TOWN OF CARY, NORTH CAROLINA
BALANCE SHEET
GOVERNMENTAL FUNDS
June 30, 2005
EXHIBIT C	Major Funds				Non-Major Funds Reported as Major Funds
			Capital		Amphitheatre		Transit		911		CDBG		Police		Total
	General		Projects		Special		Special		Special		Special		Special		Governmental
	Fund		Fund		Revenue Fund		Revenue Fund		Revenue Fund		Revenue Fund		Revenue Fund		Funds
ASSETS
UNRESTRICTED ASSETS
Equity in Pooled Cash and Investments	$61,728,087		68,782,830		523,371		231,199		---		207		---		131,265,694
Accrued Interest on Investments	359,766		432,360		---		---		---		---		---		792,126
Ad Valorem Taxes Receivable, net of allowance for        doubtful accounts	311,445		---		---		---		---		---		---		311,445
Accounts Receivable, net of allowance for        doubtful accounts	8,349,791		436,278		592		856,573		27,148		---		---		9,670,382
Asset	---		---		---		---		---		---		---		---
Asset	---		---		---		---		---		---		---		---
Inventories	550,029		---		---		---		---		---		---		550,029
Other Assets	8,101		---		31,693		---		---		---		---		39,794
Due from CDBG Special Revenue Fund	34,000		---		---		---		---		---		---		34,000
TOTAL UNRESTRICTED ASSETS	71,341,219		69,651,468		555,656		1,087,772		27,148		207		---		142,663,470
RESTRICTED ASSETS
Equity in Pooled Cash and Investments
Unspent Debt Proceeds	---		7,545,600		---		---		---		---		---		7,545,600
Unspent Restricted Grants	71		13,637,378		---		---		---		---		---		13,637,449
Customer Deposits	861,302		---		---		---		---		---		---		861,302
Other Restricted Funds	---		---		---		---		98,870		---		---		98,870
TOTAL RESTRICTED ASSETS	861,373		21,182,978		---		---		98,870		---		---		22,143,221
TOTAL ASSETS	72,202,592		90,834,446		555,656		1,087,772		126,018		207		---		164,806,691
LIABILITIES AND FUND BALANCES
LIABILITIES
Accounts Payable	5,625,968		5,223,889		5,038		251,764		---		---		---		11,106,659
Retainage Payable	---		4,184,846		---		---		---		---		---		4,184,846
Deferred Revenues	525,550		348,718		---		---		---		---		---		874,268
Deposits	441,200		---		---		---		---		---		---		441,200
Liability	---		---		---		---		---		---		---		---
Liability	---		---		---		---		---		---		---		---
Due to General Fund	---		---		---		---		---		34,000		---		34,000
TOTAL LIABILITIES	6,592,718		9,757,453		5,038		251,764		---		34,000		---		16,640,973
FUND BALANCES
Reserved:
Reserved for Inventories	550,030		---		---		---		---		---		---		550,030
Reserved by State Statute	8,726,542		559,858		32,285		856,573		27,148		---		---		10,202,406
Reserved for Encumbrances	2,032,390		---		517,760		20,000		---		---		---		2,570,150
Reserved for Streets - Powell Bill	---		13,637,378		---		---		---		---		---		13,637,378
Reserved for Federal Block Grant	---		---		---		---		---		---		---		---
Reserved for Restricted 911 Funds	---		---		---		---		98,870		---		---		98,870
Unreserved, Designated:
Designated - Self Insurance	284,449		---		---		---		---		---		---		284,449
Designated - Affordable Housing Program	1,853,266		---		---		---		---		---		---		1,853,266
Designated for Capital Projects	---		60,543,647		---		---		---		---		---		60,543,647
Designated for Subsequent Year's Expenditures	4,850,713		434,652		---		---		---		---		---		5,285,365
Fund Balance - unreserved - designated	---		---		---		---		---		---		---		---
Unreserved, Undesignated	47,312,484		5,901,458		---		---		---		---		---		53,213,942
Unreserved, reported in nonmajor:
Special Revenue	---		---		573		(40,565)		---		(33,793)		---		(73,785)
TOTAL FUND BALANCES	65,609,874		81,076,993		550,618		836,008		126,018		(33,793)		---		148,165,718
TOTAL LIABILITIES AND FUND BALANCES	$72,202,592		90,834,446		555,656		1,087,772		126,018		207		---		164,806,691
The accompanying notes are an integral part of these basic financial statements.