| TOWN OF CARY, NORTH CAROLINA | ||||
| WATER PROJECT SUB-FUND | ||||
| SCHEDULE OF REVENUES, EXPENDITURES, AND | ||||
| CHANGES IN FUND NET ASSETS | ||||
| BUDGET AND ACTUAL (NON-GAAP) | ||||
| From Inception To June 30, 2005 | ||||
| Schedule 11 | ||||
| Actual | ||||
| Project | Prior | Current | Total | |
| Authorization | Years | Year | To Date | |
| REVENUES | ||||
| County Grant | $350,000 | --- | --- | --- |
| State and Federal Grants | 1,084,000 | --- | --- | --- |
| Wake County Reimbursement | 200,000 | 200,000 | --- | 200,000 |
| Investment Earnings | 75,000 | 301,748 | 32,751 | 334,500 |
| Sub-total | 1,709,000 | 501,748 | 32,751 | 534,500 |
| Less: Completed Projects | (200,000) | (200,000) | --- | (200,000) |
| TOTAL REVENUES | 1,509,000 | 301,748 | 32,751 | 334,500 |
| EXPENDITURES | ||||
| Asset-Related Projects: | ||||
| Annexation Water Lines - Frostwood Dr. | 129,806 | --- | 122,413 | 122,413 |
| Annexation Water Lines - Greenwood Acres | 522,000 | --- | --- | --- |
| Annexation Water Lines - Hillsdale Forest | 600,000 | --- | 48,998 | 48,998 |
| Annexation Water Lines - Larkwood Ln. | 350,000 | --- | 34,150 | 34,150 |
| Annexation Water Lines - Logan Rd. | 21,000 | --- | 17,320 | 17,320 |
| Annexation Water Lines - Summerwinds 1 & 2 | 750,000 | --- | --- | --- |
| Annexation Water Lines - Triangle Forest | 384,719 | --- | 135,328 | 135,328 |
| Annexation Water Lines - Windsor Oaks | 760,000 | --- | --- | --- |
| Annexation Water Lines - Main Project | 982,475 | 71,653 | (71,653) | --- |
| Arthur Pierce Rd. Water Line | 690,000 | --- | --- | --- |
| Carpenter Water Tank | 2,504,029 | 2,430,513 | --- | 2,430,513 |
| Cary Oaks/Oak Chase Water System Improvements | 150,000 | --- | --- | --- |
| Cary Town Blvd. Elevated Tank | 80,000 | --- | --- | --- |
| Crossroads Ground Level Tank | 100,000 | --- | --- | --- |
| Green Level Church Rd. Water Meter Vault | 385,000 | --- | --- | --- |
| High House Rd. Elevated Tank | 100,000 | --- | --- | --- |
| Holly Springs Rd. Water Line | 1,653,000 | --- | --- | --- |
| Kildaire
Farm Road Water Line Reinforcement South |
490,000 | --- | --- | --- |
| Kildaire Spheroid Tank | 1,795,000 | 91,812 | 139,471 | 231,282 |
| Lily Atkins Rd. Water Line | 270,000 | --- | --- | --- |
| N. Harrison Elevated Water Tank | 100,000 | --- | --- | --- |
| N. Harrison Water Line Relocation | 137,000 | 15,349 | --- | 15,349 |
| NC55 Water Line Extention - Phase I | 670,000 | 424 | --- | 424 |
| NC55 Water Line Extention - Phase II | 1,660,000 | --- | --- | --- |
| NC55 Widening Water Lines - NCDOT | 220,000 | --- | --- | --- |
| Normandy St. Water Line Replacement | 332,145 | --- | 85,322 | 85,322 |
| Open Space Acquisition * | 6,133,981 | --- | 817,358 | 817,358 |
| Optimist Farm Rd. Water Line - West | 310,000 | 24,125 | --- | 24,125 |
| Panther Creek School Water Line Extension * | 500,000 | 284,309 | 101,601 | 385,910 |
| Asset-Related Projects (cont'd): | ||||
| Pierce Olive Rd. Water Line | $1,070,000 | 6,880 | 3,220 | 10,101 |
| Pleasant Grove Church Rd. Water Line | 220,000 | --- | 208,102 | 208,102 |
| Plumtree Way Elevated Tank * | 2,885,000 | 2,177,249 | 38,154 | 2,215,403 |
| Pressure Zone Control Valve | 610,000 | 394,426 | 120,060 | 514,486 |
| Reclaimed Water Line Oversizings FY2005 * | 88,500 | --- | --- | --- |
| Reclaimed Water System * | 149,642 | --- | 6,818 | 6,818 |
| South Cary Water Tank | 90,000 | --- | --- | --- |
| Stephenson Rd. Water Line | 600,000 | --- | --- | --- |
| Ten-Ten Rd. Water Line - West | 700,000 | --- | --- | --- |
| Upgrade Water Lines FY2003 * | 143,035 | 61 | 140,763 | 140,823 |
| US1/64 Utility Relocation - Water | 300,000 | --- | 256,407 | 256,407 |
| Water Line Oversizings FY2005 * | 88,500 | --- | --- | --- |
| Water Line Upgrades FY2002 * | 171,420 | 21,920 | 145,032 | 166,952 |
| Water Line Upgrades FY2005 | 182,400 | --- | --- | --- |
| Water Tank SCADA | 522,000 | 310,855 | 177,457 | 488,312 |
| Water Treatment Plant Centrifuge Addition | 1,593,000 | --- | 53,429 | 53,429 |
| West Lake Rd. Elevated Tank | 100,000 | --- | 100 | 100 |
| White Oak Church Rd. Tank | 100,000 | --- | --- | --- |
| WTP Security System | 400,000 | 14,453 | 51,120 | 65,573 |
| Less: Local Government Reimbursements | (578,450) | (71,440) | (58,529) | (129,969) |
| Total Expenditures | 32,215,202 | 5,772,590 | 2,572,440 | 8,345,030 |
| Less Completed Projects | (4,843,454) | (2,483,539) | (1,249,725) | (3,733,264) |
| Construction in Progress | 27,371,748 | 3,289,051 | 1,322,714 | 4,611,765 |
| Expense Projects | ||||
| Magnetic Flow Water Meter Replacement * | 120,000 | 31,163 | --- | 31,163 |
| Reclaimed Water System * | 42,556 | --- | 9,481 | 9,481 |
| S. Wake Water Line/Penny Rd. Pump Station Study | 75,000 | --- | --- | --- |
| Utility Merger Study - Morrisville | 337,000 | --- | 91,530 | 91,530 |
| Water Quality Study | 250,000 | 37,400 | 58,973 | 96,374 |
| Water Resource Planning & Management | 824,620 | 171,644 | 4,619 | 176,263 |
| Water Treatment Plant Capacity/Re-rating Study | 350,000 | 220,486 | 27,905 | 248,391 |
| Less: Local Government Reimbursements | (157,750) | (50,712) | (6,418) | (57,130) |
| Total Expenditures | 1,841,426 | 409,982 | 186,090 | 596,072 |
| Less Completed Projects | (102,556) | (31,163) | (9,481) | (40,644) |
| Other Projects-in-Progress | 1,738,870 | 378,819 | 176,609 | 555,428 |
| TOTAL EXPENDITURES | $34,056,628 | 6,182,572 | 2,758,530 | 8,941,102 |
| Total Completed Projects | (4,946,010) | (2,514,702) | (1,259,206) | (3,773,908) |
| TOTAL PROJECT IN PROGRESS | 29,110,618 | 3,667,870 | 1,499,324 | 5,167,194 |
| Revenues Under Expenditures | (27,601,618) | (3,366,122) | (1,466,572) | (4,832,694) |
| OTHER FINANCING SOURCES: | ||||
| Bond Proceeds | 5,754,500 | 5,644,500 | --- | 5,644,500 |
| Transfers In, net | ||||
| General Fund | 46,862 | 46,862 | --- | 46,862 |
| Utility System Operations Sub-Fund | 8,953,119 | 8,153,120 | 900,000 | 9,053,120 |
| Capital Reserve Sub-Fund | 16,375,997 | 14,781,636 | 788,855 | 15,570,491 |
| Capital Reserve Sub-Fund - Debt Proceeds | 1,117,150 | 300,000 | 100,553 | 400,553 |
| Appropriation from Fund Balance | 100,000 | --- | --- | --- |
| Sub-Total | 32,347,628 | 28,926,118 | 1,789,408 | 30,715,526 |
| Less: Completed Projects | (4,746,010) | (4,727,455) | 1,153,546 | (3,573,909) |
| TOTAL OTHER FINANCING SOURCES | 27,601,618 | 24,198,663 | 2,942,954 | 27,141,617 |
| Increase | 20,832,541 | 1,476,382 | 22,308,923 | |
| Adjustment for Closed Projects | 2,412,753 | (2,412,753) | --- | |
| FUND BALANCE | $ --- | 23,245,294 | (936,371) | 22,308,923 |
| Accrual Adjustment: | ||||
| Construction in Progress Current Year | 2,572,440 | |||
| Construction In Progress Write-Off | (90,358) | |||
| Grant Revenue Earned | 1,142,409 | |||
| Bond proceeds | ||||
| CHANGE IN NET ASSETS | 2,688,120 | |||
| NET ASSETS - Beginning of Year | 28,022,882 | |||
| Reclassification Between Utility Sub-Fund | (3,642,907) | |||
| NET ASSETS - End of Year | $27,068,095 | |||