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, 2006
Schedule 11
  Actual  
Project Prior Current Total
Authorization Years Year To Date
REVENUES
County Grant $350,000 --- --- ---
State and Federal Grants 1,084,000 --- 1,084,000 1,084,000
Wake County Reimbursement --- --- --- ---
Investment Earnings 346,471 334,500 11,973 346,473
Developer Reimbursement 47,150 --- --- ---
       Sub-total 1,827,621 334,500 1,095,973 1,430,473
       Less: Completed Projects             (800,149)            (32,751)         (767,398) (800,149)
TOTAL REVENUES 1,027,472 301,749 328,575 630,324
EXPENDITURES
Asset-Related Projects:
Annexation Water Lines - Frostwood Dr.  * 122,413 122,413 --- 122,413
Annexation Water Lines - Greenwood Acres 522,000 --- 18,986 18,986
Annexation Water Lines - Hazelwood Water 95,000 --- --- ---
Annexation Water Lines - Hillsdale Forest 600,000 48,998 311,468 360,466
Annexation Water Lines - Larkwood Ln.  * 225,456 34,150 191,306 225,456
Annexation Water Lines - Logan Rd.  * 17,320 17,320 --- 17,320
Annexation Water Lines - Summerwinds 1 & 2 750,000 --- --- ---
Annexation Water Lines - Triangle Forest  * 218,808 135,328 83,480 218,808
Annexation Water Lines - Wild Weasel Way 115,000 --- --- ---
Annexation Water Lines - Windsor Oaks 760,000 --- --- ---
Annexation Water Lines - Main Project 1,074,003 --- --- ---
Arthur Pierce Rd. Water Line 690,000 --- --- ---
Automated Meter Reading 100,000 --- --- ---
Carpenter Water Tank  * 2,504,029 2,430,513 31,851 2,462,364
Cary Oaks/Oak Chase Watr System Improvements 150,000 --- --- ---
Cary Towne Blvd. Elevated Tank 80,000 --- --- ---
Cross Connection Control 60,000 --- 32,166 32,166
Crossroads Ground Level Tank 100,000 --- --- ---
Green Level Church Road Water Meter Vault  * 385,000 --- 308,335 308,335
High House Rd Elev Tank 100,000 --- --- ---
Holly Springs Rd. Water Line 1,653,000 --- --- ---
Kildaire Farm Road Water Lien Reinforcement South 490,000 --- --- ---
Kildaire Spheroid Tank 2,895,000 231,282 168,313 399,595
Lily Atkins Rd. Water Line 270,000 --- 517 517
Morrisville Parkway Water Line 63,536 --- --- ---
N. Harrison Elevated Water Tank 100,000 --- --- ---
N. Harrison Water Line Relocation  * 137,000 15,349 --- 15,349
Normandy St. Water Line Replacement  * 332,145 85,322 180,186 265,508
NC55 Water Line Extension Phase 1 670,000 424 --- 424
   
   
   
Asset-Related Projects (cont'd)    
NC55 Water Line Extension Phase 2 $1,660,000 --- 9,372 9,372
NC55 Widening Water Lines - NCDOT 220,000 --- --- ---
Open Space Acquisition  * 6,316,624 --- 711,882 711,882
Optimist Farm Rd. Water Line - West 310,000 24,125 81 24,206
Pierce Olive Rd. Water Line 1,070,000 10,101 15,010 25,111
Pleasant Grove Church Rd. Water Line  * 220,000 208,102 (6,224) 201,878
Pressure Zone Control Valve 710,000 514,486 92,352 606,838
Reclaimed Water Line Oversizings FY2006  * 93,000 --- --- ---
South Cary Water Tank 90,000 --- --- ---
Stephenson Rd. Water Line 600,000 --- --- ---
Ten-Ten Rd. Water Line West 700,000 --- --- ---
TCAP - Water Line Upgrades 165,000 --- --- ---
US1/64 Utility Relocation - Water 300,000 256,407 --- 256,407
West Lake Rd. Elevated Tank 100,000 100 --- 100
Water Tank SCADA  * 522,000 488,312 --- 488,312
Water Line Oversizings FY2006  * 76,614 --- --- ---
Water Line Upgrades FY2005 182,400 --- --- ---
Water Line Upgrades FY2006 191,500 --- --- ---
White Oak Church Rd. Tank 100,000 --- ---
Water Treatment Plant Centrifuge Addition 1,593,000 53,429 404,632 458,061
Water Treatment Plant Security System 400,000 65,573 75,328
       Less: Local Government Reimbursements (578,450) (129,968) (151,739) (281,707)
            Total Expenditures, net 30,321,398 4,611,766 2,477,302 7,089,068
            Less Completed Projects (5,445,607) (3,431,747) (1,451,518) (4,883,265)
            Construction-in-Progress 24,875,791 1,180,019 1,025,784 2,205,803
Expense Projects
Elevated Storage Tank Repainting - Ridgeview 175,000 --- --- ---
S. Wake Water Line/Penny Rd. Pump Station Study 75,000 --- --- ---
Utility Merger Study - Morrisville 535,327 91,530 359,925 451,455
Water Quality Study 250,000 96,374 50,394 146,768
Water Resource Planning & Management 924,620 176,263 85,975 262,238
Water Treatment Plant Capacity/Rerating Study  * 350,000 248,391 --- 248,391
       Less: Local Government Reimbursements (97,750) (57,130) --- (57,130)
            Total Expenditures, net 2,212,197 555,428 496,294 1,051,722
            Less Completed Projects (269,500) (191,262) --- (191,262)
            Other Projects-in-Progress 1,942,697 364,166 496,294 860,460
TOTAL EXPENDITURES $32,533,595 5,167,194 2,973,596 8,140,790
      Total Completed Projects (5,715,107) (3,623,009) (1,451,518) (5,074,527)
TOTAL PROJECTS IN PROGRESS 26,818,488 1,544,185 1,522,078 3,066,263
Revenues Under Expenditures (25,791,016) (1,242,436) (1,193,503) (2,435,939)
OTHER FINANCING SOURCES:
 Bond Proceeds $2,987,528 2,889,500 --- 2,889,500
 Transfers In, net
       General Fund 46,862 46,862 --- 46,862
       Utility System Operations Sub-Fund 9,104,301 8,235,762 868,539 9,104,301
       Capital Reserve Sub-Fund 16,837,266 15,029,343 1,457,922 16,487,265
       Capital Reserve Sub-Fund - Debt Proceeds 1,730,017 940,150 789,867 1,730,017
       Sub-Total 30,705,974 27,141,617 3,116,328 30,257,945
       Less:  Completed Projects (4,914,958) (5,079,623) 164,664 (4,914,959)
TOTAL OTHER FINANCING SOURCES 25,791,016 22,061,994 3,280,992 25,342,986
Increase 20,819,558 2,087,489 22,907,047
Adjustment for Closed Projects 1,489,365 (1,489,365) ---
FUND BALANCE $          --- 22,308,923 598,124 22,907,047
Accrual Adjustment:
Construction-in-Progress Current Year 2,477,302
Construction-in-Progress Write-Off (127,033)
Grant Revenue Earned (701,021)
CHANGE IN NET ASSETS 2,247,372
NET ASSETS - Beginning of Year 27,068,095
Reclassification Between Utility Sub-Funds (4,756,231)
NET ASSETS - End of Year $24,559,236