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Memorandum #1014
<br />Apri15, 2004
<br />Page 2
<br />The chart that follows shows the average percentage of fund balance available for appropriation
<br />for similazly grouped counties and cities for the fiscal year ended Tune 3Q 2003. We noted that
<br />for counties, the overall percentage decreased slightly. The percentage decreased for the lazgest
<br />and smallest population groups, while it increased for the other groups. For cities without an
<br />electric system, the overall percentage increased slightly. The percentage decreased slightly for
<br />the two lazgest population groups while all other groups increased. For cities with an electric
<br />system, there was a more noticeable increase in the percentage. The percentage increased for all
<br />population groups exceh~t the largest.. Officials should use these figures to compaze their unit to
<br />similar units and evaluate the adequacy of their unit's current reserves. If you have any questions
<br />please call John Herron at 919-807-2397.
<br /> Average Available Fund Balances of North (-arolina Counties and Cities
<br /> .Tune 30, 2003
<br /> Average Balance
<br /> Average As a Percentage of
<br /> 2002-2003 Average Average
<br />Type of Unit Nwnber of Avemge Available 2002-2003 2002-2003 Mtssing
<br />by Size Units Fund Balance lrxpenditures lixpenditures Units
<br />Cowrhes"`
<br />All 98 13,425,725 76,314,676 17.59 2
<br />100,00Dortnore 23 :33,053,265 210,657,508 15.69
<br />SO,000to99,999 27 11,]68,327 57,688,864 19.36
<br />25,ODD to 49,999 24 7,213,250 31,080,430 23..21
<br />Under25,000* 24 3,368,046 13,757,746 24.48 2
<br />Cities - nonelectric*
<br />All 456 1,754,357 4,829,425 .36.3.3 17
<br />SO,000ormore l0 .30,623,820 13],016,240 23.37
<br />10,000 to 49,999* 28 -4,795,028 ]3,665,329 35.09 I
<br />500 to9,999*
<br />2 109 1,858,.369 3,087,808 60.18 I
<br />,
<br />1,000 to 2,499* 105 829,734 1,083,643 76.57 2
<br />500 to 999* 87 452,931 380,499 119.04 6
<br />Under500* ]17 259,815 221,959 1]7,06 7
<br />Cities -electric
<br />All 70 .3,497,299 10,016,076 .34.92
<br />SO,000ormore 6 ]3,3.38,539 53,730,358 24.82
<br />10,000 to 49,999 21 5,867,126 13,596,718 43.15
<br />2,500 to 9,999 20 1,492,763 3,792,636 39.36
<br />1,000to2,499 IO 761,065 1,174,154 64.82
<br />SOD to 999 7 475,509 693,266 68.59
<br />Under 500 6 129,259 127,493 101.38
<br />* This report excludes data from uni ts that have not submitted audited financial statements for
<br />the fiscal year ending June 30, 2003. The number of mi ssing units by popul ation group can
<br />be found in the nvssing mots column..
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