North Carolina
Department of State Treasurer
Financial Information
City of Kings Mountain



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$3,002,579 $3,011,220 $2,882,505 $2,627,297 $2,662,549 $2,392,412


Utility 21,992,423 20,694,118 21,177,918 22,602,542 20,168,316 22,372,131


Sales Tax 789,584 780,797 1,020,079 1,127,426 1,026,247 924,313


Sales & Services 1,281,461 1,207,838 1,172,807 1,135,878 1,074,944 998,213


Intergovernmental 3,590,588 2,014,334 2,401,071 2,203,521 1,980,301 1,724,029


Debt Proceeds 341,086 28,612 366,465 427,644 3,310,086 -


Other Miscellaneous 1,125,263 859,485 998,496 1,119,757 1,084,826 1,095,891


Total$32,122,984 28,596,404 30,019,341 31,244,065 31,307,269 29,506,989










Expenditures by Function







Utility$17,612,642 17,514,544 18,402,093 19,552,689 18,423,761 20,707,829


Debt Service 1,193,388 1,432,957 1,424,679 1,427,232 - -


Transportation 1,124,486 1,009,634 1,440,000 1,231,213 1,183,233 1,039,024


General Government 1,726,074 1,664,453 1,824,273 2,289,499 2,032,540 2,098,656


Public Safety 3,468,408 3,432,961 3,207,385 2,949,093 2,895,099 3,058,091


Other 4,689,247 2,764,249 4,044,652 4,996,742 3,751,486 2,160,081


Total$29,814,245 27,818,798 30,343,082 32,446,468 28,286,119 29,063,681










Expenditures by Object







Salaries & Wages$8,624,540 8,305,011 8,373,827 8,328,224 8,059,150 7,925,998


Capital Outlay 1,422,065 1,116,251 1,302,613 2,504,460 1,687,166 419,752


Other Operating + Debt Service 19,767,640 18,397,536 20,666,642 21,613,784 18,539,803 20,717,931


Total$29,814,245 27,818,798 30,343,082 32,446,468 28,286,119 29,063,681



















Per Capita Revenues by Source







Property Tax$283 279 268 246 251 226


Utility 2,074 1,919 1,969 2,120 1,904 2,109


Sales Tax 75 72 95 105 97 87


Sales & Services 121 112 109 107 102 94


Intergovernmental 339 187 223 207 187 163


Debt Proceeds 32 3 34 40 313 -


Other Miscellaneous 106 80 93 105 102 103


Total$3,030 2,652 2,791 2,930 2,956 2,782










Per Capita Expenditures by Function







Utility$1,661 1,624 1,711 1,834 1,740 1,952


Debt Service 113 133 132 134 - -


Transportation 106 94 134 115 112 98


General Government 163 155 170 214 192 198


Public Safety 327 318 298 277 273 288


Other 442 256 376 469 354 204


Total$2,812 2,580 2,821 3,043 2,671 2,740










Per Capita Expenditures by Object







Salaries & Wages$813 770 778 781 761 747


Capital Outlay 134 104 121 235 159 40


Other Operating 1,865 1,706 1,922 2,027 1,751 1,953


Total$2,812 2,580 2,821 3,043 2,671 2,740










Population GroupElectric 10,000 to 49,999 Electric 10,000 to 49,999 Electric 10,000 to 49,999 Electric 10,000 to 49,999 Electric 10,000 to 49,999 Electric 10,000 to 49,999


Number of Municipalites in Group 22 23 22 22 22 22


Average Population In Group 22,715 20,466 20,622 22,003 21,233 20,452


City of Kings Mountain Population 10,602 10,783 10,757 10,662 10,590 10,606

Group Average Per Capita Revenues by Source







Property Tax 415 404401365353344


Utility 2,002 1,7591,7421,8971,8361,894


Sales Tax 126 128143155155150


Sales & Services 136 11611111010497


Intergovernmental 203 216193172183211


Debt Proceeds 69 102317276201125


Other Miscellaneous 87 114127150178155


Total 3,038 2,8393,0343,1253,0102,976










Group Average Per Capita Expenditures by Function







Utility 1,850 1,7081,8151,9071,8171,915


Debt Service 175 175166147136192


Transportation 138 147121120116119


General Government 144 197184157136134


Public Safety 414 412412393374363


Other 299 283340357288270


Total 3,020 2,9223,0383,0812,8672,993










Group Average Per Capita Expenditures by Object







Salaries & Wages 634 628628623586561


Capital Outlay 239 358440429329352


Other Operating 2,147 1,9361,9692,0281,9522,080


Total 3,020 2,9223,0373,0802,8672,993


















General Fund
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201120102009200820072006

General Fund revenues$8,218,629 7,432,673 7,381,266 7,237,744 7,417,607 6,818,200

General Fund expenditures 10,056,169 9,037,493 9,567,681 9,355,409 8,798,112 8,327,077

Operating transfers in 2,115,111 1,948,534 2,072,440 1,882,440 1,129,440 1,960,000

Operating transfers out 17,055 19,794 53,683 20,428 21,450 19,609

Capital leases and installment purchase proceeds 117,357 - 281,180 155,995 178,800 159,529

Other items - - - - - -

Excess of revenues and other sources over (under) expenditures and other uses 377,873 323,920 113,522 (99,658) (93,715) 591,043










Fund balance available (FBA):







In dollars$2,316,803 2,158,805 1,809,855 1,621,639 1,674,963 1,926,843


FBA as a % of GF Net Expenditures:







Unit's FBA %23.2723.8419.3817.5919.3823.53


Group weighted average FBA %37.8538.2139.9638.6937.0140.17


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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Gas, Water/Sewer, Electric













Combined financial results:







Working capital$5,109,372 4,561,942 3,702,373 4,087,159 3,169,492 2,512,977


Quick ratio3.06 2.58 2.15 2.61 2.42 2.03


Net income2,095,182 704,942 528,205 350,808 1,060,968 61,052


Cashflow from operations4,505,884 3,187,378 2,812,563 2,769,958 3,053,534 2,968,660


Depreciation & Amortization Expense1,450,706 1,372,270 1,237,416 1,236,340 1,195,672 1,186,283


























Cash, Investments and Financing
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201120102009200820072006











Population at July 1st of the Previous Year10,60210,78310,75710,66210,59010,606


Population GroupElectric 10,000 to 49,999 Electric 10,000 to 49,999 Electric 10,000 to 49,999 Electric 10,000 to 49,999 Electric 10,000 to 49,999 Electric 10,000 to 49,999


Cash &Investments$8,668,666 $6,520,906 $5,545,503 $5,393,104 $6,861,190 $4,608,872


Investment Earnings61,738 71,445 87,871 230,860 327,555 163,933


Tax Rate Equivalent0.00830.00990.01230.03480.05050.0264


Tax Rate Equivalent Group weighted average0.00730.01050.03040.07070.07930.0520


Tax Rate Equivalent Statewide weighted average0.03170.02470.01330.05240.09200.0573


Latest year of Revaluation 200820082008200420042004


January 1, Prior Year Assessed Valuation$745,615,047 719,722,296 715,773,027 662,920,843 648,529,760 621,989,011


Tax Rate0.40000.40000.40000.40000.40000.3600


Tax Rate Group weighted average0.44100.43640.44110.44980.44540.4425


Tax Rate State Wide0.41220.40900.42620.42380.44500.4321


Assessment -to-Sales Ratio97.0297.5297.8591.8392.2192.45


Assessment -to-Sales Ratio Group weighted average101.3196.9388.6787.5590.1392.19


Assessment -to-Sales Ratio Statewide101.4798.2790.8188.5388.4192.28


Assessed Valuation Adjusted for Assesment to Sales Ratio$768,516,849 738,025,324 731,500,283 721,900,079 703,318,252 672,784,220


EffectiveTax Rate0.38810.39010.39140.36730.36880.3328


Group weighted average Effective Tax Rate0.44680.42300.39110.39380.40150.4080


Statewide weighted average Effective Tax Rate0.41830.40200.38700.37520.39340.3987


Percent Collected95.800096.100095.380095.020095.980095.2400


Percent Collected Group weighted average96.7896.7596.5496.7996.5196.74


Percent Collected Statewide97.4297.3597.3497.5697.5897.55


Percent Collected Excluding Motor Vehicles96.6797.1196.6196.5197.3196.42


Percent Collected Excluding Motor Vehicles Group weighted average97.6897.5497.5798.0397.7398.00


Percent Collected Excluding Motor Vehicles Statewide weighted average98.2598.2398.3098.6598.5998.61


Percent Collected Motor Vehicles Only 85.1584.4383.2481.6183.0985.20


Percent Collected Motor Vehicles Only Group weighted average86.3286.1284.7283.9484.2185.28


Percent Collected Motor Vehicles Only Statewide weighted average 86.4186.3886.5586.7486.7186.80


Tax Uncollected320,153 313,415 355,951 353,786 311,173 318,789


Tax Rate Equivalent0.04290.04350.04970.05340.04800.0513


Dominant County: Cleveland






Debt Information








Population Group10,000 to 24,99910,000 to 24,99910,000 to 24,99910,000 to 24,99910,000 to 24,99910,000 to 24,999


Ratings:







Fitch







Moody'sA1A1Baa1Baa1Baa1Baa1


S & PBBB+BBB+BBB+BBB+BBB+BBB+











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




Enterprise GO Debt$95,000 495,000 965,000 1,445,000 1,930,000 2,425,000


General Government GO Debt0 0 0 0 0 0


Total General Obligation Debt95,000 495,000 965,000 1,445,000 1,930,000 2,425,000


Per Capita$9 46 90 136 182 229


Total Per Capita for the Population Group111 132 130 153 166 163


Total Per Capita Statewide450 449 455 456 478 495


Total per Assessed Valuation Adjusted for Current Year Sales0.0124%0.0671%0.1319%0.2002%0.2744%0.3604%


Total per Assessed Valuation Adjusted for Current Year Sales- Group Average0.1155%0.1377%0.1320%0.1585%0.1868%0.1912%


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$1,086,245 1,298,198 1,502,209 1,698,577 1,887,588 1,356,214


--General Government1,939,799 2,118,104 2,283,116 2,435,586 2,359,786 0


Total*$3,026,044 3,416,302 3,785,325 4,134,163 4,247,374 1,356,214


* 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 Changes10,60210,78310,75710,66210,59010,606









1.5AFISCAL Governmental Activities Assets14,179,75514,231,86814,617,14317,443,45417,229,65713,575,382
1.5BSUMMARYGovernmental Activities Liabilities2,565,6452,137,8291,883,5354,348,8224,392,2551,242,743
3.5A
Business Type Activities Assets42,305,92739,970,96139,764,05637,493,89637,524,80037,275,584
3.5B
Business Type Activities Liabilties5,669,5655,763,3676,261,4044,436,2984,789,0145,196,815
6.5A
Fiduciary Funds Assets207,563204,392



6.5B
Fiduciary Funds Liabilties207,563204,392



10.0PART 2Current Collections of Unit -Wide Levy2,974,4792,965,8282,856,0022,627,2972,662,5492,392,412
11.0TAXCurrent Collections of Special Tax Districts32,91233,04031,259


12.0REVENUESPrior Years' Levy Collections





13.0
Penalties and Interest28,10045,39226,503


14.0
Collections of Taxes Previously Written Off





15.0
Animal Tax





15.1
Solid Waste Disposal Tax

4,962


16.0
1% Local Government Option Sales Tax367,242344,797352,286383,511361,257333,351
17.0
1/2% Local Government Option Sales Tax (40)245,934238,282246,990274,690244,444214,027
18.0
1/2% Local Government Option Sales Tax (42)178,854182,574245,127273,102243,028212,943
18.5
1/2% Local Government Option Sales Tax (44)-2,44615,144175,676196,123177,518163,992
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 - Federal71,06167,22964,48863,00161,50657,340
28.0INTERGOVEquitable Sharing of Fed. Forfeited Prop.





29.0REVENUESGeneral Government





30.0
Public Safety



20,343119,880
31.0
Transportation - Streets





32.0
Transportation - All Other





33.0
Environmental Protection





34.0
Econ. & Phys. Dev. - Housing/Comm. Dev.642,74984,040749,375490,73420,000
35.0
Econ. & Phys. Dev. - All Other





36.0
Human Services: Health, Mental Hlt & Hosp





37.0
Human Services: All Other121,242100,99762,87969,56361,05878,094
38.0
Culture & Recreation





39.0STATEPayments In Lieu of Taxes - State





40.0INTERGOVUnauthorized Substance Tax





41.0REVENUESTransitional Hold Harmless247,024209,778



42.0
Wireless Enhanced 911 Service Charges105,284105,284105,284105,284105,284
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 Tax838,147813,934823,643797,380769,830886,891
45.0
Beer and Wine Tax





46.0
Powell Bill306,940302,249336,320371,221333,414338,423
50.0
Court Fees - Facilities and Arrest Fees4,2684,4895,7663,9794,8055,927
51.0
General Government10,75910,47411,04312,11112,49312,232
52.0
Public Safety





53.0
Transportation - Streets





54.0
Transportation - All Other17,836



3,663
55.0
Environmental Protection





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





57.0
Econ. & Phys. Dev. - All Other462,468


293,063
58.0
Human Services -Health, Mental Health, Hosp





59.0
Human Services - All Other5,39712,65315,48416,40215,36816,362
60.0
Culture and Recreation





61.0LOCALPayments in Lieu of Taxes - Local





62.0INTERGOVGeneral Government60,02060,02060,02058,27156,03056,030
63.0REVENUESPublic Safety127,073131,28498,97888,72475,04494,303
64.0
Transportation - Streets





65.0
Transportation - All Other





66.0
Environmental Protection100,000




67.0
Economic and Physical Development334,15839,922
57,914100,2726,093
68.0
Human Services - Health, Mental Hlt & Hosp





69.0
Human Services - All Other





70.0
Culture and Recreation136,16271,98167,79168,93751,79148,791
71.0PERMITS Building Permits103,46977,773102,073122,913197,036202,656
72.0& FEESInspection Fees





72.1
Amusements licensing and permit taxes





73.0
Other Permits44,73416,95718,00711,63610,79410,506
74.0SALES &Parking Revenues





75.0SERVICESRents and Royalties





76.0
Airport





77.0
Fire Protection Charges





78.0
Solid Waste





79.0
Ambulance and Rescue Squad Charges





80.0
Cemeteries90,400122,505140,845128,94092,158102,406
81.0
Recreation Service Revenues346,714349,253290,387295,014286,107240,604
82.0
Library Service Revenues





83.0
Other Cultural and Rec Service Revenues





84.0
Mass Transit - City Operated





85.0
Other Sales and Services844,347736,080741,575711,924696,679655,203
86.0UTILITYWater and Sewer Charges4,090,9123,241,2083,337,5844,093,9294,185,3384,452,628
87.0REVENUESElectric Charges12,375,99612,053,49711,480,88610,326,7538,915,5958,622,077
88.0
Gas Charges5,525,5155,399,4136,359,4488,181,8607,067,3839,297,426
88.1
Storm Water Fees





89.0MISC.Investment Earnings - Bond Proceeds





90.0REVENUESInvestment Earnings - All Other Funds61,73871,44587,871230,860327,555163,933
91.0
Special Assessments





92.0
Private Contributions and Donations3,000

1005,22513,000
93.0
Sales of Materials and Fixed Assets3,3541,2752,748


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




12,982
98.0
Other Miscellaneous Revenues876,056658,995751,576754,248544,216692,814
99.0
Proceeds of Sale of Bonds and Notes





100.0
Proceeds of Capital Leases/Install Purchases341,08628,612366,465427,6443,310,086
101.0
Other





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 & Wages107,90291,40782,14967,27249,66251,536
109BGENERALGoverning Body - Other Direct413,408425,927513,409481,997147,063105,765
109CGOVTGoverning Body - Construction





109D
Governing Body - Purchase of P,P&E16,619




110A
Administration - Salaries & Wages





110B
Administration - Other Direct





110C
Administration - Construction





110D
Administration - Purchase of P,P&E





111A
Elections - Salaries & Wages





111B
Elections - Other Direct





111C
Elections - Construction





111D
Elections - Purchase of P,P&E





112A
Finance - Salaries & Wages295,918281,176263,369468,219708,862764,870
112B
Finance - Other Direct198,692191,226216,800


112C
Finance - Construction





112D
Finance - Purchase of P,P&E
13,40067,405158,33125,896
113A
Taxes - Salaries & Wages





113B
Taxes - Other Direct





113C
Taxes - Construction





113D
Taxes - Purchase of P,P&E





114A
Legal - Salaries & Wages





114B
Legal - Other Direct





114C
Legal - Construction





114D
Legal - Purchase of P,P&E





115A
Public Buildings - Salaries & Wages





115B
Public Buildings - Other Direct





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 & Wages565,258560,824553,071773,431716,117709,286
118B
Gen. Govt. All Other - Other Direct92,27288,903128,070332,304368,200443,331
118C
Gen. Govt. All Other - Construction





118D
Gen. Govt. All Other - Purchase of P,P&E36,00511,590
7,94516,74023,868
119APUBLICPolice & Comm - Traffic Control - Salaries and Wages1,905,2941,896,8071,891,7841,844,3411,738,2311,715,243
119BSAFETYPolice & Comm - Traffic Control - Other Direct369,094238,512253,212302,316297,477274,340
119C
Police & Comm - Traffic Control - Construction





119D
Police & Comm - Traffic Control - Purchase of P,P&E45,40875,76043,167116,98548,735209,166
120A
Emergency Communications - Salaries & Wages





120B
Emergency Communications - Other Direct

23,85712,12210,939
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 Direct17,60821,584



121C
Emergency Mgmt - Construction





121D
Emergency Mgmt - Purchase of P,P&E126,633243,027



122A
Fire - Salaries & Wages570,476565,462555,895589,430576,069570,463
122B
Fire - Other Direct154,492142,926101,65228,325169,812236,753
122C
Fire - Construction





122D
Fire - Purchase of P,P&E21,240
42,753


123A
Inspectors - Salaries & Wages187,065178,270213,241


123B
Inspectors - Other Direct12,19312,94228,224


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 & Wages607,022601,376581,522589,010653,524664,115
128B
Streets and Highways - Other Direct150,355156,123212,863224,261446,105277,517
128C
Streets and Highways - Construction





128D
Streets and Highways - Purchase of P,P&E28,91027,491182,2263,39283,60497,392
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 & Wages107,121106,125102,62187,856

130B
Powell Bill - Other Direct231,07867,561137,617236,715

130C
Powell Bill - Construction





130D
Powell Bill - Purchase of P,P&E
50,958223,15189,979

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 & Wages427,575374,667391,579372,837345,534359,737
136BMENTALSolid Waste - Other Direct593,364358,607418,941389,408363,467394,798
136CPROTECTIONSolid Waste - Construction





136D
Solid Waste - Purchase of P,P&E127,405
215,296
179,805
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 & Wages84,93084,50486,677


138B
Cemeteries - Other Direct24,49934,32733,330


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 & Wages181,523179,005174,349178,828175,477
141B
Economic Development - Other Direct681,524347,453265,270232,626231,090
141C
Economic Development - Construction477,452




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





142A
Community Development - Salaries & Wages




174,526
142B
Community Development - Other Direct




93,038
142C
Community Development - Construction





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




6,855
143A
Housing & Urban Renewal - Salaries & Wages





143B
Housing & Urban Renewal - Other Direct642,74986,5851,029,574490,73420,000
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


203,099199,143193,950
145B
Econ. Dev. All Other - Other Direct


31,97736,32331,007
145C
Econ. Dev. All Other - Construction

154,1741,870,3951,044,24638,414
145D
Econ. Dev. All Other - Purchase of P,P&E




23,829
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


340,434305,418309,829
152B
Human Serv. All Other - Other Direct


226,222201,117176,037
152C
Human Serv. All Other - Construction





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





153ACULTURE Recreation & Parks - Salaries & Wages56,52655,41858,25354,89652,01650,550
153BRECREATIONRecreation & Parks - Other Direct115,94494,309101,991106,96075,21182,130
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 & Wages315,442330,804317,133


156B
Libraries - Other Direct251,627169,411163,892


156C
Libraries - Construction





156D
Libraries - Purchase of P,P&E





157A
Cult. & Recr. All Other - Salaries & Wages388,438384,762383,047140,310135,272128,339
157B
Cult. & Recr. All Other - Other Direct232,261264,397251,146100,58399,22776,814
157C
Cult. & Recr. All Other - Construction





157D
Cult. & Recr. All Other - Purchase of P,P&E87,988

257,433288,14020,228
158AUTILITYWater & Sewer - Salaries & Wages1,267,6031,240,8671,324,7831,330,6161,195,5771,094,102
158B
Water & Sewer - Other Direct 1,584,2721,426,3241,419,2591,926,5152,389,6792,936,255
158C
Water & Sewer - Construction





158D
Water & Sewer - Purchase of P,P&E38,846478,558149,414


159A
Electric Power - Salaries & Wages1,034,422961,221976,762917,028841,462802,697
159B
Electric Power - Other Direct8,469,3188,619,7568,407,4987,703,7847,140,5796,602,468
159C
Electric Power - Construction





159D
Electric Power - Purchase of P,P&E375,184150,016139,744


160A
Natural Gas - Salaries & Wages522,025412,316417,592370,617366,786336,755
160B
Natural Gas - Other Direct4,280,5974,160,0355,481,7587,304,1296,489,6788,935,552
160C
Natural Gas - Construction





160D
Natural Gas - Purchase of P,P&E40,37565,45185,283


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 & Fees149,148582,838263,356132,839

161DSERVICEWater & Sewer - Principal654,287372,005691,982517,533

162B
Electric - Interest & Fees21,36229,01639,61730,064

162D
Electric - Principal182,221178,580174,897145,855

163B
Gas - Interest & Fees1,1991,5911,591563

163D
Gas - Principal16,52716,14618,11720,640

164B
School - Interest & Fees





164D
School - Principal





165B
Hospital - Interest & Fees





165D
Hospital - Principal





166B
All Other - Interest & Fees
27,22325,446161,652

166D
All Other - Principal168,644225,558209,673418,086

167BPENSIONDirect Benefit Program - Other Direct





168BFRINGEFringe Benefits Unallocated





169B
Separation Allowance - Law Enforcement





170B
Separation Allowance - Other Employees





171B
Supplemental Retirement - Law Enforcement58,90557,67153,60055,57453,83652,126
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 vehicles2,782,569.2,714,439.002,627,870.002,420,199.002,389,861.002,077,768.00
180.0
Current year's levy -- Motor vehicles (only)227,372.234,975.00266,878.00269,303.00246,910.00244,311.00
181.0PART 6Uncollected Taxes - Current Year's Levy Except Mot Veh92,781.78,440.0089,073.0084,483.0064,263.0074,478.00
182.0OTHERUncollected Taxes - CY Levy -Motor Vehicles33,75536,57844,73349,53241,75536,168
183.0DATAPercentage of Taxes Collected - All Property %95.8096.1095.3895.0295.9895.24
184.0DATAPercentage of Taxes Collected - Exclude Motor Vehicles%96.6797.1196.6196.5197.3196.42
185.0
Percentage of Taxes Collected - Motor Vehicles %85.1584.4383.2481.6183.0985.20
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 Other8,668,6666,520,9065,545,5035,393,1046,861,1904,608,872
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 Revenues34,251,90130,672,55032,391,93833,140,31132,450,51531,801,125
194BFISCALAmount - Subtract Refunding Bond Proceeds




257,629
194CSUMMARYAmount - Subtract Interfund Transfers In2,128,9172,076,1462,372,5971,896,2461,143,2462,036,507
194D
Amount - Net Revenues32,122,98428,596,40430,019,34131,244,06531,307,26929,506,989


Calculated amount32,122,98428,596,40430,019,34131,244,06531,307,26929,506,989


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference





195A
Amount - Total Expenditures31,943,16229,894,94432,715,67934,342,71429,429,36531,100,188
195B
Amount - Subtract Pymts. to Refunded Debt Agent





195C
Amount - Subtract Interfund Transfers Out2,128,9172,076,1462,372,5971,896,2461,143,2462,036,507
195D
Amount - Net Expenditures29,814,24527,818,79830,343,08232,446,46828,286,11929,063,681


Calculated amount29,814,24527,818,79830,343,08232,446,46828,286,11929,063,681


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference














401APart 10Number of residential accounts billed Water



15,000
401BWater /Number of residential accounts billed Sewer



15,000
402ASewer Amount processed and/or purchased in units Water5586867741,053,9071,106,414
402BOperationsAmount processed and/or purchased in units Sewer459540635751,446892,790
403A
Total amount billed in units - Water558477566819,630785,365
403B
Total amount billed in units - Sewer459412452633,100697,164
404A
Of the total in 403A above how many units were Residential W338335349364,125353,458
404B
Of the total in 403B above how many units were Residential S276278264267,131265,293
405A
Of the total in 403 above, how many units were Outside Muni W



102,978
405B
Of the total in 403 above, how many units were Outside Muni S



58,443
406A
Of the total in 405A above how many units were Residential W



29,833
406B
Of the total in 405B above how many units were Residential S



5,096
407A
Of the total in 403A, how many units were sold for redistribution



31,196
407B
Of the total in 403B how many unit were delivered in bulk





408A
Dollars related to 403A above2,026,2821,682,9651,829,3332,202,4062,053,811
408B
Dollars related to 403B above1,849,3421,386,8001,431,2631,667,8201,778,478
409A
Dollars related to 404A above1,485,0461,327,1731,326,1821,296,9401,264,463
409B
Dollars related to 404B above1,317,3131,050,9731,005,656958,775946,052
410A
Dollars related to 405A above



410,805
410B
Dollars related to 405B above



250,739
411A
Dollars related to 406A above



196,584
411B
Dollars related to 406B above



74,482
412A
Dollars related to 407A above



85,079
412B
Dollars related to 407B above





421A
Number of residential accounts billed - Water4,5554,5044,5374,567

421B
Number of residential accounts billed - Sewer3,9473,9183,9473,892

422A
Number of non-residential & bulk accounts billed - Water79778182

422B
Number of non-residential & bulk accounts billed - Sewer10398101162

423A
Estimated percentage of accounts outside of municipal limits
































950.0
OfficialBeverly Moschler

951.0
TitleInterim Finance Director

952.0
Date01/30/201202/23/201102/22/201012/29/200812/18/200711/10/2006
953.0
ContactBeverly Moschler

954.0
TitleInterim Finance Director

955.0
Phone704-734-4607




956.0
Fax704-734-4590




957.0
E-Mail:


















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Key Ratios and Operations Statistics of Water and Sewer Systems for



City of Kings Mountain













201120102009200820072006








Population
10,60210,78310,75710,66210,59010,606
Population Group
Electric 10,000 and AboveElectric 10,000 and AboveElectric 10,000 and AboveElectric 10,000 and AboveElectric 10,000 and AboveElectric 10,000 and Above
Total Operating Revenues
$4,099,0383,260,8933,358,7554,129,5944,198,6254,554,545
Total Operating Revenues Per Capita
$387302312387396429
Group Weighted Average Revenues Per Capita452418375379387374
State Weighted Average Revenues Per Capita404384353365367356








% to Total Operating Revenues






Operating Expenses
95.77%115.56%109.67%99.65%86.08%89.31%
Group Weighted Average
85.07%91.85%92.75%84.06%79.65%80.09%
State Weighted Average
82.59%85.08%89.86%86.70%82.47%81.57%








Operating Margin
4.23%-15.56%-9.67%0.35%13.92%10.69%
Group Weighted Average
14.93%8.15%7.25%15.94%20.35%19.91%
State Weighted Average
17.41%14.92%10.14%13.30%17.53%18.43%








Operating Transfers In
0.34%3.73%0.41%0.33%0.33%0.58%
Group Weighted Average
1.63%0.73%1.07%2.22%0.96%1.05%
State Weighted Average
0.85%1.71%1.26%1.45%1.20%1.83%








Operating Transfers Out
0.00%0.00%7.34%0.00%0.00%0.00%
Group Weighted Average
3.31%2.67%2.58%5.01%3.50%2.45%
State Weighted Average
1.89%1.79%2.55%3.08%1.94%2.63%








Net Income before capital contributions
1.53%-15.66%-24.00%-1.75%11.50%7.99%
Group Weighted Average
8.95%3.85%0.44%11.93%16.08%2.47%
State Weighted Average
8.52%7.13%-10.44%7.19%11.65%9.59%








Key Ratios and Cash Flow














Quick Ratio
1.991.041.562.762.361.67
Group Weighted Average
4.143.893.313.283.433.14
State Weighted Average
3.483.202.812.962.902.82








Days Sales in Receivables
54.060.348.845.144.743.2
Group Weighted Average
49.151.658.652.256.752.4
State Weighted Average
54.458.958.655.260.057.8








Days Cash on Hand
95.658.0130.0171.3188.197.6
Group Weighted Average
427.6409.9305.0362.9376.2349.0
State Weighted Average
505.4465.8424.9457.2497.5457.2








Cash flow from Operations
$1,192,508509,787659,462790,4931,461,9531,148,000








Debt to Equity
0.110.140.170.090.110.14
Group Weighted Average
0.290.290.320.350.450.48
State Weighted Average
0.600.600.570.560.560.52








Debt per Capita
252308370200254301
Group Weighted Average
646627846873845884
State Weighted Average
1,2821,2531,1291,1391,101988








Capital Expenditures:
201120102009200820072006


$38,846478,558149,414000










2005200420032002



$0000









Capital Contributions: Excluded from income above
$996,302193,186838,179000
















Operating Statistics














Estimated population of the areas served Water000015,000NA
Estimated population of the areas served Sewer000015,000NA








Number of Gallons of Water Processed (000) omitted5586867741,053,9071,106,414NA
Number of Gallons of Sewage Processed (000) omitted459540635751,446892,790NA








Number of Gallons of Water Billed (000) omitted558477566819,630785,365NA
Number of Gallons of Sewage Billed (000) omitted459412452633,100697,164NA








Ratio of Water Billed to Water Processed1.000000.694980.731270.777710.70983NA
Ratio of Sewage Billed to Sewage Processed1.000000.762500.711810.842510.78088NA








Total Revenue from Water Sales2,026,2821,682,9651,829,3332,202,4062,053,811NA
Total Revenue from Sewage Sales1,849,3421,386,8001,431,2631,667,8201,778,478NA








Water Revenue per 1000 gallons of Sales




136.92073NA
Sewage Revenue per 1000 gallons of Sales




118.56520NA








Group Average Sales per thousand Gallons Water$0.00019$0.01246$4.86341$7.69779$0.85985NA
Group Average Sales per thousand Gallons Sewage$0.00019$0.02977$6.22714$9.61699$1.05651NA








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$4,396.749173,960.528203,799.948423.561803.57741NA
Residential Sewage Sales per thousand Gallons$4,764.759293,776.810293,809.303033.589163.56606NA








Water Sales per thousand Gallons outside Municipal Limits



3.98925NA
Sewage Sales per thousand Gallons outside Municipal Limits



4.29032NA








Total Water Sales per thousand gallons for Redistribution$0.000000.000000.000000.0000085,079.00000NA
Total Sewage Sales per thousand gallons for Redistribution$0.000000.000000.000000.000000.00000NA




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Key Ratios of Electric Systems for The




City of Kings Mountain













201120102009200820072006








Population
10,60210,78310,75710,66210,59010,606
Power Agency Group
Other Units with Electric Systems
Total Operating Revenues
$12,704,77512,212,42011,633,39410,468,6679,091,7228,719,439
Group Weighted Average
18,035,18316,483,20215,700,51915,287,45714,442,31513,999,448








% to Total Operating Revenues






Power Purchases
55.1%60.0%60.6%55.9%58.3%53.9%
Group Weighted Average
60.6%61.8%68.8%64.2%62.8%61.9%








Other Operating Expenses
22.9%22.4%23.8%28.1%26.9%27.7%
Group Weighted Average
19.8%21.6%19.0%18.7%18.7%22.4%








Operating Margin
21.9%17.6%15.6%16.0%14.8%18.4%
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
13.8%14.1%14.8%15.0%8.5%18.9%
Group Weighted Average Out
6.0%6.5%5.7%6.5%6.4%8.3%








Net Income
8.2%3.5%0.6%1.0%6.4%-0.5%
Group Weighted Average
13.0%10.1%6.5%11.3%11.3%5.9%








Key Ratios and Cash Flow














Quick Ratio
3.63.22.72.52.52.4
Group Weighted Average
5.14.74.12.91.30.8








Coverage Ratio
1.421.321.281.321.011.37
Group Weighted Average
1.251.141.100.990.880.99








Days Sales in Receivables
51.448.648.750.550.149.6
Group Weighted Average
50.852.846.942.443.543.3








Days Cash on Hand
113.371.246.948.449.239.3
Group Weighted Average
169.7154.8122.8120.1111.093.3








Cash flow from Operations
$3,313,3762,677,5912,153,1011,979,4651,591,5811,820,660








Capital Expenditures:
$38,846478,558149,414000


















201120102009200820072006
Capital Contributions: Excluded from Income Above
$00305,414000








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


21.29%23.14%23.30%21.69%-10.48%23.47%










200520042003200220012000


0.40%0.54%0.49%0.52%0.52%0.61%








Gross Electric Fund Assets as Cost
$9,795,4699,420,2858,649,5088,589,6848,437,3548,015,841
Estimated Tax Loss from Municipal Ownership of Utility
$39,182$37,68134,59834,35933,74928,857
Tax Rate Equivalent
0.00530.00520.00480.00520.00520.0046








Operating Transfers to the General Fund as a % of Gross Fixed Assets
17.87%18.26%19.89%18.28%-9.21%19.96%








Operating Transfers to the General Fund as a Tax Rate Equivalent
0.23470.23900.24030.2368-0.11980.2572








Tax Rate Adjusted for Assessed to Sales Ratio
0.38810.39010.39140.36730.36880.3328








Tax Rate Adjusted Excluding Transfers
0.62280.62910.63170.60420.24900.5901








Weighted Average Group Rate Adjusted
0.44680.42300.39110.39380.40150.4080








Weighted Average Non Electric Adjusted Rate
0.42630.41910.40070.41070.43090.4353




Financial Graphs and Comparisons


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Analysis of Available Fund Balance:  General Fund

20072008200920102011
Unit's FBA %19.38%17.59%19.38%23.84%23.27%
Group average FBA %37.01%38.69%39.96%38.21%37.85%
State average Electric/Non Electric Group FBA %33.92%35.32%34.32%33.60%34.72%
State average FBA %36.54%36.34%37.01%37.47%39.53%






Municipal Population Group: Electric 10,000 to 49,999

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Analysis of Property Tax

20072008200920102011
Municipality95.98%95.02%95.38%96.10%95.80%
Pop. Group96.51%96.79%96.54%96.75%96.78%
Statewide97.58%97.56%97.34%97.35%97.42%






Municipal Population Group: Electric 10,000 to 49,999






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Analysis of General Obligation Debt

20072008200920102011
Municipality18213690469
Pop. Group166153130132111
Statewide478456455449450






Municipal Population Group: 10,000 to 24,999






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Analysis of Revenue

20072008200920102011
Property Tax$251246268279283
Utility1,9042,1201,9691,9192,074
Sales Tax97105957275
Sales & Services102107109112121
Intergovernmental187207223187339
Debt Proceeds3134034332
Other Miscellaneous1021059380106
Total$2,9562,9302,7912,6523,030

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Analysis of Revenue for Fiscal 2011











2011
2011
CategoryRevenue
Per Capita
Property Tax$3,002,579
$283
Water/Sewer4,090,912
386
Electric12,375,996
1,167
Other Utilities5,525,515
521
Sales Tax789,584
75
Sales & Services1,281,461
121
Intergovernment3,590,588
339
Debt Proceeds341,086
32
Miscellaneous1,125,263
106
Total$32,122,984
$3,030





Municipal Population Group: Electric 10,000 to 49,999





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Analysis of Expenditures by Function for Fiscal 2011











2011
2011
CategoryExpenditures
Per Capita
General Government$1,726,074
$163
Water/Sewer2,890,721
273
Electric9,878,924
932
Other Utilities4,842,997
457
Debt Service1,193,388
113
Transportation1,124,486
106
Public Safety3,468,408
327
Other4,689,247
442
Total$29,814,245
$2,812





Municipal Population Group: Electric 10,000 to 49,999





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Analysis of Expenditures by Object for Fiscal 2011






2011
2011
CategoryExpenditures
Per Capita
Salaries & Wages$8,624,540
$813
Water/Sewer Capital38,846
4
Electric Capital375,184
35
Other Capital1,008,035
95
Other Operating19,767,640
1,865
Total$29,814,245
$2,812





Municipal Population Group: Electric 10,000 to 49,999






Last Updated 6/15/2012 11:21:11 AM