| TOWN OF CARY, NORTH CAROLINA |
|
|
|
|
|
|
|
|
|
|
|
| UTILITY SYSTEMS
ENTERPRISE FUND |
|
|
|
|
|
|
|
|
|
|
|
| SUB-FUND
COMBINING STATEMENT OF REVENUES, EXPENSES, |
|
|
|
|
|
|
|
|
| AND CHANGES IN FUND NET
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
| For the Year Ended June
30, 2005 |
|
|
|
|
|
|
|
|
|
|
|
| With
Comparative Totals For the Year Ended June 30, 2004 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Schedule 9 |
|
|
|
|
|
|
|
|
|
|
|
|
Utility |
|
|
|
|
|
|
|
June 30, |
|
System |
|
Water |
|
Sewer |
|
Capital |
|
|
|
|
|
Operations |
|
Projects |
|
Projects |
|
Reserve |
|
2005 |
|
2004 |
| OPERATING REVENUES |
|
|
|
|
|
|
|
|
|
|
|
| Charges for Services |
$30,623,751 |
|
--- |
|
--- |
|
--- |
|
30,623,751 |
|
26,352,485 |
| Other Operating Revenues |
1,025,410 |
|
--- |
|
--- |
|
--- |
|
1,025,410 |
|
560,541 |
| Prop Oper Rev |
--- |
|
--- |
|
--- |
|
--- |
|
--- |
|
--- |
| Prop Oper Rev |
--- |
|
--- |
|
--- |
|
--- |
|
--- |
|
--- |
| Prop Oper Rev |
--- |
|
--- |
|
--- |
|
--- |
|
--- |
|
--- |
| TOTAL OPERATING REVENUES |
31,649,161 |
|
--- |
|
--- |
|
--- |
|
31,649,161 |
|
26,913,026 |
|
|
|
|
|
|
|
|
|
|
|
|
| OPERATING EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
| Administrative |
2,534,424 |
|
--- |
|
--- |
|
--- |
|
2,534,424 |
|
3,794,171 |
| Water Conservation |
252,157 |
|
--- |
|
--- |
|
--- |
|
252,157 |
|
283,430 |
| Pretreatment |
228,737 |
|
--- |
|
--- |
|
--- |
|
228,737 |
|
217,234 |
| Field Operations |
3,878,449 |
|
--- |
|
--- |
|
--- |
|
3,878,449 |
|
3,661,750 |
| Utility Systems
Maintenance |
1,526,612 |
|
--- |
|
--- |
|
--- |
|
1,526,612 |
|
1,419,298 |
| Water Reclamation
Facilities |
5,823,678 |
|
--- |
|
--- |
|
--- |
|
5,823,678 |
|
5,052,868 |
| Cary/Apex Water
Treatment Plant |
4,068,267 |
|
--- |
|
--- |
|
--- |
|
4,068,267 |
|
4,020,936 |
| Miscellaneous Utility
System Projects |
--- |
|
276,448 |
|
744,634 |
|
--- |
|
1,021,082 |
|
1,139,097 |
| Depreciation |
6,882,865 |
|
--- |
|
--- |
|
--- |
|
6,882,865 |
|
6,765,819 |
| Prop Oper Exp |
--- |
|
--- |
|
--- |
|
--- |
|
--- |
|
--- |
| Prop Oper Exp |
--- |
|
--- |
|
--- |
|
--- |
|
--- |
|
--- |
| TOTAL OPERATING EXPENSES |
25,195,189 |
|
276,448 |
|
744,634 |
|
--- |
|
26,216,271 |
|
26,354,603 |
|
|
|
|
|
|
|
|
|
|
|
|
| OPERATING INCOME (LOSS) |
6,453,972 |
|
(276,448) |
|
(744,634) |
|
--- |
|
5,432,890 |
|
558,423 |
|
|
|
|
|
|
|
|
|
|
|
|
| NONOPERATING REVENUES
(EXPENSES) |
|
|
|
|
|
|
|
|
|
|
|
| Water and Sewer
Development Fees |
--- |
|
--- |
|
--- |
|
6,969,836 |
|
6,969,836 |
|
8,155,359 |
| Investment Earnings, net
of market adjustment |
914,881 |
|
32,751 |
|
98,054 |
|
1,715,939 |
|
2,761,625 |
|
1,076,895 |
| Bond Proceeds |
--- |
|
--- |
|
--- |
|
--- |
|
--- |
|
--- |
| Restricted
Intergovernmental |
--- |
|
1,142,409 |
|
1,109,156 |
|
--- |
|
2,251,565 |
|
40,040 |
| Miscellaneous Revenue |
16,780 |
|
--- |
|
47,479 |
|
12,750 |
|
77,009 |
|
162,301 |
| Reimbursements |
--- |
|
--- |
|
--- |
|
--- |
|
--- |
|
200,000 |
| Prop Nonoper Rev |
--- |
|
--- |
|
--- |
|
--- |
|
--- |
|
--- |
| Interest Expense, net of
amount capitalized |
(3,826,197) |
|
--- |
|
--- |
|
--- |
|
(3,826,197) |
|
(3,994,371) |
| Bond Service Expense |
(155,290) |
|
--- |
|
--- |
|
--- |
|
(155,290) |
|
(56,742) |
| Bond Refunding Loss |
(65,218) |
|
--- |
|
--- |
|
--- |
|
(65,218) |
|
(35,338) |
| Developer Fee Credits Issued |
--- |
|
--- |
|
--- |
|
--- |
|
--- |
|
--- |
| Loss on Assets Retired |
(91,942) |
|
--- |
|
--- |
|
--- |
|
(91,942) |
|
10,815 |
| Prop Nonoper Exp |
--- |
|
--- |
|
--- |
|
--- |
|
--- |
|
--- |
| Prop Nonoper Exp |
--- |
|
--- |
|
--- |
|
--- |
|
--- |
|
--- |
| Prop Nonoper Exp |
--- |
|
--- |
|
--- |
|
--- |
|
--- |
|
--- |
| TOTAL NONOPERATING
REVENUE (EXPENSE) |
(3,206,986) |
|
1,175,160 |
|
1,254,689 |
|
8,698,525 |
|
7,921,388 |
|
5,558,959 |
|
|
|
|
|
|
|
|
|
|
|
|
| INCOME BEFORE TRANSFERS
AND CAPITAL |
|
|
|
|
|
|
|
|
|
|
|
| CONTRIBUTIONS |
3,246,986 |
|
898,712 |
|
510,055 |
|
8,698,525 |
|
13,354,278 |
|
6,117,382 |
|
|
|
|
|
|
|
|
|
|
|
|
| Capital Contributions |
687,687 |
|
--- |
|
--- |
|
--- |
|
687,687 |
|
1,227,812 |
| Transfers out (Prop) |
--- |
|
--- |
|
--- |
|
--- |
|
--- |
|
--- |
| Transfers In |
--- |
|
--- |
|
--- |
|
--- |
|
--- |
|
46,862 |
| Transfers Out |
--- |
|
--- |
|
--- |
|
--- |
|
--- |
|
--- |
| Transfers Between
Sub-Funds |
(900,000) |
|
1,789,408 |
|
1,580,825 |
|
(2,470,233) |
|
--- |
|
--- |
| Other (Prop) |
--- |
|
--- |
|
--- |
|
--- |
|
--- |
|
--- |
| Special items |
--- |
|
--- |
|
--- |
|
--- |
|
--- |
|
--- |
| Extraordinary items |
--- |
|
--- |
|
--- |
|
--- |
|
--- |
|
--- |
| CHANGE IN NET ASSETS |
3,034,673 |
|
2,688,120 |
|
2,090,880 |
|
6,228,292 |
|
14,041,965 |
|
7,392,056 |
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL NET ASSETS -
Beginning of Year |
173,529,420 |
|
28,022,882 |
|
52,976,866 |
|
28,936,745 |
|
283,465,913 |
|
276,073,857 |
|
|
|
|
|
|
|
|
|
|
|
|
| Reclassifications: |
|
|
|
|
|
|
|
|
|
|
|
| Reclassification of Long-term Debt |
--- |
|
--- |
|
|
|
--- |
|
--- |
|
--- |
| Reclassification of
Capital Assets Transferred from |
|
|
|
|
|
|
|
|
|
|
|
| Construction in Progress |
3,642,907 |
|
(3,642,907) |
|
--- |
|
--- |
|
--- |
|
--- |
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL NET ASSETS - End
of Year |
$180,207,000 |
|
27,068,095 |
|
55,067,746 |
|
35,165,037 |
|
297,507,878 |
|
283,465,913 |
|
|
|
|
|
|
|
|
|
|
|
|