Harnett County, North Carolina
Enterprise Funds
Combining Statement of Revenues, Expenses, and Changes in Retained Earnings
For the Year Ended June 30, 2001
With Comparative Totals for the Year Ended June 30, 2000
 
Bunnlevel/
  Harnett Northeast  Buies Creek/ South Central West Central Northwest Southwest Riverside Southeast East Central Total Solid Waste Totals
County Public Metro  Water Coats Sewer Water and Water and  Water and Water and  Water and Water and Water and Eliminations Public Utility Management June 30, June 30,
Utilities Fund   Sewer Fund   Fund   Sewer Fund   Sewer Fund   Sewer Fund   Sewer Fund   Sewer Fund   Sewer Fund   Sewer Fund       Funds Fund   2001   2000
Operating revenues:
  Charges for services  $   8,340,676  $                 -  $                 -  $                 -  $                 -  $                 -  $                 -  $                 -  $                 -  $                  -  $                    -  $     8,340,676  $                 -  $    8,340,676  $    7,770,587
  Water and sewer taps 353,963 --- --- --- --- --- --- --- --- --- --- 353,963 ---           353,963 391,458
  Restricted intergovernmental --- --- --- --- --- --- --- --- --- --- --- --- ---                       - 9,992
  Solid waste user fees --- --- --- --- --- --- --- --- --- --- --- --- 2,386,815        2,386,815 2,449,731
  Other operating revenues  1,010,274 --- --- --- --- --- --- --- --- --- --- 1,010,274 7,761        1,018,035 902,737
Total operating revenues 9,704,913 --- --- --- --- --- --- --- --- --- --- 9,704,913 2,394,576 12,099,489 11,524,505
Operating expenses:      
  Operating expenses 6,144,585 --- --- --- --- --- --- ---   --- --- --- 6,144,585 2,656,545        8,801,130 7,354,967
  Depreciation 2,094,642 --- --- --- --- --- --- --- --- --- --- 2,094,642 97,124        2,191,766 1,826,859
Total operating expenses 8,239,227 --- --- --- --- --- --- --- --- --- --- 8,239,227 2,753,669 10,992,896 9,181,826
      Operating income 1,465,686 --- --- --- --- --- --- --- --- --- --- 1,465,686 (359,093) 1,106,593 2,342,679
Non-operating revenues (expenses):
  Interest earned on investments 214,238 --- --- --- --- --- --- --- --- --- --- 214,238 154,923           369,161 621,628
  Interest on debt --- (484,016) (69,787) (242,866) (134,443) (135,930) (251,519) (8,788) (71,566) (187,569) --- (1,586,484) ---       (1,586,484) (1,633,880)
  Solid waste state taxes --- --- --- --- --- --- --- --- --- --- --- --- 81,250             81,250 95,160
  Amortization (13,048) --- --- --- --- --- --- --- --- --- --- (13,048) ---            (13,048) (38,996)
  Federal and state grants 3,565,400 --- --- --- --- --- --- --- --- --- --- 3,565,400 ---        3,565,400 ---
  Other non-operating expenses (95) --- --- --- --- --- --- --- --- --- --- (95) ---                   (95) (537)
Total non-operating revenues (expenses) 3,766,495 (484,016) (69,787) (242,866) (134,443) (135,930) (251,519) (8,788) (71,566) (187,569) --- 2,180,011 236,173        2,416,184 (956,625)
    Net income (loss) before operating transfers
       and capital contributions 5,232,181 (484,016) (69,787) (242,866) (134,443) (135,930) (251,519) (8,788) (71,566) (187,569) --- 3,645,697 (122,920)        3,522,777 1,386,054
                                             
Operating transfers and capital contributions:                            
  Capital contributions 6,811,905 --- --- --- --- --- --- --- --- --- --- 6,811,905 --- 6,811,905 ---
  Operating transfers in 484,016 69,787 242,866 134,443 135,930 251,519 8,788 71,566 187,569 (1,586,484) --- --- --- ---
  Operating transfers out (1,936,484) --- --- --- --- --- --- --- --- --- 1,586,484 (350,000) --- (350,000) ---
    Net income 10,107,602 --- --- --- --- --- --- --- --- --- --- 10,107,602 (122,920) 9,984,682 1,386,054
Add depreciation on contributed capital 576,806 --- --- --- --- --- --- --- --- --- --- 576,806 ---           576,806 575,472
Increase in retained earnings 10,684,408 --- --- --- --- --- --- --- --- --- --- 10,684,408 (122,920)      10,561,488 1,961,526
Retained earnings, beginning of year, July 1 12,542,958 --- --- --- --- --- --- --- --- --- --- 12,542,958       1,094,185      13,637,143 11,628,313
Residual equity transfer --- --- --- --- --- --- --- --- --- --- --- --- ---                     -   47,304
Retained earnings, end of year, June 30  $ 23,227,366  $                 -  $                 -  $                 -  $                 -  $                 -  $                 -  $                 -  $                 -  $                  -  $                    -  $   23,227,366  $      971,265  $  24,198,631  $  13,637,143