085,984 1,968,522 2,000,501 4,512,057 2,504,620 2,214,794


Other 743,076 754,764 964,314 942,621 1,507,838 1,728,408


Total$11,534,216 10,973,649 11,422,352 14,303,167 11,643,548 12,111,219










Expenditures by Object







Salaries & Wages$4,114,563 4,028,873 4,100,266 4,040,374 3,984,777 3,602,584


Capital Outlay 417,867 309,494 531,664 3,624,921 1,942,853 1,967,470


Other Operating + Debt Service 7,001,786 6,635,282 6,790,422 6,637,872 5,715,918 6,541,165


Total$11,534,216 10,973,649 11,422,352 14,303,167 11,643,548 12,111,219



















Per Capita Revenues by Source







Property Tax$286 277 277 273 251 253


Utility 1,345 1,193 1,154 1,223 1,136 1,311


Sales Tax 61 63 82 144 128 146


Sales & Services 135 121 125 120 100 78


Intergovernmental 196 172 219 243 98 151


Debt Proceeds - 39 33 356 90 -


Other Miscellaneous 34 15 80 194 100 59


Total$2,057 1,880 1,970 2,553 1,903 1,998










Per Capita Expenditures by Function







Utility$1,215 1,125 1,171 1,225 1,069 1,152


Debt Service 130 144 150 152 115 52


Transportation 72 73 65 94 78 108


General Government 92 82 81 87 96 156


Public Safety 362 340 347 794 446 398


Other 129 130 167 166 268 311


Total$2,000 1,894 1,981 2,518 2,072 2,177










Per Capita Expenditures by Object







Salaries & Wages$713 695 711 711 709 648


Capital Outlay 72 53 92 638 346 354


Other Operating 1,215 1,146 1,178 1,169 1,017 1,175


Total$2,000 1,894 1,981 2,518 2,072 2,177










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


Number of Municipalites in Group 21 19 20 21 20 20


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


City of Cherryville Population 5,768 5,795 5,767 5,680 5,620 5,563

Group Average Per Capita Revenues by Source







Property Tax 336 308317304301285


Utility 2,187 1,8281,7751,9601,8951,850


Sales Tax 130 112134161162152


Sales & Services 166 131125137120119


Intergovernmental 313 248223196220226


Debt Proceeds 141 708915312454


Other Miscellaneous 143 211227231184125


Total 3,416 2,9082,8903,1423,0062,811










Group Average Per Capita Expenditures by Function







Utility 1,929 1,6871,6891,8071,7001,712


Debt Service 150 13610214410999


Transportation 139 106125127148136


General Government 202 189192161181163


Public Safety 427 399359424405362


Other 423 385344420365329


Total 3,270 2,9022,8113,0832,9082,801










Group Average Per Capita Expenditures by Object







Salaries & Wages 673 597631637595593


Capital Outlay 349 274258438375348


Other Operating 2,243 2,0261,9182,0081,9381,860


Total 3,265 2,8972,8073,0832,9082,801


















General Fund
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201120102009200820072006

General Fund revenues$4,043,102 3,761,126 3,875,194 4,803,785 3,359,419 3,640,774

General Fund expenditures 4,107,334 4,040,641 4,237,812 4,869,749 3,985,641 4,491,673

Operating transfers in 226,200 89,263 398,127 240,600 320,426 30,400

Operating transfers out 32,000 - - 200,782 8,429 -

Capital leases and installment purchase proceeds - 75,000 189,300 54,000 48,000 159,030

Other items - - - - - -

Excess of revenues and other sources over (under) expenditures and other uses 129,968 (115,252) 224,809 27,854 (266,225) (661,469)










Fund balance available (FBA):







In dollars$499,433 188,828 279,203 249,497 239,179 394,616


FBA as a % of GF Net Expenditures:







Unit's FBA %12.074.766.904.976.069.11


Group weighted average FBA %48.5647.3441.3239.9437.6839.10


State weighted average Electric Group34.7233.6034.3235.3233.9235.62


State weighted average FBA %39.5337.4737.0336.3436.5436.96

















Enterprise Funds:
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Water/Sewer, Electric













Combined financial results:







Working capital$542,753 325,593 254,021 543,347 801,791 971,420


Quick ratio1.20 0.84 0.76 1.13 1.55 2.19


Net income198,867 (116,117)(364,101)408,427 (68,246)(105,547)


Cashflow from operations957,204 538,695 541,968 789,120 760,301 432,978


Depreciation & Amortization Expense601,691 593,185 635,792 584,099 542,141 478,297


























Cash, Investments and Financing
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201120102009200820072006











Population at July 1st of the Previous Year5,7685,7955,7675,6805,6205,563


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


Cash &Investments$599,951 $329,246 $439,931 $351,333 $2,843,466 $1,040,244


Investment Earnings399 1,959 1,845 43,238 40,138 44,686


Tax Rate Equivalent0.00010.00050.00050.01250.01240.0140


Tax Rate Equivalent Group weighted average0.00750.01030.02400.05600.07220.0561


Tax Rate Equivalent Statewide weighted average0.03170.02470.01330.05240.09200.0573


Latest year of Revaluation 200720072007200720032003


January 1, Prior Year Assessed Valuation$356,704,946 360,905,439 358,625,226 346,899,415 322,511,502 319,134,194


Tax Rate0.46000.44000.44000.44000.44000.4400


Tax Rate Group weighted average0.39140.37330.37810.38340.40660.4094


Tax Rate State Wide0.41220.40900.42620.42380.44500.4321


Assessment -to-Sales Ratio103.2298.3593.2796.8792.8597.29


Assessment -to-Sales Ratio Group weighted average98.1396.0190.5886.6889.3590.83


Assessment -to-Sales Ratio Statewide101.4798.2790.8188.5388.4192.28


Assessed Valuation Adjusted for Assesment to Sales Ratio$345,577,355 366,960,284 384,502,226 358,108,202 347,346,798 328,023,634


EffectiveTax Rate0.47480.43270.41040.42620.40850.4281


Group weighted average Effective Tax Rate0.38410.35840.34250.33230.36330.3719


Statewide weighted average Effective Tax Rate0.41830.40200.38700.37520.39340.3987


Percent Collected95.910095.730095.270094.700094.190093.3900


Percent Collected Group weighted average95.7996.1895.8295.9996.0095.42


Percent Collected Statewide97.4297.3597.3497.5697.5897.55


Percent Collected Excluding Motor Vehicles97.1296.8796.4695.9995.3695.49


Percent Collected Excluding Motor Vehicles Group weighted average96.7797.2096.8497.3097.3896.96


Percent Collected Excluding Motor Vehicles Statewide weighted average98.2598.2398.3098.6598.5998.61


Percent Collected Motor Vehicles Only 84.2085.5884.8183.4684.6278.98


Percent Collected Motor Vehicles Only Group weighted average81.5682.1682.5581.9682.2880.71


Percent Collected Motor Vehicles Only Statewide weighted average 86.4186.3886.5586.7486.7186.80


Tax Uncollected199,066 206,560 211,725 211,822 206,529 231,364


Tax Rate Equivalent0.05580.05720.05900.06110.06400.0725


Dominant County: Gaston






Debt Information








Population Group5,000 to 9,9995,000 to 9,9995,000 to 9,9995,000 to 9,9995,000 to 9,9995,000 to 9,999


Ratings:







Fitch







Moody'sA1A1Baa1A2A2A2


S & PA-A-A-A-A-A-











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




Enterprise GO Debt$225,000 395,000 575,000 760,000 950,000 1,150,000


General Government GO Debt0 0 0 0 0 0


Total General Obligation Debt225,000 395,000 575,000 760,000 950,000 1,150,000


Per Capita$39 68 100 134 169 207


Total Per Capita for the Population Group79 89 69 71 93 117


Total Per Capita Statewide450 449 455 456 478 495


Total per Assessed Valuation Adjusted for Current Year Sales0.0651%0.1076%0.1495%0.2122%0.2735%0.3506%


Total per Assessed Valuation Adjusted for Current Year Sales- Group Average0.0680%0.0786%0.0531%0.0577%0.0861%0.1199%


Total per Assessed Valuation Adjusted for Current Year Sales - Statewide0.4280%0.4134%0.3909%0.4132%0.4706%0.5275%


Total Authorized but not Issued General Obligation Debt
















Installment Sales Purchases and Lease Obligations







--Enterprise$300,617 328,172 354,712 380,274 404,894 428,606


--General Government1,426,860 1,587,591 1,746,917 1,903,651 3,629,076 1,280,680


Total*$1,727,476 1,915,763 2,101,628 2,283,925 4,033,970 1,709,286


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




Revenue Bond Debt $708,799 773,235 837,671 902,108 966,544 1,030,980


















Annual Financial Information Report Detail
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LineSectionDescription201120102009200820072006

Population at July 1st of the Previous Year Adjusted for Boundry Changes5,7685,7955,7675,6805,6205,563









1.5AFISCAL Governmental Activities Assets7,126,1617,109,0317,661,7018,057,9777,737,2835,388,939
1.5BSUMMARYGovernmental Activities Liabilities3,059,2643,176,1393,339,4593,633,5884,046,0471,463,223
3.5A
Business Type Activities Assets16,076,85016,311,89416,664,79417,123,74617,389,98019,811,806
3.5B
Business Type Activities Liabilties1,985,7862,441,2282,656,4802,751,3313,145,8653,528,341
6.5A
Fiduciary Funds Assets




172,728
6.5B
Fiduciary Funds Liabilties




11,874
10.0PART 2Current Collections of Unit -Wide Levy1,591,9241,530,7131,421,0671,447,1541,296,1061,296,370
11.0TAXCurrent Collections of Special Tax Districts





12.0REVENUESPrior Years' Levy Collections43,59358,310161,97386,41395,57091,543
13.0
Penalties and Interest11,89013,56716,84017,98318,16917,122
14.0
Collections of Taxes Previously Written Off





15.0
Animal Tax





15.1
Solid Waste Disposal Tax





16.0
1% Local Government Option Sales Tax170,024164,272183,487293,713259,940333,106
17.0
1/2% Local Government Option Sales Tax (40)102,903102,417110,441186,976166,073166,553
18.0
1/2% Local Government Option Sales Tax (42)82,53990,323109,493185,625166,073166,553
18.5
1/2% Local Government Option Sales Tax (44)-67415,85963,049144,611129,969144,364
19.0
Privilege Licenses8,8469,1859,1479,2929,9827,078
19.2
Privilege -- All other privileges and pemits





20.0
Auto Licenses




12,704
21.0
Vehicle Tax for Public Transportation





22.0
Other Licenses6,2685,2607,2667,14936,05743,664
23.0
Local Occupancy Tax





24.0
Prepared Food Tax





25.0
911 Charges





26.0
Gross Short Term lease and Rental Tax




820
27.0FEDERALPayments In Lieu of Taxes - Federal





28.0INTERGOVEquitable Sharing of Fed. Forfeited Prop.





29.0REVENUESGeneral Government





30.0
Public Safety


481,073

31.0
Transportation - Streets





32.0
Transportation - All Other103,090




33.0
Environmental Protection





34.0
Econ. & Phys. Dev. - Housing/Comm. Dev.





35.0
Econ. & Phys. Dev. - All Other





36.0
Human Services: Health, Mental Hlt & Hosp





37.0
Human Services: All Other





38.0
Culture & Recreation





39.0STATEPayments In Lieu of Taxes - State





40.0INTERGOVUnauthorized Substance Tax





41.0REVENUESTransitional Hold Harmless115,27086,88322,670


42.0
Wireless Enhanced 911 Service Charges





42.1
Emergency Telephone Services Fund (ETSF) Revenues (Do not include interest)





42.2
ETSF Interest Income





43.0
Piped Natural Gas Charge Distribution





44.0
Utility Franchise Tax336,592331,644333,811304,108261,522229,752
45.0
Beer and Wine Tax25,5418,22525,50925,88825,13724,426
46.0
Powell Bill179,164178,480199,935222,558197,908201,301
50.0
Court Fees - Facilities and Arrest Fees9651,3921,7101,4111,3081,500
51.0
General Government





52.0
Public Safety25,95020,88355,12754,93155,355139,609
53.0
Transportation - Streets



6,04726,707
54.0
Transportation - All Other





55.0
Environmental Protection

241,100240,000

56.0
Econ. & Phys. Dev. - Housing/Community Dev





57.0
Econ. & Phys. Dev. - All Other





58.0
Human Services -Health, Mental Health, Hosp





59.0
Human Services - All Other





60.0
Culture and Recreation


47,722

61.0LOCALPayments in Lieu of Taxes - Local

59,200


62.0INTERGOVGeneral Government337,400364,876321,438


63.0REVENUESPublic Safety4,8004,8004,8004,8004,8004,800
64.0
Transportation - Streets





65.0
Transportation - All Other





66.0
Environmental Protection




41,966
67.0
Economic and Physical Development





68.0
Human Services - Health, Mental Hlt & Hosp





69.0
Human Services - All Other





70.0
Culture and Recreation




172,663
71.0PERMITS Building Permits




5,600
72.0& FEESInspection Fees





72.1
Amusements licensing and permit taxes





73.0
Other Permits


10,4029,5961,679
74.0SALES &Parking Revenues




260
75.0SERVICESRents and Royalties71,35772,36176,36571,43966,19038,875
76.0
Airport





77.0
Fire Protection Charges





78.0
Solid Waste632,768568,595576,196538,755423,596339,865
79.0
Ambulance and Rescue Squad Charges





80.0
Cemeteries75,68060,81667,00070,66072,12553,205
81.0
Recreation Service Revenues





82.0
Library Service Revenues





83.0
Other Cultural and Rec Service Revenues





84.0
Mass Transit - City Operated





85.0
Other Sales and Services





86.0UTILITYWater and Sewer Charges1,999,4781,855,7731,879,3812,016,6801,858,7382,628,817
87.0REVENUESElectric Charges5,756,2345,055,1914,777,9254,931,0464,523,6314,665,443
88.0
Gas Charges





88.1
Storm Water Fees





89.0MISC.Investment Earnings - Bond Proceeds





90.0REVENUESInvestment Earnings - All Other Funds3991,9591,84543,23840,13844,686
91.0
Special Assessments



-11,8727,161
92.0
Private Contributions and Donations





93.0
Sales of Materials and Fixed Assets6,477

86,61891,019
94.0
Sale of Real Property


131,368
128,476
95.0
Nongovt Contr For Streets & Traffic Signals





96.0
ABC Mixed Drink Surcharge





97.0
ABC Profit Distribution36,47021,20021,10040,00015,00040,075
98.0
Other Miscellaneous Revenues



1,94236,566
99.0
Proceeds of Sale of Bonds and Notes





100.0
Proceeds of Capital Leases/Install Purchases
225,000189,3002,021,788504,866
101.0
Other137,37249,329424,431775,732371,017
102.0NON-REVSchool - Current Levy Collections





103.0RECEIPTSPrior Years' Levy Collections





104.0
Tax Collections for Other Units





105.0
Utilities Customer's Deposits




12,935
106.0
Deposits Other than Utility





107.0
Prepaid Taxes





108.0
Prepaid Privilege Licenses





109APART 4Governing Body - Salaries & Wages34,01037,10136,48036,48036,65533,993
109BGENERALGoverning Body - Other Direct





109CGOVTGoverning Body - Construction





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





110A
Administration - Salaries & Wages239,318276,913252,887264,069251,603155,081
110B
Administration - Other Direct209,088136,625159,866166,079228,155290,399
110C
Administration - Construction




25,799
110D
Administration - Purchase of P,P&E27,300




111A
Elections - Salaries & Wages





111B
Elections - Other Direct


4,1994,10512,582
111C
Elections - Construction





111D
Elections - Purchase of P,P&E





112A
Finance - Salaries & Wages




172,792
112B
Finance - Other Direct





112C
Finance - Construction





112D
Finance - Purchase of P,P&E





113A
Taxes - Salaries & Wages





113B
Taxes - Other Direct





113C
Taxes - Construction





113D
Taxes - Purchase of P,P&E





114A
Legal - Salaries & Wages





114B
Legal - Other Direct





114C
Legal - Construction





114D
Legal - Purchase of P,P&E





115A
Public Buildings - Salaries & Wages





115B
Public Buildings - Other Direct21,85521,30518,16319,91417,99313,581
115C
Public Buildings - Construction




105,644
115D
Public Buildings - Purchase of P,P&E





116A
Court Facilities - Salaries & Wages





116B
Court Facilities - Other Direct





116C
Court Facilities - Construction





116D
Court Facilities - Purchase of P,P&E





117A
Central Services - Salaries & Wages




37,731
117B
Central Services - Other Direct




11,868
117C
Central Services - Construction




9,545
117D
Central Services - Purchase of P,P&E





118A
Gen. Govt. All Other - Salaries & Wages





118B
Gen. Govt. All Other - Other Direct





118C
Gen. Govt. All Other - Construction





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





119APUBLICPolice & Comm - Traffic Control - Salaries and Wages1,079,1291,100,1701,121,8911,092,2161,039,390968,577
119BSAFETYPolice & Comm - Traffic Control - Other Direct133,953136,77398,331132,290140,851147,826
119C
Police & Comm - Traffic Control - Construction




78,099
119D
Police & Comm - Traffic Control - Purchase of P,P&E115,048
61,52667,65095,731
120A
Emergency Communications - Salaries & Wages





120B
Emergency Communications - Other Direct





120C
Emergency Communications - Construction





120D
Emergency Communications - Purchase of P,P&E





120B
Emergency Telephone Service Fund (ETSF) Expenditures - Operating





120C
ETSF Expenditures - Capital Construction





120D
ETSF Expenditures - Capital Purchases





121A
Emergency Mgmt - Salaries & Wages





121B
Emergency Mgmt - Other Direct





121C
Emergency Mgmt - Construction





121D
Emergency Mgmt - Purchase of P,P&E





122A
Fire - Salaries & Wages626,170603,213602,423588,044580,362500,374
122B
Fire - Other Direct81,45989,12978,44192,54185,692229,914
122C
Fire - Construction




199,286
122D
Fire - Purchase of P,P&E11,362

2,501,923524,797
123A
Inspectors - Salaries & Wages





123B
Inspectors - Other Direct





123C
Inspectors - Construction





123D
Inspectors - Purchase of P,P&E





124A
Rescue Units - Salaries & Wages





124B
Rescue Units - Other Direct





124C
Rescue Units - Construction





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





125A
Animal Control - Salaries & Wages





125B
Animal Control - Other Direct





125C
Animal Control - Construction





125D
Animal Control - Purchase of P,P&E





126A
Pub. Safety All Other - Salaries & Wages





126B
Pub. Safety All Other - Other Direct




45,828
126C
Pub. Safety All Other - Construction





126D
Pub. Safety All Other - Purchase of P,P&E





127ATRANSPORTraffic Engineering - Salaries & Wages





127BTATIONTraffic Engineering - Other Direct





127C
Traffic Engineering - Construction





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





128A
Streets and Highways - Salaries & Wages131,116121,556214,770216,735307,39195,039
128B
Streets and Highways - Other Direct75,40784,982102,905117,08780,61648,354
128C
Streets and Highways - Construction




4,300
128D
Streets and Highways - Purchase of P,P&E57,52413,2565,7743,899

129A
Street Cleaning - Salaries & Wages





129B
Street Cleaning - Other Direct





129C
Street Cleaning - Construction





129D
Street Cleaning - Purchase of P,P&E





130A
Powell Bill - Salaries & Wages




63,474
130B
Powell Bill - Other Direct153,406204,72952,552196,83149,61256,664
130C
Powell Bill - Construction





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




274,750
131A
Parking Facilities - Salaries & Wages





131B
Parking Facilities - Other Direct





131C
Parking Facilities - Construction





131D
Parking Facilities - Purchase of P,P&E





132A
Mass Transit - City - Salaries & Wages





132B
Mass Transit - City - Other Direct





132C
Mass Transit - City - Construction





132D
Mass Transit - City - Purchase of P,P&E





133B
Mass Transit - Private - Other Direct





134A
Airport - Salaries & Wages





134B
Airport - Other Direct





134C
Airport - Construction





134D
Airport - Purchase of P,P&E





135A
Transpor. All Other - Salaries & Wages




37,730
135B
Transpor. All Other - Other Direct




11,868
135C
Transpor. All Other - Construction




9,545
135D
Transpor. All Other - Purchase of P,P&E





136AENVIRONSolid Waste - Salaries & Wages385,313362,958362,705369,936382,939336,919
136BMENTALSolid Waste - Other Direct132,382120,045132,435155,333142,26545,344
136CPROTECTIONSolid Waste - Construction




21,222
136D
Solid Waste - Purchase of P,P&E2,77921,185138,00021,286

137A
Drainage & Watershed - Salaries & Wages





137B
Drainage & Watershed - Other Direct





137C
Drainage & Watershed - Construction





137D
Drainage & Watershed - Purchase of P,P&E





138A
Cemeteries - Salaries & Wages8,0418,0277,9017,8627,4646,583
138B
Cemeteries - Other Direct47,58442,54859,82941,64232,89626,936
138C
Cemeteries - Construction





138D
Cemeteries - Purchase of P,P&E



725
139A
Environ. All Other - Salaries & Wages




37,730
139B
Environ. All Other - Other Direct




11,868
139C
Environ. All Other - Construction




9,544
139D
Environ. All Other - Purchase of P,P&E





140AECONOMICPlanning & Zoning - Salaries & Wages




40,399
140B& PHYSICALPlanning & Zoning - Other Direct




12,955
140CDEVELOPPlanning & Zoning - Construction




151,664
140D
Planning & Zoning - Purchase of P,P&E





141A
Economic Development - Salaries & Wages



61,64810,773
141B
Economic Development - Other Direct
67,01265,77358,693
3,455
141C
Economic Development - Construction




40,444
141D
Economic Development - Purchase of P,P&E
4,98734,1478,48525,853
142A
Community Development - Salaries & Wages




2,693
142B
Community Development - Other Direct




863
142C
Community Development - Construction




10,111
142D
Community Development - Purchase of P,P&E





143A
Housing & Urban Renewal - Salaries & Wages





143B
Housing & Urban Renewal - Other Direct





143C
Housing & Urban Renewal - Construction





143D
Housing & Urban Renewal - Purchase of P,P&E





144A
Special Empl Programs - Salaries & Wages





144B
Special Empl Programs - Other Direct





144C
Special Empl Programs - Construction





144D
Special Empl Programs - Purchase of P,P&E





145A
Econ. Dev. All Other - Salaries & Wages





145B
Econ. Dev. All Other - Other Direct




41,966
145C
Econ. Dev. All Other - Construction





145D
Econ. Dev. All Other - Purchase of P,P&E





146AHUMANHealth - Salaries & Wages





146BSERVICESHealth - Other Direct





146C
Health - Construction





146D
Health - Purchase of P,P&E





147A
Mental Health - Salaries & Wages





147B
Mental Health - Other Direct





147C
Mental Health - Construction





147D
Mental Health - Purchase of P,P&E





148A
Social Services - Salaries & Wages





148B
Social Services - Other Direct





148C
Social Services - Construction





148D
Social Services - Purchase of P,P&E





149B
Hospital-City - Other Direct





150B
Hospital-Private - Other Direct





151A
Legal Aid - Salaries & Wages





151B
Legal Aid - Other Direct





151C
Legal Aid - Construction





151D
Legal Aid - Purchase of P,P&E





152A
Human Serv. All Other - Salaries & Wages





152B
Human Serv. All Other - Other Direct





152C
Human Serv. All Other - Construction





152D
Human Serv. All Other - Purchase of P,P&E





153ACULTURE Recreation & Parks - Salaries & Wages70,86077,17278,15882,1419,0587,728
153BRECREATIONRecreation & Parks - Other Direct63,34146,50468,59892,22598,854220,671
153C
Recreation & Parks - Construction





153D
Recreation & Parks - Purchase of P,P&E32,7764,32616,768105,018746,136
154A
Coliseum - Salaries & Wages





154B
Coliseum - Other Direct





154C
Coliseum - Construction





154D
Coliseum - Purchase of P,P&E





155A
Museums - Salaries & Wages





155B
Museums - Other Direct





155C
Museums - Construction





155D
Museums - Purchase of P,P&E





156A
Libraries - Salaries & Wages





156B
Libraries - Other Direct





156C
Libraries - Construction





156D
Libraries - Purchase of P,P&E





157A
Cult. & Recr. All Other - Salaries & Wages





157B
Cult. & Recr. All Other - Other Direct




51,741
157C
Cult. & Recr. All Other - Construction




540,000
157D
Cult. & Recr. All Other - Purchase of P,P&E





158AUTILITYWater & Sewer - Salaries & Wages938,651898,758874,815880,383809,086660,844
158B
Water & Sewer - Other Direct 540,562566,243668,895592,955549,738880,417
158C
Water & Sewer - Construction




148,686
158D
Water & Sewer - Purchase of P,P&E70,089243,582141,830772,584247,354178,548
159A
Electric Power - Salaries & Wages601,955543,005548,236502,508499,181434,124
159B
Electric Power - Other Direct4,756,0274,246,4534,383,2434,066,9283,600,3103,945,793
159C
Electric Power - Construction




160,283
159D
Electric Power - Purchase of P,P&E100,98922,158133,619144,076302,257
160A
Natural Gas - Salaries & Wages





160B
Natural Gas - Other Direct





160C
Natural Gas - Construction





160D
Natural Gas - Purchase of P,P&E





161.1A
Storm Water - Salaries & Wages





161.1B
Storm Water - Other Direct





161.1C
Storm Water - Construction





161.1D
Storm Water - Purchase of P,P&E





161BDEBTWater & Sewer - Interest & Fees66,09952,70660,73062,17698,359288,583
161DSERVICEWater & Sewer - Principal308,791302,767305,873309,046308,921
162B
Electric - Interest & Fees18,7155,4387,66026,78311,255
162D
Electric - Principal25,00451,89859,63957,69565,673
163B
Gas - Interest & Fees





163D
Gas - Principal





164B
School - Interest & Fees





164D
School - Principal





165B
Hospital - Interest & Fees





165D
Hospital - Principal





166B
All Other - Interest & Fees78,365189,439123,57792,19812,735
166D
All Other - Principal250,885231,449306,023315,864150,091
167BPENSIONDirect Benefit Program - Other Direct





168BFRINGEFringe Benefits Unallocated





169B
Separation Allowance - Law Enforcement




7,534
170B
Separation Allowance - Other Employees





171B
Supplemental Retirement - Law Enforcement38,86339,23737,88937,39337,79737,356
172B
Fringe Benefits Other




91,799
173AINTERGOVMulti-Cnty Libr Dis,Cnty,Or Other - Recipient





173BEXPENDMulti-Cnty Libr Dis,Cnty,Or Other - Item #





173C
Multi-Cnty Libr Dis,Cnty,Or Other - Amount





174A
Gen Gov Activities Shared W/ Cnty - Recipient





174B
Gen Gov Activities Shared W/ Cnty - Item #





174C
Gen Gov Activities Shared W/ Cnty - Amount





175A
Highways (Payments to State) - Recipient





175B
Highways (Payments to State) - Item No.





175C
Highways (Payments to State) - Amount





176A
Other - Intergovt. Expenditures - Recipient




Cherryville Rescue Squad
176B
Other - Intergovt. Expenditures - Item #





176C
Other - Intergovt. Expenditures - Amount




5,000
177A
Other - Intergovt. Expenditures - Recipient





177B
Other - Intergovt. Expenditures - Item #





177C
Other - Intergovt. Expenditures - Amount





178A
Other - Intergovt. Expenditures - Recipient





178B
Other - Intergovt. Expenditures - Item #





178C
Other - Intergovt. Expenditures - Amount





179.0
Current year's levy -- Excluding motor vehicles1,504,139.1,437,397.001,420,201.001,368,984.001,226,422.001,213,340.00
180.0
Current year's levy -- Motor vehicles (only)155,731.161,589.00161,433.00156,883.00149,614.00176,648.00
181.0PART 6Uncollected Taxes - Current Year's Levy Except Mot Veh43,335.44,971.0050,292.0054,939.0056,915.0054,716.00
182.0OTHERUncollected Taxes - CY Levy -Motor Vehicles24,61123,30224,52225,94123,01537,123
183.0DATAPercentage of Taxes Collected - All Property %95.9195.7395.2794.7094.1993.39
184.0DATAPercentage of Taxes Collected - Exclude Motor Vehicles%97.1296.8796.4695.9995.3695.49
185.0
Percentage of Taxes Collected - Motor Vehicles %84.2085.5884.8183.4684.6278.98
186.0
Ttl Amt Salaries/Wages for Construction





187A
Capital Reserve Schools - July 1, 2009





187B
Capital Reserve Schools - June 30, 2010





188A
Capital Reserve Hospitals - July 1, 2009





188B
Capital Reserve Hospitals - June 30, 2010





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





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





189CINVESTCash On Hand & in Bank - All Other599,951329,246439,931351,3332,843,4661,040,244
190A PARTAppropriations Made During FY - B(1) - B(7)





190B 8Expenditures Made During FY - B(1) - B(7)





191.0
Investment in Property - B(1) - B(4)





192.0
Amount Expended During FY - B(5) and B(7)





193.0
Amount of Tax Revenues Taken Into Account





194APART 9Amount - Total Revenues11,862,32010,986,57611,361,60614,739,73310,987,49411,113,309
194BFISCALAmount - Subtract Refunding Bond Proceeds





194CSUMMARYAmount - Subtract Interfund Transfers In
89,263
240,600291,492
194D
Amount - Net Revenues11,862,32010,897,31311,361,60614,499,13310,696,00211,113,309


Calculated amount11,862,32010,897,31311,361,60614,499,13310,696,00211,113,309


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference





195A
Amount - Total Expenditures11,534,21611,062,91211,422,35214,543,76711,935,04012,111,219
195B
Amount - Subtract Pymts. to Refunded Debt Agent





195C
Amount - Subtract Interfund Transfers Out
89,263
240,600291,492
195D
Amount - Net Expenditures11,534,21610,973,64911,422,35214,303,16711,643,54812,111,219


Calculated amount11,534,21610,973,64911,422,35214,303,16711,643,54812,111,219


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference














401APart 10Number of residential accounts billed Water





401BWater /Number of residential accounts billed Sewer





402ASewer Amount processed and/or purchased in units Water

365


402BOperationsAmount processed and/or purchased in units Sewer

365


403A
Total amount billed in units - Water

164


403B
Total amount billed in units - Sewer

153


404A
Of the total in 403A above how many units were Residential W

119


404B
Of the total in 403B above how many units were Residential S

109


405A
Of the total in 403 above, how many units were Outside Muni W





405B
Of the total in 403 above, how many units were Outside Muni S





406A
Of the total in 405A above how many units were Residential W





406B
Of the total in 405B above how many units were Residential S





407A
Of the total in 403A, how many units were sold for redistribution





407B
Of the total in 403B how many unit were delivered in bulk





408A
Dollars related to 403A above

1,394,760


408B
Dollars related to 403B above

1,184,722


409A
Dollars related to 404A above

1,179,362


409B
Dollars related to 404B above

992,931


410A
Dollars related to 405A above





410B
Dollars related to 405B above





411A
Dollars related to 406A above





411B
Dollars related to 406B above





412A
Dollars related to 407A above





412B
Dollars related to 407B above





421A
Number of residential accounts billed - Water

2,679


421B
Number of residential accounts billed - Sewer

2,412


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

286


422B
Number of non-residential & bulk accounts billed - Sewer

266


423A
Estimated percentage of accounts outside of municipal limits
































950.0
OfficialBonny Alexander

951.0
TitleFinance Director

952.0
Date10/03/201110/29/201012/03/200902/09/200903/16/200801/26/2007
953.0
ContactBonny Alexander

954.0
TitleFinance Director

955.0
Phone704-435-1711




956.0
Fax704-435-1707




957.0
E-Mail:


















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Key Ratios and Operations Statistics of Water and Sewer Systems for



City of Cherryville













201120102009200820072006








Population
5,7685,7955,7675,6805,6205,563
Population Group
Electric 2,500 to 9,999 Electric 2,500 to 9,999 Electric 2,500 to 9,999 Electric 2,500 to 9,999 Electric 2,500 to 9,999 Electric 2,500 to 9,999
Total Operating Revenues
$2,020,4351,855,7731,879,3812,016,6801,858,7381,663,832
Total Operating Revenues Per Capita
$350320326355331299
Group Weighted Average Revenues Per Capita482434434459448428
State Weighted Average Revenues Per Capita404384353365367356








% to Total Operating Revenues






Operating Expenses
96.50%106.02%106.80%96.89%101.40%100.10%
Group Weighted Average
92.79%95.98%96.23%91.63%92.26%96.27%
State Weighted Average
82.59%85.08%89.86%86.70%82.47%81.57%








Operating Margin
3.50%-6.02%-6.80%3.11%-1.40%-0.10%
Group Weighted Average
7.21%4.02%3.77%8.37%7.74%3.73%
State Weighted Average
17.41%14.92%10.14%13.30%17.53%18.43%








Operating Transfers In
0.00%0.00%0.00%0.41%0.00%0.00%
Group Weighted Average
2.06%3.18%0.73%0.56%1.26%1.85%
State Weighted Average
0.85%1.71%1.26%1.45%1.20%1.83%








Operating Transfers Out
1.74%0.61%4.81%0.41%4.62%1.80%
Group Weighted Average
3.87%4.71%7.68%9.56%6.31%7.68%
State Weighted Average
1.89%1.79%2.55%3.08%1.94%2.63%








Net Income before capital contributions
-1.52%-9.46%-14.83%-0.07%-8.59%-4.42%
Group Weighted Average
2.46%1.12%-7.09%0.66%3.60%-2.97%
State Weighted Average
8.52%7.13%-10.44%7.19%11.65%9.59%








Key Ratios and Cash Flow














Quick Ratio
0.330.270.310.280.370.67
Group Weighted Average
3.292.783.012.562.642.16
State Weighted Average
3.483.202.812.962.902.82








Days Sales in Receivables
34.033.634.633.035.635.9
Group Weighted Average
52.148.845.948.250.155.5
State Weighted Average
54.458.958.655.260.057.8








Days Cash on Hand
0.00.20.10.00.00.0
Group Weighted Average
271.1255.6220.5217.5213.5174.3
State Weighted Average
505.4465.8424.9457.2497.5457.2








Cash flow from Operations
$684,251360,122362,639480,366416,877357,007








Debt to Equity
0.130.160.170.190.220.23
Group Weighted Average
0.170.190.140.150.140.16
State Weighted Average
0.600.600.570.560.560.52








Debt per Capita
261313341400459478
Group Weighted Average
445478340360337367
State Weighted Average
1,2821,2531,1291,1391,101988








Capital Expenditures:
201120102009200820072006


$70,089243,582141,830772,584247,354327,234










2005200420032002



$1,080,567363,182275,097167,065









Capital Contributions: Excluded from income above
$197,48825,637241,100440,00000
















Operating Statistics














Estimated population of the areas served Water00000NA
Estimated population of the areas served Sewer00000NA








Number of Gallons of Water Processed (000) omitted0036500NA
Number of Gallons of Sewage Processed (000) omitted0036500NA








Number of Gallons of Water Billed (000) omitted0016400NA
Number of Gallons of Sewage Billed (000) omitted0015300NA








Ratio of Water Billed to Water Processed

0.44932

NA
Ratio of Sewage Billed to Sewage Processed

0.41918

NA








Total Revenue from Water Sales001,394,76000NA
Total Revenue from Sewage Sales001,184,72200NA








Water Revenue per 1000 gallons of Sales





NA
Sewage Revenue per 1000 gallons of Sales





NA








Group Average Sales per thousand Gallons Water$0.00943$63.97030$5.52170$24,036.64247$36.77508NA
Group Average Sales per thousand Gallons Sewage$0.00789$67.01963$5.56525$23,235.35221$57.41311NA








State Average Sales per thousand Gallons Water$0.00013$39.04205$39.12016$9.21753$4,470.42307NA
State Average Sales per thousand Gallons Sewage$0.00015$32.79990$40.21027$25.29767$2,448.46180NA








Residential Water Sales per thousand Gallons

9,910.60504

NA
Residential Sewage Sales per thousand Gallons

9,109.45872

NA








Water Sales per thousand Gallons outside Municipal Limits




NA
Sewage Sales per thousand Gallons outside Municipal Limits




NA








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




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Key Ratios of Electric Systems for The




City of Cherryville













201120102009200820072006








Population
5,7685,7955,7675,6805,6205,563
Power Agency Group
N.C. Municipal Power Agency Number 1
Total Operating Revenues
$5,756,2345,055,1914,777,9254,931,0464,523,6314,459,341
Group Weighted Average
24,946,15623,064,70722,030,75722,254,71621,085,16320,184,548








% to Total Operating Revenues






Power Purchases
75.0%76.1%78.2%73.7%71.0%77.8%
Group Weighted Average
79.2%79.8%80.1%78.3%79.0%81.9%








Other Operating Expenses
21.5%21.6%23.1%21.6%23.9%21.8%
Group Weighted Average
15.7%16.2%18.2%17.1%17.6%17.5%








Operating Margin
3.5%2.3%-1.2%4.7%5.1%0.4%
Group Weighted Average
5.1%4.0%1.7%4.6%3.4%0.6%








Operating Transfers In
0.0%0.0%0.0%0.0%0.0%0.0%
Group Weighted Average
0.6%0.1%0.2%0.2%1.7%0.3%








Operating Transfers Out
3.3%1.5%5.4%4.9%4.5%1.6%
Group Weighted Average Out
2.2%2.3%3.0%2.7%2.4%2.4%








Net Income
-0.2%0.7%-6.8%-0.6%2.0%-0.7%
Group Weighted Average
3.4%1.8%-1.2%3.5%4.9%-0.2%








Key Ratios and Cash Flow














Quick Ratio
18.23.21.73.74.35.5
Group Weighted Average
4.23.73.93.84.14.0








Coverage Ratio
1.071.051.011.081.041.03
Group Weighted Average
1.061.051.021.081.071.02








Days Sales in Receivables
29.432.830.536.133.934.0
Group Weighted Average
37.839.636.436.836.333.2








Days Cash on Hand
4.82.84.71.733.140.3
Group Weighted Average
122.0112.3109.5118.3114.5127.6








Cash flow from Operations
$272,953178,573179,329308,754343,42475,971








Capital Expenditures:
$70,089243,582141,830772,584247,354327,234


















201120102009200820072006
Capital Contributions: Excluded from Income Above
$42,49300000








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


4.72%2.07%6.71%5.01%0.00%0.83%










200520042003200220012000


0.40%0.43%0.29%0.38%0.33%0.39%








Gross Electric Fund Assets as Cost
$3,811,4583,764,6923,752,1293,633,0323,699,0124,135,013
Estimated Tax Loss from Municipal Ownership of Utility
$17,533$16,56516,50915,98516,27618,194
Tax Rate Equivalent
0.00490.00460.00460.00460.00500.0057








Operating Transfers to the General Fund as a % of Gross Fixed Assets
5.01%2.07%6.93%6.62%0.00%0.74%








Operating Transfers to the General Fund as a Tax Rate Equivalent
0.05350.02160.07250.06940.00000.0095








Tax Rate Adjusted for Assessed to Sales Ratio
0.47480.43270.41040.42620.40850.4281








Tax Rate Adjusted Excluding Transfers
0.52840.45430.48290.49560.40850.4376








Weighted Average Group Rate Adjusted
0.38410.35840.34250.33230.36330.3719








Weighted Average Non Electric Adjusted Rate
0.28380.26240.24860.24270.26020.2921




Financial Graphs and Comparisons


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

20072008200920102011
Unit's FBA %6.06%4.97%6.90%4.76%12.07%
Group average FBA %37.68%39.94%41.32%47.34%48.56%
State average Electric/Non Electric Group FBA %33.92%35.32%34.32%33.60%34.72%
State average FBA %36.54%36.34%37.68%37.47%39.53%






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

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Analysis of Property Tax

20072008200920102011
Municipality94.19%94.70%95.27%95.73%95.91%
Pop. Group96.00%95.99%95.82%96.18%95.79%
Statewide97.58%97.56%97.34%97.35%97.42%






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






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Analysis of General Obligation Debt

20072008200920102011
Municipality1691341006839
Pop. Group9371698979
Statewide478456455449450






Municipal Population Group: 5,000 to 9,999






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Analysis of Revenue

20072008200920102011
Property Tax$251273277277286
Utility1,1361,2231,1541,1931,345
Sales Tax128144826361
Sales & Services100120125121135
Intergovernmental98243219172196
Debt Proceeds9035633390
Other Miscellaneous100194801534
Total$1,9032,5531,9701,8802,057

Go to top of page
Analysis of Revenue for Fiscal 2011











2011
2011
CategoryRevenue
Per Capita
Property Tax$1,647,407
$286
Water/Sewer1,999,478
347
Electric5,756,234
998
Other Utilities0
0
Sales Tax354,792
61
Sales & Services779,805
135
Intergovernment1,128,772
196
Debt Proceeds0
0
Miscellaneous195,832
34
Total$11,862,320
$2,057





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





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Analysis of Expenditures by Function for Fiscal 2011











2011
2011
CategoryExpenditures
Per Capita
General Government$531,571
$92
Water/Sewer1,549,302
269
Electric5,458,971
946
Other Utilities0
0
Debt Service747,859
130
Transportation417,453
72
Public Safety2,085,984
362
Other743,076
129
Total$11,534,216
$2,000





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





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Analysis of Expenditures by Object for Fiscal 2011






2011
2011
CategoryExpenditures
Per Capita
Salaries & Wages$4,114,563
$713
Water/Sewer Capital70,089
12
Electric Capital100,989
18
Other Capital246,789
43
Other Operating7,001,786
1,215
Total$11,534,216
$2,000





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






Last Updated 6/15/2012 11:09:55 AM