| 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, 2006 |
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| EXHIBIT L |
Utility Systems |
|
Governmental |
|
Enterprise |
|
Activities - |
|
Fund |
|
Internal Service Funds |
| OPERATING REVENUES |
|
|
|
| Charges for Services |
$36,437,686 |
|
767,462 |
| Health and Dental
Premiums |
--- |
|
8,771,940 |
| Other Operating Revenues |
2,040,808 |
|
--- |
| Prop Oper Rev |
--- |
|
--- |
| Prop Oper Rev |
--- |
|
--- |
| TOTAL OPERATING REVENUES |
38,478,494
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|
9,539,402
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| OPERATING EXPENSES |
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| Administrative |
3,629,103 |
|
--- |
| Water Conservation |
211,662 |
|
--- |
| Pretreatment |
261,831 |
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--- |
| Field Operations |
4,191,560 |
|
--- |
| Utility Systems
Maintenance |
1,676,954 |
|
--- |
| Prop Oper Exp |
--- |
|
--- |
| Water Reclamation
Facilities |
7,398,475 |
|
--- |
| Cary/Apex Water Treatment
Plant |
3,562,616 |
|
--- |
| Miscellaneous Utility
System Projects |
912,727 |
|
--- |
| Prop Oper Exp |
--- |
|
--- |
| Garage Services |
--- |
|
727,387 |
| Insurance Claims &
Administrative Fees |
--- |
|
7,012,437 |
| Prop Oper Exp |
--- |
|
--- |
| Depreciation |
7,551,849 |
|
58,928 |
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| TOTAL OPERATING EXPENSES |
29,396,777
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|
7,798,752
|
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| OPERATING INCOME |
9,081,717
|
|
1,740,650
|
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| NONOPERATING REVENUES
(EXPENSES) |
|
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|
| Water and Sewer
Development Fees |
16,540,559 |
|
--- |
| Investment Earnings, net
of market adjustment |
3,964,396 |
|
33,681 |
| NC Gas Tax Refund |
--- |
|
--- |
| Bond Proceeds |
--- |
|
--- |
| Restricted
Intergovernmental Revenue |
588,573 |
|
--- |
| Miscellaneous Revenue |
77,847 |
|
40,924 |
| Reimbursements |
41,050 |
|
--- |
| Prop Nonoper Rev |
--- |
|
--- |
| Prop Nonoper Rev |
--- |
|
--- |
| Interest Expense, net of
amount capitalized |
(3,777,812) |
|
--- |
| Bond Service Expense |
(74,777) |
|
--- |
| Bond Refunding Loss |
(65,218) |
|
--- |
| Developer Fee Credits Issued |
--- |
|
--- |
| Gain on Assets Retired |
110,071 |
|
--- |
| Morrisville Agreement |
--- |
|
--- |
| Prop Nonoper Exp |
--- |
|
--- |
| Prop Nonoper Exp |
--- |
|
--- |
| TOTAL NONOPERATING
REVENUE |
17,404,689
|
|
74,605 |
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| INCOME BEFORE CAPITAL
CONTRIBUTIONS |
$26,486,406
|
|
1,815,255
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| Capital Contributions |
10,446,348 |
|
--- |
| Transfers In |
--- |
|
--- |
| Transfers Out |
(149,932) |
|
--- |
| Sub-fund
transfers HIDE s/b $0 |
--- |
|
--- |
| Other (Prop) |
--- |
|
--- |
| Capital contributions |
--- |
|
--- |
| Special items |
--- |
|
--- |
| Extraordinary items |
--- |
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--- |
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| CHANGE IN NET ASSETS,
Before Special Item |
36,782,822
|
|
1,815,255
|
| SPECIAL ITEM - Morrisville Merger |
39,380,705 |
|
--- |
| CHANGE IN NET ASSETS,
After Special Item |
76,163,527
|
|
1,815,255
|
|
|
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| TOTAL NET ASSETS -
Beginning of Year |
297,507,878 |
|
4,607,360 |
|
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| TOTAL NET ASSETS - End of
Year |
$373,671,405
|
|
6,422,615 |
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| The accompanying
notes are an integral part of these basic financial statements. |
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