North Carolina
Department of State Treasurer
Financial Information
Town of Cornelius

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

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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			2011	2010	2009	2008	2007	2006
	Revenues by Source
		Property Tax	$9,983,272	9,930,887	9,493,370	9,088,881	8,610,559	7,700,788
		Utility	4,786,903	4,267,380	3,998,099	4,753,904	4,050,721	3,760,433
		Sales Tax	2,124,137	2,166,112	2,274,258	2,596,339	2,340,783	2,217,266
		Sales & Services	357,728	6,246	408,757	470,992	392,716	326,987
		Intergovernmental	3,257,575	4,431,615	3,312,622	2,677,742	2,466,016	2,003,419
		Debt Proceeds	243,202	2,455,665	206,123	235,585	241,150	157,864
		Other Miscellaneous	4,850,908	4,154,405	2,829,581	4,731,444	6,755,882	4,025,260
		Total	$25,603,725	27,412,310	22,522,810	24,554,887	24,857,827	20,192,017

	Expenditures by Function
		Utility	$4,557,866	4,484,110	4,462,930	4,363,169	3,758,635	3,514,502
		Debt Service	2,693,334	2,555,556	2,694,376	4,330,754	2,504,138	2,925,358
		Transportation	6,625,126	4,619,080	2,505,342	2,531,863	2,761,397	2,357,259
		General Government	1,706,979	2,079,626	1,839,183	1,678,739	1,516,876	1,435,555
		Public Safety	6,674,839	6,994,922	6,106,648	7,532,067	5,444,935	4,691,929
		Other	6,777,798	5,158,847	4,597,909	4,432,502	4,791,193	4,258,400
		Total	$29,035,942	25,892,141	22,206,388	24,869,094	20,777,174	19,183,003

	Expenditures by Object
		Salaries & Wages	$7,131,234	6,587,282	4,773,385	4,564,989	4,345,494	3,889,059
		Capital Outlay	8,793,778	6,691,547	3,133,755	5,432,299	3,917,129	2,851,352
		Other Operating + Debt Service	13,110,930	12,613,312	13,831,995	14,871,806	12,514,551	12,442,592
		Total	$29,035,942	25,892,141	21,739,135	24,869,094	20,777,174	19,183,003


	Per Capita Revenues by Source
		Property Tax	$400	400	397	396	405	449
		Utility	192	172	167	207	191	219
		Sales Tax	85	87	95	113	110	130
		Sales & Services	14	-	17	21	18	19
		Intergovernmental	130	178	138	117	116	117
		Debt Proceeds	10	99	9	10	11	9
		Other Miscellaneous	194	167	118	206	318	235
		Total	$1,025	1,103	941	1,070	1,169	1,178

	Per Capita Expenditures by Function
		Utility	$182	180	187	190	177	205
		Debt Service	108	103	113	189	118	171
		Transportation	265	186	105	110	130	137
		General Government	69	83	76	74	71	84
		Public Safety	267	282	255	328	256	274
		Other	271	208	192	193	225	248
		Total	$1,162	1,042	928	1,084	977	1,119

	Per Capita Expenditures by Object
		Salaries & Wages	$285	265	199	199	204	227
		Capital Outlay	352	269	131	237	184	166
		Other Operating	525	508	578	648	589	726
		Total	$1,162	1,042	908	1,084	977	1,119

	Population Group		Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999
		Number of Municipalites in Group	22	23	22	22	22	22
		Average Population In Group	22,715	20,466	20,622	22,003	21,233	20,452
		Town of Cornelius Population	24,984	24,847	23,929	22,946	21,256	17,144
	Group Average Per Capita Revenues by Source
		Property Tax	406	389	401	365	353	344
		Utility	2,103	1,830	1,741	1,897	1,838	1,897
		Sales Tax	126	129	143	154	155	149
		Sales & Services	112	112	106	102	99	91
		Intergovernmental	196	221	190	170	182	209
		Debt Proceeds	79	48	114	152	79	102
		Other Miscellaneous	99	150	327	279	287	167
		Total	3,121	2,879	3,022	3,119	2,993	2,959

	Group Average Per Capita Expenditures by Function
		Utility	1,936	1,782	1,815	1,907	1,817	1,915
		Debt Service	175	174	166	147	136	192
		Transportation	144	147	121	120	116	119
		General Government	130	183	184	157	136	134
		Public Safety	410	415	412	393	374	363
		Other	303	287	340	357	288	270
		Total	3,098	2,988	3,038	3,081	2,867	2,993

	Group Average Per Capita Expenditures by Object
		Salaries & Wages	641	644	628	623	586	561
		Capital Outlay	236	358	440	429	329	352
		Other Operating	2,221	1,986	1,969	2,028	1,952	2,080
		Total	3,098	2,988	3,037	3,080	2,867	2,993


General Fund Go to top of page			2011	2010	2009	2008	2007	2006
	General Fund revenues		$17,762,151	18,260,505	17,586,574	17,680,079	16,313,337	14,778,064
	General Fund expenditures		17,278,589	17,696,364	17,068,465	17,717,229	15,097,437	13,747,413
	Operating transfers in		11,131	-	-	-	-	-
	Operating transfers out		2,001,234	680,000	1,671,876	1,252,042	1,334,327	1,206,273
	Capital leases and installment purchase proceeds		110,000	399,553	544,665	1,750,000	475,670	410,000
	Other items		-	-	79,814	-	-	-
	Excess of revenues and other sources over (under) expenditures and other uses		(1,396,541)	283,694	(529,288)	460,808	357,243	234,378

	Fund balance available (FBA):
		In dollars	$0	9,564,737	8,970,029	9,782,762	9,352,225	9,388,238
		FBA as a % of GF Net Expenditures:
		Unit's FBA %	0.00	53.21	49.30	56.81	58.61	64.55
		Group weighted average FBA %	76.50	38.21	39.96	38.75	37.01	40.17
		State weighted average Electric Group	67.13	33.60	34.33	35.35	33.92	35.62
		State weighted average FBA %	29.01	37.47	37.03	36.35	36.54	36.96


Enterprise Funds: Go to top of page
	Electric

	Combined financial results:
		Working capital	$932,373	552,426	776,567	814,916	450,686	264,318
		Quick ratio	2.31	1.49	2.22	2.61	1.53	1.17
		Net income	351,456	258,789	42,120	986,764	430,060	216,253
		Cashflow from operations	732,584	480,665	413,596	1,177,885	673,824	464,606
		Depreciation & Amortization Expense	326,898	313,280	288,786	252,781	240,169	231,059



Cash, Investments and Financing Go to top of page			2011	2010	2009	2008	2007	2006

		Population at July 1st of the Previous Year	24,984	24,847	23,929	22,946	21,256	17,144
		Population Group	Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999	Electric 10,000 to 49,999
		Cash &Investments	$0	$18,175,028	$19,029,139	$16,777,632	$17,422,085	$11,948,210
		Investment Earnings	97,582	123,040	281,657	721,699	740,873	517,141
		Tax Rate Equivalent	0.0025	0.0032	0.0075	0.0200	0.0217	0.0163
		Tax Rate Equivalent Group weighted average	0.0064	0.0102	0.0304	0.0707	0.0793	0.0520
		Tax Rate Equivalent Statewide weighted average	0.0156	0.0247	0.0133	0.0524	0.0920	0.0573
		Latest year of Revaluation	2003	2003	2003	2003	2003	2003
		January 1, Prior Year Assessed Valuation	$3,849,696,032	3,848,974,435	3,753,766,045	3,601,984,969	3,408,181,329	3,163,928,940
		Tax Rate	0.2750	0.2750	0.2750	0.2750	0.2750	0.2600
		Tax Rate Group weighted average	0.4410	0.4364	0.4411	0.4498	0.4454	0.4425
		Tax Rate State Wide	0.4122	0.4090	0.4262	0.4238	0.4450	0.4321
		Assessment -to-Sales Ratio	96.00	88.93	82.90	87.33	93.76	95.06
		Assessment -to-Sales Ratio Group weighted average	101.31	96.93	88.67	87.55	90.13	92.19
		Assessment -to-Sales Ratio Statewide	101.47	98.27	90.81	88.53	88.41	92.28
		Assessed Valuation Adjusted for Assesment to Sales Ratio	$4,010,100,033	4,328,094,496	4,528,065,193	4,124,567,696	3,635,005,684	3,328,349,400
		EffectiveTax Rate	0.2640	0.2446	0.2280	0.2402	0.2578	0.2472
		Group weighted average Effective Tax Rate	0.4468	0.4230	0.3911	0.3938	0.4015	0.4080
		Statewide weighted average Effective Tax Rate	0.4183	0.4020	0.3870	0.3752	0.3934	0.3987
		Percent Collected	98.2900	98.1600	97.4000	97.8900	97.9800	97.9000
		Percent Collected Group weighted average	96.54	96.58	96.54	96.79	96.51	96.74
		Percent Collected Statewide	97.59	97.36	97.34	97.56	97.58	97.55
		Percent Collected Excluding Motor Vehicles	98.68	98.68	98.10	98.66	98.77	98.78
		Percent Collected Excluding Motor Vehicles Group weighted average	97.46	97.39	97.57	98.03	97.73	98.00
		Percent Collected Excluding Motor Vehicles Statewide weighted average	98.35	98.23	98.30	98.65	98.59	98.61
		Percent Collected Motor Vehicles Only	92.93	91.22	90.76	91.04	90.97	90.10
		Percent Collected Motor Vehicles Only Group weighted average	85.60	85.57	84.72	83.94	84.21	85.28
		Percent Collected Motor Vehicles Only Statewide weighted average	87.28	86.34	86.55	86.74	86.71	86.80
		Tax Uncollected	852,114	858,679	1,188,152	1,155,955	1,073,957	955,217
		Tax Rate Equivalent	0.0221	0.0223	0.0317	0.0321	0.0315	0.0302
		Dominant County: Mecklenburg
	Debt Information
		Population Group	10,000 to 24,999	10,000 to 24,999	10,000 to 24,999	10,000 to 24,999	10,000 to 24,999	10,000 to 24,999
		Ratings:
		Fitch	AA	AA	AA	AA	AA	AA
		Moody's
		S & P	AAA	AAA	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	$0	0	0	0	0	0
		General Government GO Debt	1,975,000	2,075,000	2,200,000	2,300,000	2,400,000	2,500,000
		Total General Obligation Debt	1,975,000	2,075,000	2,200,000	2,300,000	2,400,000	2,500,000
		Per Capita	$79	84	92	100	113	146
		Total Per Capita for the Population Group	111	132	130	153	166	163
		Total Per Capita Statewide	450	449	455	456	478	495
		Total per Assessed Valuation Adjusted for Current Year Sales	0.0493%	0.0479%	0.0486%	0.0558%	0.0660%	0.0751%
		Total per Assessed Valuation Adjusted for Current Year Sales- Group Average	0.1155%	0.1377%	0.1320%	0.1585%	0.1868%	0.1912%
		Total per Assessed Valuation Adjusted for Current Year Sales - Statewide	0.4280%	0.4134%	0.3909%	0.4132%	0.4706%	0.5275%
		Total Authorized but not Issued General Obligation Debt

		Installment Sales Purchases and Lease Obligations
		--Enterprise	$0	0	0	0	44,274	297,658
		--General Government	12,233,333	11,519,336	11,767,196	12,064,580	13,492,698	11,832,757
		Total*	$12,233,333	11,519,336	11,767,196	12,064,580	13,536,972	12,130,415
		* The total only includes the contracts that require Local Government Commission approval.
		Revenue Bond Debt	$0	0	0	0	0	0


Annual Financial Information Report Detail Go to top of page
Line	Section	Description	2011	2010	2009	2008	2007	2006
	Population at July 1st of the Previous Year Adjusted for Boundry Changes		24,984	24,847	23,929	22,946	21,256	17,144

1.5A	FISCAL	Governmental Activities Assets	57,995,076	55,622,742	52,150,866	47,912,925	49,430,304	42,878,221
1.5B	SUMMARY	Governmental Activities Liabilities	16,497,250	16,551,551	16,813,035	16,646,255	18,573,540	15,865,032
3.5A		Business Type Activities Assets	6,704,749	6,397,450	6,079,066	5,954,294	5,055,531	4,885,294
3.5B		Business Type Activities Liabilties	475,241	519,398	459,803	377,151	465,152	724,975
6.5A		Fiduciary Funds Assets
6.5B		Fiduciary Funds Liabilties
10.0	PART 2	Current Collections of Unit -Wide Levy	9,808,670	9,723,296	9,336,731	8,954,548	8,486,659	7,484,060
11.0	TAX	Current Collections of Special Tax Districts
12.0	REVENUES	Prior Years' Levy Collections	107,158	133,574	98,286	81,371	73,880	159,959
13.0		Penalties and Interest	67,444	74,017	58,353	52,962	50,020	56,769
14.0		Collections of Taxes Previously Written Off
15.0		Animal Tax	3,660
15.1		Solid Waste Disposal Tax	16,554	16,512	6,906
16.0		1% Local Government Option Sales Tax	1,051,931	1,090,892	1,140,356	1,338,780	1,208,262	1,131,620
17.0		1/2% Local Government Option Sales Tax (40)	352,491	348,209	367,865	390,760	351,669	318,441
18.0		1/2% Local Government Option Sales Tax (42)	509,643	475,240	362,091	384,953	346,526	314,273
18.5		1/2% Local Government Option Sales Tax (44)	210,072	251,771	403,946	481,846	434,326	452,932
19.0		Privilege Licenses		5,564	102,981	160,809	110,949	108,329
19.2		Privilege -- All other privileges and pemits	65,279	49,325
20.0		Auto Licenses	911,893	892,858	957,160	980,093	905,818	802,853
21.0		Vehicle Tax for Public Transportation
22.0		Other Licenses	19,280	20,059	19,697	32,096	103,848	151,850
23.0		Local Occupancy Tax	192,887	178,553	203,152	253,764	246,862	244,013
24.0		Prepared Food Tax	262,331	271,263	309,702	319,593	348,476	241,534
25.0		911 Charges					133,518	119,929
26.0		Gross Short Term lease and Rental Tax	177,719	151,347	168,656	190,905	145,032	53,923
27.0	FEDERAL	Payments In Lieu of Taxes - Federal
28.0	INTERGOV	Equitable Sharing of Fed. Forfeited Prop.	48,364
29.0	REVENUES	General Government
30.0		Public Safety
31.0		Transportation - Streets
32.0		Transportation - All Other
33.0		Environmental Protection
34.0		Econ. & Phys. Dev. - Housing/Comm. Dev.					552,718	99,000
35.0		Econ. & Phys. Dev. - All Other
36.0		Human Services: Health, Mental Hlt & Hosp
37.0		Human Services: All Other
38.0		Culture & Recreation		351,776
39.0	STATE	Payments In Lieu of Taxes - State
40.0	INTERGOV	Unauthorized Substance Tax	2,441	135,883	5,893	3,653	2,603	65,023
41.0	REVENUES	Transitional Hold Harmless
42.0		Wireless Enhanced 911 Service Charges			313,888	263,613	155,193	139,447
42.1		Emergency Telephone Services Fund (ETSF) Revenues (Do not include interest)	288,711	288,711
42.2		ETSF Interest Income	4,676	3,932
43.0		Piped Natural Gas Charge Distribution
44.0		Utility Franchise Tax	1,316,111	1,821,366	1,099,859	1,016,328	773,967	653,175
45.0		Beer and Wine Tax	109,510	34,316	103,050	97,914	77,403	71,674
46.0		Powell Bill	623,477	600,392	655,120	683,064	516,846	493,884
50.0		Court Fees - Facilities and Arrest Fees
51.0		General Government
52.0		Public Safety	171,818	309,685	418,445	287,043	228,316
53.0		Transportation - Streets
54.0		Transportation - All Other			30,691	12,538
55.0		Environmental Protection	13,825	39,466		37,684
56.0		Econ. & Phys. Dev. - Housing/Community Dev			172,866
57.0		Econ. & Phys. Dev. - All Other
58.0		Human Services -Health, Mental Health, Hosp
59.0		Human Services - All Other
60.0		Culture and Recreation	192,883	307,117		65,500	1,893	2,092
61.0	LOCAL	Payments in Lieu of Taxes - Local
62.0	INTERGOV	General Government
63.0	REVENUES	Public Safety	295,190	11,639	344,154			350,201
64.0		Transportation - Streets		360,985
65.0		Transportation - All Other					12,045
66.0		Environmental Protection
67.0		Economic and Physical Development	12,850	15,000		19,500		75,000
68.0		Human Services - Health, Mental Hlt & Hosp
69.0		Human Services - All Other
70.0		Culture and Recreation	5,000	4,583
71.0	PERMITS	Building Permits	35,894	54,007
72.0	& FEES	Inspection Fees
72.1		Amusements licensing and permit taxes
73.0		Other Permits			70,247	127,872	97,034	80,656
74.0	SALES &	Parking Revenues
75.0	SERVICES	Rents and Royalties	5,411	6,246	5,600	10,655	14,145	7,628
76.0		Airport
77.0		Fire Protection Charges
78.0		Solid Waste
79.0		Ambulance and Rescue Squad Charges
80.0		Cemeteries
81.0		Recreation Service Revenues	352,317		332,910	332,465	281,537	238,703
82.0		Library Service Revenues
83.0		Other Cultural and Rec Service Revenues
84.0		Mass Transit - City Operated
85.0		Other Sales and Services
86.0	UTILITY	Water and Sewer Charges
87.0	REVENUES	Electric Charges	4,786,903	4,267,380	3,998,099	4,753,904	4,050,721	3,760,433
88.0		Gas Charges
88.1		Storm Water Fees	360,157	344,023	339,817	312,484	297,598	279,751
89.0	MISC.	Investment Earnings - Bond Proceeds
90.0	REVENUES	Investment Earnings - All Other Funds	97,582	123,040	281,657	721,699	740,873	517,141
91.0		Special Assessments
92.0		Private Contributions and Donations	269,054	328,518		153,781	349,770	277,860
93.0		Sales of Materials and Fixed Assets	12,631	4,980		2,500
94.0		Sale of Real Property
95.0		Nongovt Contr For Streets & Traffic Signals
96.0		ABC Mixed Drink Surcharge
97.0		ABC Profit Distribution	55,260	52,632	70,750	44,625	42,500	42,500
98.0		Other Miscellaneous Revenues	243,202	380,665	206,123	235,585	241,150	157,864
99.0		Proceeds of Sale of Bonds and Notes		2,075,000
100.0		Proceeds of Capital Leases/Install Purchases	2,560,000	1,825,000	544,665	1,750,000	3,475,670	1,239,500
101.0		Other			79,814
102.0	NON-REV	School - Current Levy Collections	9,808,614	9,723,296	9,336,731	8,954,548	9,352,147	8,286,913
103.0	RECEIPTS	Prior Years' Levy Collections	107,106	133,574	98,178	81,371	114,211	159,959
104.0		Tax Collections for Other Units
105.0		Utilities Customer's Deposits	9,754	12,040	-1,106	7,917	4,281	-21,619
106.0		Deposits Other than Utility
107.0		Prepaid Taxes
108.0		Prepaid Privilege Licenses
109A	PART 4	Governing Body - Salaries & Wages	52,894	52,894	16,993	49,567	47,933	42,256
109B	GENERAL	Governing Body - Other Direct	14,772	15,902	52,051	18,767	16,564	18,196
109C	GOVT	Governing Body - Construction
109D		Governing Body - Purchase of P,P&E
110A		Administration - Salaries & Wages	1,026,171	1,007,937	712,630	699,135	691,134	598,990
110B		Administration - Other Direct	402,828	882,150	1,005,200	866,172	761,245	654,252
110C		Administration - Construction
110D		Administration - Purchase of P,P&E	141,543	120,743	52,309	45,098
111A		Elections - Salaries & Wages
111B		Elections - Other Direct
111C		Elections - Construction
111D		Elections - Purchase of P,P&E
112A		Finance - Salaries & Wages
112B		Finance - Other Direct
112C		Finance - Construction
112D		Finance - Purchase of P,P&E
113A		Taxes - Salaries & Wages
113B		Taxes - Other Direct
113C		Taxes - Construction
113D		Taxes - Purchase of P,P&E
114A		Legal - Salaries & Wages
114B		Legal - Other Direct
114C		Legal - Construction
114D		Legal - Purchase of P,P&E
115A		Public Buildings - Salaries & Wages
115B		Public Buildings - Other Direct
115C		Public Buildings - Construction
115D		Public Buildings - Purchase of P,P&E
116A		Court Facilities - Salaries & Wages
116B		Court Facilities - Other Direct
116C		Court Facilities - Construction
116D		Court Facilities - Purchase of P,P&E
117A		Central Services - Salaries & Wages
117B		Central Services - Other Direct
117C		Central Services - Construction
117D		Central Services - Purchase of P,P&E
118A		Gen. Govt. All Other - Salaries & Wages
118B		Gen. Govt. All Other - Other Direct	68,771					121,861
118C		Gen. Govt. All Other - Construction
118D		Gen. Govt. All Other - Purchase of P,P&E
119A	PUBLIC	Police & Comm - Traffic Control - Salaries and Wages	3,189,112	2,853,738	1,918,224	1,835,404	1,816,989	1,647,253
119B	SAFETY	Police & Comm - Traffic Control - Other Direct	697,708	716,085	1,180,689	1,005,819	996,921	1,029,449
119C		Police & Comm - Traffic Control - Construction
119D		Police & Comm - Traffic Control - Purchase of P,P&E	225,904	654,702	468,971	287,802	28,224
120A		Emergency Communications - Salaries & Wages			432,005	447,619	390,897	382,667
120B		Emergency Communications - Other Direct			283,766	314,615	284,922	284,093
120C		Emergency Communications - Construction
120D		Emergency Communications - Purchase of P,P&E			68,341	63,082
120B		Emergency Telephone Service Fund (ETSF) Expenditures - Operating	61,284	82,490
120C		ETSF Expenditures - Capital Construction
120D		ETSF Expenditures - Capital Purchases	193,863
121A		Emergency Mgmt - Salaries & Wages
121B		Emergency Mgmt - Other Direct
121C		Emergency Mgmt - Construction
121D		Emergency Mgmt - Purchase of P,P&E
122A		Fire - Salaries & Wages
122B		Fire - Other Direct	1,063,000	953,000	1,021,000	900,000	1,286,670	782,423
122C		Fire - Construction					461,582
122D		Fire - Purchase of P,P&E	39,820	372,322	64,585	2,477,128		410,000
123A		Inspectors - Salaries & Wages
123B		Inspectors - Other Direct
123C		Inspectors - Construction
123D		Inspectors - Purchase of P,P&E
124A		Rescue Units - Salaries & Wages
124B		Rescue Units - Other Direct
124C		Rescue Units - Construction
124D		Rescue Units - Purchase of P,P&E
125A		Animal Control - Salaries & Wages	99,599	80,696	41,213	39,650	38,583	37,129
125B		Animal Control - Other Direct	63,989	39,881	28,034	26,194	25,194	23,432
125C		Animal Control - Construction			467,253
125D		Animal Control - Purchase of P,P&E	10,500	216,097		4,937
126A		Pub. Safety All Other - Salaries & Wages	663,802	608,531
126B		Pub. Safety All Other - Other Direct	65,956	58,448
126C		Pub. Safety All Other - Construction
126D		Pub. Safety All Other - Purchase of P,P&E	174,649	244,427
127A	TRANSPOR	Traffic Engineering - Salaries & Wages
127B	TATION	Traffic Engineering - Other Direct
127C		Traffic Engineering - Construction
127D		Traffic Engineering - Purchase of P,P&E
128A		Streets and Highways - Salaries & Wages	445,815	443,043	353,762	343,155	317,967	314,856
128B		Streets and Highways - Other Direct	622,216	609,534	631,480	620,077	633,010	918,342
128C		Streets and Highways - Construction	4,761,750	2,751,924		352,425	349,734	525,822
128D		Streets and Highways - Purchase of P,P&E	212,228	394,177	824,360	282,837	534,602	403,857
129A		Street Cleaning - Salaries & Wages
129B		Street Cleaning - Other Direct
129C		Street Cleaning - Construction
129D		Street Cleaning - Purchase of P,P&E
130A		Powell Bill - Salaries & Wages
130B		Powell Bill - Other Direct	112,388	84,190	57,343	131,018	34,746	27,463
130C		Powell Bill - Construction		242,892	616,461	790,681	891,338	166,919
130D		Powell Bill - Purchase of P,P&E	383,368			11,670
131A		Parking Facilities - Salaries & Wages
131B		Parking Facilities - Other Direct
131C		Parking Facilities - Construction
131D		Parking Facilities - Purchase of P,P&E
132A		Mass Transit - City - Salaries & Wages
132B		Mass Transit - City - Other Direct
132C		Mass Transit - City - Construction
132D		Mass Transit - City - Purchase of P,P&E
133B		Mass Transit - Private - Other Direct
134A		Airport - Salaries & Wages
134B		Airport - Other Direct
134C		Airport - Construction
134D		Airport - Purchase of P,P&E
135A		Transpor. All Other - Salaries & Wages
135B		Transpor. All Other - Other Direct	87,361	93,320	21,936
135C		Transpor. All Other - Construction
135D		Transpor. All Other - Purchase of P,P&E
136A	ENVIRON	Solid Waste - Salaries & Wages
136B	MENTAL	Solid Waste - Other Direct	1,697,817	1,752,431	1,847,025	1,642,079	1,322,537	1,246,660
136C	PROTECTION	Solid Waste - Construction
136D		Solid Waste - Purchase of P,P&E
137A		Drainage & Watershed - Salaries & Wages
137B		Drainage & Watershed - Other Direct				28,020	21,950	19,026
137C		Drainage & Watershed - Construction				54,500	10,000	17,756
137D		Drainage & Watershed - Purchase of P,P&E
138A		Cemeteries - Salaries & Wages
138B		Cemeteries - Other Direct
138C		Cemeteries - Construction
138D		Cemeteries - Purchase of P,P&E
139A		Environ. All Other - Salaries & Wages
139B		Environ. All Other - Other Direct
139C		Environ. All Other - Construction
139D		Environ. All Other - Purchase of P,P&E
140A	ECONOMIC	Planning & Zoning - Salaries & Wages	446,981	371,848	334,807	285,073	240,028	214,765
140B	& PHYSICAL	Planning & Zoning - Other Direct	174,415	110,567	260,029	281,240	200,813	159,436
140C	DEVELOP	Planning & Zoning - Construction
140D		Planning & Zoning - Purchase of P,P&E					18,236
141A		Economic Development - Salaries & Wages
141B		Economic Development - Other Direct
141C		Economic Development - Construction
141D		Economic Development - Purchase of P,P&E
142A		Community Development - Salaries & Wages
142B		Community Development - Other Direct
142C		Community Development - Construction
142D		Community Development - Purchase of P,P&E
143A		Housing & Urban Renewal - Salaries & Wages
143B		Housing & Urban Renewal - Other Direct
143C		Housing & Urban Renewal - Construction					554,353	222,670
143D		Housing & Urban Renewal - Purchase of P,P&E
144A		Special Empl Programs - Salaries & Wages
144B		Special Empl Programs - Other Direct
144C		Special Empl Programs - Construction
144D		Special Empl Programs - Purchase of P,P&E
145A		Econ. Dev. All Other - Salaries & Wages					7,069	16,482
145B		Econ. Dev. All Other - Other Direct			559,588	584,254	551,799	499,829
145C		Econ. Dev. All Other - Construction				6,300
145D		Econ. Dev. All Other - Purchase of P,P&E
146A	HUMAN	Health - Salaries & Wages
146B	SERVICES	Health - Other Direct
146C		Health - Construction
146D		Health - Purchase of P,P&E
147A		Mental Health - Salaries & Wages
147B		Mental Health - Other Direct
147C		Mental Health - Construction
147D		Mental Health - Purchase of P,P&E
148A		Social Services - Salaries & Wages
148B		Social Services - Other Direct
148C		Social Services - Construction
148D		Social Services - Purchase of P,P&E
149B		Hospital-City - Other Direct
150B		Hospital-Private - Other Direct
151A		Legal Aid - Salaries & Wages
151B		Legal Aid - Other Direct
151C		Legal Aid - Construction
151D		Legal Aid - Purchase of P,P&E
152A		Human Serv. All Other - Salaries & Wages
152B		Human Serv. All Other - Other Direct
152C		Human Serv. All Other - Construction
152D		Human Serv. All Other - Purchase of P,P&E
153A	CULTURE	Recreation & Parks - Salaries & Wages	761,393	708,396	553,289	508,516	462,978	370,819
153B	RECREATION	Recreation & Parks - Other Direct	625,175	613,583	742,745	829,821	713,278	633,926
153C		Recreation & Parks - Construction	2,331,183	996,120			487,663	3,952
153D		Recreation & Parks - Purchase of P,P&E		44,059	300,426	212,699		853,079
154A		Coliseum - Salaries & Wages
154B		Coliseum - Other Direct
154C		Coliseum - Construction
154D		Coliseum - Purchase of P,P&E
155A		Museums - Salaries & Wages
155B		Museums - Other Direct
155C		Museums - Construction
155D		Museums - Purchase of P,P&E
156A		Libraries - Salaries & Wages
156B		Libraries - Other Direct	175,000
156C		Libraries - Construction
156D		Libraries - Purchase of P,P&E
157A		Cult. & Recr. All Other - Salaries & Wages
157B		Cult. & Recr. All Other - Other Direct	565,834	561,843
157C		Cult. & Recr. All Other - Construction					200,489
157D		Cult. & Recr. All Other - Purchase of P,P&E
158A	UTILITY	Water & Sewer - Salaries & Wages
158B		Water & Sewer - Other Direct
158C		Water & Sewer - Construction
158D		Water & Sewer - Purchase of P,P&E
159A		Electric Power - Salaries & Wages	384,183	377,709	410,462	356,870	331,916	263,842
159B		Electric Power - Other Direct	3,713,682	3,302,508	3,251,173	3,163,159	3,045,811	3,003,363
159C		Electric Power - Construction
159D		Electric Power - Purchase of P,P&E	298,408	654,084	719,256	843,140	380,908	247,297
160A		Natural Gas - Salaries & Wages
160B		Natural Gas - Other Direct
160C		Natural Gas - Construction
160D		Natural Gas - Purchase of P,P&E
161.1A		Storm Water - Salaries & Wages
161.1B		Storm Water - Other Direct	141,031	149,809	62,993
161.1C		Storm Water - Construction			19,046
161.1D		Storm Water - Purchase of P,P&E	20,562
161B	DEBT	Water & Sewer - Interest & Fees
161D	SERVICE	Water & Sewer - Principal
162B		Electric - Interest & Fees	13,000	17,000	8,933	4,441	17,873	55,501
162D		Electric - Principal			80,000	45,127	337,071	264,014
163B		Gas - Interest & Fees
163D		Gas - Principal
164B		School - Interest & Fees
164D		School - Principal
165B		Hospital - Interest & Fees
165D		Hospital - Principal
166B		All Other - Interest & Fees	472,561	590,266	554,222	668,321	570,243	607,311
166D		All Other - Principal	2,207,773	1,948,290	2,051,221	3,612,865	1,578,951	1,998,532
167B	PENSION	Direct Benefit Program - Other Direct
168B	FRINGE	Fringe Benefits Unallocated
169B		Separation Allowance - Law Enforcement	18,485	17,777	32,537	47,617	31,663	16,880
170B		Separation Allowance - Other Employees
171B		Supplemental Retirement - Law Enforcement	107,168	96,728	100,030	82,200	83,290	78,603
172B		Fringe Benefits Other
173A	INTERGOV	Multi-Cnty Libr Dis,Cnty,Or Other - Recipient
173B	EXPEND	Multi-Cnty Libr Dis,Cnty,Or Other - Item #
173C		Multi-Cnty Libr Dis,Cnty,Or Other - Amount
174A		Gen Gov Activities Shared W/ Cnty - Recipient
174B		Gen Gov Activities Shared W/ Cnty - Item #
174C		Gen Gov Activities Shared W/ Cnty - Amount
175A		Highways (Payments to State) - Recipient
175B		Highways (Payments to State) - Item No.
175C		Highways (Payments to State) - Amount
176A		Other - Intergovt. Expenditures - Recipient
176B		Other - Intergovt. Expenditures - Item #
176C		Other - Intergovt. Expenditures - Amount
177A		Other - Intergovt. Expenditures - Recipient
177B		Other - Intergovt. Expenditures - Item #
177C		Other - Intergovt. Expenditures - Amount
178A		Other - Intergovt. Expenditures - Recipient
178B		Other - Intergovt. Expenditures - Item #
178C		Other - Intergovt. Expenditures - Amount
179.0		Current year's levy -- Excluding motor vehicles	9,947,158.	9,879,844.00	9,560,251.00	9,140,373.00	8,631,601.00	7,602,920.00
180.0		Current year's levy -- Motor vehicles (only)	720,813.	727,858.00	1,006,444.00	1,033,558.00	967,425.00	862,684.00
181.0	PART 6	Uncollected Taxes - Current Year's Levy Except Mot Veh	131,301.	130,821.00	181,708.00	122,397.00	106,532.00	92,533.00
182.0	OTHER	Uncollected Taxes - CY Levy -Motor Vehicles	50,987	63,893	93,014	92,616	87,313	85,434
183.0	DATA	Percentage of Taxes Collected - All Property %	98.29	98.16	97.40	97.89	97.98	97.90
184.0	DATA	Percentage of Taxes Collected - Exclude Motor Vehicles%	98.68	98.68	98.10	98.66	98.77	98.78
185.0		Percentage of Taxes Collected - Motor Vehicles %	92.93	91.22	90.76	91.04	90.97	90.10
186.0		Ttl Amt Salaries/Wages for Construction
187A		Capital Reserve Schools - July 1, 2009
187B		Capital Reserve Schools - June 30, 2010
188A		Capital Reserve Hospitals - July 1, 2009
188B		Capital Reserve Hospitals - June 30, 2010
189A	PART 7	Cash On Hand & in Bank - Debt Service
189B	CASH &	Cash On Hand & in Bank - Construction Bond
189C	INVEST	Cash On Hand & in Bank - All Other		18,175,028	19,029,139	16,777,632	17,422,085	11,948,210
190A	PART	Appropriations Made During FY - B(1) - B(7)
190B	8	Expenditures Made During FY - B(1) - B(7)
191.0		Investment in Property - B(1) - B(4)
192.0		Amount Expended During FY - B(5) and B(7)
193.0		Amount of Tax Revenues Taken Into Account
194A	PART 9	Amount - Total Revenues	32,412,644	28,208,822	24,281,406	25,806,929	26,192,154	21,398,290
194B	FISCAL	Amount - Subtract Refunding Bond Proceeds
194C	SUMMARY	Amount - Subtract Interfund Transfers In	6,792,365	780,000	1,671,876	1,252,042	1,334,327	1,206,273
194D		Amount - Net Revenues	25,620,279	27,428,822	22,609,530	24,554,887	24,857,827	20,192,017
		Calculated amount	25,620,279	27,428,822	22,609,530	24,554,887	24,857,827	20,192,017
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference
195A		Amount - Total Expenditures	35,828,307	26,672,141	23,878,264	26,121,136	22,111,501	20,389,276
195B		Amount - Subtract Pymts. to Refunded Debt Agent
195C		Amount - Subtract Interfund Transfers Out	6,792,365	780,000	1,671,876	1,252,042	1,334,327	1,206,273
195D		Amount - Net Expenditures	29,035,942	25,892,141	22,206,388	24,869,094	20,777,174	19,183,003
		Calculated amount	29,035,942	25,892,141	22,206,388	24,869,094	20,777,174	19,183,003
		Amounts in AGREEMENT??	Yes	Yes	Yes	Yes	Yes	Yes
		Difference

401A	Part 10	Number of residential accounts billed Water
401B	Water /	Number of residential accounts billed Sewer
402A	Sewer	Amount processed and/or purchased in units Water
402B	Operations	Amount processed and/or purchased in units Sewer
403A		Total amount billed in units - Water
403B		Total amount billed in units - Sewer
404A		Of the total in 403A above how many units were Residential W
404B		Of the total in 403B above how many units were Residential S
405A		Of the total in 403 above, how many units were Outside Muni W
405B		Of the total in 403 above, how many units were Outside Muni S
406A		Of the total in 405A above how many units were Residential W
406B		Of the total in 405B above how many units were Residential S
407A		Of the total in 403A, how many units were sold for redistribution
407B		Of the total in 403B how many unit were delivered in bulk
408A		Dollars related to 403A above
408B		Dollars related to 403B above
409A		Dollars related to 404A above
409B		Dollars related to 404B above
410A		Dollars related to 405A above
410B		Dollars related to 405B above
411A		Dollars related to 406A above
411B		Dollars related to 406B above
412A		Dollars related to 407A above
412B		Dollars related to 407B above
421A		Number of residential accounts billed - Water
421B		Number of residential accounts billed - Sewer
422A		Number of non-residential & bulk accounts billed - Water
422B		Number of non-residential & bulk accounts billed - Sewer	2	2	2	2	2	2
423A		Estimated percentage of accounts outside of municipal limits



950.0		Official	Julie Niswonger
951.0		Title	Accountant
952.0		Date	12/07/2011	11/24/2010	12/21/2009	02/04/2009	12/21/2007	11/01/2006
953.0		Contact	Julie Niswonger
954.0		Title	Accountant
955.0		Phone	704-892-6031
956.0		Fax	704-896-2465
957.0		E-Mail:

Go to top of page Key Ratios of Electric Systems for The
Town of Cornelius

	2011	2010	2009	2008	2007	2006

Population	24,984	24,847	23,929	22,946	21,256	17,144
Power Agency Group	N.C. Municipal Power Agency Number 1
Total Operating Revenues	$4,786,903	4,267,380	3,998,099	4,753,904	4,050,721	3,760,433
Group Weighted Average	17,307,416	19,972,911	19,086,441	19,247,063	18,178,758	17,456,939

% to Total Operating Revenues
Power Purchases	0.0%	69.8%	69.5%	57.7%	67.8%	71.6%
Group Weighted Average	8.7%	79.2%	79.4%	78.1%	78.6%	81.7%

Other Operating Expenses	92.4%	23.8%	29.3%	21.6%	21.6%	21.4%
Group Weighted Average	86.0%	16.6%	18.9%	17.4%	18.6%	17.9%

Operating Margin	7.6%	6.4%	1.2%	20.6%	10.7%	7.0%
Group Weighted Average	5.3%	4.2%	1.7%	4.5%	2.9%	0.3%

Operating Transfers In	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Group Weighted Average	1.0%	0.2%	0.2%	0.2%	1.9%	0.3%

Operating Transfers Out	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Group Weighted Average Out	2.8%	2.4%	3.3%	2.9%	2.6%	2.2%

Net Income	7.3%	6.1%	1.1%	20.8%	10.6%	5.8%
Group Weighted Average	5.2%	2.1%	-1.1%	4.0%	5.6%	-0.2%

Key Ratios and Cash Flow

Quick Ratio	2.3	1.5	2.2	2.6	1.5	1.2
Group Weighted Average	4.3	3.7	3.9	3.8	4.1	4.0

Coverage Ratio	0.00	1.15	1.12	1.43	1.11	1.01
Group Weighted Average	2.02	1.06	1.02	1.09	1.09	1.03

Days Sales in Receivables	0.0	56.0	49.0	36.7	40.4	44.8
Group Weighted Average	468.8	38.1	34.8	35.5	34.8	31.5

Days Cash on Hand	73.4	59.1	64.2	58.8	36.8	44.3
Group Weighted Average	168.4	108.4	104.7	112.9	107.1	123.8

Cash flow from Operations	$732,584	480,665	413,596	1,177,885	673,824	464,606

Capital Expenditures:	$0	0	0	0	0	0


	2011	2010	2009	2008	2007	2006
Capital Contributions: Excluded from Income Above	$0	0	0	0	0	0

Operating Transfers to the General Fund as a % of GF Revenues	2011	2010	2009	2008	2007	2006
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

	2005	2004	2003	2002	2001	2000
	0.09%	0.09%	0.07%	0.10%	0.11%	0.17%

Gross Electric Fund Assets as Cost	$8,635,183	8,336,776	7,890,566	7,020,455	6,571,540	6,190,632
Estimated Tax Loss from Municipal Ownership of Utility	$23,747	$22,926	21,699	19,306	18,072	16,096
Tax Rate Equivalent	0.0006	0.0006	0.0006	0.0005	0.0005	0.0005

Operating Transfers to the General Fund as a % of Gross Fixed Assets	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Operating Transfers to the General Fund as a Tax Rate Equivalent	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000

Tax Rate Adjusted for Assessed to Sales Ratio	0.2640	0.2446	0.2280	0.2402	0.2578	0.2472

Tax Rate Adjusted Excluding Transfers	0.2640	0.2446	0.2280	0.2402	0.2578	0.2472

Weighted Average Group Rate Adjusted	0.4468	0.4230	0.3911	0.3938	0.4015	0.4080

Weighted Average Non Electric Adjusted Rate	0.4263	0.4191	0.4007	0.4107	0.4309	0.4353

Financial Graphs and Comparisons

Analysis of Available Fund Balance: General Fund
Analysis of Property Tax Collection %
Analysis of General Obligation Debt
Analysis of Revenue (5 years)
Analyis of Revenue (most recent fiscal year)
Analysis of Expenditures by Function
Analysis of Expenditures by Object

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Analysis of Available Fund Balance: General Fund

	2007	2008	2009	2010	2011
Unit's FBA %	58.61%	56.81%	49.30%	53.21%	0.00%
Group average FBA %	37.01%	38.75%	39.96%	38.21%	76.50%
State average Electric/Non Electric Group FBA %	33.92%	35.35%	34.33%	33.60%	67.13%
State average FBA %	36.54%	36.35%	37.01%	37.47%	29.01%

Municipal Population Group: Electric 10,000 to 49,999

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2007 2008 2009 2010 2011

Municipality 97.98% 97.89% 97.40% 98.16% 98.29%

Pop. Group 96.51% 96.79% 96.54% 96.58% 96.54%

Statewide 97.58% 97.56% 97.34% 97.36% 97.59%

Municipal Population Group: Electric 10,000 to 49,999

	2007	2008	2009	2010	2011
Municipality	97.98%	97.89%	97.40%	98.16%	98.29%
Pop. Group	96.51%	96.79%	96.54%	96.58%	96.54%
Statewide	97.58%	97.56%	97.34%	97.36%	97.59%

Municipal Population Group: Electric 10,000 to 49,999

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2007 2008 2009 2010 2011

Municipality 113 100 92 84 79

Pop. Group 166 153 130 132 111

Statewide 478 456 455 449 450

Municipal Population Group: 10,000 to 24,999

	2007	2008	2009	2010	2011
Municipality	113	100	92	84	79
Pop. Group	166	153	130	132	111
Statewide	478	456	455	449	450

Municipal Population Group: 10,000 to 24,999

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2007 2008 2009 2010 2011

Property Tax $405 396 397 400 400

Utility 191 207 167 172 192

Sales Tax 110 113 95 87 85

Sales & Services 18 21 17 0 14

Intergovernmental 116 117 138 178 130

Debt Proceeds 11 10 9 99 10

Other Miscellaneous 318 206 118 167 194

Total $1,169 1,070 941 1,103 1,025

	2007	2008	2009	2010	2011
Property Tax	$405	396	397	400	400
Utility	191	207	167	172	192
Sales Tax	110	113	95	87	85
Sales & Services	18	21	17	0	14
Intergovernmental	116	117	138	178	130
Debt Proceeds	11	10	9	99	10
Other Miscellaneous	318	206	118	167	194
Total	$1,169	1,070	941	1,103	1,025

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2011
2011

Category Revenue
Per Capita

Property Tax $9,983,272
$400

Water/Sewer 0
0

Electric 0
0

Utility 4,786,903
192

Sales Tax 2,124,137
85

Sales & Services 357,728
14

Intergovernment 3,257,575
130

Debt Proceeds 243,202
10

Miscellaneous 4,850,908
194

Total $25,603,725
$1,025

Municipal Population Group: Electric 10,000 to 49,999

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2011
2011

Category Expenditures
Per Capita

General Government $1,706,979
$69

Water/Sewer 565,834
23

Electric 0
0

Other Utilities 3,992,032
160

Debt Service 2,693,334
108

Transportation 6,625,126
265

Public Safety 6,674,839
267

Other 6,777,798
271

Total $29,035,942
$1,162

Municipal Population Group: Electric 10,000 to 49,999

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2011
2011

Category Expenditures
Per Capita

Salaries & Wages $7,131,234
$285

Water/Sewer Capital 0
0

Electric Capital 0
0

Capital Outlay 8,793,778
352

Other Operating 13,110,930
525

Total $29,035,942
$1,162

Municipal Population Group: Electric 10,000 to 49,999

Last Updated 2/7/2012 2:17:15 PM



	2011	2011
Category	Revenue	Per Capita
Property Tax	$9,983,272	$400
Water/Sewer	0	0
Electric	0	0
Utility	4,786,903	192
Sales Tax	2,124,137	85
Sales & Services	357,728	14
Intergovernment	3,257,575	130
Debt Proceeds	243,202	10
Miscellaneous	4,850,908	194
Total	$25,603,725	$1,025

Municipal Population Group: Electric 10,000 to 49,999

North CarolinaDepartment of State TreasurerFinancial InformationTown of Cornelius

Financial Graphs and Comparisons

North Carolina
Department of State Treasurer
Financial Information
Town of Cornelius