December 2012 Financial StmtsCounty of Harnett
C o U N T Y Financial Summary Report
` December 31; 2012
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
Expenditures:
Current:
General government
Public safety
Environmental protection
Transportation
Economic and physical development
Human services
Cultural and recreational
Education
Debt service:
Principal
Interest and fees
Total expenditures
Current Budget
Annual Budget (6 months)
Y -T -D %
Actual to Date Collected
$
53,720,461
26,860,231
$ 35,723,068
66.50%
518,676 -
14,133,123
7,066,562
1,503,360
10.64%
$
40,044
20,022
20,922
52.25%
18,950,752
9,475,376
8,374,423
44.19%
(14,909) -
2,420,709
1,210,355
1,342,033
55.44%
$
9,668,975
4,834,488
2,717,050
28.10%
4,856
2,428
1,458
30.02%
2,807,446
1,403,723
1,526,198
54.36%
$
101,746,366
50,873,183
$ 51,208,511
50.33%
Actual to Date
Current Budget
Including
Y -T -D %
Annual Budget
(6 months)
Encumbrances
Expended
$
12,082,053
6,041,027
$ 7,218,374
59.74%
27,518,571
13,759,286
14,757,273
53.63%
136,066
68,033
65,787
48.35%
186,568
93,284
159,880
85.70%
5,256,046
2,628,023
3,142,289
59.78%
27,648,384
13,824,192
13,637,186
49.32%
1,433,793
716,897
705,114
49.18%
20,950,818
10,475,409
10,475,409
50.00%
6,578,594
3,289,297
4,200,965
63.86%
4,608,881
2,304,441
2,323,236
50.41%
$
106,399,774
53,199,887
$ 56,685,512
53.28%
Excess(deficiency) of revenues over (under)
expenditures $
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)
(4,653,408) (2,326,704) $ (5,477,001)
$ 1,165,000
$
582,500 $ -
1,037,351
$
518,676 -
434,113
$
217,057 -
(448,421)
$
(224,211) -
2,495,182
$
1,247,591 -
(29,817)
$
(14,909) -
$ 4,653,408
$
2,326,704 $ -
$ -
$
- $ (5,477,001)
Current Year Encumbrances - General Fund $ 5,739,111
BALANCE SHEET - GENERAL FUND
December 31, 2012
Assets:
General Fund
Cash and investments
$21,018,760
Taxes receivable, net
41,016,663
Accounts receivable, net
4,285,225
Due from other funds
27,103
Inventories
60,197
Prepaid Items
797,374
Restricted assets:
Cash and cash equivalents 44
Accounts receivable 1,938,751
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 $212,630,895
Liabilities:
Current liabilities:
Accounts payable and accrued liabilities $179,971
Due to other funds 429,646
Unearned revenues 213,915
Deferred revenues 47,774,886
Current portion of long term debt 6,772,737
Total current liabilities 55,371,155
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 $184,098,629
Fund Balances:
Reserved for Encumbrances
Reserved for Debt Service
Fund Balance
Total Fund Balances
Total liabilities and fund balance
5,739,111
574,024
22,219,131
28,532,266
$212,630,895
Harnett
County of Harnett
U r Y. Financial Summary Report
N R E `" ' `A December 31, 2012
Public Utilities Fund
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) (252,548.50) -
$ (505,097) (252,549) $ -
Current Year Encumbrances - Public Utilities $ 3,385,751
$ 5,885,685
Current Budget
Y -T -D %
Annual
Budget
(6 months)
Actual to Date
Collected
Revenues:
Charges for services
$
22,107,000
11,053,500
$ 16,156,187
73.08%
Water and sewer taps
345,000
172,500
133,920
38.82%
Investment earnings
5,000
2,500
145
2.90%
Johnston County
3,600
1;800
-
0.00%
Other operating revenues
2,258,812
1,129,406
1,293,196
57.25%
Sale of Other Assets
1,000
500
-
0.00%
Capital Outlay Offset
-
0
-
0.00%
Fund Balance Appropriated
885,097
442,549
-
0.00%
Total revenues
$
25,605,509
12,802,755
$ 17,583,448
68.67%
Actual to Date
Current Budget
Including
Y -T -D %
Annual Budget
(6 months)
Encumbrances
Expended
Expenditures:
Operating Expenses
$
19,011,328
9,505,664
$ 10,062,336
52.93%
Capital Lease Districts
2,792,620
1,396,310
239,739
8.58%
Depreciation Expense
-
0
-
0.00%
Debt Service:
0
Principal
2,216,099
1,108,050
769,337
34.72%
Interest
1,080,365
540,183
626,351
57.98%
Total expenditures
$
25,100,412
12,550,206
$ 11,697,763
46.60%
Revenue over(under) expenditures
$
505,097
$ 252,549
$ 5,885,685
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) (252,548.50) -
$ (505,097) (252,549) $ -
Current Year Encumbrances - Public Utilities $ 3,385,751
$ 5,885,685
Harnett County of Harnett
U N T Y Financial Summary Report
C, '; u ` "' December 31, 2012
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)
0:00%
$ 5,276,223 2,638,112 $ 2,800,654 53.08%
Current Budget
Y -T -D %
Annual Budget
(6 months)
Actual to Date
Collected
$ 5,014,623
2,507,312
$ 2,743,155
54.70%
400
200
177
44.25%
200
100
102
51.00%
259,000
129,500
57,219
22.09%
-
-
-
0.00%
2,000
1,000
-
0.00%
0:00%
$ 5,276,223 2,638,112 $ 2,800,654 53.08%
Current Year Encumbrances -Solid Waste $ 1,882,661
(854,454)
Actual to Date
Current Budget
Including
Y -T -D %
Annual Budget
(6 months)
Encumbrances
Expended
$
4,924,915
2,462,458
$ 3,551,517
72.11%
-
-
-
0.00%
65,518
32,759
65,518
1.00.00%
85,790
42,895
38,073
44.38%
$
5,076,223
2,538,112
$ 3,655,107
72.00%
$
200,000
100,000
$ (854,454)
(200,000)
(100,000)
-
$
(200,000)
(100,000)
$ -
Current Year Encumbrances -Solid Waste $ 1,882,661
(854,454)
HARNETT COUNTY, NORTH CAROLINA
BALANCE SHEET- PROPRIETARY FUNDS
December 31, 2012
Water & Sewer
Fund
Assets:
Current assets:
Solid Waste Fund
Cash and cash investments
$14,999,486
$1,232,741
Accounts receivable, net
2,229,216
2,766,600
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
99,905,207
5,884,412
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
$279,720,842
$9,265,441
Liabilities:
Total Liabilities
$80,803,723
Current liabilities:
$6,432,637
Fund Balances:
Accounts payable and accrued liabilities
$224,718
$7,210
Due to other funds
0
0
Unearned revenues
113,389
0
Customer Deposits
1,653,720
0
Deferred Revenues
314,122
2,776,247
Current portion of long term debt
2,216,097
65,517
Total current liabilities
4,522,046
2,848,974
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
$80,803,723
$6,432,637
Fund Balances:
Reserved Encumbrances
3,385,751
1,882,661
Reserved for Debt Service
309,837
0
GAAP Adjustments
1,536,473
0
Fund Balance
193,685,058
950,143
Total Fund Balances
198,917,119
2,832,804
Total liabilities and fund balance
$279,720,842
$9,265,441