Town%20of%20Nags%20Head

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Town of Nags Head

• 2009 Audited Financial Statements

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Audit Highlights

• Unqualified Opinion
• No questioned costs
• Cooperative Staff

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General Fund Summary
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Fund Balance

• Serves as a measure of the Towns financial
  resources available
• Assets Liabilities Fund Balance
• 3 Classifications
• Reserved
• Unreserved Designated (Available)
• Unreserved Undesignated (Available)

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Total Fund BalanceGeneral Fund
505,939
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Total Fund BalanceGeneral Fund

• Total Fund Balance 8,999,672
• Required Reservations -1,392,711
• Unreserved Fund Balance 7,606,961
• Designated for Subsequent years -737,063
• Unreserved 2009 6,869,898
• Unreserved 2008 7,347,800
• Decrease in Undesignated FB 477,902

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Unreserved Fund Balance as a Percent of
Expenditures General Fund
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Ad Valorem Taxes
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Other Taxes and Licenses
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Intergovernmental Revenues
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General Government
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Public Safety
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Environmental Protection
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Public Works
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Debt Service
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Enterprise FundsSummary of Budgetary Results

• Water Stormwater
• Cash 3,988,036 303,521
• Operating Revenues 2,398,309
  112,368
• Operating Expenditures
  2,837,488 125,505
• Operating Income (loss)
  (439,179) (13,137)
• Change in Net Assets
  (654,744) (11,353)

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Enterprise Funds

• Required Cash Flow Unrestricted
• Debt Service From
  Operations Net Assets
• Water 130,283 (25,614)
  3,660,893
• Stormwater 13,764 (11,449)
  307,840
• Comparison to June 30, 2008
• Water 154,455 44,903 3,877,353
• Stormwater 13,764 134,872 320,047

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Water FundQuick Ratio
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StormwaterQuick Ratio
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• Discussion
• Questions

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Town of Nags Head