North Carolina
Department of State Treasurer
Financial Information
Town of Midland

Financial Profile | General Fund | Enterprise Funds | Cash, Investments and Financing
Annual Financial Information Report Detail
Financial Graphs and Comparisons
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Incorporated 11/12/2000.

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	$388,667	373,072	341,737	246,719	231,341	205,359
		Utility	-	-	-	-	-	-
		Sales Tax	141,589	136,172	103,485	83,779	61,480	36,635
		Sales & Services	-	-	-	-	-	-
		Intergovernmental	191,790	164,747	153,304	131,860	134,545	88,123
		Debt Proceeds	-	-	-	-	-	-
		Other Miscellaneous	207,351	156,123	26,628	16,493	21,540	3,973
		Total	$929,397	830,114	625,154	478,851	448,906	334,090

	Expenditures by Function
		Utility	$0	-	-	-	-	-
		Debt Service	-	-	-	-	-	-
		Transportation	1,710	228,407	1,200	1,111	1,135	2,371
		General Government	229,290	158,672	126,469	92,306	85,958	52,775
		Public Safety	139,250	118,917	111,122	90,000	75,000	68,750
		Other	140,077	112,688	97,316	90,749	83,937	39,060
		Total	$510,327	618,684	336,107	274,166	246,030	162,956

	Expenditures by Object
		Salaries & Wages	$53,654	48,708	42,046	31,068	27,448	5,490
		Capital Outlay	2,485	228,639	3,047	2,707	828	4,844
		Other Operating + Debt Service	454,188	341,337	291,014	240,391	217,754	152,622
		Total	$510,327	618,684	336,107	274,166	246,030	162,956


	Per Capita Revenues by Source
		Property Tax	$131	132	126	93	83	78
		Utility	-	-	-	-	-	-
		Sales Tax	47	49	37	31	23	13
		Sales & Services	-	-	-	-	-	-
		Intergovernmental	65	58	57	50	48	34
		Debt Proceeds	-	-	-	-	-	-
		Other Miscellaneous	70	55	10	6	8	2
		Total	$313	294	230	180	162	127

	Per Capita Expenditures by Function
		Utility	$0	-	-	-	-	-
		Debt Service	-	-	-	-	-	-
		Transportation	1	81	-	-	-	1
		General Government	77	56	47	35	32	20
		Public Safety	47	42	41	34	27	26
		Other	47	40	36	34	30	15
		Total	$172	219	124	103	89	62

	Per Capita Expenditures by Object
		Salaries & Wages	$18	17	15	12	10	2
		Capital Outlay	1	81	1	1	-	2
		Other Operating	153	121	108	90	79	58
		Total	$172	219	124	103	89	62

	Population Group		No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999
		Number of Municipalites in Group	120	119	116	114	111	110
		Average Population In Group	4,848	4,820	4,759	4,871	4,838	4,822
		Town of Midland Population	2,969	2,826	2,713	2,656	2,776	2,627
	Group Average Per Capita Revenues by Source
		Property Tax	309	306	296	284	282	267
		Utility	312	326	307	292	279	269
		Sales Tax	160	154	146	140	120	114
		Sales & Services	78	74	70	68	67	61
		Intergovernmental	175	160	165	184	179	170
		Debt Proceeds	108	95	65	77	69	50
		Other Miscellaneous	161	126	110	97	132	96
		Total	1,303	1,241	1,159	1,142	1,128	1,027

	Group Average Per Capita Expenditures by Function
		Utility	331	305	290	305	298	286
		Debt Service	96	98	101	104	97	93
		Transportation	111	112	105	100	90	93
		General Government	160	156	154	159	136	123
		Public Safety	310	280	268	261	249	259
		Other	236	209	218	199	214	190
		Total	1,244	1,160	1,136	1,128	1,084	1,044

	Group Average Per Capita Expenditures by Object
		Salaries & Wages	406	390	385	359	354	350
		Capital Outlay	253	205	179	208	172	196
		Other Operating	585	565	572	561	558	498
		Total	1,244	1,160	1,136	1,128	1,084	1,044


General Fund Go to top of page			2007	2006	2005	2004	2003	2002
	General Fund revenues		$929,397	830,114	625,154	478,851	448,906	334,090
	General Fund expenditures		510,327	618,684	336,107	274,166	246,030	162,956
	Operating transfers in		-	-	-	-	-	-
	Operating transfers out		-	-	-	-	-	-
	Capital leases and installment purchase proceeds		-	-	-	-	-	-
	Other items		-	-	-	-	-	-
	Excess of revenues and other sources over (under) expenditures and other uses		419,070	211,430	289,047	204,685	202,876	171,134

	Fund balance available (FBA):
		In dollars	$1,350,772	990,991	871,735	590,682	381,713	177,267
		FBA as a % of GF Net Expenditures:
		Unit's FBA %	264.69	160.18	259.36	215.45	155.15	108.78
		Group weighted average FBA %	64.58	62.33	62.22	61.38	60.00	58.58
		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
	None

	Combined financial results:
		Working capital
		Quick ratio
		Net income
		Cashflow from operations
		Depreciation & Amortization Expense



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

		Population at July 1st of the Previous Year	2,969	2,826	2,713	2,656	2,776	2,627
		Population Group	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999	No Electric 2,500 to 9,999
		Cash &Investments	$1,374,086	1,064,197	901,734	605,527	398,956	190,847
		Investment Earnings	51,605	33,982	23,565	3,296	3,436	1,813
		Tax Rate Equivalent	0.0199	0.0140	0.0103	0.0020	0.0023	0.0013
		Tax Rate Equivalent Group weighted average	0.0438	0.0322	0.0212	0.0115	0.0166	0.0278
		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	$259,750,712	243,484,230	229,594,794	162,672,429	152,339,083	141,834,315
		Tax Rate	0.1500	0.1500	0.1500	0.1500	0.1500	0.1500
		Tax Rate Group weighted average	0.3126	0.3191	0.3626	0.3759	0.3833	0.3716
		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	83.47	91.52	85.31	89.22	88.07	88.99
		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	$270,489,130	247,619,475	229,594,794	181,858,501	162,028,380	146,477,657
		EffectiveTax Rate	0.1440	0.1475	0.1500	0.1342	0.1410	0.1452
		Group weighted average Effective Tax Rate	0.2610	0.2921	0.3093	0.3354	0.3376	0.3307
		Statewide weighted average Effective Tax Rate	0.3939	0.3987	0.4108	0.4209	0.4113	0.4087
		Percent Collected	96.31	96.14	95.91	96.22	96.08	95.19
		Percent Collected Group weighted average	97.49	96.72	96.85	96.72	96.35	96.46
		Percent Collected Statewide	97.84	97.55	97.42	97.31	96.96	97.05
		Percent Collected Excluding Motor Vehicles	97.27	96.83	96.42	97.23	96.76	96.03
		Percent Collected Excluding Motor Vehicles Group weighted average	98.01	98.08	97.96	97.91	97.52	97.85
		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	88.93	91.72	91.81	89.94	91.85	85.07
		Percent Collected Motor Vehicles Only Group weighted average	86.13	86.22	85.87	85.76	84.76	85.83
		Percent Collected Motor Vehicles Only Statewide weighted average	86.72	86.80	87.31	87.62	86.77	87.42
		Tax Uncollected	5,100	14,433	14,159	9,288	9,014	9,798
		Tax Rate Equivalent	0.0020	0.0059	0.0062	0.0057	0.0059	0.0069
		Dominant County: Cabarrus
	Debt Information
		Population Group	2,500 to 4,999	2,500 to 4,999	2,500 to 4,999	2,500 to 4,999	2,500 to 4,999	2,500 to 4,999
		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	$0	0	0	0	0	0
		General Government GO Debt	0	0	0	0	0	0
		Total General Obligation Debt	0	0	0	0	0	0
		Per Capita	$0	0	0	0	0	0
		Total Per Capita for the Population Group	149	162	162	159	155	131
		Total Per Capita Statewide	474	495	505	548	590	585
		Total per Assessed Valuation Adjusted for Current Year Sales	0.0000%	0.0000%	0.0000%	0.0000%	0.0000%	0.0000%
		Total per Assessed Valuation Adjusted for Current Year Sales- Group Average	0.1223%	0.1565%	0.1724%	0.1878%	0.1874%	0.1653%
		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	0	0	0	0	0	0
		Total*	$0	0	0	0	0	0
		* 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	2007	2006	2005	2004	2003	2002
	Population at July 1st of the Previous Year Adjusted for Boundry Changes		2,969	2,826	2,713	2,656	2,776	2,627

1A	Non GASB34	General Fund Assets					453,762	238,547
1B	FISCAL	General Fund Liabilities					52,214	39,875
2A	SUMMARY	Debt-service Assets
2B		Debt service Liabilities
3A		Enterprise Assets
3B		Enterprise Liabilities
4A		Internal Service Assets
4B		Internal service Liabilities
5A		Special Revenue Assets
1.5A	GASB34	Governmental Activities Assets	1,813,423	1,454,177	974,335	665,015
1.5B	FISCAL	Governmental Activities Liabilities	24,124	74,161	33,535	14,845
3.5A	SUMMARY	Business Type Activities Assets
3.5B		Business Type Activities Liabilties
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					3,377	2,549
9B		General Long term debt - Liabilities					500
10	PART 2	Current collections of unit-wide levy	376,714	359,869	331,911	236,571	221,054	193,906
11	TAX	Current collection of special tax districts
12	REVENUES	Prior years' levy collections	9,351	9,949	8,002	9,248	6,779	11,210
13		Penalties and interest	2,602	3,254	1,824	900	3,508	243
14		Collection of taxes previously written off
15		Animal tax
16		1% Local government sales and use tax	62,658	60,905	49,075	38,638	32,531	36,635
17		1/2% Local government sales and use taxes (Article 40)	26,502	25,078	17,711	15,291	14,552
18		1/2% Local government sales and use taxes (Article 42)	26,188	24,819	17,518	15,086	14,397
18.5		1/2% Local government sales and use taxes (Article 44)	26,241	25,370	19,181	14,764
19		Licenses Privilege
19.1		Privilege - Occupational & business licensing & permit taxes
19.2		Privilege -- All other privileges and pemits
20		General Municipal Vehicle Tax
21		Vehicle Tax for Public Transportation
22		Other licenses - Include CATV
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
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						1,179
42		Wireless Enhanced 911 Service Charges
43		Piped Natural Gas Charge Distribution	931	980	1,130	216	161
44		Utility franchise tax	110,633	89,463	86,593	71,191	71,096	19,129
45		Beer and Wine tax	12,779	9,384
46		Powell Bill	67,447	64,920	63,753	60,453	63,288	65,864
47		Food stamp purchases tax reimbursement						33
48		Inventories tax reimbursements						1,918
49		Senior Citizens Exemption - 50%
50		Court fees - Facilities and arrest fees
51		General Government			1,828
52		Public safety
53		Transportation - Streets
54		Transportation - All other
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
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	7,717	3,683	3,063	5,626	2,797	1,160
74	SALES &	Parking revenues
75	SERVICES	Rents and royalties
76		Airport
77		Fire protection charges
78		Solid waste
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
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	51,605	33,982	23,565	3,296	3,436	1,813
91		Special assessments
92		Private contribution and donations				6,997	15,307	1,000
93		Sales of materials and fixed assets
94		Sales of real property
95		Nongovernment contributions for streets and traffic signals
96		Mixed drink surcharge
97		ABC profit distribution
98		Other miscellaneous revenues	148,029	118,458		574
99		Proceeds of the sale of bonds and notes
100		Proceeds of capital leases and installment purchases
101		Other
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
109B	GENERAL	Governing body - All other Direct						1,088
109C	GOVT	Governing body - Construction
109D		Governing body - Land, Equipment and Existing Structures
110A		Administration - Salaries	53,654	48,708	42,046	31,068	27,448	5,490
110B		Administration - All other Direct	167,338	102,895	76,326	54,855	24,849	2,282
110C		Administration - Construction
110D		Administration - Land, Equipment and Existing Structures	2,485	1,764	3,047	2,707	828	2,549
111A		Elections (cost of) - Salaries
111B		Elections (cost of) - All other Direct						1,547
111C		Elections (cost of) - Construction
111D		Elections (cost of) - Land, Equipment and Existing Structures
112A		Finance - Salaries
112B		Finance - All other Direct						4,145
112C		Finance - Construction
112D		Finance - Land, Equipment. and Existing Structures
113A		Taxes - Salaries
113B		Taxes - All other Direct	5,813	5,305	5,050	3,676	3,538	3,080
113C		Taxes - Construction
113D		Taxes - Land, Equipment, and Existing Structures
114A		Legal - Salaries
114B		Legal - All other Direct					27,352	25,000
114C		Legal - Construction
114D		Legal - Land, Equipment, and Existing Structures
115A		Public Buildings - Salaries
115B		Public Buildings - All other Direct					1,943	2,270
115C		Public Buildings - Construction
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
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						5,324
118C		General Government All Other - Construction
118D		General Government All Other - Land, Equipment, and Existing Structures
119A	PUBLIC	Police and Communications - Salaries
119B	SAFETY	Police and Communications - All other Direct
119C		Police and Communications - Construction
119D		Police and Communications - Land, Equipment and Existing Structures
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
122B		Fire - All other Direct	139,250	118,917	111,122	90,000	75,000	68,750
122C		Fire - Construction
122D		Fire - Land, Equipment, and Existing Structures
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
128B		Streets and Highways - All other Direct	1,710	1,532	1,200	1,111
128C		Streets and Highways - Construction		226,875
128D		Streets and Highways - Land, Equipment and Existing Structures
129A		Street Cleaning - Salaries
129B		Street Cleaning - All other Direct
129C		Street Cleaning - Construction
129D		Street Cleaning - Land, Equipment, and Existing Structures
130A		State Street Aid Allocation - Powell Bill - Salries
130B		State Street Aid Allocation - Powell Bill - All other Direct					1,135	76
130C		State Street Aid Allocation - Powell Bill - Construction
130D		State Street Aid Allocation - Powell Bill - Land, Equipment, and Existing Structures						2,295
131A		Parking Facilities - Salaries
131B		Parking Facilities - All other Direct
131C		Parking Facilities - Construction
131D		Parking Facilites - Land, Equipment, and Existing Structures
132A		Mass Transit - City - Salaries
132B		Mass Transit - City - All other Direct
132C		Mass Transit - City - Construction
132D		Mass Transit - City - Land, Equipment, and Existing Structures
133B		Mass Transit - Private - All other Direct only
134A		Airport - Salaries
134B		Airport - All other Direct
134C		Airport - Construction
134D		Airport - Land, Equipment, and Existing Structures
135A		Transportation - All Other - Salaries
135B		Transportation - All Other - All other Direct
135C		Transportation - All Other - Construction
135D

North CarolinaDepartment of State TreasurerFinancial InformationTown of Midland

North Carolina
Department of State Treasurer
Financial Information
Town of Midland