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Home My WebLink AboutNovember 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