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, 2005
With Comparative Totals For the Year Ended June 30, 2004
Schedule 17
2005 2004
Variance
Positive
Budget Actual (Negative)      Actual
REVENUES
  N.C. Gas Tax Refund $          --- --- --- ---
  Vehicle Maintenance & Repair $632,109 675,130 43,021 587,356
  Investment Earnings, net of market adjustment 23,909 20,372 (3,537) 7,198
TOTAL REVENUES 656,018 695,502 39,484 594,554
EXPENDITURES
  Garage
    Personnel Services 601,583 601,582 1 565,428
    Operations & Maintenance 180,572 157,040 23,532 161,228
    Capital Outlays 19,400 19,309 91 ---
TOTAL EXPENDITURES 801,555 777,931 23,624 726,656
    Revenues Under Expenditures (145,537) (82,429) 63,108 (132,102)
OTHER FINANCING SOURCES
    Transfers Out --- --- --- ---
    Transfers In --- --- --- ---
    Proceeds from Sale of Assets --- 5,834 5,834 ---
    Appropriation from Fund Balance 145,537 --- (145,537) ---
    Reserved for Subsequent Years --- --- --- ---
          TOTAL  145,537 5,834 (139,703) ---
    Revenues and Other Sources Under
           Expenditures $          --- (76,595) (76,595) (132,102)
ADJUSTMENT TO ACCRUAL
  Add (Deduct)
    Capital Outlays 19,309 ---
    Depreciation Expense (63,001) (70,493)
    Capital Contributions 1,647 12,945
    Increase in Compensated Absences Liability (3,697) (1,116)
    Loss on Disposal of Capital Assets (11,664) ---
TOTAL ACCRUAL ADJUSTMENTS (57,406) (58,664)
Change in Net Assets (134,001) (190,766)
NET ASSETS - Beginning of Year 2,390,153 2,580,919
NET ASSETS - End of Year $2,256,152 2,390,153