1 / 19

MARTIN STARNES & ASSOCIATES, CPAs, P.A. HICKORY, NC

MARTIN STARNES & ASSOCIATES, CPAs, P.A. HICKORY, NC. Audit Highlights. Unqualified opinion General fund cash (total) $ 6,578,854 General fund revenues $ 10,878,506 General fund expenditures $ 10,692,979. Audit Highlights. Increase in GF fund balance $ 1,119,381

wryan
Télécharger la présentation

MARTIN STARNES & ASSOCIATES, CPAs, P.A. HICKORY, NC

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. MARTIN STARNES & ASSOCIATES, CPAs, P.A. HICKORY, NC

  2. Audit Highlights • Unqualified opinion • General fund cash (total) $ 6,578,854 • General fund revenues $ 10,878,506 • General fund expenditures $ 10,692,979

  3. Audit Highlights • Increase in GF fund balance $ 1,119,381 • Fund balance – GF $ 9,945,933 • Unreserved fund balance $ 6,859,833 • Unreserved fund balance is 64% of general fund expenditures.

  4. Audit Highlights • 2007 Property tax revenues $ 4,482,387 • 2006 Property tax revenues $ 4,440,726 • 2007 Collection rate 99.96 % • 2006 Collection rate 99.97%

  5. Fund Balance History

  6. Property Valuation History

  7. Comparative Averages for NC Municipalities Without Electrical Systems and Permanent Population of 2,500 – 9,999 Town Nags HeadAverage Available GF fund bal. $ 6,859,833 $ 2,199,906* Expenditures $ 10,692,979 $ 3,512,822* • * Reference: LGC memos # 1050 (6/30/06 averages) • Note: Town of Nags Head’s figures are as of 6/30/07, except as noted. Amounts are not adjusted for coastal/seasonal adjustments in population from tourism.

  8. Comparative Averages for NC Municipalities Without Electrical Systems and Permanent Population of 2,500 – 9,999 Town of Nags HeadAverage Property Tax Rate .1475% .2921%* Tax Collection %’s 99.96% 96.72%* • * Reference: LGC memos # 1050 (6/30/06 averages) • Note: Town of Nags Head’s figures are as of 6/30/07, except as noted. Amounts are not adjusted for coastal/seasonal adjustments in population from tourism.

  9. Net Cost of Services Provided – Governmental Activities

  10. General Fund Revenues

  11. General Fund Revenues 2006 and 2007

  12. General Fund Revenues 2006 and 2007

  13. General Fund Revenues 2006 and 2007

  14. General Fund Expenditures

  15. General Fund Expenditures 2006 and 2007

  16. General Fund Expenditures 2006 and 2007

  17. Water Fund • Operating revenues 2006 $ 2,556,310 • Operating revenues 2007 $ 2,636,011 • 2006 Operating Loss $ 223,923 • 2007 Operating Loss $ 169,561

  18. Storm Water Fund • Operating revenues 2006 $ 110,796 • Operating revenues 2007 $ 141,620 • 2006 Operating Income $ 10,083 • 2007 Operating Income $ 34,278

  19. MARTIN STARNES & ASSOCIATES, CPAs, P.A. HICKORY, NC

More Related