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Town of Nags Head

Get the highlights of the Town of Nags Head's 2009 Audited Financial Statements, including unqualified opinion, fund balances, and summary of budgetary results.

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Town of Nags Head

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  1. Town of Nags Head 2009 Audited Financial Statements

  2. Audit Highlights • Unqualified Opinion • No questioned costs • Cooperative Staff

  3. General Fund Summary

  4. Fund Balance • Serves as a measure of the Town’s financial resources available • Assets – Liabilities = Fund Balance • 3 Classifications: • Reserved • Unreserved Designated (Available) • Unreserved Undesignated (Available)

  5. Total Fund BalanceGeneral Fund $505,939

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

  7. Unreserved Fund Balance as a Percent of Expenditures – General Fund

  8. Ad Valorem Taxes

  9. Other Taxes and Licenses

  10. Intergovernmental Revenues

  11. General Government

  12. Public Safety

  13. Environmental Protection

  14. Public Works

  15. Debt Service

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

  17. Enterprise Funds Required Cash Flow Unrestricted Debt ServiceFrom OperationsNet Assets • Water $130,283 $(25,614) $3,660,893 • Stormwater $13,764 $(11,449) $ 307,840 Comparison to June 30, 2008 • Water $154,455 $44,903 $3,877,353 • Stormwater $13,764 $134,872 $320,047

  18. Water FundQuick Ratio

  19. StormwaterQuick Ratio

  20. Discussion & Questions

  21. Town of Nags Head

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