January 2013 Financial Statements' Harnett County of Harnett
C o u N T Y Financial Summary Report
G R r €, f A R 0 L A January 31, 2013
General Fund
Revenues:
Ad valorem taxes
Other taxes and licenses
Unrestricted intergovernmental
Restricted intergovernmental
Permits and fees
Sales and services
Investment earnings
Other general revenues
Total revenues
Current Budget
Annual Budget (7 months)
$ 53,720,461
14,133,123
40,044
19,071,620
2,496,659
9,675,275
4,856
2,754,399
Y -T -D %
Actual to Date Collected
31,336,936 $ 48,037,433
8,244,322
4,577,640
23,359
23,821
11,125,112
10,635,965
1,456,384
1,605,587
5,643,910
3,536,789
2,833
3,096
1,606,733
1,584,703
$ 101,896,437 59,439,588 $ 70,005,033
89.42%
32.39%
59.49%
55.77%
64.31%
36.55%
63.76%
,Z'7 «o
4Q '7noi
Other financing sources (uses):
Capital Lease Sources
$
1,165,000
Actual to Date
679,583.33 $ -
Residual Equity
Current Budget
Including
Y -T -D %
Transfers in
Annual Budget
(7 months)
Encumbrances
Expended
Expenditures:
(448,421)
$
(261,578.92) -
Current:
2,323,693
$
1,355,487.58 -
General government
$ 12,085,390
7,049,811
$ 8,130,283
67.27%
Public safety
27,481,065
16,030,621
16,973,177
61.76%
Environmental protection
136,066
79,372
74,978
55.10%
Transportation
186,568
108,831
162,454
87.07%
Economic and physical development
5,277,046
3,078,277
3,570,825
67.67%
Human services
27,644,717
16,126,085
15,973,271
57.78%
Cultural and recreational
1,432,548
835,653
778,349
54.33%
Education
20,950,818
12,221,311
12,221,311
58.33%
Debt service:
Principal
6,578,594
3,837,513
4,230,965
64.31%
Interest and fees
4,608,881
2,688,514
2,323,236
50.41%
Total expenditures
$ 106,381,693
62,055,988
$ 64,438,848
60.57%
Excess(deficiency) of revenues over (under)
expenditures
$ (4,485,256)
(2,616,399)
$ 5,566,186
Other financing sources (uses):
Capital Lease Sources
$
1,165,000
$
679,583.33 $ -
Residual Equity
1,037,351
$
605,121.42 -
Transfers in
434,113
$
253,232.58 -
Transfers out
(448,421)
$
(261,578.92) -
Appropriated Fund Balance
2,323,693
$
1,355,487.58 -
Capital Reserve
-
$
- -
Contingency
(26,480)
$
(15,446.67) -
Total other financing sources (uses)
$
4,485,256
$
2,616,399.33 $ -
Y -T -D Fund Balance Increase (Decrease)
$
-
$
- $ 5,566,186
Current Year Encumbrances - General Fund
$
5,113,016
BALANCE SHEET - GENERAL FUND
January 31, 2013
General Fund
Assets:
Cash and investments
$28,304,588
Taxes receivable, net
22,286,061
Accounts receivable, net
4,576,751
Due from other funds
27,103
Inventories
104,397
Prepaid Items
997,374
Restricted assets:
Cash and cash equivalents 528
Accounts receivable 4,480
Capital assets:
Land and construction in progress 17,478,035
Other capital assets, net 35,626,187
School debt/assets 118,329,894
Total assets $227,735,398
Liabilities:
Current liabilities:
Accounts payable and accrued liabilities $346,113
Due to other funds 429,646
Unearned revenues 216,651
Deferred revenues 27,134,232
Current portion of long term debt 6,424,013
Total current liabilities 34,550,654
Non - current liabilities:
Non - current portion of long term debt 151,203,252
Other post- employment benefits 5,164,299
Non - current portion of compensated absences 2,419,210
Total non - current liabilities 158,786,761
Total Liabilities $193,337,415
Fund Balances:
Reserved for Encumbrances
Reserved for Debt Service
Fund Balance
Total Fund Balances
Total liabilities and fund balance
5,113,016
574,024
28,710,942
34,397,982
$227,735,398
Harnett County of Harnett
C o u N T v Financial Summary Report
ro O k h CAROLINA January 31, 2013
Public Utilities Fund
Revenues:
Charges for services
Water and sewer taps
Investment earnings
Johnston County
Other operating revenues
Sale of Other Assets
Capital Outlay Offset
Fund Balance Appropriated
Total revenues
Expenditures:
Current Budget
Annual Budget (7 months)
Actual to Date
Including
Encumbrances
Operating Expenses
Current Budget
11,089,941 $
Y -T -D %
Annual Budget
(7 months)
Actual to Date
Collected
Depreciation Expense
-
0
$ 22,107,000
12,895,750
$ 13,434,633
60.77%
345,000
201,250
152,585
44.23%
5,000
2,917
145
2.90%
3,600
2,100
-
0.00%
2,258,812
1,317,640
1,443,181
63.89%
1,000
583
16,100
0.00%
-
0
-
0.00%
885,097
516,307
-
0.00%
$ 25,605,509
14,936,547
$ 15,046,644
58.76%
Current Budget
Annual Budget (7 months)
Actual to Date
Including
Encumbrances
Operating Expenses
$ 19,011,328
11,089,941 $
11,016,626
Capital Lease Districts
2,792,620
1,629,028
239,739
Depreciation Expense
-
0
-
Debt Service:
0
Principal
2,216,099
1,292,724
816,420
Interest
1,080,365
630,213
675,638
Total expenditures
$ 25,100,412
14,641,907 $
12,748,423
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 $ 294,640 $ 2,298,221
(505,097) (294,639.92) _
$ (505,097) (294,640) $
Current Year Encumbrances - Public Utilities S 2,937,087
2,298,221
Y -T -D %
Expended
57.95%
8.58%
0.00%
36.84%
62.54%
Harnett County of Harnett
C o U N T Y Financial Summary Report
N '" CAROLINA January 31, 2013
Solid Waste Fund
Revenues:
Solid Waste User Fees
Other operating revenues
Investment Earnings
Solid Waste state taxes
Capital Outlay Offset
Sale of Other Assets
Fund Balance Appropriated
Total revenues
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 (7 months)
$ 5,014,623 2,925,197
400
200
259,000
2,000
233
117
151,083
1,167
Actual to Date
3,683,128
202
164
57,219
$ 5,276,223 3,077,797 $ 3,740,713
Current Budget
Annual Budget (7 months)
Actual to Date
Including
Encumbrances
$ 4,924,915
2,872,867 $
3,690,329
65,518
38,219
65,518
85,790
50,044
38,073
$ 5,076,223
2,961,130 $
3,793,919
$ 200,000
116,667 $
(53,206)
(200,000)
$ (200,000)
Current Year Encumbrances -Solid Waste $ 1,445,766
(116,667) _
(116,667) $
(53,206)
Y -T -D %
Collected
73.45%
50.50%
82.00%
22.09%
0.00%
0.00%
70.90%
Y -T -D %
Expended
74.93%
0.00%
100.00%
44.38%
AARNETT C04.nTT, 11ORTH CAROLINA
BALANCE PROPRIETARY
January 31, ('
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
$16,146,464
$1,496,244
Accounts receivable, net
2,578,801
1,638,142
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
12
Amounts to be provided /debt
77,526,912
1,885,057
Total current assets
101,401,770
5,019,455
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
$281,217,404
$8,400,484
Liabilities:
Current liabilities:
Accounts payable and accrued liabilities
$316,452
$8,171
Due to other funds
0
0
Unearned revenues
114,888
0
Customer Deposits
1,653,630
0
Deferred Revenues
222,340
1,546,940
Current portion of long term debt
2,216,097
65,517
Total current liabilities
4,523,407
1,620,628
Non - current liabilities:
Non - current portion of long term debt 75,000,815 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 76,281,677 3,583,662
Total Liabilities $80,805,083 $5,204,290
Fund Balances:
Reserved Encumbrances
Reserved for Debt Service
GAAP Adjustments
Fund Balance
Total Fund Balances
Total liabilities and fund balance
2,937,087
309,837
1,536,473
195,628,924
200,412,321
$281,217,404
1,445,766
0
0
1,750,428
3,196,194