North Carolina
Department of State Treasurer
Financial Information
City of Concord

Financial Profile | General Fund | Enterprise Funds | Cash, Investments and Financing
Annual Financial Information Report Detail | Water/Sewer Information
Electric System Information | Financial Graphs and Comparisons
Download Excel 97 Version of Financial Summary

Institute of Government North Carolina Cities Web Site

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Note: All data unless otherwise specified is for the 12 month period ending June, 30th of the designated year

Municipality Revenues and Expenditures Financial Profile Go to top of page			2007	2006	2005	2004	2003	2002
	Revenues by Source
		Property Tax	$34,144,266	31,514,047	29,869,327	26,965,412	26,303,977	25,706,239
		Utility	94,234,651	87,029,074	76,829,523	73,685,326	67,532,921	62,366,283
		Sales Tax	12,228,410	11,991,700	11,172,212	10,589,184	7,711,488	7,891,103
		Sales & Services	13,571,039	12,089,328	9,753,038	8,481,760	7,635,725	7,461,370
		Intergovernmental	15,382,295	13,138,917	12,356,643	13,337,505	10,697,784	9,476,073
		Debt Proceeds	900,936	794,543	16,105,000	410,875	25,741,371	-
		Other Miscellaneous	10,257,747	8,290,091	6,367,699	3,672,826	4,488,159	5,042,766
		Total	$180,719,344	164,847,700	162,453,442	137,142,888	150,111,425	117,943,834

	Expenditures by Function
		Utility	$80,076,801	68,418,646	66,810,051	61,623,401	65,950,132	60,975,229
		Debt Service	15,387,007	18,426,651	14,510,683	9,417,833	8,965,765	8,900,036
		Transportation	19,698,054	20,909,525	19,721,604	17,455,376	9,638,212	7,480,498
		General Government	2,783,616	3,389,555	3,261,698	3,340,475	4,939,386	3,520,167
		Public Safety	29,386,214	33,606,820	25,028,738	21,848,756	20,921,614	20,986,341
		Other	19,371,580	19,371,063	19,751,593	18,889,322	18,829,354	17,954,845
		Total	$166,703,272	164,122,260	149,084,367	132,575,163	129,244,463	119,817,116

	Expenditures by Object
		Salaries & Wages	$36,672,134	33,508,004	26,478,592	24,936,714	24,021,859	22,774,468
		Capital Outlay	20,243,227	24,198,096	21,224,144	15,479,225	18,469,394	13,915,230
		Other Operating + Debt Service	109,787,911	106,416,160	101,381,631	92,159,224	86,753,210	83,127,418
		Total	$166,703,272	164,122,260	149,084,367	132,575,163	129,244,463	119,817,116


	Per Capita Revenues by Source
		Property Tax	$500	497	480	442	440	438
		Utility	1,381	1,372	1,233	1,207	1,129	1,062
		Sales Tax	180	188	179	173	129	135
		Sales & Services	199	191	157	139	128	127
		Intergovernmental	225	207	198	218	179	161
		Debt Proceeds	13	13	259	7	431	-
		Other Miscellaneous	150	131	102	60	75	86
		Total	$2,648	2,599	2,608	2,246	2,511	2,009

	Per Capita Expenditures by Function
		Utility	$1,173	1,079	1,073	1,009	1,103	1,039
		Debt Service	225	291	233	154	150	152
		Transportation	289	330	317	286	161	127
		General Government	41	52	51	55	83	60
		Public Safety	431	530	402	358	350	357
		Other	284	305	317	309	315	306
		Total	$2,443	2,587	2,393	2,171	2,162	2,041

	Per Capita Expenditures by Object
		Salaries & Wages	$537	528	425	408	402	388
		Capital Outlay	297	381	341	253	309	237
		Other Operating	1,609	1,678	1,627	1,510	1,451	1,416
		Total	$2,443	2,587	2,393	2,171	2,162	2,041

	Population Group		Electric 50,000 and Above	Electric 50,000 and Above	Electric 50,000 and Above	Electric 50,000 and Above	Electric 50,000 and Above	Electric 50,000 and Above
		Number of Municipalites in Group	6	6	6	6	6	6
		Average Population In Group	89,628	87,652	79,352	78,573	77,788	75,823
		City of Concord Population	68,249	63,429	62,291	61,070	59,791	58,710
	Group Average Per Capita Revenues by Source
		Property Tax	391	345	369	349	327	320
		Utility	1,668	1,633	1,654	1,591	1,574	1,508
		Sales Tax	170	155	167	152	130	126
		Sales & Services	117	104	105	103	96	96
		Intergovernmental	183	200	198	176	199	246
		Debt Proceeds	51	453	188	117	169	100
		Other Miscellaneous	204	149	203	150	119	145
		Total	2,784	3,039	2,884	2,638	2,614	2,541

	Group Average Per Capita Expenditures by Function
		Utility	1,441	1,744	1,591	1,479	1,547	1,439
		Debt Service	306	236	181	180	167	167
		Transportation	165	169	169	160	121	134
		General Government	109	126	116	131	118	115
		Public Safety	384	376	397	358	359	402
		Other	255	245	274	231	232	287
		Total	2,660	2,896	2,728	2,539	2,544	2,544

	Group Average Per Capita Expenditures by Object
		Salaries & Wages	603	596	609	571	553	557
		Capital Outlay	321	347	369	264	325	327
		Other Operating	1,736	1,953	1,750	1,704	1,666	1,660
		Total	2,660	2,896	2,728	2,539	2,544	2,544


General Fund Go to top of page			2007	2006	2005	2004	2003	2002
	General Fund revenues		$60,483,491	54,177,544	50,570,854	46,391,501	42,433,118	41,564,635
	General Fund expenditures		46,426,960	42,924,182	41,644,160	40,650,403	39,177,361	38,597,919
	Operating transfers in		-	-	-	290,921	12,786	13,282
	Operating transfers out		8,617,062	7,779,973	5,625,002	5,166,616	4,696,181	4,537,065
	Capital leases and installment purchase proceeds		900,936	794,543	-	-	-	-
	Other items		-	-	-	410,875	198,027	-
	Excess of revenues and other sources over (under) expenditures and other uses		6,340,405	4,267,932	3,301,692	1,276,278	(1,229,611)	(1,557,067)

	Fund balance available (FBA):
		In dollars	$30,798,088	25,610,931	20,374,053	18,661,868	20,269,045	20,937,967
		FBA as a % of GF Net Expenditures:
		Unit's FBA %	56.88	51.31	43.10	40.73	46.20	48.54
		Group weighted average FBA %	28.48	29.05	28.70	28.71	24.82	24.47
		State weighted average Electric Group	33.93	35.93	36.30	36.12	34.92	32.66
		State weighted average FBA %	36.37	36.31	36.75	36.35	36.06	35.26


Enterprise Funds: Go to top of page
	Water/Sewer, Electric, Airport Operation, Storm Water, Golf, Housing, Transportation

	Combined financial results:
		Working capital	$49,709,052	37,954,615	37,987,842	34,574,347	31,013,257	20,168,456
		Quick ratio	4.10	3.94	3.88	3.36	3.13	2.31
		Net income	23,895,941	71,539,988	12,614,760	15,230,374	11,556,568	8,766,033
		Cashflow from operations	22,536,908	19,912,857	18,307,062	15,837,036	15,142,652	11,600,932
		Depreciation & Amortization Expense	8,411,083	8,206,327	7,978,469	5,550,883	6,233,709	7,970,007



Cash, Investments and Financing Go to top of page			2007	2006	2005	2004	2003	2002

		Population at July 1st of the Previous Year	68,249	63,429	62,291	61,070	59,791	58,710
		Population Group	Electric 50,000 and Above	Electric 50,000 and Above	Electric 50,000 and Above	Electric 50,000 and Above	Electric 50,000 and Above	Electric 50,000 and Above
		Cash &Investments	$85,910,329	69,939,313	52,260,614	51,000,694	63,855,828	50,183,199
		Investment Earnings	4,719,384	3,069,989	2,691,531	785,615	1,911,253	2,268,653
		Tax Rate Equivalent	0.0622	0.0425	0.0384	0.0134	0.0330	0.0401
		Tax Rate Equivalent Group weighted average	0.0841	0.0646	0.0355	0.0223	0.0266	0.0486
		Tax Rate Equivalent Statewide weighted average	0.0919	0.0573	0.0415	0.0340	0.0332	0.0386
		Latest year of Revaluation	2004	2004	2004	1999	1999	1999
		January 1, Prior Year Assessed Valuation	$7,585,870,488	7,229,795,116	7,008,830,968	5,881,266,695	5,783,600,017	5,660,614,044
		Tax Rate	0.4475	0.4300	0.4300	0.4500	0.4500	0.4500
		Tax Rate Group weighted average	0.5144	0.5264	0.5135	0.5419	0.5395	0.5278
		Tax Rate State Wide	0.4455	0.4321	0.4448	0.4566	0.4594	0.4510
		Assessment -to-Sales Ratio	96.03	98.33	100.00	89.45	94.02	96.83
		Assessment -to-Sales Ratio Group weighted average	92.87	96.08	97.88	89.96	87.72	89.13
		Assessment -to-Sales Ratio Statewide	88.41	92.28	92.35	92.18	89.54	90.62
		Assessed Valuation Adjusted for Assesment to Sales Ratio	$7,899,479,838	7,352,583,256	7,008,830,968	6,574,920,844	6,151,457,155	5,845,930,026
		EffectiveTax Rate	0.4297	0.4228	0.4300	0.4025	0.4231	0.4357
		Group weighted average Effective Tax Rate	0.4778	0.5058	0.5026	0.4875	0.4732	0.4704
		Statewide weighted average Effective Tax Rate	0.3939	0.3987	0.4108	0.4209	0.4113	0.4087
		Percent Collected	98.00	98.11	98.00	97.88	97.84	97.46
		Percent Collected Group weighted average	97.28	97.14	97.08	96.89	96.52	96.46
		Percent Collected Statewide	97.84	97.55	97.42	97.31	96.96	97.05
		Percent Collected Excluding Motor Vehicles	98.72	98.83	98.73	98.71	98.68	98.24
		Percent Collected Excluding Motor Vehicles Group weighted average	98.50	98.50	98.14	98.08	97.91	97.97
		Percent Collected Excluding Motor Vehicles Statewide weighted average	98.60	98.61	98.36	98.26	98.10	98.26
		Percent Collected Motor Vehicles Only	88.63	89.28	88.30	87.94	87.98	87.99
		Percent Collected Motor Vehicles Only Group weighted average	85.07	84.65	87.11	85.31	84.54	86.21
		Percent Collected Motor Vehicles Only Statewide weighted average	86.72	86.80	87.31	87.62	86.77	87.42
		Tax Uncollected	278,769	596,467	594,372	566,768	564,127	650,218
		Tax Rate Equivalent	0.0037	0.0083	0.0085	0.0096	0.0098	0.0115
		Dominant County: Cabarrus
	Debt Information
		Population Group	50,000 to 99,999	50,000 to 99,999	50,000 to 99,999	50,000 to 99,999	50,000 to 99,999	50,000 to 99,999
		Ratings:
		Fitch	AA	AA	AA	AA	AA	AA
		Moody's	Aa2	Aa2	Aa2	Aa2	Aa2	Aa2
		S & P	AA-	AA-	AA-	AA-	AA-	AA-

		General Obligation Debt (GO) where the taxing power of the entrire municipality is pledged to pay the obligation
		Enterprise GO Debt	$1,677,031	2,699,524	3,750,567	4,845,521	5,959,388	7,096,804
		General Government GO Debt	462,969	560,476	659,433	759,479	860,612	963,196
		Total General Obligation Debt	2,140,000	3,260,000	4,410,000	5,605,000	6,820,000	8,060,000
		Per Capita	$31	51	71	92	114	137
		Total Per Capita for the Population Group	346	372	376	417	463	477
		Total Per Capita Statewide	474	495	505	548	590	585
		Total per Assessed Valuation Adjusted for Current Year Sales	0.0271%	0.0443%	0.0629%	0.0852%	0.1109%	0.1379%
		Total per Assessed Valuation Adjusted for Current Year Sales- Group Average	0.3712%	0.4382%	0.4687%	0.5358%	0.6061%	0.6481%
		Total per Assessed Valuation Adjusted for Current Year Sales - Statewide	0.4676%	0.5275%	0.5588%	0.6442%	0.6979%	0.7131%
		Total Authorized but not Issued General Obligation Debt

		Installment Sales Purchases and Lease Obligations
		--Enterprise	$6,151,605	7,111,582	8,034,251	8,866,519	9,641,389	10,272,764
		--General Government	44,247,145	48,062,168	51,329,499	22,028,481	23,953,611	25,522,236
		Total*	$50,398,750	55,173,750	59,363,750	30,895,000	33,595,000	35,795,000
		* The total only includes the contracts that require Local Government Commission approval.
		Revenue Bond Debt	$98,545,000	103,200,000	107,570,000	111,765,000	115,195,000	86,315,000


Annual Financial Information Report Detail Go to top of page
Line	Section	Description	2007	2006	2005	2004	2003	2002
	Population at July 1st of the Previous Year Adjusted for Boundry Changes		68,249	63,429	62,291	61,070	59,791	58,710

1A	Non GASB34	General Fund Assets						32,085,185
1B	FISCAL	General Fund Liabilities						3,828,060
2A	SUMMARY	Debt-service Assets
2B		Debt service Liabilities
3A		Enterprise Assets						241,073,557
3B		Enterprise Liabilities						99,196,382
4A		Internal Service Assets						1,739,338
4B		Internal service Liabilities						1,101,383
5A		Special Revenue Assets						3,603,978
1.5A	GASB34	Governmental Activities Assets	359,893,087	361,552,959	409,680,700	393,294,855	398,120,087
1.5B	FISCAL	Governmental Activities Liabilities	44,614,758	47,810,848	51,600,648	37,238,094	40,253,862
3.5A	SUMMARY	Business Type Activities Assets	410,040,495	390,369,572	324,849,175	313,523,598	305,384,479
3.5B		Business Type Activities Liabilties	126,089,322	130,558,340	136,577,931	137,879,557	144,970,812
6.5A		Fiduciary Funds Assets	1,742,281	1,308,166
6.5B		Fiduciary Funds Liabilties	1,742,281	1,308,166
5B		Special Revenue Liabilities						936,735
6A		Trust & Agency Assets						213,257
6B		Trust & Agency Liabilities
7A		Capital Project Assets						3,154,712
7B		Capital Project Liabilities						1,913,478
8A		General Fixed Assets						538,594,521
9B		General Long term debt - Liabilities						9,655,779
10	PART 2	Current collections of unit-wide levy	33,475,006	30,892,794	29,028,382	26,020,494	25,475,472	24,734,693
11	TAX	Current collection of special tax districts	71,146	76,148	74,705	69,507	59,372	80,773
12	REVENUES	Prior years' levy collections	454,555	413,034	597,044	674,121	631,714	764,546
13		Penalties and interest	214,705	208,219	243,901	270,797	196,791	207,000
14		Collection of taxes previously written off
15		Animal tax
16		1% Local government sales and use tax	5,423,405	5,337,575	5,285,762	4,882,676	4,079,194	4,275,399
17		1/2% Local government sales and use taxes (Article 40)	2,282,424	2,220,751	1,920,339	1,927,014	1,826,054	1,815,978
18		1/2% Local government sales and use taxes (Article 42)	2,255,192	2,197,654	1,899,162	1,901,549	1,806,240	1,799,726
18.5		1/2% Local government sales and use taxes (Article 44)	2,267,389	2,235,720	2,066,949	1,877,945
19		Licenses Privilege				617,337	579,602	132,048
19.1		Privilege - Occupational & business licensing & permit taxes	837,126	637,048	675,362
19.2		Privilege -- All other privileges and pemits
20		General Municipal Vehicle Tax	275,058	277,977	261,499	478,702	424,504	220,073
21		Vehicle Tax for Public Transportation
22		Other licenses - Include CATV	375,188	438,251	432,134	395,792	391,056	356,954
23		Local occupancy tax
24		Prepared food tax
25		911 charges
26		Gross Receipts Tax on Short Term Vehicles Leases	91,132	85,810	46,310
27	FEDERAL	FEDERAL Payment in lieu of taxes
28	INTERGOV	Equitable sharing of Federally forfeited property
29	REVENUES	General government
30		Public safety	47,944	347,066	633,956	529,722	711,240	147,184
31		Transportation - Streets
32		Transportation - All other	1,781,323	1,154,007	1,078,514	2,405,400	45,664	963,982
33		Utility franchise tax
34		Housing/community development	5,287,169	5,207,398	5,172,130	4,771,345	5,056,207	3,691,560
35		All Other
36		Human services: Health, mental health, hospitals
37		All other
38		Culture and recreation
39	STATE	State Payment in Lieu of Taxes
40	INTERGOV	Controlled substance tax	30,567	21,887	31,619	37,651
41	REVENUES	Intangibles tax reimbursement + Transistional Hold Harmless Revenues						457,597
42		Wireless Enhanced 911 Service Charges
43		Piped Natural Gas Charge Distribution	421,223	384,221	400,395	469,101	352,218	100,524
44		Utility franchise tax	2,588,931	2,289,494	2,033,929	2,322,783	1,909,269	1,081,651
45		Beer and Wine tax	286,618	275,136	270,314	256,786	248,541
46		Powell Bill
47		Food stamp purchases tax reimbursement						12,881
48		Inventories tax reimbursements						587,554
49		Senior Citizens Exemption - 50%
50		Court fees - Facilities and arrest fees	65,663	55,546	54,913	53,427	55,890	55,803
51		General Government
52		Public safety		111,844	12,947	39,768	91,707	2,000
53		Transportation - Streets	1,951,267	1,954,467	1,931,216	1,714,417	1,859,902	1,906,024
54		Transportation - All other	1,784,675	208,709	366,855	473,087	209,258	334,106
55		Environmental protection					6,000
56		Econ. & Phys. Dev. - Housing/Comm. Dev.	331,452	247,765
57		Econ. & Phys. Dev. - All Other
58		Human Services: Health, mental health, hospitals
59		All Other
60		Culture and recreation
61	LOCAL	LOCAL Payment in lieu of taxes					3,727	1,275
62	INTERGOV	General government
63	REVENUES	Public safety	225,752	130,545	129,187	106,388	123,224	100,091
64		Transportatin - Streets
65		Transportation - All other	579,711	750,832	240,668	157,630	24,937	33,841
66		Environmental protection
67		Economic and physical development
68		Human Services: Health, Mental Health & Hosp
69		Human Services: All Other
70		Culture and recreation
71	PERMITS	Building permits				232,203	274,093	119,228
72	& FEES	Inspection fees	166,572	135,690	112,527	122,658	28,005	99,369
72.1		Amusements licensing and permit taxes
73		Other permits	375,419	285,828	261,043	44,126	45,410	17,952
74	SALES &	Parking revenues		10,830	13,564	12,468	15,996	10,485
75	SERVICES	Rents and royalties	1,674	1,950	4,050	4,085	2,760	2,400
76		Airport	9,329,042	8,997,417	7,112,333	5,898,965	5,186,380	4,676,452
77		Fire protection charges
78		Solid waste	90,605	66,526	60,989	52,293	40,881	37,788
79		Ambulance and rescue squad charges
80		Cemeteries	133,087	162,031	102,045	120,137	97,222	109,748
81		Recreation service revenues	266,775	261,141	1,735,536	1,795,426	1,637,954	1,906,131
82		Library service revenues
83		Other cultural and recreational service revenues	1,753,737	1,539,142
84		Mass transit - city operated	497,795	148,416	114,153	16,301
85		Other sales and services	1,498,324	901,875	610,368	582,085	654,532	718,366
86	UTILITY	Water and sewer charges	33,309,518	30,090,997	26,204,445	24,857,233	21,006,628	18,408,482
87	REVENUES	Electric charges	57,784,175	55,127,472	50,625,078	48,828,093	46,526,293	43,957,801
88		Gas charges
88.1		Storm Water Fees	3,140,958	1,810,605
89	MISC.	On bond proceeds	234,042	546,528	77,880	179,505	187,191	118,209
90	REVENUES	On general and all other funds	4,719,384	3,069,989	2,691,531	785,615	1,911,253	2,268,653
91		Special assessments
92		Private contribution and donations	545,629	329,461	21,079	83,889	65,416	134,007
93		Sales of materials and fixed assets	1,369,167	160,870	621,387	-507,109	-455,832	91,472
94		Sales of real property						468,104
95		Nongovernment contributions for streets and traffic signals
96		Mixed drink surcharge
97		ABC profit distribution	205,842	189,954	160,394	148,839	141,713	127,715
98		Other miscellaneous revenues	690,995	1,739,074	931,848	738,022	836,376	808,209
99		Proceeds of the sale of bonds and notes			16,105,000		25,741,371
100		Proceeds of capital leases and installment purchases	900,936	794,543		410,875
101		Other	301,047	317,463		283,740
102	NON-REV	Supplemental schools taxes - current levy collections
103	RECEIPTS	Prior years' levy collections
104		Tax collections for units other than reporting unit
105		Utilities customers' deposits	153,819	27,789	231,348	-430,413	286,300	45,503
106		Deposits other than utility	-203,724	-48,521	506,946	3,576	60,491	-9,568
107		Prepaid taxes	9,104	-201,598	323,436	190,758	158,240	40,225
108		Prepaid privilege licenses	183,193	-131,423	408,150	-39,271	339,706	215
109A	PART 4	Governing body - Salaries	69,611	65,404	34,273	33,600	33,434	31,954
109B	GENERAL	Governing body - All other Direct	74,163	64,116	77,540	67,876	56,075	55,259
109C	GOVT	Governing body - Construction
109D		Governing body - Land, Equipment and Existing Structures					5,429
110A		Administration - Salaries	217,216	557,870	401,142	350,654	390,635	396,699
110B		Administration - All other Direct	110,844	58,672	190,319	450,063	453,294	313,177
110C		Administration - Construction					26,369	30,382
110D		Administration - Land, Equipment and Existing Structures	240,096		104,277	269,882	1,365,890	174,526
111A		Elections (cost of) - Salaries
111B		Elections (cost of) - All other Direct		27,815		24,899		22,618
111C		Elections (cost of) - Construction
111D		Elections (cost of) - Land, Equipment and Existing Structures
112A		Finance - Salaries	262,059	176,355	251,000	232,263	212,072	236,620
112B		Finance - All other Direct	127,450	60,719	104,671	147,656	121,505	159,730
112C		Finance - Construction
112D		Finance - Land, Equipment. and Existing Structures	25,890	295,900	50,400		2,370	4,409
113A		Taxes - Salaries	196,458	169,878	124,167	94,013	40,584	68,223
113B		Taxes - All other Direct	131,963	113,967	158,646	135,325	140,218	95,386
113C		Taxes - Construction
113D		Taxes - Land, Equipment, and Existing Structures			10,359			4,222
114A		Legal - Salaries	134,213	134,179	228,851	201,510	45,945	80,506
114B		Legal - All other Direct	41,736	14,939	103,359	94,117	107,595	31,879
114C		Legal - Construction
114D		Legal - Land, Equipment, and Existing Structures						2,113
115A		Public Buildings - Salaries
115B		Public Buildings - All other Direct				128,635	273,058	189,495
115C		Public Buildings - Construction						62,004
115D		Public Buildings - Land, Equipment, and Existing Structures
116A		Court Facilities - Salaries
116B		Court Facilities - All other Direct
116C		Court Facilities - Construction
116D		Court Facilities - Land, Equipment, and Existing Structures
117A		Central Facilites - Salaries
117B		Central Facilities - All other Direct	635,947	1,181,101	934,546	701,261	601,275	594,593
117C		Central Facilites - Construction
117D		Central Facilites - Land, Equipment, and Existing Structures
118A		General Government All Other - Salaries
118B		General Government All Other - All other Direct	509,947	468,640	488,148	408,721	1,063,638	966,372
118C		General Government All Other - Construction
118D		General Government All Other - Land, Equipment, and Existing Structures	6,023
119A	PUBLIC	Police and Communications - Salaries	9,059,213	8,494,409	6,189,596	5,904,346	5,558,544	5,359,399
119B	SAFETY	Police and Communications - All other Direct	1,687,833	1,610,051	3,577,674	3,458,966	2,956,219	3,000,910
119C		Police and Communications - Construction	1,845,359	9,009,09

North CarolinaDepartment of State TreasurerFinancial InformationCity of Concord

North Carolina
Department of State Treasurer
Financial Information
City of Concord