North Carolina
Department of State Treasurer
Financial Information
Town of Forest City



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
Go to Rutherford County Map Page



Note: All data unless otherwise specified is for the 12 month period ending June, 30th of the designated year



Municipality Revenues and Expenditures Financial Profile
Go to top of page
201120102009200820072006

Revenues by Source







Property Tax$1,634,215 $1,703,187 $1,799,561 $1,753,987 $1,531,900 $1,535,701


Utility 16,909,531 16,032,404 16,162,110 17,089,346 15,849,089 14,888,267


Sales Tax 495,408 548,049 635,361 746,477 763,591 673,068


Sales & Services 1,336,095 1,343,435 1,351,489 1,317,125 1,269,859 1,291,526


Intergovernmental 1,943,395 1,203,457 1,345,653 872,396 2,391,064 1,391,902


Debt Proceeds - - - 2,684,800 - -


Other Miscellaneous 1,204,520 341,918 418,310 1,774,164 806,195 582,093


Total$23,523,164 21,172,450 21,712,484 26,238,295 22,611,698 20,362,557










Expenditures by Function







Utility$11,770,343 10,496,257 11,324,457 11,459,991 11,188,193 11,116,318


Debt Service 287,338 293,438 299,538 85,801 - -


Transportation 1,325,291 1,138,899 1,285,817 1,502,758 1,782,407 1,350,631


General Government 1,018,346 1,016,401 1,257,977 1,385,482 3,096,550 1,913,840


Public Safety 3,909,675 3,897,464 3,849,681 4,035,759 3,928,460 3,542,290


Other 3,735,410 2,511,707 2,586,192 7,051,804 2,687,795 2,182,429


Total$22,046,403 19,354,166 20,603,662 25,521,595 22,683,405 20,105,508










Expenditures by Object







Salaries & Wages$7,113,977 6,673,769 7,142,596 7,394,984 5,247,385 4,991,714


Capital Outlay 1,305,180 1,599,777 1,551,001 6,669,107 5,018,264 3,641,515


Other Operating + Debt Service 13,627,246 11,080,620 11,910,065 11,457,504 12,417,756 11,472,279


Total$22,046,403 19,354,166 20,603,662 25,521,595 22,683,405 20,105,508



















Per Capita Revenues by Source







Property Tax$218 239 251 245 212 211


Utility 2,255 2,248 2,257 2,389 2,192 2,044


Sales Tax 66 76 89 105 105 93


Sales & Services 178 188 189 184 176 177


Intergovernmental 259 169 188 122 331 191


Debt Proceeds - - - 375 - -


Other Miscellaneous 161 48 58 248 112 80


Total$3,137 2,968 3,032 3,668 3,128 2,796










Per Capita Expenditures by Function







Utility$1,570 1,472 1,581 1,602 1,548 1,526


Debt Service 38 41 42 12 - -


Transportation 177 160 180 210 247 185


General Government 136 142 175 193 428 264


Public Safety 521 546 538 564 543 486


Other 498 352 361 986 372 300


Total$2,940 2,713 2,877 3,567 3,138 2,761










Per Capita Expenditures by Object







Salaries & Wages$949 936 997 1,034 726 685


Capital Outlay 174 224 217 932 694 500


Other Operating 1,817 1,553 1,663 1,601 1,718 1,576


Total$2,940 2,713 2,877 3,567 3,138 2,761










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


Town of Forest City Population 7,499 7,133 7,162 7,154 7,229 7,283

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
Go to top of page
201120102009200820072006

General Fund revenues$4,791,160 4,730,908 4,965,023 4,953,580 4,788,954 4,645,994

General Fund expenditures 9,442,245 8,608,631 8,834,524 9,115,427 9,327,192 8,053,048

Operating transfers in 4,779,000 4,625,000 4,371,988 4,500,000 3,750,000 3,650,000

Operating transfers out 88,886 53,094 111,153 536,675 69,601 88,217

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

Other items 689,769 3,531 12,972 32,668 261,130 18,808

Excess of revenues and other sources over (under) expenditures and other uses 728,798 697,714 404,306 (165,854) (596,709) 173,537










Fund balance available (FBA):







In dollars$3,316,835 2,895,273 2,224,059 1,549,671 1,725,329 2,504,209


FBA as a % of GF Net Expenditures:







Unit's FBA %34.8033.4324.8616.0618.3630.76


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:
Go to top of page







Water/Sewer, Electric, Capital Projects













Combined financial results:







Working capital$10,001,197 8,802,119 7,661,397 6,779,455 5,860,253 5,025,252


Quick ratio10.70 8.33 6.31 5.65 6.31 7.66


Net income80,342 338,996 (140,020)613,020 702,014 (159,886)


Cashflow from operations6,477,870 5,506,802 5,997,497 7,078,443 6,493,287 5,536,243


Depreciation & Amortization Expense1,750,174 1,751,117 1,739,129 1,717,614 1,651,903 1,597,798


























Cash, Investments and Financing
Go to top of page
201120102009200820072006











Population at July 1st of the Previous Year7,4997,1337,1627,1547,2297,283


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$12,462,594 $10,597,915 $9,799,421 $8,656,425 $6,795,191 $7,350,870


Investment Earnings255,026 205,629 319,264 400,820 413,448 380,778


Tax Rate Equivalent0.04530.03490.05280.06750.08050.0752


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 200720072007200720022002


January 1, Prior Year Assessed Valuation$562,505,028 589,676,113 604,712,051 593,553,122 513,309,658 506,607,040


Tax Rate0.29000.29000.30000.29000.30000.3000


Tax Rate Group weighted average0.39140.37330.37810.38340.40660.4094


Tax Rate State Wide0.41220.40900.42620.42380.44500.4321


Assessment -to-Sales Ratio100.4893.2993.2493.6482.4588.61


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$559,817,902 632,089,305 648,554,323 633,867,067 622,570,841 571,726,713


EffectiveTax Rate0.29140.27050.27970.27160.24740.2658


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 Collected95.030096.500096.630097.170096.860097.6600


Percent Collected Group weighted average95.7996.1895.8295.9996.0095.42


Percent Collected Statewide97.4297.3597.3497.5697.5897.55


Percent Collected Excluding Motor Vehicles95.9897.4697.7898.3198.2198.93


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 80.0780.6479.0080.9777.3681.53


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 Uncollected161,223 139,163 148,987 142,746 125,964 126,605


Tax Rate Equivalent0.02870.02360.02460.02400.02450.0250


Dominant County: Rutherford






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's







S & P
















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




Enterprise GO Debt$0 0 0 0 0 0


General Government GO Debt0 0 0 0 0 0


Total General Obligation Debt0 0 0 0 0 0


Per Capita$0 0 0 0 0 0


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 Sales0.0000%0.0000%0.0000%0.0000%0.0000%0.0000%


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$0 0 0 0 0 0


--General Government1,944,444 2,111,111 2,277,778 2,444,444 0 0


Total*$1,944,444 2,111,111 2,277,778 2,444,444 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
Go to top of page






LineSectionDescription201120102009200820072006

Population at July 1st of the Previous Year Adjusted for Boundry Changes7,4997,1337,1627,1547,2297,283









1.5AFISCAL Governmental Activities Assets22,987,41722,865,13022,281,43722,535,07217,457,03815,997,968
1.5BSUMMARYGovernmental Activities Liabilities2,731,6282,945,9273,130,3823,780,988594,1291,009,927
3.5A
Business Type Activities Assets58,590,40958,378,67158,273,25258,434,23257,412,11656,401,468
3.5B
Business Type Activities Liabilties1,389,8051,258,4091,491,9861,512,9461,103,850795,216
6.5A
Fiduciary Funds Assets





6.5B
Fiduciary Funds Liabilties





10.0PART 2Current Collections of Unit -Wide Levy1,569,7251,645,2721,754,2301,703,3261,493,4571,494,842
11.0TAXCurrent Collections of Special Tax Districts





12.0REVENUESPrior Years' Levy Collections51,89145,61534,95239,75929,76430,982
13.0
Penalties and Interest12,59912,30010,37910,9028,6799,877
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 Tax238,553253,457248,344252,497257,829236,848
17.0
1/2% Local Government Option Sales Tax (40)141,125148,827156,686180,830185,042157,528
18.0
1/2% Local Government Option Sales Tax (42)116,355129,039155,474179,741183,936156,675
18.5
1/2% Local Government Option Sales Tax (44)-62516,72674,857133,409136,784122,017
19.0
Privilege Licenses575550
4904,680
19.2
Privilege -- All other privileges and pemits

535

20,385
20.0
Auto Licenses





21.0
Vehicle Tax for Public Transportation





22.0
Other Licenses



43,28543,897
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 Safety20,82276,681117,22834,168132,45691,200
31.0
Transportation - Streets





32.0
Transportation - All Other





33.0
Environmental Protection





34.0
Econ. & Phys. Dev. - Housing/Comm. Dev.454,753136,656



35.0
Econ. & Phys. Dev. - All Other107,411
233,421


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

1,988


40.0INTERGOVUnauthorized Substance Tax11,4606,3344,0283,1724,1986,836
41.0REVENUESTransitional Hold Harmless175,803153,82756,32920,07435,04049,994
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 Distribution38,03946,02347,60845,12152,58449,678
44.0
Utility Franchise Tax370,457345,656407,956412,846331,185282,871
45.0
Beer and Wine Tax31,43810,21532,12833,30032,90932,372
46.0
Powell Bill226,608226,268253,953287,011259,017265,851
50.0
Court Fees - Facilities and Arrest Fees3,4834,1845,9525,5354,3364,057
51.0
General Government





52.0
Public Safety18,31814,78514,3996,1595,8475,224
53.0
Transportation - Streets





54.0
Transportation - All Other





55.0
Environmental Protection4,8354,8813,329


56.0
Econ. & Phys. Dev. - Housing/Community Dev2,00512,658



57.0
Econ. & Phys. Dev. - All Other457,904109,981126,152
1,498,998201,930
58.0
Human Services -Health, Mental Health, Hosp





59.0
Human Services - All Other





60.0
Culture and Recreation2,00042,3483,500
2,0002,500
61.0LOCALPayments in Lieu of Taxes - Local14,0596,7609,107
14,1314,641
62.0INTERGOVGeneral Government





63.0REVENUESPublic Safety4,0004,00028,57525,01018,36314,000
64.0
Transportation - Streets





65.0
Transportation - All Other





66.0
Environmental Protection





67.0
Economic and Physical Development




380,748
68.0
Human Services - Health, Mental Hlt & Hosp





69.0
Human Services - All Other





70.0
Culture and Recreation
2,200



71.0PERMITS Building Permits31,78130,94630,90233,96228,72832,686
72.0& FEESInspection Fees12,7721,6874,0558102,0001,395
72.1
Amusements licensing and permit taxes





73.0
Other Permits





74.0SALES &Parking Revenues





75.0SERVICESRents and Royalties61,032102,22479,32877,56865,58073,358
76.0
Airport





77.0
Fire Protection Charges4,5364,7085,0995,5374,8584,594
78.0
Solid Waste936,241911,399931,101891,071882,858872,662
79.0
Ambulance and Rescue Squad Charges





80.0
Cemeteries5,3354,80011,85023,4008,2258,250
81.0
Recreation Service Revenues272,664263,820285,802289,099257,882282,554
82.0
Library Service Revenues



6,504
83.0
Other Cultural and Rec Service Revenues





84.0
Mass Transit - City Operated





85.0
Other Sales and Services56,28756,48438,30930,45043,95250,108
86.0UTILITYWater and Sewer Charges4,687,7084,499,0155,277,4596,838,2396,066,1905,585,728
87.0REVENUESElectric Charges12,221,82311,533,38910,884,65110,251,1079,782,8999,302,539
88.0
Gas Charges





88.1
Storm Water Fees





89.0MISC.Investment Earnings - Bond Proceeds





90.0REVENUESInvestment Earnings - All Other Funds255,026205,629319,264400,820413,448380,778
91.0
Special Assessments





92.0
Private Contributions and Donations15,345

1,235,312

93.0
Sales of Materials and Fixed Assets689,76925,774
33,31014,19437,919
94.0
Sale of Real Property



249,441
95.0
Nongovt Contr For Streets & Traffic Signals





96.0
ABC Mixed Drink Surcharge





97.0
ABC Profit Distribution122,84951,28638,57116,174

98.0
Other Miscellaneous Revenues8,47010,5049,987
8,19011,902
99.0
Proceeds of Sale of Bonds and Notes


2,684,800

100.0
Proceeds of Capital Leases/Install Purchases





101.0
Other67,93315,54214,99653,28642,22953,131
102.0NON-REVSchool - Current Levy Collections





103.0RECEIPTSPrior Years' Levy Collections





104.0
Tax Collections for Other Units





105.0
Utilities Customer's Deposits11,1309,94513,88714,07628,57754,816
106.0
Deposits Other than Utility



15,000201,138
107.0
Prepaid Taxes-1,7732,365-514-2142,137-9,805
108.0
Prepaid Privilege Licenses





109APART 4Governing Body - Salaries & Wages54,65353,36552,55759,20453,19550,717
109BGENERALGoverning Body - Other Direct33,58039,51534,52061,78736,96636,149
109CGOVTGoverning Body - Construction
20,680222,376280,7191,948,419936,142
109D
Governing Body - Purchase of P,P&E3,500
94,000


110A
Administration - Salaries & Wages330,774336,528346,900384,620295,110303,232
110B
Administration - Other Direct193,611126,600111,295165,047241,314241,203
110C
Administration - Construction





110D
Administration - Purchase of P,P&E





111A
Elections - Salaries & Wages





111B
Elections - Other Direct


2,281

111C
Elections - Construction





111D
Elections - Purchase of P,P&E





112A
Finance - Salaries & Wages194,285190,424210,261230,009141,044122,427
112B
Finance - Other Direct142,403203,878167,310167,125176,914153,838
112C
Finance - Construction





112D
Finance - Purchase of P,P&E



106,410
113A
Taxes - Salaries & Wages





113B
Taxes - Other Direct





113C
Taxes - Construction





113D
Taxes - Purchase of P,P&E





114A
Legal - Salaries & Wages48,04827,452

29,9023,641
114B
Legal - Other Direct



21,53312,664
114C
Legal - Construction





114D
Legal - Purchase of P,P&E





115A
Public Buildings - Salaries & Wages





115B
Public Buildings - Other Direct17,49217,95918,75834,69045,74353,827
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





118C
Gen. Govt. All Other - Construction





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





119APUBLICPolice & Comm - Traffic Control - Salaries and Wages1,986,4501,902,5382,065,2482,008,6761,428,9081,349,439
119BSAFETYPolice & Comm - Traffic Control - Other Direct372,593352,533336,277362,819872,776751,654
119C
Police & Comm - Traffic Control - Construction





119D
Police & Comm - Traffic Control - Purchase of P,P&E182,065165,99228,450140,990129,81994,630
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 & Wages777,036746,298758,661766,473521,270445,583
122B
Fire - Other Direct170,087147,563160,614157,139369,626279,093
122C
Fire - Construction





122D
Fire - Purchase of P,P&E339,658126,239

61,815122,744
123A
Inspectors - Salaries & Wages
251,479351,791378,389245,509239,745
123B
Inspectors - Other Direct
121,711117,544129,532209,635175,663
123C
Inspectors - Construction





123D
Inspectors - Purchase of P,P&E

14,885


124A
Rescue Units - Salaries & Wages





124B
Rescue Units - Other Direct4,0004,0004,0004,0004,0003,000
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 & Wages626,257617,909682,613683,836479,854478,716
128B
Streets and Highways - Other Direct330,261252,877309,315392,453505,517434,213
128C
Streets and Highways - Construction





128D
Streets and Highways - Purchase of P,P&E68,039100,841
114,579574,573262,096
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 & Wages17,25422,35913,80016,60516,84115,494
130B
Powell Bill - Other Direct283,480144,91366,089295,285205,622160,112
130C
Powell Bill - Construction

214,000


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 Direct999,214954,397962,266890,816867,661861,193
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

23,37738,93826,12025,859
138B
Cemeteries - Other Direct12,9636,61321,5333,83215,66313,973
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 & Wages267,299




140B& PHYSICALPlanning & Zoning - Other Direct66,955




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 Direct79,507




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
136,656



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 Direct833,815




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 & Wages773,059694,183726,257751,569532,381521,427
153BRECREATIONRecreation & Parks - Other Direct507,698508,020460,786560,628577,546515,022
153C
Recreation & Parks - Construction
91,942222,3054,665,458219,601
153D
Recreation & Parks - Purchase of P,P&E67,630
44,347
298,573106,587
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 & Wages83,81279,94387,22694,06276,80567,028
156B
Libraries - Other Direct43,45839,95338,09546,50173,44571,340
156C
Libraries - Construction





156D
Libraries - Purchase of P,P&E





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





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





157C
Cult. & Recr. All Other - Construction





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





158AUTILITYWater & Sewer - Salaries & Wages1,437,0901,298,8751,374,5291,488,0471,043,6391,018,410
158B
Water & Sewer - Other Direct 1,415,7061,264,1521,638,5651,727,3362,215,9432,083,820
158C
Water & Sewer - Construction386,404596,792



158D
Water & Sewer - Purchase of P,P&E180,218222,734484,6381,049,6231,287,0571,647,067
159A
Electric Power - Salaries & Wages517,960452,416449,376494,556356,807349,996
159B
Electric Power - Other Direct7,755,2996,523,3877,151,3496,282,6915,892,7505,544,776
159C
Electric Power - Construction

226,000


159D
Electric Power - Purchase of P,P&E77,666137,901
417,738391,997472,249
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 & Fees





161DSERVICEWater & Sewer - Principal





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 & Fees74,47180,57186,67155,555

166D
All Other - Principal212,867212,867212,86730,246

167BPENSIONDirect Benefit Program - Other Direct





168BFRINGEFringe Benefits Unallocated





169B
Separation Allowance - Law Enforcement10,18310,183
23,35122,35122,351
170B
Separation Allowance - Other Employees





171B
Supplemental Retirement - Law Enforcement67,60368,92812,21164,39062,75158,388
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 vehicles1,556,128.1,609,691.001,707,017.001,640,279.001,444,171.001,422,022.00
180.0
Current year's levy -- Motor vehicles (only)98,704.98,343.00111,031.00114,989.00100,175.00111,351.00
181.0PART 6Uncollected Taxes - Current Year's Levy Except Mot Veh62,519.40,820.0037,956.0027,757.0025,789.0015,254.00
182.0OTHERUncollected Taxes - CY Levy -Motor Vehicles19,67319,04223,31421,88022,67520,568
183.0DATAPercentage of Taxes Collected - All Property %95.0396.5096.6397.1796.8697.66
184.0DATAPercentage of Taxes Collected - Exclude Motor Vehicles%95.9897.4697.7898.3198.2198.93
185.0
Percentage of Taxes Collected - Motor Vehicles %80.0780.6479.0080.9777.3681.53
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 Other12,462,59410,597,9159,799,4218,656,4256,795,1917,350,870
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 Revenues28,893,96326,370,91925,874,47231,974,97027,431,29925,500,774
194BFISCALAmount - Subtract Refunding Bond Proceeds





194CSUMMARYAmount - Subtract Interfund Transfers In5,370,7995,198,4694,161,9885,736,6754,819,6015,138,217
194D
Amount - Net Revenues23,523,16421,172,45021,712,48426,238,29522,611,69820,362,557


Calculated amount23,523,16421,172,45021,712,48426,238,29522,611,69820,362,557


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference





195A
Amount - Total Expenditures27,417,20224,552,63524,765,65031,258,27027,503,00625,243,725
195B
Amount - Subtract Pymts. to Refunded Debt Agent





195C
Amount - Subtract Interfund Transfers Out5,370,7995,198,4694,161,9885,736,6754,819,6015,138,217
195D
Amount - Net Expenditures22,046,40319,354,16620,603,66225,521,59522,683,40520,105,508


Calculated amount22,046,40319,354,16620,603,66225,521,59522,683,40520,105,508


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
7291,010,1001,650,9001,607,300
402BOperationsAmount processed and/or purchased in units Sewer
638646,4921,056,0461,007,811
403A
Total amount billed in units - Water579623947,5831,550,2091,384,789
403B
Total amount billed in units - Sewer270265541,0391,041,139993,586
404A
Of the total in 403A above how many units were Residential W300294303,373325,397312,906
404B
Of the total in 403B above how many units were Residential S122123127,923137,758312,906
405A
Of the total in 403 above, how many units were Outside Muni W



183,992
405B
Of the total in 403 above, how many units were Outside Muni S



13,328
406A
Of the total in 405A above how many units were Residential W



155,244
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



95,999
407B
Of the total in 403B how many unit were delivered in bulk





408A
Dollars related to 403A above3,254,0573,177,1113,613,1304,000,4323,539,349
408B
Dollars related to 403B above1,282,0411,260,6131,828,9962,679,1672,392,480
409A
Dollars related to 404A above2,259,3542,222,1102,261,3482,113,5481,871,929
409B
Dollars related to 404B above179,062683,130700,061663,0371,871,929
410A
Dollars related to 405A above



1,347,869
410B
Dollars related to 405B above



53,445
411A
Dollars related to 406A above



1,193,276
411B
Dollars related to 406B above





412A
Dollars related to 407A above



228,873
412B
Dollars related to 407B above





421A
Number of residential accounts billed - Water6,2096,2056,2116,201

421B
Number of residential accounts billed - Sewer2,8032,8362,8482,840

422A
Number of non-residential & bulk accounts billed - Water885943937960

422B
Number of non-residential & bulk accounts billed - Sewer658669666683

423A
Estimated percentage of accounts outside of municipal limits

1





























950.0
OfficialSCOTT WEBBER

951.0
TitleFINANCE DIRECTOR

952.0
Date01/17/201211 03 201012/17/200912/10/200812/05/200712/04/2006
953.0
ContactDON HEATH

954.0
TitleO/S AUDITOR

955.0
Phone828-245-4841




956.0
Fax828-245-3236




957.0
E-Mail:


















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



Town of Forest City













201120102009200820072006








Population
7,4997,1337,1627,1547,2297,283
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
$4,687,7084,499,0155,277,4596,838,2396,066,1905,585,728
Total Operating Revenues Per Capita
$625631737956839767
Group Weighted Average Revenues Per Capita482434434459448428
State Weighted Average Revenues Per Capita404384353365367356








% to Total Operating Revenues






Operating Expenses
88.57%86.00%81.70%65.79%74.05%76.89%
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
11.43%14.00%18.30%34.21%25.95%23.11%
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%0.00%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
10.67%13.89%30.73%36.56%24.73%41.18%
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
2.90%1.98%-10.06%-0.25%3.41%-15.58%
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
49.7612.788.226.3410.906.11
Group Weighted Average
3.292.783.012.562.642.16
State Weighted Average
3.483.202.812.962.902.82








Days Sales in Receivables
37.940.541.656.466.059.4
Group Weighted Average
52.148.845.948.250.155.5
State Weighted Average
54.458.958.655.260.057.8








Days Cash on Hand
703.8635.1475.7381.6287.7213.1
Group Weighted Average
271.1255.6220.5217.5213.5174.3
State Weighted Average
505.4465.8424.9457.2497.5457.2








Cash flow from Operations
$1,639,8411,900,4822,703,5303,620,8612,628,9932,569,873








Debt to Equity
0.000.000.000.000.000.00
Group Weighted Average
0.170.190.140.150.140.16
State Weighted Average
0.600.600.570.560.560.52








Debt per Capita
000000
Group Weighted Average
445478340360337367
State Weighted Average
1,2821,2531,1291,1391,101988








Capital Expenditures:
201120102009200820072006


$566,622819,526484,6381,049,6231,287,0571,647,067










2005200420032002



$1,100,4282,389,3945,475,0396,056,547









Capital Contributions: Excluded from income above
$386,40476,41700550,440380,748
















Operating Statistics














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








Number of Gallons of Water Processed (000) omitted07291,010,1001,650,9001,607,300NA
Number of Gallons of Sewage Processed (000) omitted0638646,4921,056,0461,007,811NA








Number of Gallons of Water Billed (000) omitted579623947,5831,550,2091,384,789NA
Number of Gallons of Sewage Billed (000) omitted270265541,0391,041,139993,586NA








Ratio of Water Billed to Water Processed
0.854840.938110.939010.86156NA
Ratio of Sewage Billed to Sewage Processed
0.415940.836880.985880.98589NA








Total Revenue from Water Sales3,254,0573,177,1113,613,1304,000,4323,539,349NA
Total Revenue from Sewage Sales1,282,0411,260,6131,828,9962,679,1672,392,480NA








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$7,535.198777,565.402427.454026.495295.98240NA
Residential Sewage Sales per thousand Gallons$1,466.759505,541.288125.472524.813065.98240NA








Water Sales per thousand Gallons outside Municipal Limits



7.32569NA
Sewage Sales per thousand Gallons outside Municipal Limits



4.00998NA








Total Water Sales per thousand gallons for Redistribution$0.000000.000000.000000.00000228,873.00000NA
Total Sewage Sales per thousand gallons for Redistribution$0.000000.000000.000000.000000.00000NA




Go to top of page
Key Ratios of Electric Systems for The




Town of Forest City













201120102009200820072006








Population
7,4997,1337,1627,1547,2297,283
Power Agency Group
Other Units with Electric Systems
Total Operating Revenues
$12,221,82311,533,38910,884,65110,251,1079,782,8999,302,539
Group Weighted Average
18,035,18316,483,20215,700,51915,287,45714,442,31513,999,448








% to Total Operating Revenues






Power Purchases
57.5%50.6%58.0%51.8%49.8%48.7%
Group Weighted Average
60.6%61.8%68.8%64.2%62.8%61.9%








Other Operating Expenses
13.9%13.8%15.9%18.6%18.4%19.1%
Group Weighted Average
19.8%21.6%19.0%18.7%18.7%22.4%








Operating Margin
28.6%35.7%26.1%29.7%31.8%32.3%
Group Weighted Average
19.6%16.7%12.2%17.2%18.5%15.7%








Operating Transfers In
0.0%0.0%0.0%0.0%0.0%0.0%
Group Weighted Average
0.0%0.0%0.0%0.5%0.2%0.1%








Operating Transfers Out
32.7%34.7%23.3%24.4%33.2%29.6%
Group Weighted Average Out
6.0%6.5%5.7%6.5%6.4%8.3%








Net Income
-3.6%1.5%3.6%6.1%-0.6%3.5%
Group Weighted Average
13.0%10.1%6.5%11.3%11.3%5.9%








Key Ratios and Cash Flow














Quick Ratio
5.56.25.15.04.210.8
Group Weighted Average
5.14.74.12.91.30.8








Coverage Ratio
1.571.621.531.670.411.16
Group Weighted Average
1.251.141.100.990.880.99








Days Sales in Receivables
57.555.554.752.656.251.7
Group Weighted Average
50.852.846.942.443.543.3








Days Cash on Hand
135.8129.0140.6124.698.385.4
Group Weighted Average
169.7154.8122.8120.1111.093.3








Cash flow from Operations
$4,838,0293,606,3203,293,9673,457,5823,864,2942,966,370








Capital Expenditures:
$566,622819,526484,6381,049,6231,287,0571,647,067


















201120102009200820072006
Capital Contributions: Excluded from Income Above
$000000








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


83.49%63.41%51.16%50.47%-67.86%0.00%










200520042003200220012000


0.65%0.55%0.65%0.77%0.80%1.42%








Gross Electric Fund Assets as Cost
$11,566,67011,489,00411,486,77211,260,77210,843,03410,353,374
Estimated Tax Loss from Municipal Ownership of Utility
$33,543$33,31834,46032,65632,52931,060
Tax Rate Equivalent
0.00600.00570.00570.00550.00630.0061








Operating Transfers to the General Fund as a % of Gross Fixed Assets
34.58%26.11%22.11%22.20%-29.97%0.00%








Operating Transfers to the General Fund as a Tax Rate Equivalent
0.71110.50880.42000.4212-0.63310.0000








Tax Rate Adjusted for Assessed to Sales Ratio
0.29140.27050.27970.27160.24740.2658








Tax Rate Adjusted Excluding Transfers
1.00250.77930.69980.6927-0.38580.2658








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 %18.36%16.06%24.86%33.43%34.80%
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

Go to top of page
Analysis of Property Tax

20072008200920102011
Municipality96.86%97.17%96.63%96.50%95.03%
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






Go to top of page
Analysis of General Obligation Debt

20072008200920102011
Municipality00000
Pop. Group9371698979
Statewide478456455449450






Municipal Population Group: 5,000 to 9,999






Go to top of page
Analysis of Revenue

20072008200920102011
Property Tax$212245251239218
Utility2,1922,3892,2572,2482,255
Sales Tax105105897666
Sales & Services176184189188178
Intergovernmental331122188169259
Debt Proceeds0375000
Other Miscellaneous1122485848161
Total$3,1283,6683,0322,9683,137

Go to top of page
Analysis of Revenue for Fiscal 2011











2011
2011
CategoryRevenue
Per Capita
Property Tax$1,634,215
$218
Water/Sewer4,687,708
625
Electric12,221,823
1,630
Other Utilities0
0
Sales Tax495,408
66
Sales & Services1,336,095
178
Intergovernment1,943,395
259
Debt Proceeds0
0
Miscellaneous1,204,520
161
Total$23,523,164
$3,137





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





Go to top of page
Analysis of Expenditures by Function for Fiscal 2011











2011
2011
CategoryExpenditures
Per Capita
General Government$1,018,346
$136
Water/Sewer3,419,418
456
Electric8,350,925
1,114
Other Utilities0
0
Debt Service287,338
38
Transportation1,325,291
177
Public Safety3,909,675
521
Other3,735,410
498
Total$22,046,403
$2,940





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





Go to top of page
Analysis of Expenditures by Object for Fiscal 2011






2011
2011
CategoryExpenditures
Per Capita
Salaries & Wages$7,113,977
$949
Water/Sewer Capital566,622
76
Electric Capital77,666
10
Other Capital660,892
88
Other Operating13,627,246
1,817
Total$22,046,403
$2,940





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






Last Updated 6/15/2012 11:15:36 AM