North Carolina
Department of State Treasurer
Financial Information
City of Morganton



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$7,592,259 $7,679,915 $7,703,607 $7,678,380 $7,059,038 $6,721,156


Utility 42,865,155 39,573,873 37,586,345 35,298,796 35,086,885 34,755,627


Sales Tax 2,745,436 2,453,483 2,635,620 3,266,218 3,046,999 2,895,346


Sales & Services 2,173,419 2,135,162 2,243,375 2,063,134 2,090,873 1,345,245


Intergovernmental 3,451,336 2,836,654 2,931,872 2,974,398 2,482,463 2,971,389


Debt Proceeds - - 2,320,000 3,593,660 922,437 641,177


Other Miscellaneous 1,043,153 1,041,259 1,907,919 2,650,021 3,558,102 2,690,452


Total$59,870,758 55,720,346 57,328,738 57,524,607 54,246,797 52,020,392










Expenditures by Function







Utility$43,255,973 40,020,731 41,460,039 39,402,521 37,720,679 36,061,330


Debt Service 3,273,559 3,921,776 3,603,266 3,524,365 3,445,724 3,683,638


Transportation 1,327,048 1,314,369 1,407,428 1,745,932 1,259,752 1,190,861


General Government 823,702 1,013,685 1,437,861 3,670,568 777,562 828,736


Public Safety 7,221,357 6,693,223 8,477,428 7,032,648 6,590,915 6,857,152


Other 7,317,228 7,794,870 10,064,299 7,671,794 7,744,891 7,137,778


Total$63,218,867 60,758,654 66,450,321 63,047,828 57,539,523 55,759,495










Expenditures by Object







Salaries & Wages$15,800,841 15,827,480 16,459,222 15,349,702 14,362,537 14,258,151


Capital Outlay 3,042,387 2,578,228 6,591,778 5,974,191 4,278,525 3,388,575


Other Operating + Debt Service 44,375,639 42,352,946 43,399,321 41,723,935 38,898,461 38,112,769


Total$63,218,867 60,758,654 66,450,321 63,047,828 57,539,523 55,759,495



















Per Capita Revenues by Source







Property Tax$448 450 450 449 414 395


Utility 2,531 2,320 2,195 2,065 2,056 2,043


Sales Tax 162 145 155 191 179 170


Sales & Services 128 125 131 121 123 79


Intergovernmental 204 166 171 174 145 175


Debt Proceeds - - 136 210 54 38


Other Miscellaneous 62 61 111 155 208 158


Total$3,535 3,267 3,349 3,365 3,179 3,058










Per Capita Expenditures by Function







Utility$2,554 2,346 2,422 2,305 2,210 2,120


Debt Service 193 230 210 206 202 217


Transportation 78 77 82 102 74 70


General Government 50 60 84 215 46 48


Public Safety 426 392 495 411 386 403


Other 432 457 588 449 454 420


Total$3,733 3,562 3,881 3,688 3,372 3,278










Per Capita Expenditures by Object







Salaries & Wages$933 928 961 898 842 838


Capital Outlay 180 151 385 349 251 199


Other Operating 2,620 2,483 2,535 2,441 2,279 2,241


Total$3,733 3,562 3,881 3,688 3,372 3,278










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 Morganton Population 16,935 17,058 17,120 17,097 17,066 17,010

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$16,755,886 15,562,905 16,539,847 17,180,726 16,158,957 15,091,565

General Fund expenditures 17,366,588 17,184,998 21,558,355 20,153,267 16,578,862 16,184,966

Operating transfers in 724,676 749,167 1,015,561 1,002,495 780,959 987,754

Operating transfers out 1,533,507 96,700 146,700 231,145 276,700 36,700

Capital leases and installment purchase proceeds 196,540 - 2,320,000 3,593,660 - 641,177

Other items - - - - 620,527 -

Excess of revenues and other sources over (under) expenditures and other uses (1,222,993) (969,626) (1,829,647) 1,392,469 704,881 498,830










Fund balance available (FBA):







In dollars$9,514,257 8,434,433 8,000,945 8,728,094 6,558,246 5,042,258


FBA as a % of GF Net Expenditures:







Unit's FBA %50.8748.8141.2751.9838.9132.36


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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Electric, Water/Sewer, Cable, Wasterwater Treatment Fund, Other













Combined financial results:







Working capital$15,739,988 11,484,705 11,275,635 14,779,228 18,595,276 18,049,755


Quick ratio4.44 2.32 4.48 5.17 6.32 7.36


Net income2,132,210 223,123 (2,306,543)(2,761,476)(647,919)89,219


Cashflow from operations4,569,027 1,885,283 459,559 (3,303)1,370,313 2,446,906


Depreciation & Amortization Expense2,389,315 2,255,678 2,094,333 1,795,003 1,560,214 1,570,295


























Cash, Investments and Financing
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201120102009200820072006











Population at July 1st of the Previous Year16,93517,05817,12017,09717,06617,010


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$27,422,982 $26,328,809 $29,250,927 $33,945,908 $34,505,455 $35,074,121


Investment Earnings74,374 247,837 903,771 1,707,802 1,725,364 1,665,134


Tax Rate Equivalent0.00450.01450.05340.10240.12240.1239


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 200720072007200720012001


January 1, Prior Year Assessed Valuation$1,667,465,571 1,706,747,056 1,690,890,789 1,667,828,999 1,409,046,806 1,344,239,977


Tax Rate0.46000.46000.46000.46000.50000.5000


Tax Rate Group weighted average0.44100.43640.44110.44980.44540.4425


Tax Rate State Wide0.41220.40900.42620.42380.44500.4321


Assessment -to-Sales Ratio104.49100.0096.41100.0081.3184.50


Assessment -to-Sales Ratio Group weighted 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$1,595,813,543 1,706,747,056 1,753,854,153 1,667,828,999 1,732,931,750 1,590,816,541


EffectiveTax Rate0.48070.46000.44350.46000.40660.4225


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 Collected98.480098.530098.520098.610098.310098.0200


Percent Collected Group weighted average96.7896.7596.5496.7996.5196.74


Percent Collected Statewide97.4297.3597.3497.5697.5897.55


Percent Collected Excluding Motor Vehicles99.1199.1699.1899.3799.1899.01


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 87.6187.4587.7087.3186.8085.27


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 Uncollected487,101 487,232 518,504 534,914 556,928 553,190


Tax Rate Equivalent0.02920.02850.03070.03210.03950.0412


Dominant County: Burke






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'sAa3Aa3A2A2A2A2


S & PA+A+A+A+A+A+











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




Enterprise GO Debt$4,170,000 5,475,000 6,810,000 8,175,000 9,545,000 10,900,000


General Government GO Debt0 0 0 0 0 0


Total General Obligation Debt4,170,000 5,475,000 6,810,000 8,175,000 9,545,000 10,900,000


Per Capita$246 321 398 478 559 641


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 Sales0.2613%0.3208%0.3883%0.4902%0.5508%0.6852%


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$203,328 921,991 2,156,295 3,383,320 4,584,937 4,708,929


--General Government3,760,437 4,133,083 4,505,730 3,228,377 0 134,236


Total*$3,963,765 5,055,075 6,662,025 6,611,696 4,584,937 4,843,164


* 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 Changes16,93517,05817,12017,09717,06617,010









1.5AFISCAL Governmental Activities Assets55,371,20658,986,62163,402,69963,722,27160,293,14558,899,225
1.5BSUMMARYGovernmental Activities Liabilities9,254,8638,501,4379,915,5906,590,7023,201,8683,604,111
3.5A
Business Type Activities Assets74,037,59273,830,03175,974,20279,908,77584,824,57986,965,478
3.5B
Business Type Activities Liabilties8,284,52510,498,47512,865,76914,493,79916,648,12717,907,844
6.5A
Fiduciary Funds Assets





6.5B
Fiduciary Funds Liabilties





10.0PART 2Current Collections of Unit -Wide Levy7,518,2777,551,0807,637,7927,468,7956,916,8976,559,821
11.0TAXCurrent Collections of Special Tax Districts124,146114,396116,201117,03384,74884,653
12.0REVENUESPrior Years' Levy Collections45,627104,19543,227164,706100,086134,172
13.0
Penalties and Interest28,35524,64022,58844,87942,05527,163
14.0
Collections of Taxes Previously Written Off





15.0
Animal Tax





15.1
Solid Waste Disposal Tax11,45611,8762,432


16.0
1% Local Government Option Sales Tax911,674794,144882,3161,022,638918,481936,729
17.0
1/2% Local Government Option Sales Tax (40)1,408,4901,132,145736,583815,093794,150723,121
18.0
1/2% Local Government Option Sales Tax (42)436,566474,601732,666811,054790,106719,988
18.5
1/2% Local Government Option Sales Tax (44)-11,29452,593284,055617,433544,262515,508
19.0
Privilege Licenses154,29957,79258,43657,35156,74155,413
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 Tax58,96252,16576,61821,911

24.0
Prepared Food Tax





25.0
911 Charges





26.0
Gross Short Term lease and Rental Tax





27.0FEDERALPayments In Lieu of Taxes - Federal30,62128,80335,65126,70026,87724,697
28.0INTERGOVEquitable Sharing of Fed. Forfeited Prop.





29.0REVENUESGeneral Government





30.0
Public Safety
135,89712,2918,646
5,820
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 - State80,933107,911107,911108,01599,10899,108
40.0INTERGOVUnauthorized Substance Tax





41.0REVENUESTransitional Hold Harmless97,70078,056205,695

29,489
42.0
Wireless Enhanced 911 Service Charges





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





42.2
ETSF Interest Income





43.0
Piped Natural Gas Charge Distribution





44.0
Utility Franchise Tax1,456,6861,430,8161,507,6951,455,5991,363,4261,206,321
45.0
Beer and Wine Tax75,18124,41876,78278,61376,86275,384
46.0
Powell Bill468,136468,019529,095592,731530,871542,667
50.0
Court Fees - Facilities and Arrest Fees11,04517,77517,68118,92621,46815,535
51.0
General Government934,72526,902


58,981
52.0
Public Safety
194,508192,257186,448155,320175,533
53.0
Transportation - Streets





54.0
Transportation - All Other


250,00013,510474,960
55.0
Environmental Protection





56.0
Econ. & Phys. Dev. - Housing/Community Dev195,925226,310152,019158,49098,589172,550
57.0
Econ. & Phys. Dev. - All Other





58.0
Human Services -Health, Mental Health, Hosp





59.0
Human Services - All Other





60.0
Culture and Recreation





61.0LOCALPayments in Lieu of Taxes - Local100,38497,23994,79590,23096,43290,344
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 Permits50,54938,79759,98953,49477,747101,869
72.0& FEESInspection Fees168,827129,456173,630121,945129,843164,473
72.1
Amusements licensing and permit taxes





73.0
Other Permits6006001,8001,5001,000925
74.0SALES &Parking Revenues9,16414,94219,22714,49317,29213,884
75.0SERVICESRents and Royalties7443,0157,2358,2014,5552,279
76.0
Airport





77.0
Fire Protection Charges





78.0
Solid Waste1,078,5361,010,0081,035,0701,062,9901,093,367351,808
79.0
Ambulance and Rescue Squad Charges





80.0
Cemeteries15,98214,76015,95713,0319,8258,984
81.0
Recreation Service Revenues535,214464,666502,029503,199396,923348,775
82.0
Library Service Revenues





83.0
Other Cultural and Rec Service Revenues251,752396,363386,917174,044231,258290,004
84.0
Mass Transit - City Operated





85.0
Other Sales and Services282,027231,408276,940287,176337,653329,511
86.0UTILITYWater and Sewer Charges9,330,6449,189,8509,555,2068,199,4848,482,2098,455,130
87.0REVENUESElectric Charges29,252,70526,239,28324,052,41923,445,69523,111,56923,128,640
88.0
Gas Charges4,281,8064,144,7403,978,7203,653,6173,493,1073,171,857
88.1
Storm Water Fees





89.0MISC.Investment Earnings - Bond Proceeds





90.0REVENUESInvestment Earnings - All Other Funds74,374247,837903,7711,707,8021,725,3641,665,134
91.0
Special Assessments





92.0
Private Contributions and Donations131,64160,01722,604173,26572,11949,843
93.0
Sales of Materials and Fixed Assets





94.0
Sale of Real Property

53,000
620,527
95.0
Nongovt Contr For Streets & Traffic Signals





96.0
ABC Mixed Drink Surcharge





97.0
ABC Profit Distribution189,316258,660278,921285,309263,543227,671
98.0
Other Miscellaneous Revenues74,36264,690155,713106,711522,151334,576
99.0
Proceeds of Sale of Bonds and Notes





100.0
Proceeds of Capital Leases/Install Purchases

2,320,0003,593,660922,437641,177
101.0
Other4,6214,9734,8043,7004,3195,895
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 & Wages58,93557,76255,06658,73851,55658,684
109BGENERALGoverning Body - Other Direct-395,324-336,781-329,732-326,805-277,246-326,949
109CGOVTGoverning Body - Construction





109D
Governing Body - Purchase of P,P&E103,443100,000123,262


110A
Administration - Salaries & Wages680,796647,942636,182580,630546,680522,165
110B
Administration - Other Direct-11,58810,156-153,679-175,365-90,503-113,180
110C
Administration - Construction





110D
Administration - Purchase of P,P&E





111A
Elections - Salaries & Wages





111B
Elections - Other Direct2,46918,8098,55038,4026,4229,261
111C
Elections - Construction





111D
Elections - Purchase of P,P&E





112A
Finance - Salaries & Wages557,029557,483619,178580,364558,279521,819
112B
Finance - Other Direct-483,601-420,204-198,977-240,409-261,089-147,888
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 & Wages192,991188,004189,380179,618171,928167,665
114B
Legal - Other Direct-129,502-109,748-141,366-137,406-113,398-148,469
114C
Legal - Construction





114D
Legal - Purchase of P,P&E





115A
Public Buildings - Salaries & Wages





115B
Public Buildings - Other Direct77,586130,978142,481-29,96291,913137,417
115C
Public Buildings - Construction





115D
Public Buildings - Purchase of P,P&E12,88811,700291,8203,027,951

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 & Wages371,421422,586447,634395,377336,073381,843
118B
Gen. Govt. All Other - Other Direct-213,841-265,002-251,938-299,813-243,053-233,632
118C
Gen. Govt. All Other - Construction





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


19,248

119APUBLICPolice & Comm - Traffic Control - Salaries and Wages5,366,9035,277,2205,674,6525,222,9265,043,8945,127,797
119BSAFETYPolice & Comm - Traffic Control - Other Direct1,048,684830,2391,283,2411,041,866899,285840,504
119C
Police & Comm - Traffic Control - Construction





119D
Police & Comm - Traffic Control - Purchase of P,P&E495,665212,7711,181,805423,694323,413562,356
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 & Wages





122B
Fire - Other Direct





122C
Fire - Construction





122D
Fire - Purchase of P,P&E





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 & Wages725,143889,700826,589764,702755,167642,804
128B
Streets and Highways - Other Direct84,698122,380145,106251,320133,90594,678
128C
Streets and Highways - Construction





128D
Streets and Highways - Purchase of P,P&E48,957




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 & Wages233,67986,838165,735186,739187,757274,695
130B
Powell Bill - Other Direct98,382215,451202,988341,13397,038107,186
130C
Powell Bill - Construction





130D
Powell Bill - Purchase of P,P&E136,189
67,010202,03885,88571,498
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 & Wages680,043691,175725,122678,484643,811604,459
136BMENTALSolid Waste - Other Direct331,725313,922296,491357,298319,345331,640
136CPROTECTIONSolid Waste - Construction





136D
Solid Waste - Purchase of P,P&E32,529
187,233308,976223,65826,188
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 & Wages420,518416,356414,411409,503384,288382,009
138B
Cemeteries - Other Direct31,62247,06557,43254,50064,93764,463
138C
Cemeteries - Construction





138D
Cemeteries - Purchase of P,P&E9,629

43,78251,6089,827
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 & Wages478,426516,652531,275512,485456,625449,348
140B& PHYSICALPlanning & Zoning - Other Direct86,59994,948142,257140,161116,57496,682
140CDEVELOPPlanning & Zoning - Construction




134,117
140D
Planning & Zoning - Purchase of P,P&E24,35323,011130,80649,91522,77418,518
141A
Economic Development - Salaries & Wages





141B
Economic Development - Other Direct289,530295,863288,752272,768240,500266,000
141C
Economic Development - Construction





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





142A
Community Development - Salaries & Wages129,678127,051125,476115,370113,296106,211
142B
Community Development - Other Direct366,940179,454244,255210,665164,262157,636
142C
Community Development - Construction





142D
Community Development - Purchase of P,P&E21,45813,815


79,600
143A
Housing & Urban Renewal - Salaries & Wages





143B
Housing & Urban Renewal - Other Direct196,413218,11696,570117,66850,308121,415
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 & Wages1,532,5341,549,3581,601,4311,608,6881,360,9061,188,880
153BRECREATIONRecreation & Parks - Other Direct1,156,3131,051,4481,839,9451,477,8301,219,3591,058,624
153C
Recreation & Parks - Construction32,065588,8971,477,764
685,819836,510
153D
Recreation & Parks - Purchase of P,P&E96,430161,89774,622148,800291,39241,177
154A
Coliseum - Salaries & Wages282,701277,301279,026220,838212,249198,479
154B
Coliseum - Other Direct532,306457,481639,595429,150464,822481,716
154C
Coliseum - Construction





154D
Coliseum - Purchase of P,P&E
85,409189,63950,505152,130
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 & Wages143,851134,657140,302128,158131,140137,554
157B
Cult. & Recr. All Other - Other Direct141,334165,640196,001184,476192,111170,266
157C
Cult. & Recr. All Other - Construction





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


34,106

158AUTILITYWater & Sewer - Salaries & Wages2,133,7812,178,3572,239,8822,044,0621,830,9611,952,247
158B
Water & Sewer - Other Direct 5,860,1114,996,0065,642,0515,291,4014,343,4473,957,293
158C
Water & Sewer - Construction
443,465845,745


158D
Water & Sewer - Purchase of P,P&E1,647,431584,6551,103,1261,097,9081,426,772788,108
159A
Electric Power - Salaries & Wages1,360,6311,371,5301,392,9651,343,1211,275,5461,192,182
159B
Electric Power - Other Direct27,678,46526,005,16525,405,31425,162,09123,961,25423,552,306
159C
Electric Power - Construction





159D
Electric Power - Purchase of P,P&E352,340166,457683,638531,342990,125758,751
160A
Natural Gas - Salaries & Wages451,781437,508394,916319,899302,381349,310
160B
Natural Gas - Other Direct3,742,4233,651,4373,517,0943,576,7713,565,2443,449,208
160C
Natural Gas - Construction





160D
Natural Gas - Purchase of P,P&E29,010186,151235,30835,92624,94961,925
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 & Fees225,905284,989306,823376,824376,225410,916
161DSERVICEWater & Sewer - Principal1,629,5581,640,5341,545,5961,475,7891,286,6001,320,650
162B
Electric - Interest & Fees3,8073,893



162D
Electric - Principal11,00011,045



163B
Gas - Interest & Fees6,40932,08257,68483,179108,888137,541
163D
Gas - Principal523,2141,046,4291,046,4281,046,4291,046,4291,163,723
164B
School - Interest & Fees





164D
School - Principal





165B
Hospital - Interest & Fees





165D
Hospital - Principal





166B
All Other - Interest & Fees180,022215,367147,45289,34650,34747,554
166D
All Other - Principal693,644687,437499,283452,798577,235603,254
167BPENSIONDirect Benefit Program - Other Direct





168BFRINGEFringe Benefits Unallocated





169B
Separation Allowance - Law Enforcement171,710236,339192,463211,718192,478178,308
170B
Separation Allowance - Other Employees





171B
Supplemental Retirement - Law Enforcement138,395136,654145,267132,444131,845148,187
172B
Fringe Benefits Other





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


AuthorityCountyMunicipalityAuthorityCountyMunicipalityAuthorityCountyMunicipality
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


CountyCountyCounty
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 - RecipientEconomic DevelopmentEconomic DevelopmentEconomic DevelopmentEconomic DevelopmentEconomic DevelopmentEconomic Development
176B
Other - Intergovt. Expenditures - Item #





176C
Other - Intergovt. Expenditures - Amount257,726318,018318,52367,259134,692134,692
177A
Other - Intergovt. Expenditures - RecipientFoothills AirportFoothills AirportFoothills AirportFoothills AirportFoothills AirportFoothills Airport
177B
Other - Intergovt. Expenditures - Item #





177C
Other - Intergovt. Expenditures - Amount42,50567,33667,37150,40948,28541,767
178A
Other - Intergovt. Expenditures - Recipient





178B
Other - Intergovt. Expenditures - Item #





178C
Other - Intergovt. Expenditures - Amount





179.0
Current year's levy -- Excluding motor vehicles7,357,038.7,435,893.007,435,917.007,279,302.006,621,242.006,347,902.00
180.0
Current year's levy -- Motor vehicles (only)421,409.424,691.00457,785.00488,833.00502,510.00490,141.00
181.0PART 6Uncollected Taxes - Current Year's Levy Except Mot Veh65,692.62,541.0060,719.0046,081.0054,418.0063,049.00
182.0OTHERUncollected Taxes - CY Levy -Motor Vehicles52,21053,29256,33062,04566,30772,200
183.0DATAPercentage of Taxes Collected - All Property %98.4898.5398.5298.6198.3198.02
184.0DATAPercentage of Taxes Collected - Exclude Motor Vehicles%99.1199.1699.1899.3799.1899.01
185.0
Percentage of Taxes Collected - Motor Vehicles %87.6187.4587.7087.3186.8085.27
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 Other27,422,98226,328,80929,250,92733,945,90834,505,45535,074,121
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 Revenues62,128,94157,145,46158,819,68658,910,24755,823,48753,325,351
194BFISCALAmount - Subtract Refunding Bond Proceeds





194CSUMMARYAmount - Subtract Interfund Transfers In2,258,1831,425,1151,490,9481,385,6401,576,6901,304,959
194D
Amount - Net Revenues59,870,75855,720,34657,328,73857,524,60754,246,79752,020,392


Calculated amount59,870,75855,720,34657,328,73857,524,60754,246,79752,020,392


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference





195A
Amount - Total Expenditures65,477,05062,183,76967,941,26964,433,46859,116,21357,064,454
195B
Amount - Subtract Pymts. to Refunded Debt Agent





195C
Amount - Subtract Interfund Transfers Out2,258,1831,425,1151,490,9481,385,6401,576,6901,304,959
195D
Amount - Net Expenditures63,218,86760,758,65466,450,32163,047,82857,539,52355,759,495


Calculated amount63,218,86760,758,65466,450,32163,047,82857,539,52355,759,495


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference














401APart 10Number of residential accounts billed Water



38,000
401BWater /Number of residential accounts billed Sewer



18,000
402ASewer Amount processed and/or purchased in units Water2,3142,8172,9663,174,0003,099,540
402BOperationsAmount processed and/or purchased in units Sewer1,7081,7361,4651,765,0001,708,330
403A
Total amount billed in units - Water2,2042,2752,3512,597,0002,587,000
403B
Total amount billed in units - Sewer1,0801,0281,1001,208,0001,257,000
404A
Of the total in 403A above how many units were Residential W5945421,4101,482,000525,600
404B
Of the total in 403B above how many units were Residential S313




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



468,790
405B
Of the total in 403 above, how many units were Outside Muni S





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



210,240
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



439,000
407B
Of the total in 403B how many unit were delivered in bulk





408A
Dollars related to 403A above4,576,8483,757,8813,909,6213,314,4383,737,268
408B
Dollars related to 403B above4,371,1083,582,3014,334,9294,155,7134,364,074
409A
Dollars related to 404A above2,410,2121,841,2152,345,7731,659,1251,646,072
409B
Dollars related to 404B above1,953,2401,289,6281,733,9721,560,572

410A
Dollars related to 405A above



1,177,457
410B
Dollars related to 405B above





411A
Dollars related to 406A above



506,307
411B
Dollars related to 406B above





412A
Dollars related to 407A above



659,000
412B
Dollars related to 407B above





421A
Number of residential accounts billed - Water8,7838,78111,77932,700

421B
Number of residential accounts billed - Sewer5,6295,6006,40222,000

422A
Number of non-residential & bulk accounts billed - Water3,7193,719640642

422B
Number of non-residential & bulk accounts billed - Sewer1,1831,184591591

423A
Estimated percentage of accounts outside of municipal limits
































950.0
OfficialTammy Kirkpatrick

951.0
TitleAccounting Manager

952.0
Date11/03/201111/29/201012/01/200912/01/200811/27/200711/29/2006
953.0
ContactTammy Kirkpatrick

954.0
TitleAccounting Manager

955.0
Phone(828) 438-5256




956.0
Fax(828) 432-2527




957.0
E-Mail:


















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Key Ratios and Operations Statistics of Water and Sewer Systems for



City of Morganton













201120102009200820072006








Population
16,93517,05817,12017,09717,06617,010
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
$9,320,6829,169,4658,950,5888,150,0418,299,1768,387,675
Total Operating Revenues Per Capita
$550538523477486493
Group Weighted Average Revenues Per Capita452418375379387374
State Weighted Average Revenues Per Capita404384353365367356








% to Total Operating Revenues






Operating Expenses
84.93%77.40%87.20%89.06%73.09%68.72%
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
15.07%22.60%12.80%10.94%26.91%31.28%
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
16.45%2.85%2.32%2.37%2.19%2.22%
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
0.21%4.14%3.56%3.94%3.36%2.96%
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
28.41%18.36%9.92%8.93%26.44%28.64%
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
5.834.794.374.855.135.41
Group Weighted Average
4.143.893.313.283.433.14
State Weighted Average
3.483.202.812.962.902.82








Days Sales in Receivables
38.046.135.834.240.232.4
Group Weighted Average
49.151.658.652.256.752.4
State Weighted Average
54.458.958.655.260.057.8








Days Cash on Hand
314.6510.0417.1456.2555.3511.0
Group Weighted Average
427.6409.9305.0362.9376.2349.0
State Weighted Average
505.4465.8424.9457.2497.5457.2








Cash flow from Operations
$3,148,4843,369,5192,753,5842,167,6333,094,2473,559,945








Debt to Equity
0.100.140.180.200.310.26
Group Weighted Average
0.290.290.320.350.450.48
State Weighted Average
0.600.600.570.560.560.52








Debt per Capita
265372445497579596
Group Weighted Average
646627846873845884
State Weighted Average
1,2821,2531,1291,1391,101988








Capital Expenditures:
201120102009200820072006


$1,647,4311,028,1201,948,8711,097,9081,426,772788,108










2005200420032002



$507,716272,784712,145481,067









Capital Contributions: Excluded from income above
$000000
















Operating Statistics














Estimated population of the areas served Water000038,000NA
Estimated population of the areas served Sewer000018,000NA








Number of Gallons of Water Processed (000) omitted2,3142,8172,9663,174,0003,099,540NA
Number of Gallons of Sewage Processed (000) omitted1,7081,7361,4651,765,0001,708,330NA








Number of Gallons of Water Billed (000) omitted2,2042,2752,3512,597,0002,587,000NA
Number of Gallons of Sewage Billed (000) omitted1,0801,0281,1001,208,0001,257,000NA








Ratio of Water Billed to Water Processed0.952380.807600.792650.818210.83464NA
Ratio of Sewage Billed to Sewage Processed0.632320.592170.750850.684420.73581NA








Total Revenue from Water Sales4,576,8483,757,8813,909,6213,314,4383,737,268NA
Total Revenue from Sewage Sales4,371,1083,582,3014,334,9294,155,7134,364,074NA








Water Revenue per 1000 gallons of Sales




98.34916NA
Sewage Revenue per 1000 gallons of Sales




242.44856NA








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$4,057.595963,397.075651,663.668791.119523.13180NA
Residential Sewage Sales per thousand Gallons$6,231.02689



NA








Water Sales per thousand Gallons outside Municipal Limits



2.51169NA
Sewage Sales per thousand Gallons outside Municipal Limits




NA








Total Water Sales per thousand gallons for Redistribution$0.000000.000000.000000.00000659,000.00000NA
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 Morganton













201120102009200820072006








Population
16,93517,05817,12017,09717,06617,010
Power Agency Group
N.C. Municipal Power Agency Number 1
Total Operating Revenues
$29,170,11926,192,61423,925,93423,422,32023,094,94923,116,052
Group Weighted Average
24,946,15623,064,70722,030,75722,254,71621,085,16320,184,548








% to Total Operating Revenues






Power Purchases
87.8%90.4%94.8%94.5%90.1%87.8%
Group Weighted Average
79.2%79.8%80.1%78.3%79.0%81.9%








Other Operating Expenses
11.8%14.1%17.2%18.6%19.2%19.1%
Group Weighted Average
15.7%16.2%18.2%17.1%17.6%17.5%








Operating Margin
0.4%-4.5%-12.0%-13.2%-9.3%-6.9%
Group Weighted Average
5.1%4.0%1.7%4.6%3.4%0.6%








Operating Transfers In
0.0%0.4%0.4%0.4%0.4%0.2%
Group Weighted Average
0.6%0.1%0.2%0.2%1.7%0.3%








Operating Transfers Out
2.2%2.4%2.6%3.4%4.4%3.4%
Group Weighted Average Out
2.2%2.3%3.0%2.7%2.4%2.4%








Net Income
-1.8%-6.3%-13.5%-14.1%-11.1%-6.9%
Group Weighted Average
3.4%1.8%-1.2%3.5%4.9%-0.2%








Key Ratios and Cash Flow














Quick Ratio
3.63.94.65.47.28.5
Group Weighted Average
4.23.73.93.84.14.0








Coverage Ratio
1.030.990.910.910.940.98
Group Weighted Average
1.061.051.021.081.071.02








Days Sales in Receivables
38.551.237.439.040.736.6
Group Weighted Average
37.839.636.436.836.333.2








Days Cash on Hand
42.654.683.7130.419.6233.7
Group Weighted Average
122.0112.3109.5118.3114.5127.6








Cash flow from Operations
$1,420,543-1,484,236-2,294,025-2,170,936-1,723,934-1,113,039








Capital Expenditures:
$1,647,4311,028,1201,948,8711,097,9081,426,772788,108


















201120102009200820072006
Capital Contributions: Excluded from Income Above
$000000








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


3.91%4.07%3.74%3.71%4.77%4.79%










200520042003200220012000


1.58%1.70%1.75%1.87%1.86%1.80%








Gross Electric Fund Assets as Cost
$22,341,33721,988,99721,822,54021,138,90220,605,36619,615,241
Estimated Tax Loss from Municipal Ownership of Utility
$102,770$101,149100,38497,239103,02798,076
Tax Rate Equivalent
0.00620.00590.00590.00580.00730.0073








Operating Transfers to the General Fund as a % of Gross Fixed Assets
2.93%2.88%2.83%3.02%3.74%3.68%








Operating Transfers to the General Fund as a Tax Rate Equivalent
0.03930.03720.03660.03820.05480.0538








Tax Rate Adjusted for Assessed to Sales Ratio
0.48070.46000.44350.46000.40660.4225








Tax Rate Adjusted Excluding Transfers
0.51990.49720.48000.49820.46130.4763








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 %38.91%51.98%41.27%48.81%50.87%
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
Municipality98.31%98.61%98.52%98.53%98.48%
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
Municipality559478398321246
Pop. Group166153130132111
Statewide478456455449450






Municipal Population Group: 10,000 to 24,999






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Analysis of Revenue

20072008200920102011
Property Tax$414449450450448
Utility2,0562,0652,1952,3202,531
Sales Tax179191155145162
Sales & Services123121131125128
Intergovernmental145174171166204
Debt Proceeds5421013600
Other Miscellaneous2081551116162
Total$3,1793,3653,3493,2673,535

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Analysis of Revenue for Fiscal 2011











2011
2011
CategoryRevenue
Per Capita
Property Tax$7,592,259
$448
Water/Sewer9,330,644
551
Electric29,252,705
1,727
Other Utilities4,281,806
253
Sales Tax2,745,436
162
Sales & Services2,173,419
128
Intergovernment3,451,336
204
Debt Proceeds0
0
Miscellaneous1,043,153
62
Total$59,870,758
$3,535





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$823,702
$50
Water/Sewer9,641,323
569
Electric29,391,436
1,736
Other Utilities4,223,214
249
Debt Service3,273,559
193
Transportation1,327,048
78
Public Safety7,221,357
426
Other7,317,228
432
Total$63,218,867
$3,733





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$15,800,841
$933
Water/Sewer Capital1,647,431
97
Electric Capital352,340
21
Other Capital1,042,616
62
Other Operating44,375,639
2,620
Total$63,218,867
$3,733





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






Last Updated 6/15/2012 11:26:23 AM