| TOWN OF CARY, NORTH CAROLINA |
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| STATEMENT OF
REVENUES, EXPENSES, AND CHANGES IN FUND NET ASSETS |
| PROPRIETARY FUNDS |
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| For the Year Ended June
30, 2007 |
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| EXHIBIT M |
Utility Systems |
|
Governmental |
|
Enterprise |
|
Activities - |
|
Fund |
|
Internal Service Funds |
| OPERATING REVENUES |
|
|
|
| Charges for Services |
$42,635,589 |
|
985,156 |
| Health and Dental
Premiums |
--- |
|
9,045,579 |
| Other Operating Revenues |
1,903,886 |
|
--- |
| Prop Oper Rev |
--- |
|
--- |
| Prop Oper Rev |
--- |
|
--- |
| TOTAL OPERATING REVENUES |
44,539,475
|
|
10,030,735
|
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| OPERATING EXPENSES |
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| Administrative |
4,182,558 |
|
--- |
| Water Conservation |
307,765 |
|
--- |
| Pretreatment |
334,947 |
|
--- |
| Field Operations |
5,343,247 |
|
--- |
| Utility Systems
Maintenance |
2,062,541 |
|
--- |
| Prop Oper Exp |
--- |
|
--- |
| Water Reclamation
Facilities |
7,859,560 |
|
--- |
| Cary/Apex Water
Treatment Plant |
3,934,172 |
|
--- |
| Miscellaneous Utility
System Projects |
1,316,740 |
|
--- |
| Prop Oper Exp |
--- |
|
--- |
| Garage Services |
--- |
|
903,549 |
| Insurance Claims &
Administrative Fees |
--- |
|
7,536,177 |
| Prop Oper Exp |
--- |
|
--- |
| Depreciation |
8,847,248 |
|
50,876 |
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| TOTAL OPERATING EXPENSES |
34,188,778
|
|
8,490,602
|
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|
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| OPERATING INCOME |
10,350,697
|
|
1,540,133
|
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| NONOPERATING REVENUES
(EXPENSES) |
|
|
|
| Water and Sewer
Development Fees |
16,833,771 |
|
--- |
| Investment Earnings, net
of market adjustment |
7,313,154 |
|
54,671 |
| NC Gas Tax Refund |
--- |
|
--- |
| Bond Proceeds |
--- |
|
--- |
| Restricted
Intergovernmental Revenue |
1,208,612 |
|
--- |
| Miscellaneous Revenue |
74,519 |
|
446,566 |
| Reimbursements |
110,450 |
|
--- |
| Prop Nonoper Rev |
--- |
|
--- |
| Prop Nonoper Rev |
--- |
|
--- |
| Interest Expense, net of
amount capitalized |
(3,859,029) |
|
--- |
| Bond Service Expense |
(76,015) |
|
--- |
| Bond Refunding Loss |
(78,135) |
|
--- |
| Developer Fee Credits Issued |
--- |
|
--- |
| Sale of Capital Assets |
147,393 |
|
6,788 |
| Morrisville Agreement |
--- |
|
--- |
| Prop Nonoper Exp |
--- |
|
--- |
| Prop Nonoper Exp |
--- |
|
--- |
| TOTAL NONOPERATING
REVENUE |
21,674,720
|
|
508,025
|
|
|
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| INCOME BEFORE CAPITAL
CONTRIBUTIONS |
$32,025,417
|
|
2,048,158
|
|
|
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| Capital Contributions |
7,338,173 |
|
--- |
| Transfers In |
--- |
|
--- |
| Transfers Out |
--- |
|
--- |
| Sub-fund
transfers HIDE s/b $0 |
--- |
|
--- |
| Other (Prop) |
--- |
|
--- |
| Capital contributions |
--- |
|
--- |
| Special items |
--- |
|
--- |
| Extraordinary items |
--- |
|
--- |
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| CHANGE IN NET ASSETS |
39,363,590
|
|
2,048,158
|
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| TOTAL NET ASSETS -
Beginning of Year |
373,671,405 |
|
6,422,615 |
|
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| TOTAL NET ASSETS - End of
Year |
$413,034,995
|
|
8,470,773 |
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| The
accompanying notes are an integral part of these basic financial statements. |
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