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| TOWN OF CARY, NORTH
CAROLINA |
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| UTILITY SYSTEM
OPERATIONS 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, 2005 |
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| With
Comparative Totals For the Year Ended June 30, 2004 |
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| Schedule 10 |
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2005 |
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2004 |
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Variance |
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Positive |
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|
Budget |
Actual |
(Negative) |
|
Actual |
| REVENUES |
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| Operating Revenues |
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| Charges for Services |
|
|
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|
| Water |
$16,621,837 |
16,555,711 |
(66,126) |
|
14,763,707 |
| Sewer |
14,150,165 |
14,895,238 |
745,073 |
|
12,369,032 |
| TOTAL CHARGES FOR
SERVICES |
30,772,002 |
31,450,949 |
678,947 |
|
27,132,739 |
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|
|
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| Other Operating Revenues |
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|
|
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| Connection Fees |
228,601 |
315,205 |
86,604 |
|
176,390 |
| Inspection Fees |
148,896 |
369,220 |
220,324 |
|
227,813 |
| Reconnection Fees |
34,616 |
46,014 |
11,398 |
|
31,518 |
| Pretreatment Program Fees |
136,370 |
106,653 |
(29,717) |
|
85,484 |
| Miscellaneous Revenues |
122,533 |
187,944 |
65,411 |
|
39,336 |
| TOTAL OTHER OPERATING
REVENUES |
671,016 |
1,025,036 |
354,020 |
|
560,541 |
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| TOTAL OPERATING REVENUES |
31,443,018 |
32,475,985 |
1,032,967 |
|
27,693,280 |
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| NON-OPERATING REVENUES |
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| Restricted Intergovernmental |
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| Federal Grant Proceeds |
--- |
--- |
--- |
|
40,040 |
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| Investment Earnings |
682,025 |
1,019,707 |
337,682 |
|
961,328 |
| Market Adjustment |
--- |
(114,941) |
(114,941) |
|
(370,151) |
| Investment Earnings, net |
682,025 |
904,766 |
222,741 |
|
591,177 |
| TOTAL REVENUES |
32,125,043 |
33,380,751 |
1,255,708 |
|
28,324,497 |
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| EXPENDITURES |
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| ADMINISTRATIVE |
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| Utility Administration |
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| Personnel Services |
607,022 |
591,942 |
15,080 |
|
554,036 |
| Operations & Maintenance |
139,296 |
111,110 |
28,186 |
|
113,340 |
| Capital Outlays |
--- |
--- |
--- |
|
--- |
| TOTAL |
746,318 |
703,052 |
43,266 |
|
667,376 |
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| Customer Accounting |
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| Personnel Services |
964,290 |
959,128 |
5,162 |
|
894,455 |
| Operations & Maintenance |
307,234 |
259,928 |
47,306 |
|
222,503 |
| Capital Outlays |
--- |
--- |
--- |
|
24,901 |
| TOTAL |
1,271,524 |
1,219,056 |
52,468 |
|
1,141,859 |
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| Administrative costs paid to General Fund |
1,573,208 |
1,573,208 |
--- |
|
1,556,140 |
| TOTAL ADMINISTRATIVE |
3,591,050 |
3,495,316 |
95,734 |
|
3,365,375 |
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| WATER CONSERVATION |
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| Personnel Services |
$247,844 |
231,801 |
16,043 |
|
236,002 |
| Operations & Maintenance |
74,115 |
25,058 |
49,057 |
|
46,640 |
| Capital Outlays |
--- |
--- |
--- |
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--- |
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| TOTAL WATER CONSERVATION |
321,959 |
256,859 |
65,100 |
|
282,642 |
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| PRETREATMENT |
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| Personnel Services |
214,696 |
214,697 |
(1) |
|
201,879 |
| Operations & Maintenance |
51,245 |
12,930 |
38,315 |
|
16,890 |
| Capital Outlays |
--- |
--- |
--- |
|
--- |
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| TOTAL PRETREATMENT |
265,941 |
227,627 |
38,314 |
|
218,769 |
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| FIELD OPERATIONS |
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| Water Distribution and Sewage Collection |
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| Personnel Services |
2,933,339 |
2,882,221 |
51,118 |
|
2,652,878 |
| Operations & Maintenance |
1,072,052 |
993,833 |
78,219 |
|
1,012,967 |
| Capital Outlays |
230,216 |
377,773 |
(147,557) |
|
416,933 |
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| TOTAL FIELD OPERATIONS |
4,235,607 |
4,253,827 |
(18,220) |
|
4,082,778 |
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| UTILITY SYSTEMS
MAINTENANCE |
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| Water and Sewer Pumping |
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| Personnel Services |
868,650 |
841,131 |
27,519 |
|
781,948 |
| Operations & Maintenance |
740,926 |
682,499 |
58,427 |
|
634,760 |
| Capital Outlays |
--- |
--- |
--- |
|
55,760 |
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| TOTAL UTILITY SYSTEMS
MAINTENANCE |
1,609,576 |
1,523,630 |
85,946 |
|
1,472,468 |
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| WATER RECLAMATION
FACILITIES |
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| North Cary Water Reclamation Facility |
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| Personnel Services |
1,034,742 |
1,025,059 |
9,683 |
|
932,281 |
| Operations & Maintenance |
3,447,910 |
2,346,584 |
1,101,326 |
|
1,864,989 |
| Capital Outlays |
15,295 |
14,812 |
483 |
|
46,134 |
| TOTAL |
4,497,947 |
3,386,455 |
1,111,492 |
|
2,843,404 |
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| South Cary Water Reclamation Facility |
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| Personnel Services |
1,055,468 |
1,021,285 |
34,183 |
|
955,194 |
| Operations & Maintenance |
1,586,059 |
1,422,965 |
163,094 |
|
1,281,941 |
| Capital Outlays |
6,300 |
6,161 |
139 |
|
--- |
| TOTAL |
2,647,827 |
2,450,411 |
197,416 |
|
2,237,135 |
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| TOTAL WATER RECLAMATION |
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| FACILITIES |
7,145,774 |
5,836,866 |
1,308,908 |
|
5,080,539 |
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| WATER TREATMENT PLANT |
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| Personnel Services |
$1,396,311 |
1,385,203 |
11,108 |
|
1,290,382 |
| Operations & Maintenance |
3,629,745 |
3,398,601 |
231,144 |
|
3,503,682 |
| Capital Outlays |
30,782 |
30,064 |
718 |
|
14,891 |
| Reimbursement from Apex |
(873,600) |
(734,539) |
(139,061) |
|
(780,765) |
| TOTAL WATER TREATMENT PLANT |
4,183,238 |
4,079,329 |
103,909 |
|
4,028,190 |
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| DEBT SERVICE |
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| Long-term Debt Principal Payment |
5,638,233 |
5,638,233 |
--- |
|
5,613,934 |
| Interest Expense |
4,899,158 |
4,711,224 |
187,934 |
|
4,286,049 |
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TOTAL DEBT SERVICE |
10,537,391 |
10,349,457 |
187,934 |
|
9,899,983 |
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| REVERSION |
(50,000) |
--- |
(50,000) |
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--- |
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| TOTAL EXPENDITURES |
31,840,536 |
30,022,911 |
1,817,625 |
|
28,430,744 |
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| Revenues Over(Under) Expenditures |
284,507 |
3,357,840 |
3,073,333 |
|
(106,247) |
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| OTHER REVENUES
(EXPENDITURES) |
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| Transfers Out, net |
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| Transfer to
General Fund, net |
--- |
--- |
--- |
|
--- |
| Transfer to
Sewer Project Sub-Fund |
--- |
--- |
--- |
|
--- |
| Transfer to Water Project Sub-Fund |
(900,000) |
(900,000) |
--- |
|
(1,000,000) |
| Transfer to
Utility System Capital Reserve Fund |
--- |
--- |
--- |
|
--- |
| Transfer to
Health Insurance Internal Service Fund |
--- |
--- |
--- |
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--- |
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| Bond Issuance Costs & Expenses |
(700,000) |
(66,653) |
633,347 |
|
(392,222) |
| Bond Proceeds |
700,000 |
--- |
(700,000) |
|
372,670 |
| Proceeds from Sale of Assets |
20,000 |
9,764 |
(10,236) |
|
44,680 |
| Miscellaneous Revenues |
14,322 |
16,780 |
2,458 |
|
48,841 |
| Reserve for Future
Capital Expenditures |
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| Reversion (PUT
ABOVE IN EXP) |
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| Appropriation from Fund Balance |
581,171 |
--- |
(581,171) |
|
--- |
| TOTAL OTHER EXPENDITURES |
(284,507) |
(940,109) |
(655,602) |
|
(926,031) |
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| Revenues Over(Under) Expenditures |
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| (Including Other Expenditures) |
$
--- |
2,417,731 |
2,417,731 |
|
(1,032,278) |
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| ADJUSTMENT TO ACCRUAL
BASIS |
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| Add (Deduct) |
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| Capital Outlays |
|
$421,895 |
|
|
567,434 |
| Decrease
in Compensated Absences Liability |
|
(29,314) |
|
|
(37,316) |
| Loss on Disposal of Assets |
|
(101,706) |
|
|
(33,865) |
| Issuance of long-term
debt |
|
--- |
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|
(372,670) |
| Long-term Debt Principal
Payment |
|
5,638,233 |
|
|
5,613,934 |
| Morrisville Interest
Adjustment |
|
--- |
|
|
191,970 |
| Bond Premium Amortization |
|
10,115 |
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|
10,115 |
| Bond Discount
Amortization |
|
(4,048) |
|
|
(675) |
| Deferred Bond Issue Costs |
|
(88,637) |
|
|
335,480 |
| Deferred Loss on
Refunding |
|
(65,218) |
|
|
(35,338) |
| Interest adjustments |
to be hidden |
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| Capitalized Interest |
|
707,381 |
|
|
346,556 |
| (Increase) Decrease Debt
Interest Payable |
|
181,694 |
|
|
(54,203) |
| Depreciation |
|
(6,882,865) |
|
|
(6,765,819) |
| Sewer Capacity Charges |
|
(827,198) |
|
|
(780,254) |
| Charge Refunds |
|
--- |
|
|
--- |
| Fee Credits Used |
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| Fee Credits Issued |
|
--- |
|
|
--- |
| Contributed Assets |
|
687,687 |
|
|
1,227,812 |
| Jordan Capacity Liability
Payment |
|
97,132 |
|
|
94,097 |
| Internal Service Funds
Internal (Profit)Loss |
|
205,999 |
|
|
(68,141) |
| Construction in Progress
write-off |
|
(9,582) |
|
|
--- |
| Water Contract Payment |
|
675,000 |
|
|
(475,000) |
| Contributed Assets |
|
--- |
|
|
--- |
| Transfer eliminations |
|
--- |
|
|
--- |
| Miscellaneous |
|
374 |
|
|
--- |
|
Change in Accounting Estimate due to increase |
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|
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| of
Capital Asset Threshold |
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|
|
--- |
| Total Accrual
Adjustment |
|
616,942 |
|
|
(235,883) |
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| CHANGE IN NET ASSETS |
|
3,034,673 |
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|
(1,268,161) |
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| NET ASSETS - Beginning of
Year |
|
173,529,420 |
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|
186,044,134 |
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| Reclassification Between
Utility Sub-Funds |
|
3,642,907 |
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|
(11,246,553) |
| NET ASSETS - End of Year |
|
$180,207,000 |
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|
173,529,420 |
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