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| TOWN OF CARY, NORTH
CAROLINA |
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| UTILITY SYSTEM
CAPITAL RESERVE SUB-FUND |
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| SCHEDULE OF
REVENUES, EXPENDITURES, AND CHANGES IN FUND NET ASSETS |
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| BUDGET AND ACTUAL
(NON-GAAP) |
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| For the Year Ended June
30, 2006 |
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| With Comparative
Totals For the Year Ended June 30, 2005 |
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| Schedule 13 |
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2006 |
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2005 |
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Variance |
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Positive |
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|
Budget |
Actual |
(Negative) |
|
Actual |
| REVENUES |
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| Water Development Fees |
$2,200,454 |
7,002,518 |
4,802,064 |
|
2,885,047 |
| Sewer Development Fees |
2,766,480 |
8,633,450 |
5,866,970 |
|
3,604,141 |
| Acreage Fees -
Water |
--- |
--- |
--- |
|
--- |
| Acreage Fees -
Sewer |
--- |
--- |
--- |
|
--- |
| Investment Earnings, net of market adjustment |
242,797 |
2,522,659 |
2,279,862 |
|
1,715,939 |
| Restricted
Intergovernmental Revenue |
--- |
--- |
--- |
|
--- |
| Miscellaneous |
--- |
52,616 |
52,616 |
|
12,750 |
| TOTAL REVENUES |
5,209,731 |
18,211,243 |
13,001,512 |
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8,217,877 |
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| OTHER FINANCING SOURCES (USES) |
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| Transfers Out, net |
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| Transfer to Water Project Sub-Fund |
(2,247,789) |
(1,607,208) |
640,581 |
|
(889,408) |
| Transfer to Sewer Project Sub-Fund |
(6,750,772) |
(6,300,344) |
450,428 |
|
(1,580,825) |
| Transfer from Utility System
Operations |
--- |
--- |
--- |
|
--- |
| Transfer from
General Fund |
--- |
--- |
--- |
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--- |
| Bond Proceeds |
--- |
--- |
--- |
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--- |
| Gain on Sale of Assets |
--- |
102,300 |
102,300 |
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--- |
| Appropriation to Fund Balance |
3,788,830 |
--- |
(3,788,830) |
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--- |
| Reserve for Future
Capital Needs |
--- |
--- |
--- |
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--- |
| TOTAL OTHER FINANCING USES |
(5,209,731) |
(7,805,252) |
(2,595,521) |
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(2,470,233) |
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| Revenues Over Other
Financing Uses |
$ --- |
10,405,991 |
10,405,991 |
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5,747,644 |
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| ADJUSTMENT TO ACCRUAL: |
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| Add |
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| Development Fee Credits Used |
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904,591 |
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480,648 |
| Decrease
Arbitrage Liability |
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--- |
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--- |
| Long-Term Debt
Proceeds |
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--- |
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--- |
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| Total
Accrual Adjustments |
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904,591 |
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480,648 |
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| CHANGE IN NET ASSETS |
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11,310,582 |
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6,228,292 |
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| NET ASSETS - Beginning of
Year, Adjusted |
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35,165,037 |
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28,936,745 |
| NET ASSETS - End of Year |
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$46,475,619 |
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35,165,037 |
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