TOWN OF CARY, NORTH CAROLINA
GARAGE INTERNAL SERVICE FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND NET ASSETS
BUDGET AND ACTUAL (NON-GAAP)
For the Year Ended June 30, 2007
With Comparative Totals For the Year Ended June 30, 2006
Schedule 17
2007 2006
Variance
Positive
Budget Actual (Negative)      Actual
REVENUES
  N.C. Gas Tax Refund $          --- --- --- ---
  Vehicle Maintenance & Repair $879,667 891,287 11,620 765,462
  Fuel Sales to Morrisville 140,172 93,869 (46,303) 2,000
  Investment Earnings, net of market adjustment 4,292 54,671 50,379 33,681
TOTAL REVENUES 1,024,131 1,039,827 15,696 801,143
EXPENDITURES
  Garage
    Personnel Services 653,480 613,582 39,898 575,353
    Operations & Maintenance 372,161 287,192 84,969 150,677
    Capital Outlays --- --- --- ---
TOTAL EXPENDITURES 1,025,641 900,774 124,867 726,030
    Revenues Over (Under) Expenditures (1,510) 139,053 140,563 75,113
OTHER FINANCING SOURCES
    Transfers Out --- --- --- ---
    Transfers In --- --- --- ---
    Proceeds from Sale of Assets --- 6,788 6,788 ---
    Appropriation from Fund Balance 1,510 --- (1,510) ---
    Reserved for Subsequent Years --- --- --- ---
          TOTAL  1,510 6,788 5,278 ---
    Revenues and Other Sources Over
           Expenditures $          --- 145,841 145,841 75,113
ADJUSTMENT TO ACCRUAL
  Add (Deduct)
    Capital Outlays --- ---
    Depreciation Expense (50,876) (58,928)
    Increase in Compensated Absences Liability (2,775) (1,357)
    Loss on Disposal of Capital Assets --- ---
TOTAL ACCRUAL ADJUSTMENTS (53,651) (60,285)
CHANGE IN NET ASSETS 92,190 14,828
NET ASSETS - Beginning of Year 2,270,980 2,256,152
NET ASSETS - End of Year $2,363,170 2,270,980