HomeMy WebLinkAboutAgenda - 05-08-2014-13 (5)INFORMATION ITEM
ORANGE,, OUNTY
RNANCEAND ADMINISTRATIVE SERVICES
200 South Cameron Street Clarence G. Grier, CPA, CITP, CGMA Phone (919) 245 -2553
Post Office Box 8181 Assistant Count} Manager — CFO Fax (919) 644 -3324
Hillsborough, North Carolina 27278
MEMORANDUM
To: Board of County Commissioners
From: Clarence Grier, Assistant County Manager — Chief Finance Officer
Date: May 8, 2014
Re: Major Fund Financial Statement for the Nine Months Ended March 31, 2014
As part of meeting the periodic financial
information in regards to the financial status
statement that will provide information on the
March 31, 2014. The following County fund s
Accounting Standards Board:
The Major funds of the County are as follows:
reporting requirements and providing timelier source
of the County, we have developed an interim financial
major fund financial status for the nine months ended
are considered major funds under the Governmental
• General Fund
• Capital Funds — County Capital and School Capital Funds
• Solid Waste Fund
• Sportsplex Fund
The Major Fund of the County accounted for approximately 86 percent of the total annual revenues of
the County. An overview of financial status for each of the major funds is included in the financial
statement and as follows:
General Fund
• Total revenues for the General Fund are $169 million for an increase of $6.0 million or 4% over
the same period in fiscal year 2012 -13. This revenue increase is mainly due to the timing of
billing Ad Valorem Taxes. Total revenues collected are 86% of the amended budget for the
current fiscal year.
• Total expenditures for the General Fund are $141.9 million for an increase of $4.0 million or
3% over the same period in the previous year. Total expenditures are 72% of the budget for
the fiscal year.
• Revenues and net transfers are more than expenditures by $27.4 million representing a net
decrease of $1.9 million or 8% over the same period in the previous fiscal year.
Capital Funds
• The County Capital Funds revenues and other financing sources total $14.4 million
compared to expenditures of approximately $6.6 million. The main revenue and financing
source are the funds received for the installment financing proceeds received in July 2013 and
January 2014 of this fiscal year. The majority of the current fiscal year expenditures related to
construction cost incurred for the Buckhorn Mebane Economic Development District and
communication system improvements for Emergency Services as part of the strategic plan.
• The School Capital Funds revenues and other financing sources total $9.4 million compared
to expenditures total $6.3 million. The majority of the current fiscal year expenditures related to
construction cost incurred for Northside Elementary (CHCCS) and technology for both school
districts.
Solid Waste Fund
Total revenues and transfers for the Solid Waste Fund decreased 2.3 million over the same
period in the previous fiscal year to $7.0 million. Revenues and other financing sources and
uses lower due to the closure of the landfill as of June 30, 2013. Total revenues collected are
48% of the amended budget for the fiscal year.
• Total expenses for the Solid Waste Fund decreased 12% over the same period in the previous
fiscal year to $6.1 million. Total expenditures are 42% of the budget for the fiscal year.
Revenues and transfers are greater than expenses by $851,528 compared to greater than
expenses by $1.5 million over the same period in the previous fiscal year due to the closure of
the Landfill.
Sportsplex Fund
• Total revenues for the Sportsplex Fund are approximately the same for the period in the
previous year. Total revenues are 64% of the amended budget for the fiscal year.
• Total expenditures for the Sportsplex Fund increased 7% over the same period in the previous
fiscal year to $1.4 million. Total expenses are 32% of the budget for the fiscal year.
Revenues and net transfers are less than expenses by $156,253, which is nominally the same
as the previous fiscal year.
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ORANGE COUNTY, NORTH CAROLINA
MAJOR FUND FINANCIAL STATEMENT
FOR THE NINE MONTHS ENDED MARCH 31, 2014
TABLE OF CONTENTS
Balance Sheet - Major Governmental Funds
Statement of Revenues, Expenditures, and Changes
in Fund Balances - Major Governmental Funds
Statement of Revenues, Expenditures, and Changes
in Fund Balances - Budget and Actual- General Fund
Statement of Net Position - Proprietary Funds
Statement of Revenues, Expenses, and Changes in
Fund Net Position - Proprietary Funds
County Capital Improvements Fund -
Schedule of Revenues, Expenditures, and Changes
in Fund Balance - Budget and Actual
School Capital Improvements Fund -
Schedule of Revenues, Expenditures, and Changes
in Fund Balance - Budget and Actual
Exhibit
2
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ORAN
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� � 1111 "]RA 11II "Y III SERVICES
200 SDuth Cameron Street Clarence G. Grier, CPA, CITP, OGMA Phone (919) 245 -2553
Post Office Box 8181 Assistant County Manager - CFO Fax (919) 644 -3324
Hillsborough, North Carolina
27278
Summary Information for M aior Funds as of March 31.2014
The Major Fund of the County accounted for approximately 86 percent of the total annual revenues of the County. An
overview of financial statusfor each of the major fundsisincluded in the financial statement and asfollows:
General Fund
• Total revenues for the General Fund are $169 million for an increase of $6.0 million or 4 %over the same period in
fiscal year 2012 -13. This revenue increase is mainly due to the timing of billing Ad Valorem Taxes. Total revenues
collected are 86 %of the amended budget for the current fiscal year.
• Total expenditures for the General Fund are $141.9 million for an increase of $4.0 million or 3% over the same
period in the previousyear. Total expenditures are 72 %of the budget for the fiscal year.
• Pevenuesand net transfersare more than expenditures by $27.4 million representing a net decrease of $1.9 million
or 8 %over the same period in the previousfiscal year.
Capital Funds
• The County Capital Funds revenues and other financing sources total $14.4 million compared to expenditures of
approximately $6.6 million. The main revenue and financing source are the funds received for the installment
financing proceeds received in July 2013 and January 2014 of this fiscal year. The majority of the current fiscal year
expenditures related to construction cost incurred for the Buckhorn Mebane Economic Development District and
communication system improvements for Emergency Services as part of the strategic plan.
• The School Capital Funds revenues and other financing sourcestotal $9.4 million compared to expenditures total
$6.3 million. The majority of the current fiscal year expenditures related to construction cost incurred for
Northside Elementary (CHCCS) and technology for both school districts.
Solid Waste Fund
• Total revenues and transfers for the Solid Waste Fund decreased $2.3 million over the same period in the previous
fiscal year to $7.0 million. Pevenues and other financing sources and uses lower due to the closure of the landfill
asof June 30, 2013. Total revenues collected are 48 %of the amended budget for the fiscal year.
• Total expenses for the Solid Waste Fund decreased 12% over the same period in the previous fiscal year to
$6.1 million. Total expenditures are 42 %of the budget for the fiscal year.
• Pevenues and transfers are greater than expenses by $851,528 compared to greater than expenses by $1.5 million
over the same period in the previousfiscal year due to the closure of the Landfill.
Sportsplex Fund
Total revenues for the S'portsplex Fund are approximately the same for the period in the previous year. Total
revenues are 64 %of the amended budget for the fiscal year.
Total expenditures for the S'portsplex Fund increased 7 %over the same period in the previousfiscal year to $1.4
million. Total expenses are 32 %of the budget for the fiscal year.
Pevenues and net transfers are lessthan expenses by $156,253, which is nominally the same asthe previousfiscal
year.
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ORANGE COUNTY, NORTH CAROLINA
BALANCE SHEET - MAJOR GOVERNMENTAL FUNDS (UNAUDITED)
March 31, 2014
2
Major Funds
Total
County
School
Major
Capital
Capital
Governmental
General
Improvements
Improvements
Funds
Assets:
Cash and investments
$
83,919,060
$ 229,490
$
$ 84,148,550
Accounts receivable,
-
property taxes, net
4,533,379
4,533,379
Inventories
23,008
-
23,008
Due from other funds
557,991
66,983
624,974
Prepaids
16,946
-
16,946
Restricted cash and investments
-
14,564,167
10,413,689
24,977,856
Total assets
$
89,050,384
$ 14,860,640
$ 10,413,689
$ 114,324,713
Liabilities, Deferred Inflows of
Resources, and Fund Balance:
Liabilities:
Accounts payable
$
1,224,127
$ 3,860
$
$ 1,227,987
Accrued payroll and withholdings
417,955
-
417,955
Accrued liabilities
51,761
51,761
Due to other funds
594,095
-
594,095
Arbitrage payable
-
14,637
24,739
39,376
Total liabilities
2,287,938
18,497
24,739
2,331,174
Deferred Inflows of Resources:
Unavailable grant revenue
-
-
-
-
Property taxes receivable
4,619,072
4,619,072
Prepaid taxes
186,428
186,428
Total Deferred inflows of resources
4,805,500
4,805,500
Fund Balances:
Non - spendable:
Prepaid items
23,008
23,008
Inventories
16,946
-
16,946
Restricted for:
-
Stabilization for State statute
9,815,264
6,815,605
-
16,630,869
Restricted, all other
-
-
10,388,950
10,388,950
Committed
-
-
-
-
Assigned
5,190,118
7,797,048
12,987,166
Unassigned
66,911,610
229,490
67,141,100
Total fund balances
81,956,946
14,842,143
10,388,950
107,188,039
Total liabilities, deferred inflows of
resources, and fund balances
$
89,050,384
$ 14,860,640
$ 10,413,689
$ 114,324,713
2
ORANGE COUNTY, NORTH CAROLINA
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - MAJOR GOVERNMENTAL FUNDS (UNAUDITED)
FOR THE NINE MONTHS ENDED MARCH 31, 2014
Expenditures:
Current:
Governing and management
10,028,078
Major Funds
General services
Total
5,937,458
Community and environment
County
School
Major
24,758,043
24,758,043
Capital
Capital
Governmental
Public safety
General
Improvements
Improvements
Funds
Revenues:
Capital outlay
-
6,639,003 6,317,396 12,956,399
Debt service:
Property taxes
$ 139,659,754
$
$
$ 139,659,754
Sales tax
9,782,773
- 7,166,654
Total expenditures
9,782,773
Intergovernmental revenues
11,475,777
15,000
35,502,637
11,490,777
Charges for services
6,732,600
37,954
-
6,770,554
Investment earnings
21,758
5,197
2,360
29,315
Licenses and permits
-
-
-
-
Miscellaneous
553,931
244
554,175
Total revenues
168,226,593
58,151
2,604
168,287,348
Expenditures:
Current:
Governing and management
10,028,078
10,028,078
General services
5,937,458
5,937,458
Community and environment
4,788,066
4,788,066
Human services
24,758,043
24,758,043
Education
51,782,377
51,782,377
Public safety
14,390,878
14,390,878
Culture and recreation
1,783,674
- - 1,783,674
Capital outlay
-
6,639,003 6,317,396 12,956,399
Debt service:
-
Principal
12,088,728
- - 12,088,728
Interest and fees
7,166,654
- 7,166,654
Total expenditures
132,723,956
6,639,003 6,317,396 145,680,355
Revenues over (under) expenditures
35,502,637
(6,580,852) (6,314,792) 22,606,993
Other Financing Sources (Uses):
Bond premium
Refunding bonds - - -
Installment loan issuances 13,692,453 4,971,676 18,664,129
Capital lease issuances - - -
Payment to escrow agent - - - -
Transfers in 1,058,800 697,400 4,391,465 6,147,665
Transfers out (9,179,781) - - -
Total other financing sources (uses) (8,120,981) 14,389,853 9,363,141 24,811,794
Net change in fund balances 27,381,656 7,809,001 3,048,349 47,418,787
Fund Balances:
Beginning of year - July 1 54,575,290 7,045,097 7,365,340 78,792,212
Nine Months Ended - March 31 $ 81,956,946 $ 14,854,098 $ 10,413,689 $ 126,210,999
3
ORANGE COUNTY, NORTH CAROLINA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (UNAUDITED)
FOR THE NINE MONTHS ENDED MARCH 31, 2014
Revenues:
Property taxes
Sales tax
Intergovernmental revenues
Charges for services
Investment earnings
Licenses and permits
Miscellaneous
Total revenues
Expenditures:
Governing and management
General services
Community and environment
Human services
Education
Public safety
Cultural and recreational
Debt service:
Principal
Interest and fees
Total expenditures
Revenues over (under) expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Appropriated fund balance
Total other financing sources (uses)
Net change in fund balance
Fund Balance:
Beginning of year - July 1
Variance With
Budgeted Amounts Final Budget
Original Amended Actual Encumbrances Over /(Under) FY2012 -13
$ 139,733,522 $ 139,733,522 $ 139,659,754 $
17,190,148
17,190,148
9,782,773
13,703,850
18,668,644
11,475 ,777
9,654,843
9,715,484
6,732,600
105,000
105,000
21,758
313,000
313,000
-
796,718
841,601
553,931
181,497,081
186,567, 399
168,226,593
$ (73,768) $ 134,698,077
(7,407,375) 10,186,801
(7,192,867) 10,914,405
(2,982,884) 5,863,806
(83,242) 24,861
(313,000) -
(287,670) 610,798
(18,340,806) 162,298,748
15,981,211
16,247,627
10,028,078
313,770
(6,219,549)
9,218,056
8,669,540
8,669,540
5,937,458
214,766
(2,732,082)
5,696,273
7,103,245
7,259,661
4,788,066
132,172
(2,471,595)
4,563,598
31,459,113
36,120,405
24,758,043
540,126
(11,362,362)
24,374,210
69,657,252
69,728,723
51,782,377
-
(17,946,346)
50,041,793
21,445,378
21,697,733
14,390,878
230,563
(7,306,855)
13,785,538
2,495,908
2,507,410
1,783,674
65,597
(723,736)
1,630,473
17,579,399
17,579,399
12,088,728
-
(5,490,671)
12,109,643
8,030,387
8,030,387
7,166,654
-
(863,733)
5,578,345
182,421,433
187,840,885
132,723,956
1,496,994
(55,116,929)
126,997,929
(924,352)
(1,273,486)
35,502,637
(1,496,994)
36,776,123
35,300,819
1,046,300
1,05 8,800 1,05 8,800
(5,312,066)
(9,305,694) (9,179,781)
5,190,118
9,520,380
924,352
1,273,486 (8,120,981)
- 1,087,700
125,913 (10,925,419)
(9,520,380)
(9,394,467) (9,837,719)
$ - $ - 27,381,656 $ (1,496,994) $ 27,381,656 $ 25,463,100
54,575,290
Nine Months Ended - March 31 $ 81,956,946
4
ORANGE COUNTY, NORTH CAROLINA
MAJOR PROPRIETARY FUNDS
STATEMENT OF NET POSITION - UNAUDITED
March 31, 2014
Non - current liabilities:
Compensated absences
122,510
-
Total
Post - closing liability
Major
Major
12,959,312
Solid Waste
SportsPlex
Proprietary
1,485,201
Fund
Fund
Funds
Assets:
Total non - current liabilities
19,219,639
4,528,499
Current assets:
Total liabilities
20,079,645
5,176,674
Cash and cash equivalents
$ 18,670,412
$ 453,046
$ 19,123,458
Accounts receivable, other
496,516
125,471
621,987
Prepaid expenses
-
5,735
5,735
Total current assets
19,166,928
584,252
19,751,180
10,407,881
Non - current assets:
Non - depreciable assets
3,373,753
1,415,306
4,789,059
Capital assets, net of depreciation
5,006,720
6,117,241
11,123,961
Total non - current assets
8,380,473
7,532,547
15,913,020
Total assets
27,547,401
8,116,799
35,664,200
Liabilities and Net Position:
Liabilities:
Current liabilities:
Accounts payable
12,749
56,549
69,298
Payroll withholdings
53,130
20,599
73,729
Accrued interest
51,968
34,455
86,423
Prepaid fees
-
163,891
163,891
Current portion of long -term debt
558,395
372,682
931,077
Compensated absences, current portion
183,764
-
183,764
Total current liabilities
860,006
648,175
1,508,181
Non - current liabilities:
Compensated absences
122,510
-
122,510
Post - closing liability
12,959,312
-
12,959,312
OPEB liability
1,485,201
-
1,485,201
Long -term debt
4,652,616
4,528,499
9,181,115
Total non - current liabilities
19,219,639
4,528,499
23,748,138
Total liabilities
20,079,645
5,176,674
25,256,319
Net Position:
Net investment in capital assets
3,169,462
2,631,366
5,800,828
Unrestricted
4,298,294
308,759
4,607,053
Total net position
$ 7,467,756 $
2,940,125 $
10,407,881
5
ORANGE COUNTY, NORTH CAROLINA
STATEMENT OF REVENUES, EXPENSES, AND CHANGES
IN FUND NET POSITION - MAJOR PROPRIETARY FUNDS (UNAUDITED)
FOR THE NINE MONTHS ENDED MARCH 31, 2014
Total
Major Major
Solid Waste SportsPlex Proprietary
Fund Fund Funds
Operating Revenues:
Landfill fees S 5,261,470 S - S 5,261,470
Service fees - 21429,913 2,429,913
Other 86,093 - 86,093
Total operating revenues 5,347,563 2,429,913 7,777,476
Operating Expenses:
Landfill
655,093
- 655,093
General and administrative
904,669
- 904,669
Recycling
2,430,159
- 2,430,159
Sanitation
1,327,786
- 1,327,786
Post - closing cost
-
- -
Sportsplex
-
2,076,281 2,076,281
Total operating expenses
5,317,707
2,076,281 7,393,988
Operating income (loss)
29,856
353,632 383,488
Non - Operating Revenues (Expenses):
Investment earnings
6,242
-
6,242
Interest and fees
(216,331)
(250,569)
(466,900)
Contribution to other agency
-
-
-
Grant - State
244,718
-
244,718
Total non - operating revenues (expenses)
34,629
(250,569)
(215,940)
Income (loss) before contributions
and transfers
64,485
103,063
167,548
Transfers in
1,402,122
376,450
1,778,572
Change in net position
1,466,607
479,513
1,946,120
Net Position:
Beginning of year - July 1
6,001,149
2,460,612
8,461,761
Nine Months Ended - March 31
S 7,467,,756 S
vl
2,940,125 S
10,407,881
ORANGE COUNTY, NORTH CAROLINA
COUNTY CAPITAL IMPROVEMENTS FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCE - BUDGET AND ACTUAL (UNAUDITED)
FROM INCEPTION AND FOR THE NINE MONTHS ENDED MARCH 31, 2014
Expenditures:
New Hope Creek Preserve
40,000
18,750
Actual
25,000
Jail
Budget
Reported in
Current
Total
Justice facility and new courthouse
to Date
Prior Years
Year
to Date
Revenues:
-
218,797
-
218,797
Federal grants
$ 5,888,842
$ 4,990,660 $
- $
4,990,660
State grants
6,161,633
5,235,521
26,500
5,262,021
Investment earnings
2,624,400
3,338,388
9,338
3,347,726
Other
1,547,665
3,406,775
10,358
3,417,133
Total revenues
16,222,540
16,971,344
46,196
17,017,540
Expenditures:
New Hope Creek Preserve
40,000
18,750
6,250
25,000
Jail
1,375,000
256,567
-
256,567
Justice facility and new courthouse
12,229,073
12,326,996
12,326,996
New courthouse
-
218,797
-
218,797
Northern Human Services Center
714,545
363,931
29,569
393,500
Senior Center- Central Orange
6,460,533
6,147,769
-
6,147,769
Robert and Pearl Seymour Center
70,000
-
-
Southern Human Services Center
280,000
-
-
-
Whitted Human Services Center
1,792,200
2,800
151,799
154,599
Animal services facility
9,168,864
9,157,734
10,615
9,168,349
EMS relocation and meadowlands annex
3,569,214
3,552,307
14,570
3,566,877
County campus, office building, and library
26,899,000
26,890,736
-
26,890,736
County other
-
1,449,460
1,449,460
Blackwood Farm
2,437,435
2,279,170
2,279,170
Cedar Grove Park
1,848,000
1,847,999
1,847,999
Twin Creeks Park
2,579,457
844,937
844,937
Fairview Park
1,615,023
1,606,218
-
1,606,218
Conservation easement
1,733,208
1,705,824
175,858
1,881,682
Homestead Aquatics
-
83,346
-
83,346
Lands Legacy
1,630,909
111,290
1,495
112,785
Parkland and recreation facilities
103,530
175,011
-
175,011
Seven Mile Creek Preserve
151,000
145,689
145,689
Southern Park
-
38,196
38,196
SportsPlex Maintenance Reserve
100,000
-
-
West Ten soccer complex
4,054,128
4,054,616
-
4,054,616
Central recreation repairs
416,980
412,323
2,118
414,441
Millhouse Road Park
264,802
258,712
-
258,712
Blackwood Farm Park
50,000
-
-
-
Joint Artificial Turf Soccer
623,000
-
623,000
623,000
Roofing projects
1,498,100
1,142,904
115,446
1,258,350
Affordable housing
2,808,804
2,036,344
114,053
2,150,397
Information technology
4,817,757
3,855,925
253,004
4,108,929
Register of Deeds' automation enhancement
500,450
246,701
13,164
259,865
Medicaid maximization
3,899,142
1,908,365
74,229
1,982,594
Loan Pool Reserve
275,000
200,000
-
200,000
Efland Sewer extension
1,798,240
111,251
-
111,251
HVAC projects
2,261,423
774,854
1,032,740
1,807,594
ADA compliance
16,058
16,058
-
16,058
Utilities demand reduction systems
130,000
106,055
-
106,055
Upfit of County Space - Link Center
1,752,662
1,302,023
14,790
1,316,813
Telephone system replacement
575,000
562,748
14,790
577,538
7
ORANGE COUNTY, NORTH CAROLINA
COUNTY CAPITAL IMPROVEMENTS FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCE - BUDGET AND ACTUAL (UNAUDITED)
FROM INCEPTION AND FOR THE NINE MONTHS ENDED MARCH 31, 2014
Other Financing Sources (Uses):
Bond issuance costs
9,015,794
2,502,871
Actual
2,502,871
Refunding bonds
Budget
Reported in
Current
Total
Bond premium
to Date
Prior Years
Year
to Date
Hillsborough Commons
3,790,000
3,780,709
13,692,453
3,780,709
Board of Elections office
97,000
34,750
-
34,750
Piedmont Food and Agriculture Processing
1,494,825
1,425,285
-
1,425,285
Eno EDD
200,000
-
41,737
41,737
800 MHz Radios
700,000
473,436
-
473,436
Dental equipment
100,000
74,190
1,046
75,236
Buckhom EDD Phase 2
4,452,046
619,861
2,676,876
3,296,737
Payroll Software System
329,861
311,100
-
311,100
129 East King Street
145,000
109,991
-
109,991
Central Efland Buckhorn Sewer
4,848,400
3,569,274
5,295
3,574,569
McGowan Creek Outfall
755,450
7,740
49,571
57,311
Energy Bank
50,000
-
41,220
41,220
Viper Radio System
543,750
-
-
-
Communication System Improvements
1,101,978
744,261
593,236
1,337,497
Lake Orange Capital Maintenance
346,300
189,647
-
189,647
Observation Well Network
11,330
11,297
-
11,297
Jail New Campus
-
3,419
140,199
143,618
Historic Rogers Road Community Center
650,000
-
-
-
Future EMS Stations
50,000
-
4,774
4,774
Southern Orange Campus (Future)
300,000
103,009
121,370
224,379
Southwest Branch Library
700,000
56,576
4,965
61,541
Efland Sewer to Mebane
226,800
-
28,500
28,500
Unallocated
200,000
-
143,317
143,317
Issuance costs and fees
1,566,376
948,611
139,407
1,088,018
Total expenditures
123,197,653
98,675,562
6,639,003
105,314,565
Revenues over (under) expenditures
(106,975,113)
(81,704,218)
(6,592,807)
(88,297,025)
Other Financing Sources (Uses):
Bond issuance costs
9,015,794
2,502,871
2,502,871
Refunding bonds
20,000,000
132,448,500
132,448,500
Bond premium
2,000,000
17,638,520
-
17,638,520
Installment loan issuance
75,637,865
59,567,506
13,692,453
73,259,959
Capital lease issuance
-
2,540,999
-
2,540,999
Payment to escrow agent
(20,603,624)
(141,736,447)
-
(141,736,447;
Transfers in
23,308,141
19,211,630
697,400
19,909,030
Transfers out
(3,730,000)
(3,424,264)
-
(3,424,264;
Appropriated fund balance
1,346,937
-
-
-
Total other financing sources (uses)
106,975,113
88,749,315
14,389,853
103,139,168
Net change in fund balance
$ - $
7,045,097
7,797,046 $
14,842,143
Fund Balance:
Beginning of year - July 1 7,045,097
Nine Months Ended - March 31 $ 14,842,143
8
ORANGE COUNTY, NORTH CAROLINA
SCHOOL CAPITAL IMPROVEMENTS FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCE - BUDGET AND ACTUAL (UNAUDITED)
FROM INCEPTION AND FOR THE NINE MONTHS ENDED MARCH 31, 2014
Expenditures:
Orange County Schools:
A.L. Stanback Middle School
12,000
-
Actual
-
Cameron Park Elementary
Budget
Reported in
Current
Total
Efland Cheeks Elementary
to Date
Prior Years
Year
to Date
Revenues:
54,040
54,023
-
54,023
Investment earnings
$ 60,000
$ 628,042
$ 2,360 $
630,402
Sales tax
180,000
87,597
-
87,597
Lottery proceeds
2,892,139
2,959,057
-
2,959,057
Other
-
33,759
244
34,003
Total revenues
3,132,139
3,708,455
2,604
3,711,059
Expenditures:
Orange County Schools:
A.L. Stanback Middle School
12,000
-
-
Cameron Park Elementary
525,634
524,922
-
524,922
Efland Cheeks Elementary
423,449
389,814
6,752
396,566
Grady Brown Elementary
54,040
54,023
-
54,023
Hillsborough Elementary
362,899
241,878
3,890
245,768
New Hope Elementary renovations
325,000
242,740
-
242,740
Stanford Middle School
688,065
424,227
424,227
Orange High School
558,767
554,381
554,381
Orange High Track repairs
495,634
495,634
-
495,634
Alternative School
361,720
302,111
4,932
307,043
Indoor air quality
15,000
-
-
-
Central elementary air
174,900
138,601
-
138,601
Classroom improvements
3,394,886
2,931,227
295,369
3,226,596
Electrical systems
290,000
170,685
-
170,685
Window replacements
573,567
228,131
-
228,131
Athletic Facilities
456,936
-
130,798
130,798
Kitchen renovations project
27,785
-
-
-
Mechanical systems
15,000
14,196
-
14,196
Paving / parking lot improvements
88,281
-
80,000
80,000
Electrical service upgrades
33,000
-
-
Planning for future projects
300,000
-
-
-
Roofing projects
1,725,000
1,600,001
118,100
1,718,101
Technology plan
2,222,668
1,677,721
367,449
2,045,170
HVAC upgrade /improvements
1,493,961
741,652
676,021
1,417,673
District -wide improvements
247,745
231,154
875
232,029
Bathroom renovations
180,532
83,682
4,777
88,459
Fire /safety upgrades
333,569
263,224
263,224
Total Orange County Schools
15,380,038
11,310,004
1,688,963
12,998,967
E
ORANGE COUNTY, NORTH CAROLINA
SCHOOL CAPITAL IMPROVEMENTS FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCE - BUDGET AND ACTUAL (UNAUDITED)
FROM INCEPTION AND FOR THE NINE MONTHS ENDED MARCH 31, 2014
Other Financing Sources (Uses):
Bonds issuance
14,170,874
14,170,873
Actual
14,170,873
Installment loan insurance
Budget
Reported in
Current
Total
Transfers in
to Date
Prior Years
Year
to Date
Chapel Hill Carrboro Schools:
47,745
-
-
Elementary #11
23,137,196
20,359,848
2,318,137
22,677,985
Morris Grove Elementary
40,000
38,911
-
38,911
Transportation Center
309,500
289,540
289,540
Carrboro High School
75,000
75,000
7,365,340
75,000
Carrboro Arts Wing
4,048,028
4,048,027
-
4,048,027
Abatement projects
435,576
292,000
31,194
323,194
ADA requirements
200,505
141,371
13,132
154,503
ATH facilities /playgrounds
590,000
590,000
90,558
680,558
Emergency efficiency renovations
350,000
-
59,715
59,715
Classroom/academicimprovements
785,682
744,553
231,551
976,104
Doors, hardware, canopies
158,000
87,610
7,620
95,230
Electrical systems
489,740
427,192
201,981
629,173
Eire, safety, and security
480,000
396,066
60,936
457,002
Indoor air quality
501,340
454,087
22,395
476,482
Mechanical systems
1,749,570
1,637,451
277,379
1,914,830
Mobile classrooms
497,696
458,702
134,241
592,943
Parking lot improvements
320,000
267,913
14,190
282,103
Planning for future projects
450,000
444,575
5,122
449,697
Roofing projects
5,360,009
5,301,880
18,365
5,320,245
Bathroom renovations
193,406
193,406
-
193,406
Technology
5,586,433
5,586,045
1,010,889
6,596,934
Window replacements
353,658
327,484
-
327,484
Culbreth Science Wing
5,571,676
-
131,028
131,028
Total Chapel Hill Carrboro Schools
51,683,015
42,161,661
4,628,433
46,790,094
Other expenditures
60,000
43,215
-
43,215
Total expenditures
67,123,053
53,514,880
6,317,396
59,832,276
Revenues over (under) expenditures
(63,990,914)
(49,806,425)
6,320,000
63,543,335
Other Financing Sources (Uses):
Bonds issuance
14,170,874
14,170,873
-
14,170,873
Installment loan insurance
38,071,676
32,426,288
4,971,676
37,397,964
Transfers in
11,700,619
10,574,604
4,391,465
14,966,069
Appropriated fund balance
47,745
-
-
Total other financing sources (uses)
63,990,914
57,171,765
9,363,141
66,534,906
Net change in fund balance
$ $
7,365,340
3,048,349 $
10,413,689
Fund Balance:
Beginning of year - July 1
7,365,340
Nine Months Ended - March 31
$
10,413,689
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