| TOWN OF CARY, NORTH CAROLINA |
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| STATEMENT OF
REVENUES, EXPENSES, AND CHANGES IN FUND NET ASSETS |
| PROPRIETARY FUNDS |
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| For the Year Ended June
30, 2005 |
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| EXHIBIT M |
Utility Systems |
|
Governmental |
|
Enterprise |
|
Activities - |
|
Fund |
|
Internal Service Funds |
| OPERATING REVENUES |
|
|
|
| Charges for Services |
$30,623,751 |
|
675,130 |
| Health and Dental
Premiums |
--- |
|
8,345,716 |
| Other Operating Revenues |
1,025,410 |
|
--- |
| Prop Oper Rev |
--- |
|
--- |
| Prop Oper Rev |
--- |
|
--- |
| TOTAL OPERATING REVENUES |
31,649,161 |
|
9,020,846 |
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| OPERATING EXPENSES |
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| Administrative |
2,534,424 |
|
--- |
| Water Conservation |
252,157 |
|
--- |
| Pretreatment |
228,737 |
|
--- |
| Field Operations |
3,878,449 |
|
--- |
| Utility Systems
Maintenance |
1,526,612 |
|
--- |
| Prop Oper Exp |
--- |
|
--- |
| Water Reclamation
Facilities |
5,823,678 |
|
--- |
| Cary/Apex Water Treatment
Plant |
4,068,267 |
|
--- |
| Prop Oper Exp |
--- |
|
--- |
| Garage Services |
--- |
|
762,319 |
| Insurance Claims &
Administrative Fees |
--- |
|
7,043,456 |
| Miscellaneous Utility
System Projects |
1,021,082 |
|
--- |
| Prop Oper Exp |
--- |
|
--- |
| Depreciation |
6,882,865 |
|
63,001 |
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| TOTAL OPERATING EXPENSES |
26,216,271 |
|
7,868,776 |
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| OPERATING INCOME |
5,432,890 |
|
1,152,070 |
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| NONOPERATING REVENUES
(EXPENSES) |
|
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|
| Water and Sewer
Development Fees |
6,969,836 |
|
--- |
| Investment Earnings, net
of market adjustment |
2,761,625 |
|
20,372 |
| NC Gas Tax Refund |
--- |
|
--- |
| Bond Proceeds |
--- |
|
--- |
| Restricted
Intergovernmental |
2,251,565 |
|
--- |
| Miscellaneous Revenue |
77,009 |
|
99,360 |
| Reimbursements |
--- |
|
--- |
| Prop Nonoper Rev |
--- |
|
--- |
| Prop Nonoper Rev |
--- |
|
--- |
| Interest Expense, net of
amount capitalized |
(3,826,197) |
|
--- |
| Bond Service Expense |
(155,290) |
|
--- |
| Bond Refunding Loss |
(65,218) |
|
--- |
| Developer Fee Credits Issued |
--- |
|
--- |
| Loss on Assets Retired |
(91,942) |
|
(5,830) |
| Prop Nonoper Exp |
--- |
|
--- |
| Prop Nonoper Exp |
--- |
|
--- |
| Prop Nonoper Exp |
--- |
|
--- |
| TOTAL NONOPERATING
REVENUE |
7,921,388 |
|
113,902 |
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| INCOME BEFORE CAPITAL
CONTRIBUTIONS |
13,354,278 |
|
1,265,972 |
|
|
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| Capital Contributions |
687,687 |
|
1,647 |
| Transfers out (Prop) |
--- |
|
--- |
| Transfers In |
--- |
|
--- |
| Transfers Out |
--- |
|
--- |
| Sub-fund
transfers HIDE s/b $0 |
--- |
|
--- |
| Other (Prop) |
--- |
|
--- |
| Capital contributions |
--- |
|
--- |
| Special items |
--- |
|
--- |
| Extraordinary items |
--- |
|
--- |
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| CHANGE IN NET ASSETS |
14,041,965 |
|
1,267,619 |
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| TOTAL NET ASSETS -
Beginning of Year |
283,465,913 |
|
3,339,741 |
|
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| TOTAL NET ASSETS - End of
Year |
$297,507,878 |
|
4,607,360 |
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| The
accompanying notes are an integral part of these basic financial statements. |
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