North Carolina
Department of State Treasurer
Financial Information
Town of Mount Pleasant

Financial Profile | General Fund | Enterprise Funds | Cash, Investments and Financing
Annual Financial Information Report Detail | Water/Sewer Information
Financial Graphs and Comparisons
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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	$532,983	530,185	487,593	424,914	409,249	407,333
		Utility	999,205	1,017,791	923,518	866,671	789,245	758,896
		Sales Tax	199,435	188,592	171,187	163,758	118,439	120,175
		Sales & Services	264,074	230,038	217,384	175,010	169,618	157,435
		Intergovernmental	150,924	498,185	167,049	120,381	125,193	110,092
		Debt Proceeds	-	-	-	-	-	-
		Other Miscellaneous	562,902	49,464	49,507	1,784,282	144,833	43,908
		Total	$2,709,523	2,514,255	2,016,238	3,535,016	1,756,577	1,597,839

	Expenditures by Function
		Utility	$595,289	619,413	598,768	1,937,703	708,786	542,921
		Debt Service	357,167	392,121	311,860	271,396	194,143	194,132
		Transportation	147,239	84,401	386,594	170,480	95,922	105,184
		General Government	346,513	317,673	256,931	230,486	218,116	196,447
		Public Safety	833,673	690,213	277,352	507,337	211,499	205,202
		Other	125,497	103,721	89,650	106,425	91,137	77,084
		Total	$2,405,378	2,207,542	1,921,155	3,223,827	1,519,603	1,320,970

	Expenditures by Object
		Salaries & Wages	$273,537	207,880	217,604	169,344	279,998	274,666
		Capital Outlay	569,089	481,720	163,151	1,780,980	190,139	97,234
		Other Operating + Debt Service	1,562,752	1,517,942	1,540,400	1,273,503	1,049,466	949,070
		Total	$2,405,378	2,207,542	1,921,155	3,223,827	1,519,603	1,320,970


	Per Capita Revenues by Source
		Property Tax	$364	374	352	313	308	314
		Utility	682	718	666	639	594	585
		Sales Tax	135	133	123	121	89	92
		Sales & Services	180	162	157	129	128	121
		Intergovernmental	103	352	121	89	94	85
		Debt Proceeds	-	-	-	-	-	-
		Other Miscellaneous	384	35	36	1,316	109	34
		Total	$1,848	1,774	1,455	2,607	1,322	1,231

	Per Capita Expenditures by Function
		Utility	$406	437	432	1,429	533	418
		Debt Service	244	277	225	200	146	150
		Transportation	100	60	279	126	72	81
		General Government	236	224	185	170	164	152
		Public Safety	569	487	200	374	159	158
		Other	86	73	65	78	69	59
		Total	$1,641	1,558	1,386	2,377	1,143	1,018

	Per Capita Expenditures by Object
		Salaries & Wages	$187	147	157	125	211	212
		Capital Outlay	388	340	118	1,313	143	75
		Other Operating	1,066	1,071	1,111	939	789	731
		Total	$1,641	1,558	1,386	2,377	1,143	1,018

	Population Group		No Electric 1,000 to 2,499	No Electric 1,000 to 2,499	No Electric 1,000 to 2,499	No Electric 1,000 to 2,499	No Electric 1,000 to 2,499	No Electric 1,000 to 2,499
		Number of Municipalites in Group	101	103	103	107	108	108
		Average Population In Group	1,642	1,638	1,632	1,628	1,613	1,606
		Town of Mount Pleasant Population	1,466	1,417	1,386	1,356	1,329	1,298
	Group Average Per Capita Revenues by Source
		Property Tax	343	348	331	319	306	290
		Utility	399	391	374	340	333	315
		Sales Tax	182	179	172	157	133	123
		Sales & Services	72	72	71	64	61	57
		Intergovernmental	206	246	220	257	307	338
		Debt Proceeds	65	170	89	82	56	109
		Other Miscellaneous	183	160	125	137	126	120
		Total	1,450	1,566	1,382	1,356	1,322	1,352

	Group Average Per Capita Expenditures by Function
		Utility	435	487	425	445	432	462
		Debt Service	103	108	107	86	103	93
		Transportation	134	131	132	139	108	114
		General Government	186	221	193	174	180	169
		Public Safety	323	326	294	315	264	259
		Other	190	206	170	159	169	243
		Total	1,371	1,479	1,321	1,318	1,256	1,340

	Group Average Per Capita Expenditures by Object
		Salaries & Wages	400	402	397	376	351	342
		Capital Outlay	284	373	283	317	298	385
		Other Operating	687	704	641	625	607	613
		Total	1,371	1,479	1,321	1,318	1,256	1,340


General Fund Go to top of page			2007	2006	2005	2004	2003	2002
	General Fund revenues		$1,180,228	1,487,684	1,085,318	910,540	870,077	826,245
	General Fund expenditures		1,559,377	1,333,888	1,148,406	1,230,747	755,448	722,692
	Operating transfers in		28,950	-	-	-	-	1,500
	Operating transfers out		-	-	-	-	-	-
	Capital leases and installment purchase proceeds		514,104	-	-	-	-	-
	Other items		-	-	-	371,000	-	8,000
	Excess of revenues and other sources over (under) expenditures and other uses		163,905	153,796	(63,088)	50,793	114,629	113,053

	Fund balance available (FBA):
		In dollars	$754,942	607,496	454,096	557,567	512,234	390,201
		FBA as a % of GF Net Expenditures:
		Unit's FBA %	72.22	45.54	39.54	45.30	67.81	53.99
		Group weighted average FBA %	66.27	65.21	69.64	70.93	74.33	70.08
		State weighted average Non-Electric Group	37.15	36.43	36.89	36.42	36.42	36.10
		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

	Combined financial results:
		Working capital	$1,028,708	892,212	747,575	812,137	493,356	510,536
		Quick ratio	4.82	4.39	3.97	5.32	6.00	6.56
		Net income	236,305	239,747	202,083	322,599	225,490	236,544
		Cashflow from operations	399,098	394,794	380,322	351,826	311,980	187,293
		Depreciation & Amortization Expense	80,347	80,347	71,406	34,782	22,868	22,349



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

		Population at July 1st of the Previous Year	1,466	1,417	1,386	1,356	1,329	1,298
		Population Group	No Electric 1,000 to 2,499	No Electric 1,000 to 2,499	No Electric 1,000 to 2,499	No Electric 1,000 to 2,499	No Electric 1,000 to 2,499	No Electric 1,000 to 2,499
		Cash &Investments	$1,990,012	1,718,981	1,493,413	1,520,472	1,234,924	926,300
		Investment Earnings	24,017	11,380	11,581	7,434	8,087	6,735
		Tax Rate Equivalent	0.0202	0.0096	0.0103	0.0075	0.0082	0.0072
		Tax Rate Equivalent Group weighted average	0.0403	0.0283	0.0164	0.0094	0.0147	0.0281
		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	$118,753,091	118,248,842	112,304,352	98,482,423	98,808,050	93,411,666
		Tax Rate	0.4400	0.4400	0.4200	0.4200	0.4200	0.4200
		Tax Rate Group weighted average	0.3424	0.3297	0.3306	0.3386	0.3479	0.3477
		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	79.96	85.71	86.82	87.25	85.88	86.38
		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	$123,662,492	120,257,136	112,304,352	110,097,734	105,092,587	96,469,757
		EffectiveTax Rate	0.4225	0.4327	0.4200	0.3757	0.3949	0.4067
		Group weighted average Effective Tax Rate	0.2737	0.2826	0.2870	0.2954	0.2988	0.3004
		Statewide weighted average Effective Tax Rate	0.3939	0.3987	0.4108	0.4209	0.4113	0.4087
		Percent Collected	98.10	98.16	97.86	97.48	97.07	96.48
		Percent Collected Group weighted average	97.78	96.94	96.84	96.44	96.05	96.26
		Percent Collected Statewide	97.84	97.55	97.42	97.31	96.96	97.05
		Percent Collected Excluding Motor Vehicles	99.05	99.27	98.48	98.42	98.35	97.67
		Percent Collected Excluding Motor Vehicles Group weighted average	98.00	97.76	97.85	97.46	97.17	97.77
		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	90.07	89.19	92.10	90.34	87.86	88.01
		Percent Collected Motor Vehicles Only Group weighted average	85.92	85.54	86.22	84.94	84.60	84.56
		Percent Collected Motor Vehicles Only Statewide weighted average	86.72	86.80	87.31	87.62	86.77	87.42
		Tax Uncollected	5,651	9,716	10,373	10,462	11,950	14,037
		Tax Rate Equivalent	0.0048	0.0082	0.0092	0.0106	0.0121	0.0150
		Dominant County: Cabarrus
	Debt Information
		Population Group	1,000 to 2,499	1,000 to 2,499	1,000 to 2,499	1,000 to 2,499	1,000 to 2,499	1,000 to 2,499
		Ratings:
		Fitch
		Moody's
		S & P

		General Obligation Debt (GO) where the taxing power of the entrire municipality is pledged to pay the obligation
		Enterprise GO Debt	$50,100	95,500	136,600	173,800	207,400	237,800
		General Government GO Debt	0	0	0	0	0	0
		Total General Obligation Debt	50,100	95,500	136,600	173,800	207,400	237,800
		Per Capita	$34	67	99	128	156	183
		Total Per Capita for the Population Group	294	297	306	297	307	319
		Total Per Capita Statewide	474	495	505	548	590	585
		Total per Assessed Valuation Adjusted for Current Year Sales	0.0405%	0.0794%	0.1216%	0.1579%	0.1973%	0.2465%
		Total per Assessed Valuation Adjusted for Current Year Sales- Group Average	0.2336%	0.2606%	0.2847%	0.2930%	0.3169%	0.3518%
		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	$0	0	0	0	0	0
		--General Government	98,713	149,941	198,555	198,555	198,555	198,555
		Total*	$98,713	149,941	198,555	198,555	198,555	198,555
		* The total only includes the contracts that require Local Government Commission approval.
		Revenue Bond Debt	$1,242,603	1,315,697	1,388,792	1,461,886	0	0


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		1,466	1,417	1,386	1,356	1,329	1,298

1A	Non GASB34	General Fund Assets					643,797	519,720
1B	FISCAL	General Fund Liabilities					86,747	77,299
2A	SUMMARY	Debt-service Assets
2B		Debt service Liabilities
3A		Enterprise Assets					1,523,596	1,206,327
3B		Enterprise Liabilities					377,761	299,171
4A		Internal Service Assets
4B		Internal service Liabilities
5A		Special Revenue Assets
1.5A	GASB34	Governmental Activities Assets	3,181,711	2,635,056	2,554,546	2,491,185
1.5B	FISCAL	Governmental Activities Liabilities	742,683	324,575	524,980	569,090
3.5A	SUMMARY	Business Type Activities Assets	4,520,984	4,464,991	4,391,134	3,178,221
3.5B		Business Type Activities Liabilties	2,377,979	2,558,291	2,724,182	1,713,350
6.5A		Fiduciary Funds Assets
6.5B		Fiduciary Funds Liabilties
5B		Special Revenue Liabilities
6A		Trust & Agency Assets
6B		Trust & Agency Liabilities
7A		Capital Project Assets
7B		Capital Project Liabilities
8A		General Fixed Assets					2,642,985	2,635,534
9B		General Long term debt - Liabilities					437,783	548,225
10	PART 2	Current collections of unit-wide levy	521,460	517,799	473,476	404,080	396,488	385,043
11	TAX	Current collection of special tax districts
12	REVENUES	Prior years' levy collections	9,034	9,667	11,328	16,152	10,154	17,537
13		Penalties and interest	2,489	2,719	2,789	4,682	2,607	4,753
14		Collection of taxes previously written off
15		Animal tax
16		1% Local government sales and use tax	88,435	83,941	80,997	75,513	63,762	63,693
17		1/2% Local government sales and use taxes (Article 40)	37,233	34,927	29,421	29,803	27,497	28,842
18		1/2% Local government sales and use taxes (Article 42)	36,789	34,563	29,098	29,408	27,180	27,640
18.5		1/2% Local government sales and use taxes (Article 44)	36,978	35,161	31,671	29,034
19		Licenses Privilege				2,008	1,408	1,208
19.1		Privilege - Occupational & business licensing & permit taxes	975	1,333	5,556
19.2		Privilege -- All other privileges and pemits
20		General Municipal Vehicle Tax
21		Vehicle Tax for Public Transportation
22		Other licenses - Include CATV	14,176	17,378	22,030	16,439	14,449	8,979
23		Local occupancy tax
24		Prepared food tax
25		911 charges
26		Gross Receipts Tax on Short Term Vehicles Leases
27	FEDERAL	FEDERAL Payment in lieu of taxes
28	INTERGOV	Equitable sharing of Federally forfeited property
29	REVENUES	General government
30		Public safety		366,799
31		Transportation - Streets
32		Transportation - All other
33		Utility franchise tax
34		Housing/community development
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
41	REVENUES	Intangibles tax reimbursement + Transistional Hold Harmless Revenues						6,992
42		Wireless Enhanced 911 Service Charges
43		Piped Natural Gas Charge Distribution
44		Utility franchise tax	79,208	75,425	71,440	69,763	67,919	38,935
45		Beer and Wine tax	6,403	6,122	6,002	5,708	5,495
46		Powell Bill	47,273	47,227	46,928	42,015	45,549	47,459
47		Food stamp purchases tax reimbursement						196
48		Inventories tax reimbursements						6,940
49		Senior Citizens Exemption - 50%
50		Court fees - Facilities and arrest fees
51		General Government
52		Public safety	3,040	2,612	2,679	2,895	6,230	9,570
53		Transportation - Streets
54		Transportation - All other			40,000
55		Environmental protection
56		Econ. & Phys. Dev. - Housing/Comm. Dev.
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
62	INTERGOV	General government
63	REVENUES	Public safety	15,000
64		Transportatin - Streets
65		Transportation - All other
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
72	& FEES	Inspection fees
72.1		Amusements licensing and permit taxes
73		Other permits
74	SALES &	Parking revenues
75	SERVICES	Rents and royalties	15,050	14,700	13,700	5,800	10,532	5,600
76		Airport
77		Fire protection charges	234,483	200,536	187,322	152,874	144,145	137,820
78		Solid waste	14,541	14,802	16,362	16,336	14,941	14,015
79		Ambulance and rescue squad charges
80		Cemeteries
81		Recreation service revenues
82		Library service revenues
83		Other cultural and recreational service revenues
84		Mass transit - city operated
85		Other sales and services
86	UTILITY	Water and sewer charges	999,205	1,017,791	923,518	866,671	789,245	758,896
87	REVENUES	Electric charges
88		Gas charges
88.1		Storm Water Fees
89	MISC.	On bond proceeds
90	REVENUES	On general and all other funds	24,017	11,380	11,581	7,434	8,087	6,735
91		Special assessments
92		Private contribution and donations
93		Sales of materials and fixed assets				116,000		8,000
94		Sales of real property
95		Nongovernment contributions for streets and traffic signals
96		Mixed drink surcharge
97		ABC profit distribution						1,500
98		Other miscellaneous revenues	9,630	19,373	10,340	5,134	28,081	17,486
99		Proceeds of the sale of bonds and notes
100		Proceeds of capital leases and installment purchases
101		Other	514,104			1,637,267	92,808
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
106		Deposits other than utility
107		Prepaid taxes
108		Prepaid privilege licenses
109A	PART 4	Governing body - Salaries	13,200	13,400	13,100	13,200	13,200	13,700
109B	GENERAL	Governing body - All other Direct	3,192	5,867	3,134	1,647	4,076	1,970
109C	GOVT	Governing body - Construction
109D		Governing body - Land, Equipment and Existing Structures
110A		Administration - Salaries	35,383	56,528	56,178	49,554	53,481	49,252
110B		Administration - All other Direct	207,053	206,595	165,214	152,110	127,438	116,480
110C		Administration - Construction
110D		Administration - Land, Equipment and Existing Structures	13,881	6,000			6,820	3,939
111A		Elections (cost of) - Salaries
111B		Elections (cost of) - All other Direct
111C		Elections (cost of) - Construction
111D		Elections (cost of) - Land, Equipment and Existing Structures
112A		Finance - Salaries
112B		Finance - All other Direct	9,500	7,400	7,400	7,400	8,700	8,400
112C		Finance - Construction
112D		Finance - Land, Equipment. and Existing Structures
113A		Taxes - Salaries
113B		Taxes - All other Direct	7,923	7,942
113C		Taxes - Construction
113D		Taxes - Land, Equipment, and Existing Structures
114A		Legal - Salaries
114B		Legal - All other Direct	7,750	13,941	11,905	6,575	4,401	2,706
114C		Legal - Construction
114D		Legal - Land, Equipment, and Existing Structures
115A		Public Buildings - Salaries	33,038
115B		Public Buildings - All other Direct	15,251
115C		Public Buildings - Construction
115D		Public Buildings - Land, Equipment, and Existing Structures	342
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
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
118C		General Government All Other - Construction
118D		General Government All Other - Land, Equipment, and Existing Structures
119A	PUBLIC	Police and Communications - Salaries					100,398	97,206
119B	SAFETY	Police and Communications - All other Direct	122,477	121,371	128,693	114,857	10,439	8,319
119C		Police and Communications - Construction
119D		Police and Communications - Land, Equipment and Existing Structures	8,930	24,123	24,226			2,288
120A		Emergency Communications - Salaries
120B		Emergency Communications - All other Direct
120C		Emergency Communications - Construction
120D		Emergency Communications - Land, Equipment and Existing Structures
121A		Emergency Management - Salaries
121B		Emergency Management - All other Direct
121C		Emergency Managment - Construction
121D		Emergency Management - Land, Equipment, and Existing Structures
122A		Fire - Salaries	56,603
122B		Fire - All other Direct	130,288	116,941	94,031	146,701	100,662	74,918
122C		Fire - Construction
122D		Fire - Land, Equipment, and Existing Structures	515,375	427,778	30,402	245,779		22,471
123A		Inspectors - Salaries
123B		Inspectors - All other Direct
123C		Inspectors - Construction
123D		Inspectors - Land, Equipment, and Existing Structures
124A		Rescue Units - Salaries
124B		Rescue Units - All other Direct
124C		Rescue Units - Construction
124D		Rescue Units - Land, Equipment, and Existing Structures
125A		Animal Control - Salaries
125B		Animal Control - All other Direct
125C		Animal Control - Construction
125D		Animal Control - Land, Equipment, and Existing Structures
126A		Public Safety All Other - Salaries
126B		Public Safety All Other - All other Direct
126C		Public Safety All Other - Construction
126D		Public Safety All Other - Land, Equipment, and Existing Structures
127A	TRANSPOR	Traffic Engineering - Salaries
127B	TATION	Traffic Engineering - All other Direct
127C		Traffic Engineering - Construction
127D		Traffic Engineering - Land, Equipment, and Existing Structures
128A		Streets and Highways - Salaries	29,890	24,242	49,285	26,159	31,707	34,300
128B		Streets and Highways - All other Direct	29,500	26,624	102,370	38,634	32,967	34,582
128C		Streets and Highways - Construction
128D		Streets and Highways - Land, Equipment and Existing Structures	4,500	23,819	108,523	77,045	7,687	960
129A		Street Cleaning - Salaries
129B		Street Cleaning - All other Direct
129C		Street Cleaning - Construction

North CarolinaDepartment of State TreasurerFinancial InformationTown of Mount Pleasant

North Carolina
Department of State Treasurer
Financial Information
Town of Mount Pleasant