November 2012 Financial StmtsHarnett County of Harnett
C 0 U N T Y Financial Summary Report
NORTH CAROLINA November 30, 2012
General Fund
Revenues:
Ad valorem taxes
Other taxes and licenses
Unrestricted intergovernmental
Restricted intergovernmental
Pen-nits and fees
Sales and services
Investment earnings
Other general revenues
Total revenues
Expenditures:
Current:
General government
Public safety
Enviromnental protection
Transportation
Economic and physical development
Human services
Cultural and recreational
Education
Debt service:
Principal
Interest and fees
Total expenditures
Current Budget Y -T -D %
Annual Budget (5 months) Actual to Date Collected
$ 53,720,461
14,133,123
40,044
18,925,042
2,475,659
9,675,275
4,856
2,731,845
22,383,525 $ 27,878,215
5,888,801
1,424,054
16,685
15,944
7,885,434
8,372,724
1,031,525
1,106,340
4,031,365
1,756,619
2,023
1,419
1,138,269
1,395,531
$ 101,706,305 42,377,627 $ 41,950,846
51.89%
10.08%
39.82%
44.24%
44.69%
18.16%
29.22%
C1 ADO/
Excess(deficiency) of revenues over (under)
expenditures $ (4,554,564)
Other financing sources (uses):
Capital Lease Sources
Residual Equity
Transfers in
Transfers out
Appropriated Fund Balance
Capital Reserve
Contingency
Total other financing sources (uses)
Y -T -D Fund Balance Increase (Decrease)
(1,897,735) $ (8,583,737)
$ 1,165,000
$
Actual to Date
1,037,351
$
Current Budget
Including
Y -T -D %
Annual Budget
(5 months)
Encumbrances
Expended
2,396,338
$
998,474 -
$ 11,983,209
4,993,004
$ 6,413,003
53.52 %0
27,480,664
11,450,277
13,230,810
48.15%
136,066
56,694
56,814
41.75%
186,568
77,737
159,201
85.33%
5,256,046
2,190,019
2,795,127
53.18%
27,646,230
11,519,263
11,999,935
43.41%
1,433,793
597,414
633,402
44.18%
20,950,818
8,729,508
8,729,508
41.67%
6,578,594
2,741,081
4,190,761
63.70%
4,608,881
1,920,367
2,326,023
50.47%
$ 106,260,869
44,275,362
$ 50,534,584
47.56%
Excess(deficiency) of revenues over (under)
expenditures $ (4,554,564)
Other financing sources (uses):
Capital Lease Sources
Residual Equity
Transfers in
Transfers out
Appropriated Fund Balance
Capital Reserve
Contingency
Total other financing sources (uses)
Y -T -D Fund Balance Increase (Decrease)
(1,897,735) $ (8,583,737)
$ 1,165,000
$
485,416.67 $ -
1,037,351
$
432,230 -
434,113
$
180,880 -
(448,421)
$
(186,842) -
2,396,338
$
998,474 -
(29,817)
$
(12,424) -
$ 4,554,564
$
1,897,735.00 $ -
$ -
$
- $ (8,583,737)
Current Year Encumbrances - General Fund $ 6,176,786
e • , • , . •
BALANCE SHEET - GENERAL FUND
November 30, 2012
General Fund
Assets:
Cash and investments
$19,138,058
Taxes receivable, net
45,163,059
Accounts receivable, net
4,357,589
Due from other funds
402,543
Inventories
112,056
Prepaid Items
752,097
Restricted assets:
Cash and cash equivalents 6
Accounts receivable 4,758
Capital assets:
Land and construction in progress 17,675,339
Other capital assets, net 35,626,187
School debt /assets 90,185,253
Total assets $213,416,944
Liabilities:
Current liabilities:
Accounts payable and accrued liabilities $232,342
Due to other funds 0
Unearned revenues 213,915
Deferred revenues 49,993,647
Current portion of long term debt 6,772,737
Total current liabilities 57,212,640
Non - current liabilities:
Non - current portion of long term debt 121,143,966
Other post - employment benefits 5,164,299
Non - current portion of compensated absences 2,419,210
Total non- current liabilities 128,727,475
Total Liabilities $185,940,115
Fund Balances:
Reserved for Encumbrances
Reserved for Debt Service
Fund Balance
Total Fund Balances
Total liabilities and fund balance
6,176,786
7,480
21,292,563
27,476,829
$213,416,944
Harnett
County of Harnett
U N.I.-T Y
Financial Summary Report
November 30,
2012
Public Utilities
Fund
Current Budget
Y -T -D %
Annual Budget
(5 months)
Actual to Date
Collected
Revenues:
Charges for services
$ 22,044,630
9,185,263
$ 9,318,679
42.27%
Water and sewer taps
345,000
143,750
117,080
33.94%
Investment earnings
5,000
2,083
145
2.90%
Johnston County
3,600
1,500
-
0.00%
Other operating revenues
2,321,182
967,159
1,219,601
52.54%
Sale of Other Assets
1,000
417
-
0.00%
Capital Outlay Offset
-
0
-
0.00%
Fund Balance Appropriated
885,097
368,790
-
0.00%
Total revenues
$ 25,605,509
10,668,962
$ 10,655,505
41.61%
Actual to Date
Current Budget
Including
Y -T -D %
Annual Budget
(5 months)
Encumbrances
Expended
Expenditures:
Operating Expenses
$ 19,011,328
7;921,387
$ 9,154,427
48.15%
Capital Lease Districts
2,792,620
1,163,592
239,739
8.58%
Depreciation Expense
-
0
-
0.00%
Debt Service:
0
Principal
2.216,099
923,375
722,253
32.59%
Interest
1,080,365
450,152
577,065
53.41%
Total expenditures
$ 25,100,412
10,458,505
$ 10,693,485
42.60%
Revenue over(under) expenditures
Other financing sources (uses):
Transfers in
Transfers out
Total other financing sources (uses)
Excess of revenues and other financing
sources (uses) over (under)
expenditures and other financing
sources (uses)
$ 505,097 $ 210,457 $ (37,980)
(505,097) (210,457.08) -
$ (505,097) (210,457) $ -
Current Year Encumbrances - Public Utilities $ 3,547,896
$ (37,980)
Harnett
County of Harnett
3,477,509
70.61%
` C 0 U N T Y
Financial Summary Report
-
0.00%
,' " R I ` C A 01 i 1 N `
November 30, 2012
65,518
100.00%
85,790
Solid Waste Fund
38,073
44.38%
$ 5,076,223
Current Budget
3,581,100
Y -T -D %
$ 200,000
Annual Budget (5 months)
Actual to Date
Collected
Revenues:
(83,333)
-
Solid Waste User Fees
$ 5,014,623 2,089,426
$ 2,126,041
42.40%
Other operating revenues
400 1.67
177
44.25%
Investment Earnings
200 83
102
51.00%
Solid Waste state taxes
259,000 107,917
57,219
22.09%
Capital Outlay Offset
- -
-
0.00%
Sale of Other Assets
2,000 833
-
0.00%
Fund Balance Appropriated
- -
-
0.00%
Total revenues
$ 5,276,223 2,198,426
$ 2,183,540
41.38%
Expenditures:
Operating Expenses
Depreciation Expense
Debt Service:
Principal
Interest
Total expenditures
Revenue over(under) expenditures
Other financing sources (uses):
Bonds and capital lease issuance
Bond Premium
Revenue Bonds
Payment to Escrow Agent
Residual Equity Transfer
Transfers in
Transfers out
Total other financing sources (uses)
Excess of revenues and other financing
sources (uses) over (under)
expenditures and other financing
sources (uses)
Current Budget
Annual Budget (5 months)
Actual to Date
Including
Encumbrances
Y -T -D %
-Expended
$ 4,924,915
2,052,048 $
3,477,509
70.61%
-
-
-
0.00%
65,518
27,299
65,518
100.00%
85,790
35,746
38,073
44.38%
$ 5,076,223
2,115,093 $
3,581,100
70.55%
$ 200,000
83,333 $
(1,397,560)
(200,000)
(83,333)
-
$ (200,000)
(83,333) $
-
Current Year Encumbrances -Solid Waste $ 1,939,148
$ (1,397,560)
HARNETT COUNTY, NORTH CAROLINA
BALANCE SHEET- PROPRIETARY FUNDS
November 30, 2012
Non - current assets:
Land
Water & Sewer
912,287
Other capital assets, net
Fund
Solid Waste Fund
Assets:
722,803
39,148
Current assets:
179,815,634
3,381,028
Cash and cash investments
$14,1 19,072
$763,349
Accounts receivable, net
2,803,501
2,918,577
Due from other funds
4,325,953
0
Inventory
513,713
0
Prepaid
0
0
Restricted assets:
0
0
Cash and cash investments, restricted
309,928
14
Amounts to be provided /debt
77,526,912
1,885,057
Total current assets
99,599,079
5,566,998
Non - current assets:
Land
1,827,526
912,287
Other capital assets, net
177,265,306
2,429,593
Bond issuance cost, net
722,803
39,148
Total non - current assets
179,815,634
3,381,028
Total assets
$279,414,713
$8,948,026
Liabilities:
Current liabilities:
Accounts payable and accrued liabilities
$2,610
$0
Due to other funds
0
0
Unearned revenues
99,436
0
Customer Deposits
1,641,830
0
Deferred Revenues
314,122
2,952,583
Current portion of long term debt
2,216,097
65,517
Total current liabilities
4,274,097
3,018,100
Non - current liabilities:
Non - current portion of long term debt
77,216,912
1,885,057
Post Closure Liabilities
1,570,845
Other post - employment benefits
740,420
78,910
Non - current portion of compensated absences
540,442
48,850
Total non- current liabilities
78,497,774
3,583,662
Total Liabilities
$82,771,870
$6,601,762
Fund Balances:
Reserved Encumbrances
3,547,896
1,939,148
Reserved for Debt Service
201,109
0
GAAP Adjustments
1,536,473
0
Fund Balance
191,357,365
407,116
Total Fund Balances
196,642,843
2,346,264
Total liabilities and fund balance
$279,414,713
$8,948,026