North Carolina
Department of State Treasurer
Financial Information
Town of Drexel



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$334,290 $327,783 $324,408 $323,019 $321,309 $300,156


Utility 2,575,509 2,468,562 2,299,933 2,424,636 2,317,955 2,369,534


Sales Tax 236,215 240,463 323,007 360,132 344,631 324,551


Sales & Services 70,608 68,000 68,500 64,250 63,634 63,449


Intergovernmental 397,125 261,688 185,130 192,796 171,380 283,184


Debt Proceeds - - - - - -


Other Miscellaneous 70,364 74,091 104,872 267,114 265,654 201,661


Total$3,684,111 3,440,587 3,305,850 3,631,947 3,484,563 3,542,535










Expenditures by Function







Utility$2,723,397 2,536,388 2,440,850 2,456,405 2,301,178 2,617,982


Debt Service 63,620 27,312 36,699 36,499 12,850 12,850


Transportation 249,395 208,295 181,607 203,274 213,906 223,622


General Government 187,179 141,599 113,027 97,947 82,788 107,776


Public Safety 733,628 396,258 434,128 388,248 411,984 436,038


Other 195,060 179,026 205,723 139,807 156,016 162,976


Total$4,152,279 3,488,878 3,412,034 3,322,180 3,178,722 3,561,244










Expenditures by Object







Salaries & Wages$994,410 934,324 962,414 896,775 806,285 784,459


Capital Outlay 423,602 46,099 85,969 30,139 73,497 150,505


Other Operating + Debt Service 2,734,267 2,508,455 2,363,651 2,395,266 2,298,940 2,626,280


Total$4,152,279 3,488,878 3,412,034 3,322,180 3,178,722 3,561,244



















Per Capita Revenues by Source







Property Tax$180 171 169 169 168 157


Utility 1,385 1,286 1,196 1,265 1,209 1,243


Sales Tax 126 125 167 188 179 171


Sales & Services 38 35 36 34 33 33


Intergovernmental 214 136 96 101 89 148


Debt Proceeds - - - - - -


Other Miscellaneous 38 39 55 139 139 106


Total$1,981 1,792 1,719 1,896 1,817 1,858










Per Capita Expenditures by Function







Utility$1,464 1,321 1,269 1,282 1,200 1,373


Debt Service 34 14 19 19 7 7


Transportation 134 108 94 106 112 117


General Government 101 75 59 51 42 56


Public Safety 394 206 226 203 215 229


Other 105 93 107 73 81 85


Total$2,232 1,817 1,774 1,734 1,657 1,867










Per Capita Expenditures by Object







Salaries & Wages$535 487 500 468 420 411


Capital Outlay 228 24 45 16 38 79


Other Operating 1,469 1,306 1,229 1,250 1,199 1,377


Total$2,232 1,817 1,774 1,734 1,657 1,867










Population GroupElectric 1,000 to 2,499 Electric 1,000 to 2,499 Electric 1,000 to 2,499 Electric 1,000 to 2,499 Electric 1,000 to 2,499 Electric 1,000 to 2,499


Number of Municipalites in Group 9 8 8 8 9 9


Average Population In Group 1,670 1,841 1,850 1,854 1,906 1,915


Town of Drexel Population 1,860 1,920 1,923 1,916 1,918 1,907

Group Average Per Capita Revenues by Source







Property Tax 223 220220207186178


Utility 2,107 2,1451,9681,8551,8161,731


Sales Tax 131 110134155143131


Sales & Services 98 901049311186


Intergovernmental 305 201263304253337


Debt Proceeds 1 277443144


Other Miscellaneous 35 50126127153130


Total 2,900 2,8432,8892,7842,6632,637










Group Average Per Capita Expenditures by Function







Utility 1,877 1,9731,8851,8001,6861,748


Debt Service 154 128108968688


Transportation 109 8112083130122


General Government 175 136220157120111


Public Safety 393 325324330312310


Other 109 214271242217193


Total 2,817 2,8572,9282,7082,5512,572










Group Average Per Capita Expenditures by Object







Salaries & Wages 641 688617635564532


Capital Outlay 265 109209205130202


Other Operating 1,911 2,0602,1021,8681,8571,838


Total 2,817 2,8572,9282,7082,5512,572


















General Fund
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201120102009200820072006

General Fund revenues$1,090,201 928,660 954,962 1,018,301 972,305 1,049,453

General Fund expenditures 1,404,632 928,390 947,334 842,125 877,544 943,262

Operating transfers in 34,347 - - 6,500 7,000 7,000

Operating transfers out - - 36,000 36,000 - 7,000

Capital leases and installment purchase proceeds 333,913 - - - - -

Other items - - - - - -

Excess of revenues and other sources over (under) expenditures and other uses 53,829 270 (28,372) 146,676 101,761 106,191










Fund balance available (FBA):







In dollars$1,824,946 1,754,313 1,769,660 1,789,810 1,646,894 1,527,359


FBA as a % of GF Net Expenditures:







Unit's FBA %170.44188.96179.97203.82187.67160.73


Group weighted average FBA %66.9965.1082.0083.1480.8969.73


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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Electric, Water/Sewer













Combined financial results:







Working capital$3,262,936 3,336,900 3,438,385 3,522,791 3,347,001 3,125,102


Quick ratio13.21 14.16 15.49 14.77 16.41 14.59


Net income(247,669)(120,231)(207,922)199,763 138,833 66,371


Cashflow from operations(130,160)(59,485)(97,875)77,658 63,547 101,364


Depreciation & Amortization Expense129,477 130,907 134,174 137,929 140,453 123,851


























Cash, Investments and Financing
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201120102009200820072006











Population at July 1st of the Previous Year1,8601,9201,9231,9161,9181,907


Population GroupElectric 1,000 to 2,499 Electric 1,000 to 2,499 Electric 1,000 to 2,499 Electric 1,000 to 2,499 Electric 1,000 to 2,499 Electric 1,000 to 2,499


Cash &Investments$5,003,993 $5,102,639 $5,189,465 $5,243,735 $4,971,101 $4,671,493


Investment Earnings0 51,087 76,081 196,100 220,888 124,055


Tax Rate Equivalent0.00000.04970.07350.19300.26700.1519


Tax Rate Equivalent Group weighted average0.01240.02880.07770.15220.19700.1385


Tax Rate Equivalent Statewide weighted average0.03170.02470.01330.05240.09200.0573


Latest year of Revaluation 200720072007200720012001


January 1, Prior Year Assessed Valuation$103,473,639 102,819,544 103,554,429 101,614,958 82,722,119 81,670,859


Tax Rate0.32000.32000.32000.32000.38000.3800


Tax Rate Group weighted average0.45940.48730.49490.52990.47260.4667


Tax Rate State Wide0.41220.40900.42620.42380.44500.4321


Assessment -to-Sales Ratio104.49100.0096.41100.0081.3184.50


Assessment -to-Sales Ratio Group weighted average102.1197.4584.5581.1680.8686.99


Assessment -to-Sales Ratio Statewide101.4798.2790.8188.5388.4192.28


Assessed Valuation Adjusted for Assesment to Sales Ratio$99,027,313 102,819,544 107,410,465 101,614,958 101,736,710 96,651,904


EffectiveTax Rate0.33440.32000.30850.32000.30900.3211


Group weighted average Effective Tax Rate0.46910.47480.41840.43010.38210.4060


Statewide weighted average Effective Tax Rate0.41830.40200.38700.37520.39340.3987


Percent Collected99.290098.590098.380097.630098.270098.8300


Percent Collected Group weighted average92.4791.5092.8091.9993.0993.37


Percent Collected Statewide97.4297.3597.3497.5697.5897.55


Percent Collected Excluding Motor Vehicles99.2198.4498.2198.1899.0598.69


Percent Collected Excluding Motor Vehicles Group weighted average93.4692.3794.3694.0595.1095.05


Percent Collected Excluding Motor Vehicles Statewide weighted average98.2598.2398.3098.6598.5998.61


Percent Collected Motor Vehicles Only 100.00100.00100.0093.5694.02100.00


Percent Collected Motor Vehicles Only Group weighted average84.3082.6782.3679.3480.7181.67


Percent Collected Motor Vehicles Only Statewide weighted average 86.4186.3886.5586.7486.7186.80


Tax Uncollected36,295 36,236 36,846 44,109 52,735 38,078


Tax Rate Equivalent0.03510.03520.03560.04340.06370.0466


Dominant County: Burke






Debt Information








Population Group1,000 to 2,4991,000 to 2,4991,000 to 2,4991,000 to 2,4991,000 to 2,4991,000 to 2,499


Ratings:







Fitch







Moody's







S & P
















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




Enterprise GO Debt$107,000 125,000 142,000 158,000 173,000 188,000


General Government GO Debt0 0 0 0 0 0


Total General Obligation Debt107,000 125,000 142,000 158,000 173,000 188,000


Per Capita$58 65 74 82 90 99


Total Per Capita for the Population Group236 256 265 277 294 297


Total Per Capita Statewide450 449 455 456 478 495


Total per Assessed Valuation Adjusted for Current Year Sales0.1081%0.1216%0.1322%0.1555%0.1700%0.1945%


Total per Assessed Valuation Adjusted for Current Year Sales- Group Average0.1642%0.1838%0.1750%0.1852%0.2336%0.2606%


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


Total Authorized but not Issued General Obligation Debt
















Installment Sales Purchases and Lease Obligations







--Enterprise$0 0 0 0 0 0


--General Government0 0 0 0 0 0


Total*$0 0 0 0 0 0


* 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
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LineSectionDescription201120102009200820072006

Population at July 1st of the Previous Year Adjusted for Boundry Changes1,8601,9201,9231,9161,9181,907









1.5AFISCAL Governmental Activities Assets2,727,1872,342,0242,345,8802,350,5532,251,7262,116,589
1.5BSUMMARYGovernmental Activities Liabilities339,76640,59441,91152,63664,66977,418
3.5A
Business Type Activities Assets4,794,9105,053,4845,408,5485,408,5485,190,6335,077,555
3.5B
Business Type Activities Liabilties372,347383,25240,163410,163392,011417,766
6.5A
Fiduciary Funds Assets



5,22811,346
6.5B
Fiduciary Funds Liabilties





10.0PART 2Current Collections of Unit -Wide Levy328,325320,440318,670319,799316,662297,659
11.0TAXCurrent Collections of Special Tax Districts





12.0REVENUESPrior Years' Levy Collections4,0805,6394,2182,0043,4961,721
13.0
Penalties and Interest1,8851,7041,5201,2161,151776
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 Tax103,12794,820139,634112,416106,302104,607
17.0
1/2% Local Government Option Sales Tax (40)75,93775,95969,61792,27690,05081,742
18.0
1/2% Local Government Option Sales Tax (42)49,39360,78069,19591,73689,62581,398
18.5
1/2% Local Government Option Sales Tax (44)7,7588,90444,56163,70458,65456,804
19.0
Privilege Licenses





19.2
Privilege -- All other privileges and pemits





20.0
Auto Licenses





21.0
Vehicle Tax for Public Transportation





22.0
Other Licenses





23.0
Local Occupancy Tax





24.0
Prepared Food Tax





25.0
911 Charges





26.0
Gross Short Term lease and Rental Tax





27.0FEDERALPayments In Lieu of Taxes - Federal





28.0INTERGOVEquitable Sharing of Fed. Forfeited Prop.





29.0REVENUESGeneral Government





30.0
Public Safety





31.0
Transportation - Streets





32.0
Transportation - All Other





33.0
Environmental Protection





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





35.0
Econ. & Phys. Dev. - All Other





36.0
Human Services: Health, Mental Hlt & Hosp





37.0
Human Services: All Other





38.0
Culture & Recreation





39.0STATEPayments In Lieu of Taxes - State





40.0INTERGOVUnauthorized Substance Tax





41.0REVENUESTransitional Hold Harmless80,89655,590



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 Tax115,363114,788115,383108,99259,12764,185
45.0
Beer and Wine Tax





46.0
Powell Bill56,07655,91763,13870,85563,41964,672
50.0
Court Fees - Facilities and Arrest Fees





51.0
General Government
16,915



52.0
Public Safety
10,3926,60912,9492,37789,084
53.0
Transportation - Streets





54.0
Transportation - All Other





55.0
Environmental Protection





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





57.0
Econ. & Phys. Dev. - All Other
8,086



58.0
Human Services -Health, Mental Health, Hosp





59.0
Human Services - All Other





60.0
Culture and Recreation





61.0LOCALPayments in Lieu of Taxes - Local





62.0INTERGOVGeneral Government92,689




63.0REVENUESPublic Safety12,101




64.0
Transportation - Streets





65.0
Transportation - All Other





66.0
Environmental Protection





67.0
Economic and Physical Development



46,45740,243
68.0
Human Services - Health, Mental Hlt & Hosp





69.0
Human Services - All Other





70.0
Culture and Recreation40,000



25,000
71.0PERMITS Building Permits





72.0& FEESInspection Fees





72.1
Amusements licensing and permit taxes





73.0
Other Permits2,7145663,6714,39016,36816,276
74.0SALES &Parking Revenues





75.0SERVICESRents and Royalties70,60868,00068,50064,25063,63463,449
76.0
Airport





77.0
Fire Protection Charges





78.0
Solid Waste





79.0
Ambulance and Rescue Squad Charges





80.0
Cemeteries





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 Charges433,371418,151416,991417,254428,128508,982
87.0REVENUESElectric Charges2,142,1382,050,4111,882,9422,007,3821,889,8271,860,552
88.0
Gas Charges





88.1
Storm Water Fees





89.0MISC.Investment Earnings - Bond Proceeds29,977




90.0REVENUESInvestment Earnings - All Other Funds
51,08776,081196,100220,888124,055
91.0
Special Assessments




37,358
92.0
Private Contributions and Donations





93.0
Sales of Materials and Fixed Assets2,0313,0131,584
702451
94.0
Sale of Real Property





95.0
Nongovt Contr For Streets & Traffic Signals





96.0
ABC Mixed Drink Surcharge





97.0
ABC Profit Distribution





98.0
Other Miscellaneous Revenues35,64219,13623,53666,62427,69623,521
99.0
Proceeds of Sale of Bonds and Notes





100.0
Proceeds of Capital Leases/Install Purchases





101.0
Other
289



102.0NON-REVSchool - Current Levy Collections





103.0RECEIPTSPrior Years' Levy Collections





104.0
Tax Collections for Other Units





105.0
Utilities Customer's Deposits





106.0
Deposits Other than Utility





107.0
Prepaid Taxes





108.0
Prepaid Privilege Licenses





109APART 4Governing Body - Salaries & Wages15,58415,35714,98314,61614,25913,909
109BGENERALGoverning Body - Other Direct2,4282,5212,7942,1251,8492,170
109CGOVTGoverning Body - Construction





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





110A
Administration - Salaries & Wages





110B
Administration - Other Direct48,00048,00048,00048,00036,00036,000
110C
Administration - Construction





110D
Administration - Purchase of P,P&E





111A
Elections - Salaries & Wages





111B
Elections - Other Direct
1,332
970
1,032
111C
Elections - Construction





111D
Elections - Purchase of P,P&E





112A
Finance - Salaries & Wages





112B
Finance - Other Direct





112C
Finance - Construction





112D
Finance - Purchase of P,P&E





113A
Taxes - Salaries & Wages





113B
Taxes - Other Direct





113C
Taxes - Construction





113D
Taxes - Purchase of P,P&E





114A
Legal - Salaries & Wages





114B
Legal - Other Direct3,3395,3363,6344,1392,9265,837
114C
Legal - Construction





114D
Legal - Purchase of P,P&E





115A
Public Buildings - Salaries & Wages





115B
Public Buildings - Other Direct14,41838,01243,61628,09727,75448,828
115C
Public Buildings - Construction103,41031,041



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





117B
Central Services - Other Direct





117C
Central Services - Construction





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 Wages214,949209,892203,494210,983200,878192,593
119BSAFETYPolice & Comm - Traffic Control - Other Direct109,841100,750106,962104,506109,887105,114
119C
Police & Comm - Traffic Control - Construction





119D
Police & Comm - Traffic Control - Purchase of P,P&E31,082
30,969
27,800
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 & Wages26,47322,73628,05918,60213,48410,272
122B
Fire - Other Direct54,60941,07843,98833,50032,32295,661
122C
Fire - Construction





122D
Fire - Purchase of P,P&E274,547




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





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 & Wages105,89797,79290,66683,25979,41977,662
128B
Streets and Highways - Other Direct143,498110,50390,94189,87688,790145,960
128C
Streets and Highways - Construction





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


30,13945,697
129A
Street Cleaning - Salaries & Wages





129B
Street Cleaning - Other Direct





129C
Street Cleaning - Construction





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





130A
Powell Bill - Salaries & Wages





130B
Powell Bill - Other Direct





130C
Powell Bill - Construction





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





131A
Parking Facilities - Salaries & Wages





131B
Parking Facilities - Other Direct





131C
Parking Facilities - Construction





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





132A
Mass Transit - City - Salaries & Wages





132B
Mass Transit - City - Other Direct





132C
Mass Transit - City - Construction





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





133B
Mass Transit - Private - Other Direct





134A
Airport - Salaries & Wages





134B
Airport - Other Direct





134C
Airport - Construction





134D
Airport - Purchase of P,P&E





135A
Transpor. All Other - Salaries & Wages





135B
Transpor. All Other - Other Direct





135C
Transpor. All Other - Construction





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





136AENVIRONSolid Waste - Salaries & Wages





136BMENTALSolid Waste - Other Direct65,71171,30557,68444,03142,67841,700
136CPROTECTIONSolid Waste - Construction





136D
Solid Waste - Purchase of P,P&E





137A
Drainage & Watershed - Salaries & Wages





137B
Drainage & Watershed - Other Direct





137C
Drainage & Watershed - Construction





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





138A
Cemeteries - Salaries & Wages





138B
Cemeteries - Other Direct





138C
Cemeteries - Construction





138D
Cemeteries - Purchase of P,P&E





139A
Environ. All Other - Salaries & Wages





139B
Environ. All Other - Other Direct





139C
Environ. All Other - Construction





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





140AECONOMICPlanning & Zoning - Salaries & Wages





140B& PHYSICALPlanning & Zoning - Other Direct





140CDEVELOPPlanning & Zoning - Construction





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





141A
Economic Development - Salaries & Wages





141B
Economic Development - Other Direct





141C
Economic Development - Construction





141D
Economic Development - Purchase of P,P&E





142A
Community Development - Salaries & Wages





142B
Community Development - Other Direct





142C
Community Development - Construction





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





143A
Housing & Urban Renewal - Salaries & Wages





143B
Housing & Urban Renewal - Other Direct





143C
Housing & Urban Renewal - Construction





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





144A
Special Empl Programs - Salaries & Wages





144B
Special Empl Programs - Other Direct





144C
Special Empl Programs - Construction





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





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





145B
Econ. Dev. All Other - Other Direct





145C
Econ. Dev. All Other - Construction





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





146AHUMANHealth - Salaries & Wages





146BSERVICESHealth - Other Direct





146C
Health - Construction





146D
Health - Purchase of P,P&E





147A
Mental Health - Salaries & Wages





147B
Mental Health - Other Direct





147C
Mental Health - Construction





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





148A
Social Services - Salaries & Wages





148B
Social Services - Other Direct





148C
Social Services - Construction





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





149B
Hospital-City - Other Direct





150B
Hospital-Private - Other Direct





151A
Legal Aid - Salaries & Wages





151B
Legal Aid - Other Direct





151C
Legal Aid - Construction





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





152A
Human Serv. All Other - Salaries & Wages





152B
Human Serv. All Other - Other Direct





152C
Human Serv. All Other - Construction





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





153ACULTURE Recreation & Parks - Salaries & Wages





153BRECREATIONRecreation & Parks - Other Direct102,23985,66487,19388,40999,860108,458
153C
Recreation & Parks - Construction





153D
Recreation & Parks - Purchase of P,P&E14,56315,05855,000


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 Direct12,5476,9995,8467,36713,47812,818
157C
Cult. & Recr. All Other - Construction





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





158AUTILITYWater & Sewer - Salaries & Wages161,865156,582217,120199,576129,807129,678
158B
Water & Sewer - Other Direct 353,358373,047257,212264,691362,005448,754
158C
Water & Sewer - Construction





158D
Water & Sewer - Purchase of P,P&E





159A
Electric Power - Salaries & Wages469,642431,965408,092369,739368,438360,345
159B
Electric Power - Other Direct1,738,5321,574,7941,558,4261,622,3991,440,9281,528,700
159C
Electric Power - Construction





159D
Electric Power - Purchase of P,P&E




150,505
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 & Fees6,2507,1007,8508,650

161DSERVICEWater & Sewer - Principal18,00017,00016,00015,000

162B
Electric - Interest & Fees





162D
Electric - Principal





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 & Fees6,517283938281,2481,653
166D
All Other - Principal32,8533,18412,45612,02111,60211,197
167BPENSIONDirect Benefit Program - Other Direct





168BFRINGEFringe Benefits Unallocated





169B
Separation Allowance - Law Enforcement12,27612,09611,65811,93419,09724,157
170B
Separation Allowance - Other Employees





171B
Supplemental Retirement - Law Enforcement9,8519,7068,9988,7238,5168,241
172B
Fringe Benefits Other





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





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





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





174A
Gen Gov Activities Shared W/ Cnty - Recipient





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





174C
Gen Gov Activities Shared W/ Cnty - Amount





175A
Highways (Payments to State) - Recipient





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





175C
Highways (Payments to State) - Amount





176A
Other - Intergovt. Expenditures - Recipient





176B
Other - Intergovt. Expenditures - Item #





176C
Other - Intergovt. Expenditures - Amount





177A
Other - Intergovt. Expenditures - Recipient





177B
Other - Intergovt. Expenditures - Item #





177C
Other - Intergovt. Expenditures - Amount





178A
Other - Intergovt. Expenditures - Recipient





178B
Other - Intergovt. Expenditures - Item #





178C
Other - Intergovt. Expenditures - Amount





179.0
Current year's levy -- Excluding motor vehicles300,597.297,186.00295,810.00290,401.00271,410.00269,559.00
180.0
Current year's levy -- Motor vehicles (only)33,909.31,608.0031,557.0038,820.0050,157.0034,535.00
181.0PART 6Uncollected Taxes - Current Year's Levy Except Mot Veh2,386.4,628.005,289.005,289.002,578.003,543.00
182.0OTHERUncollected Taxes - CY Levy -Motor Vehicles


2,5003,000
183.0DATAPercentage of Taxes Collected - All Property %99.2998.5998.3897.6398.2798.83
184.0DATAPercentage of Taxes Collected - Exclude Motor Vehicles%99.2198.4498.2198.1899.0598.69
185.0
Percentage of Taxes Collected - Motor Vehicles %100.00100.00100.0093.5694.02100.00
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 Other5,003,9935,102,6395,189,4655,243,7354,971,1014,671,493
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 Revenues4,052,3713,440,5873,341,8503,674,4473,491,5633,556,535
194BFISCALAmount - Subtract Refunding Bond Proceeds333,913




194CSUMMARYAmount - Subtract Interfund Transfers In34,347
36,00042,5007,00014,000
194D
Amount - Net Revenues3,684,1113,440,5873,305,8503,631,9473,484,5633,542,535


Calculated amount3,684,1113,440,5873,305,8503,631,9473,484,5633,542,535


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference





195A
Amount - Total Expenditures4,186,6263,488,8783,448,0343,364,6803,185,7223,575,244
195B
Amount - Subtract Pymts. to Refunded Debt Agent





195C
Amount - Subtract Interfund Transfers Out34,347
36,00042,5007,00014,000
195D
Amount - Net Expenditures4,152,2793,488,8783,412,0343,322,1803,178,7223,561,244


Calculated amount4,152,2793,488,8783,412,0343,322,1803,178,7223,561,244


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference














401APart 10Number of residential accounts billed Water



2,500
401BWater /Number of residential accounts billed Sewer



2,000
402ASewer Amount processed and/or purchased in units Water7575,520,00080,519,00090,51978,797
402BOperationsAmount processed and/or purchased in units Sewer6666,250,00070,425,00080,42567,534
403A
Total amount billed in units - Water6662,580,00067,314,01069,45875,045
403B
Total amount billed in units - Sewer5753,150,00057,910,00559,80469,318
404A
Of the total in 403A above how many units were Residential W5250,065,00053,851,20855,56660,036
404B
Of the total in 403B above how many units were Residential S4542,520,00046,328,00447,84351,959
405A
Of the total in 403 above, how many units were Outside Muni W



18,915
405B
Of the total in 403 above, how many units were Outside Muni S



9,910
406A
Of the total in 405A above how many units were Residential W



18,915
406B
Of the total in 405B above how many units were Residential S



9,910
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 above234,677224,231221,781221,781227,120
408B
Dollars related to 403B above203,034188,008185,954185,954191,130
409A
Dollars related to 404A above187,742179,385177,425177,425181,696
409B
Dollars related to 404B above162,427150,406148,763148,763152,904
410A
Dollars related to 405A above



97,697
410B
Dollars related to 405B above



60,463
411A
Dollars related to 406A above



97,697
411B
Dollars related to 406B above



60,463
412A
Dollars related to 407A above





412B
Dollars related to 407B above





421A
Number of residential accounts billed - Water1,0511,0821,1101,078

421B
Number of residential accounts billed - Sewer938977977942

422A
Number of non-residential & bulk accounts billed - Water32323232

422B
Number of non-residential & bulk accounts billed - Sewer32323232

423A
Estimated percentage of accounts outside of municipal limits
































950.0
OfficialMATT SETTLEMYER

951.0
TitleTOWN MANAGER

952.0
Date10/24/201110/26/201010/27/200910/28/200811/26/200710/18/2006
953.0
ContactMATT SETTLEMYER

954.0
TitleTOWN MANAGER

955.0
Phone828-437-7421




956.0
Fax828-437-4661




957.0
E-Mail:


















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Key Ratios and Operations Statistics of Water and Sewer Systems for



Town of Drexel













201120102009200820072006








Population
1,8601,9201,9231,9161,9181,907
Population Group
Electric 2,499 and Below Electric 2,499 and Below Electric 2,499 and Below Electric 2,499 and Below Electric 2,499 and Below Electric 2,499 and Below
Total Operating Revenues
$433,371418,151416,991417,254428,128508,982
Total Operating Revenues Per Capita
$233218217218223267
Group Weighted Average Revenues Per Capita503479517506451416
State Weighted Average Revenues Per Capita404384353365367356








% to Total Operating Revenues






Operating Expenses
140.54%152.64%140.07%128.29%125.65%96.86%
Group Weighted Average
111.08%115.70%114.59%112.73%117.35%109.92%
State Weighted Average
82.59%85.08%89.86%86.70%82.47%81.57%








Operating Margin
-40.54%-52.64%-40.07%-28.29%-25.65%3.14%
Group Weighted Average
-11.08%-15.70%-14.59%-12.73%-17.35%-9.92%
State Weighted Average
17.41%14.92%10.14%13.30%17.53%18.43%








Operating Transfers In
0.00%0.00%8.63%8.63%0.00%0.00%
Group Weighted Average
2.03%0.72%8.22%4.48%7.19%14.78%
State Weighted Average
0.85%1.71%1.26%1.45%1.20%1.83%








Operating Transfers Out
0.00%0.00%0.00%0.00%0.00%0.00%
Group Weighted Average
5.62%1.29%2.48%1.83%0.68%4.79%
State Weighted Average
1.89%1.79%2.55%3.08%1.94%2.63%








Net Income before capital contributions
-41.49%-50.39%-30.87%-1.76%-9.30%12.70%
Group Weighted Average
-24.19%-22.69%-12.47%-8.58%-11.35%0.88%
State Weighted Average
8.52%7.13%-10.44%7.19%11.65%9.59%








Key Ratios and Cash Flow














Quick Ratio
20.0825.8227.5534.4736.2032.70
Group Weighted Average
3.163.754.705.284.402.84
State Weighted Average
3.483.202.812.962.902.82








Days Sales in Receivables
37.542.137.338.037.335.2
Group Weighted Average
68.663.450.962.254.354.0
State Weighted Average
54.458.958.655.260.057.8








Days Cash on Hand
359.8408.5557.4653.6606.4652.4
Group Weighted Average
264.7224.6336.8395.4351.6407.8
State Weighted Average
505.4465.8424.9457.2497.5457.2








Cash flow from Operations
-$77,883-123,580-48,456-8,337712120,638








Debt to Equity
0.070.070.070.080.080.09
Group Weighted Average
0.410.390.400.300.130.13
State Weighted Average
0.600.600.570.560.560.52








Debt per Capita
586574829099
Group Weighted Average
1,3881,2651,030793505499
State Weighted Average
1,2821,2531,1291,1391,101988








Capital Expenditures:
201120102009200820072006


$000000










2005200420032002



$00012,263









Capital Contributions: Excluded from income above
$000000
















Operating Statistics














Estimated population of the areas served Water00002,500NA
Estimated population of the areas served Sewer00002,000NA








Number of Gallons of Water Processed (000) omitted7575,520,00080,519,00090,51978,797NA
Number of Gallons of Sewage Processed (000) omitted6666,250,00070,425,00080,42567,534NA








Number of Gallons of Water Billed (000) omitted6662,580,00067,314,01069,45875,045NA
Number of Gallons of Sewage Billed (000) omitted5753,150,00057,910,00559,80469,318NA








Ratio of Water Billed to Water Processed0.879260.828650.836000.767330.95238NA
Ratio of Sewage Billed to Sewage Processed0.863180.802260.822290.743601.02642NA








Total Revenue from Water Sales234,677224,231221,781221,781227,120NA
Total Revenue from Sewage Sales203,034188,008185,954185,954191,130NA








Water Revenue per 1000 gallons of Sales




90.84800NA
Sewage Revenue per 1000 gallons of Sales




95.56500NA








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








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$3,580.129670.003580.003293.193053.02645NA
Residential Sewage Sales per thousand Gallons$3,575.324680.003540.003213.109402.94278NA








Water Sales per thousand Gallons outside Municipal Limits



5.16505NA
Sewage Sales per thousand Gallons outside Municipal Limits



6.10121NA








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




Town of Drexel













201120102009200820072006








Population
1,8601,9201,9231,9161,9181,907
Power Agency Group
N.C. Municipal Power Agency Number 1
Total Operating Revenues
$2,139,6382,050,4121,882,9412,007,3821,889,8271,860,552
Group Weighted Average
24,946,15623,064,70722,030,75722,254,71621,085,16320,184,548








% to Total Operating Revenues






Power Purchases
72.9%67.4%72.9%67.6%67.3%72.5%
Group Weighted Average
79.2%79.8%80.1%78.3%79.0%81.9%








Other Operating Expenses
31.1%29.5%33.5%27.2%29.3%30.8%
Group Weighted Average
15.7%16.2%18.2%17.1%17.6%17.5%








Operating Margin
-4.0%3.1%-6.3%5.2%3.5%-3.3%
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
0.0%0.0%0.0%0.0%0.0%0.0%
Group Weighted Average Out
2.2%2.3%3.0%2.7%2.4%2.4%








Net Income
-3.2%4.4%-4.2%10.3%9.5%0.1%
Group Weighted Average
3.4%1.8%-1.2%3.5%4.9%-0.2%








Key Ratios and Cash Flow














Quick Ratio
12.412.913.812.814.312.6
Group Weighted Average
4.23.73.93.84.14.0








Coverage Ratio
0.971.080.961.171.161.02
Group Weighted Average
1.061.051.021.081.071.02








Days Sales in Receivables
34.438.134.543.732.331.4
Group Weighted Average
37.839.636.436.836.333.2








Days Cash on Hand
442.2502.9488.2514.9521.3458.5
Group Weighted Average
122.0112.3109.5118.3114.5127.6








Cash flow from Operations
-$52,27764,095-49,41985,99562,835-19,274








Capital Expenditures:
$000000


















201120102009200820072006
Capital Contributions: Excluded from Income Above
$000000








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


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










200520042003200220012000


3.05%2.97%2.79%2.84%2.43%2.21%








Gross Electric Fund Assets as Cost
$1,232,3271,232,3271,200,3371,200,3371,095,7431,095,743
Estimated Tax Loss from Municipal Ownership of Utility
$3,943$3,9433,8413,8414,1644,164
Tax Rate Equivalent
0.00380.00380.00370.00380.00500.0051








Operating Transfers to the General Fund as a % of Gross Fixed Assets
0.00%0.00%0.00%0.00%0.00%0.00%








Operating Transfers to the General Fund as a Tax Rate Equivalent
0.00000.00000.00000.00000.00000.0000








Tax Rate Adjusted for Assessed to Sales Ratio
0.33440.32000.30850.32000.30900.3211








Tax Rate Adjusted Excluding Transfers
0.33440.32000.30850.32000.30900.3211








Weighted Average Group Rate Adjusted
0.46910.47480.41840.43010.38210.4060








Weighted Average Non Electric Adjusted Rate
0.27710.29010.25890.25440.27370.2826




Financial Graphs and Comparisons


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Analysis of Available Fund Balance:  General Fund

20072008200920102011
Unit's FBA %187.67%203.82%179.97%188.96%170.44%
Group average FBA %80.89%83.14%82.00%65.10%66.99%
State average Electric/Non Electric Group FBA %33.92%35.32%34.32%33.60%34.72%
State average FBA %36.54%36.34%80.89%37.47%39.53%






Municipal Population Group: Electric 1,000 to 2,499

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Analysis of Property Tax

20072008200920102011
Municipality98.27%97.63%98.38%98.59%99.29%
Pop. Group93.09%91.99%92.80%91.50%92.47%
Statewide97.58%97.56%97.34%97.35%97.42%






Municipal Population Group: Electric 1,000 to 2,499






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Analysis of General Obligation Debt

20072008200920102011
Municipality9082746558
Pop. Group294277265256236
Statewide478456455449450






Municipal Population Group: 1,000 to 2,499






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Analysis of Revenue

20072008200920102011
Property Tax$168169169171180
Utility1,2091,2651,1961,2861,385
Sales Tax179188167125126
Sales & Services3334363538
Intergovernmental8910196136214
Debt Proceeds00000
Other Miscellaneous139139553938
Total$1,8171,8961,7191,7921,981

Go to top of page
Analysis of Revenue for Fiscal 2011











2011
2011
CategoryRevenue
Per Capita
Property Tax$334,290
$180
Water/Sewer433,371
233
Electric2,142,138
1,152
Other Utilities0
0
Sales Tax236,215
126
Sales & Services70,608
38
Intergovernment397,125
214
Debt Proceeds0
0
Miscellaneous70,364
38
Total$3,684,111
$1,981





Municipal Population Group: Electric 1,000 to 2,499





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Analysis of Expenditures by Function for Fiscal 2011











2011
2011
CategoryExpenditures
Per Capita
General Government$187,179
$101
Water/Sewer515,223
277
Electric2,208,174
1,187
Other Utilities0
0
Debt Service63,620
34
Transportation249,395
134
Public Safety733,628
394
Other195,060
105
Total$4,152,279
$2,232





Municipal Population Group: Electric 1,000 to 2,499





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Analysis of Expenditures by Object for Fiscal 2011






2011
2011
CategoryExpenditures
Per Capita
Salaries & Wages$994,410
$535
Water/Sewer Capital0
0
Electric Capital0
0
Capital Outlay423,602
228
Other Operating2,734,267
1,469
Total$4,152,279
$2,232





Municipal Population Group: Electric 1,000 to 2,499






Last Updated 6/15/2012 11:12:55 AM