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FINANCE AND ADMINISTRA TIVE SERVICES
200 South Cameron Street Clarence G. Grier, CPA, CITP, CGMA Phone (919) 245 -2553
Post Office Box 8181 Assistant County 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: January 22, 2015
Re: Major Fund Financial Statement for the Six Months Ended December 31, 2014
As part of meeting the periodic financial reporting requirements and providing timelier source information in
regards to the financial status of the County, we have developed an interim financial statement that will provide
information on the major fund financial status for the six months ended December 31, 2014. The following
County funds are considered major funds under the Governmental Accounting Standards Board:
The Major funds of the County are as follows:
• General Fund
• Capital Funds — County Capital and School Capital Funds
• Solid Waste Fund
• Sportsplex Fund
The Major Funds 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 (revenues and transfers) for the General Fund are $132.6 million for an increase
of $5.5 million or 4% over the same period in fiscal year 2013 -14. This revenue increase is
mainly due to the timing, billing and collection of Ad Valorem Taxes and Intergovernmental
Revenues. Total revenues collected are 69% of the amended budget for the current fiscal year.
• Total expenditures (expenditures and transfers) for the General Fund are $89.3 million for an
increase of $3.2 million or 3% over the same period in the previous year. General Fund
Expenditures increased due to increased expenditures for Human Services and Education. Total
expenditures are 45% of the budget for the fiscal year.
• Revenues and net transfers are more than expenditures by $43.8 million representing a 7%
increase over the same period in the previous fiscal year.
Capital Funds
County Capital Funds
The revenues and other financing sources total $1.2 million compare
expenditures of approximately $4.8 million for the six months ended December 31, 2014. The
majority of the current fiscal year expenditures related to cons
Building Meeting Room, Information Technology, the McGowan Creek
Development Infrastructure projects, and communication system im
Services as part of the strategic plan.
School Capital Funds
The revenues and other financing sources total approximately $255,0
compared to expenditures totaled $4.6 million. The majority of the current fiscal year expenditu
related to cost incurred for capital projects for the Chapel Hil Carrboro City School District for the
six months ended December 31, 2014. A majority of revenues for the School Capital Projects fund
will be received in the third quarter of the fiscal year.
Solid Waste Fund
Revenues and transfers for the Solid Waste Fund totaled $5.2 mil
December 31, 2014. Revenues and other financing sources and uses are lower
the landfill as of June 31, 2013. Total revenues collected are 40% of the amended budget for the
fiscal year.
Expenses for the Solid Waste Fund totaled $5.3 million for the sended December 31,
2014.Total expenses are 38% of the budget for the fiscal year.
Revenues and transfers are nominally less than expenses for the ended December 31,
2014.
Sportsplex Fund
Revenues for the Sportsplex Fund totaled $1.6 million for the si31, 2014.
Total revenues are 31% of the amended budget for the fiscal year.
Expenses for the Sportsplex Fund totaled $1.9 million for the si31, 2014.
Total expenses are 41% of the budget for the fiscal year.
Revenues and net transfers are less than expenses by approximate
the same as the previous fiscal year.
Major Fund Financial Statement (Unaudited)
For the Six Months Ended December 31, 2014
ORANGE COUNTY, NORTH CAROLINA
MAJOR FUND FINANCIAL STATEMENT
FOR THE SIX MONTHS ENDED DECEMBER 31, 2014
TABLE OF CONTENTS
Exhibit
Balance Sheet - Major Governmental Funds1
Statement of Revenues, Expenditures, and Changes
in Fund Balances - Major Governmental Funds2
Statement of Revenues, Expenditures, and Changes
in Fund Balances - Budget and Actual- General Fund3
Statement of Net Position - Proprietary Funds4
Statement of Revenues, Expenses, and Changes in
Fund Net Position - Proprietary Funds5
County Capital Improvements Fund -
Schedule of Revenues, Expenditures, and Changes
in Fund Balance - Budget and Actual6
School Capital Improvements Fund -
Schedule of Revenues, Expenditures, and Changes
in Fund Balance - Budget and Actual7
F
INANCE AND ADMINISTRATIVE SERVICES
200 South Cameron Street Clarence G. Grier, CPA, CITP, CGMA Phone (919) 245-2553
Post Office Box 8181 Assistant County Manager CFO Fax (919) 644-3324
Hillsborough, North Carolina
27278
Summary Information for Major Funds for the Six months Ended as of December 31, 2014
The Major Funds 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 (revenues and transfers) for the General Fund are $132.6 million for an increase of $5.5 million or 4% over
the same period in fiscal year 2013-14. This revenue increase is mainly due to the timing, billing and collection of Ad
Valorem Taxes and Intergovernmental Revenues. Total revenues collected are 69% of the amended budget for the current
fiscal year.
Total expenditures (expenditures and transfers) for the General Fund are $89.3 million for an increase of $3.2 million or
3% over the same period in the previous year. General Fund Expenditures increased due to increased expenditures for
Human Services and Education. Total expenditures are 45% of the budget for the fiscal year.
Revenues and net transfers are more than expenditures by $43.8 million representing an increase of 7% over the same
period in the previous fiscal year.
Capital Funds
The County Capital Funds revenues and other financing sources total $1.2 million compared to expenditures of
approximately $4.8 million for the six months ended December 31, 2014. The majority of the current fiscal year
expenditures related to construction cost incurred for the Whitted Building Meeting Room, Information Technology, the
McGowan Creek Outfall, Economic Development Infrastructure projects, and communication system improvements for
Emergency Services as part of the strategic plan.
The School Capital Funds revenues and other financing sources total approximately $255,000 compared to expenditures
of $4.6 million. The majority of the current fiscal year expenditures related to cost incurred for capital projects for the
Chapel Hill Carrboro City School District for the six months ended. A majority of revenues for the School Capital Projects
Fund will be received in the third quarter of this fiscal year.
Solid Waste Fund
Revenues and transfers for the Solid Waste Fund totaled $5.2 million for the six months ended December 31, 2014.
Revenues and other financing sources and uses are lower due to the closure of the landfill as of June 31, 2013. Total
revenues collected are 40% of the amended budget for the fiscal year.
Expenses for the Solid Waste Fund totaled $5.3 million for the six months ended December 31, 2014. Total expenses are
38% of the budget for the fiscal year.
Revenues and transfers are nominally less than expenses for the six months ended December 31, 2014.
Sportsplex Fund
Revenues for the Sportsplex Fund totaled $1.6 million for the six months ended December 31, 2014. Total revenues are
31% of the amended budget for the fiscal year.
Expenses for the Sportsplex Fund totaled $1.9 million for the six months ended December 31, 2014. Total expenses are
41% of the budget for the fiscal year.
Revenues and net transfers are less than expenses by approximately $300,000, which is nominally the same as the
previous fiscal year.
1
Exhibit 1
ORANGE COUNTY, NORTH CAROLINA
BALANCE SHEET - MAJOR GOVERNMENTAL FUNDS (UNAUDITED)
December 31, 2014
Major Funds
Total
CountySchoolMajor
CapitalCapitalGovernmental
GeneralImprovementsImprovementsFunds
Assets:
Cash and investments$ 108,125,254$ 9,223,853$ 2,790,989 $ 120,140,096
Accounts receivable, - -
property taxes, net 25,961,389 - - 25,961,389
Accounts receivable, federal - - - -
Accounts receivable, State - - - -
Accounts receivable, other 1,236,377 - - 1,236,377
Inventories 29,242 - - 29,242
Due from other funds 163,337 - - 163,337
500,494 - - 500,494
Restricted cash and investments
$ 136,016,093$ 9,223,853$ 2,790,989 $ 148,030,935
Total assets
Liabilities, Deferred Inflows of
Resources, and Fund Balance:
Liabilities:
Accounts payable$ 1,454,435$ 97,004$ -$ 1,551,439
Accrued payroll and withholdings 507,199 - - 507,199
Accrued liabilities 1,342,834 - - 1,342,834
Due to other funds - - - -
- 14,637 24,739 39,376
Arbitrage payable
3,304,468 111,641 24,739 3,440,848
Total liabilities
Deferred Inflows of Resources:
Unavailable grant revenue
735,911 - - 735,911
Property taxes receivable
25,961,389 - - 25,961,389
71,155 - - 71,155
Prepaid taxes
26,768,455 - - 26,768,455
Total Deferred inflows of resources
Fund Balances:
Non-spendable:
Prepaid items - - - -
Inventories 29,242 - - 29,242
Restricted for:
Stabilization for State statute - 1,872,342 - 1,872,342
Restricted, all other 500,494 7,239,870 - 7,740,364
Committed 6,002,004 - - 6,002,004
Assigned 10,068,343 - - 10,068,343
89,343,087 - 2,766,250 92,109,337
Unassigned
105,943,170 9,112,212 2,766,250 117,821,632
Total fund balances
Total liabilities, deferred inflows of
$ 136,016,093$ 9,223,853$ 2,790,989 $ 148,030,935
resources, and fund balances
Exhibit 2
ORANGE COUNTY, NORTH CAROLINA
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - MAJOR GOVERNMENTAL FUNDS (UNAUDITED)
FOR THE SIX MONTHS ENDED DECEMBER 31, 2014
Major Funds
Total
CountySchoolMajor
Capital Capital Governmental
GeneralImprovementsImprovementsFunds
Revenues:
Property taxes$ 116,738,449 $ -$ -$ 116,738,449
Sales tax 2,860,835 - 254,099 3,114,934
Intergovernmental revenues 7,967,082 1,161,534 - 9,128,616
Charges for services 4,499,219 - - 4,499,219
Investment earnings 3,828 4,143 739 8,710
Licenses and permits 83,166 - - 83,166
Impact fees - - -
-
493,254 64,598 - 557,852
Miscellaneous
132,645,833 1,230,275 254,838 134,130,946
Total revenues
Expenditures:
Current:
Governing and management 6,930,840 - - 6,930,840
General services 4,589,752 - - 4,589,752
Community and environment 3,414,218 - - 3,414,218
Human services 15,626,383 - - 15,626,383
Education 37,929,707 - - 37,929,707
Public safety 9,571,844 - - 9,571,844
Culture and recreation 1,241,905 - - 1,241,905
Capital outlay - 4,755,205 4,578,046 9,333,251
Debt service: -
Principal 6,101,876 - - 6,101,876
3,922,245 - - 3,922,245
Interest and fees
89,328,770 4,755,205 4,578,046 98,662,021
Total expenditures
Revenues over (under) expenditures 43,317,063 (3,524,930) (4,323,208) 35,468,925
Other Financing Sources (Uses):
Bond premium - - - -
Refunding bonds - - - -
Installment loan issuances 500,000 - - 500,000
Payment to escrow agent - - - -
Transfers in - - - -
- - - -
Transfers out
500,000 - - 500,000
Total other financing sources (uses)
Net change in fund balances 43,817,063 (3,524,930) (4,323,208) 35,968,925
Fund Balances:
62,126,107 7,045,097 7,089,458 78,792,212
Beginning of year - July 1
$ 105,943,170 $ 3,520,167$ 2,766,250$ 114,761,137
Six Months Ended - December 31
Exhibit 3
ORANGE COUNTY, NORTH CAROLINA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (UNAUDITED)
FOR THE YEAR ENDED DECEMBER 31, 2014
Variance With
Budgeted Amounts
Final Budget
OriginalAmendedActualEncumbrancesOver/(Under)FY2012-13
Revenues:
Property taxes$ 145,714,650$ 145,714,650$ 116,738,449$ - $ (28,976,201) $ 110,956,568
Sales tax 19,001,962 19,001,962 2,860,835 - (16,141,127) 3,768,382
Intergovernmental revenues 13,575,486 16,134,491 7,967,082 - (8,167,409) 6,966,783
Charges for services 9,799,005 9,866,868 4,499,219 - (5,367,649) 4,543,191
Investment earnings 105,000 105,000 3,828 - (101,172) 12,858
Licenses and permits 313,000 313,000 83,166 - (229,834) 78,442
798,065 908,589 493,254 - (415,335) 763,991
Miscellaneous
189,307,168 192,044,560 132,645,833 - (59,398,727) 127,090,215
Total revenues
Expenditures:
Governing and management 17,550,722 17,563,722 6,930,840 357,677 (10,632,882) 7,437,794
General services 9,451,951 9,482,755 4,589,752 262,073 (4,893,003) 3,993,739
Community and environment 7,548,601 7,598,645 3,414,218 149,965 (4,184,427) 3,088,891
Human services 32,242,706 34,550,141 15,626,383 683,856 (18,923,758) 15,668,975
Education 76,847,414 76,847,414 37,929,707 - (38,917,707) 34,512,169
Public safety 22,382,107 22,391,107 9,571,844 143,673 (12,819,263) 9,121,040
Cultural and recreational 2,696,035 2,706,431 1,241,905 57,299 (1,464,526) 1,291,312
Debt service:
Principal 19,217,295 19,217,295 6,101,876 - (13,115,419) 6,848,134
7,312,011 7,312,011 3,922,245 - (3,389,766) 4,182,041
Interest and fees
195,248,842 197,669,521 89,328,770 1,654,543 (108,340,751) 86,144,095
Total expenditures
Revenues over (under) expenditures (5,941,674) (5,624,961) 43,317,063 (1,654,543) 48,942,024 40,946,120
Other Financing Sources (Uses):
Capital lease issuance - - 500,000 - - -
Transfers in 1,052,600 1,052,600 - - (1,052,600) -
Transfers out (5,179,269) (5,578,286) - - 5,578,286 -
10,068,343 10,150,647 - - (10,150,647) -
Appropriated fund balance
5,941,674 5,624,961 500,000 - (5,624,961) -
Total other financing sources (uses)
Net change in fund balance$ - $ - 43,817,063$ (1,654,543) $ 43,317,063$ 40,946,120
Fund Balance:
62,126,107
Beginning of year - July 1
$ 105,943,170
Six Months Ended - December 31,
-
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ORANGE COUNTY, NORTH CAROLINA
MAJOR PROPRIETARY FUNDS
STATEMENT OF NET POSITION - UNAUDITED
March 31, 2014
Total
Major
Major
Solid WasteSportsPlexProprietary
FundFundFunds
Assets:
Current assets:
Cash and cash equivalents$ 12,764,437$ 296,983$ 13,061,420
Accounts receivable, other 38,768 133,247 172,015
- - -
Prepaid expenses
12,803,205 430,230 13,233,435
Total current assets
Non-current assets:
Non-depreciable assets 3,147,916 1,231,027 4,378,943
5,515,593 5,639,292 11,154,885
Capital assets, net of depreciation
8,663,509 6,870,319 15,533,828
Total non-current assets
21,466,714 7,300,549 28,767,263
Total assets
Liabilities and Net Position:
Liabilities:
Current liabilities:
Accounts payable 56,917 41,257 98,174
Payroll withholdings 57,805 22,325 80,130
Accrued liabilities - - -
Accrued interest 44,157 31,084 75,241
Prepaid fees - 170,737 170,737
Current portion of long-term debt 316,988 633,150 950,138
190,621 - 190,621
Compensated absences, current portion
666,488 898,553 1,565,041
Total current liabilities
Non-current liabilities:
Compensated absences 127,080 - 127,080
Post-closing liability 13,123,703 - 13,123,703
OPEB liability 1,527,620 - 1,527,620
3,977,790 3,427,380 7,405,170
Long-term debt
18,756,193 3,427,380 22,183,573
Total non-current liabilities
19,422,681 4,325,933 23,748,614
Total liabilities
Net Position:
Net investment in capital assets 1,537,793 2,809,789 4,347,582
506,240 164,827 671,067
Unrestricted
$ 2,044,033$ 2,974,616$ 5,018,649
Total net position
Exhibit 5
ORANGE COUNTY, NORTH CAROLINA
STATEMENT OF REVENUES, EXPENSES, AND CHANGES
IN FUND NET POSITION - MAJOR PROPRIETARY FUNDS (UNAUDITED)
FOR THE SIX MONTHS ENDED DECEMBER 31, 2014
Total
Major
Major
Solid WasteSportsPlexProprietary
FundFundFunds
Operating Revenues:
Landfill fees$ 3,784,894 $ -$ 3,784,894
Service fees 91,380 - 91,380
Sales 306,212 1,601,505
Other 3,284 - 3,284
4,185,770 1,601,505 3,879,558
Total operating revenues
Operating Expenses:
Landfill 2,179,542 - 2,179,542
General and administrative 1,042,744 1,769,019 2,811,763
Recycling 1,114,022 1,114,022
Sanitation 849,430 - 849,430
- - -
Sportsplex
5,185,738 1,769,019 6,954,757
Total operating expenses
Operating income (loss) (999,968) (167,514) (3,075,199)
Non-Operating Revenues (Expenses):
Investment earnings 435 - 435
Interest and fees (96,082) (133,006) (229,088)
Contribution to other agency - - -
84,983 - 84,983
Grant - State
(10,664) (133,006) (143,670)
Total non-operating revenues (expenses)
Income (loss) before contributions
and transfers (1,010,632) (300,520) (3,218,869)
928,272 - 928,272
Transfers in
Change in net position (82,360) (300,520) (2,290,597)
Net Position:
2,126,393 3,275,136 5,401,529
Beginning of year - July 1
$ 2,044,033 $ 2,974,616 $ 5,018,649
Six Months Ended - December 31,
Exhibit 6
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 SIX MONTHS ENDED DECEMBER 31, 2014
Actual
BudgetReported inCurrentTotal
to DatePrior YearsYearto Date
Revenues:
Federal grants$ 6,477,333$ 6,646,877$ 1,161,534$ 7,808,411
State grants 7,946,571 5,235,521 - 5,235,521
Investment earnings 2,624,400 3,351,629 4,143 3,355,772
1,622,665 3,476,474 64,598 3,541,072
Other
18,670,969 18,710,501 1,230,275 19,940,776
Total revenues
Expenditures:
New Hope Creek Preserve 360,000 94,427 5,000 99,427
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 714,545 395,056 120,113 515,169
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 - 38,330 38,330
Whitted Human Services Center 1,795,000 850,065 772,882 1,622,947
Animal services facility 9,168,864 9,200,272 - 9,200,272
EMS relocation and meadowlands annex 3,669,214 3,570,059 87,341 3,657,400
County campus, office building, and library 26,899,000 26,890,736 - 26,890,736
County other 497,846 1,692,031 - 1,692,031
Blackwood Farm 2,584,835 2,279,170 - 2,279,170
Cedar Grove Park 1,848,000 1,847,999 - 1,847,999
Twin Creeks Park 1,720,020 844,937 - 844,937
Fairview Park 137,800 1,606,218 - 1,606,218
Conservation easement 2,278,208 1,879,782 24,558 1,904,340
Homestead Aquatics - 83,346 - 83,346
Lands Legacy - unallocated 1,493,309 112,785 - 112,785
Parkland and recreation facilities 296,312 175,011 175,011
Seven Mile Creek Preserve 145,689 145,689 - 145,689
Southern Park - 38,196 - 38,196
SportsPlex Maintenance Reserve 100,000 - - -
West Ten soccer complex 4,070,128 4,054,616 52,221 4,106,837
Central recreation repairs 414,441 414,441 - 414,441
Millhouse Road Park 258,812 258,712 - 258,712
Blackwood Farm Park 50,000 - 53,232 53,232
Joint Artificial Turf Soccer (CH) 623,000 623,000 - 623,000
Parks & Recreation Facility Renovations 77,600 1,900 138,207 140,107
Roofing projects 1,613,100 1,305,486 18,300 1,323,786
Affordable housing 2,978,804 2,150,397 182,131 2,332,528
Information technology 6,199,457 4,228,636 792,476 5,021,112
Register of Deeds' automation enhancement 655,450 261,085 26,688 287,773
Medicaid maximization 4,684,243 1,982,807 36,901 2,019,708
Loan Pool Reserve 275,000 200,000 - 200,000
Efland Sewer extension 1,798,240 111,251 5,650 116,901
HVAC projects 2,443,923 2,130,625 211,520 2,342,145
ADA compliance 16,058 16,058 - 16,058
Utilities demand reduction systems 130,000 106,055 - 106,055
Upfit of County Space - Link Center 1,906,962 1,388,813 - 1,388,813
Telephone system replacement 575,000 562,748 - 562,748
Exhibit 6
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 SIX MONTHS ENDED DECEMBER 31, 2014
Actual
BudgetReported inCurrentTotal
to DatePrior YearsYearto Date
Hillsborough Commons 3,790,000 3,780,709 - 3,780,709
Board of Elections office 97,000 34,750 1,018 35,768
Piedmont Food and Agriculture Processing 1,776,225 1,548,785 - 1,548,785
Eno EDD 315,000 - - -
800 MHz Radios 700,000 473,436 - 473,436
Dental equipment 100,000 84,894 3,045 87,939
Buckhorn EDD Phase 2 4,591,546 4,502,901 44,485 4,547,386
Payroll Software System 329,861 311,100 14,985 326,085
129 East King Street 145,000 109,991 - 109,991
Central Efland Buckhorn Sewer 4,850,560 3,680,070 - 3,680,070
McGowan Creek Outfall 1,975,159 638,477 531,143 1,169,620
Energy Bank 100,000 41,220 - 41,220
Viper Radio System 1,043,750 - 51,521 51,521
Communication System Improvements 2,436,868 1,718,678 467,761 2,186,439
Lake Orange Capital Maintenance - 189,647
346,300 189,647
Observation Well Network 11,330 11,297 - 11,297
Jail New Campus 250,000 59,442 5,025 64,467
Historic Rogers Road Community Center 727,400 179,932 466,424 646,356
Future EMS Stations 50,000 6,314 - 6,314
Southern Orange Campus (Future) 300,000 255,611 9,813 265,424
Southwest Branch Library 700,000 56,576 34,688 91,264
Efland Sewer to Mebane - - 150,920 150,920
Economic Development Infrastructure 319,907 319,907
Building Safety 25,000 -
Unallocated - - - -
1,566,376 948,611 88,920 1,037,531
Issuance costs and fees
129,120,841 109,084,979 4,755,205 113,840,184
Total expenditures
(110,449,872) (90,374,478) (3,524,930) (93,899,408)
Revenues over (under) expenditures
Other Financing Sources (Uses):
Bond issuance costs 10,582,170 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 80,586,742 73,144,911 - 73,144,911
Capital lease issuance - 2,540,999 - 2,540,999
Payment to escrow agent (21,500,000) (141,736,447) - (141,736,447)
Transfers in 22,644,159 19,909,030 - 19,909,030
Transfers out (3,742,500) (3,436,764) - (3,436,764)
1,346,937 - - -
Appropriated fund balance
111,917,508 103,011,620 - 103,011,620
Total other financing sources (uses)
$ 1,467,636$ 12,637,142$ 9,112,212
Net change in fund balance (3,524,930)
Fund Balance:
7,045,097
Beginning of year - July 1
$ 3,520,167
Six Months Ended - December 31,
Exhibit 7
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 SIX MONTHS ENDED DECEMBER 31, 2014
Actual
BudgetReported inCurrentTotal
to DatePrior YearsYearto Date
Revenues:
Investment earnings$ 60,000 $ 630,647 $ 739$ 631,386
Sales tax 180,000 87,597 254,099 341,696
Lottery proceeds 2,892,139 2,959,057 - 2,959,057
- 33,759 - 33,759
Other
3,132,139 3,711,060 254,838 3,965,898
Total revenues
Expenditures:
Orange County Schools:
A.L. Stanback Middle School 12,000 - - -
Cameron Park Elementary 525,634 524,922 - 524,922
Efland Cheeks Elementary 423,449 398,952 - 398,952
Grady Brown Elementary 54,040 54,023 - 54,023
Hillsborough Elementary 362,899 267,431 - 267,431
New Hope Elementary renovations 325,000 245,600 - 245,600
Handicap Accessibility 286,300 674 - 674
Stanford Middle School 688,065 499,377 - 499,377
Orange High School 558,767 554,381 - 554,381
Orange High Track repairs 495,634 495,634 - 495,634
Alternative School 361,720 307,043 - 307,043
Indoor air quality 15,000 - - -
Central elementary air 174,900 142,263 - 142,263
Classroom improvements 3,732,421 3,230,100 - 3,230,100
Electrical systems 360,000 172,660 - 172,660
Window replacements 685,067 420,314 - 420,314
Athletic Facilities 25,000 - - -
Energy Efficiency 28,000
Kitchen renovations project 107,785 - - -
Mechanical systems 421,000 19,312 - 19,312
Paving / parking lot improvements 118,281 80,000 - 80,000
Electrical service upgrades 33,000 - - -
Planning for future projects 300,000 - - -
Roofing projects 2,458,000 2,003,941 - 2,003,941
Technology plan 3,141,265 2,349,364 - 2,349,364
HVAC upgrade/improvements 1,493,961 1,440,350 - 1,440,350
District-wide improvements 247,745 232,029 - 232,029
Bathroom renovations 180,532 88,459 - 88,459
Fire/safety upgrades
742,480 267,591 267,591
3,328,750 - - -
Cedar Ridge Auxiliary Gym
21,686,695 13,794,420 - 13,794,420
Total Orange County Schools
Exhibit 7
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 SIX MONTHS ENDED DECEMBER 31, 2014
Actual
BudgetReported inCurrentTotal
to DatePrior YearsYearto Date
Chapel Hill Carrboro Schools:
Elementary #11 23,137,196 22,944,363 150,000 23,094,363
Morris Grove Elementary 40,000 38,911 - 38,911
Transportation Center 309,500 289,540 - 289,540
Carrboro High School 75,000 75,000 - 75,000
Carrboro Arts Wing 4,048,028 4,048,027 - 4,048,027
Abatement projects 470,080 330,942 11,107 342,049
ADA requirements 265,616 154,503 4,633 159,136
ATH facilities/playgrounds 835,000 809,247 25,650 834,897
Emergency efficiency renovations 350,000 84,060 8,770 92,830
Classroom/academic improvements 1,160,711 1,007,164 153,546 1,160,710
Doors, hardware, canopies 203,000 103,291 32,895 136,186
Electrical systems 735,152 572,646 78,991 651,637
Fire, safety, and security 855,000 549,698 108,326 658,024
Indoor air quality 576,340 482,962 18,368 501,330
Mechanical systems 2,621,417 2,027,672 186,754 2,214,426
Mobile classrooms 755,696 592,943 62,169 655,112
Parking lot improvements 320,000 286,303 26,805 313,108
Planning for future projects 450,000 450,000 - 450,000
Roofing projects 5,360,009 5,320,245 - 5,320,245
Bathroom renovations 193,406 193,406 - 193,406
Technology 8,729,033 7,168,202 1,497,571 8,665,773
Window replacements 327,484
353,658 327,484 -
4,971,676 2,339,779 2,212,461 4,552,240
Culberth Science Wing
56,815,518 50,196,388 4,578,046 54,774,434
Total Chapel Hill Carrboro Schools
60,000 43,215 - 43,215
Other expenditures
78,562,213 64,034,023 4,578,046 68,612,069
Total expenditures
(75,430,074) (60,322,963) (4,323,208) (64,646,171)
Revenues over (under) expenditures
Other Financing Sources (Uses):
Bonds issuance 14,170,874 14,170,873 - 14,170,873
Installment loan insurance 29,800,426 37,397,964 - 37,397,964
Transfers in 31,411,029 15,843,584 15,843,584
47,745 - - -
Appropriated fund balance
75,430,074 67,412,421 - 67,412,421
Total other financing sources (uses)
$ - $ 7,089,458 $ 2,766,250
Net change in fund balance (4,323,208)
Fund Balance:
Beginning of year - July 1
7,089,458
$ 2,766,250
Six Months Ended - December 31,