County of Surry, North Carolina

Transcription

County of Surry, North Carolina
COMPREHENSIVE
ANNUAL
FINANCIAL
REPORT
For the Fiscal Year
Ended June 30, 2013
Assistant County Manager for Budget and Finance
Betty W. Taylor
SURRY COUNTY, NORTH CAROLINA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2013
TABLE OF CONTENTS
Page
Introductory Section
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Financial Section
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TABLE OF CONTENTS
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Basic Financial Statements (continued):
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TABLE OF CONTENTS
Schedule
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Other Major Governmental Funds (continued):
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TABLE OF CONTENTS
Schedule
Page
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Statistical Section:
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TABLE OF CONTENTS
Table
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Statistical Section (continued):
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Compliance Section:
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TABLE OF CONTENTS
Page
Compliance Section (continued):
Report On Compliance For Each Major State Program;
Report On Internal Control Over Compliance; In
Accordance With OMB Circular A-133: And The State
Single Audit Implementation Act
153-154
Schedule of Findings and Questioned Costs
155-157
Summary Schedule of Prior Year Findings
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Schedule of Expenditures of Federal and State Awards
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INTRODUCTORY SECTION
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COUNTY OF SURRY,
NORTH CAROLINA
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Organizational Structure
Surry County is organized on a departmental structure basis. An organizational chart of the
County government is shown as follows:
COUNTY OF SURRY
ORGANIZATIONAL CHART
REGISTERED VOTERS OF SURRY COUNTY
BOARD OF COUNTY COMMISSIONERS
SHERIFF
REGISTER OF DEEDS
COUNTY MANAGER
CLERK TO THE BOARD
COUNTY ATTORNEY
COUNTY DEPARTMENTS
SOCIAL SERVICES
VETERANS SERVICE
BUILDINGS/MAINTENANCE
FIRE MARSHAL/EMERGENCY MGT.
MGMT INFORMATION SYSTEMS
FINANCE
TAX
PLANNING
RECREATION
INSPECTION/ZONING
HEALTH
ECONOMIC DEVELOPMENT
SOLID WASTE
EMERGENCY MED. SERVICES
HUMAN RESOURCES
THESE AGENCIES RECEIVE BUDGET SUPPORT FROM SURRY COUNTY, BUT ARE NOT SUPERVISED
BY THE COUNTY MANAGER OR THE BOARD OF COMMISSIONERS.
PUBLIC LIBRARIES
AIRPORTS
MOUNT AIRY SCHOOLS
BOARD OF ELECTIONS
ELKIN SCHOOLS
SURRY COUNTY SCHOOLS
VOLUNTEER FIRE DEPTS.
ARTS COUNCILS
SURRY FRIENDS OF YOUTH
SOIL CONSERVATION DIST.
PTRC
SURRY COMMUNITY COLLEGE
PARTNERS BEHAVIORAL HLTH MGT. CHILDREN'S CENTER
VOLUNTEER RESCUE SQUADS
YADKIN VALLEY ECON. DEV. DIST.
COOPERATIVE EXT. SERVICE
SURRY SCAN
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FINANCIAL SECTION
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1
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the
financial position of the governmental activities, the business-type activities, the discretely presented
component unit, each major fund, and the aggregate remaining fund information of Surry County, North
Carolina, as of June 30, 2013, and the respective changes in financial position, and, where applicable,
cash flows thereof and the respective budgetary comparison for the General Fund for the year then ended
in accordance with accounting principles generally accepted in the United States of America.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Management’s
Discussion and Analysis and the Law Enforcement Officers' Special Separation Allowance and the Other
Post-Employment Benefits’ Schedules of Funding Progress and Employer Contributions be presented to
supplement the basic financial statements. Such information, although not a part of the basic financial
statements, is required by Governmental Accounting Standards Board who considers it to be an essential
part of financial reporting for placing the basic financial statements in an appropriate operational,
economic, or historical context. We have applied certain limited procedures to the required
supplementary information in accordance with auditing standards generally accepted in the United States
of America, which consisted of inquiries of management about the methods of preparing the information
and comparing the information for consistency with management’s responses to our inquiries, the basic
financial statements, and other knowledge we obtained during our audit of the basic financial statements.
We do not express an opinion or provide any assurance on the information, because the limited
procedures do not provide us with sufficient evidence to express an opinion or provide assurance.
Supplementary and Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise Surry County, North Carolina's basic financial statements. The combining and individual
nonmajor fund financial statements, budgetary schedules, other schedules, and the other information, such
as the Introductory Section and Statistical Section, as well as the accompanying Schedule of Expenditures
of Federal and State Awards as required by U.S. Office and Management and Budget Circular A-133,
Audits of State and Local Governments, and Non-Profit Organizations and the State Single Audit
Implementation Act, are presented for purposes of additional analysis and are not a required part of the
basic financial statements.
The combining and individual nonmajor fund financial statements, budgetary schedules, other schedules,
and the Schedule of Expenditures of Federal and State Awards are the responsibility of management and
were derived from and relate directly to the underlying accounting and other records used to prepare the
basic financial statements. Such information has been subjected to the auditing procedures applied in the
audit of the basic financial statements and certain additional procedures, including comparing and
reconciling such information directly to the underlying accounting and other records used to prepare the
basic financial statements or the basic financial statements themselves, and other additional procedures in
accordance with auditing standards generally accepted in the United States of America. In our opinion,
the combining and individual nonmajor fund financial statements, budgetary schedules, other schedules
and the Schedule of Expenditures of Federal and State Awards are fairly stated, in all material respects, in
relation to the basic financial statements as a whole.
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3
MANAGEMENT’S DISCUSSION AND ANALYSIS
As management of Surry County, we offer readers of Surry County’s financial statements
this narrative overview and analysis of the financial activities of Surry County for the
fiscal year ended June 30, 2013. We encourage readers to consider the information
presented here in conjunction with additional information furnished in the County’s
financial statements, which follow this narrative.
FINANCIAL HIGHLIGHTS
x
x
x
x
x
x
x
x
x
The assets and deferred outflows of resources of Surry County exceeded its liabilities
and deferred inflows of resources at the close of the most recent fiscal year by
$78,835,606 (net position).
The County’s total net position increased by 9,182,447 primarily attributable to
increased net position in the General Fund.
As of the close of the current fiscal year, Surry County’s governmental funds reported
combined ending fund balance of $27,216,335, after a net increase of $5,023,323, in
comparison with the prior year. Approximately 50% of this total amount, or
$13,319,894, is restricted or non-spendable.
At the end of the current fiscal year, unassigned fund balance for the General Fund
was $736,809, or 1.1 percent, of total General Fund expenditures for the fiscal year.
The total available General Fund balance as of June 30, 2013 was $20,083,609 and
was equal to 29.1% of General Fund expenditures.
During the current fiscal year, Surry County’s total debt decreased by $6,945,933.
The County entered into a three-year capital lease for information technology
equipment, total lease agreement was $138,151.
In October 2012, Surry County sold its Home Health Certificate of Need for
$2,500,000.
The County holds the following bond ratings:
Moody’s
Standard & Poor’s
Aa3
A+
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to Surry County’s
basic financial statements. Surry County’s basic financial statements are comprised of
three components: 1) government-wide financial statements, 2) fund financial statements,
and 3) notes to the financial statements (Figure 1). The basic financial statements present
two different views of the County through the use of government-wide statements and
fund financial statements. In addition to the basic financial statements, this report
contains other supplemental information that will enhance the reader’s understanding of
the fiscal condition of Surry County.
Required Components of Annual Financial Report
Figure 1
Management’s
Management's
Discussion
and
Discussion and
Analysis
Analysis
GovernmentWide Financial
Statements
Basic
General
Purpose
Financial
Financial
Statements
Statements
Fund
Financial
Statements
Summary
Notes to the
Financial
Statements
Detail
BASIC FINANCIAL STATEMENTS
The first two statements, Exhibits A and B, in the basic financial statements are the
Government-Wide Financial Statements. They provide both short and long-term
information concerning the County’s financial status.
The next statements, Exhibits C through J, are the Fund Financial Statements. These
statements focus on the activities of the individual parts of the County’s government,
providing more detail than the government-wide statements. There are four parts to the
fund financial statements: 1) the governmental funds statements; 2) the budgetary
comparison statements; 3) the proprietary fund statements; and 4) the fiduciary and
agency fund statements.
The final section of the basic financial statements is the Notes to the Financial
Statements. The notes offer a detailed examination about various information contained
in the statements. Following the notes, supplemental information provides details of
the County’s nonmajor governmental funds that are combined in one column on the basic
financial statements. Budgetary information required by the North Carolina General
Statutes can also be found in this part of the statements.
Following the notes is the required supplemental information. This section contains
funding information about the County’s pension plans.
GOVERNMENT-WIDE FINANCIAL STATEMENTS
The government-wide financial statements are designed to provide readers with a broad
overview of Surry County’s finances, in a manner similar to a financial statement of a
private-sector business. The government-wide statements provide short and long-term
information about the County’s financial status as a whole.
The two government-wide statements report the County’s net position and how it has
changed. Net position is the difference between the total of the County’s assets and
deferred outflows of resources and the total liabilities and deferred inflows of resources.
Measuring net position is one way to gauge the County’s financial condition.
Both of the government-wide financial statements distinguish functions of Surry County
that are principally supported by taxes and intergovernmental revenues (governmental
activities) from other functions that are intended to recover all or a significant portion of
their costs through user fees and charges (business-type activities). The governmental
activities of Surry County include general government, public safety, public education,
human services, cultural and recreation, economic development, and general
administration. The business-type activities of Surry County are the solid waste (landfill)
operation and water/sewer operations.
The government-wide financial statements include not only Surry County itself (known
as the primary government), but also the Flat Rock/Bannertown Water and Sewer District
and the Interstates Water and Sewer District for which Surry County is financially
accountable. The Surry County Board of Commissioners also serves as the Governing
Body of both Districts. Financial information for the Flat Rock/Bannertown District is
reported separately from the financial information presented for the primary government
itself.
The government-wide financial statements can be found on pages 17-19 of this report.
FUND FINANCIAL STATEMENTS
The fund financial statements provide a more detailed look at the County’s most
significant activities. A fund is a grouping of related accounts that is used to maintain
control over resources that have been segregated for specific activities or objectives.
Surry County, like other State and local governments, uses fund accounting to ensure and
demonstrate compliance with finance-related legal requirements. All funds of Surry
County can be divided into three categories: governmental funds, proprietary funds, and
fiduciary funds.
Governmental Funds. Governmental funds are used to account for those functions
reported as governmental activities in the government-wide financial statements. Most of
the County’s basic services are accounted for in governmental funds. These funds focus
on how assets can readily be converted into cash flow in and out, and what monies are
left at year-end that will be available for spending in the next year. Governmental funds
are reported using an accounting method called modified accrual accounting, which
provides a current financial resources focus. As a result, the governmental fund financial
statements give the reader a detailed short-term view that helps him or her determine if
there are more or less financial resources available to finance the County’s programs.
The relationship between government activities (reported in the Statement of Net Position
and the Statement of Activities) and governmental funds is described in a reconciliation
that is a part of the fund financial statements.
Surry County adopts an annual budget for its General Fund, as required by the General
Statutes. The budget is a legally adopted document that incorporates input from the
citizens of the County, the management of the County, and the decisions of the Board
about which services to provide and how to pay for them. It also authorizes the County
to obtain funds from identified sources to finance these current period activities. The
budgetary statement provided for the General Fund demonstrates how well the County
complied with the budget ordinance and whether or not the County succeeded in
providing the services as planned when the budget was adopted. The budgetary
comparison statement uses the budgetary basis of accounting and is presented using the
same format, language, and classifications as the legal budget document. The statement
shows four columns: 1) the original budget as adopted by the Board, 2) the final budget
as amended by the Board, 3) the actual resources, charges to appropriations, and ending
balances in the General Fund, and 4) the difference or variance between the final budget
and the actual resources and charges. To account for the difference between the
budgetary basis of accounting and the modified accrual basis, a reconciliation showing
the differences in the reported activities is shown at the end of the budgetary statement.
Proprietary Funds. Surry County maintains one type of proprietary fund, specifically
enterprise funds. Enterprise funds report the same functions presented as business-type
activities in the government-wide financial statements. Surry County uses enterprise
funds to account for its Solid Waste (landfill) operations and the Water/Sewer Districts.
These enterprise funds are the same as those separate activities shown in the businesstype activities in the Statement of Net Position and the Statement of Activities. The
proprietary fund financial statements provide separate information for Solid Waste
operations and Water/Sewer operations.
Fiduciary Funds. Fiduciary funds are used to account for assets the County holds on
behalf of others. The County has six fiduciary funds.
Notes to the Financial Statements. The notes provide additional information that is
essential to a full understanding of the data provided in the government-wide and fund
financial statements. The notes to the financial statements can be found on pages 31-70
of this report.
Other Information. In addition to the basic financial statements and accompanying
notes, this report also presents certain required supplementary information concerning
Surry County’s progress in funding its obligation to provide pension benefits to its public
safety employees. Required supplemental information can be found on pages 71-72 of
this report.
GOVERNMENT-WIDE FINANCIAL ANALYSIS
As noted earlier, net position over time may serve as a useful indicator of a government’s
financial position. For Surry County, assets and deferred outflows of resources exceeded
liabilities and deferred inflows of resources by $78,835,606 at the close of the most
recent fiscal year. The County’s net position increased by $9,182,447 as of June 30,
2013.
By far, the largest portion (75%) of Surry County’s net position reflects the County’s net
investment in capital assets and construction in progress (e.g., land, buildings, machinery,
and equipment). Surry County uses these capital assets to provide services to citizens;
consequently, these assets are not available for future spending. Although Surry
County’s investment in its capital assets is reported net of related debt, it should be noted
that the resources needed to repay this debt must be provided from other sources, since
the capital assets cannot be used to liquidate these liabilities.
Approximately 17% of Surry County’s net position represents resources that are subject
to external restriction on how they may be used. The majority of restricted net position is
reserves by the County for future repayment of education-related debt.
Surry County's Net Position
Figure 2
Governmental
Activities
2013
2012
Business-Type
Activities
2013
2012
Total
2013
2012
Current and other
assets
$ 31,368,190 $ 28,753,074 $ 1,731,406 $ 1,746,575 $ 33,099,596 $ 30,499,649
Capital assets, net
91,268,573
79,546,904
17,449,487
17,372,402
108,718,060
96,919,306
Construction in
14,952,961
14,712,731
304,420
240,230
1,416,720
1,112,300
progress
123,749,063
123,012,709
19,485,313
19,359,207
143,234,376
142,371,916
Total assets
Long-term liabilities
outstanding
Other liabilities
Total liabilities
54,962,471
2,449,798
57,412,269
60,595,964
4,852,945
65,448,909
6,749,646
77,335
6,826,981
7,204,125
65,723
7,269,848
61,712,117
2,527,133
64,239,250
67,800,089
4,918,668
72,718,757
Total deferred inflows
of resources
159,520
638,516
-
-
159,520
638,516
Net Position:
Net investment in
capital assets
45,246,112
42,472,931
13,635,352
13,072,772
58,881,464
55,545,703
Restricted
13,084,684
12,101,411
13,084,684
12,101,411
2,989,458
(977,020)
(983,413)
6,869,458
2,006,045
7,846,478
Unrestricted
Total net position $ 66,177,274 $ 57,563,800 $ 12,658,332 $ 12,089,359 $ 78,835,606 $ 69,653,159
From the previous year, Surry County’s governmental activities net position increased by
$8,613,474. The County completed several capital projects this fiscal year for the three
school systems, County buildings, and water/sewer construction. Current resources were
used to complete these projects. The County did not issue any new installment or bond
debt; however, a three year capital lease agreement was executed this fiscal year in the
amount of $138,151. The County also transferred ownership of a water capital project to
business-type activities totaling $810,788.
Net position for business-type activities increased by $568,973. This increase is
primarily due to the transfer of a water capital project totaling $810,788 to the
water/sewer operations from governmental activities to business-type activities.
Surry County's Changes in Net Position
Figure 3
Governmental Activities
2013
2012
Business-Type Activities
2013
2012
Revenues:
Program revenues:
$ 12,961,001 $ 11,712,491 $
Charges for services
Operating grants and
14,075,045
15,530,751
contributions
Capital grants and
421,307
132,583
contributions
General revenues:
35,310,493
34,883,475
Property taxes
15,177,406
15,123,965
Local option sales tax
Grants and contributions,
not restricted to specific
1,373,206
1,459,490
programs
362,324
354,970
Other
79,673,428
79,205,079
Total revenues
Expenses:
General government
Public safety
Economic and physical
development
Human services
Cultural and recreational
Education
Interest and fees
Water and sewer
Landfill operations
Total expenses
Increase/decrease in net
position before transfers
Transfers
Increase in net position
after transfers
Net Position:
Beginning of year - July 1
End of year - June 30
2,747,186 $
Total
2013
2012
2,511,929 $ 15,708,187 $ 14,224,420
125,635
243,410
14,200,680
15,774,161
-
-
421,307
132,583
-
-
35,310,493
15,177,406
34,883,475
15,123,965
41
2,872,862
63
2,755,402
1,373,206
355,011
82,546,290
1,459,490
362,387
81,960,481
9,024,289
18,059,204
10,964,428
17,735,735
-
-
9,024,289
18,059,204
10,964,428
17,735,735
2,478,965
18,844,398
1,008,006
18,520,559
2,189,455
70,124,876
2,756,635
21,736,284
992,421
21,248,856
2,322,521
77,756,880
170,189
583,331
2,485,447
3,238,967
184,079
560,302
2,646,118
3,390,499
2,478,965
18,844,398
1,008,006
18,520,559
2,359,644
583,331
2,485,447
73,363,843
2,756,635
21,736,284
992,421
21,248,856
2,506,600
560,302
2,646,118
81,147,379
9,548,552
1,448,199
(366,105)
(635,097)
9,182,447
813,102
(501,541)
935,078
501,541
-
-
946,658
568,973
(133,556)
9,182,447
813,102
(935,078)
8,613,474
57,563,800
56,617,142
12,089,359
12,222,915
69,653,159
68,840,057
$ 66,177,274 $ 57,563,800 $ 12,658,332 $ 12,089,359 $ 78,835,606 $ 69,653,159
Governmental Activities. Of total net position, governmental activities accounted for
$66,177,274 (84%). Operating grants/contributions ($14,075,045) and local option sales
taxes ($15,177,406) funded a combined $29,252,451 of the County’s governmental
activities. Only property taxes provided a higher source of revenue ($35,310,493).
Charges for services funded $12,961,001 of Surry County’s governmental activities.
Several particular aspects of the County’s financial operations influenced the total
unrestricted governmental net position:
x
x
x
x
Continued diligence in the collection of property taxes by maintaining a collection
percentage to 97.13%
Property values increased by $20,324,656 from the prior year.
Charge for services increased by $1,248,510.
Surry County sold its Home Health Certificate of Need for $2,500,000.
Business-Type Activities. Business-type activities increased Surry County’s net position
by $568,973. There were several factors that affected the increase of net assets.
Key elements of the net position increase of Surry County’s business-type activities are:
x
x
x
x
x
x
Local contributions to the Water/Sewer Capital Project fund were reduced by
$100,900 from the prior year.
Flat Rock/Bannertown had an operating loss of $118,819, which is mainly
attributable to the bond interest payment of $104,508.
General Fund transfers of $935,078 for capital assets ($810,788), operating costs of
various water and sewer projects ($104,290), and landfill operations ($20,000).
Business-type expenses decreased by $151,532, as compared to the prior fiscal year.
This reduction is attributable to landfill operations.
Landfill charges for services also increased by $194,253.
Also worth noting, charges for services in the water/sewer operations increased
$41,004 from the prior year.
FINANCIAL ANALYSIS OF THE COUNTY’S FUNDS
As noted earlier, Surry County uses fund accounting to ensure and demonstrate
compliance with finance-related legal requirements.
Governmental Funds. The focus of Surry County’s governmental funds is to provide
information on near-term inflows, outflows, and balances of spendable resources. Such
information is useful in assessing the County’s financing requirements. In particular,
fund balance available for appropriation may serve as a useful measure of a County’s net
resources available for spending at the end of the fiscal year.
The General Fund is the chief operating fund of Surry County. At the end of the current
fiscal year, the County’s fund balance available in the General Fund was $20,083,609,
while total fund balance reached $25,825,690. The County currently has an available
fund balance of 29.1% of General Fund expenditures, while total fund balance represents
37.4% of that same amount. The County currently does not have a fund balance policy.
As of the end of the current fiscal year, Surry County’s governmental funds reported
combined ending fund balances of $27,216,335, a 22.6% increase ($5,023,323) over last
year. The primary reason for this increase is the increase in fund balance in the General
fund.
Key factors in this increase are as follows:
x
x
x
x
Property tax collections increased by $427,018 from the previous year.
Charges for services were up by $1,248,510 from the previous year.
Governmental funds expenditures were down $7,372,222 from the previous year.
The General Fund and Schools Capital Project Fund accounted for the majority of the
reduction with $4,189,308 and $2,658,558 respectively.
$2,500,000 received for sale of Home Health Certificate of Need.
At the end of the current fiscal year, unassigned fund balance in the General Fund was
$736,809, while total fund balance for the General Fund was $25,825,690. As a measure
of the General Fund’s liquidity, it may be useful to compare both unassigned fund
balance and total fund balance to total fund expenditures. Unassigned fund balance
represents 1.1% of total General Fund expenditures, while total fund balance represents
37.4% of that same amount.
Other governmental funds include special revenue and capital project funds. These funds
reflected a combined fund balance of $1,390,645 at June 30, 2013. This amount
decreased $659,906 as compared to the previous year. The decrease is primarily
attributable to the Schools Capital Project Fund and use of proceeds from installment
financing. Construction and renovation projects were completed at three school
campuses during this fiscal year.
General Fund Budgetary Highlights. During the fiscal year, the County revised the
budget on several occasions. Generally, budget amendments fall into one of three
categories: 1) amendments made to adjust the estimates that are used to prepare the
original budget ordinance once exact information is available; 2) amendments made to
recognize new funding amounts from external sources, such as Federal and State grants;
and 3) increases in appropriations that become necessary to maintain services. Total
amendments to the General Fund increased revenues by $1,339,292 and increased fund
balance by $292,857.
The majority of the amendments were attributable to restricted intergovernmental
revenue and increases in fees for services. These revenue increases also resulted in
similar amendments to expenditures. The expenditure increases occurred in general
government, public safety, economic and physical development, human services, and
recreation.
Following are the primary components of the increase:
x
x
x
x
$211,000 in additional grant funding for the HUD Home Program
$185,429 to purchase a new ambulance and equipment for 911 Communications
$138,151 capital lease proceeds for equipment
$520,603 for Department of Social Services programs due to increased allocations
from Federal and State funding
There were smaller amendments made throughout the fiscal year to numerous other
General Fund budgets; these amounts were insignificant (per budget) to list.
Proprietary Funds. Surry County’s proprietary funds provide the same type of
information found in the government-wide financial statements, but in more detail.
Net position of the Landfill Fund at the end of the year totaled $3,615,560. Of this total,
$4,972,939 was the net investment in capital assets; therefore, the fund had ($1,357,379)
in unrestricted net position. The Flat Rock/Bannertown Water and Sewer District Fund
had net position at the end of the year of $3,388,558. Of this total, $3,344,077 was the
net investment in capital assets; therefore, the fund had $44,481 in unrestricted net
position. The Interstates Water and Sewer District had net position at the end of the year
of $2,443,607. Of this total, $2,107,729 was the net investment in capital assets and the
fund had $335,878 in unrestricted net position. The Dobson Area Water and Sewer Fund
had net position of $2,409,954. Of this total, $2,409,954 was the net investment in
capital assets and the fund had -0- in unrestricted net position. The Elkin Area Water and
Sewer Fund had net position of $800,653. Of this total, $800,653 was the net investment
in capital assets therefore, the fund had -0- in unrestricted net position.
CAPITAL ASSET AND DEBT ADMINISTRATION
x
Capital Assets. Surry County’s investment in capital assets for its governmental and
business type activities as of June 30, 2013 amounts to $110,134,780 (net of
accumulated depreciation). This investment in capital assets includes land, buildings
and systems, improvements, machinery, and equipment. The total decrease in Surry
County’s investment in capital assets for the current fiscal year was 1.5% (a 1.9%
decrease for governmental activities and a 0.8% increase for business-type activities).
Major capital asset transactions during the year include:
Business-Type Activities:
x
x
x
The Landfill replaced and disposed of several pieces of heavy equipment/vehicles
during the year resulting in assets being increased by $5,874.
The completed Gentry Road Water Project was transferred from the County Capital
Projects Fund to the Elkin Area Water and Sewer Fund. Assets increased by
$810,788.
The increase in net assets is attributable to the transfer from General Fund of the
Gentry Road Water Project.
Governmental Activities:
x
x
x
Construction was completed on the Gentry Road Water Project. The project was
transferred to the business-type activities for the Elkin Area Water and Sewer Fund.
This reduced governmental assets by $810,788.
The County reduced construction in progress by $13,780,386. In addition to the
Gentry Road Project ($810,788), a new school campus was transferred to buildings
($12,969,598).
The decrease in net assets is due to the accumulated depreciation that increased 2.2
million dollars. This in substantially due to the buildings put into service this fiscal
year, as well as full year depreciation on building assets put into service in FY 2012.
Surry County's Capital Assets
Figure 4
Land
Buildings and
improvements
Furniture and equipment
Vehicles
Construction in progress
Plant and distribution
Subtotal
Less: Accumulated
depreciation
Total
2012
$ 1,537,091 $
Total
2013
9,005,692 $
2012
8,991,627
2013
$ 7,468,601
2012
$ 7,454,536
2013
$ 1,537,091
94,624,976
5,992,013
4,168,551
1,112,300
113,366,441
81,223,208
5,771,519
3,835,527
14,712,731
112,997,521
8,840,755
2,572,076
877,592
304,420
11,846,713
25,978,647
8,830,790
2,615,746
838,013
240,230
11,035,925
25,097,795
103,465,731
8,564,089
5,046,143
1,416,720
11,846,713
139,345,088
90,053,998
8,387,265
4,673,540
14,952,961
11,035,925
138,095,316
(20,985,568)
(18,737,886)
(8,224,740)
(7,485,163)
(29,210,308)
(26,223,049)
$ 92,380,873 $ 94,259,635 $ 17,753,907 $ 17,612,632 $ 110,134,780 $ 111,872,267
Additional information on Surry County’s capital assets can be found in Note 5 on pages
46-49 of this report.
Long-Term Debt. At the end of the current fiscal year, Surry County had total bonded
debt outstanding of $4,622,000, which includes $2,427,000 for Flat Rock/Bannertown
Water and Sewer District and is backed by the full faith and credit of the County.
Surry County’s Outstanding
General Obligation Bonds
Figure 5
2013
2012
General obligation
bonds
2013
2012
Total
2013
2012
$ 2,195,000 $ 3,875,000 $ 2,427,000 $ 2,459,000 $ 4,622,000 $ 6,334,000
10000000
8000000
6000000
$6,334,000
$4,622,000
4000000
2000000
2013
2012
This outstanding General Obligation indebtedness is out of a legal debt limit of
approximately $ 429,524,730. This legal debt limit is determined by the Municipal
Finance Law of North Carolina that limits the amount of net bonded debt a County may
have outstanding to 8% of the appraised value subject to taxation. After consideration of
all outstanding debt, Surry County had a remaining legal debt margin of $378,132,800.
The ratio of debt service expenditures to total general governmental expenditures is
13.81%.
The County's general obligation debt per capita is $62 as of June 30, 2013 while the
County’s gross debt per capita is $703 due to $47,925,182 in other long-term installment
purchase financing for the County’s landfill, schools, other buildings, and equipment.
Overall, Surry County’s total gross debt had a net decrease of $6,945,933 (11.7%) during
the current fiscal year. The County payments on installment financing reduced the
outstanding balance by $5,372,084. General Obligation Bond payments reduced the
outstanding balance by $1,712,000. The County entered into a three-year capital lease
for equipment in the amount of $138,151 during this fiscal year.
Additional information on Surry County’s long-term debt can be found in Note 10 on
pages 57-62 of this report.
ECONOMIC FACTORS AND NEXT YEAR’S BUDGET AND RATES
x
x
x
x
The Surry County unemployment rate for August 2013 was 8.7%, which is a
decrease of 1.7% compared to last year’s rate of 10.4%. As a comparison, the
State’s seasonally adjusted current unemployment rate is 8.3%.
Weyerhaeuser is the largest taxpayer in the County with 1.383% of total taxable
assessed value. Duke Energy Corporation is second with 1.331%.
Inflationary trends in the region compare likewise to State and national indices.
Population of 74,702 has grown 3.8% from 2003 to 2012.
All of these factors were considered in preparing Surry County’s budget for Fiscal Year
2013-2014.
BUDGET HIGHLIGHTS FOR FISCAL YEAR 2013-2014
Governmental Activities. Surry County has budgeted approximately 1.4% increase in
the property tax base as compared to the previous year. With the adoption of the FY
2013-2014 budget, the Board of Commissioners maintained the tax rate at 58.2 cents per
$100 of assessed value. The next property revaluation will be effective January 1, 2016.
Budgeted expenditures in the General Fund are $77,144,296, which represents a 1.2%
increase ($880,106) as compared to last year. For the new fiscal year many functional
areas kept to low or minimum growth from the previous year for operations. Funding
for Water and Sewer Projects and Economic Development Incentives decreased by
$30,177 (5.1%) from last year’s appropriation. Education funding overall increased
$885,010. The current expense and special capital outlay requests were increased by
$1,389,620; however, the school debt service decreased $504,610 from last year. The
County continues to participate in joint water and sewer projects with municipalities of
the County.
Business-Type Activities. The budgeted expenditures for the Landfill Fund are
$3,599,101, which represents an 8.9% increase ($294,088) as compared to last year. The
County has also budgeted $236,923 for the Flat Rock/Bannertown Water and Sewer
District, $101,700 for the Dobson Area Water and Sewer Fund, $60,990 for the Elkin
Area Water Fund, and $241,600 for the Interstates Water and Sewer District.
REQUESTS FOR INFORMATION
This financial report is designed to provide a general overview of Surry County’s
finances for those with an interest in the government’s finances. Questions concerning
any of the information provided in this report or requests for additional financial
information should be addressed to the Assistant County Manager for Budget and
Finance, 118 Hamby Road, Suite #333, Dobson, North Carolina 27017. You can also
visit our website www.co.surry.nc.us for more information.
BASIC FINANCIAL STATEMENTS
Exhibit A
STATEMENT OF NET POSITION
JUNE 30, 2013
Primary Government
Governmental
Activities
Assets:
Current assets:
Cash and investments
Taxes receivable, net
Accounts receivable, net
Due from other governments
Notes receivable
Internal balances
Restricted assets:
Total current assets
$
18,105,154
1,626,370
4,645,587
1,155,958
25,848
84,537
Business-Type
Activities
$
Total
Component Unit
Surry County
Tourism and
Development
Authority
1,562,589 $
84,560
138,968
29,826
(84,537)
19,667,743
1,710,930
4,784,555
1,185,784
25,848
-
$
47,571
8,023
-
5,515,374
31,158,828
1,731,406
5,515,374
32,890,234
55,594
Non-current assets:
Notes receivable
Capital assets:
Land and other non-depreciable assets
Other capital assets, net of depreciation
Capital assets, net
209,362
-
209,362
-
8,580,901
83,799,972
92,380,873
1,841,511
15,912,396
17,753,907
10,422,412
99,712,368
110,134,780
-
Total non-current assets:
92,590,235
17,753,907
110,344,142
-
123,749,063
19,485,313
143,234,376
55,594
2,152,493
83,835
213,470
77,335
-
2,229,828
83,835
213,470
4,876
-
7,223,346
47,739,125
57,412,269
475,871
6,273,775
6,826,981
7,699,217
54,012,900
64,239,250
4,876
159,520
159,520
-
159,520
159,520
-
45,246,112
13,635,352
58,881,464
-
5,887,492
1,260,332
5,305,474
65,001
417,367
149,018
6,869,458
8,022
42,696
Total assets
Liabilities:
Accounts payable and accrued liabilities
Accrued interest payable
Advances from grantors
Non-current liabilities:
Due within one year
Due in more than one year
Total liabilities
Deferred Inflows of Resources:
Prepaid taxes
Total deferred inflows of resources
Net Position:
Net investment in capital assets
Restricted for:
Stabilization for State statute
Education
Debt service
General government
Public safety
Register of Deeds
Unrestricted (deficit)
Total net position
5,887,492
1,260,332
5,305,474
65,001
417,367
149,018
7,846,478
$
66,177,274
The accompanying notes are an integral part of the financial statements.
(977,020)
$
12,658,332
$
78,835,606
$
50,718
STATEMENT OF ACTIVITIES
Program Revenues
Expenses
Functions/Programs:
Primary Government:
General government
Public safety
Economic and physical development
Human services
Cultural and recreation
Education
Interest and fees
Total governmental activities
$
Interstates Water and Sewer Fund
Flat Rock Water and Sewer Fund
Dobson Area Water and Sewer Fund
Elkin Area Water and Sewer Fund
Landfill Fund
Total business-type activities
9,024,289
18,059,204
2,478,965
18,844,398
1,008,006
18,520,559
2,189,455
70,124,876
Operating
Grants and
Contributions
Charges for
Services
$
4,476,179
5,239,720
179,748
3,065,354
12,961,001
92,109
364,809
162,457
68,464
2,551,128
3,238,967
$
34,115
180,949
82,114
44,943
2,405,065
2,747,186
Capital
Grants and
Contributions
863,403
614,131
853,562
11,549,920
194,029
14,075,045
$
14,100
111,535
125,635
421,307
421,307
-
Total primary government
$
73,363,843
$
15,708,187
$
14,200,680
$
421,307
Component Unit:
Surry County Tourism and Development Authority
$
58,815
$
-
$
-
$
-
General Revenues:
Ad valorem taxes
Other taxes
Occupancy tax
Investment earnings, unrestricted
Total general revenues, excluding transfers
Transfers
Total general revenues and transfers
Change in net position
Net Position:
Exhibit B
Net (Expense) Revenue and Changes in Net Position
Primary Government
Component Unit
Governmental
Activities
$
Business-Type
Activities
(3,684,707) $
(12,205,353)
(1,445,655)
(4,229,124)
(1,008,006)
(17,905,223)
(2,189,455)
(42,667,523)
(42,667,523)
Surry County
Tourism and
Development
Authority
Total
-
$
(3,684,707)
(12,205,353)
(1,445,655)
(4,229,124)
(1,008,006)
(17,905,223)
(2,189,455)
(42,667,523)
(43,894)
(183,860)
(80,343)
(23,521)
(34,528)
(366,146)
(43,894)
(183,860)
(80,343)
(23,521)
(34,528)
(366,146)
(366,146)
(43,033,669)
$
35,310,493
15,177,406
1,373,206
354,970
52,216,075
41
41
35,310,493
15,177,406
1,373,206
355,011
52,216,116
925
78,661
79,586
935,078
-
-
51,280,997
935,119
52,216,116
79,586
8,613,474
568,973
9,182,447
20,771
57,563,800
12,089,359
69,653,159
29,947
(935,078)
$
(58,815)
66,177,274
$
12,658,332
$
78,835,606
$
50,718
Exhibit C
BALANCE SHEET - GOVERNMENTAL FUNDS
JUNE 30, 2013
Major
Schools
Capital
Project
General
Assets:
Taxes receivable, net
Notes receivable
Due from other funds
Restricted assets:
Total assets
Liabilities, Deferred Inflows of Resources,
and Fund Balances:
Liabilities:
Due to other funds
Advances from grantors
Due to schools
Total liabilities
$
$
16,803,989
1,449,415
4,644,177
235,210
776,747
85,947
Total liabilities, deferred inflows of
resources, and fund balances
$
$
-
$
1,511,058
213,470
332,191
2,056,719
Property taxes receivable
Prepaid taxes
Total deferred inflows of resources
800,144
321,306
-
5,481,508
29,476,993
$
Fund Balances:
Non-spendable:
Notes receivable
Restricted for:
Stabilization by State statute
Restricted, all other
Committed:
General government
Human Services
Assigned
Unassigned
Total fund balances
$
County
Buildings Capital
Project
$
1,121,450
271,078
271,078
$
$
31,135
33,866
65,001
-
Nonmajor
Other
Governmental
Funds
$
$
$
469,886
176,955
1,410
57,905
706,156
38,166
1,410
39,576
Total
Governmental
Funds
$
$
$
18,105,154
1,626,370
4,645,587
235,210
1,155,958
85,947
5,515,374
31,369,600
1,820,302
1,410
213,470
332,191
2,367,373
1,449,415
145,169
1,594,584
-
-
176,957
14,351
191,308
1,626,372
159,520
1,785,892
235,210
-
-
-
235,210
5,506,871
6,185,758
321,306
529,066
65,001
59,315
417,367
5,887,492
7,197,192
5,056,239
2,061,169
6,043,634
736,809
25,825,690
850,372
65,001
(1,410)
475,272
5,056,239
2,061,169
6,043,634
735,399
27,216,335
29,476,993
$
1,121,450
$
65,001
$
706,156
Amounts reported for governmental activities in the Statement of Net Position
are different because:
Capital assets used in governmental activities are not financial resources and,
therefore, are not reported in the funds.
92,380,873
Long-term liabilities, accrued interest and compensated absences are not due and payable in
the current period and, therefore, are not reported in the funds.
(55,046,306)
Deferred inflows of resources in the governmental funds are used to offset accounts
receivable not expected to be available within 90 days of year-end. These
receivables are a component of net position in the Statement of Net Position.
1,626,372
$
Net position of governmental activities
20
66,177,274
Exhibit D
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS
Major
Schools
Capital
Project
General
Revenues:
Ad valorem taxes
Local option sales taxes
Unrestricted intergovernmental revenues
Restricted intergovernmental revenues
Permits and fees
Sales and services
Interest earned on investments
Miscellaneous
Total revenues
$
Expenditures:
General government
Public safety
Human services
Education
Debt service:
Principal repayments
Interest
Total expenditures
Revenues over (under) expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Capital lease obligations issued
Total other financing sources (uses)
$
421,307
100
421,407
$
4,004,289
164,146
347,427
1,894
4,517,756
$
35,310,493
15,177,406
1,373,206
13,690,650
829,352
12,131,649
354,970
805,702
79,673,428
79,955
-
2,867,572
164,146
1,720,683
8,259,259
17,982,699
2,481,556
18,466,330
918,147
17,787,576
6,663,087
2,105,312
69,028,720
802,890
79,955
4,752,401
6,663,087
2,105,312
74,663,966
5,705,414
(381,483)
(79,824)
-
25,825,690
1,231,855
$
850,372
21
(234,645)
36,046
36,046
(381,483)
20,142,461
$
131
131
Total
Governmental
Funds
802,890
5,683,229
Fund Balances:
$
Nonmajor
Other
Governmental
Funds
8,259,259
15,115,127
2,237,455
18,466,330
918,147
15,264,003
(160,336)
138,151
(22,185)
Net change in fund balances
31,306,204
15,177,406
1,373,206
13,105,197
829,352
11,784,222
352,845
805,702
74,734,134
County
Buildings Capital
Project
$
5,009,462
-
36,046
(160,336)
138,151
13,861
(43,778)
(234,645)
5,023,323
108,779
709,917
22,193,012
65,001
$
475,272
$
27,216,335
Exhibit E
RECONCILIATION OF THE STATEMENT OF REVENUES,
EXPENDITURES, AND CHANGES IN FUND BALANCES
TO THE STATEMENT OF ACTIVITIES - GOVERNMENTAL FUNDS
Amounts reported for governmental activities in the Statement of Activities (Exhibit B)
are different due to the following items:
Net change in fund balances - total governmental funds (Exhibit D)
$
5,023,323
Exhibit D reports revenues using a current financial resources basis, which generally means revenue
is recognized when collected or is expected to be collected within 90 days of year-end. Exhibit B reports
revenues when the earning process is complete, regardless of when it is collected. This measurement
difference causes timing of revenue recognition differences for the following revenue types:
Property tax revenues in the Statement of Activities earned in prior periods are reported as revenues
in the governmental funds statement.
(80,745)
Expenses related to compensated absences that do not require current financial resources are not
reported as expenditures in the governmental funds statement.
(891,135)
Expenses related to accrued interest that do not require current financial resources are not
reported as expenditures in the governmental funds statement.
(83,835)
Transfer of capital assets from Enterprise Fund to the General Fund
(810,788)
Capital outlays are reported as expenditures in the governmental funds statement. However, in the
Statement of Activities, capital outlay is not an expense, rather it is an increase in capital assets.
1,967,409
Depreciation expense allocates the costs of capital assets over their useful lives. It is reported as an
expenditure in the governmental funds statement.
(2,848,807)
The issuance of long-term debt provides current financial resources to governmental funds. However,
in the Statement of Activities, these transactions are not a revenue, rather they are an increase in liabilities.
(138,151)
Capital assets disposed of, but not recognized, on the modified accrual basis of accounting
(186,576)
Principal repayments are reported as expenditures in the governmental funds statement.
However, in the Statement of Activities, these transactions are not an expense, rather
they are a decrease in liabilities.
6,662,779
$
Change in net position of governmental activities (Exhibit B)
22
8,613,474
Exhibit F
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Budgeted Amounts
Original
Revenues:
Ad valorem taxes
Unrestricted intergovernmental revenues
Restricted intergovernmental revenues
Permits and fees
Sales and services
Investment earnings
Miscellaneous
Total revenues
$
Expenditures:
General government
Public safety
Human services
Education
Debt service:
Principal retirement
Interest and fees
Total expenditures
Final
29,783,287
11,129,000
1,211,246
11,712,989
590,000
13,194,026
138,492
752,018
68,511,058
$
Actual
30,089,480
11,129,000
1,211,246
12,804,182
595,000
13,004,514
138,492
878,436
69,850,350
$
31,306,204
12,603,257
1,373,206
13,105,197
829,352
11,784,222
297,450
805,702
72,104,590
Variance with
Final Budget
Over/Under
$
1,216,724
1,474,257
161,960
301,015
234,352
(1,220,292)
158,958
(72,734)
2,254,240
12,510,591
14,683,486
20,568,665
2,766,420
926,500
14,187,880
12,879,073
15,365,992
20,732,919
3,001,053
960,829
14,227,880
8,057,254
15,115,127
18,466,330
2,237,455
918,147
14,190,780
4,821,819
250,865
2,266,589
763,598
42,682
37,100
7,179,776
2,105,618
74,928,936
7,225,827
2,105,618
76,499,191
6,663,087
2,105,312
67,753,492
562,740
306
8,745,699
Revenues over (under) expenditures
(6,417,878)
(6,648,841)
4,351,098
10,999,939
Transfers in
Transfers out
Capital lease obligations issued
Appropriated fund balance
Total other financing sources (uses)
1,500,000
(521,989)
5,439,867
6,417,878
1,500,000
(722,035)
138,152
5,732,724
6,648,841
1,500,000
(360,336)
138,151
1,277,815
361,699
(1)
(5,732,724)
(5,371,026)
Net change in fund balance
$
-
$
-
5,628,913
Fund Balance:
19,288,986
$
23
24,917,899
$
5,628,913
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
JUNE 30, 2013
Major
Landfill
Fund
Assets:
Current assets:
Cash and cash equivalents
Taxes receivable
Total current assets
$
1,113,506
84,560
95,163
1,293,229
Flat Rock/
Bannertown
Water and
Sewer District
$
76,099
27,322
7,303
110,724
Capital assets:
Land and other non-depreciable assets
Other capital assets, net of depreciation
Capital assets, net
1,500,951
5,163,543
6,664,494
20,000
5,751,077
5,771,077
Total assets
7,957,723
5,881,801
19,517
12,233
429,638
461,388
66,243
34,000
100,243
Non-current liabilities:
Accrued landfill closure and post-closure care cost
Long-term obligations
Total non-current liabilities
2,504,372
1,376,403
3,880,775
2,393,000
2,393,000
Total liabilities
4,342,163
2,493,243
4,972,939
(1,357,379)
3,344,077
44,481
Liabilities and Net Position:
Liabilities:
Current liabilities:
Due to other funds
Current portion of accrued landfill closure and post-closure care cost
Current portion of long-term obligations
Total current liabilities
Net Position:
Unrestricted
$
Total net position
3,615,560
$
3,388,558
Exhibit G
Major
Interstates
Water and
Sewer District
$
$
Nonmajor
Dobson Area
Water and
Sewer Fund
372,984
2,659
2,395
378,038
$
Elkin Area
Water and
Sewer Fund
2,225
15,979
18,204
$
Total
11,599
4,149
15,748
$
1,562,589
84,560
138,968
29,826
1,815,943
320,560
1,787,169
2,107,729
2,409,954
2,409,954
800,653
800,653
1,841,511
15,912,396
17,753,907
2,485,767
2,428,158
816,401
19,569,850
41,565
595
42,160
16,253
1,951
18,204
15,748
15,748
77,335
84,537
12,233
463,638
637,743
-
-
-
2,504,372
3,769,403
6,273,775
42,160
18,204
15,748
6,911,518
2,107,729
335,878
2,409,954
-
800,653
-
13,635,352
(977,020)
2,443,607
$
2,409,954
$
800,653
$
12,658,332
25
STATEMENT OF REVENUES, EXPENSES, AND CHANGES
IN FUND NET POSITION - PROPRIETARY FUNDS
Major
Landfill
Fund
Operating Revenues:
Local contribution
Landfill fees
White goods and scrap tire
Other operating revenues
Total operating revenues
$
Operating Expenses:
Landfill recycling
Sanitation
Water and sewer
Depreciation
Landfill closure and post-closure costs
Total operating expenses
1,064,933
1,189,598
111,535
150,534
2,516,600
Flat Rock/
Bannertown
Water and
Sewer District
$
769,100
1,205,508
545,558
(34,719)
2,485,447
180,949
180,949
95,985
164,316
260,301
31,153
(79,352)
Non-Operating Revenues (Expenses):
Investment earnings
Interest and fees paid
Total non-operating revenues (expenses)
(65,681)
(65,681)
41
(104,508)
(104,467)
Income (loss) before
contributions and transfers
(34,528)
(183,819)
Transfer from General Fund
Capital contributions
20,000
-
65,000
-
(14,528)
(118,819)
Operating income (loss)
Net Position:
3,507,377
3,630,088
$
3,615,560
$
3,388,558
Exhibit H
Major
Interstates
Water and
Sewer District
$
Dobson Area
Water and
Sewer Fund
34,115
14,100
48,215
$
Elkin Area
Water and
Sewer Fund
82,114
82,114
$
Total
44,943
44,943
$
1,407,054
14,100
1,189,598
111,535
150,534
2,872,821
44,557
47,552
92,109
98,427
64,030
162,457
58,329
10,135
68,464
769,100
1,205,508
297,298
831,591
(34,719)
3,068,778
(43,894)
(80,343)
(23,521)
(195,957)
-
-
-
41
(170,189)
(170,148)
(43,894)
(80,343)
(23,521)
(366,105)
10,442
-
16,313
-
12,535
810,788
124,290
810,788
(33,452)
(64,030)
799,802
568,973
851
12,089,359
2,473,984
2,477,059
$
Nonmajor
2,443,607
$
2,409,954
$
800,653
$
12,658,332
27
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
Major
Flat Rock/
Bannertown
Water and
Sewer District
Landfill
Fund
Cash Flows from Operating Activities:
Cash received from customers
Cash paid for goods and services
Cash paid to employees for services
Net cash provided (used) by operating activities
$
Cash Flows from Non-Capital Financing Activities:
Interfund transfer in (out)
Net cash provided (used) by non-capital financing activities
Cash Flows from Capital and Related Financing Activities:
Acquisition and construction of capital assets
Principal paid on bonds and notes payable
Interest and fees paid on bonds
Net cash provided (used) by capital and related financing activities
Cash Flows from Investing Activities:
Interest on investments
2,537,425 $
(2,026,141)
16,825
528,109
158,001
(95,985)
62,016
20,000
20,000
65,000
65,000
(99,388)
(389,305)
(65,681)
(554,374)
(32,000)
(104,508)
(136,508)
41
-
Net increase (decrease) in cash and cash equivalents
(6,265)
Cash and Cash Equivalents:
(9,451)
1,119,771
Reconciliation of Operating Income (Loss) to Net
Cash Provided (Used) by Operating Activities:
Operating income (loss)
Adjustments to reconcile operating income (loss) to
net cash provided (used) by operating activities:
Depreciation
Gain on sale of assets
Change in assets and liabilities:
(Increase) decrease in accounts receivable
Increase (decrease) in accounts payable
Increase (decrease) in compensated absences payable
Increase (decrease) in other post-employment benefits payable
Increase (decrease) in landfill post-closure liability
85,550
$
1,113,506
$
76,099
$
31,153
$
(79,352)
545,558
1,500
164,316
-
19,325
(36,252)
(1,090)
17,915
(50,000)
298
(23,246)
-
Net cash provided (used) by operating activities
$
528,109
$
62,016
Non-Cash Transactions:
Transfer of capital assets between funds
$
-
$
-
Exhibit I
Major
Interstates
Water and
Sewer District
$
Nonmajor
Dobson Area
Water and
Sewer Fund
50,944 $
(5,412)
45,532
10,442
10,442
(64,190)
(64,190)
(8,216)
381,200
$
372,984
$
$
(43,894) $
Elkin Area
Water and
Sewer Fund
77,179 $
(93,492)
(16,313)
Total
38,917 $
(51,452)
(12,535)
16,313
16,313
12,535
12,535
-
-
-
-
-
-
-
-
-
$
(80,343) $
-
2,862,466
(2,272,482)
16,825
606,809
124,290
124,290
(163,578)
(421,305)
(170,189)
(755,072)
41
(23,932)
1,586,521
$
(23,521) $
1,562,589
(195,957)
47,552
-
64,030
-
10,135
-
831,591
1,500
2,729
39,145
-
(4,935)
4,935
-
(10,175)
11,026
-
7,242
(4,392)
(1,090)
17,915
(50,000)
(12,535) $
606,809
$
45,532
$
$
-
$
(16,313) $
-
$
810,788
29
Exhibit J
STATEMENT OF FIDUCIARY NET POSITION
FIDUCIARY FUNDS
JUNE 30, 2013
Agency
Funds
Assets:
Accounts receivable
Total assets
$
$
Liabilities:
Accounts payable
Intergovernmental payable
Total liabilities
$
$
30
191,692
10,759
202,451
132,460
69,991
202,451
NOTES TO THE FINANCIAL STATEMENTS
1. Summary of Significant Accounting Policies
The accounting policies of Surry County (the "County") conform to generally accepted accounting
principles as applicable to governments. The following is a summary of the more significant
accounting policies.
A. Reporting Entity
The County, which is governed by a five-member Board of Commissioners, is one of the 100
counties established in North Carolina under North Carolina General Statute 153A-10. Generally
accepted accounting principles require the entity to include component units in its financial
statements if certain criteria are met. The County has one component unit which has no financial
transactions or account balances. Therefore, it does not appear in the combined financial
statements. The County has two component units which are reported as enterprise funds in the
County’s financial statements. The County has one component unit that is presented as a
discretely presented component unit. This component unit is reported jointly in a separate column
in the County’s financial statements in order to emphasize that they are legally separate from the
County.
Surry County Industrial Facility and Pollution Control Financing Authority
The Surry County Industrial Facility and Pollution Control Financing Authority (the “Authority”)
exists to issue and service revenue bond debt of private businesses for economic development
purposes. The Authority is governed by a seven-member Board of Commissioners, all of whom
are appointed by the County Commissioners. The County can remove any commissioner of the
Authority with or without cause. The Authority has no financial transactions or account balances;
therefore, it is not presented in the combined financial statements. The Authority does not issue
separate financial statements.
The Interstates Water and Sewer District and the Flat Rock/Bannertown
Water and Sewer District
The Interstates Water and Sewer District and the Flat Rock/Bannertown Water and Sewer District
(the “Districts”) exist to provide and maintain water and sewer systems for the County residents
within each district. Under State law [G.S. 162A-89], the County’s Board of Commissioners also
serves as the governing board for the Districts. The Flat Rock/Bannertown Water and Sewer
District and the Interstates Water and Sewer District are reported as enterprise funds in the
County’s financial statements. The Interstates Water and Sewer District does not issue separate
financial statements. Complete financial statements for the Flat Rock/Bannertown Water and
Sewer District may be obtained at the finance office of the County: 118 Hamby Road, Suite 333,
Dobson, North Carolina 27017.
The Surry County Tourism and Development Authority
The Surry County Tourism and Development Authority is a special taxing district made up of the
unincorporated areas of the County. A six percent room occupancy tax was implemented
effective September 1, 2009 to promote travel and tourism related activities within the district.
The Surry Tourism and Development Authority issues separate financial statements. Complete
financial statements for the Surry County Tourism and Development Authority may be obtained
at the finance office of the County: 118 Hamby Road, Suite 333, Dobson, North Carolina 27017.
B. Basis of Presentation
Government-Wide and Fund Financial Statements
The Statement of Net Position and the Statement of Activities report information on all of the
non-fiduciary activities of the primary government. The effect of interfund activity has been
removed from these statements in all material areas. Governmental activities, which normally are
supported by taxes and intergovernmental revenues, are reported separately from business-type
activities, which rely to a significant extent on fees and charges for support.
The Statement of Activities demonstrates the degree to which the direct expenses of a given
function or segment is offset by program revenues. Direct expenses are those that are clearly
identifiable with a specific function or segment. Program revenues include (1) charges to
customers or applicants who purchase, use, or directly benefit from goods, services, or privileges
provided by a given function or segment and (2) grants and contributions that are restricted to
meeting the operational or capital requirements of a particular function or segment. Taxes and
other items not properly included among program revenues are reported instead as general
revenues.
Separate financial statements are provided for governmental funds, proprietary funds, and
fiduciary funds. The fiduciary funds are excluded from the government-wide financial
statements. Major individual governmental funds and major individual enterprise funds are
reported as separate columns in the fund financial statements. All remaining governmental and
enterprise funds are aggregated and reported as nonmajor funds.
Proprietary fund operating revenues, such as charges for services, result from exchange
transactions associated with the principal activity of the fund. Exchange transactions are those in
which each party receives and gives up essentially equal values. Non-operating revenues, such as
subsidies and investment earnings, result from non-exchange transactions or ancillary activities.
The County reports the following major governmental funds:
General Fund. The General Fund is the general operating fund of the County. It is used to
account for all financial resources except those required to be accounted for in another fund. The
County maintains separate Economic Development, Debt Service, Employee Benefits, Home
Program, Cooperative Extension, Sheriff’s Special Accounts, Workers’ Compensation, SheriffNarcotics, Public Assistance, and Register of Deeds Automation Funds for accounting purposes.
These funds have been consolidated into the General Fund for financial reporting purposes. The
Revaluation Fund is a legally budgeted fund under North Carolina General Statutes; however, for
statement presentation in accordance with GASB Statement No. 54, it is presented in the General
Fund. The County also maintains a separate Capital Reserve Fund (Schools Capital Outlay Fund)
to account for 30% and 60%, respectively, of the proceeds of the Chapter 40 and Chapter 42
half-cent local option sales taxes; however, for statement presentation in accordance with GASB
Statement No. 54 it is presented in the General Fund.
Capital Project Funds. Capital project funds are used to account for financial resources to be
used for the acquisition or construction of major capital facilities (other than those financed by
proprietary funds or trust funds). The County maintains two major capital project funds within
the governmental fund types:
Schools Capital Project Fund – accounts for local funds and financing proceeds used to fund
school construction projects.
County Buildings Capital Project Fund – accounts for funds used for the construction of
County buildings.
The County reports the following nonmajor governmental funds:
Special Revenue Funds. Special revenue funds are used to account for specific revenue sources
(other than special assessments, expendable trusts, or major capital projects) that are legally
restricted to expenditures for specified purposes. The County maintains four special revenue
funds: the Fire Districts Fund, the School Districts Fund, the Emergency Telephone 911 Fund,
and the Grants Project Fund.
The County reports the following major enterprise funds:
Enterprise Funds. Enterprise funds are used to account for operations (a) that are financed and
operated in a manner similar to private business enterprises, where the intent of the governing
body is that the costs (expenses, including depreciation) of providing goods or services to the
general public on a continuing basis are financed or recovered primarily through user charges; or
(b) where the governing body has decided that periodic determination of revenues earned,
expenses incurred, and/or net income is appropriate for capital maintenance, public policy,
management control, accountability, or other purposes. Surry County has four major enterprise
funds: the Landfill Fund, the Flat Rock/Bannertown Water and Sewer District, the Interstates
Water and Sewer District, and the Dobson Area Water and Sewer Fund. The Landfill Reserve
Fund is a fund established by the County to accumulate the funds necessary for any expenses
related to land acquisition, construction, equipping, and closing a landfill.
The Interstates Water and Sewer District Fund accounts for water and sewer activities. A capital
project fund has been established for the Interstates Water and Sewer District to account for the
construction of the first water lines in the District. This fund is consolidated with the Interstates
Water and Sewer District (the operating fund) for financial reporting purposes.
The County reports the following nonmajor enterprise fund:
The Elkin Area Water and Sewer Fund accounts for water and sewer activities in the Gentry Road
area of Elkin.
The County reports the following fund types:
Fiduciary Funds account for the assets held by the County in a trustee capacity or as an agent for
individuals, private organizations, other governmental units, and/or other funds. Fiduciary funds
include the following fund type:
Agency Funds. Agency funds are custodial in nature and do not involve measurement of results
of operations. Agency funds are used to account for assets the County holds on behalf of others.
The County maintains six agency funds: the Social Services Trust Fund that accounts for funds
held by the County for the subsistence needs of specific social services clients; the Jail Trust Fund
that accounts for monies held by the County for inmates; the Motor Vehicle Tax Fund that
accounts for registered motor vehicle property taxes that are billed and collected by the County
for various municipalities and special districts within the County; the State Solid Waste Disposal
Tax Fund that accounts for the $2.00 per ton tax on landfill waste; the Regional Tourism Fund,
which accounts for a partnership with surrounding counties in North Carolina and Virginia to
promote tourism; and a Miscellaneous Agency Funds group. The following agency funds are
accounted for in the Miscellaneous Agency Funds group; the Fines and Forfeitures Fund that
accounts for the collection and payment of fines and forfeitures to three Boards of Education in
the County; the CBA Money and Elderly or Handicap Transportation Assistance Funds that
account for the collection and payment of State financial grant assistance to various subrecipients; the Floodplain Mapping accounts for collection and remittance for fees for Floodplain
mapping to N.C. Department of Crime Control and Public Safety; the Mental Health – ABC
Fund, which accounts for funds paid by Municipal ABC Boards in Surry County on the number
of bottles of spirituous liquor sold during the month by all stores; the NC DOR-HB-1779 Fund
accounts for the additional interest on delinquent motor vehicle property tax payments to be
transferred to NC State Treasurer; the P.A.R.T Transportation Taxes Fund accounts for vehicle
rental taxes collected for Piedmont Authority of Regional Transportation; the Dobson Zoning
Fund that accounts for collection and remittance of zoning permits for the Town of Dobson; the
State Treasurer General Fund, which accounts for fees collected by the Register of Deeds for
filing a Deed of Trust; the Department of Cultural Resources Fund, which accounts for fees
collected by the Register of Deeds, which are used to offset the cost of the Archives and Records
Management Program; the Excise Tax of Deeds Fund, which accounts for the tax rate of one
dollar on each five hundred dollars of real property conveyed to another person remitted to the
Department of Revenue and distributed per G.S. 105-228.3; the Domestic Violence Center Fund,
which accounts for thirty dollars of each marriage license issued forwarded to the Department of
Administration and credited to the Domestic Violence Center Fund established under G.S. 50B-9;
the Contractor Permits Inspections Fund, which accounts for a ten dollar fee collected on building
permits paid to the NC Licensing Board for the Homeowners Recovery Fund per G.S. 87-15.6b;
the State Fees Concealed Handgun Permits Fee Fund, which accounts for the State’s portion of
permit fees paid for concealed weapon permits under G.S.14-415.19; the Cell Tower Lease Town
of Pilot Mountain Fund, which accounts for the Town of Pilot Mountain's portion of monthly rent
paid for cell tower space; and the UHS-Pruitt Fund to account for the home health division
purchase.
C. Measurement Focus and Basis of Accounting
In accordance with North Carolina General Statutes, all funds of the County are maintained
during the year using the modified accrual basis of accounting.
Government-Wide, Proprietary, and Fiduciary Fund Financial Statements.
The
government-wide, proprietary, and fiduciary fund financial statements are reported using the
economic resources measurement focus, except for the agency funds which have no measurement
focus. The government-wide, proprietary, and fiduciary fund financial statements are reported
using the accrual basis of accounting. Revenues are recorded when earned, and expenses are
recorded at the time liabilities are incurred, regardless of when the related cash flows take place.
Non-exchange transactions, in which the County gives (or receives) value without directly giving
(or receiving) equal value in exchange, include property taxes, grants, entitlements, and
donations. On an accrual basis, revenue from property taxes is recognized in the fiscal year for
which the taxes are levied. Revenue from grants, entitlements, and donations is recognized in the
fiscal year in which all eligibility requirements have been satisfied.
Amounts reported as program revenues include 1) charges to customers or applicants for goods,
services, or privileges provided; 2) operating grants and contributions; and 3) capital grants and
contributions, including special assessments. Internally-dedicated resources are reported as
general revenues rather than as program revenues. Likewise, general revenues include all taxes.
Proprietary funds distinguish operating revenues and expenses from non-operating items.
Operating revenues and expenses generally result from providing services and producing and
delivering goods in connection with a proprietary fund’s principal ongoing operations. The
principal operating revenues of the County enterprise funds are charges to customers for sales and
services. The County also recognizes as operating revenue the portion of tap fees intended to
recover the cost of connecting new customers to the system. Operating expenses for enterprise
funds include the cost of sales and services, administrative expenses, and depreciation on capital
assets. All revenues and expenses not meeting this definition are reported as non-operating
revenues and expenses.
Governmental Fund Financial Statements. Governmental funds are reported using the current
financial resources measurement focus and the modified accrual basis of accounting. Under this
method, revenues are recognized when measurable and available. Expenditures are recorded
when the related fund liability is incurred, except for principal and interest on long-term debt,
claims and judgments, and compensated absences, which are recognized as expenditures to the
extent they have matured. Long-term debt issued and acquisitions under capital leases are
reported as other financing sources. General capital asset acquisitions are reported as
expenditures in governmental funds.
The County considers all revenues available if they are collected within 90 days after year-end,
except for property taxes. Ad valorem property taxes are not accrued as revenue because the
amount is not susceptible to accrual. At June 30, taxes receivable are materially past due and are
not considered to be an available resource to finance the operations of the current year. Also, as
of January 1, 1993, State law altered the procedures for the assessment and collection of property
taxes on registered motor vehicles in North Carolina. Effective with this change in the law, Surry
County is responsible for billing and collecting the property taxes on all registered motor vehicles
on behalf of all municipalities and special tax districts in the County. For registered motor
vehicles, property taxes are due the first day of the fourth month after the vehicles are registered.
The billed taxes are applicable to the fiscal year in which they become due. Therefore, taxes for
vehicles registered from March 2012 through February 2013 apply to the fiscal year ended June
30, 2013. Uncollected taxes which were billed during this period are shown as a receivable on
these financial statements and are offset by deferred inflows of resources.
Sales taxes collected and held by the State at year-end on behalf of the County are recognized as
revenue. Intergovernmental revenues and sales and services are not susceptible to accrual
because generally they are not measurable until received in cash. Expenditure-driven grants are
recognized as revenue when the qualifying expenditures have been incurred and all other grant
requirements have been satisfied.
Under the terms of grant agreements, the County funds certain programs by a combination of
specific cost-reimbursement grants, categorical block grants, and general revenues. Thus, when
program expenses are incurred, there is both restricted and unrestricted net position available to
finance the program. It is the County’s policy to first apply cost-reimbursement grant resources
to such programs, followed by categorical block grants, then by general revenues.
When both restricted and unrestricted resources are available for use, it is the County’s policy to
use restricted resources first, then unrestricted resources as they are needed.
D. Budgetary Data
The County’s budgets are adopted as required by the North Carolina General Statutes. An annual
budget ordinance is adopted for the General Fund, special revenue funds, and enterprise funds.
All annual appropriations lapse at fiscal year-end. Project ordinances are adopted for the capital
project funds. All budgets are prepared using the modified accrual basis of accounting, which is
consistent with the accounting system used to record transactions.
Expenditures may not legally exceed appropriations at the departmental level for the General
Fund, special revenue funds, and enterprise funds and at the object level for the capital project
funds. The County Manager is authorized to adjust approved budget appropriations within the
same fund, and such action is reported to the Board at a subsequent meeting. During the year,
several amendments to the original budget became necessary. The budget ordinance must be
adopted by July 1 of the fiscal year or the governing board must adopt an interim budget that
covers that time until the annual ordinance can be adopted.
E. Estimates
The preparation of financial statements in conformity with generally accepted accounting
principles requires management to make estimates and assumptions that affect certain reported
amounts and disclosures. Accordingly, actual results could differ from those estimates.
Significant areas where estimates are made are allowance for doubtful accounts and depreciation
lives.
F. Assets, Liabilities, Deferred Inflows and Outflows, and Fund Equity
Deposits and Investments
All of the County’s deposits are made in Board-designated official depositories and are secured as
required by G.S. 159-31. The County may designate, as an official depository, any bank or
savings association whose principal office is located in North Carolina. Also, the County may
establish time deposit accounts such as NOW and SuperNOW accounts, money market accounts,
and certificates of deposit.
State law [G.S. 159-30(c)] authorizes the County to invest in obligations of the United States or
obligations fully guaranteed both as to principal and interest by the United States; obligations of
the State of North Carolina; bonds and notes of any North Carolina local government or public
authority; obligations of certain non-guaranteed federal agencies; certain high quality issues of
commercial paper and bankers' acceptances; and the North Carolina Capital Management Trust
(NCCMT), an SEC registered (2a-7) money market mutual fund. The County’s investments with
a maturity of more than one year at acquisition and non-money market investments are carried at
fair value as determined by quoted market prices. The securities of the NCCMT Cash Portfolio
are valued at fair value, which is the NCCMT’s share price. The NCCMT Term Portfolio’s
securities are valued at fair value. Money market investments that have a remaining maturity at
the time of purchase of one year or less and non-participating interest earnings and investment
contracts are reported at amortized cost.
Cash and Cash Equivalents
The County pools money from several funds to facilitate disbursement and investment and to
maximize investment income. Therefore, all cash and investments are essentially demand
deposits and are considered cash and cash equivalents.
Restricted Assets
The restricted assets of $33,866 in the County Capital Project Fund represent the balance of
proceeds available under an installment purchase contract to finance County building upgrades.
The total restricted assets of $5,481,508 in the General Fund represent the balance in a sinking
fund required by a financing contract to construct schools of $5,304,984, and money in the
Revaluation Fund of $176,524 is restricted per North Carolina General Statute 153A-150.
Ad Valorem Taxes Receivable
In accordance with State laws [G.S. 105-347 and G.S. 159-13(a)], the County levies ad valorem
taxes on property other than motor vehicles on July 1, the beginning of the fiscal year. The taxes
are due on September 1 (lien date); however, penalties and interest do not accrue until the
following January 6. These taxes are based on the assessed values as of January 1, 2012. As
allowed by State law, the County has established discounts that apply to taxes which are paid
prior to the due date. In the County’s General Fund, ad valorem tax revenues are reported net of
such discounts.
Allowances for Doubtful Accounts
All receivables that are historically uncollectible accounts are shown net of an allowance for
doubtful accounts. This amount is estimated by analyzing the percentage of receivables that were
written off in prior years.
Capital Assets
Capital assets are recorded at original cost or estimated historical cost. Donated assets are
recorded at their estimated fair value at the date of donation. Minimum capitalization cost is
$5,000. The cost of normal maintenance and repairs that do not add to the value of the asset or
materially extend assets’ lives are not capitalized.
The County holds title to certain properties of the Boards of Education of Surry County, Elkin
and Mount Airy, which have been included in capital assets. The properties have been deeded to
the County to permit installment purchase financing of acquisition and construction costs.
Agreements between the County and the Boards of Education give the Boards of Education full
use of the facilities, full responsibility for maintenance of the facilities, and provide that the
County will convey title to the property back to the Boards of Education once all restrictions of
the financing agreements and all sales tax reimbursement requirements have been met. The
properties are not reflected as capital assets in the financial statements of the Boards of
Education.
Capital assets in the enterprise funds of the County are recorded at original cost at the time of
acquisition. Capital assets donated to the enterprise fund operations are recorded at the estimated
fair market value at the date of donation. Depreciation is provided over the estimated useful lives
of the assets using the straight-line method.
Capital assets are depreciated on a straight-line basis over the following useful lives to the cost of
the assets:
Years
Equipment
5
Vehicles
5
Other improvements
10
40
Buildings
20-50
Deferred Outflows and Inflows of Resources
In addition to assets, the Statement of Financial Position will sometimes report a separate section
for deferred outflow of resources. This separate financial statement element, Deferred Outflows
of Resources, represents a consumption of net position that applies to a future period and so will
not be recognized as an expense or expenditure until then.
In addition to liabilities, the Statement of Financial Position can also report a separate section for
deferred inflows of resources. This separate financial statement element, Deferred Inflows of
Resources, represents an acquisition of net position that applies to a future period and so will not
be recognized as revenue until then. The County has two items that meet the criterion for this
category - prepaid taxes and property taxes receivable.
Long-Term Obligations
In the government-wide financial statements and in the proprietary fund types in the fund
financial statements, long-term debt and other long-term obligations are reported as liabilities in
the applicable governmental activities, business-type activities, or the proprietary fund Statement
of Net Position.
In the fund financial statements for governmental fund types, the face amount of debt issued is
reported as an other financing source.
Net Position/Fund Balances
Net Position
Net position in government-wide and proprietary fund financial statements are classified as net
investment in capital assets, restricted and unrestricted. Restricted net position represent
constraints on resources that are either externally imposed by creditors, grantors, contributors,
laws or regulations of other governments, or imposed by law through State statutes.
Fund Balances
In the governmental fund financial statements, fund balance is composed of five classifications
designed to disclose the hierarchy of constraints placed on how fund balance can be spent.
The governmental fund types classify fund balances as follows:
Non-Spendable Fund Balance
This classification includes amounts that cannot be spent because they are either (a) not in
spendable form or (b) legally or contractually required to be maintained intact.
Notes Receivable – portion of fund balance that is not an available resource because it represents
the year-end balance of notes receivable that are not expendable available resources.
Restricted Fund Balance
This classification includes amounts that are restricted to specific purposes externally imposed by
creditors or imposed by law.
Stabilization for State Statute – portion of fund balance that is not an available resource for
appropriation in accordance with State law [G.S. 159-8(a)].
Restricted for Register of Deeds – portion of fund balance restricted by State statute for
automation enhancement (software) improvements.
Restricted for General Government – portion of fund balance restricted by revenue source to be
used to support general government activities.
Restricted for Education – portion of fund balance restricted by revenue source to be used to
support future public education expenditures.
Restricted for Debt Service – portion of fund balance restricted by revenue source to be used to
support future debt service expenditures.
Restricted for Public Safety – portion of fund balance restricted by revenue source for public
safety related activities.
General
Fund
Purpose
Restricted, all other:
Register of Deeds
General Government
Education
Debt Service
Public Safety
Total
$
$
149,018 $
731,266
5,305,474
6,185,758 $
School
Capital
Project
Fund
County
Building
Capital
Project Fund
- $
529,066
529,066 $
Other
Governmental
Funds
- $
65,001
65,001 $
- $
417,367
417,367 $
Total
149,018
65,001
1,260,332
5,305,474
417,367
7,197,192
Committed Fund Balance
This classification includes amounts that can be used only for the specific purposes determined by
a formal action of the government's highest level of decision-making authority. The Board of
Commissioners is the highest level of decision-making authority for the government that can, by
adoption of an ordinance prior to the end of the fiscal year, commit fund balance. Once adopted,
the limitation imposed by the ordinance remains in place until a similar action is taken (the
adoption of another ordinance) to remove or revise the limitation.
Committed for General Government – portion of fund balance that can only be used for tax
revaluation $176,524, self insurance $4,131,250, and workers compensation insurance, $748,465.
Committed for Human Services – portion of fund balance that can only be used for home health
related expenditures.
General
Fund
Purpose
Committed:
General government
Human services
Total
$
$
5,056,239
2,061,169
7,117,408
Assigned Fund Balance
Assigned fund balance is the portion of fund balance that Surry County intends to use for specific
purposes. The County's governing body has the authority to assign fund balance. The Manager
and Finance Officer, as granted in the officially adopted budget ordinance, have been granted
limited authority to assign fund balance.
Subsequent Year's Expenditures – portion of fund balance that is appropriated in the next year's
budget that is not already classified in restricted of committed. The governing body approves the
appropriation; however, the budget ordinance authorizes the Manager and Finance Officer to
make certain modifications without requiring Board approval.
Assigned fund balance at June 30, 2013 is as follows:
General
Fund
Purpose
Subsequent year's expenditures
$
6,043,634
Unassigned Fund Balance
Unassigned fund balance represents the portion of fund balance that has not been assigned to
another fund or is not restricted, committed, or assigned to specific purposes within the General
Fund.
Surry County has a revenue spending policy that provides guidance for programs with multiple
revenue sources. The Finance Officer will use resources in the following order: bond/debt
proceeds, federal funds, state funds, local non-County funds, and County funds. For purposes of
fund balance classification, expenditures are to be spent from restricted fund balance first,
followed in-order by committed fund balance, assigned fund balance and, lastly, unassigned fund
balance. The Finance Officer has the authority to deviate from this policy if it is in the best
interest of the County or when required by grant or other contractual agreements.
The County has not officially adopted a fund balance policy. The following schedule provides
management and citizens with information on the portion of General Fund balance that is
available for appropriation.
Total fund balance - General Fund
Less:
Notes receivable
Stabilization for State statute
Total available balance
$ 25,825,690
(235,210)
(5,506,871)
$ 20,083,609
Reconciliation of the Statement of Revenues, Expenditures, and Changes In Fund Balance Budget and Actual - General Fund to the Statement of Revenues, Expenditures, and
Changes in Fund Balance - Governmental Funds
A legally budgeted tax Revaluation Fund and School Capital Outlay Fund are consolidated into
the General Fund for reporting purposes on the Statement of Revenues, Expenditures, and
Changes in Fund Balances - Governmental Funds (Exhibit D). Fund balance for the General
Fund is reconciled as follows:
Fund balance, ending (Exhibit F)
Schools Capital Outlay Fund:
Revenues:
Interest earned on investments
Expenditures:
Education
Transfers out - General Fund
Fund balance, beginning
Revaluation Fund:
Expenditures:
General Government
Transfers in - General Fund
Fund balance, beginning
Fund balance, ending (Exhibit D)
$ 24,917,899
2,574,149
55,395
(1,073,223)
(1,500,000)
674,946
(202,005)
200,000
178,529
$ 25,825,690
G. Revenues, Expenditures, and Expenses
Compensated Absences
The vacation policy of the County provides for the accumulation of up to thirty (30) days earned
vacation leave with such leave being fully vested when earned. All vacation pay is accrued when
earned in the government-wide and proprietary fund financial statements.
The County's sick leave policy provides for an unlimited accumulation of earned sick leave. Sick
leave does not vest, but any unused sick leave accumulated at the time of retirement may be used
in the determination of length of service for retirement benefit purposes. Since the County has no
obligation for the accumulated sick leave until it is actually taken, no accrual for sick leave has
been made.
2. Deposits and Investments
A. Deposits
All of the County's deposits are either insured or collateralized using one of two methods. Under
the Dedicated Method, all deposits exceeding the federal depository insurance coverage level are
collateralized with securities held by the County's agent in the County’s name. Under the Pooling
Method, which is a collateral pool, all uninsured deposits are collateralized with securities held by
the State Treasurer's agent in the name of the State Treasurer. Since the State Treasurer is acting
in a fiduciary capacity for the County, these deposits are considered to be held by the County’s
agent in the entity’s name. The amount of the pledged collateral is based on an approved
averaging method for non-interest bearing deposits and the actual current balance for interestbearing deposits. Depositories using the Pooling Method report to the State Treasurer the
adequacy of their pooled collateral covering uninsured deposits. The State Treasurer does not
confirm this information with the County or with the escrow agent. Because of the inability to
measure the exact amount of collateral pledged for the County under the Pooling Method, the
potential exists for undercollaterization, and this risk may increase in periods of high cash flows.
However, the State Treasurer of North Carolina enforces strict standards of financial stability for
each depository that collateralizes public deposits under the Pooling Method. The County does
not have policies regarding custodial credit risk for deposits, but relies on the State Treasurer to
enforce standards of minimum capitalization for all Pooling Method financial institutions and to
monitor them for compliance. The County complies with the provisions of G.S. 159-31 when
designating official depositories and verifying that deposits are properly secured.
At June 30, 2013, the County's deposits had a carrying amount of $18,107,719 and a bank
balance of $20,433,560. Of the bank balance, $580,311 was covered by federal depository
insurance, and $19,853,249 was covered by collateral held under the Pooling Method. Cash on
hand was $3,880.
B. Investments
At June 30, 2013, the County had the following investments and maturities:
Fair Value
Investment Type
$
$
Cash portfolio
Total investments
Less Than
6 Months
6-12
Months
1-5 Years
N/A
N/A
N/A
7,263,210
7,263,210 $
- $
- $
-
Interest Rate Risk - As a means of limiting its exposure to fair value losses arising from rising
interest rates, the County’s investment policy limits at least half of the County’s investment
portfolio to maturities of less than 12 months. Also, the County’s investment policy requires
purchases of securities to be laddered with staggered maturity dates and limits all securities to a
final maturity of no more than five years.
Credit Risk - State law limits investments in commercial paper to the top rating issued by
nationally recognized statistical rating organizations (NRSRO's); however, the County has no
formal policy on managing credit risk. The County’s investments in the N.C. Capital
Management Trust Cash Portfolio carried a credit rating of AAAm by Standard and Poor’s as of
June 30, 2013.
3. Property Tax Use-Value Assessment On Certain Lands
In accordance with the General Statutes, agriculture, horticulture, and forest land may be taxed by the
County at the present-use value as opposed to market value. When the property loses its eligibility
for use-value taxation, the property tax is recomputed at market value for the current year and the
three preceding fiscal years, along with the accrued interest from the original due date. This tax is
immediately due and payable. The following are property taxes that could become due if present usevalue eligibility is lost. These amounts have not been recorded in the financial statements.
Year
Levied
2010
2011
2012
2013
Total
Tax
$
$
Interest
2,044,447 $
2,070,509
2,103,254
2,159,352
8,377,562 $
669,556 $
491,746
310,230
124,163
1,595,695 $
Total
2,714,003
2,562,255
2,413,484
2,283,515
9,973,257
4. Receivables
Receivables at Exhibit A at June 30, 2013 were as follows:
Accounts
Notes
Receivable
Taxes
Due from
Other
Governments
Total
General
Other governmental
Total receivables
Allowance for doubtful accounts
$ 5,046,961 $ 2,294,601 $
1,410
271,392
5,048,371
2,565,993
(939,623)
(402,784)
$ 4,645,587 $ 1,626,370 $
Amounts not scheduled for collection
during the subsequent year
$
- $
- $
209,362 $
- $
209,362
$
104,289 $
146,560 $
- $
- $
250,849
$
27,322
2,225
11,599
2,659
148,094
(9,126)
138,968 $
146,560
(62,000)
84,560 $
- $
7,303
15,979
4,149
2,395
29,826
29,826 $
Landfill Fund
Flatrock/Bannertown
Water & Sewer District
Dobson Area Water & Sewer District
Elkin Area Water & Sewer District
Interstates Water & Sewer District
Total receivables
Allowance for doubtful accounts
Due from other governments consisted of the following:
Governmental
Activities
Business-Type
Activities
Lottery proceeds
Due from Elkin
Due from Dobson
Due from Mount Airy
$
776,747 $
321,306
-
4,149
18,374
7,303
Total
$
1,155,958 $
29,826
235,210 $
235,210
235,210 $
776,747 $ 8,353,519
379,211
652,013
1,155,958
9,005,532
(1,342,407)
1,155,958 $ 7,663,125
34,625
18,204
15,748
5,054
324,480
(71,126)
253,354
5. Capital Assets
A. Governmental Capital Assets
A summary of changes in the County’s governmental capital assets follows:
July 1, 2012
By Asset Type:
Non-Depreciable Assets:
Land
Depreciable Assets:
Buildings and improvements
Equipment
Vehicles
Total
Less Accumulated Depreciation:
Buildings and improvements
Equipment
Vehicles
Total
Capital assets, net
Additions
$ 14,712,731 $
7,454,536
Retirements
179,955 $
43,400
June 30, 2013
- $ (13,780,386) $
(29,335)
-
81,223,208
5,771,519
3,835,527
112,997,521
583,019
460,488
700,547
1,967,409
(150,849)
(239,994)
(367,523)
(787,701)
(11,053,100)
(4,583,409)
(3,101,377)
(18,737,886)
(2,042,828)
(409,585)
(396,394)
(2,848,807)
23,216
231,495
346,414
601,125
$ 94,259,635 $
Transfers
(881,398) $
(186,576) $
12,969,598
(810,788)
(810,788) $
1,112,300
7,468,601
94,624,976
5,992,013
4,168,551
113,366,441
(13,072,712)
(4,761,499)
(3,151,357)
(20,985,568)
92,380,873
Depreciation expense was charged to functions/programs of the primary government as follows:
General government
Public safety
Human services
Education
Total
$
$
1,159,481
599,976
77,515
57,091
832,983
121,761
2,848,807
B. Proprietary Capital Assets
The capital assets of the proprietary funds at June 30, 2013 are as follows:
July 1, 2012
Additions
Landfill Fund:
Land
$ 1,500,951 $
Depreciable Assets:
Building and improvements
8,737,663
Fencing
93,127
Heavy equipment
2,320,091
Vehicles
838,013
Scales
69,083
226,572
Light equipment
13,785,500
Total
Building and improvements
(3,608,247)
Fencing
(47,467)
Heavy equipment
(2,187,861)
Vehicles
(562,999)
Scales
(76,283)
(190,479)
Light equipment
(6,673,336)
Total
Capital assets, net
7,112,164
Retirements
- $
- $
Transfers
June 30, 2013
- $
1,500,951
9,965
34,980
54,443
99,388
(78,650)
(14,864)
(93,514)
-
8,747,628
93,127
2,276,421
877,592
69,083
226,572
13,791,374
(384,722)
(738)
(98,050)
(37,700)
(24,348)
(545,558)
78,650
13,364
92,014
-
(3,992,969)
(48,205)
(2,207,261)
(587,335)
(76,283)
(214,827)
(7,126,880)
(446,170)
(1,500)
-
6,664,494
July 1, 2012
Flat Rock/ Bannertown
Water and Sewer District:
Land
Depreciable Assets:
Total
Capital assets, net
Dobson Area Water and
Sewer District:
Depreciable Assets:
Capital assets, net
Additions
Retirements
Transfers
June 30, 2013
20,000
-
-
-
20,000
6,572,659
6,592,659
-
-
-
6,572,659
6,592,659
(164,316)
-
-
5,935,393
(164,316)
-
-
5,771,077
2,561,180
-
-
-
2,561,180
(64,030)
-
-
2,473,984
(64,030)
-
-
2,409,954
810,788
(657,266)
(87,196)
Elkin Area
Water and Sewer District:
Depreciable Assets:
-
-
-
810,788
-
(10,135)
-
-
Capital assets, net
-
(10,135)
-
810,788
(821,582)
(151,226)
(10,135)
800,653
July 1, 2012
Interstates Water and
Sewer District:
Land
Depreciable Assets:
Total
Additions
Retirements
Transfers
June 30, 2013
16,140
240,230
64,190
-
-
16,140
304,420
1,902,086
2,158,456
64,190
-
-
1,902,086
2,222,646
(47,552)
-
-
16,638
-
-
(67,365)
Capital assets, net
2,091,091
Total business-type
capital assets, net
$ 17,612,632 $
(668,013) $
(1,500) $
810,788 $
(114,917)
2,107,729
17,753,907
6. Commitments
The government has active construction projects. At June 30, 2013, the government’s commitments
with contractors and projects were as follows:
Spent-to-Date
Project
Guaranteed Energy Savings Contract
White Plains Roof
Interstates Sewer Collection System
$
1,112,301 $
311,279
304,420
Total
$
1,728,000 $
Remaining
Commitment
36,467
404,917
8,580
449,964
7. Payables
Payables at Exhibit A at June 30, 2013 were as follows:
Vendors
General Fund
Capital project funds
Special revenue funds
$
Landfill Fund
Interstates Water and Sewer District
Dobson Area Water and Sewer District
Total
Due to
Schools
804,417 $
271,078
38,166
1,113,661
19,517
41,565
16,253
77,335
$
Insurance
Claims
Incurred, But
Not Reported
1,190,996 $
332,191 $
332,191
332,191 $
Total
706,641 $
706,641
706,641 $
1,843,249
271,078
38,166
2,152,493
19,517
41,565
16,253
77,335
2,229,828
8. Pension Plan Obligations
A. Local Governmental Employees' Retirement System
Plan Description. Surry County contributes to the statewide Local Governmental Employees'
Retirement System (LGERS), a cost-sharing multiple-employer defined benefit pension plan
administered by the State of North Carolina. LGERS provides retirement and disability benefits
to plan members and beneficiaries. Article 3 of G.S. Chapter 128 assigns the authority to
establish and amend benefit provisions to the North Carolina General Assembly. The LGERS is
included in the Comprehensive Annual Financial Report (CAFR) for the State of North Carolina.
The State's CAFR includes financial statements and required supplementary information for
LGERS. That report may be obtained by writing to the Office of the State Controller, 1410 Mail
Service Center, Raleigh, North Carolina 27699-1410, or by calling (919) 981-5454.
Funding Policy. Plan members are required to contribute six percent of their annual covered
salary. The County is required to contribute at an actuarially determined rate. For the County,
the current rate for employees not engaged in law enforcement and for law enforcement officers
is 6.74% and 6.77%, respectively, of annual covered payroll. The contribution requirements of
members and of Surry County are established and may be amended by the North Carolina
General Assembly. The County's contributions to LGERS for the years ended June 30, 2013,
2012, and 2011 were $1,320,680, $1,502,899, and $1,410,108, respectively. The contributions
made by the County equaled the required contributions for each year.
B. Law Enforcement Officers’ Special Separation Allowance
Plan Description. Surry County administers a public employee retirement system (the
"Separation Allowance"), a single-employer defined benefit pension plan that provides retirement
benefits to the County's qualified sworn law enforcement officers. The Separation Allowance is
equal to .85 percent of the annual equivalent of the base rate of compensation most recently
applicable to the officer for each year of creditable service. The retirement benefits are not
subject to any increases in salary or retirement allowances that may be authorized by the General
Assembly. Article 12D of G. S. Chapter 143 assigns the authority to establish and amend benefit
provisions to the North Carolina General Assembly. The plan does not issue a separate standalone financial report. Each local government makes benefit payments required under this plan.
All full-time County law enforcement officers are covered by the Separation Allowance. At
December 31, 2012, the Separation Allowance's membership consisted of 58 active plan
members and 6 retired and terminated members.
Summary of Significant Accounting Policies
Basis of Accounting. The County has chosen to fund the Separation Allowance on a pay-as-yougo basis. There are no plan assets and the liability is not material; therefore, the plan is not
presented as a pension trust fund in the County's Comprehensive Annual Financial Report.
Pension expenditures are made from the General Fund, which is maintained on the modified
accrual basis of accounting.
Method Used to Value Investments. No funds are set aside to pay benefits and administration
costs. These expenditures are paid as they come due.
Contributions. The County is required by Article 12D of G. S. Chapter 143 to provide these
retirement benefits and has chosen to fund the benefit payments on a pay-as-you-go basis through
appropriations made in the General Fund operating budget. The County's obligation to contribute
to this plan is established and may be amended by the North Carolina General Assembly. There
were no contributions made by employees.
The annual required contribution for the current year was determined as part of the December 31,
2011 actuarial valuation using the projected unit, credit actuarial cost method. The actuarial
assumptions included (a) 5.00% investment rate of return and (b) projected salary increases
ranging from 4.25% to 7.85% per year. Item (b) included an inflation component of 3.0%. The
assumptions did not include post-retirement benefit increases. The actuarial value of assets was
market value. The unfunded actuarial accrued liability is being amortized as a level of percentage
pay on a closed basis. The remaining amortization period at December 31, 2011 was 19 years.
Annual Pension Cost and Net Pension Obligation. The County's annual pension cost and net
pension obligation to the Separation Allowance for the current year were as follows:
Employer annual required contribution
Interest on net pension obligation
Adjustment to annual required contribution
Annual pension cost
Employer contributions made
Increase (decrease) in net pension obligation
Net pension obligation - July 1
Net pension obligation - June 30
$
$
106,340
22,402
(27,882)
100,860
(68,211)
32,649
448,038
480,687
Three-Year Trend Information
Year Ended
June 30
2011
2012
2013
Annual
Pension
Cost (APC)
$
110,000
99,511
100,860
Percentage
of APC
Contributed
68.87%
66.86%
67.63%
Net
Pension
Obligation
$
415,062
448,038
480,687
Funded Status and Funding Progress. As of December 31, 2012, the most recent actuarial
valuation date, the plan was not funded. The actuarial accrued liability for benefits was
$1,060,525, and the actuarial value of assets was $-0-, resulting in an unfunded actuarial accrued
liability (UAAL) of $1,060,525.
The covered payroll (annual payroll of active employees covered by the plan) was $2,121,678,
and the ratio of the UAAL to the covered payroll was 49.99 percent.
The Schedule of Funding Progress, presented as required supplementary information following
the notes to the financial statements, presents multi-year trend information about whether the
actuarial value of the plan assets are increasing or decreasing over time relative to the actuarial
accrued liability benefits.
C. Supplemental Retirement Income Plan for Law Enforcement Officers
Plan Description. The County contributes to the Supplemental Retirement Income Plan (the
“Plan”), a defined contribution pension plan administered by the Department of State Treasurer
and a Board of Trustees. The Plan provides retirement benefits to law enforcement officers
employed by the County. Article 5 of G.S. Chapter 135 assigns the authority to establish and
amend benefit provisions to the North Carolina General Assembly. The Supplemental Retirement
Income Plan for Law Enforcement Officers is included in the Comprehensive Annual Financial
Report (CAFR) for the State of North Carolina. The State’s CAFR includes pension trust fund
financial statements for the Internal Revenue Code Section 401(k) plan that includes the
Supplemental Retirement Income Plan for Law Enforcement Officers. That report may be
obtained by writing to the Office of the State Controller, 1410 Mail Service Center, Raleigh,
North Carolina 27699-1410, or by calling (919) 981-5454.
Funding Policy. Article 12E of G.S. Chapter 143 requires that the County contribute each month
an amount equal to five percent of each officer’s salary, and all amounts contributed are vested
immediately. Also, the law enforcement officers may make voluntary contributions to the plan.
Contributions for the year ended June 30, 2013 were $125,529, which consisted of $101,444 from
the County and $24,085 from the law enforcement officers.
D. Register of Deeds’ Supplemental Pension Fund
Plan Description. Surry County also contributes to the Register of Deeds’ Supplemental
Pension Fund (the “Fund”), a non-contributory, defined contribution plan administered by the
North Carolina Department of State Treasurer. The Fund provides supplemental pension benefits
to any County Register of Deeds who is retired under the Local Governmental Employees’
Retirement System (LGERS) or an equivalent locally sponsored plan. Article 3 of G.S. Chapter
161 assigns the authority to establish and amend benefit provisions to the North Carolina General
Assembly. The Fund is included in the Comprehensive Annual Financial Report (CAFR) for the
State of North Carolina. The State’s CAFR includes pension trust fund financial statements for
the Internal Revenue Code Section 401(k) plan that includes the Supplemental Retirement
Income Plan for Law Enforcement Officers. That report may be obtained by writing to the Office
of the State Controller, 1410 Mail Service Center, Raleigh, North Carolina 27699-1410, or by
calling (919) 981-5454.
Funding Policy. On a monthly basis, the County remits to the Department of State Treasurer an
amount equal to one and one-half percent (1.5%) of the monthly receipts collected pursuant to
Article 3 of G.S. Chapter 161. Immediately following January 1 of each year, the Department of
State Treasurer divides ninety-three percent (93%) of the amount in the Fund at the end of the
preceding calendar year into equal shares to be disbursed as monthly benefits. The remaining
seven percent (7%) of the Fund’s assets may be used by the State Treasurer in administering the
Fund. For the fiscal year ended June 30, 2013, the County’s required and actual contributions
were $6,305.
E. Other Post-Employment Healthcare Benefits
In addition to providing pension benefits, Surry County has elected to provide post-retirement
healthcare benefits to retirees employed on or before June 16, 2008 of the County who participate
in the North Carolina Local Governmental Employees' Retirement System (the “System”) and
have at least twenty years of creditable service with the County. The County pays half the cost of
coverage for these benefits to qualifying retirees. Also, qualifying retirees can purchase coverage
for their dependents at the County's group rates. Currently, seventy-three (73) are eligible for
post-retirement health benefits. For the fiscal year ended June 30, 2013, the County made
payments for post-retirement health benefit premiums of $225,061. The County provides
healthcare coverage through a self-funded health plan. However, the County obtains specific and
aggregate stop-loss coverage through a private insurer. Claims are managed by a third-party
administrator. On June 16, 2008, Surry County abolished the retirees’ insurance plan. All
individuals employed on or before June 16, 2008 are grandfathered and will remain eligible for
the benefit unless terminated prior to meeting eligibility requirements. This is a single employer
defined benefit plan. A separate report was not issued for the plan.
Membership of the Plan consisted of the following at December 31, 2011, the date of the latest
actuarial valuation:
Retirees and dependents receiving benefits
Terminated plan members entitled to,
but not yet receiving, benefits
Active plan members
Total
General
Employees
70
434
504
Law
Enforcement
Officers
48
48
Funding Policy. The County pays 50% of the cost of coverage for the healthcare benefits paid to
qualified retirees under a County resolution that can be amended by the County Commissioners.
The County’s members pay 50% of individual coverage plus 100% of any dependent coverage
carried. The County has chosen to fund the healthcare benefits on a pay-as-you-go basis.
The current ARC rate is 6.36% of annual covered payroll. For the current year, the County
contributed $225,061, or 1.31% of annual covered payroll. The County purchases insurance from
a private carrier for healthcare coverage of retirees over 65 years of age. Retirees under age 65
remain on the County’s self-insured health plan. The County’s required contributions, under a
County resolution, for employees not engaged in law enforcement and for law enforcement
officers represented 6.36% and 6.36% of covered payroll, respectively. Contributions made by
members were approximately $225,061; no dependent coverage was elected by current retirees.
The County’s obligation to contribute to the Plan is established and may be amended by the
County Commissioners.
Summary of Significant Accounting Policies. Post-employment expenditures are made from
the General Fund, which is maintained on the modified accrual basis of accounting. No funds are
set aside to pay benefits and administration costs. These expenditures are paid as they come due.
Annual OPEB Cost and Net Obligation. The County’s annual OPEB cost (expense) is
calculated based on the annual required contribution of the employer (ARC), an amount
actuarially determined in accordance with the parameters of GASB Statement 45. The ARC
represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost
each year and amortize any unfunded actuarial liabilities (or funding excess) over a period not to
exceed thirty years. The following table shows the components of the County’s annual OPEB
cost for the year, the amount actually contributed to the plan, and changes in the County’s net
OPEB obligation for the healthcare benefits:
Governmental
Activities
Annual required contribution
Interest on net OPEB obligation
Adjustments to annual required contribution
Annual OPEB cost (expense)
Contributions made
Increase (decrease) in net OPEB obligation
Net OPEB obligation, beginning of year - July 1
Net OPEB obligation, end of year - June 30
$
$
Business -Type
Activities
Total
1,069,831 $
133,754
(115,397)
21,833 $
2,592
(2,234)
1,091,664
136,346
(117,631)
1,088,188
(220,785)
22,191
(4,276)
1,110,379
(225,061)
867,403
3,342,429
4,209,832 $
17,915
66,193
84,108 $
885,318
3,408,622
4,293,940
The County’s annual OPEB cost, the percentage of annual OPEB cost contributed to the plan, and
the net OPEB obligation for 2013 were as follows:
Year Ended
June 30
2011
2012
2013
OPEB
Cost
$
Annual OPEB
Cost Contributed
1,056,775
1,105,383
1,110,379
23.90%
17.69%
20.27%
OPEB
Obligation
$
2,498,745
3,408,622
4,293,940
Funded Status and Funding Progress. As of December 31, 2011, the most recent actuarial
valuation date, the plan was not funded. The actuarial accrued liability for benefits and, thus, the
unfunded actuarial accrued liability (UAAL) was $10,945,383. The covered payroll (annual
payroll of active employees covered by the plan) was $17,175,350, and the ratio of the UAAL to
the covered payroll was 63.7 percent. Actuarial valuations of an ongoing plan involve estimates
of the value of reported amounts and assumptions about the probability of occurrence of events
far into the future. Examples include assumptions about future employment, mortality, and
healthcare trends. Amounts determined regarding the funded status of the plan and the annual
required contributions of the employer are subject to continual revision as actual results are
compared with past expectations and new estimates are made about the future. The Schedule of
Funding Progress, presented as required supplementary information following the notes to the
financial statements, presents multi-year trend information about whether the actuarial value of
plan assets are increasing or decreasing over time related to the actuarial accrued liabilities for
benefits.
Actuarial Methods and Assumptions. Projections of benefits for financial reporting purposes
are based on the substantive plan (the plan as understood by the employer and the plan members)
and include the types of benefits provided at the time of each valuation and the historical pattern
of sharing of benefit costs between the employer and plan members at that point. The actuarial
methods and assumptions used include techniques that are designed to reduce the effects of shortterm volatility in actuarial accrued liabilities and the actuarial value assets, consistent with the
long-term perspective of the calculations.
In the December 31, 2011 actuarial valuation, the projected unit credit actuarial cost method was
used. The actuarial assumptions included a 4.0 percent investment rate of return (net of
administrative expenses), which is the expected long-term investment returns on the employer’s
own investments calculated based on the funded level of the plan at the valuation date, and an
annual pre-Medicare cost trend increase 9.50 to 5.0 percent annually and an annual post-Medicare
trend rate increase of 7.00 to 5.00 percent annually. Both rates included a 3.00 percent inflation
assumption. The actuarial value of assets, if any, was determined using techniques that spread the
effects of short-term volatility in the market value of investments over a five-year period. The
UAAL is being amortized as a level percentage of projected payroll on an closed basis. The
remaining amortization period at December 31, 2011, was thirty years.
As of June 30, 2013, management had not decided on the funding options for this outstanding
obligation; therefore, OPEB will continue to be funded on a pay-as-you-go basis going into the
next fiscal year. Management will continue their efforts to find a way to fund the annual required
contribution while maintaining the level of service as prioritized by the County Board.
F. Other Employment Benefits
The County, pursuant to local ordinance, has elected to provide death benefits to employees
through the Death Benefit Plan for members of the Local Governmental Employees' Retirement
System (Death Benefit Plan), a multiple-employer, State-administered, cost-sharing plan funded
on a one-year term cost basis. The beneficiaries of those employees who die in active service
after one year of contributing membership in the System, or who die within 180 days after
retirement or termination of service and have at least one year of contributing membership service
in the System at the time of death, are eligible for death benefits. Lump sum death benefit
payments to beneficiaries are equal to the employee's twelve highest months' salary in a row
during the 24 months prior to the employee's death, but the benefit must be between $25,000 and
$50,000. All death benefit payments are made from the Death Benefit Plan. The County has no
liability beyond the payment of monthly contributions. Contributions are determined as a
percentage of monthly payroll, based upon rates established annually by the State. Separate rates
are set for employees not engaged in law enforcement and for law enforcement officers. Because
the benefit payments are made by the Death Benefit Plan and not by the County, the County does
not determine the number of eligible participants. For the fiscal year ended June 30, 2013, the
County was not required to make contributions to the State for death benefits. Due to a surplus,
the County qualified for a three year relief from the State and is not required to make
contributions to the Death Benefit Plan for three years beginning July 1, 2012.
9. Operating Leases
The County is committed under various operating leases for land, buildings, and equipment. For the
year ended June 30, 2013, total lease expenditures under these operating leases totaled $95,362. An
analysis of obligations under operating leases follows:
Year Ending
June 30
2014
2015
2016
2017
2018
Total
Amount
87,957
76,887
71,795
69,375
68,525
374,539
$
$
10. Long-Term Obligations
A. Capital Leases, Installment Purchases and Notes Payable
The County entered into an agreement to lease certain equipment. The lease agreement qualifies
as a capital lease for accounting purposes and, therefore, has been recorded at the present value of
future minimum lease payments as of the date of their inception.
The agreement was executed on December 19, 2012 for the lease of equipment and requires three
annual payments of $46,050. The capital lease is zero percent interest.
At June 30, 2013, the County leased equipment valued at:
Class of Property
Equipment
Cost
$
138,151 $
Accumulated
Depreciation
Net Book Value
46,050 $
92,101
The future minimum lease obligations and the net present value of these minimum lease
payments as of June 30, 2013 were as follows:
Year Ending
June 30
2014
2015
Total
Amount
$
46,050
46,051
$
92,101
Serviced by Governmental Funds
Amount
Date
Rate
Period
Amount
Balance
Purpose
Construct:
$ 2,746,000 December 2000
5.19%
Annual
2,254,550 June 2001
0.00%
Annual
$
183,067 $
7,000,000 December 2005
3.71%
Semi-annual
350,000
1,750,000 School
4,309,000 September 2003
4.03%
Semi-annual
143,633
1,579,967 College classroom building
1,700,000 June 2004
2,000,000 June 2004
4,300,000 January 2006
0.00%
0.00%
4.33%
Annual
Annual
Semi-annual
179,167
1,700,000 School QZAB
1,791,667 School
1,500,000 December 2006
3.74%
Semi-annual
75,000
-
549,208 County jail
525,000 School
1,800,000 December 2006
0.00%
Annual
-
2,000,000 June 2007
0.00%
Annual
-
1,265,000 September 2003
3.97%
Semi-annual
52,708
5,600,000 June 2009
3.58%
Semi-annual
233,333
263,542 Workforce Development Center
3,733,333 School
8,914,879 June 2010
5.88%
Semi-annual
-
8,914,879 School QSCB
7,500,000 June 2010
5.88%
Semi-annual
-
7,500,000 School RZED
1,563,270 June 2010
5.88%
Semi-annual
-
1,787,753 June 2010
5.88%
Semi-annual
125,000
1,194,555 June 2011
4.07%
Quarterly
2,000,000 June 2011
5.00%
Semi-annual
5,600,000 June 2011
4.62%
Annual
467,753 School BAB
23,500
1,148,476 Equipment
83,287
1,674,881 School QSCB
4,925,000 Economic Development
250,000
$ 46,141,526
Total installment purchase contracts and notes payable
58
Annual debt service requirements to maturity for installment purchase contracts and notes
payable serviced by governmental funds are as follows:
Year Ending
June 30
Principal
Interest
2014
2015
2016
2017
2018
2019-2023
2024-2026
$
4,403,303 $
6,919,226
4,278,903
3,631,774
5,573,925
17,863,568
3,470,827
1,794,227
1,585,005
1,364,170
1,169,978
991,584
2,626,888
252,540
Total
$
46,141,526 $
9,784,392
Serviced by Proprietary Funds
Amount
Original Issue
Date
Rate
$ 3,000,000
June 2009
3.31%
Payment Information
Period
Amount
$177,843 Semi-annual
$223,789
Outstanding
Balance
Purpose
$ 1,691,555 Landfill
$ 1,691,555
Total installment purchases
Annual debt service requirements to maturity for installment purchase contracts serviced by the
proprietary funds are as follows:
Year Ending
June 30
2014
2015
2016
2017
Total
Principal
$
$
402,298 $
415,724
429,598
443,935
1,691,555 $
Interest
52,689
39,262
25,388
11,051
128,390
B. Bonds Payable
All general obligation bonds serviced by the County’s General Fund are collateralized by the full
faith, credit, and taxing power of the County. Principal and interest payments are appropriated
when due.
Bonds payable at June 30, 2013 are comprised of the following individual issues:
Original Issue
Amount
Date
Payment Information
Rate
Period
Amount
Outstanding
Balance
Purpose
$ 1,100,000
February 2010
2 - 5%
Annual
$55,000$75,000
8,145,000
February 2010
2 - 5%
Annual
$200,000$1,770,000
Total general obligation bonds
$
Construct:
Public Building Series
935,000 2010A
Refunding Series
1,260,000 2010B
$ 2,195,000
Annual debt service requirements to maturity for general obligation bonds are as follows:
Year Ending
June 30
2014
2015
2016
2017
2018
2019-2023
2024-2028
Total
Principal
$
$
1,115,000 $
255,000
55,000
55,000
55,000
275,000
385,000
2,195,000 $
Interest
60,694
38,394
33,129
31,644
29,994
119,100
58,075
371,030
C. Bonds Payable – Proprietary Fund
All general obligation bonds serviced by Flat Rock/Bannertown Water and Sewer District of
Surry County are collateralized by the full faith, credit, and taxing power of Surry County.
Principal and interest payments are appropriated when due.
Bonds payable is comprised of the following issue:
Amount
$ 2,548,000
Date
Sept 2007
Rate
4.25%
Period
Amount
Annual
$29,000 $116,000
Balance
Purpose
Construct:
Water and Sewer
$ 2,427,000 Series 2007
Annual debt service requirements to maturity for general obligation bonds serviced by the
Proprietary Fund are as follows:
Year Ending
June 30
2014
2015
2016
2017
2018
2019-2023
2024-2028
2029-2033
2034-2038
2039-2043
2044-2047
Total
Principal
Interest
$
34,000 $
103,148
35,000
101,703
37,000
100,215
38,000
98,643
40,000
97,028
225,000
458,363
277,000
406,258
341,000
342,168
419,000
263,373
517,000
166,345
464,000
49,300
$
2,427,000 $
2,186,544
Changes in Long-Term Debt
The following is a summary of changes in long-term debt for the year ended June 30, 2013:
Current
Balance
July 1, 2012
Increases
Decreases
Balance
June 30, 2013
Portion of
Balance
General obligation bonds
$
Installment purchases/notes payable
3,875,000 $
51,078,255
Capital lease
- $ 1,680,000 $
-
4,936,729
2,195,000 $ 1,115,000
46,141,526
4,403,303
-
138,151
46,050
92,101
46,050
Compensated absences
1,852,242
2,098,334
2,107,251
1,843,325
1,658,993
Other post-employment benefits
3,342,429
1,088,189
220,786
4,209,832
-
448,038
100,860
68,211
480,687
-
Separation allowance for law
enforcement officers' liability
$
60,595,964 $ 3,425,534 $ 9,059,027 $
54,962,471 $ 7,223,346
Installment purchases
$
General obligation bonds
Other post-employment benefits
2,080,860 $
- $
389,305 $
1,691,555 $
402,298
2,459,000
-
32,000
2,427,000
34,000
66,193
22,190
4,275
84,108
-
2,566,605
31,467
24,298
50,000
25,387
2,516,605
30,378
12,233
27,340
7,204,125 $
46,488 $
Accrued landfill closure
and post-closure care cost
Compensated absences
$
500,967 $
6,749,646 $
475,871
Compensated absences and the net pension and other post-employment benefit obligations
typically have been liquidated in the General Fund. Compensated absences are accounted for on
a LIFO basis, assuming that employees are taking leave time as it as earned.
At June 30, 2013, the County had a legal debt margin of $378,132,800.
D. Net Investment in Capital Assets
The total net investment in capital assets as of June 30, 2013 is composed of the following
elements:
Governmental
Activities
Capital assets, net of
accumulated depreciation
Less: capital debt
Gross debt
Less:
School debt related to assets to
which the County does not hold title
County related debt
$
Business-Type
Activities
92,380,873 $
48,428,627
4,118,555
(1,260,000)
47,168,627
4,118,555
33,866
Add: Unexpended debt proceeds
$
17,753,907
-
45,246,112 $
13,635,352
Unavailable
Revenues
Unearned
Revenues
11. Deferred Outflows and Inflows of Resources
Deferred Inflows:
Prepaid taxes (General Fund)
Prepaid taxes (special revenue funds)
Taxes receivable, net (General Fund)
Taxes receivable, net (special revenue funds)
Total
$
$
- $
1,449,415
176,957
1,626,372 $
145,169
14,351
159,520
12. Interfund Balances and Activity
The following is a summary of interfund transfers.
Transfers
From
Transfers From/To Other Funds:
General Fund
Landfill Fund
$
20,000
$
General Fund
County Buildings Capital Project Fund
36,046
General Fund
Elkin Area Water/Sewer Fund
810,788
General Fund
Dobson Area Water/ Sewer Fund
16,313
General Fund
Flat Rock Water/Bannertown Water and Sewer District
65,000
General Fund
12,535
General Fund
Interstates Water/Sewer Project Fund
10,442
Total
To
To supplement other funding
20,000 sources for landfill operations
To accumulate resources for
36,046 various County capital projects
To transfer capital assets from
810,788 General Fund to Elkin Water/Sewer Fund
16,313
sources for water/sewer operations
65,000
12,535 sources for water/sewer operations
10,442
$
971,124 $
Purpose
971,124
The composition of interfund balances as of June 30, 2013 is as follows:
Receivable Entity
Payable Entity
General Fund
General Fund
General Fund
General Fund
General Fund
Total
Grants Project Fund
Dobson Area Water/ Sewer Fund
Flat Rock/ Bannertown Water and Sewer District
Interstates Water and Sewer District
Amount
$
$
The interfund balances above are advances until project financing is received.
1,410
1,951
15,748
66,243
595
85,947
Benefit Payments Issued by the State
The amounts listed below were paid directly to individual recipients by the State from federal and
State monies on behalf of the County. County personnel are involved with certain functions,
primarily eligibility determinations, which cause benefit payments to be issued by the State. These
amounts disclose this additional aid to County recipients, which do not appear in the basic financial
statements, because they are not revenues and expenditures of the County.
Temporary Assistance for Needy Families
Medicaid
Special Supplemental Food Program
for Woman, Infants, and Children
Total
Federal
$
342,460 $
62,692,293
(37)
35,746,552
1,788,347
64,823,100 $
35,746,515
$
State
13. Related Organization
Northern Hospital Board of Trustees. The Chairman of the County's governing board is responsible
for appointing the members of the Board of the Northern Hospital Board of Trustees. The County's
accountability for this organization does not extend beyond making these appointments. The entity
exists to provide healthcare services for persons inside and outside the County. Complete financial
statements for Northern Hospital of Surry County may be obtained at PO Box 1101, 830 Rockford
Street, Mount Airy, NC 27030.
14. Joint Ventures
The County, in conjunction with the Counties of Yadkin, Burke, Gaston, Catawba, Lincoln,
Cleveland, and Iredell, participate in Partners Behavioral Health Management. The County appoints
two members out of the twenty-one member Board. The entity exists to provide mental health
services for the citizens of all seven counties. The County contributed $201,728 to the entity during
the fiscal year ended June 30, 2013. The participating governments do not have any equity interest in
the joint venture, so no equity interest has been reflected in the financial statements at June 30, 2013.
Complete financial statements for the Mental Health Authority may be obtained from the Mental
Health Authority's administrative offices at 901 S. New Hope Road Gastonia, North Carolina 28054.
The County also participates in a joint venture to operate the Northwest Regional Library (the
“library”) with four other local governments. The County appoints four members, and the other three
participating governments each appoint three Board members to the thirteen-member Board of the
library. The County has an ongoing financial responsibility for the joint venture because the library's
continued existence depends on the participating governments' continued funding. None of the
participating governments have any equity interest in the library, so no equity interest has been
reflected in the financial statements at June 30, 2013. In accordance with the intergovernmental
agreement between the participating governments, the County appropriated $426,500 to the library
for the year ended June 30, 2013 to supplement its activities. Complete financial statements for the
library may be obtained from the library's offices at 111 North Front Street, Elkin, North Carolina
28621.
The County, in conjunction with the State of North Carolina and the County Boards of Education,
participates in a joint venture to operate Surry Community College (the “community college”). Each
of the three participants appoints four members of the fourteen-member Board of Trustees of the
community college. The President of the Student Government Association of the community college
serves as a non-voting, ex-officio member of the Board of Trustees. The community college is
included as a component unit of the State. The County has the basic responsibility for providing
funding for the facilities of the community college and also provides some financial support for
operations of the community college. In addition to providing annual appropriations for facilities, the
County periodically issues general obligation bonds to provide financing for new and restructured
facilities. The County has an ongoing financial responsibility for the community college because of
the statutory responsibilities to provide funding for the facilities of the community college. The
County contributed $2,040,000 to the community college for operating purposes during the fiscal year
ended June 30, 2013. In addition, the County has previously issued general obligation bonds of
$3,500,000 and installment financing of $5,574,000 for community college capital facilities. The
participating governments do not have any equity interest in the joint venture; therefore, no equity
interest has been reflected in the County's financial statements at June 30, 2013. Complete financial
statements for the community college may be obtained from the community college's administrative
offices at South Main Street, Dobson, North Carolina 27017.
15. Jointly Governed Organization
The County, in conjunction with eleven other counties and sixty-one other municipalities, participate
in the Piedmont Triad Regional Council of Governments (the “Council”). The Council was
established to coordinate various funding received from federal and State agencies. Each
participating government appoints one member of the Council's governing board. The County
disbursed $266,579 to the Council during the fiscal year ended June 30, 2013. Complete financial
statements for the Council may be obtained at 400 West Fourth Street, Suite 400, Winston-Salem,
North Carolina 27101.
The County, in conjunction with three other counties and the Piedmont Triad Regional Council,
established the Surry County Housing Consortium (the “Consortium”). The participating counties
established the Consortium to administer the Home Program, a federal grant from the U.S.
Department of Housing and Urban Development. Each county appoints three members and three
alternative members to the Consortium's governing board. The County is the lead agency for the
Consortium, and the revenues and expenditures of the Consortium are reported in Schedule 4.
The County, in conjunction with the City of Mount Airy, established the Mount Airy-Surry County
Airport Authority (the “Airport Authority”). The participating governments established the Airport
Authority to operate and manage a local, non-commercial airport facility. The County appoints three
members of a six-member governing board. The County disbursed $85,500 to the Airport Authority
during the fiscal year ended June 30, 2013. Complete financial statements for the Airport Authority
may be obtained at 146 Howard Woltz Jr. Way, Mount Airy, NC 27030-9020.
The County, in conjunction with four other counties and fourteen other municipalities, established the
Yadkin Valley Economic Development District, Inc. (the “District”). The participating governments
established the District to oversee the economic development of the District. The County appoints
three members and three alternative members of a twenty-seven member governing board. The
County disbursed $900,819 to the District during the fiscal year ended June 30, 2013. Complete
financial statements for the District may be obtained at PO Box 309, Boonville, NC 27011.
16. Closure and Post-Closure Care Costs – Landfill Facilities
Federal and State laws and regulations have required the County to place a final cover on two landfill
facilities located in Mount Airy and Elkin, North Carolina, and to perform certain maintenance and
monitoring functions at the sites for thirty years after closure. The closure and post-closure care costs
are paid only near or after the date that the landfills stop accepting waste. The County reports a
portion of these closure and post-closure care costs as an operating expense in each period based on
landfill capacity use as of each balance sheet date.
The County closed two municipal solid waste (MSW) landfills in 1998; however the landfills
continued to be permitted for construction and demolition material. In 2009, these landfills were
permanently closed and 100% of $1,596,466 in estimated post-closure costs had been accrued. These
funds will be used for required monitoring and related costs for a period of thirty years. As of June
30, 2013, Surry County is responsible for twenty-six years of additional monitoring and reports postclosure liability of $1,493,698 for these two landfills.
In 1998, Surry County opened a third Subtitle D lined landfill. This landfill was expanded in 2009
with the opening of a new eleven-acre cell. This expansion increased the expected useful life of the
landfill from nine to twenty-five years. The County expects to close the current cells in 2034. Current
estimates for closure, post-closure and potential corrective actions total $6,617,176. These amounts
are based on what it would cost to perform all closure, post-closure care and any potential corrective
actions in 2013. Actual costs may be higher due to inflation, changes in technology, or changes in
regulations.
Based on years of expected life, the Subtitle D landfill has 84% remaining capacity. The $2,516,605
reported as landfill closure and post-closure care liability at June 30, 2013, represents the cumulative
amount reported to date for the closure, post-closure care and potential corrective action costs of all
three landfills. Of the cumulative amount reported to date, $1,022,907 represents the Subtitle D
landfill which exceeds the amount required based on used capacity (16%). This excess results from
the increase in expected remaining life from nine to twenty-five years. Since potential corrective
actions can be substantial and can occur in any given year, the County will continue to recognize the
excess until used capacity reaches the cumulative amount. The County will recognize the remaining
$5.59 million as the remaining capacity is filled.
The County has met the requirements of a local government financial test that is one option under
federal and State laws and regulations that helps determine if a unit is financially able to meet closure
and postclosure care requirements. The County has also elected to establish a fund to accumulate
resources for the payment of expansion, closure and post-closure care costs. The County expects that
future inflation costs will be paid from the interest earnings on these annual contributions. However,
if interest earnings are inadequate or additional post-closure care requirements are determined (due to
changes in technology or applicable laws or regulations, for example), these costs may need to be
covered by charges to future landfill users or by future tax revenues.
17. Risk Management
The County is exposed to various risks of losses related to torts; theft of, damage to, and destruction
of assets; errors and omissions; injuries to employees; and natural disasters. The County carries
commercial coverage for general liability, property and casualty, errors and omissions, and umbrella
insurance. Through this coverage, the County obtains property coverage equal to replacement cost
values of owned property with the exception of contractor’s equipment, which is insured for actual
cash value, and vehicles that are insured for actual cash value or the cost of repair. Commercial
automobile liability has a limit of $1,000,000 per accident. The County’s general liability coverage
has a limit of $1,000,000 for each occurrence and a $2,000,000 aggregate limit. The County’s errors
and omissions coverage has a limit of $1,000,000 per occurrence with aggregate limits of $3,000,000.
In addition to the coverage above, the County has umbrella coverage with per occurrence and
aggregate limits of $7,000,000.
The County carries commercial coverage for all other risks of loss. There have been no significant
reductions in insurance coverage from the previous year, and settled claims have not exceeded
coverage in any of the past three years.
The County carries $1,000,000 per occurrence with aggregate limits of $5,000,000 in flood insurance
except for zones A and V.
In accordance with G.S. 159-29, the County’s Finance Officer and Tax Collector are each
individually bonded for $250,000 and $100,000 respectively. The remaining employees that have
access to funds are insured with a commercial carrier.
The Health and Nutrition Center carries malpractice insurance through a commercial carrier. The
County also provides employee life insurance coverage through a commercial carrier. The County
provides workers' compensation coverage and healthcare coverage through self-funded health plans.
Claims are managed by third-party administrators and the County obtains specific and aggregate stoploss coverage through private insurers.
Liabilities are reported when it is probable that a loss has occurred and the amount of the loss can be
reasonably estimated. Liabilities include an amount for claims that have been incurred, but not
reported (IBNR’s).
Changes in the balances of claims liabilities for health insurance during the past fiscal year are as
follows:
2013
2012
$
525,765 $
589,906
3,029,278
3,947,152
(3,133,402)
(4,011,293)
525,765
$
421,641 $
Unpaid claims, beginning
Incurred claims
Claim payments
Unpaid claims, ending
Changes in the balances of claims liabilities for workers' compensation insurance during the past
fiscal year are as follows:
Unpaid claims, beginning
Incurred claims
Claim payments
Unpaid claims, ending
$
$
2013
300,000 $
132,182
(147,182)
285,000 $
2012
573,018
641,775
(914,793)
300,000
Claims typically have been liquidated in the General Fund.
18. Claims and Judgments
At June 30, 2013, the County was defendant to various lawsuits. In the opinion of the County's
Management and the County Attorney, the ultimate effect of these legal matters will not have a
material adverse effect on the County's financial position.
19. Summary Disclosure of Significant Contingencies
Federal and State-Assisted Programs
The County has received proceeds from several federal and State grants. Periodic audits of these
grants are required and certain costs may be questioned as not being appropriate expenditures under
the grant agreements. Such audits could result in the refund of grant monies to the grantor agencies.
Management believes that any required refunds will be immaterial. No provision has been made in
the accompanying financial statements for the refund of grant monies.
20. Change in Accounting Principle
The County implemented Governmental Accounting Standards Board (GASB) Statement 63,
Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net
Position, and Statement 65, Items Previously reported as Assets and Liabilities, in the fiscal year
ending June 30, 2013. In accordance with GASB Statement 63, the Statement of Net Assets has been
replaced with the Statement of Net Position. Items on the Statement of Net Position are now
classified into Assets, Deferred Outflows of Resources, Liabilities, Deferred Inflows of Resources,
and Net Position. Additionally, GASB Statement 65 requires that deferred costs from the refunding
of debt, which were previously deferred and amortized, be presented as deferred outflows of
resources. Bond issuance costs, which were previously deferred and amortized, must be included in
current expenditures.
REQUIRED SUPPLEMENTAL FINANCIAL DATA
Schedule 1
LAW ENFORCEMENT OFFICERS' SPECIAL SEPARATION ALLOWANCE
REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Funding Progress
Actuarial
Valuation
Date
Actuarial
Value of
Assets
A
Actuarial
Accrued
Liability (AAL) Projected Unit
Credit
B
Unfunded
AAL
(UAAL)
B-A
Funded
Ratio
A/B
Covered
Payroll
C
Schedule of Employer Contributions
Year Ended
June 30
Annual
Required
Contribution
(ARC)
Percentage
of ARC
Contributed
Notes to the Required Schedules:
7KHLQIRUPDWLRQSUHVHQWHGDERYHZDVGHWHUPLQHGDVSDUWRIWKHDFWXDULDOYDOXDWLRQDWWKHGDWHVLQGLFDWHG
$GGLWLRQDOLQIRUPDWLRQDVRIWKHODWHVWYDOXDWLRQIROORZV
9DOXDWLRQGDWH
$FWXDULDOFRVWPHWKRG
$PRUWL]DWLRQPHWKRG
5HPDLQLQJDPRUWL]DWLRQSHULRG
$VVHWYDOXDWLRQPHWKRG
$FWXDULDODVVXPSWLRQV
,QYHVWPHQWUDWHRIUHWXUQ
3URMHFWHGVDODU\LQFUHDVHV
&RVWRIOLYLQJDGMXVWPHQWV
3URMHFWHGXQLWFUHGLW
/HYHOSHUFHQWRISD\FORVHG
\HDUV
0DUNHWYDOXH
1$
71
,QFOXGHVLQIODWLRQDW
UAAL as a
Percentage
of Covered
Payroll
(B - A) /C
Schedule 2
OTHER POST-EMPLOYMENT BENEFITS RETIREE HEALTH PLAN
REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Funding Progress
Actuarial
Valuation
Date
Actuarial
Value of
Assets
A
Actuarial
Accrued
Liability (AAL) Unfunded
Projected Unit
AAL
Credit
(UAAL)
B
B-A
Funded
Ratio
A/B
Covered
Payroll
C
Schedule of Employer Contributions
Year Ended
June 30
Annual
Required
Contribution
(ARC)
Percentage
of ARC
Contributed
Notes to the Required Schedules:
7KHLQIRUPDWLRQSUHVHQWHGDERYHZDVGHWHUPLQHGDVSDUWRIWKHDFWXDULDOYDOXDWLRQDWWKHGDWHVLQGLFDWHG
$GGLWLRQDOLQIRUPDWLRQDVRIWKHODWHVWYDOXDWLRQIROORZV
9DOXDWLRQGDWH
$FWXDULDOFRVWPHWKRG
$PRUWL]DWLRQPHWKRG
5HPDLQLQJDPRUWL]DWLRQSHULRG
$VVHWYDOXDWLRQPHWKRG
$FWXDULDODVVXPSWLRQV
,QYHVWPHQWUDWHRIUHWXUQ
3UH0HGLFDUHWUHQGUDWH
3RVW0HGLFDUHWUHQGUDWH
<HDURI8OWLPDWHWUHQGUDWH
3URMHFWHGXQLWFUHGLW
/HYHOSHUFHQWRISD\FORVHG
\HDUV
0DUNHWYDOXHRIDVVHWV
72
,QFOXGHVLQIODWLRQDW
UAAL as a
Percentage
of Covered
Payroll
(B - A) /C
THE GENERAL FUND
7KH*HQHUDO)XQGDFFRXQWVIRUUHVRXUFHVWUDGLWLRQDOO\DVVRFLDWHGZLWKJRYHUQPHQWWKDWDUHQRWUHTXLUHG
OHJDOO\RUE\VRXQGILQDQFLDOPDQDJHPHQWWREHDFFRXQWHGIRULQRWKHUIXQGV
Schedule 3
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCE - ACTUAL - GENERAL FUND CONSOLIDATED
General
Fund
Revenues:
$GYDORUHPWD[HV
/RFDORSWLRQVDOHVWD[HV
8QUHVWULFWHGLQWHUJRYHUQPHQWDOUHYHQXHV
5HVWULFWHGLQWHUJRYHUQPHQWDOUHYHQXHV
3HUPLWVDQGIHHV
6DOHVDQGVHUYLFHV
,QWHUHVWHDUQHGRQLQYHVWPHQWV
0LVFHOODQHRXV
7RWDOUHYHQXHV
Schools
Capital Outlay
Fund
Revaluation
Fund
Eliminations
Total
General Fund
Expenditures:
*HQHUDOJRYHUQPHQW
3XEOLFVDIHW\
(FRQRPLFDQGSK\VLFDOGHYHORSPHQW
+XPDQVHUYLFHV
&XOWXUDODQGUHFUHDWLRQ
(GXFDWLRQ
'HEWVHUYLFH
3ULQFLSDOUHSD\PHQWV
,QWHUHVW
7RWDOH[SHQGLWXUHV
5HYHQXHVRYHUXQGHUH[SHQGLWXUHV
7UDQVIHUVLQ
7UDQVIHUVRXW
&DSLWDOOHDVHREOLJDWLRQVLVVXHG
7RWDORWKHUILQDQFLQJVRXUFHVXVHV
1HWFKDQJHLQIXQGEDODQFHV
Fund Balances:
%HJLQQLQJRI\HDU-XO\
(QGRI\HDU-XQH
73
Schedule 4
Page 1 of 17
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 30, 2012
2013
Final
Budget
Revenues:
Ad Valorem Taxes:
7D[HV
,QWHUHVWDQGFRPPLVVLRQV
7RWDO
2012
Actual
Variance
Over/Under
Actual
Other Taxes:
Local Option Sales Tax:
$UWLFOHRQHSHUFHQW
$UWLFOHRQHKDOIRIRQHSHUFHQW
*URVVUHFHLSWVRQPRWRUYHKLFOHV
7RWDO
Unrestricted Intergovernmental Revenues:
3D\PHQWLQOLHXRIWD[HV
)UDQFKLVHDQGXWLOLW\WD[
)HGHUDOVXEVLG\LQWHUHVW
%HHUDQGZLQH
7RWDO
Restricted Intergovernmental Revenues:
)HGHUDODQG6WDWHJUDQWV
&RRSHUDWLYHH[WHQVLRQ
&RXUWIDFLOLW\IHHV
(06
+HDOWK
3DUNVUHFUHDWLRQ
6KHULII
6RFLDOVHUYLFHV
6RLODQGZDWHU
0LVFHOODQHRXV
7RWDO
Licenses and Permits:
%XLOGLQJSHUPLWVDQGLQVSHFWLRQIHHV
5HJLVWHURI'HHGV
IHHV
5HJLVWHURI'HHGV
7RWDO
74
Schedule 4
Page 2 of 17
GENERAL FUND
2013
Final
Budget
Sales, Services, and Rents:
$PEXODQFHIHHV
$QLPDOFRQWUROIHHV
&DUVHDWVDOHV
&RXUWFRVWV6KHULII
VIHHV
(QYLURQPHQWDOKHDOWKIHHV
*URXSKHDOWKDQGGHQWDOSUHPLXPV
+DQGJXQDQGILQJHUSULQWIHHV
+D]PDWIHHV
+HDOWK'HSDUWPHQW
+HDOWK'HSDUWPHQWPLVFHOODQHRXVIHHV
+HDOWK'HSDUWPHQWSDWLHQWIHHV0HGLFDLG
+HDOWK'HSDUWPHQWSDWLHQWIHHV0HGLFDUH
+HDOWK'HSDUWPHQWSDWLHQWIHHV3ULYDWH,QVXUDQFH
-DLOIHHV
-DLOZRUNUHOHDVH
2IILFHUV
IHHV
5HQWDOLQFRPHRWKHU
6DOHRIVXUSOXVSURSHUW\
6DOHVRIPDSV;HUR[FRSLHVDQG]RQLQJDGYHUWLVHPHQWV
6RFLDO6HUYLFHVIHHV
6WDWHFRQILQHPHQW
2WKHUIHHV
7RWDO
2012
Actual
Variance
Over/Under
Actual
Investment Earnings
Miscellaneous Revenues:
&RPPLVVLRQSD\WHOHSKRQHV
'RQDWLRQV
,QVXUDQFHUHIXQGV
3ODQQLQJ
6KHULII
2WKHUPLVFHOODQHRXVUHYHQXH
7RWDO
7RWDOUHYHQXHV
75
Schedule 4
Page 3 of 17
GENERAL FUND
2013
Final
Budget
Expenditures:
General Government:
Governing Board:
6DODULHVDQGEHQHILWV
2SHUDWLQJH[SHQGLWXUHV
7RWDO
2012
Actual
Variance
Over/Under
Actual
Administration:
6DODULHVDQGEHQHILWV
7RWDO
Human Resources:
6DODULHVDQGEHQHILWV
7RWDO
Finance:
6DODULHVDQGEHQHILWV
7RWDO
7RWDO
County Attorney:
6DODULHVDQGEHQHILWV
7RWDO
Elections:
6DODULHVDQGEHQHILWV
7RWDO
Register of Deeds:
6DODULHVDQGEHQHILWV
$XWRPDWLRQ)XQG
7RWDO
Tax Director:
6DODULHVDQGEHQHILWV
76
Schedule 4
Page 4 of 17
GENERAL FUND
2013
Final
Budget
Judicial Center Building:
6DODULHVDQGEHQHILWV
7RWDO
2012
Actual
Variance
Over/Under
Actual
Cooper Street Building:
&DSLWDORXWOD\
7RWDO
Permit and Health Building:
6DODULHV
7RWDO
Building and Grounds - County:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
Court Facilities - Shared:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
Agriculture Building:
&DSLWDORXWOD\
7RWDO
Health Department Building:
&DSLWDORXWOD\
7RWDO
Human Services Building - Mt. Airy:
6DODULHVDQGEHQHILWV
7RWDO
77
Schedule 4
Page 5 of 17
GENERAL FUND
2013
Final
Budget
Admin/Social Services Building:
6DODULHVDQGEHQHILWV
7RWDO
2012
Actual
Variance
Over/Under
Actual
Special Appropriations:
6XUU\&RXQW\$UWV&RXQFLO
)RRWKLOOV$UWV&RXQFLO
)ULHQGVRI<RXWK
$PHULFDQ5HG&URVV
0$:DU0HPRULDO
7RZQRI'REVRQ
0W$LU\$LUSRUW
6XUU\+RPHOHVVDQG$IIRUGDEOH+RXVLQJ
+RVSLFH&DSLWDO&DPSDLJQ
<RNHIHOORZ&RRSHUDWLYH
7UL&RXQW\0LQLVWULHV
6HDPV0LQLVWULHV
$UPILHOG5HFUHDWLRQ&HQWHU
)RRWKLOOV)RRG3DQWU\
3LORW0RXQWDLQ3ULGH
9HWHUDQ
V3DUN6HZHU
&KLOGUHQ
V&HQWHURI6XUU\
6XUU\7KXQGHU%DVHEDOO
7RZQRI(ONLQ7HQQLV&RXUW
7RWDO
Non-Departmental Expenditures:
,QVXUDQFHDQGERQGLQJ
7RWDO
Central Services:
7RWDO
Management Information Services:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
78
Schedule 4
Page 6 of 17
GENERAL FUND
2013
Final
Budget
Insurance:
&ODLPVFRVW
$GPLQLVWUDWLYHFRVW
&RXQW\SRUWLRQRIKHDOWKSUHPLXPVFKDUJHG
5HVHUYH
5HWLUHHLQVXUDQFH
7RWDO
2012
Actual
Variance
Over/Under
Actual
Dental/Visual:
5HLPEXUVHPHQWH[SHQGLWXUHV
7RWDO
Employee Programs:
7RWDO
Employee Wellness:
6DODULHVDQGEHQHILWV
7RWDO
Workers' Compensation:
6DODULHVDQGEHQHILWV
7RWDO
7RWDOJHQHUDOJRYHUQPHQW
Public Safety:
Sheriff's Department:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
Justice Assistance Grant:
7RWDO
79
Schedule 4
Page 7 of 17
GENERAL FUND
2013
Final
Budget
Criminal Justice Partnership:
3URIHVVLRQDOVHUYLFHV
7RWDO
2012
Actual
Variance
Over/Under
Actual
Pre-Trial Release:
Sheriff - Special:
/HY\
'DUH
6SHFLDO
7RWDO
Sheriff - Narcotics:
&DSLWDORXWOD\
7RWDO
School Resource Officer:
6DODULHVDQGEHQHILWV
7RWDO
County Jail:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
Fire and Rescue:
$QQXDODSSURSULDWLRQ
7RWDO
Prime Movers Grant:
7RWDO
80
Schedule 4
Page 8 of 17
GENERAL FUND
2013
Final
Budget
Inspections:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
2012
Actual
Variance
Over/Under
Actual
Communications Center:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
Emergency Management:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
HLS Exercise Program Grant:
7RWDO
Fire Marshal:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
Medical Examiner:
6DODULHVDQGEHQHILWV
7RWDO
Emergency Medical Services:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
81
Schedule 4
Page 9 of 17
GENERAL FUND
2013
Final
Budget
Convalescent Services:
6DODULHVDQGEHQHILWV
7RWDO
2012
Actual
Variance
Over/Under
Actual
Animal Control:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
HMEP Planning Grant:
7RWDO
Generator Grant:
&DSLWDORXWOD\
7RWDO
NCEM Training Grant:
7RWDO
7RWDOSXEOLFVDIHW\
Human Services:
Health Department Administration:
6DODULHVDQGEHQHILWV
7RWDO
Health Lab:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
Access II - Health:
6DODULHVDQGEHQHILWV
7RWDO
82
Schedule 4
Page 10 of 17
GENERAL FUND
2013
Final
Budget
Communicable Disease:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
2012
Actual
Variance
Over/Under
Actual
Lazarus Project:
6DODULHVDQGEHQHILWV
7RWDO
Adult Primary Care:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
School Based Health Center:
6DODULHVDQGEHQHILWV
7RWDO
Community Alternative Program:
6DODULHVDQGEHQHILWV
7RWDO
Home Health Grant Program:
6DODULHVDQGEHQHILWV
7RWDO
Health Innovative Approaches:
6DODULHVDQGEHQHILWV
7RWDO
Home Health:
6DODULHVDQGEHQHILWV
7RWDO
83
Schedule 4
Page 11 of 17
GENERAL FUND
2013
Final
Budget
Cancer Control Program:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
2012
Actual
Variance
Over/Under
Actual
Pregnancy Care Management:
6DODULHVDQGEHQHILWV
7RWDO
Maternal Health Program:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
Child Health Program:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
Family Planning Program:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
Women, Infants, and Children
Supplemental Food Program:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
Immunization Action Plan:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
84
Schedule 4
Page 12 of 17
GENERAL FUND
2013
Final
Budget
Child Services:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
2012
Actual
Variance
Over/Under
Actual
Environmental Health:
6DODULHVDQGEHQHILWV
7RWDO
Bioterrorism Grant:
6DODULHVDQGEHQHILWV
7RWDO
Health and Wellness Trust:
6DODULHVDQGEHQHILWV
7RWDO
Health Promotion:
6DODULHVDQGEHQHILWV
7RWDO
Dental Clinic:
&DSLWDORXWOD\
7RWDO
Migrant Farmworker Grant:
6DODULHVDQGEHQHILWV
7RWDO
Healthy Carolinians:
6DODULHVDQGEHQHILWV
7RWDO
85
Schedule 4
Page 13 of 17
GENERAL FUND
2013
Final
Budget
Mental Health Authority:
$QQXDODSSURSULDWLRQ
7RWDO
2012
Actual
Variance
Over/Under
Actual
Social Services Administration:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
Social Services Programs:
6DODULHVDQGEHQHILWV
&RQWUDFWHGGD\FDUHVHUYLFHV
&RQWUDFWVJUDQWVDQGVXEVLGLHV
7RWDO
Local Assistance:
6DODULHVDQGEHQHILWV
&RQWUDFWVJUDQWVDQGVXEVLGLHV
7RWDO
Public Assistance:
7RWDO
Homeless Prevention Grant:
6DODULHVDQGEHQHILWV
7RWDO
Rapid Re-Housing Grant:
7RWDO
Child Support - Title IV-D:
6DODULHVDQGEHQHILWV
7RWDO
86
Schedule 4
Page 14 of 17
GENERAL FUND
2013
Final
Budget
Public Assistance Administration:
6DODULHVDQGEHQHILWV
7RWDO
2012
Actual
Variance
Over/Under
Actual
Veterans' Service Office:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
Surry County Community Action:
$QQXDODSSURSULDWLRQ
7RWDO
7RWDOKXPDQVHUYLFHV
Economic and Physical Development:
Lovill Creek:
/RYLOO
V&UHHN3URMHFW
/HYHH5LYHU3URMHFW
7RWDO
Planning and Development:
6DODULHVDQGEHQHILWV
7RWDO
Road Signs Project:
7RWDO
Economic Development:
:DWHUDQGVHZHU
&DSLWDORXWOD\
7RWDO
Economic Development Tourism:
6DODULHVDQGEHQHILWV
7RWDO
87
Schedule 4
Page 15 of 17
GENERAL FUND
2013
Final
Budget
Regional Tourism:
6DODULHVDQGEHQHILWV
7RWDO
2012
Actual
Variance
Over/Under
Actual
Cooperative Extension:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
Economic Innovation Grant:
7RWDO
RBEG Grant:
7RWDO
Healthy Families:
6DODULHVDQGEHQHILWV
7RWDO
SHIIP Grant:
7RWDO
Agriculture Cost Share Program:
6DODULHVDQGEHQHILWV
7RWDO
Natural Resources Conservation Service:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
Saddle Mountain Grant:
7RWDO
88
Schedule 4
Page 16 of 17
GENERAL FUND
2013
Final
Budget
Horne Creek:
7RWDO
2012
Actual
Variance
Over/Under
Actual
Cundiff Creek Stream Restoration Grant:
&RQWUDFWHGVHUYLFHV
7RWDO
Home (HUD) Program:
+RPHUHKDELOLWDWLRQH[SHQGLWXUHV
7RWDO
7RWDOHFRQRPLFDQGSK\VLFDOGHYHORSPHQW
Cultural and Recreation:
Library:
$QQXDODSSURSULDWLRQ
7RWDO
Recreation:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
*UDQWVVXEVLGLHVDOORFDWLRQVDQGFRQWUDFWV
3ULRUSURMHFWVUHVHUYH
7RWDO
Scenic Bikeway Grant:
7RWDO
Fisher River Park:
6DODULHVDQGEHQHILWV
&DSLWDORXWOD\
7RWDO
Adopt-A-Trail Grant:
7RWDO
7RWDOFXOWXUDODQGUHFUHDWLRQ
89
Schedule 4
Page 17 of 17
GENERAL FUND
2013
Final
Budget
Education:
Public Schools - Current Expenditures:
0RXQW$LU\&LW\6FKRROVSHUFDSLWD
(ONLQ&LW\6FKRROVSHUFDSLWD
6XUU\&RXQW\6FKRROVSHUFDSLWD
&KDUWHUVFKRROUHVHUYH
&RPPXQLW\FROOHJH
7RWDOHGXFDWLRQ
2012
Actual
Variance
Over/Under
Actual
Debt Service:
3ULQFLSDOUHWLUHPHQW
,QWHUHVWDQGIHHV
7RWDOGHEWVHUYLFH
7RWDOH[SHQGLWXUHV
7UDQVIHUVLQRXW
)URP6FKRRO&DSLWDO2XWOD\)XQG
7R/DQGILOO)XQG
7R,QWHUVWDWHV:DWHUDQG6HZHU)XQG
7R'REVRQ:DWHUDQG6HZHU)XQG
7R(ONLQ$UHD:DWHUDQG6HZHU)XQG
7R)ODWURFN%DQQHUWRZQ)XQG
7R5HYDOXDWLRQ)XQG
)URP6FKRRO&DSLWDO2XWOD\)XQG
7R&RXQW\%XLOGLQJV&DSLWDO3URMHFW)XQG
7RWDOWUDQVIHUVLQRXW
&DSLWDOOHDVHREOLJDWLRQVLVVXHG
$SSURSULDWHGIXQGEDODQFH
1HWFKDQJHLQIXQGEDODQFH
Fund Balance:
%HJLQQLQJRI\HDU-XO\
(QGRI\HDU-XQH
90
Schedule 5
SCHOOLS CAPITAL OUTLAY FUND
IN FUND BALANCE - BUDGET TO ACTUAL
2013
2012
Variance
Over/Under
Budget
Actual
Revenues:
/RFDORSWLRQVDOHVWD[$UWLFOH
/RFDORSWLRQVDOHVWD[$UWLFOH
7RWDO
,QYHVWPHQWHDUQLQJV
7RWDOUHYHQXHV
Expenditures:
(GXFDWLRQ
Actual
7UDQVIHUVLQRXW
7UDQVIHUVLQWUDIXQG
Fund Balance:
%HJLQQLQJRI\HDU-XO\
(QGRI\HDU-XQH
91
Schedule 6
REVALUATION FUND
IN FUND BALANCE - BUDGET AND ACTUAL
2013
2012
Budget
Actual
Variance
Over/Under
Expenditures:
6DODULHV
7RWDOH[SHQGLWXUHV
7UDQVIHUVLQWUDIXQG
Actual
Fund Balance:
%HJLQQLQJRI\HDU-XO\
(QGRI\HDU-XQH
92
OTHER MAJOR GOVERNMENTAL FUNDS
Schools Capital Project Fund DFFRXQWV IRU ORFDO IXQGV DQG ILQDQFLQJ SURFHHGV XVHG WR IXQG VFKRRO
FRQVWUXFWLRQSURMHFWV
County Buildings Capital Project Fund DFFRXQWV IRU IXQGV XVHG IRU WKH FRQVWUXFWLRQ RI &RXQW\
EXLOGLQJVLQWKH&RXQW\
Schedule 7
Page 1 of 2
SCHOOLS CAPITAL PROJECT FUND
SCHEDULE OF REVENUES AND EXPENDITURES BUDGET AND ACTUAL
FROM INCEPTION AND FOR THE YEAR ENDED JUNE 30, 2013
Actual
Project
Authorization
Prior
Years
Current
Year
Total
to Date
Revenues:
0W$LU\+LJK&DIp&RPPRQV3URMHFW
3XEOLF6FKRRO&DSLWDO%XLOGLQJ)XQG
(ONLQ+LJK6FKRRO3KDVH3URMHFW
0W$LU\+LJK)LQDO3KDVH3URMHFW
:KLWH3ODLQV5RRI3URMHFW
(DVW'LVWULFW0LGGOH6FKRRO3URMHFW
,QYHVWPHQWHDUQLQJV
7RWDOUHYHQXHV
Expenditures:
0RXQW$LU\+LJK6FKRRO)LQDO3KDVH
$UFKLWHFWIHHV
3URMHFWFRQVWUXFWLRQ
7HFKQRORJ\HTXLSPHQWDQGIXUQLWXUH
7RWDOSURMHFWH[SHQGLWXUHV
3URMHFWFRQVWUXFWLRQ
&RQWLQJHQF\
3URMHFWFRQVWUXFWLRQ
&RQWLQJHQF\
93
Schedule 7
Page 2 of 2
SCHOOLS CAPITAL PROJECT FUND
Actual
Project
Authorization
Prior
Years
3URMHFWFRQVWUXFWLRQ
/DQGDQGULJKWRIZD\
&RQWLQJHQF\
:KLWH3ODLQV(OHPHQWDU\
3URMHFWFRQVWUXFWLRQ
7RWDOH[SHQGLWXUHV
0W$LU\+LJK)LQDO3KDVH
3URFHHGVRILQVWDOOPHQWILQDQFLQJ
(ONLQ+LJK3KDVH3URMHFW
(ONLQ+LJK3KDVH3URMHFW
Current
Year
Total
to Date
94
Schedule 8
COUNTY BUILDINGS CAPITAL PROJECT FUND
Actual
Project
Authorization
Prior
Years
Revenues:
,QYHVWPHQWHDUQLQJV
/RFDOFRQWULEXWLRQ
*UDQWLQFRPH
7RWDOUHYHQXHV
Expenditures:
*XDUDQWHHG(QHUJ\6DYLQJV3URMHFW
3URMHFWFRQVWUXFWLRQ
&RG\&UHHN:DWHUDQG6HZHU
3URMHFWFRQVWUXFWLRQ
&RQWLQJHQF\
7RWDOH[SHQGLWXUHV
2SHUDWLQJWUDQVIHUVLQRXW
&RG\&UHHN3URMHFW
7UDQVIHUIURP*HQHUDO)XQG
)LQDQFLQJLVVXHG
95
Current
Year
Total
to Date
NONMAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS
6SHFLDO5HYHQXH)XQGVDFFRXQWIRUWKHSURFHHGVRIVSHFLDOUHYHQXHVRXUFHVWKDWDUHOHJDOO\UHVWULFWHGWR
H[SHQGLWXUHVIRUVSHFLILFSXUSRVHV
Individual Fund Descriptions:
Fire Districts FundDFFRXQWVIRUWKHUHYHQXHVRIWKHILIWHHQILUHGLVWULFWVLQWKH&RXQW\
School Districts FundDFFRXQWVIRUWKHUHYHQXHVRIWKHWZRVFKRROGLVWULFWVLQWKH&RXQW\
Emergency Telephone 911 FundDFFRXQWVIRUWKHUHYHQXHVRIVXEVFULEHUFKDUJHVLQWKH&RXQW\
Grants Project FundDFFRXQWVIRUWKHUHYHQXHVUHFHLYHGIRUWKH&RPPXQLW\'HYHORSPHQW%ORFN*UDQW
Schedule 9
SPECIAL REVENUE FUNDS - NONMAJOR FUNDS
COMBINING BALANCE SHEET
JUNE 30, 2013
Nonmajor
Fire
Districts
Fund
School
Districts
Fund
Emergency
Telephone
911
Fund
Assets:
&DVKDQGLQYHVWPHQWV
$FFRXQWVUHFHLYDEOH
'XHIURPRWKHUJRYHUQPHQWV
7D[HVUHFHLYDEOHQHWRIDOORZDQFHV
7RWDODVVHWV
Liabilities , Deferred Inflows of Resources,
and Fund Balances:
Liabilities:
$FFRXQWVSD\DEOH
'XHWRRWKHUIXQGV
7RWDOOLDELOLWLHV
3URSHUW\WD[HVUHFHLYDEOH
3UHSDLGWD[HV
7RWDOGHIHUUHGLQIORZVRIUHVRXUFHV
Fund Balances:
5HVWULFWHG
6WDELOL]DWLRQE\6WDWHVWDWXWH
3XEOLFVDIHW\
8QDVVLJQHG
7RWDOIXQGEDODQFHV
7RWDOOLDELOLWLHVGHIHUUHGLQIORZVRI
UHVRXUFHVDQGIXQGEDODQFH
96
Grants
Project
Fund
Total
June 30, 2013
Schedule 10
SPECIAL REVENUE FUNDS - NONMAJOR FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
Nonmajor
Fire
Districts
Fund
School
Districts
Fund
Emergency
Telephone
911
Fund
Revenues:
$GYDORUHPWD[HV
6DOHVVHUYLFHVDQGUHQWV
,QYHVWPHQWHDUQLQJV
7RWDOUHYHQXHV
Expenditures:
3XEOLFVDIHW\
(GXFDWLRQ
(FRQRPLFGHYHORSPHQW
7RWDOH[SHQGLWXUHV
1HWFKDQJHLQIXQGEDODQFHV
Fund Balances:
%HJLQQLQJRI\HDU-XO\
(QGRI\HDU-XQH
97
Grants
Project
Fund
Total
June 30, 2013
Schedule 11
FIRE DISTRICTS FUND
2013
2012
Variance
Over/Under
Budget
Actual
Revenues:
$GYDORUHPWD[HV
&XUUHQW\HDU
3ULRU\HDUV
7RWDOUHYHQXHV
Expenditures:
3XEOLFVDIHW\
Actual
Fund Balance:
%HJLQQLQJRI\HDU-XO\
(QGRI\HDU-XQH
98
Schedule 12
SCHOOL DISTRICTS FUND
2013
2012
Variance
Over/Under
Budget
Actual
Revenues:
$GYDORUHPWD[HV
&XUUHQW\HDU
3ULRU\HDUV
7RWDOUHYHQXHV
Expenditures:
(GXFDWLRQ
Actual
Fund Balance:
%HJLQQLQJRI\HDU-XO\
(QGRI\HDU-XQH
99
Schedule 13
EMERGENCY TELEPHONE 911 FUND
2013
2012
Budget
Actual
Variance
Over/Under
Revenues:
6DOHVVHUYLFHVDQGUHQWV
6XEVFULEHUFKDUJHV
,QYHVWPHQWHDUQLQJV
7RWDOUHYHQXHV
Expenditures:
3XEOLFVDIHW\
Actual
Fund Balance:
%HJLQQLQJRI\HDU-XO\
(QGRI\HDU-XQH
100
Schedule 14
GRANTS PROJECT FUND
Actual
Project
Authorization
Prior
Years
Current
Year
Total
to Date
Revenues:
5HVWULFWHGLQWHUJRYHUQPHQWDOUHYHQXH
7RWDOUHYHQXHV
Expenditures:
$GPLQLVWUDWLYHFRVWV
7RWDOH[SHQGLWXUHV
101
ENTERPRISE FUNDS
(QWHUSULVH )XQGV DFFRXQW IRU RSHUDWLRQV WKDW DUH ILQDQFHG DQG RSHUDWHG LQ D PDQQHU VLPLODU WR SULYDWH
EXVLQHVV HQWHUSULVHV ZKHUH WKH LQWHQW RI WKH JRYHUQLQJ ERG\ LV WKDW WKH FRVWV RI SURYLGLQJ JRRGV DQG
VHUYLFHV WR WKH JHQHUDO SXEOLF RQ D FRQWLQXLQJ EDVLV EH ILQDQFHG RU UHFRYHUHG SULPDULO\ WKURXJK XVHU
FKDUJHV RU ZKHUH WKH JRYHUQLQJ ERG\ KDV GHFLGHG WKDW SHULRGLF GHWHUPLQDWLRQ RI QHW LQFRPH LV
DSSURSULDWHIRUDFFRXQWDELOLW\SXUSRVHV
Landfill FundDFFRXQWVIRUWKHRSHUDWLRQVRIWKH&RXQW\¶VVROLGZDVWHDFWLYLWLHV
Flat Rock/Bannertown Water and Sewer DistrictDFFRXQWVIRUZDWHUDQGVHZHUDFWLYLWLHVLQ)ODW5RFN
DQGWKHVXUURXQGLQJDUHD
Flat Rock/Bannertown Capital Project Fund LVFRQVROLGDWHGZLWKWKH)ODW5RFN%DQQHUWRZQ:DWHUDQG
6HZHU'LVWULFWWKHRSHUDWLQJIXQGIRUILQDQFLDOUHSRUWLQJSXUSRVHV
Interstates Water and Sewer DistrictDFFRXQWVIRUZDWHUDQGVHZHUDFWLYLWLHV
Interstates Water and Sewer District Capital Project FundLVFRQVROLGDWHGZLWKWKH,QWHUVWDWHV:DWHU
DQG6HZHU'LVWULFWWKHRSHUDWLQJIXQGIRUILQDQFLDOUHSRUWLQJSXUSRVHV
Dobson Area Water and Sewer Fund DFFRXQWV IRU ZDWHU DQG VHZHU DFWLYLWLHV LQ 'REVRQ DQG WKH
VXUURXQGLQJDUHD
Elkin Area Water and Sewer Fund DFFRXQWVIRUZDWHUDQGVHZHUDFWLYLWLHVLQWKH*HQWU\5RDG$UHDRI
(ONLQ
Schedule 15
Page 1 of 2
LANDFILL FUND - MAJOR FUND
SCHEDULE OF REVENUES AND EXPENDITURES BUDGET AND ACTUAL (NON-GAAP)
2013
2012
Budget
Actual
Variance
Over/Under
Revenues:
2SHUDWLQJUHYHQXHV
&KDUJHVIRUVHUYLFHV
6ROLGZDVWHFKDUJHV
5HF\FOLQJ
/DQGILOOIHHV
:KLWHJRRGVDQGVFUDSWLUH
2WKHURSHUDWLQJUHYHQXHV
7RWDOUHYHQXHV
Expenditures:
/DQGILOOUHF\FOLQJ
/DQGILOOVDQLWDWLRQ
3ULQFLSDOUHWLUHPHQW
,QWHUHVWH[SHQVH
&DSLWDORXWOD\
7RWDOH[SHQGLWXUHV
7UDQVIHUVLQRXW
)URP*HQHUDO)XQG
5HYHQXHVDQGRWKHUILQDQFLQJVRXUFHVRYHU
XQGHUH[SHQGLWXUHVDQGRWKHUILQDQFLQJXVHV
102
Actual
Schedule 15
Page 2 of 2
LANDFILL FUND - MAJOR FUND
2013
Budget
Actual
2012
Variance
Over/Under
Actual
Reconciliation from Budgetary Basis
(Modified Accrual) to Full Accrual Basis:
5HFRQFLOLQJLWHPV
3ULQFLSDOUHWLUHPHQW
&DSLWDORXWOD\
'HSUHFLDWLRQ
2WKHUSRVWHPSOR\PHQWEHQHILWV
&KDQJHLQFRPSHQVDWHGDEVHQFHVSD\DEOH
&KDQJHLQDFFUXHGODQGILOO
FORVXUHDQGSRVWFORVXUHFDUHFRVWV
7RWDOUHFRQFLOLQJLWHPV
&KDQJHLQQHWSRVLWLRQ
103
Schedule 16
Page 1 of 2
FLAT ROCK / BANNERTOWN WATER AND SEWER DISTRICT - MAJOR FUND
2013
2012
Budget
Actual
Variance
Over/Under
7RWDOUHYHQXHV
Expenditures:
2SHUDWLQJH[SHQVHV
7RWDO
'HEWVHUYLFH
3ULQFLSDOUHWLUHPHQW
,QWHUHVWDQGRWKHUFKDUJHV
7RWDO
7RWDOH[SHQGLWXUHV
&RQWLQJHQF\
Revenues:
2SHUDWLQJUHYHQXHV
6HUYLFHFKDUJHV
7RWDORSHUDWLQJUHYHQXHV
1RQRSHUDWLQJUHYHQXHV
,QWHUHVWRQLQYHVWPHQWV
7RWDOQRQRSHUDWLQJUHYHQXHV
104
Actual
Schedule 16
Page 2 of 2
FLAT ROCK / BANNERTOWN WATER AND SEWER DISTRICT - MAJOR FUND
2013
Budget
Actual
2012
Variance
Over/Under
Actual
5HFRQFLOLQJLWHPV
3ULQFLSDOSD\PHQWV
'HSUHFLDWLRQ
&KDQJHLQQHWSRVLWLRQ
105
Schedule 17
INTERSTATES WATER AND SEWER DISTRICT - MAJOR FUND
2013
2012
Variance
Over/Under
Budget
Actual
Revenues:
2SHUDWLQJUHYHQXHV
&KDUJHVIRUVHUYLFHV
:DWHUVHUYLFH
7RWDOUHYHQXHV
7RWDOUHYHQXHV
Expenditures:
8WLOLWLHV
7RWDOH[SHQGLWXUHV
7UDQVIHUVLQ
)URP*HQHUDO)XQG
&RQWLQJHQF\
Actual
5HFRQFLOLQJLWHPV
/RFDOFRQWULEXWLRQ
'HSUHFLDWLRQ
&KDQJHLQQHWSRVLWLRQ
106
Schedule 18
INTERSTATES WATER AND SEWER DISTRICT CAPITAL PROJECT FUND
SCHEDULE OF REVENUES AND EXPENDITURES
BUDGET AND ACTUAL (NON-GAAP)
Actual
Project
Authorization
Prior
Year
Current
Year
Total
to Date
Revenues:
/RFDOFRQWULEXWLRQ
7RWDOUHYHQXHV
Expenditures:
6HZHU&ROOHFWLRQ6\VWHP3URMHFW
7RWDOH[SHQGLWXUHV
2SHUDWLQJWUDQVIHUVLQRXW
6HZHU&ROOHFWLRQ6\VWHP3URMHFW
107
Schedule 19
DOBSON AREA WATER AND SEWER FUND- MAJOR FUND
Budget
Actual
Variance
Over/Under
Revenues:
2SHUDWLQJUHYHQXHV
6HZHUVHUYLFH
:DWHUVHUYLFH
7RWDOUHYHQXHV
Expenditures:
&RQWUDFWHGVHUYLFHV
7RWDOH[SHQGLWXUHV
7UDQVIHUVLQRXW
)URP*HQHUDO)XQG
5HFRQFLOLQJLWHPV
'HSUHFLDWLRQ
&KDQJHLQQHWSRVLWLRQ
108
Schedule 20
ELKIN AREA WATER AND SEWER FUND
Budget
Actual
Variance
Over/Under
Revenues:
2SHUDWLQJUHYHQXHV
&KDUJHVIRUVHUYLFHV
:DWHUVHUYLFH
7RWDOUHYHQXHV
Expenditures:
6DODULHVDQGEHQHILWV
8WLOLWLHV
(TXLSPHQWPDLQWHQDQFH
7RWDOH[SHQGLWXUHV
7UDQVIHUVLQRXW
)URP*HQHUDO)XQG
&RQWLQJHQF\
5HFRQFLOLQJLWHPV
1RQFDVKFRQWULEXWLRQRIDVVHWV
'HSUHFLDWLRQ
&KDQJHLQQHWSRVLWLRQ
109
AGENCY FUNDS
$JHQF\ )XQGV DUH XVHG WR DFFRXQW IRU DVVHWV KHOG E\ WKH &RXQW\ DV DQ DJHQW IRU LQGLYLGXDOV SULYDWH
RUJDQL]DWLRQVRWKHUJRYHUQPHQWVDQGRURWKHUIXQGV
Agency Funds
Social Services Trust Fund DFFRXQWV IRU PRQLHV GHSRVLWHG ZLWK WKH 6RFLDO 6HUYLFHV
'HSDUWPHQWIRUWKHEHQHILWRIFHUWDLQLQGLYLGXDOVLQWKH&RXQW\
Jail Trust FundDFFRXQWVIRUPRQLHVKHOGIRULQPDWHV
Motor Vehicle Tax FundDFFRXQWVIRUWKHSURFHHGVRIWKHPRWRUYHKLFOHWD[HVWKDWDUHFROOHFWHGE\
WKH&RXQW\RQEHKDOIRIWKHPXQLFLSDOLWLHVZLWKLQWKH&RXQW\
State Solid Waste Disposal Tax Fund DFFRXQWV IRU WKH SHU WRQ WD[ LPSRVHG IRU ODQGILOO
GXPSLQJ
Regional Tourism Fund DFFRXQWV IRU WKH ,QLWLDWLYH IURP $OOHJKDQ\ &DUUROO *UD\VRQ 3DWULFN
6WRNHV6XUU\:LONHVDQG<DGNLQ&RXQWLHV
Miscellaneous Agency Funds DFFRXQWVIRUWKHIROORZLQJWKH)LQHVDQG)RUIHLWXUHV)XQGWKH&%$
0RQH\DQG(OGHUO\RU+DQGLFDS7UDQVSRUWDWLRQ$VVLVWDQFH)XQGVWKH)ORRGSODLQ0DSSLQJ)XQG
WKH'HSDUWPHQWRI&ULPH&RQWURODQG3XEOLF6DIHW\)XQGWKH0HQWDO+HDOWK±$%&)XQGWKH1&
'25+%)XQGWKH3$577UDQVSRUWDWLRQ7D[HV)XQGWKH'REVRQ=RQLQJ)XQGWKH6WDWH
7UHDVXUHU *HQHUDO )XQG WKH 'HSDUWPHQW RI &XOWXUDO 5HVRXUFHV )XQG WKH ([FLVH 7D[ RI 'HHGV
)XQGWKH'RPHVWLF9LROHQFH&HQWHU)XQGWKH&RQWUDFWRU3HUPLWV,QVSHFWLRQVIXQGWKH6WDWH)HHV
FRQFHDOHG+DQGJXQ3HUPLWV)HH)XQGWKH&HOO7RZHU/HDVH7RZQRI3LORW0RXQWDLQ)XQGDQG
WKH8+63UXLWW)XQG
Schedule 21
Page 1 of 2
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES AGENCY FUNDS
Balance
July 1, 2012
Additions
Deductions
Balance
June 30, 2013
Social Services:
Assets:
&DVKDQGLQYHVWPHQWV
Liabilities:
$FFRXQWVSD\DEOH
Jail:
Assets:
&DVKDQGLQYHVWPHQWV
Liabilities:
$FFRXQWVSD\DEOH
Motor Vehicle Tax:
Assets:
&DVKDQGLQYHVWPHQWV
Liabilities:
,QWHUJRYHUQPHQWDOSD\DEOH
Solid Waste Disposal Tax:
Assets:
&DVKDQGLQYHVWPHQWV
Liabilities:
Regional Tourism:
Assets:
&DVKDQGLQYHVWPHQWV
Liabilities:
$FFRXQWVSD\DEOH
Miscellaneous Agency Funds:
Assets:
&DVKDQGLQYHVWPHQWV
$FFRXQWVUHFHLYDEOH
7RWDODVVHWV
Liabilities:
$FFRXQWVSD\DEOH
110
Schedule 21
Page 2 of 2
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES AGENCY FUNDS
Balance
July 1, 2012
Additions
Deductions
Balance
June 30, 2013
Totals - All Agency Funds:
Assets:
&DVKDQGLQYHVWPHQWV
$FFRXQWVUHFHLYDEOH
7RWDODVVHWV
Liabilities:
$FFRXQWVSD\DEOH
7RWDOOLDELOLWLHV
111
SUPPLEMENTAL FINANCIAL DATA
7KLVVHFWLRQFRQWDLQVDGGLWLRQDOLQIRUPDWLRQRQWD[HVUHFHLYDEOHDQGWKHWD[OHY\DVRIDQGIRUWKH\HDU
HQGHG-XQH
Schedule 22
SCHEDULE OF AD VALOREM TAXES RECEIVABLE - GENERAL FUND
JUNE 30, 2013
Fiscal Year
7RWDO
Uncollected
Balance
July 1, 2012
Additions
Collections
and Credits
Uncollected
Balance
June 30, 2013
/HVV$OORZDQFHIRUXQFROOHFWLEOHDFFRXQWV*HQHUDO)XQG
$GYDORUHPWD[HVUHFHLYDEOHQHW
Reconciliation with Revenues:
7D[HVDGYDORUHP
5HFRQFLOLQJLWHPV
,QWHUHVWDQGFRPPLVVLRQFROOHFWHG
7D[HVZULWWHQRII
5HIXQGV
'LVFRXQWVDOORZHG
0LVFHOODQHRXV
7RWDOFROOHFWLRQVDQGFUHGLWV
$FFRUGLQJWR6WDWH6WDWXWHD/LPLWDWLRQ2Q8VHRI5HPHGLHVQRFRXQW\PD\PDLQWDLQDQDFWLRQ
WRHQIRUFHFROOHFWLRQRIWD[HVXQOHVVLWLVLQVWLWXWHGZLWKLQ\HDUVIURPWKHGDWHWKHWD[HVEHFDPHGXH
7KLVLVQRWDSSOLFDEOHWRVSHFLDODVVHVVPHQWVZKLFKDUHLQFOXGHGDERYH
112
Schedule 23
ANALYSIS OF CURRENT TAX LEVY
Total Levy
Amount
of Levy
Property
Excluding
Registered
Motor
Vehicles
Registered
Motor
Vehicles
County-Wide
Property
Valuation
Rate
Original Levy:
3URSHUW\WD[HGDWFXUUHQW\HDU
VUDWH
0RWRUYHKLFOHVWD[HGDWFXUUHQW\HDU
VUDWH
0RWRUYHKLFOHVWD[HGDWSULRU\HDU
VUDWH
3HQDOWLHV
7RWDO
Discoveries:
&XUUHQW\HDUWD[HV
3ULRU\HDUWD[HV
3HQDOWLHV
7RWDO
Abatements
7RWDOSURSHUW\YDOXDWLRQ
Net Levy
8QFROOHFWHGWD[HVDW-XQH
Current Year's Taxes Collected
Current Levy Collection Percentage
113
Schedule 24
ANALYSIS OF CURRENT TAX LEVY
COUNTY-WIDE LEVY
Secondary Market Disclosures:
Assessed Valuation:
$VVHVVPHQWUDWLR
5HDOSURSHUW\
3HUVRQDOSURSHUW\
3XEOLFVHUYLFHFRPSDQLHV
7RWDODVVHVVHGYDOXDWLRQ
7D[UDWHSHU
/HY\LQFOXGHVGLVFRYHULHVUHOHDVHVDQGDEDWHPHQWV
,QDGGLWLRQWRWKH&RXQW\ZLGHUDWHWKHIROORZLQJWDEOHOLVWVWKHOHYLHVE\WKH
&RXQW\RQEHKDOIRIVFKRROGLVWULFWVDQGILUHSURWHFWLRQGLVWULFWVIRUWKHILVFDO
\HDUHQGHG-XQH
6FKRROGLVWULFWV
)LUHSURWHFWLRQGLVWULFWV
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114
STATISTICAL SECTION
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STATISTICAL SECTION
This part of the County of Surry's comprehensive annual financial report
presents detailed information as a context for understanding what the
information in the financial statements, note disclosures, and required supplementary information says about the government's overall financial health.
Financial Trends
These schedules contain trend information to help the reader understand how
Surry County's financial performance and well-being have changed over time.
Net Position by Component
Changes in Net Position
Fund Balances of Governmental Funds
Changes in Fund Balances of Governmental Funds
Governmental Revenues by Source
Governmental Expenditures by Function
Governmental Activities Tax Revenue by Source
Revenue Capacity
These schedules contain information to help the reader assess Surry County's
most significant local revenue source, the property tax.
Property Tax Levies and Collections
Property Tax Rates-County and Municipalities
Property Tax Rates-Fire Districts
Assessed Value and Estimated Actual Value of Taxable Property
Principal Property Taxpayers
Debt Capacity
These schedules present information to help the reader assess the affordability of
Surry County's current levels of outstanding debt and the government's ability to
issue additional debt in the future.
Ratios of Outstanding Debt by Type
Ratios of General Bonded Debt Outstanding
Legal Debt Margin Information
Direct and Overlapping Governmental Activities Debt
Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader
understand the environment within which Surry County's financial activities take place.
Principal Employers
Demographic & Economic Statistics
Operating Information
These schedules contain service and infrastructure data to help the reader
understand how the information in Surry County's financial report relates to the
services the County provides and the activities performed.
Full-time Equivalent County Government Employees by Function
Operating Indicators by Function
Capital Asset Statistics
COUNTY OF SURRY
Table 1
continued
Last Ten Fiscal Years
(accrual basis of accounting)
.
Fiscal Year
2005
2006
2004
Governmental activities
Restricted
Unrestricted
Total government activities net position
2007
$12,334,233 $25,524,080 $25,985,981 $29,228,820
1,803,345
3,744,870
2,025,775
1,855,144
8,198,096
2,628,902
12,705,118
18,701,288
$22,335,674 $31,897,852 $40,716,874 $49,785,252
Business-type activities
Restricted
Unrestricted
Total business-type activities net position
$3,464,727
132,116
$3,596,843
Primary government
Restricted
Unrestricted
Total primary government net position
$3,194,524
730,689
$3,925,213
$3,617,153
488,845
$4,105,998
$7,778,581
205,476
$7,984,057
$15,798,960 $28,718,604 $29,603,134 $37,007,401
1,803,345
3,744,870
2,025,775
1,855,144
8,330,212
3,359,591
13,193,963
18,906,764
$25,932,517 $35,823,065 $44,822,872 $57,769,309
$80,000,000
$60,000,000
$40,000,000
$20,000,000
$0
($20,000,000)
Fiscal Year
Restricted
115
Unrestricted
Table 1
2008
2009
Fiscal Year
2010
2011
2012
2013
$37,216,970 $40,706,489 $44,052,428 $45,132,203 $42,472,931 $45,246,112
2,222,420
2,841,311
3,495,627
12,721,360
11,148,800
13,084,684
18,419,501
15,894,302
11,398,775
(1,236,421)
3,942,069
7,846,478
$57,858,891 $59,442,102 $58,946,830 $56,617,142 $57,563,800 $66,177,274
$8,584,304
(144,081)
$8,440,223
$9,505,947 $11,456,558 $12,843,191 $13,072,772 $13,635,352
(358,483)
(556,517)
(620,276)
(983,413)
(977,020)
$9,147,464 $10,900,041 $12,222,915 $12,089,359 $12,658,332
$45,801,274 $50,212,436 $55,508,986 $57,975,394 $55,545,703 $58,881,464
2,222,420
2,841,311
3,495,627
12,721,360
11,148,800
13,084,684
18,275,420
15,535,819
10,842,258
(1,856,697)
2,958,656
6,869,458
$66,299,114 $68,589,566 $69,846,871 $68,840,057 $69,653,159 $78,835,606
116
COUNTY OF SURRY
Table 2
continued
Changes in Net Position
2004
Fiscal Year
2005
2006
2007
Expenses:
Governmental activities:
General government
Public Safety
Economic and Physical Development
Human Services
Culture and Recreation
Education
Interest and fees
Total governmental activities expenses
$6,821,254
12,088,680
2,628,161
19,277,785
748,848
14,930,153
1,820,534
58,315,414
$6,929,943
12,610,350
3,613,159
20,956,650
826,114
16,334,119
1,738,898
63,009,234
$7,055,732
13,180,555
3,000,847
22,216,013
856,094
17,533,331
1,669,535
65,512,107
$7,959,483
14,648,438
3,288,054
23,519,452
810,155
18,207,040
1,801,924
70,234,546
Business-Type activities:
Landfill
Water & Sewer
Total business-type activities expenses
2,480,342
7,884
2,488,226
2,542,374
26,381
2,568,755
2,872,720
88,181
2,960,901
2,851,625
433,101
3,284,726
60,803,640
65,577,989
68,473,008
73,519,272
10,358,839
9,387,513
542,835
12,180,935
10,803,917
555,272
12,807,165
10,270,344
281,568
12,757,657
12,489,494
52,989
29,806,702
14,285,313
32,234,886
15,890,606
32,949,430
16,426,387
33,954,300
17,922,949
246,271
242,967
64,870,440
253,886
651,908
72,571,410
254,263
1,341,972
74,331,129
262,935
1,962,599
79,402,923
2,674,530
95,490
11,011
2,781,031
2,590,927
290,301
15,897
2,897,125
2,982,640
124,706
34,341
3,141,687
3,021,254
3,909,096
67,651,471
75,468,535
77,472,816
86,333,273
Net (expense)/revenue
Governmental activities
Business-type activities
Transfers
6,555,026
292,805
-
9,562,176
328,370
-
8,819,022
180,786
-
9,168,377
3,645,624
132,430
Total primary government net expense
6,847,831
9,890,546
8,999,808
12,946,431
Total primary government expenses
Program Revenues
Governmental activities:
Operating grants and contributions
Capital grants and contributions
General Revenues:
Property taxes
Grants and contributions not restricted
to specific programs
Other
Total governmental activities program revenues
Business-type activities:
Operating grants and contributions
Other
Total business-type activities program revenues
Total primary government program revenues
Net Position, July 1 Governmental activities
Net Position, July 1 Business-type activities
Total primary government, June 30
6,930,350
15,780,648 22,335,676 31,897,852 40,716,875
3,304,038
3,596,843
3,925,212
4,106,003
$25,932,517 $35,823,065 $44,822,872 $57,769,309
117
Table 2
2008
2009
Fiscal Year
2010
2011
2012
$11,972,477 $12,318,096 $16,525,913 $10,114,099 $10,964,428
15,598,207 16,078,616 12,567,506 17,226,325 17,735,735
3,756,965
2,943,367
3,259,222
2,852,183
2,756,635
21,074,925 22,593,199 21,579,611 22,355,787 21,736,284
1,280,912
472,404
470,276
1,025,566
992,421
19,619,304 21,713,432 26,735,579 23,075,046 21,248,856
1,591,855
1,351,438
1,352,296
2,143,399
2,322,521
74,894,645 77,470,552 82,490,403 78,792,405 77,756,880
2013
$9,024,289
18,059,204
2,478,965
18,844,398
1,008,006
18,520,559
2,189,455
70,124,876
3,524,275
214,449
3,738,724
2,813,151
485,425
3,298,576
2,614,189
421,190
3,035,379
2,500,445
707,804
3,208,249
2,724,372
666,127
3,390,499
2,551,128
687,839
3,238,967
78,633,369
80,769,128
85,525,782
82,000,654
81,147,379
73,363,843
12,172,428
13,346,430
2,296,176
11,791,045
11,863,076
2,692,096
15,383,919
13,568,895
4,023,446
12,256,227
13,897,580
1,297,334
11,712,491
15,530,751
132,583
12,961,001
14,075,045
421,307
34,567,691
18,262,273
35,084,160
17,008,697
34,833,183
14,612,792
34,759,655
13,960,156
34,883,475
15,123,965
35,310,493
15,177,406
583,284
1,740,002
82,968,284
570,869
1,257,322
80,267,265
397,689
548,224
83,368,148
1,354,204
373,819
77,898,975
1,459,490
362,324
79,205,079
1,373,206
354,970
79,673,428
3,191,655
929,163
4,120,818
2,526,449
242,440
23,426
2,792,315
3,000,041
414,517
361
3,414,919
2,474,613
620,084
167
3,094,864
2,511,929
243,410
63
2,755,402
2,747,186
125,635
41
2,872,862
87,089,102
83,059,580
86,783,067
80,993,839
81,960,481
82,546,290
8,073,639
382,094
74,072
2,796,713
(506,261)
-
8,529,805
2,290,452
877,745
379,540
-
(893,430)
(113,385)
-
1,257,285
(1,006,815)
1,448,199
(635,097)
-
9,548,552
(366,105)
-
813,102
9,182,447
49,785,252 57,858,891 59,442,102 58,946,833 56,617,142 57,563,800
7,984,057
8,440,223
9,147,484 10,900,039 12,222,915 12,089,359
$66,299,114 $68,589,566 $69,846,871 $68,840,057 $69,653,159 $78,835,606
118
COUNTY OF SURRY, NORTH CAROLINA
Table 3
Continued
Fund Balances of Government Funds (1)
(modified accrual basis of accounting)
Fiscal Year
General Fund:
Fund Balance Reserved:
By State Statute
Register of Deeds Reserve
Debt Service
Health Department Reserve
Prepaids
Notes Receivable
Education
2004
2005
2006
2007
$4,249,390
4,716
483,145
1,315,484
$4,536,343
1,045
857,954
1,901,925
$4,272,936
107
1,232,988
792,670
$5,091,801
11,230
1,614,895
229,019
6,052,735
7,297,267
6,298,701
6,946,945
11,635,134
14,900,787
19,392,836
20,280,324
86,224
256,803
86,224
601,896
86,224
1,600,407
157,466
86,224
2,118,060
434,458
18,514,041
23,744,128
28,768,622
31,480,906
529,573
504,242
603,431
645,395
1,781,295
6,265,542
1,068,409
232,118
1,434,332
166,272
5,116,307
1,590,097
4,599,525
7,320,342
6,835,017
Total General Fund Reserved
Unreserved General Fund:
Available for Appropriation:
Designated for Health Emergencies
Designated for Employee Benefits/Insurance
Designated for Worker's Compensation
Nonspendable
Restricted
Committed
Assigned
Unassigned
Total General Fund
Other Governmental Funds
Fund Balance Restricted:
By State Statute
Home Grant Program Reserve
Unreserved Other Governmental Funds:
Special Revenue Funds
Capital Project Funds
Schools Capital Project
Available for Appropriation:
Designated for County Bldgs
Designated for College
Designated for Debt Service
Nonspendable
Restricted
Committed
Assigned
Unassigned
983,946
Total Other Governmental Funds
8,576,410
Total Governmental Fund Equity
2,788,715
$27,090,451 $26,532,843 $36,088,964 $38,315,923
Note: The change in the classifications of fund balance amounts in 2012 along with
substantial changes in fund balance are discussed in the Management's Discussion and Analysis
**Prior year amounts have not been restated for the implementation of Statement 54.
(1) Source: Audited annual financial reports of this entity.
119
Table 3
Fiscal Year
2008
2009
2010
$7,048,224
44,489
2,177,931
$4,694,297
25,594
2,765,381
50,336
72,552
340,020
$6,645,295
91,721
3,357,907
45,999
9,270,644
7,948,180
10,480,942
18,024,227
15,254,926
6,199,371
86,224
2,803,014
626,184
86,224
3,033,165
673,966
86,224
3,263,947
732,117
**2011
2012
2013
381,216
10,709,126
203,728
4,981,813
2,965,023
270,594
10,318,543
178,529
5,515,932
3,858,863
235,210
11,692,629
7,117,408
6,043,634
736,809
19,240,906
20,142,461
25,825,690
6,107,281
1,233,424
2,064,419
1,392,055
340,020
30,810,293
26,996,461
20,762,601
649,756
49,127
49,127
1,415,988
516,025
1,355,326
495,671
5,097,026
2,129,193
32,725
8,661,406
(1,456,434)
2,581,769
6,997,150
10,872,451
5,884,271
(13,868)
2,050,551
(1,410)
1,390,645
$33,392,062 $33,993,611 $31,635,052 $25,125,177 $22,193,012 $27,216,335
120
COUNTY OF SURRY
Table 4
Continued
Changes in Fund Balances of Governmental Funds (1)
(modified accrual basis of accounting)
Fiscal Year
2005
2006
2004
Revenues
Ad Valorem Taxes
Other Taxes-Local Option Sales Tax
Unrestricted Intergovernmental
Restricted Intergovernmental (2)
Licenses and Permits
Sales, Services and Rents
Local Contribution
Investment Earnings
Miscellaneous Revenues
2007
$30,197,879 $32,279,061 $32,998,560 $33,954,300
14,285,313 15,890,606 16,426,387 17,922,949
246,271
253,886
254,263
262,935
9,903,055 11,289,279 10,552,416 11,699,142
911,559
849,128
941,960
879,589
9,090,926 10,739,908 11,180,631 11,878,068
242,967
477,880
Total revenues
651,908
591,441
1,341,972
684,783
1,962,599
843,341
$65,355,850 $72,545,217 $74,380,972 $79,402,923
Expenditures
General Government
Public Safety
Human Services
Economic and Physical Development
Education
Debt Service
Principal
Interest and fees
Capital Outlay
Total expenditures
$6,511,079
11,769,317
2,622,156
19,288,287
775,115
14,864,075
$6,747,599
13,306,483
20,924,677
3,636,321
834,232
16,333,828
$6,533,396
13,322,158
22,212,566
3,006,265
834,060
23,066,139
$7,021,376
13,955,709
23,410,115
3,278,286
785,202
17,973,282
4,219,774
1,820,534
3,648,172
4,373,163
1,739,944
5,581,387
4,609,304
1,674,173
1,241,823
5,337,839
1,801,924
9,194,138
$65,518,509 $73,477,634 $76,499,884 $82,757,871
Excess of revenues
Over (Under) expenditures
($162,659)
Other financing sources (uses)
Transfers-In
Transfers-(Out)
Bond Premiums
Proceeds of Installment Purchases
Proceeds of Refunding Bonds
Payments to Refunded Bond Escrow Agent
Proceeds of Capital Lease
Prior Period Adjustment
$3,556,466
(3,556,466)
($932,417) ($2,118,912) ($3,354,948)
$3,862,359
(3,862,359)
$3,664,895
(3,664,895)
$5,299,882
(5,399,882)
11,300,000
5,300,000
- $11,300,000
$5,200,000
9,574,000
Total Other Financing sources (uses)
$9,574,000
Net change in fund balances
$9,411,341
Fund Balance:
Beginning of Year, July 1
End of Year, June 30
$
($932,417)
$9,181,088
$1,845,052
$17,195,962 $26,607,306 $25,674,889 $34,855,976
26,607,306 25,674,889 34,855,976 36,701,028
Debt service as a percentage of noncapital
expenditures
9.763%
(1) Includes general, special revenue, and capital project funds.
(2) Includes State of NC School Building Fund and State School Bonds
(3) Source: Audited Annual Financial Reports of this entity.
121
9.004%
8.349%
9.706%
Table 4
2008
2009
$34,567,691 $35,084,160
18,262,273 17,008,697
583,284
570,869
14,499,204 13,497,060
915,905
703,950
11,214,032 11,087,095
Fiscal Year
2010
2011
2013
1,257,322
1,076,642
548,224
961,173
$34,759,655 $34,883,475 $35,310,493
13,960,156 15,123,965 15,177,406
1,354,204
1,459,490
1,373,206
14,334,929 13,598,018 13,690,650
617,052
644,773
829,352
11,284,352 11,067,718 12,131,649
613,345
373,819
362,324
354,970
601,463
2,065,316
805,702
$82,944,323 $80,285,795
$80,753,237
$77,898,975 $79,205,079 $79,673,428
1,740,002
1,161,932
$34,833,183
14,612,792
397,689
16,631,168
677,658
12,091,350
2012
$10,374,221
14,870,953
20,963,179
3,746,496
1,246,134
19,382,058
$8,950,981
15,091,630
22,135,605
2,903,162
409,536
21,357,232
$8,971,055
16,661,009
21,145,732
3,937,963
935,014
19,755,082
$8,998,008 $10,071,587
16,695,783 17,135,602
22,213,116 21,286,982
10,568,921
3,678,853
950,319
890,715
13,162,055 19,193,953
5,446,810
1,591,855
8,808,084
5,422,598
1,351,438
6,272,061
5,258,317
1,615,787
24,743,213
5,034,084
2,143,399
13,235,262
$86,429,790 $83,894,243 $103,023,172
5,682,631
2,322,521
1,773,344
$5,050,510
(6,264,012)
5,600,000
$5,460,209
(6,833,226)
263,491
20,865,902
8,145,000
(7,990,000)
6,663,087
2,105,312
1,967,409
$93,000,947 $82,036,188 $74,663,966
($3,485,467) ($3,608,448) ($22,269,935) ($15,101,972) ($2,831,109)
$7,222,820
(7,222,820)
$8,259,259
17,982,699
18,466,330
2,481,556
918,147
15,820,167
$2,693,022
(2,895,480)
$2,239,990
(2,341,042)
$5,009,462
$36,046
(160,336)
8,794,555
138,151
$
-
($3,485,467)
$4,386,498
$778,050
$36,701,028 $33,215,561
33,215,561 33,993,611
9.068%
8.727%
$19,911,376
($101,052)
$13,861
($2,358,559)
($6,509,875) ($2,932,161)
$5,023,323
$33,993,611
31,635,052
$31,635,052 $25,125,173 $22,193,012
25,125,173 22,193,012 27,216,335
8.781%
$8,592,097
8.998%
9.974%
122
12.062%
COUNTY OF SURRY
Table 5
Continued
Governmental Revenue By Source (1)
(modified basis of accounting)
Fiscal
Year
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Sales
and
Other Taxes
$14,285,313
15,890,606
16,426,387
17,922,949
18,262,273
17,008,697
14,612,792
13,960,156
15,123,965
15,177,406
Property
Tax
$30,197,879
32,279,061
32,998,560
33,954,300
34,567,691
35,084,160
34,833,183
34,759,655
34,883,475
35,310,493
Unrestricted
InterGovernmental
$246,271
253,886
254,263
262,935
583,284
570,869
397,689
1,354,204
1,459,490
1,373,206
Restricted
InterGovernmental (2)
$9,903,055
11,289,278
10,552,416
11,699,142
14,499,204
13,497,060
16,631,168
14,334,929
13,598,018
13,690,650
(1) Revenues shown here include all governmental fund type revenues.
(2) Includes State of NC School Building Fund and State School Bonds.
(3) Source: Audited Annual Financial reports for this entity.
2013 Governmental Revenue By Source
1%
1%
15%
44%
17%
19%
2%
Property Tax
Unrestricted Inter- Governmental
Licenses and Permits
Sales, Local Contribution
Miscellaneous Revenues
Sales and Other Taxes
Restricted Inter- Governmental (2)
Sales, Services and Rents
Investment Earnings
123
Licenses
and
Permits
$911,559
849,128
941,960
879,589
915,905
703,950
677,658
617,052
644,773
829,352
Table 5
Sales,
Services
and Rents
$9,090,926
10,740,364
11,180,631
11,878,068
11,214,032
11,087,095
12,091,350
11,284,352
11,067,718
12,131,649
Local
Contribution
$
613,345
-
Investment
Earnings
$242,967
651,908
684,783
1,962,599
1,740,002
1,257,322
548,224
373,819
362,324
354,970
Miscellaneous
Revenues
$477,880
591,442
1,341,972
843,341
1,161,932
1,076,642
961,173
601,463
2,065,316
805,702
124
Total
$65,355,850
72,545,673
74,380,972
79,402,923
82,944,323
80,285,795
80,753,237
77,898,975
79,205,079
79,673,428
COUNTY OF SURRY
Table 6
Continued
Governmental Expenditures by Function
(modified basis of accounting)
Fiscal
Year
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
General
Government
$6,401,023
6,583,222
6,533,396
7,021,376
10,374,221
8,950,981
8,971,055
8,998,008
10,071,587
8,259,259
Public
Safety
$11,769,317
13,306,483
13,322,158
13,955,709
14,870,953
15,091,630
16,661,009
16,695,783
17,135,602
17,982,699
Culture &
Recreation
$797,615
885,232
834,060
785,202
1,246,134
409,536
935,014
950,319
890,715
918,147
Debt
Service-Principal
$4,219,774
4,373,163
4,609,304
5,337,839
5,446,810
5,422,598
5,258,317
5,034,084
5,682,631
6,663,087
Debt
Service-Interest
$1,820,534
1,739,944
1,674,173
1,801,924
1,591,855
1,351,438
1,615,787
2,143,399
2,322,521
2,105,312
(1) Includes general, special revenue, and capital projects funds.
(2) Does not include school capital projects prior to 2007.
2013 Governmental Expenditures
3% 3%
11%
21%
24%
25%
3%
General Government
Culture & Recreation
Debt Service-Interest
Education
Capital Outlay (2)
9% 1%
Public Safety
Debt Service-Principal
Human Services
Economic & Phy. Development
125
Table 6
Human
Services
$19,345,444
20,995,456
22,212,566
23,410,115
20,963,179
22,135,605
21,145,732
22,213,116
21,286,982
18,466,330
Education
$18,225,150
20,894,243
23,066,139
17,973,282
19,382,058
21,357,232
19,755,082
13,162,055
19,193,953
15,820,167
Economic & Phy.
Development
$2,652,556
3,678,921
3,006,265
3,278,286
3,746,496
2,903,162
3,937,963
10,568,921
3,678,853
2,481,556
126
Capital
Outlay (2)
$287,096
1,020,971
1,241,823
9,194,138
8,808,084
6,272,061
24,743,213
13,235,262
1,773,344
1,967,409
Totals
$65,518,509
73,477,635
76,499,884
82,757,871
86,429,790
83,894,243
103,023,172
93,000,947
82,036,188
74,663,966
COUNTY OF SURRY
Table 7
Governmental Activities Tax Revenues By Source
Fiscal
Year
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Property
Tax
$30,197,879
32,279,061
32,998,560
33,954,300
34,567,691
35,084,160
34,833,183
34,759,655
34,883,475
35,310,493
Total
$30,197,879
32,279,061
32,998,560
33,954,300
34,567,691
35,084,160
34,833,183
34,759,655
34,883,475
35,310,493
Note: Includes all governmental fund types. These amounts include fire
and school districts.
Property Tax
Collections
$36,000,000
$35,000,000
$34,000,000
$33,000,000
$32,000,000
$31,000,000
$30,000,000
$29,000,000
$28,000,000
$27,000,000
127
COUNTY OF SURRY
Table 8
Property Tax Levies and Collections (1)
Fiscal Year
Ended
June 30
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Total Tax
Levy for
Fiscal Year
$26,468,290
28,981,881
29,314,492
30,000,233
30,579,875
31,409,875
31,147,112
30,955,660
31,186,745
31,466,873
Collected within the
Fiscal Year of the Levy
Percentage
Amount
of Levy
$25,377,217
95.88%
27,644,560
95.39%
28,393,883
96.86%
28,996,666
96.65%
29,676,935
97.05%
30,314,868
96.51%
30,088,026
96.60%
30,001,552
96.92%
30,084,691
96.47%
30,242,756
96.11%
Collections in
Subsequent
Years
$877,658
847,378
897,827
921,705
832,268
257,576
601,809
580,354
616,937
750,785
(1) Source: Audited annual financial reports of this entity and Tax Director's records.
128
Total Collections to Date
Percentage
Amount
of Levy
$26,254,875
0.99194
28,491,938
0.98309
29,291,710
0.99922
29,918,371
0.99727
30,509,203
0.99769
30,572,444
0.97334
30,689,835
0.98532
30,581,906
0.98793
30,701,628
0.98444
30,993,541
0.98496
COUNTY OF SURRY, NORTH CAROLINA
Table 9
Property Tax Rates-Direct and Overlapping
Governments (1)
Fiscal
Year
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Surry
County
0.640
0.630
0.630
0.630
0.630
0.582
0.582
0.582
0.582
0.582
City of
Mount
Airy
0.560
0.560
0.600
0.630
0.630
0.590
0.590
0.590
0.560
0.560
Mount
Airy
MSD
0.220
0.220
0.220
0.220
0.220
0.220
0.220
0.220
0.200
0.210
Town of
Pilot
Mountain
0.480
0.480
0.520
0.520
0.560
0.560
0.560
0.560
0.560
0.580
Town
of
Elkin
0.475
0.475
0.475
0.475
0.475
0.475
0.475
0.475
0.475
0.500
Elkin
MSD
0.100
0.100
0.100
0.100
0.100
0.100
0.100
0.100
0.100
0.100
Town Mount Airy
of
School
Dobson
District
0.380
0.113
0.380
0.107
0.380
0.107
0.380
0.107
0.380
0.107
0.380
0.100
0.380
0.100
0.380
0.100
0.380
0.100
0.380
0.100
(1) Rate per $100.00 of assessed valuation.
(2) Source: Respective entities.
County Tax Rate 2004-2013
0.650
0.640
0.630
0.620
0.610
0.600
0.590
0.580
0.570
0.560
0.550
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
129
Elkin
School
District
0.145
0.133
0.133
0.133
0.133
0.122
0.122
0.122
0.122
0.122
COUNTY OF SURRY
Table 10
Property Tax Rates-Overlapping
Fire Districts (1)
Fiscal
Year
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Fiscal
Year
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Ararat
0.095
0.087
0.087
0.087
0.087
0.080
0.080
0.080
0.080
0.080
Bannertown
0.050
0.050
0.055
0.055
0.055
0.055
0.055
0.055
0.055
0.055
Name of Fire District
Central
Four
CC Camp
Surry
Way
0.068
0.074
0.070
0.068
0.067
0.066
0.068
0.065
0.075
0.068
0.065
0.075
0.068
0.065
0.075
0.065
0.061
0.075
0.065
0.061
0.075
0.065
0.061
0.085
0.065
0.061
0.085
0.065
0.061
0.095
Pilot Knob Pine Ridge
0.045
0.000
0.045
0.000
0.045
0.000
0.045
0.000
0.045
0.000
0.040
0.000
0.040
0.070
0.040
0.070
0.040
0.070
0.040
0.070
Shoals
0.080
0.071
0.071
0.071
0.071
0.065
0.065
0.065
0.065
0.065
Name of Fire District
South
Skull Camp
Surry
0.100
0.058
0.090
0.057
0.090
0.060
0.090
0.060
0.090
0.060
0.080
0.055
0.080
0.055
0.080
0.055
0.080
0.055
0.080
0.055
(1) Rate per $100.00 of assessed valuation.
130
Franklin
0.051
0.051
0.056
0.056
0.056
0.056
0.056
0.066
0.066
0.066
Jot-um
Down
0.115
0.115
0.115
0.115
0.115
0.100
0.100
0.100
0.100
0.100
Mtn. Park
0.098
0.087
0.087
0.087
0.087
0.077
0.077
0.077
0.077
0.077
State
Road
0.049
0.048
0.048
0.048
0.048
0.044
0.044
0.044
0.044
0.044
Westfield
0.056
0.052
0.052
0.052
0.052
0.047
0.047
0.047
0.047
0.057
White Plains
0.058
0.058
0.073
0.073
0.073
0.068
0.068
0.068
0.068
0.068
COUNTY OF SURRY
Table 11
Assessed Value and Estimated Actual Value of Taxable Property
Fiscal
Real Property
Year
Residential
Ended
& Commercial
June 30
Property
2004
$3,001,145,155
2005
3,430,366,305
2006
3,488,318,810
2007
3,546,958,992
2008
3,617,115,916
2009
4,116,386,814
2010
4,148,303,243
2011
4,190,072,457
2012
4,202,089,555
2013
4,104,087,817
Personal Property
(2)
Motor
Public
Vehicles
Service
$1,008,851,532 $142,973,216
1,001,773,335
148,615,097
1,027,685,572
143,794,211
1,047,612,783
146,369,668
1,073,467,600
147,644,382
1,077,722,304
150,511,207
1,014,870,174
150,723,493
964,288,304
150,474,702
990,895,690
157,852,481
1,100,121,626
167,009,037
Less:
(4)
Tax
Total
Exempt
Taxable
Real
Assessed
Property
Value
$1,150,490 $4,151,819,413
1,156,892 4,579,597,845
1,924,936 4,657,873,657
1,976,983 4,738,964,460
2,013,838 4,836,214,060
2,005,445 5,342,614,880
2,044,447 5,311,852,463
2,070,509 5,302,764,954
2,103,254 5,348,734,472
2,159,352 5,369,059,128
(3)
(5)
Total
Estimated
Rate
Actual
Per $100
Tax Value
0.64
$4,837,259,015
0.63
4,579,597,845
0.63
4,818,323,841
0.63
4,846,062,440
0.63
4,895,944,584
0.58
5,408,599,798
0.582
5,515,942,329
0.582
5,409,880,590
0.582
5,362,139,822
0.582
Not Available
(1) Source: Audited Annual Financial reports of this entity and Tax Director's records.
(2) Public service companies' property includes real and personal property of utilities, railroads and airlines, etc. The
assessments are made by the North Carolina Department of Revenue with no distinction between real and personal
property.
(3) Rate per $100 of assessed value.
(4) The levy of property taxes is based on the assessed value of taxable property as of January 1 preceding the beginning
of the fiscal year on July 1. All taxable property was assessed at one hundred percent (100%) of its estimated value
at the time of revaluation (2008,2012).
(5) The estimated market value is calculated by dividing the assessed value by an assessment-to-sales ratio determined
by the State Department of Revenue. The ratio is based on actual property sales which took place during the fiscal year.
The ratio for the most recent year is not yet available.
131
COUNTY OF SURRY
Table 12
Principal Property Taxpayers (1)
Current Year and Ten Years Ago
Taxpayer/Type of Business
Weyerhaeuser
(Wood Products)
Taxable
Assessed
Value
2013
Percentage of
Total Taxable
Assessed
Rank
Value
County
Tax
Levy
Taxable
Assessed
Value
Rank
2003
Percentage of
Total Taxable
Assessed
Value
County
Tax
Levy
$74,259,811
1
1.383%
$432,192
$27,194,673
8
0.658%
$174,046
Duke Energy Corporation
(Public Service)
71,451,187
2
1.331%
415,846
99,392,416
1
2.405%
636,111
Pike Electric, Inc.
(Electrical Contractors)
70,621,753
3
1.315%
411,019
30,045,725
5
0.727%
192,293
Surry Yadkin Electric
(Electric Utility)
34,377,899
4
0.640%
200,079
38,389,743
3
0.929%
245,694
Wal-Mart
(Retail Merchandiser)
34,312,855
5
0.639%
199,701
Carolina Carports, Inc.
(Carport Sales & Installation)
22,387,244
6
0.417%
130,294
Lowe's Home Improvement, Inc.
(Home Improvement)
20,849,698
7
0.388%
121,345
L.S. Starrett Company
(Precision Tool Manufacturer)
19,041,931
8
0.355%
110,824
29,042,329
6
0.703%
185,871
Central Telephone Company
(Telephone Utility)
16,294,153
9
0.303%
94,832
62,977,505
2
1.524%
403,056
Hugh Chatham Memorial Hospital
(Hospital)
15,168,240
10
0.283%
88,279
Wayne Farms LLC
(Poultry)
13,777,726
11
0.257%
80,186
Vaughan-Bassett Furniture
(Furniture Manufacturer)
13,275,097
12
0.247%
77,261
Frontier Energy
(Natural Gas Distributor)
36,699,470
4
0.888%
234,877
Cross Creek Apparel
(Garment Manufacturer)
27,568,620
7
0.667%
176,439
Sara Lee Sock
(Footwear Manufacturer)
25,969,444
9
0.629%
166,204
Carolina Designs
(Candle Manufacturer)
25,817,676
10
0.625%
165,233
9.756%
$2,579,825
Totals
$405,817,594
7.558%
(1) Source: Audited annual financial reports of this entity and Tax Director's records.
Top Ten Taxpayers provided for 2003, whereas top 12 for 2013
132
$2,361,858
$403,097,601
COUNTY OF SURRY
Table 13
Ratios of Outstanding Debt by Type
Fiscal
Year
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Government Activities
Installment
General
Financing/
Obligation
Capital
Bonds
Leases
$16,745,000 $27,495,902
14,955,000 24,863,070
13,180,000 33,275,501
11,430,000 34,952,236
9,700,000 31,235,427
7,990,000 33,122,830
7,475,000 49,400,414
5,670,000 54,965,885
3,875,000 51,078,255
2,195,000 46,233,627
Installment
General
Financing/
Obligation
Capital
Bonds
Leases
$
$2,184,019
1,840,511
1,484,103
3,657,453
2,548,000
716,210
2,548,000
3,309,000
2,519,000
2,926,157
2,490,000
2,457,592
2,459,000
2,080,860
2,427,000
1,691,555
Total
Primary
Government
$46,424,921
41,658,581
47,939,604
50,039,689
44,199,637
46,969,830
62,320,571
65,583,477
59,493,115
52,547,182
Percentage
of Personal
Income
25.02%
21.77%
23.81%
23.49%
20.74%
20.92%
29.01%
29.97%
26.94%
Not Available
Note: Details regarding the County's outstanding debt can be found in the notes to the financial statements.
Population data can be found in Table 18.
133
Per
Capita
645
576
656
686
604
640
844
889
801
703
COUNTY OF SURRY
Table 14
Ratios of General Bonded Debt Outstanding
(amounts expressed in thousands, except per capita amount)
Fiscal
Year
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
(1)
Population
71,980
72,276
73,028
72,990
73,150
73,388
73,881
73,791
74,246
74,702
(2)
Assessed
Value
$4,151,819,413
4,579,597,845
4,657,873,657
4,738,996,694
4,836,214,060
5,342,614,880
5,311,852,463
5,302,764,954
5,348,734,472
5,369,059,128
(2)
Less: Amounts
General
Available
Obligation
in Debt
Bonds
Service Fund
$16,745,000
14,955,000
13,180,000
11,430,000
12,248,000
10,538,000
9,994,000
8,160,000
6,334,000
4,622,000
-
(3)
Net
Bonded
Debt
$16,745,000
14,955,000
13,180,000
11,430,000
12,248,000
10,538,000
9,994,000
8,160,000
6,334,000
4,622,000
Ratio of Net
Bonded to
Assessed Value
0.40%
0.33%
0.28%
0.24%
0.25%
0.20%
0.19%
0.15%
0.12%
0.09%
(1) Source: North Carolina Office of State Budget and Management.
(3) Amount does not include special assessment bonds and revenue bonds. The County does not have any
special assessment or revenue bonds outstanding.
Note: Details regarding the County's outstanding debt can be found in the notes to the financial statements.
See table 18 for personal income and population data. These ratios are calculated using personal
income and population for the prior calendar year.
134
Net
Bonded
Debt
Per
Capita
233
207
180
157
167
144
135
111
85
62
COUNTY OF SURRY
Table 15
Continued
Legal Debt Margin Information
2004
Debt Limit
Total gross debt applicable to limit
Legal debt margin
$332,145,553
Fiscal Year
2005
2006
2007
$366,367,828 $372,629,893 $379,117,157
44,513,255
40,058,020
46,665,452
49,108,004
287,632,298
326,309,808
325,964,441
330,009,153
Total net debt applicable to the limit
as a percentage of debt limit
13.40%
10.93%
12.52%
12.95%
Note: Under state finance law, the County's outstanding general obligation debt should not exceed 15% of total assessed property
value. By law, the general obligation debt subject to the limitation may be offset by amounts set aside for repaying G.O. Bonds.
2013 Data
Assessed Value:
$5,369,059,128
Total Assessed Value
$5,369,059,128
Debt Limit - Eight Percent (8%)
of Assessed Value:
Long-term Debt:
Outstanding General Obligation Bonds:
2010A Public Building
2010B School Refunding
2007 Water/Sewer
Installment Purchase Agreements
$429,524,730
$935,000
$1,260,000
$2,427,000
$47,833,081
$52,455,081
Less: General Obligation Bonds included in above for long-term
debt incurred for water.
$1,155,252
Other:
Capital Leases:
92,101
Gross Debt:
$51,391,930
LEGAL DEBT MARGIN:
$378,132,800
(2) School and community college bonds.
135
Table 15
2008
2009
Fiscal Year
2010
2011
2012
2013
$386,897,125 $427,409,190 $424,948,197 $424,221,196 $427,898,758 $429,524,730
42,414,413
45,561,591
61,121,527
64,398,237
58,322,631
51,391,930
344,482,712
381,847,599
363,826,670
359,822,959
369,576,127
378,132,800
10.96%
10.66%
14.38%
15.18%
136
13.63%
11.96%
COUNTY OF SURRY
Table 16
Direct and Overlapping Governmental Activities Debt
As of June 30, 2013
Governmental Unit
Estimated
Share of
Overlapping
Debt
(2)
Debt
Outstanding
Estimated
Percentage
Applicable
0
220,852
0
477,149
0
0
0
225,210
100%
100%
100%
100%
100%
100%
100%
100%
0
220,852
0
477,149
0
0
0
225,210
923,211
100%
923,211
Debt repaid with property taxes: (1)
Town of Dobson-General Obligation Bonds
Town of Dobson-Installment Financing
Town of Elkin-General Obligation Bonds
Town of Elkin-Installment Financing
City of Mount Airy-General Obligation Bonds
City of Mount Airy-Installment Financing
Town of Pilot Mountain-General Obligation Bonds
Town of Pilot Mountain-Installment Financing
Subtotal, overlapping debt
County of Surry direct debt
48,428,627
Total direct and overlapping debt
$49,351,838
(1) Source: Finance Officers of respective entities.
(2) Does not include debt reported in enterprise
funds.
Note: Overlapping governments are those that coincide, at least in part, with the geographic boundaries
of the County. This schedule estimates the portion of the outstanding debt of those overlapping
governments that is borne by the residents and businesses of the County. This process recognizes
that, when considering the County's ability to issue and repay long-term debt, the entire debt burden
borne by the residents and businesses should be taken into account. However, this does not imply
that every taxpayer is a resident, and therefore responsible for repaying the debt, of each overlapping
government.
137
COUNTY OF SURRY
Table 17
Principal Employers (1)
Current Year and TenYears Ago
2013
2003
Number
of
Employees
Rank
(2)
Percentage of
of total County
Employment
Surry County Schools
(School System)
1,265
1
3.80%
1,272
1
3.95%
Wayne Farms, LLC
(Poultry Products)
914
2
2.75%
795
4
2.47%
Hugh Chatham Memorial Hospital
(Hospital)
832
3
2.50%
750
5
2.33%
Northern Hospital of Surry County
(Hospital)
748
4
2.25%
628
7
1.95%
Wal-mart
(Retail Sales)
705
5
2.12%
-
-
-
Workforce Carolina, Inc.
(Employment Services)
675
6
2.03%
-
-
-
Surry Community College
(College)
525
7
1.58%
431
11
1.34%
County of Surry
(County Government)
509
8
1.53%
729
6
2.26%
Renfro Corporation
(Footware Manufacturer)
406
9
1.22%
920
3
2.86%
Food Lion
(Grocery Retailer)
284
10
0.85%
-
-
-
Lowe's Home Centers, Inc.
(Home Improvement)
273
11
0.82%
-
-
-
City of Mount Airy
(City Government)
263
12
0.79%
-
-
-
Hanesbrands, Inc.
(Footwear Manufacturer)
231
13
0.69%
-
-
-
Mount Airy City Schools
(School System)
229
14
0.69%
-
-
-
Pike Electric, Inc.
(Electrical Contractor)
176
15
0.53%
232
16
0.72%
24.17%
5,757
Employer/Type of Business
Totals
8,035
(1) Source: Respective Businesses
(2) Source: State Agency Data: Department of Commerce
138
Number
of
Employees
Rank
(2)
Percentage of
of total County
Employment
17.88%
COUNTY OF SURRY
Table 18
Continued
Demographic and Economic Statistics
Last Ten Calendar Years
Calendar
Year
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Population(1)
71,980
72,276
73,028
72,990
73,150
73,388
73,881
73,791
74,246
74,702
**Total
Personal
Income
(000)
1,755,770
1,855,799
1,913,777
2,013,385
2,130,644
2,245,649
2,148,549
2,188,272
2,208,635
Not Available
Per
Capita
Personal
Income (2)
24,051
24,995
25,875
27,181
28,497
21,063
20,443
19,971
19,649
19,408
Building Permits
Residential (3)
Commercial (3)
26,070,998
14,478,846
32,802,230
22,324,677
28,128,915
29,366,394
18,546,133
42,545,774
30,027,738
36,538,571
29,804,466
45,483,019
17,362,057
38,157,809
5,368,887
6,249,284
17,156,275
7,827,220
12,869,755
4,975,445
Data Sources
(1) Bureau of the Census/County Regional Planning Commission
(2) NC Department of Labor
(3) Surry County Inspections Department
(4) NC State Board of Elections
(5) School District
(6) Employment Security Commission
Note: Population, median age, and education level information are based on surveys conducted during the
last quarter of the calendar year. Personal income information is a total for the year. Unemployment
rate information is an adjusted yearly average. School enrollment is based on the census at the start
of the school year.
*This fiscal year sales and use tax report is not comparable to previous fiscal year reports. In
the Fiscal Year 2005/2006 the streamlined sales tax agreement required a change in the
Sales & Use Tax return so that not all taxpayers reported Gross Retail Sales. Beginning
with the report for Fiscal Year 2005-2006, only Gross Collections and Taxable Sales
are reported.
** Total Personal Income for 2012 will not be available from Bureau of Economic Analysis
until April 2014.
139
Table 18
School
Enrollment
Adm (5)
11,355
11,534
11,621
11,626
11,437
11,382
11,176
11,070
11,154
11,031
Unemployment
Rate(6)
8.7%
5.7%
9.4%
5.5%
5.9%
10.1%
11.4%
11.9%
11.3%
10.1%
Monthly
Labor
Force
32,198
31,687
35,097
35,139
35,880
33,985
33,604
32,942
33,439
33,248
Registered
Voters(4)
41,263
43,090
42,117
42,656
42,887
46,039
43,414
43,826
43,329
45,027
140
County
Gross Retail
Sales(000)/
*Taxable Sales
905,054
943,604
1,040,835
*625,647
665,545
628,510
628,813
666,359
699,984
707,477
COUNTY OF SURRY
Table 19
Continued
Full-time Equivalent County Government Employees by Function
Full-time Equivalent Employees as of December 31
2003
Function
General Government
Public Safety:
Sheriff Department Officers & Admin.
EMS
Fire Marshal
Inspections
Communications
Animal Control
Human Services:
Health
Department of Social Services
Veteran Services
Planning
Tourism
Cooperative Extension
Natural Resources Conservation Service
Proprietary:
Landfill
Total
2004
Calendar Year
2005
2007
65
69
70
71
76
87
53
4
10
15
6
4
90
53
4
9
14
6
4
89
51
4
9
15
6
4
89
69
4
10
15
6
4
98
68
4
11
15
5
3
151
112
2
157
111
2
158
114
2
158
107
2
164
109
3
6
6
6
6
6
9
4
9
3
8
3
6
2
5
3
9
8
12
12
12
537
545
551
561
582
Source: County of Surry Payroll Office
Note: A full-time employee is scheduled to work 2,080 hours per year (including vacation and sick
leave). Full-time equivalent employment is calculated by dividing total labor hours by 2,080. This
calculation began with the implementation of new software for Fiscal year 1998.
141
2006
Table 19
2008
2009
Calendar Year
2010
2011
2012
87
84
76
76
77
95
68
4
10
15
7
3
102
67
4
11
15
7
2
101
70
4
10
16
7
2
96
71
4
10
14
8
1
95
70
4
10
15
8
2
161
109
3
159
112
2
187
111
2
154
107
2
108
103
2
4
4
4
3
6
4
4
3
6
3
4
3
6
3
7
3
6
1
7
3
11
11
9
12
11
588
593
611
574
522
142
COUNTY OF SURRY
Table 20
Continued
Calendar Year
2003
2004
2005
2006
2007
Function
General Government:
Finance Department
Vendor Checks Written
17,027
16,993
17,244
17,853
Payroll Checks Processed
8,416
8,449
8,467
8,664
18,634
8,635
Purchase Orders Issued
1,130
1,312
1,330
1,417
1,374
Credit Card Transactions to County
Register of Deeds
Birth Certificates Filed
970
914
925
983
1,030
Death Certificates Filed
650
597
710
696
704
Marriage Licenses Issued
528
509
529
559
534
Tax Department
Percent of Levy Collected
95.05%
96.22%
96.61%
96.91%
97.37%
Public Safety:
Sheriff's Office
Answered Calls for Service
Warrants/Criminal Summonses
Civil Processes and subpoenas served
Number of Domestic Violence Orders
Inmates processed in the Detention Center
79,986
74,383
76,286
100,797
4,170
5,008
3,284
3,203
73,955
3,908
28,000
26,000
15,834
15,054
15,384
397
450
752
686
901
3,420
2,856
3,215
3,201
3,272
12,355
13,947
14,763
15,124
14,900
EMS
Total EMS Calls
Fire Marshal
Permit Inspections
44
45
42
42
33
992
960
998
682
741
Number of residential permits issued
219
232
212
295
177
Number of commercial permits issued
56
57
53
39
57
Total 911 calls (Calendar Yr)
209,875
210,605
211,200
*41,365
41,133
Total Administrative Calls
693,500
711,750
713,650
*141,292
230,778
3,808
3,005
Number of Inspections conducted
Inspections
Communications
*until 2006 data, 911 calls and Administrative calls included CAD, EMD calls
Animal Control
Total Impounded Animals
Domestic Animals receiving rabies vaccine
3,008
3,711
3,860
12,031
10,249
12,817
Park
Shelter Reservations
430
523
452
482
660
Ballfield Reservations
660
701
673
489
553
143
Table 20
Page 1 of 2
Calendar Year
2008
2009
2010
2011
2012
18,798
16,536
17,154
17,532
16,126
9,513
9,671
9,664
9,393
8,912
1,517
1,319
1,503
1,460
1,305
296
1,091
1,719
2,788
2,623
1,098
1,065
1,036
951
1,029
786
745
885
936
863
554
508
511
529
524
97.66%
97.70%
97.82%
97.60%
97.23%
61,115
67,535
79,347
69,332
2,433
2,705
2,649
2,548
91,142
3,506
16,459
16,357
14,863
16,212
16,739
309
337
309
233
270
3,262
3,041
3,020
3,071
3,229
15,247
14,304
15,428
13,724
16,738
31
27
77
40
42
1,103
1,596
2,104
1,954
1,696
183
99
88
83
74
134
22
15
27
22
40,118
37,236
37,277
44,041
48,011
256,334
205,652
119,709
190,004
182,826
4,388
4,542
3,926
4,102
3,426
12,968
12,867
13,397
12,669
268
647
602
570
878
888
690
922
887
742
560
144
COUNTY OF SURRY
Table 20
Continued
Calendar Year
2003
2004
2005
2006
2007
Human Services
Health
Number of Immunizations
9,210
7,981
6,318
5,211
7,368
WIC-no. of recipients (caseload) monthly
1,897
1,930
1,941
1,982
1,979
Total Patients seen by Pediatrics
4,913
4,209
4,177
5,347
5,337
Patients seen at Dental Clinic
Dental Clinic Started March 2002
677
1,900
1,147
1,162
3,151
1,009
1,257
931
718
835
603
683
584
262
388
Children and families receiving Medicaid
6,432
6,713
7,292
7,525
7,658
Total NC Health Choice Recipients
1,255
1,489
1,268
1,295
1,374
Elderly, Blind & Disabled Adult Recipients
4,115
4,206
4,373
4,569
4,607
Monthly Households receiving Food Stamps
2,446
2,800
3,404
3,741
3,940
Food and Lodging Inspections
Soil Site Evaluations by Environmental Health
Department of Social Services
Total Households receiving
5,224
2,000
2,213
2,547
2,791
Total Families Receiving Emergency Assist.
Low income Energy Assistance
700
681
736
538
934
Total Work-First Family Assistance-EA Funds
200
215
215
259
12
$3,069,155
$3,266,405
$3,342,751
$3,627,915
677
686
799
811
816
5
6
10
8
10
84
92
94
99
100
Total Child Support Collections
$2,792,036
Children served monthly-Daycare
Adoptions Finalized
Adoption Assistance Recipients
Work First Cash Assistance Households
200
215
215
203
162
Children Receiving Child Support
2,813
2,765
2,796
2,807
3,039
Child Abuse & Neglect Reports
1,027
1,055
1,182
1,080
976
Adult Abuse & Neglect Reports
44
36
29
52
Voter Registrations Completed
72
375
New service provided 2007
Fishing License Waivers Issued
21
New service provided 2007
Veteran Services
Number of Veterans served
16,000
16,500
8,000
8,491
9,616
920
725
617
663
547
Planning
Number of Zoning Permits Issued
Sources: Annual reports from various departments of the County.
Note: The same information may/may not be provided each year, due
to computer, management changes.
145
Table 20
Page 2 of 2
Calendar Year
2008
2009
2010
2011
2012
7,191
15,776
10,186
6,018
5,780
2,135
2,036
2,100
2,247
2,112
4,955
5,337
5,808
5,977
4,988
4,004
4,836
7,300
7,855
7,334
888
905
725
790
676
430
273
191
195
177
8,288
9,047
9,087
9,464
9,514
1,428
1,398
1,442
1,532
1,441
4,714
4,753
4,973
5,103
5,105
4,547
5,206
6,090
6,741
7,009
2,839
3,106
3,526
3,876
584
653
919
1,379
1,332
1,862
2
3
2
1
3
3,882,603
3,873,636
3,864,858
3,953,153
3,903,066
841
796
844
633
672
5
10
15
16
19
103
107
111
112
120
173
185
164
165
145
2,961
2,782
2,759
2,758
2,803
935
885
935
1,113
1,123
47
50
51
57
47
483
193
381
541
528
13
45
64
81
119
12,031
13,500
14,500
26,200
20,000
513
452
425
472
454
146
COUNTY OF SURRY
Table 21
Continued
Capital Asset Statistics by Function
2005
2004
Function
Public Safety:
Jail/Sheriff's Office
Total Sheriff Vehicles
Fiscal Year
2006
2007
2008
1
48
1
58
1
72
1
84
1
90
EMS
Total EMS Vehicles
22
22
23
25
26
Inspections
Inspection Vehicles
5
6
8
7
7
43
1
43
1
43
1
43
1
43
1
13
356.68
99
13
13
356.68
99
13
13
356.68
99
13
13
452.07
99
13
13
452.07
99
13
Park Acreage-Fisher River Park
Amphitheater **Built 2003
**Park opened Spring of 2001
Proprietary:
Lined Landfill Acres
Total land at Mount Airy Landfill
Total land at Elkin Landfill
Recycling Centers
Sources: Asset records for departments of the County.
Note: No capital asset indicators are available for the general government.
147
Table 21
2009
Fiscal Year
2011
2010
2012
2013
1
88
1
88
1
99
1
93
1
93
27
27
31
30
30
7
7
6
6
6
43
1
43
1
43
1
43
1
43
1
13
452.07
99
14
24
452.07
99
13
24
452.07
99
13
24
452.07
99
13
24
452.07
99
13
148
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Report On Compliance For Each Major State Program; Report On Internal Control
Over Compliance; In Accordance With OMB Circular A-133;
And The State Single Audit Implementation Act
Report on Compliance for Each Major State Program
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153
Opinion on Each Major State Program
In our opinion, Surry County complied, in all material respects, with the types of compliance
requirements referred to above that could have a direct and material effect on each of it major State
programs for the year ended June 30, 2013.
Report on Internal Control Over Compliance
Management of Surry County is responsible for establishing and maintaining effective internal control
over compliance with the types of compliance requirements referred to above. In planning and
performing our audit of compliance, we considered Surry County’s internal control over compliance with
the requirements that could have a direct and material effect on a major State program to determine the
auditing procedures that are appropriate in the circumstances for the purpose of expressing our opinion on
compliance for each major State program and to test and report on internal control over compliance in
accordance with OMB Circular A-133, but not for the purpose of expressing an opinion on the
effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the
effectiveness of Surry County’s internal control over compliance.
A deficiency in internal control over compliance exists when the design or operation of a control over
compliance does not allow management or employees, in the normal course of performing their assigned
functions, to prevent, or detect and correct, non-compliance with a type of compliance requirement of a
State program on a timely basis. A material weakness in internal control over compliance is a deficiency,
or combination of deficiencies, in internal control over compliance, such that there is reasonable
possibility that material non-compliance with a type of compliance requirement of a State program will
not be prevented, or detected and corrected, on a timely basis. A significant deficiency in internal control
over compliance is a deficiency, or combination of deficiencies, in internal control over compliance with
a type of compliance requirement of a State program that is less severe than a material weakness in
internal control over compliance, yet important enough to merit attention by those charged with
governance.
Our consideration of internal control over compliance was for the limited purpose described in the first
paragraph of this section and was not designed to identify all deficiencies in internal control over
compliance that might be material weaknesses or significant deficiencies. We did not identify any
deficiencies in internal control over compliance that we consider to be material weaknesses. However,
material weaknesses may exist that have not been identified.
The purpose of this report on internal control over compliance is solely to describe the scope of our
testing of internal control over compliance and the results of that testing based on our requirements of
OMB Circular A-133. Accordingly, this report is not suitable for any other purpose.
Martin Starnes & Associates, CPAs, P.A.
Hickory, North Carolina
October 22, 2013
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
1.
Summary of Auditors’ Results
Financial Statements
Type of auditors’ report issued:
Unmodified
Internal control over financial reporting:
x
x
Material weaknesses identified?
Yes
X
No
Significant deficiency(s) identified that
are not considered to be material
weaknesses?
Yes
X
None reported
Yes
X
No
Yes
X
No
weaknesses?
Yes
X
None reported
X
No
X
No
Non-compliance material to financial
statements noted?
Federal Awards
Internal control over major federal
programs:
x
x
Type of auditor's report issued on
compliance for major federal programs:
Any audit findings disclosed that are
required to be reported in accordance
with U.S. Office of Management and
Budget, Circular A-133, Audits of States,
Local Governments, and Non Profit
Organizations, section .510(a)?
Unmodified
Yes
Identification of major federal programs:
Program Name
Medicaid Cluster
CFDA#
93.778, 93.720, 93.775, 93.777
Dollar threshold used to distinguish between
Type A and Type B Programs
$2,217,387
Auditee qualified as low-risk auditee?
Yes
1.
Summary of Auditors’ Results (continued)
State Awards
Internal control over major State programs:
x
x
Yes
X
No
weaknesses?
Yes
X
None reported
X
No
Type of auditor's report issued on
compliance for major State programs:
Unmodified
Any findings disclosed that are required to
be reported in accordance with the State
Single Audit Implementation Act?
Yes
Identification of major State programs:
Program Name
Medicaid Cluster
N.C. Department of Public Instruction:
N.C. Lottery Fund
2.
Findings Related to the Audit of the Basic Financial statements
None reported
3.
Federal Award Findings and Questioned Costs
None reported
4.
State Award Findings and Questioned Costs
None reported
SUMMARY SCHEDULE OF PRIOR YEAR'S AUDIT FINDINGS
None
SCHEDULE OF EXPENDITURES OF FEDERAL AND STATE AWARDS
Federal
CFDA
Number
GRANTOR/PASS-THROUGH
GRANTOR/PROGRAM TITLE
Federal
Expenditures
State
Expenditures
FEDERAL GRANTS:
CASH PROGRAMS:
U.S. Department of Agriculture
Food and Nutrition Service
Passed-Through N. C. Department of Health and Human Services
Division of Social Services:
Administration:
Supplemental Nutrition Assist. Program Cluster:
State Administrative Matching Grants for the Supplemental Nutrition
Assistance Program
Supplemental Nutrition Assist. Program Cluster:
Passed-through N.C. Dept. of Agriculture
Food Distribution Cluster:
Emergency Food Assistance Program-Administrative
Cost
Emergency Food Assistance Cluster:
Division of Public Health
Special Supplemental Nutrition Program for
Women Infant and Children-Administration
Special Supplemental Nutrition Program for
Women Infant and Children-Direct Benefit Payment
Total Division of Public Health
10.561
U.S. Department of Justice
Passed-Through N. C. Department of Crime Control and Public Safety:
Justice Assistance Grant Program Cluster:
Edward Bryne Memorial Justice Assistance Grant Program
Total Justice Assistance Grant Program Cluster:
SCAAP
Total U.S. Department of Justice
522,912
522,912
$
-
10.568
27,324
27,324
-
10.557
416,156
-
10.557
1,788,347
2,204,503
-
2,754,739
-
14.239
14.239
165,355
770,123
935,478
-
16.738
31
31
-
16.572
10,522
-
10,553
-
Total U.S. Department of Agriculture
U.S. Department of Housing and Urban Development
Single Family Rehabilitation
Home Program
Total U.S. Department of Housing and Urban Development
$
Federal
CFDA
Number
Administration on Aging
Division of Aging and Adult Services
Passed-Through Piedmont Triad Regional Council of Governments:
Aging Cluster:
Access - Title III-B-Grants for Supportive Services and Senior Centers
Supportive Services and Senior Centers
Federal
Expenditures
State
Expenditures
93.044
77,901
34,605
Congregate Nutrition - Title III-C1
Home Delivered Nutrition - Title III-C2
Nutrition Services Incentive Program
Total Aging Cluster:
93.045
93.045
93.053
76,993
78,711
28,555
262,160
4,533
61,170
100,308
In-Home Services - Title III-BTitle III-B-Grants for
Family Caregiver
CRC LCA
93.667
93.052
93.791
20,411
23,627
16,800
19,439
1,575
-
322,998
121,322
93.596
80,000
-
93.575
93.596
93.596
645,841
265,390
379,506
147,886
1,370,737
147,886
93.667
93.558
5,242
342,192
-
93.658
13,653
6,628
-
29,267
107,630
317,097
1,731,824
608,508
236,205
347,016
357,418
940,639
24,951
101,191
94,477
220,619
Total Administration on Aging
US Dept of Health and Human Services
Administration for Children and Families
Passed-through the N.C. Dept. of Health and Human Services
Subsidized Child Care (Note 4)
Child Care Development Fund Cluster
Division of Social Services
Child Care Development Fund-Administration
Division of Child Development
Child Care and Development Fund -- Discretionary
Child Care and Development Fund -- Mandatory
Child Care and Development Fund -- Match
Total Child Care Fund Cluster
Social Services Block Grant
ARRA – Emergency Contingency Fund for
Foster Care Title IV-E
Smart Start
State Appropriations
TANF-MOE
Total Subsidized Child Care Cluster
passed through NC Dept. of Health and Human Services
Foster Care and Adoption Cluster:
Foster Care-Title IV-E-Administration
Foster Care-Direct Benefit Payments
Adoption Assistance-Direct Benefit Payments
Total Foster Care and Adoption Cluster:
93.658
93.658
93.659
Federal
CFDA
Number
Child Support Program - Title IV-D
Family Preservation
Crisis Intervention
Low Income Energy AssistanceLow Income Home Energy Assistance Block Grant-Direct Benefit Payment
Permanency Planning
Social Services Block Grant
LINKS
NC Health Choice
Centers for Disease Control and Prevention
Public Health Emergency Preparedness
Centers For Disease Control And Prevention-Investigations And Technical Assistance
Cooperative Agreements for State-Based Comprehensive Breast and Cervical
Cancer Early Detection Programs
Statewide Health Promotion Program
Total Centers of Disease Control and Prevention
Administration of Children and Families
Temporary Assistance for Needy Families Cluster:
Social Service Block Grant
Temporary Assistance for Needy Families (TANF)
Social Services - Direct Benefit Payments
Total Administration of Children and Families
Health Resources and Service Administration
State Health Access Program
Maternal and Child Health Services Block Grant
Total Health Resources and Service Administration
Immunization:
Immunization Grants
Immunization:
Division of Medical Assistance
Medicaid Cluster
Medical Assistance Program
Medicaid Transportation
Adult Care Home Case Management
Title XIX - Medicaid-Direct Benefit Payments
Medicaid Cluster:
State
Expenditures
93.563
93.556
93.568
93.568
93.568
93.645
93.667
93.674
93.767
494,483
4,018
497,401
219,200
66,347
32,344
252,823
691
55,245
2,294
25,392
173
3,544
93.069
93.283
50,616
65,468
-
93.919
93.991
26,640
9,640
152,364
25,500
25,500
93.667
93.558
93.558
93.558
5,259
631,142
342,596
978,997
500
500
93.256
93.994
22,009
131,960
153,969
104,182
104,182
93.268
21,258
21,258
-
926,181
8,718
34,987
63,224,399
64,194,285
11,167
4,603
13,979
35,730,766
35,760,515
93.778
93.778
93.778
93.778
Federal
Expenditures
Federal
CFDA
Number
Office of Population Affairs
Family Planning Services
Total Office of Population Affairs
93.217
Total U.S. Department of Health and Human Services
U.S. Department of Homeland Security
Passed through N.C. Department of Crime Control and Public Safety
Division of Emergency Management
Homeland Security
Homeland Security
Homeland Security:
97.067
Emergency Management Performance
Haz Mat Emergency Preparedness
97.042
20.703
Total U.S. Department of Homeland Security
Federal
Expenditures
State
Expenditures
32,044
32,044
-
69,827,932
36,751,227
11,856
11,856
-
35,493
8,339
-
55,688
-
-
164,146
1,577
4,085
5,662
-
73,913,050
37,036,695
-
6,724
4,000
95,034
400
2,391
2,193
540
227,229
2,840
12,536
6,206
360,093
U.S. Department of Housing and Urban Development
Passed through N.C. Department of Commerce
Division of Community Assistance
CDBG - State- Administered:
Community Development Block Grant
Total U.S. Department of Housing and Urban Development
U.S. Election Assistance Commission
Help America Vote Grant
Help America Vote Grant
Total U.S. Election Assistance Commission
90.617
90.401
Total Federal Awards
State Awards
N.C. Department of Health and Human Services
Food and Lodging Fees
Environmental Health
General
Public Health Nursing
General Communicable Disease Control
Tuberculosis
TB Medical Service
School Nurse Funding Initiative
Healthy Communities
WHSF
Risk Reduction/Health Promotion
Total Division of Public Health
Federal
CFDA
Number
Administration:
AFDC Incentive/ Program Integrity
Smart Start
Direct Benefit Payments:
CWS Adoption Subsidy
SFHF Maximization
State Foster Home
State/County Special Assistance for Adults
Total Division of Social Services
Division of Aging
Passed-Through Piedmont Triad Regional Council of Governments:
In Home Services
Total Division of Aging
Federal
Expenditures
State
Expenditures
(136)
-
313
30,855
(136)
189,166
15,884
16,179
710,270
962,667
(136)
Total N.C. Department of Health and Human Services
212,623
212,623
1,535,383
North Carolina Department of Commerce
NC Department of Commerce Grant
Total North Carolina Department of Commerce
-
28,350
28,350
North Carolina Rural Development
NC Rural Development Grant
Economic Innovations Grant
Total North Carolina Rural Development
-
120,960
10,568
131,528
North Carolina Department of Transportation
Rural General Public Allocation
Work First
Elderly and Handicap Assistance Program
Total North Carolina Department of Transportation
-
85,655
19,145
68,257
173,057
North Carolina Administrative Offices of the Courts
Sheriff's Department - Safe Roads Act
Total North Carolina Administrative Offices of the Courts
-
6,135
6,135
-
26,283
28,337
5,000
51,243
15,300
-
126,163
-
6,328
6,328
North Carolina Department of Environmental and Natural Resources
Soil and Water Conservation Agricultural Cost Share
Waste Management Scrap Tire
State Trails Program
NC Clean Water Trust Grants
NC Clean Water Trust Grants
Total North Carolina Department of Environmental Health and
Natural Resources
NC Department of Insurance
Safety and Health Investment Projects
Total N.C. Department of Administration
Federal
CFDA
Number
Federal
Expenditures
State
Expenditures
NC Department of Administration
Division of Veteran's Affairs
Veteran's Service
Total N.C. Department of Administration
-
1,452
1,452
N.C. Department of Public Instruction
N.C. Lottery Fund
Total N.C. Department of Public Instruction
-
421,306
421,306
-
1,000
-
2,430,702
N.C. Department of Public Safety
Highway Safety Program
Total State Awards
$
Total Federal and State Awards
73,912,914
$
39,467,397
Notes to the Schedule of Expenditures of Federal and State Awards:
1. Basis of Presentation
The accompanying Schedule of Expenditures of Federal and State Awards includes the federal and State grant
activity of Surry County and is presented on the modified accrual basis of accounting. The information
in this schedule is presented in accordance with the requirements of OMB Circular A-133, Audits of States, Local
Governments, and Non-Profit Organizations and the State Single Audit Implementation Act. Therefore,
some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of
the basic financial statements. Benefit payments are paid directly to recipients and not included in the County's
basic financial statements. However, due to the County's involvement in determining eligibility, they are considered
federal awards to the County and are included on this schedule.
2. Subrecipients
Of the federal and State expenditures presented in the schedule, Surry County provided federal and State
awards to subrecipients as follows:
CFDA
Number
14.239
93.044
93.045
93.045
Program Title
Home Program
Access Title III-B
Congregate Nutrition Title III - C-1
Home Delivered Meals Title III - C-2
Federal
Expenditures
$
770,123
77,901
76,993
78,711
3. Clustered Programs
The following are clustered by the NC Department of Health and Human services and are treated separately for state
audit requirement purposes: Subsidized Child Care, and Foster Care and Adoption.
State
Expenditures
$
34,605
4,533
61,170

County of Surry, North Carolina

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