North Carolina
Department of State Treasurer
Financial Information
Town of Faith



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

Institute of Government North Carolina Cities Web Site

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$259,082 $267,031 $256,781 $253,607 $217,781 $199,833


Utility 332,502 347,642 328,875 341,916 345,343 336,746


Sales Tax 116,075 113,457 118,823 120,406 118,572 113,846


Sales & Services 14,175 14,254 14,252 14,007 13,609 13,485


Intergovernmental 113,101 103,595 117,878 106,492 139,348 194,113


Debt Proceeds - - - - - -


Other Miscellaneous 33,554 35,590 50,850 38,794 43,196 40,656


Total$868,489 881,569 887,459 875,222 877,849 898,679










Expenditures by Function







Utility$209,914 243,068 282,267 238,170 281,698 407,408


Debt Service 93,578 94,528 100,641 94,285 94,093 120,177


Transportation 28,723 12,042 17,113 24,415 19,399 66,204


General Government 167,523 157,434 147,635 135,848 136,374 136,713


Public Safety 244,137 237,020 220,899 195,281 164,018 142,364


Other 69,189 72,442 72,494 72,198 68,610 62,692


Total$813,064 816,534 841,049 760,197 764,192 935,558










Expenditures by Object







Salaries & Wages$114,305 85,612 90,083 89,423 86,565 80,798


Capital Outlay 7,000 23,618 67,808 40,530 9,081 223,685


Other Operating + Debt Service 691,759 707,304 683,158 630,244 668,546 631,075


Total$813,064 816,534 841,049 760,197 764,192 935,558



















Per Capita Revenues by Source







Property Tax$321 339 327 326 308 284


Utility 412 441 419 439 488 479


Sales Tax 142 145 152 154 169 162


Sales & Services 18 18 18 18 19 19


Intergovernmental 140 131 150 137 197 276


Debt Proceeds - - - - - -


Other Miscellaneous 42 45 65 50 61 58


Total$1,075 1,119 1,131 1,124 1,242 1,278










Per Capita Expenditures by Function







Utility$260 308 360 306 398 580


Debt Service 116 120 128 121 133 171


Transportation 36 15 22 31 27 94


General Government 206 200 188 174 194 194


Public Safety 302 301 281 251 232 203


Other 86 92 92 93 97 89


Total$1,006 1,036 1,071 976 1,081 1,331










Per Capita Expenditures by Object







Salaries & Wages$141 109 115 115 122 115


Capital Outlay 9 30 86 52 13 318


Other Operating 856 897 870 809 946 898


Total$1,006 1,036 1,071 976 1,081 1,331










Population GroupNo Electric 500 to 999 No Electric 500 to 999 No Electric 500 to 999 No Electric 500 to 999 No Electric 500 to 999 No Electric 500 to 999


Number of Municipalites in Group 88 99 94 96 96 95


Average Population In Group 714 727 726 729 726 727


Town of Faith Population 808 788 785 779 707 703

Group Average Per Capita Revenues by Source







Property Tax 363 407400400335298


Utility 412 411406407350306


Sales Tax 122 134166191166155


Sales & Services 96 8391696551


Intergovernmental 293 326400304366360


Debt Proceeds 65 30105966773


Other Miscellaneous 223 162180254250188


Total 1,574 1,5531,7481,7211,5991,431










Group Average Per Capita Expenditures by Function







Utility 574 443428437404484


Debt Service 101 104110978371


Transportation 121 133122148153117


General Government 247 258309321313224


Public Safety 274 282301294250241


Other 190 281382291279292


Total 1,507 1,5011,6521,5881,4821,429










Group Average Per Capita Expenditures by Object







Salaries & Wages 406 421419406352309


Capital Outlay 319 242302298334370


Other Operating 782 838931884796750


Total 1,507 1,5011,6521,5881,4821,429


















General Fund
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201120102009200820072006

General Fund revenues$535,828 533,789 553,142 533,023 488,209 455,806

General Fund expenditures 509,572 478,938 458,141 427,742 388,401 451,058

Operating transfers in - - - 20,000 50,000 -

Operating transfers out - 18,600 25,000 20,000 50,000 11,581

Capital leases and installment purchase proceeds - - - - - -

Other items - - 5,273 - - -

Excess of revenues and other sources over (under) expenditures and other uses 26,256 36,251 75,274 105,281 99,808 (6,833)










Fund balance available (FBA):







In dollars$571,645 545,207 509,105 430,890 325,348 228,443


FBA as a % of GF Net Expenditures:







Unit's FBA %112.18109.58105.3796.2474.2149.38


Group weighted average FBA %113.42100.33103.1788.62100.61101.57


State weighted average Non-Electric Group41.0738.7037.8936.6637.3937.38


State weighted average FBA %39.5337.4737.0336.3436.5436.96

















Enterprise Funds:
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Water/Sewer













Combined financial results:







Working capital$250,483 222,235 193,372 231,865 223,120 210,271


Quick ratio2.62 2.52 2.66 3.31 3.27 2.76


Net income(146,872)(147,257)(212,172)(174,798)(162,194)(5,464)


Cashflow from operations126,507 136,432 60,108 96,079 120,041 175,314


Depreciation & Amortization Expense196,120 196,120 202,308 202,542 202,124 199,103


























Cash, Investments and Financing
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201120102009200820072006











Population at July 1st of the Previous Year808788785779707703


Population GroupNo Electric 500 to 999 No Electric 500 to 999 No Electric 500 to 999 No Electric 500 to 999 No Electric 500 to 999 No Electric 500 to 999


Cash &Investments$937,931 $873,813 $777,870 $722,840 $616,472 $504,082


Investment Earnings5,034 7,786 12,352 15,355 15,046 9,727


Tax Rate Equivalent0.00790.01200.01930.02480.02840.0202


Tax Rate Equivalent Group weighted average0.00400.00510.01850.02450.03750.0327


Tax Rate Equivalent Statewide weighted average0.03170.02470.01330.05240.09200.0573


Latest year of Revaluation 200720072007200720032003


January 1, Prior Year Assessed Valuation$63,778,160 64,773,128 64,128,376 61,821,183 52,904,822 48,090,321


Tax Rate0.41000.41000.41000.41000.41000.4100


Tax Rate Group weighted average0.21320.19220.19100.19360.23100.2737


Tax Rate State Wide0.41220.40900.42620.42380.44500.4321


Assessment -to-Sales Ratio104.6097.7696.7299.7894.9098.39


Assessment -to-Sales Ratio Group weighted average96.17101.4487.4787.7577.6788.06


Assessment -to-Sales Ratio Statewide101.4798.2790.8188.5388.4192.28


Assessed Valuation Adjusted for Assesment to Sales Ratio$60,973,384 66,257,291 66,303,118 61,957,489 55,747,968 48,877,245


EffectiveTax Rate0.42890.40080.39660.40910.38910.4034


Group weighted average Effective Tax Rate0.20500.19500.16700.16990.17940.2410


Statewide weighted average Effective Tax Rate0.41830.40200.38700.37520.39340.3987


Percent Collected97.440097.720097.040098.220097.900097.9300


Percent Collected Group weighted average89.1394.2095.5996.1696.0295.56


Percent Collected Statewide97.4297.3597.3497.5697.5897.55


Percent Collected Excluding Motor Vehicles98.0998.4097.8298.7698.7498.57


Percent Collected Excluding Motor Vehicles Group weighted average96.5196.4296.7797.3697.3697.10


Percent Collected Excluding Motor Vehicles Statewide weighted average98.2598.2398.3098.6598.5998.61


Percent Collected Motor Vehicles Only 91.3991.0890.1393.7291.6593.37


Percent Collected Motor Vehicles Only Group weighted average76.8281.8883.9683.4781.4882.58


Percent Collected Motor Vehicles Only Statewide weighted average 86.4186.3886.5586.7486.7186.80


Tax Uncollected29,772 28,404 31,860 30,140 28,396 27,151


Tax Rate Equivalent0.04670.04390.04970.04880.05370.0565


Dominant County: Rowan






Debt Information








Population Group500 to 999500 to 999500 to 999500 to 999500 to 999500 to 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$1,529,000 1,549,000 1,569,000 1,588,000 1,606,000 1,623,000


General Government GO Debt0 0 0 0 0 0


Total General Obligation Debt1,529,000 1,549,000 1,569,000 1,588,000 1,606,000 1,623,000


Per Capita$1,892 1,966 1,999 2,039 2,272 2,309


Total Per Capita for the Population Group178 193 200 215 212 223


Total Per Capita Statewide450 449 455 456 478 495


Total per Assessed Valuation Adjusted for Current Year Sales2.5077%2.3379%2.3664%2.5630%2.8808%3.3206%


Total per Assessed Valuation Adjusted for Current Year Sales- Group Average0.0954%0.0895%0.0813%0.0884%0.1085%0.1673%


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 Changes808788785779707703









1.5AFISCAL Governmental Activities Assets963,459959,641931,404914,217915,694735,803
1.5BSUMMARYGovernmental Activities Liabilities16,09211,50012,38011,573123,51013,881
3.5A
Business Type Activities Assets6,916,9967,077,0827,214,4807,430,6867,511,5587,793,714
3.5B
Business Type Activities Liabilties1,662,1581,675,3721,665,5131,669,5471,575,6211,695,583
6.5A
Fiduciary Funds Assets





6.5B
Fiduciary Funds Liabilties





10.0PART 2Current Collections of Unit -Wide Levy255,394258,859255,538249,887214,153195,360
11.0TAXCurrent Collections of Special Tax Districts





12.0REVENUESPrior Years' Levy Collections2,7626,1224093,0352,2322,942
13.0
Penalties and Interest9262,0508346851,3961,531
14.0
Collections of Taxes Previously Written Off





15.0
Animal Tax


17138
15.1
Solid Waste Disposal Tax535536363


16.0
1% Local Government Option Sales Tax41,61763,50651,26041,50640,21041,014
17.0
1/2% Local Government Option Sales Tax (40)27,24026,77628,07728,77828,60626,129
18.0
1/2% Local Government Option Sales Tax (42)20,58121,62127,86628,60628,44125,983
18.5
1/2% Local Government Option Sales Tax (44)26,6371,55411,62021,51621,31520,720
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 Licenses1,3721,2431,3061,2336,1917,781
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

29,505


30.0
Public Safety


19,67520,00020,000
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 Harmless





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 Distribution339328



44.0
Utility Franchise Tax43,87443,56942,63242,83841,76532,044
45.0
Beer and Wine Tax4,2833,6183,9343,4023,3643,105
46.0
Powell Bill24,77724,61127,69927,96623,47125,555
50.0
Court Fees - Facilities and Arrest Fees





51.0
General Government





52.0
Public Safety39,82831,46914,10812,6116,6997,415
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



44,049105,994
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 Government





63.0REVENUESPublic Safety





64.0
Transportation - Streets





65.0
Transportation - All Other





66.0
Environmental Protection





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





71.0PERMITS Building Permits





72.0& FEESInspection Fees





72.1
Amusements licensing and permit taxes725950750


73.0
Other Permits


8751,5501,600
74.0SALES &Parking Revenues





75.0SERVICESRents and Royalties





76.0
Airport





77.0
Fire Protection Charges





78.0
Solid Waste14,17514,25414,25214,00713,60913,485
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 Charges332,502347,642328,875341,916345,343336,746
87.0REVENUESElectric Charges





88.0
Gas Charges





88.1
Storm Water Fees





89.0MISC.Investment Earnings - Bond Proceeds





90.0REVENUESInvestment Earnings - All Other Funds5,0347,78612,35215,35515,0469,727
91.0
Special Assessments





92.0
Private Contributions and Donations





93.0
Sales of Materials and Fixed Assets





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 Revenues25,88825,07530,80621,31420,39621,540
99.0
Proceeds of Sale of Bonds and Notes





100.0
Proceeds of Capital Leases/Install Purchases





101.0
Other

5,273


102.0NON-REVSchool - Current Levy Collections





103.0RECEIPTSPrior Years' Levy Collections





104.0
Tax Collections for Other Units





105.0
Utilities Customer's Deposits-620152,6751,7903,5359,710
106.0
Deposits Other than Utility





107.0
Prepaid Taxes





108.0
Prepaid Privilege Licenses





109APART 4Governing Body - Salaries & Wages6,6006,6006,6006,6006,6006,600
109BGENERALGoverning Body - Other Direct2,5302,5122,5232,4952,3112,228
109CGOVTGoverning Body - Construction





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





110A
Administration - Salaries & Wages68,62365,42465,42463,03560,40357,556
110B
Administration - Other Direct67,73165,55057,83046,07552,95752,919
110C
Administration - Construction





110D
Administration - Purchase of P,P&E7,000




111A
Elections - Salaries & Wages





111B
Elections - Other Direct
1,610
787

111C
Elections - Construction





111D
Elections - Purchase of P,P&E





112A
Finance - Salaries & Wages





112B
Finance - Other Direct11,95011,57511,5759,3008,3006,300
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 Direct2,5533,1861,2078402,2266,851
114C
Legal - Construction





114D
Legal - Purchase of P,P&E





115A
Public Buildings - Salaries & Wages





115B
Public Buildings - Other Direct5363746561,7171,058548
115C
Public Buildings - Construction





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
6031,8204,9992,5193,711
118C
Gen. Govt. All Other - Construction





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





119APUBLICPolice & Comm - Traffic Control - Salaries and Wages





119BSAFETYPolice & Comm - Traffic Control - Other Direct108,407106,50090,40090,40069,58551,675
119C
Police & Comm - Traffic Control - Construction





119D
Police & Comm - Traffic Control - Purchase of P,P&E





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 & Wages33,08213,588



122B
Fire - Other Direct102,64893,31471,31964,35194,43390,689
122C
Fire - Construction





122D
Fire - Purchase of P,P&E
23,61859,18040,530

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 & Wages





128B
Streets and Highways - Other Direct12,19711,46212,39211,16111,45610,185
128C
Streets and Highways - Construction





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





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 Direct16,5265804,72113,2547,94356,019
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 Direct41,78442,60242,51241,50538,29335,711
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

18,05919,78819,56216,642
140B& PHYSICALPlanning & Zoning - Other Direct15,03818,362



140CDEVELOPPlanning & Zoning - Construction





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





141A
Economic Development - Salaries & Wages





141B
Economic Development - Other Direct880880880880880880
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 Direct5,8975,3675,0005,0005,0005,000
153C
Recreation & Parks - Construction





153D
Recreation & Parks - Purchase of P,P&E





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

895435442257
157C
Cult. & Recr. All Other - Construction





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





158AUTILITYWater & Sewer - Salaries & Wages6,000




158B
Water & Sewer - Other Direct 203,914243,068273,639238,170272,617183,723
158C
Water & Sewer - Construction



9,081223,685
158D
Water & Sewer - Purchase of P,P&E

8,628


159A
Electric Power - Salaries & Wages





159B
Electric Power - Other Direct





159C
Electric Power - Construction





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





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 & Fees73,57874,52881,64176,28577,09377,092
161DSERVICEWater & Sewer - Principal20,00020,00019,00018,00017,000
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 & Fees




2,032
166D
All Other - Principal




41,053
167BPENSIONDirect Benefit Program - Other Direct





168BFRINGEFringe Benefits Unallocated





169B
Separation Allowance - Law Enforcement





170B
Separation Allowance - Other Employees





171B
Supplemental Retirement - Law Enforcement





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 #113113113113113113
174C
Gen Gov Activities Shared W/ Cnty - Amount5,5905,2315,1484,5904,4334,202
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 vehicles236,859.240,350.00236,625.00227,092.00192,771.00174,831.00
180.0
Current year's levy -- Motor vehicles (only)25,240.24,551.0026,704.0027,325.0025,974.0024,657.00
181.0PART 6Uncollected Taxes - Current Year's Levy Except Mot Veh4,532.3,853.005,156.002,815.002,422.002,494.00
182.0OTHERUncollected Taxes - CY Levy -Motor Vehicles2,1732,1892,6351,7152,1701,634
183.0DATAPercentage of Taxes Collected - All Property %97.4497.7297.0498.2297.9097.93
184.0DATAPercentage of Taxes Collected - Exclude Motor Vehicles%98.0998.4097.8298.7698.7498.57
185.0
Percentage of Taxes Collected - Motor Vehicles %91.3991.0890.1393.7291.6593.37
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 Other937,931873,813777,870722,840616,472504,082
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 Revenues868,489900,169887,459875,222877,849910,260
194BFISCALAmount - Subtract Refunding Bond Proceeds





194CSUMMARYAmount - Subtract Interfund Transfers In
18,600


11,581
194D
Amount - Net Revenues868,489881,569887,459875,222877,849898,679


Calculated amount868,489881,569887,459875,222877,849898,679


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference





195A
Amount - Total Expenditures813,064835,134841,049760,197764,192947,139
195B
Amount - Subtract Pymts. to Refunded Debt Agent





195C
Amount - Subtract Interfund Transfers Out
18,600


11,581
195D
Amount - Net Expenditures813,064816,534841,049760,197764,192935,558


Calculated amount813,064816,534841,049760,197764,192935,558


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference














401APart 10Number of residential accounts billed Water



1,275
401BWater /Number of residential accounts billed Sewer



1,225
402ASewer Amount processed and/or purchased in units Water2929326,35727,466
402BOperationsAmount processed and/or purchased in units Sewer2124220,89521,166
403A
Total amount billed in units - Water2626325,81124,697
403B
Total amount billed in units - Sewer2121221,72321,166
404A
Of the total in 403A above how many units were Residential W2422222,73021,774
404B
Of the total in 403B above how many units were Residential S1818219,43419,483
405A
Of the total in 403 above, how many units were Outside Muni W



4,473
405B
Of the total in 403 above, how many units were Outside Muni S



3,868
406A
Of the total in 405A above how many units were Residential W



4,376
406B
Of the total in 405B above how many units were Residential S



3,770
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 above89,75998,66388,70788,95186,263
408B
Dollars related to 403B above231,373247,386226,778232,581230,650
409A
Dollars related to 404A above84,80087,24481,84382,35279,860
409B
Dollars related to 404B above198,067212,427205,007211,495207,868
410A
Dollars related to 405A above



30,257
410B
Dollars related to 405B above



38,009
411A
Dollars related to 406A above



29,706
411B
Dollars related to 406B above



36,632
412A
Dollars related to 407A above





412B
Dollars related to 407B above





421A
Number of residential accounts billed - Water439438444432

421B
Number of residential accounts billed - Sewer390415415414

422A
Number of non-residential & bulk accounts billed - Water33333431

422B
Number of non-residential & bulk accounts billed - Sewer29262410

423A
Estimated percentage of accounts outside of municipal limits
































950.0
OfficialKaren Fink

951.0
TitleTown Clerk

952.0
Date10/21/201110/28/201011/03/200910/31/200811/13/200711/30/2006
953.0
ContactKaren Fink

954.0
TitleTown Clerk

955.0
Phone704-279-7500




956.0
Fax704-279-0408




957.0
E-Mail:


















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Key Ratios and Operations Statistics of Water and Sewer Systems for



Town of Faith













201120102009200820072006








Population
808788785779707703
Population Group
No Electric 500 to 999 No Electric 500 to 999 No Electric 500 to 999 No Electric 500 to 999 No Electric 500 to 999 No Electric 500 to 999
Total Operating Revenues
$332,502347,642328,875341,916345,343336,746
Total Operating Revenues Per Capita
$412441419439488479
Group Weighted Average Revenues Per Capita545516493499500409
State Weighted Average Revenues Per Capita404384353365367356








% to Total Operating Revenues






Operating Expenses
122.11%126.33%147.34%128.89%125.46%113.68%
Group Weighted Average
104.59%112.05%114.37%112.83%101.58%107.63%
State Weighted Average
82.59%85.08%89.86%86.70%82.47%81.57%








Operating Margin
-22.11%-26.33%-47.34%-28.89%-25.46%-13.68%
Group Weighted Average
-4.59%-12.05%-14.37%-12.83%-1.58%-7.63%
State Weighted Average
17.41%14.92%10.14%13.30%17.53%18.43%








Operating Transfers In
0.00%5.35%7.60%5.85%14.48%20.77%
Group Weighted Average
2.83%7.08%6.40%4.60%6.19%6.31%
State Weighted Average
0.85%1.71%1.26%1.45%1.20%1.83%








Operating Transfers Out
0.00%0.00%0.00%5.85%14.48%17.33%
Group Weighted Average
1.63%1.71%1.34%3.82%3.69%4.76%
State Weighted Average
1.89%1.79%2.55%3.08%1.94%2.63%








Net Income before capital contributions
-44.17%-42.36%-64.51%-51.12%-46.97%-33.10%
Group Weighted Average
2.16%-3.28%-5.73%-13.81%1.28%-1.87%
State Weighted Average
8.52%7.13%-10.44%7.19%11.65%9.59%








Key Ratios and Cash Flow














Quick Ratio
2.622.522.663.313.272.76
Group Weighted Average
3.643.493.292.992.813.48
State Weighted Average
3.483.202.812.962.902.82








Days Sales in Receivables
61.656.861.458.949.144.2
Group Weighted Average
77.370.269.862.264.969.8
State Weighted Average
54.458.958.655.260.057.8








Days Cash on Hand
416.0310.0188.4260.1264.7300.1
Group Weighted Average
434.0392.0405.4372.3386.8391.1
State Weighted Average
505.4465.8424.9457.2497.5457.2








Cash flow from Operations
$126,507136,43260,10896,079120,041175,314








Debt to Equity
0.290.290.280.280.270.27
Group Weighted Average
0.110.130.140.150.160.17
State Weighted Average
0.600.600.570.560.560.52








Debt per Capita
1,8921,9661,9992,0392,2722,309
Group Weighted Average
553600641621654612
State Weighted Average
1,2821,2531,1291,1391,101988








Capital Expenditures:
201120102009200820072006


$008,62809,081223,685










2005200420032002



$586,7004,195,1111,983,513123,873









Capital Contributions: Excluded from income above
$00000105,994
















Operating Statistics














Estimated population of the areas served Water00001,275NA
Estimated population of the areas served Sewer00001,225NA








Number of Gallons of Water Processed (000) omitted2929326,35727,466NA
Number of Gallons of Sewage Processed (000) omitted2124220,89521,166NA








Number of Gallons of Water Billed (000) omitted2626325,81124,697NA
Number of Gallons of Sewage Billed (000) omitted2121221,72321,166NA








Ratio of Water Billed to Water Processed0.906850.917310.915750.979280.89918NA
Ratio of Sewage Billed to Sewage Processed1.000000.861880.827311.039631.00000NA








Total Revenue from Water Sales89,75998,66388,70788,95186,263NA
Total Revenue from Sewage Sales231,373247,386226,778232,581230,650NA








Water Revenue per 1000 gallons of Sales




67.65725NA
Sewage Revenue per 1000 gallons of Sales




188.28571NA








Group Average Sales per thousand Gallons Water$0.00336$24.76610$28.47236$12,972.02948$5,350.70834NA
Group Average Sales per thousand Gallons Sewage$0.00971$42.19716$44.32771$10,951.56798$3,952.35744NA








State Average Sales per thousand Gallons Water$0.00336$24.76610$28.47236$12,972.02948$5,350.70834NA
State Average Sales per thousand Gallons Sewage$0.00971$42.19716$44.32771$10,951.56798$3,952.35744NA








Residential Water Sales per thousand Gallons$3,481.097293,921.0786536,866.216223.623053.66768NA
Residential Sewage Sales per thousand Gallons$10,997.6379811,894.00896110,218.8172010.8827310.66920NA








Water Sales per thousand Gallons outside Municipal Limits



6.76436NA
Sewage Sales per thousand Gallons outside Municipal Limits



9.82653NA








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




Financial Graphs and Comparisons


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Analysis of Available Fund Balance:  General Fund

20072008200920102011
Unit's FBA %74.21%96.24%105.37%109.58%112.18%
Group average FBA %100.61%88.62%103.17%100.33%113.42%
State average Electric/Non Electric Group FBA %37.39%36.66%37.89%38.70%41.07%
State average FBA %36.54%36.34%100.61%37.47%39.53%






Municipal Population Group: No Electric 500 to 999

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Analysis of Property Tax

20072008200920102011
Municipality97.90%98.22%97.04%97.72%97.44%
Pop. Group96.02%96.16%95.59%94.20%89.13%
Statewide97.58%97.56%97.34%97.35%97.42%






Municipal Population Group: No Electric 500 to 999






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Analysis of General Obligation Debt

20072008200920102011
Municipality2,2722,0391,9991,9661,892
Pop. Group212215200193178
Statewide478456455449450






Municipal Population Group: 500 to 999






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Analysis of Revenue

20072008200920102011
Property Tax$308326327339321
Utility488439419441412
Sales Tax169154152145142
Sales & Services1918181818
Intergovernmental197137150131140
Debt Proceeds00000
Other Miscellaneous6150654542
Total$1,2421,1241,1311,1191,075

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Analysis of Revenue for Fiscal 2011











2011
2011
CategoryRevenue
Per Capita
Property Tax$259,082
$321
Water/Sewer332,502
412
Electric0
0
Other Utilities0
0
Sales Tax116,075
142
Sales & Services14,175
18
Intergovernment113,101
140
Debt Proceeds0
0
Miscellaneous33,554
42
Total$868,489
$1,075





Municipal Population Group: No Electric 500 to 999





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Analysis of Expenditures by Function for Fiscal 2011











2011
2011
CategoryExpenditures
Per Capita
General Government$167,523
$206
Water/Sewer209,914
260
Electric0
0
Other Utilities0
0
Debt Service93,578
116
Transportation28,723
36
Public Safety244,137
302
Other69,189
86
Total$813,064
$1,006





Municipal Population Group: No Electric 500 to 999





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Analysis of Expenditures by Object for Fiscal 2011






2011
2011
CategoryExpenditures
Per Capita
Salaries & Wages$114,305
$141
Water/Sewer Capital0
0
Electric Capital0
0
Capital Outlay7,000
9
Other Operating691,759
856
Total$813,064
$1,006





Municipal Population Group: No Electric 500 to 999






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