TOWN OF CARY, NORTH CAROLINA
WATER PROJECT SUB-FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND NET ASSETS
BUDGET AND ACTUAL (NON-GAAP)
From Inception To June 30, 2007
Schedule 11
  Actual  
Project Prior Current Total
Authorization Years Year To Date
REVENUES
County Grant $1,050,000 --- --- ---
State and Federal Grants             972,119 372,119 --- 372,119
Wake County Reimbursements                      -   --- --- ---
Investment Earnings             258,204 258,205 --- 258,205
Developer Reimbursement               47,150 --- 47,150 47,150
            Sub-total          2,327,473                    630,324               47,150             677,474
            Less:  Completed Projects           (372,119)                   (372,119) ---           (372,119)
TOTAL REVENUES          1,955,354                    258,205               47,150             305,355
EXPENDITURES
Asset-Related Projects
Annexation Water Lines - Greenwood Acres * WT5003 43,459 18,986 24,473 43,459
Annexation Water Lines - Hazelwood WT5013 95,000 --- --- ---
Annexation Water Lines - Hillsdale Forest * WT5002 360,466 360,466 --- 360,466
Annexation Water Lines - Summerwinds 1 & 2 WT5005 750,000 --- --- ---
Annexation Water Lines - Wild Weasel Way WT5014 115,000 --- --- ---
Annexation Water Lines - Windsor Oaks WT5006 760,000 --- --- ---
Annexation Water Lines - Main Project WT1094 1,792,078 --- (6,358) (6,358)
Arthur Pierce Rd. Water Line * WT1095 690,000 --- --- ---
Automated Meter Reading WT1123 3,100,000 --- 78,411 78,411
Cary Oaks/Oak Chase Water System Improvements WT1086 150,000 --- --- ---
Cary Towne Blvd. Elevated Tank WT1044 80,000 --- 2,000 2,000
Cross Connection Control WT1117 120,000 32,166 63,578 95,744
Crossroads Ground Level Tank WT1067 381,432 --- 381,432 381,432
Green Level Church Water Line - Phase 1 WT1128 151,000 --- --- ---
Green Level West Water Line - Phase 1 WT1129 187,000 --- --- ---
Hawes Water Line WT1144 50,000 --- --- ---
Holly Springs Rd. Water Line WT1054 1,653,000 --- --- ---
Holt Rd. Water Line Extension WT1143 71,775 --- 324 324
Kildaire Farm Rd. Water Line Reinforcement - South WT1107 490,000 --- --- ---
Kildaire Spheroid Tank WT1075 2,895,000 399,595 1,975,050 2,374,645
Large Valve Repair/Replacement FY2007 WT1130 200,000 --- --- ---
Lily Atkins Rd. Water Line WT1073 270,000 517 --- 517
Morrisville Pkwy. Water Line WT1124 63,536 --- --- ---
Morrisville - Large Water Meter Replacement
     FY2007		 WT1131 98,000 --- --- ---
Morrisville - Master Meter Installation WT1132 100,000 --- --- ---
Asset-Related Projects (cont'd)
Morrisville - Reclaimed Water Line
    Oversizings FY2007 *		 WT1134 $75,000 --- --- ---
Morrisville - Upgrade Water Line FY2007 WT1135 801,720 --- --- ---
N Harrison Elevated Water Tank WT1071 18,468 --- --- ---
N Harrison Water Line Relocation #2 * WT1146 64,615 --- 64,614 64,614
NC55 Water Line Extension - Phase 1 WT1087 670,000 424 --- 424
NC55 Water Line Extension - Phase 2 WT1097 1,660,000 9,372 66 9,438
NC55 Widening Water Lines - NCDOT WT1088 220,000 --- --- ---
Open Space Acquisition * WT1078 18,733,778 --- 2,704,852 2,704,852
Optimist Farm Rd. Water Line - West WT1089 310,000 24,206 952 25,158
Penny Rd. Water Line Connector WT1136 108,000 --- 3,339 3,339
Pierce Olive Rd. Water Line WT1098 1,070,000 25,111 1,235 26,346
Pressure Zone Control Valve WT1079 735,000 606,838 17,427 624,265
Reclaimed Water Line Oversizings FY2007 WT1137 97,700 --- --- ---
South Cary Water Tank WT1056 90,000 --- --- ---
Stephenson Rd. Water Line WT1109 600,000 --- --- ---
Ten-Ten Rd. Water Line West WT1104 700,000 --- 8,338 8,338
TCAP - Water Line Upgrades WT1120 165,000 --- --- ---
US1/64 Utility Relocation - Water WT1103 300,000 256,407 --- 256,407
West Lake Rd. Elevated Tank WT1068 100 100 --- 100
Water Line Relocation NCDOT U4026 WT1145 560,000 --- --- ---
Water Line Oversizings FY2007 * WT1139 97,700 --- --- ---
Water Line Upgrades FY2005 WT1114 182,400 --- --- ---
Water Line Upgrades FY2006 WT1121 191,500 --- --- ---
Water Line Upgrades FY2007 WT1138 396,000 --- --- ---
White Oak Church Rd. Tank WT1077 100,000 --- --- ---
Wimberly Rd. Water Line WT1142 240,000 --- --- ---
Water Treatment Plant Centrifuge Addition WT1105 1,593,000 458,061 608,076 1,066,137
Water Treatment Plant - Ozone Generator
   Cooling System		 WT1126 55,000 --- --- ---
Water Treatment Plant - Phase 2 Residuals
   Chemical Feed		 WT1125 1,359,000 --- 90 90
Water Treatment Plant Security System WT1090 400,000 140,901 2,520 143,421
Water Treatment Plant - Sodium Hypochlorite
   Tank		 WT1127 60,000 --- --- ---
       Less: Local Government Reimbursements           (797,410)                   (127,347)           (150,872)           (278,219)
            Total Expenditures        45,523,317                 2,205,803          5,779,547          7,985,350
            Less Completed Projects        (4,036,092)                   (379,452)        (2,793,939)        (3,173,391)
            Construction in Progress        41,487,225                 1,826,351          2,985,608          4,811,959
Expense Projects
Elevated Storage Tank Repainting - Ridgeview WT1118 $175,000 --- --- ---
Morrisville - Utility Merger Study WT1116 671,661 451,455 185,149 636,604
Morrisville -  Water Audit WT1133 100,000 --- --- ---
S. Wake Water Line/Penny Rd. Pump Station Study WT1113 75,000 --- --- ---
Water Line Replacement Prioritization Study * WT1140 60,000 --- --- ---
Water Quality Study * WT1106 250,000 146,767 87,092 233,859
Water Resource Planning & Management WT1070 1,024,620 262,238 167,808 430,046
Water System Master Plan WT1141 550,000 --- --- ---
       Less: Local Government Reimbursements (17,250) --- --- ---
            Total Expenditures          2,889,031                    860,460             440,049          1,300,509
            Less Completed Projects           (310,000)                   (146,767)             (87,092)           (233,859)
            Other Projects-in-Progress          2,579,031                    713,693             352,957          1,066,650
TOTAL EXPENDITURES        48,412,348                 3,066,263          6,219,596          9,285,859
      Total Completed Projects        (4,346,092)                   (526,219)        (2,881,031)        (3,407,250)
TOTAL PROJECT IN PROGRESS        44,066,256                 2,540,044          3,338,565          5,878,609
Revenues Under Expenditures      (42,110,902)                (2,281,839)        (3,291,415)        (5,573,254)
OTHER FINANCING SOURCES
 Revenue Bonds Issued $13,393,544 295,516 --- 295,516
 Sale of Capital Assets 829,036 --- 113,520 113,520
 Transfers In, net
       General Fund 46,862 46,862 --- 46,862
       Utility System Operations Sub-Fund 9,921,502 8,921,502 1,000,000 9,921,502
       Capital Reserve Sub-Fund 21,125,313 15,310,487 5,464,824 20,775,311
       Capital Reserve Sub-Fund - Debt Proceeds 768,619 768,619 --- 768,619
       Sub-Total        46,084,876               25,342,986          6,578,344        31,921,330
       Less:  Completed Projects        (3,973,974)                (4,281,214)             307,242        (3,973,972)
TOTAL OTHER FINANCING SOURCES        42,110,902               21,061,772          6,885,586        27,947,358
Increase ---               18,779,933          3,594,171        22,374,104
Adjustment for Closed Projects ---                 4,127,114        (4,127,114) ---
FUND BALANCE $          ---               22,907,047           (532,943)        22,374,104
Accrual Adjustment:
Construction-in-Progress Current Year 5,779,547
Construction-in-Progress Write-Off (115,274)
Grant Revenue Earned 1,208,612
Bond proceeds
CHANGE IN NET ASSETS 6,339,942
NET ASSETS - Beginning of Year 24,559,236
Reclassification Between Utility Sub-Funds (3,058,116)
NET ASSETS - End of Year $27,841,062