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Home My WebLink AboutJanuary 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