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| TOWN OF CARY, NORTH
CAROLINA |
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| UTILITY SYSTEM
CAPITAL RESERVE SUB-FUND |
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| SCHEDULE OF
REVENUES, EXPENDITURES, AND CHANGES IN FUND NET ASSETS |
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| BUDGET AND ACTUAL
(NON-GAAP) |
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| For the Year Ended June
30, 2007 |
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| With
Comparative Totals For the Year Ended June 30, 2006 |
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| Schedule 13 |
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2007 |
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2006 |
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Variance |
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Positive |
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Budget |
Actual |
(Negative) |
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Actual |
| REVENUES |
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| Water Development Fees |
$5,376,605 |
7,559,520 |
2,182,915 |
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7,002,518 |
| Sewer Development Fees |
6,688,254 |
8,362,886 |
1,674,632 |
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8,633,450 |
| Acreage Fees -
Water |
--- |
--- |
--- |
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--- |
| Acreage Fees -
Sewer |
--- |
--- |
--- |
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--- |
| Investment Earnings, net of market
adjustment |
2,703,795 |
5,056,816 |
2,353,021 |
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2,522,659 |
| Restricted
Intergovernmental Revenue |
--- |
--- |
--- |
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--- |
| Miscellaneous |
--- |
6,110 |
6,110 |
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52,616 |
| TOTAL REVENUES |
14,768,654 |
20,985,332 |
6,216,678 |
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18,211,243 |
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| OTHER FINANCING SOURCES (USES) |
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| Transfers Out, net |
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| Transfer to Water Project Sub-Fund |
(5,464,824) |
(4,525,983) |
938,841 |
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(1,607,208) |
| Transfer to Sewer Project Sub-Fund |
(17,311,249) |
(14,104,386) |
3,206,863 |
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(6,300,344) |
| Transfer from Utility System
Operations |
623,713 |
--- |
(623,713) |
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--- |
| Transfer from
General Fund |
--- |
--- |
--- |
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--- |
| Bond Proceeds |
--- |
--- |
--- |
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--- |
| Sale of Capital Assets |
--- |
--- |
--- |
|
102,300 |
| Appropriation to Fund Balance |
7,383,706 |
--- |
(7,383,706) |
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--- |
| Reserve for
Future Capital Needs |
--- |
--- |
--- |
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--- |
| TOTAL OTHER FINANCING USES |
(14,768,654) |
(18,630,369) |
(3,861,715) |
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(7,805,252) |
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| Revenues Over Other
Financing Uses |
$ --- |
2,354,963 |
2,354,963 |
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10,405,991 |
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| ADJUSTMENT TO ACCRUAL: |
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| Add |
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| Development Fee Credits Used |
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911,365 |
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904,591 |
| Decrease
Arbitrage Liability |
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--- |
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--- |
| Long-Term Debt
Proceeds |
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--- |
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--- |
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| Total
Accrual Adjustments |
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911,365 |
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904,591 |
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| CHANGE IN NET ASSETS |
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3,266,328 |
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11,310,582 |
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| NET ASSETS - Beginning
of Year |
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46,475,619 |
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35,165,037 |
| NET ASSETS - End of Year |
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$49,741,947 |
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46,475,619 |
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