North Carolina
Department of State Treasurer
Financial Information
Town of Spruce Pine



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

Institute of Government North Carolina Cities Web Site

Go to North Carolina County and Municipal Financial Information Home Page
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Note: All data unless otherwise specified is for the 12 month period ending June, 30th of the designated year



Municipality Revenues and Expenditures Financial Profile
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201120102009200820072006

Revenues by Source







Property Tax$764,548 $759,849 $669,386 $657,213 $637,982 $641,806


Utility 1,986,328 1,938,916 1,712,440 1,758,038 1,746,984 1,520,960


Sales Tax 298,783 353,007 376,771 401,330 406,914 396,755


Sales & Services 92,310 85,860 91,056 87,216 88,746 83,388


Intergovernmental 466,288 579,830 486,351 533,838 639,787 1,351,587


Debt Proceeds 22,252 - - - - -


Other Miscellaneous 23,914 25,029 95,311 195,708 225,802 168,455


Total$3,654,423 3,742,491 3,431,315 3,633,343 3,746,215 4,162,951










Expenditures by Function







Utility$1,982,458 1,926,111 1,895,654 2,233,638 1,351,325 1,709,599


Debt Service 289,790 286,211 380,851 145,566 319,418 311,917


Transportation 255,157 231,052 205,524 203,160 341,585 419,816


General Government 312,815 282,211 425,112 453,766 557,009 372,611


Public Safety 847,839 841,032 828,709 734,773 665,742 606,961


Other 428,077 361,469 349,467 292,485 356,221 316,638


Total$4,116,136 3,928,086 4,085,317 4,063,388 3,591,300 3,737,542










Expenditures by Object







Salaries & Wages$822,136 765,677 719,397 712,150 793,760 827,854


Capital Outlay 413,804 493,188 591,348 895,796 510,411 781,384


Other Operating + Debt Service 2,880,196 2,669,221 2,774,572 2,455,442 2,287,129 2,128,304


Total$4,116,136 3,928,086 4,085,317 4,063,388 3,591,300 3,737,542



















Per Capita Revenues by Source







Property Tax$351 376 329 323 313 317


Utility 913 960 841 863 857 750


Sales Tax 138 175 183 197 199 196


Sales & Services 42 43 45 43 44 41


Intergovernmental 214 287 239 262 314 667


Debt Proceeds 10 - - - - -


Other Miscellaneous 11 12 47 96 111 83


Total$1,679 1,853 1,684 1,784 1,838 2,054










Per Capita Expenditures by Function







Utility$911 954 931 1,097 663 843


Debt Service 133 142 187 71 157 154


Transportation 117 114 101 100 168 207


General Government 144 140 208 222 272 185


Public Safety 390 416 407 361 327 299


Other 197 179 172 144 175 156


Total$1,892 1,945 2,006 1,995 1,762 1,844










Per Capita Expenditures by Object







Salaries & Wages$378 379 353 350 389 408


Capital Outlay 190 244 290 440 250 385


Other Operating 1,324 1,322 1,363 1,205 1,123 1,051


Total$1,892 1,945 2,006 1,995 1,762 1,844










Population GroupNo Electric 1,000 to 2,499 No Electric 1,000 to 2,499 No Electric 1,000 to 2,499 No Electric 1,000 to 2,499 No Electric 1,000 to 2,499 No Electric 1,000 to 2,499


Number of Municipalites in Group 103 96 100 101 101 103


Average Population In Group 1,619 1,660 1,652 1,661 1,642 1,638


Town of Spruce Pine Population 2,176 2,020 2,037 2,037 2,038 2,027

Group Average Per Capita Revenues by Source







Property Tax 449 410422406369348


Utility 479 421427415423391


Sales Tax 160 151177199195179


Sales & Services 110 8784827672


Intergovernmental 271 238239222221246


Debt Proceeds 41 747512969170


Other Miscellaneous 139 106146192196160


Total 1,649 1,4871,5701,6451,5491,566










Group Average Per Capita Expenditures by Function







Utility 497 492531572461487


Debt Service 154 127154126110108


Transportation 145 141148140142131


General Government 241 202216265201222


Public Safety 397 345350384346326


Other 207 178201203206205


Total 1,641 1,4851,6001,6901,4661,479










Group Average Per Capita Expenditures by Object







Salaries & Wages 537 462480450427402


Capital Outlay 258 255302483305373


Other Operating 846 768818757733704


Total 1,641 1,4851,6001,6901,4651,479


















General Fund
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201120102009200820072006

General Fund revenues$1,644,635 1,648,632 1,709,948 1,748,972 1,860,963 1,698,810

General Fund expenditures 1,847,467 1,684,839 1,819,086 1,641,808 1,857,625 1,744,026

Operating transfers in - - - 512 - -

Operating transfers out - 32,000 11,950 - 9,369 -

Capital leases and installment purchase proceeds 22,252 - - - - -

Other items - - - - - -

Excess of revenues and other sources over (under) expenditures and other uses (180,580) (68,207) (121,088) 107,676 (6,031) (45,216)










Fund balance available (FBA):







In dollars$1,618,534 1,820,688 1,887,730 2,008,663 1,824,849 1,873,619


FBA as a % of GF Net Expenditures:







Unit's FBA %88.68106.05103.10122.3497.74107.43


Group weighted average FBA %64.1466.7966.0562.4565.4864.58


State weighted average Non-Electric Group41.0738.7037.8936.6637.3937.38


State weighted average FBA %39.5337.4737.0336.3436.5436.96

















Enterprise Funds:
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Water/Sewer













Combined financial results:







Working capital$85,854 373,323 534,689 796,073 1,043,649 910,312


Quick ratio1.17 1.98 2.71 2.84 4.28 3.89


Net income(168,467)84,643 (80,245)(194,900)64,238 609,226


Cashflow from operations312,726 342,346 119,981 232,608 453,286 346,747


Depreciation & Amortization Expense398,334 375,181 385,452 361,226 365,395 325,253


























Cash, Investments and Financing
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201120102009200820072006











Population at July 1st of the Previous Year2,1762,0202,0372,0372,0382,027


Population GroupNo Electric 1,000 to 2,499 No Electric 1,000 to 2,499 No Electric 1,000 to 2,499 No Electric 1,000 to 2,499 No Electric 1,000 to 2,499 No Electric 1,000 to 2,499


Cash &Investments$1,960,323 $2,398,541 $2,606,870 $3,052,617 $3,021,021 $2,934,499


Investment Earnings4,705 16,063 32,232 122,499 152,038 88,703


Tax Rate Equivalent0.00230.00780.01870.07360.09540.0556


Tax Rate Equivalent Group weighted average0.00340.00480.01310.02610.04090.0283


Tax Rate Equivalent Statewide weighted average0.03170.02470.01330.05240.09200.0573


Latest year of Revaluation 200920092001200120012001


January 1, Prior Year Assessed Valuation$208,151,858 205,687,684 171,966,962 166,460,765 159,371,380 159,424,162


Tax Rate0.37000.37000.43000.43000.43000.4300


Tax Rate Group weighted average0.27490.29700.29830.28600.34240.3297


Tax Rate State Wide0.41220.40900.42620.42380.44500.4321


Assessment -to-Sales Ratio104.50102.0754.1959.5265.3174.82


Assessment -to-Sales Ratio Group weighted average100.8097.6986.7788.9479.9685.71


Assessment -to-Sales Ratio Statewide101.4798.2790.8188.5388.4192.28


Assessed Valuation Adjusted for Assesment to Sales Ratio$199,188,381 201,516,297 317,340,768 279,671,984 244,022,937 213,076,934


EffectiveTax Rate0.38670.37770.23300.25590.28080.3217


Group weighted average Effective Tax Rate0.27710.29010.25890.25440.27370.2826


Statewide weighted average Effective Tax Rate0.41830.40200.38700.37520.39340.3987


Percent Collected96.460096.230095.850096.460097.120097.6100


Percent Collected Group weighted average96.4195.3295.9996.8697.1896.94


Percent Collected Statewide97.4297.3597.3497.5697.5897.55


Percent Collected Excluding Motor Vehicles97.7498.0998.0798.7699.1199.22


Percent Collected Excluding Motor Vehicles Group weighted average97.0495.9296.6797.7898.0197.76


Percent Collected Excluding Motor Vehicles Statewide weighted average98.2598.2398.3098.6598.5998.61


Percent Collected Motor Vehicles Only 77.0774.6274.9475.5575.9580.80


Percent Collected Motor Vehicles Only Group weighted average84.2085.2184.6085.1686.0785.54


Percent Collected Motor Vehicles Only Statewide weighted average 86.4186.3886.5586.7486.7186.80


Tax Uncollected63,548 73,822 82,584 79,220 64,227 64,991


Tax Rate Equivalent0.03050.03590.04800.04760.04030.0408


Dominant County: Mitchell






Debt Information








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


Ratings:







Fitch







Moody's







S & P
















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




Enterprise GO Debt$947,596 1,124,872 1,295,603 1,527,742 1,750,901 1,965,430


General Government GO Debt0 0 0 0 0 0


Total General Obligation Debt947,596 1,124,872 1,295,603 1,527,742 1,750,901 1,965,430


Per Capita$435 557 636 750 859 970


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


Total Per Capita Statewide450 449 455 456 478 495


Total per Assessed Valuation Adjusted for Current Year Sales0.4757%0.5582%0.4083%0.5463%0.7175%0.9224%


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


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


Total Authorized but not Issued General Obligation Debt
















Installment Sales Purchases and Lease Obligations







--Enterprise$381,658 432,153 480,693 527,353 0 0


--General Government0 0 0 0 0 0


Total*$381,658 432,153 480,693 527,353 0 0


* The total only includes the contracts that require Local Government Commission approval.




Revenue Bond Debt $0 0 0 0 0 0


















Annual Financial Information Report Detail
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LineSectionDescription201120102009200820072006

Population at July 1st of the Previous Year Adjusted for Boundry Changes2,1762,0202,0372,0372,0382,027









1.5AFISCAL Governmental Activities Assets3,498,2063,675,1323,807,7303,751,5013,497,2313,089,769
1.5BSUMMARYGovernmental Activities Liabilities176,758120,586156,327138,679196,109191,637
3.5A
Business Type Activities Assets13,138,32713,495,26213,578,81413,998,16713,835,84513,991,040
3.5B
Business Type Activities Liabilties1,502,1121,690,5801,858,7752,197,8831,840,6612,060,095
6.5A
Fiduciary Funds Assets





6.5B
Fiduciary Funds Liabilties





10.0PART 2Current Collections of Unit -Wide Levy739,743733,543646,058639,015618,656622,181
11.0TAXCurrent Collections of Special Tax Districts

613


12.0REVENUESPrior Years' Levy Collections20,75322,59318,48915,16516,81216,447
13.0
Penalties and Interest4,0523,7134,8393,0332,5143,178
14.0
Collections of Taxes Previously Written Off





15.0
Animal Tax





15.1
Solid Waste Disposal Tax1,3581,414



16.0
1% Local Government Option Sales Tax178,414192,793158,182149,599151,741152,208
17.0
1/2% Local Government Option Sales Tax (40)63,51076,07183,27890,38791,23383,718
18.0
1/2% Local Government Option Sales Tax (42)57,59970,21882,51589,76690,60883,242
18.5
1/2% Local Government Option Sales Tax (44)-74013,92552,79671,57873,33277,587
19.0
Privilege Licenses5,3665,5455,4045,2786,1576,084
19.2
Privilege -- All other privileges and pemits



100200
20.0
Auto Licenses

52,37753,76844,57443,836
21.0
Vehicle Tax for Public Transportation





22.0
Other Licenses
1,7073,0853,66022,31829,132
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 - Federal9,2268,0647,2079,03510,6237,960
28.0INTERGOVEquitable Sharing of Fed. Forfeited Prop.

8,187


29.0REVENUESGeneral Government





30.0
Public Safety





31.0
Transportation - Streets19,38219,815



32.0
Transportation - All Other





33.0
Environmental Protection





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





35.0
Econ. & Phys. Dev. - All Other


70,888107,969943,181
36.0
Human Services: Health, Mental Hlt & Hosp





37.0
Human Services: All Other





38.0
Culture & Recreation





39.0STATEPayments In Lieu of Taxes - State





40.0INTERGOVUnauthorized Substance Tax





41.0REVENUESTransitional Hold Harmless12,88313,01316,821


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 Tax313,470283,023279,033278,844249,247229,387
45.0
Beer and Wine Tax8,9032,905551


46.0
Powell Bill76,73876,65786,52596,83386,64987,176
50.0
Court Fees - Facilities and Arrest Fees
1,3343,2121,1731,4721,362
51.0
General Government


38,009

52.0
Public Safety5227,8031,3206,4799,0091,462
53.0
Transportation - Streets





54.0
Transportation - All Other





55.0
Environmental Protection

36,91516,565160,652
56.0
Econ. & Phys. Dev. - Housing/Community Dev





57.0
Econ. & Phys. Dev. - All Other
149,548



58.0
Human Services -Health, Mental Health, Hosp





59.0
Human Services - All Other





60.0
Culture and Recreation

24,000


61.0LOCALPayments in Lieu of Taxes - Local





62.0INTERGOVGeneral Government




29,167
63.0REVENUESPublic Safety





64.0
Transportation - Streets





65.0
Transportation - All Other





66.0
Environmental Protection





67.0
Economic and Physical Development25,16417,66822,58016,01214,16614,977
68.0
Human Services - Health, Mental Hlt & Hosp





69.0
Human Services - All Other




3,332
70.0
Culture and Recreation




33,583
71.0PERMITS Building Permits





72.0& FEESInspection Fees





72.1
Amusements licensing and permit taxes





73.0
Other Permits





74.0SALES &Parking Revenues2,2755,2506,5755,67512,37512,785
75.0SERVICESRents and Royalties6,75014,2387,5257,4784,6505,875
76.0
Airport





77.0
Fire Protection Charges





78.0
Solid Waste31,39225,29025,47226,38727,02427,302
79.0
Ambulance and Rescue Squad Charges





80.0
Cemeteries8,4536,64013,31511,19910,7713,100
81.0
Recreation Service Revenues40,98033,32137,03435,31032,57633,133
82.0
Library Service Revenues





83.0
Other Cultural and Rec Service Revenues





84.0
Mass Transit - City Operated





85.0
Other Sales and Services2,4601,1211,1351,1671,3501,193
86.0UTILITYWater and Sewer Charges1,986,3281,938,9161,712,4401,758,0381,746,9841,520,960
87.0REVENUESElectric Charges





88.0
Gas Charges





88.1
Storm Water Fees





89.0MISC.Investment Earnings - Bond Proceeds





90.0REVENUESInvestment Earnings - All Other Funds4,70516,06332,232122,499152,03888,703
91.0
Special Assessments





92.0
Private Contributions and Donations





93.0
Sales of Materials and Fixed Assets12,4853001,6002,000615500
94.0
Sale of Real Property


8,503

95.0
Nongovt Contr For Streets & Traffic Signals





96.0
ABC Mixed Drink Surcharge





97.0
ABC Profit Distribution





98.0
Other Miscellaneous Revenues





99.0
Proceeds of Sale of Bonds and Notes





100.0
Proceeds of Capital Leases/Install Purchases22,252




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




33,464
106.0
Deposits Other than Utility





107.0
Prepaid Taxes




578
108.0
Prepaid Privilege Licenses




10
109APART 4Governing Body - Salaries & Wages15,36216,32615,04710,7309,6009,600
109BGENERALGoverning Body - Other Direct1,1747251,6461,5833,2073,419
109CGOVTGoverning Body - Construction





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





110A
Administration - Salaries & Wages151,888140,826132,475112,51395,170178,201
110B
Administration - Other Direct119,768122,190132,396158,929123,503119,041
110C
Administration - Construction





110D
Administration - Purchase of P,P&E24,623
11,849


111A
Elections - Salaries & Wages





111B
Elections - Other Direct
2,1443,3601,893
1,422
111C
Elections - Construction





111D
Elections - Purchase of P,P&E





112A
Finance - Salaries & Wages





112B
Finance - Other Direct





112C
Finance - Construction





112D
Finance - Purchase of P,P&E





113A
Taxes - Salaries & Wages





113B
Taxes - Other Direct





113C
Taxes - Construction





113D
Taxes - Purchase of P,P&E





114A
Legal - Salaries & Wages





114B
Legal - Other 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


99,497264,339
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 Wages540,639480,506469,636433,393407,844388,393
119BSAFETYPolice & Comm - Traffic Control - Other Direct74,86882,69177,11176,81464,84860,303
119C
Police & Comm - Traffic Control - Construction





119D
Police & Comm - Traffic Control - Purchase of P,P&E6,90125,22746,27826,47034,15616,111
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 Direct180,345172,485174,515143,654105,53399,005
122C
Fire - Construction
30,925



122D
Fire - Purchase of P,P&E

11,9507,695

123A
Inspectors - Salaries & Wages





123B
Inspectors - Other Direct13,13213,13213,13211,76319,71211,245
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 & Wages19,67229,80228,85561,903184,982158,817
128B
Streets and Highways - Other Direct79,36077,7899,4667,17235,480116,180
128C
Streets and Highways - Construction





128D
Streets and Highways - Purchase of P,P&E28,75215,50011,115
11,17820,865
129A
Street Cleaning - Salaries & Wages





129B
Street Cleaning - Other Direct





129C
Street Cleaning - Construction





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





130A
Powell Bill - Salaries & Wages
3,3496,46410,5299,817
130B
Powell Bill - Other Direct57,07347,69250,17512,64828,193123,954
130C
Powell Bill - Construction58,42050,520



130D
Powell Bill - Purchase of P,P&E11,8806,40099,449110,90871,935
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 Direct35,22438,27238,39835,62234,73133,492
136CPROTECTIONSolid Waste - Construction





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





137A
Drainage & Watershed - Salaries & Wages





137B
Drainage & Watershed - Other Direct





137C
Drainage & Watershed - Construction





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





138A
Cemeteries - Salaries & Wages





138B
Cemeteries - Other Direct14,99612,76512,35311,41212,57118,952
138C
Cemeteries - Construction





138D
Cemeteries - Purchase of P,P&E



51,820
139A
Environ. All Other - Salaries & Wages





139B
Environ. All Other - Other Direct





139C
Environ. All Other - Construction





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





140AECONOMICPlanning & Zoning - Salaries & Wages





140B& PHYSICALPlanning & Zoning - Other Direct





140CDEVELOPPlanning & Zoning - Construction





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





141A
Economic Development - Salaries & Wages





141B
Economic Development - Other Direct96,12964,53798,22995,404105,50042,000
141C
Economic Development - Construction





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





142A
Community Development - Salaries & Wages





142B
Community Development - Other Direct





142C
Community Development - Construction





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





143A
Housing & Urban Renewal - Salaries & Wages





143B
Housing & Urban Renewal - Other Direct





143C
Housing & Urban Renewal - Construction





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





144A
Special Empl Programs - Salaries & Wages





144B
Special Empl Programs - Other Direct





144C
Special Empl Programs - Construction





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





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





145B
Econ. Dev. All Other - Other Direct





145C
Econ. Dev. All Other - Construction





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





146AHUMANHealth - Salaries & Wages





146BSERVICESHealth - Other Direct





146C
Health - Construction





146D
Health - Purchase of P,P&E





147A
Mental Health - Salaries & Wages





147B
Mental Health - Other Direct





147C
Mental Health - Construction





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





148A
Social Services - Salaries & Wages





148B
Social Services - Other Direct





148C
Social Services - Construction





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





149B
Hospital-City - Other Direct





150B
Hospital-Private - Other Direct





151A
Legal Aid - Salaries & Wages





151B
Legal Aid - Other Direct





151C
Legal Aid - Construction





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





152A
Human Serv. All Other - Salaries & Wages





152B
Human Serv. All Other - Other Direct





152C
Human Serv. All Other - Construction





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





153ACULTURE Recreation & Parks - Salaries & Wages94,57594,86866,92083,08286,34792,843
153BRECREATIONRecreation & Parks - Other Direct63,41070,14470,15464,62061,88254,184
153C
Recreation & Parks - Construction





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

60,9133451,37073,307
154A
Coliseum - Salaries & Wages





154B
Coliseum - Other Direct





154C
Coliseum - Construction





154D
Coliseum - Purchase of P,P&E





155A
Museums - Salaries & Wages





155B
Museums - Other Direct





155C
Museums - Construction





155D
Museums - Purchase of P,P&E





156A
Libraries - Salaries & Wages





156B
Libraries - Other Direct71,24372,783



156C
Libraries - Construction





156D
Libraries - Purchase of P,P&E
5,600



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





157B
Cult. & Recr. All Other - Other Direct52,5002,5002,5002,0002,0001,860
157C
Cult. & Recr. All Other - Construction





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





158AUTILITYWater & Sewer - Salaries & Wages





158B
Water & Sewer - Other Direct 1,699,2301,567,0951,545,8601,582,7571,275,7121,038,498
158C
Water & Sewer - Construction271,674352,591286,195626,59851,330623,642
158D
Water & Sewer - Purchase of P,P&E11,5546,42563,59924,28324,28347,459
159A
Electric Power - Salaries & Wages





159B
Electric Power - Other Direct





159C
Electric Power - Construction





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





160A
Natural Gas - Salaries & Wages





160B
Natural Gas - Other Direct





160C
Natural Gas - Construction





160D
Natural Gas - Purchase of P,P&E





161.1A
Storm Water - Salaries & Wages





161.1B
Storm Water - Other Direct





161.1C
Storm Water - Construction





161.1D
Storm Water - Purchase of P,P&E





161BDEBTWater & Sewer - Interest & Fees58,43966,94079,83079,23176,88990,433
161DSERVICEWater & Sewer - Principal227,772219,271278,79738,335214,529193,484
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 & Fees3,143
22,22428,00028,00028,000
166D
All Other - Principal436




167BPENSIONDirect Benefit Program - Other Direct





168BFRINGEFringe Benefits Unallocated





169B
Separation Allowance - Law Enforcement13,73419,66219,66219,62219,66218,617
170B
Separation Allowance - Other Employees





171B
Supplemental Retirement - Law Enforcement18,22016,40416,42515,36213,98713,287
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

128,33968,62161,19060,928
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 vehicles719,616.701,810.00658,749.00647,064.00624,013.00627,084.00
180.0
Current year's levy -- Motor vehicles (only)47,256.60,450.0069,893.0071,171.0058,690.0060,088.00
181.0PART 6Uncollected Taxes - Current Year's Levy Except Mot Veh16,292.13,372.0012,691.008,049.005,537.004,903.00
182.0OTHERUncollected Taxes - CY Levy -Motor Vehicles10,83715,34517,51617,40314,11611,538
183.0DATAPercentage of Taxes Collected - All Property %96.4696.2395.8596.4697.1297.61
184.0DATAPercentage of Taxes Collected - Exclude Motor Vehicles%97.7498.0998.0798.7699.1199.22
185.0
Percentage of Taxes Collected - Motor Vehicles %77.0774.6274.9475.5575.9580.80
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 Other1,960,3232,398,5412,606,8703,052,6173,021,0212,934,499
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 Revenues3,654,4233,742,4913,431,3153,633,3433,746,2154,162,951
194BFISCALAmount - Subtract Refunding Bond Proceeds





194CSUMMARYAmount - Subtract Interfund Transfers In





194D
Amount - Net Revenues3,654,4233,742,4913,431,3153,633,3433,746,2154,162,951


Calculated amount3,654,4233,742,4913,431,3153,633,3433,746,2154,162,951


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference





195A
Amount - Total Expenditures4,116,1363,928,0864,085,3174,063,3883,591,3003,737,542
195B
Amount - Subtract Pymts. to Refunded Debt Agent





195C
Amount - Subtract Interfund Transfers Out





195D
Amount - Net Expenditures4,116,1363,928,0864,085,3174,063,3883,591,3003,737,542


Calculated amount4,116,1363,928,0864,085,3174,063,3883,591,3003,737,542


Amounts in AGREEMENT??YesYesYesYesYesYes


Difference














401APart 10Number of residential accounts billed Water



3,726
401BWater /Number of residential accounts billed Sewer



3,006
402ASewer Amount processed and/or purchased in units Water504529,877474539,341522,238
402BOperationsAmount processed and/or purchased in units Sewer97110,970107412,900430,500
403A
Total amount billed in units - Water237228,881239277,131300,525
403B
Total amount billed in units - Sewer155148,512144188,867190,834
404A
Of the total in 403A above how many units were Residential W7880,0608382,757104,506
404B
Of the total in 403B above how many units were Residential S4141,7584144,46954,243
405A
Of the total in 403 above, how many units were Outside Muni W



145,461
405B
Of the total in 403 above, how many units were Outside Muni S



74,251
406A
Of the total in 405A above how many units were Residential W



47,980
406B
Of the total in 405B above how many units were Residential S



17,865
407A
Of the total in 403A, how many units were sold for redistribution



3,078
407B
Of the total in 403B how many unit were delivered in bulk





408A
Dollars related to 403A above1,214,2811,171,2601,055,9901,019,0681,016,200
408B
Dollars related to 403B above766,371740,013624,224662,018693,459
409A
Dollars related to 404A above515,667516,414481,545432,857502,059
409B
Dollars related to 404B above207,907210,806185,454179,981197,632
410A
Dollars related to 405A above



732,328
410B
Dollars related to 405B above



375,034
411A
Dollars related to 406A above



350,335
411B
Dollars related to 406B above



78,533
412A
Dollars related to 407A above



11,202
412B
Dollars related to 407B above





421A
Number of residential accounts billed - Water1,7141,7281,7253,795

421B
Number of residential accounts billed - Sewer9409659452,278

422A
Number of non-residential & bulk accounts billed - Water278282283285

422B
Number of non-residential & bulk accounts billed - Sewer227235233237

423A
Estimated percentage of accounts outside of municipal limits
































950.0
OfficialDavid Lindsey

951.0
TitleFinance Officer

952.0
Date12/01/201111/05/201010/29/200910/30/200810/31/200710/30/2006
953.0
ContactDavid Lindsey

954.0
TitleFinance Officer

955.0
Phone828-765-3000




956.0
Fax828-765-3014




957.0
E-Mail:


















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Key Ratios and Operations Statistics of Water and Sewer Systems for



Town of Spruce Pine













201120102009200820072006








Population
2,1762,0202,0372,0372,0382,027
Population Group
No Electric 1,000 to 2,499 No Electric 1,000 to 2,499 No Electric 1,000 to 2,499 No Electric 1,000 to 2,499 No Electric 1,000 to 2,499 No Electric 1,000 to 2,499
Total Operating Revenues
$1,986,3281,938,9171,712,4401,758,0381,746,9851,520,960
Total Operating Revenues Per Capita
$913960841863857750
Group Weighted Average Revenues Per Capita540511491492485464
State Weighted Average Revenues Per Capita404384353365367356








% to Total Operating Revenues






Operating Expenses
105.48%100.05%112.78%110.58%93.94%89.66%
Group Weighted Average
98.67%103.53%104.32%100.84%98.61%97.18%
State Weighted Average
82.59%85.08%89.86%86.70%82.47%81.57%








Operating Margin
-5.48%-0.05%-12.78%-10.58%6.06%10.34%
Group Weighted Average
1.33%-3.53%-4.32%-0.84%1.39%2.82%
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
2.39%9.32%5.23%5.30%2.84%3.65%
State Weighted Average
0.85%1.71%1.26%1.45%1.20%1.83%








Operating Transfers Out
0.00%0.00%0.00%0.00%0.00%0.00%
Group Weighted Average
2.00%1.97%5.24%2.83%2.13%9.41%
State Weighted Average
1.89%1.79%2.55%3.08%1.94%2.63%








Net Income before capital contributions
-8.48%-3.35%-16.92%-11.93%3.39%5.99%
Group Weighted Average
-9.48%1.18%-23.75%1.30%-0.96%-2.72%
State Weighted Average
8.52%7.13%-10.44%7.19%11.65%9.59%








Key Ratios and Cash Flow














Quick Ratio
1.171.982.712.844.283.89
Group Weighted Average
3.563.373.102.843.253.58
State Weighted Average
3.483.202.812.962.902.82








Days Sales in Receivables
37.636.330.431.733.634.9
Group Weighted Average
46.851.444.147.945.844.0
State Weighted Average
54.458.958.655.260.057.8








Days Cash on Hand
57.7122.2148.8231.2329.6363.0
Group Weighted Average
358.6346.3349.2373.6497.2407.8
State Weighted Average
505.4465.8424.9457.2497.5457.2








Cash flow from Operations
$312,726342,346119,981232,608453,286346,747








Debt to Equity
0.110.130.150.170.150.16
Group Weighted Average
0.260.280.280.310.280.28
State Weighted Average
0.600.600.570.560.560.52








Debt per Capita
6117718721,009859970
Group Weighted Average
834871824898782740
State Weighted Average
1,2821,2531,1291,1391,101988








Capital Expenditures:
201120102009200820072006


$283,228359,016349,794650,88175,613671,101










2005200420032002



$1,270,968127,590253,4391,661,780









Capital Contributions: Excluded from income above
$0149,548209,53014,8314,951518,055
















Operating Statistics














Estimated population of the areas served Water00003,726NA
Estimated population of the areas served Sewer00003,006NA








Number of Gallons of Water Processed (000) omitted504529,877474539,341522,238NA
Number of Gallons of Sewage Processed (000) omitted97110,970107412,900430,500NA








Number of Gallons of Water Billed (000) omitted237228,881239277,131300,525NA
Number of Gallons of Sewage Billed (000) omitted155148,512144188,867190,834NA








Ratio of Water Billed to Water Processed0.470840.431950.504110.513830.57546NA
Ratio of Sewage Billed to Sewage Processed1.588531.338311.344660.457420.44328NA








Total Revenue from Water Sales1,214,2811,171,2601,055,9901,019,0681,016,200NA
Total Revenue from Sewage Sales766,371740,013624,224662,018693,459NA








Water Revenue per 1000 gallons of Sales




272.73215NA
Sewage Revenue per 1000 gallons of Sales




230.69162NA








Group Average Sales per thousand Gallons Water$0.00015$58.03901$27.87923$1,769.81984$14,046.04813NA
Group Average Sales per thousand Gallons Sewage$0.00021$70.05637$30.85954$824.88077$6,790.60081NA








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








Residential Water Sales per thousand Gallons$6,600.115196.450345,821.385405.230464.80412NA
Residential Sewage Sales per thousand Gallons$5,112.048195.048284,567.832514.047343.64346NA








Water Sales per thousand Gallons outside Municipal Limits



5.03453NA
Sewage Sales per thousand Gallons outside Municipal Limits



5.05089NA








Total Water Sales per thousand gallons for Redistribution$0.000000.000000.000000.0000011,202.00000NA
Total Sewage Sales per thousand gallons for Redistribution$0.000000.000000.000000.000000.00000NA




Financial Graphs and Comparisons


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Analysis of Available Fund Balance:  General Fund

20072008200920102011
Unit's FBA %97.74%122.34%103.10%106.05%88.68%
Group average FBA %65.48%62.45%66.05%66.79%64.14%
State average Electric/Non Electric Group FBA %37.39%36.66%37.89%38.70%41.07%
State average FBA %36.54%36.34%65.48%37.47%39.53%






Municipal Population Group: No Electric 1,000 to 2,499

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Analysis of Property Tax

20072008200920102011
Municipality97.12%96.46%95.85%96.23%96.46%
Pop. Group97.18%96.86%95.99%95.32%96.41%
Statewide97.58%97.56%97.34%97.35%97.42%






Municipal Population Group: No Electric 1,000 to 2,499






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Analysis of General Obligation Debt

20072008200920102011
Municipality859750636557435
Pop. Group294277265256236
Statewide478456455449450






Municipal Population Group: 1,000 to 2,499






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Analysis of Revenue

20072008200920102011
Property Tax$313323329376351
Utility857863841960913
Sales Tax199197183175138
Sales & Services4443454342
Intergovernmental314262239287214
Debt Proceeds000010
Other Miscellaneous11196471211
Total$1,8381,7841,6841,8531,679

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Analysis of Revenue for Fiscal 2011











2011
2011
CategoryRevenue
Per Capita
Property Tax$764,548
$351
Water/Sewer1,986,328
913
Electric0
0
Other Utilities0
0
Sales Tax298,783
138
Sales & Services92,310
42
Intergovernment466,288
214
Debt Proceeds22,252
10
Miscellaneous23,914
11
Total$3,654,423
$1,679





Municipal Population Group: No Electric 1,000 to 2,499





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Analysis of Expenditures by Function for Fiscal 2011











2011
2011
CategoryExpenditures
Per Capita
General Government$312,815
$144
Water/Sewer1,982,458
911
Electric0
0
Other Utilities0
0
Debt Service289,790
133
Transportation255,157
117
Public Safety847,839
390
Other428,077
197
Total$4,116,136
$1,892





Municipal Population Group: No Electric 1,000 to 2,499





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Analysis of Expenditures by Object for Fiscal 2011






2011
2011
CategoryExpenditures
Per Capita
Salaries & Wages$822,136
$378
Water/Sewer Capital283,228
130
Electric Capital0
0
Other Capital130,576
60
Other Operating2,880,196
1,324
Total$4,116,136
$1,892





Municipal Population Group: No Electric 1,000 to 2,499






Last Updated 6/15/2012 11:36:00 AM