1971
S
r
Thursday, NovemBer 18, 1971’
THE KINGS MOUNTAIN HERALD, KINGS MOUNTAIN, N. C.
Pages
crry of kings mountain
BALANCE SHEET - ALL
June 30, 1971
Assets and Other Debits:
General
Fund
Water and
Sewwr
Fund
EleotrieitT
Fund
Gas
Fund
Copitod
Projects
Fund
Cash on hand and deposit
$ 9 023 85
$ 3 570 90
$ 1 695 60
$ 4 486 95
$21 060 46
Investments
10 000 00
27 000 00
20 000 00
Accounts receivable
11 353 70
30 048 12
72 995 95
43 005 37
2 957 81
Taxes receivable:
Uncollected items
Land sales
Capital assets
15 798 65
2 842 39
161 911 01
350 654 98
556 178 94
13 795 95
2 225 14
Amount to be provided for payment of bonds
in future years
Total Assets and Other Debits
930 000 00
$39 018 59
$135 530 03
$452 346 53
$623 671 26
$42 039 36
LIABILITIES, RESERVES, FUND BALANCES
AND RETAINED EARNINGS
Liabilities:
Accounts payable , .'^ 2
$ 1 655 24
$ 6 127 48
$ 1 035 30
$ 24 408 81
$ 9 824 36
Accrued salaries
4 158 50
787 39
524 84
181 58
Customers’ deposits - water,
electricity and gas
11 422 00
29 751 50
20 425 00
Bonds payable
Total Liabilities
Reserves, Fund Balance and Retained
930 000 00
5 813 74
948 336 87
31 311 64
45 015 39
9 824 36
Earnings:
Reserve for accounts receivable
Reserve for taxes receivable
Resei-ve for encumbrances
Invested in capital assets
Retained earnings (deficit)
Fund balance
Total Reserves, Fund Balance
and Retained Earnings
11 353 70
18 641 04
3 210 11
30 048 12
161 911 01
( 4 765 97)
72 995 95 43 005 37
350 654 98 556 178 94
( 2 616 04)( 20 528 44)
1
2 957 81
18 021 09
11 236 10
33 20-4 85
187 193 16
421 034 89
578 655 87
32 215 00
Total Liabilities, Reserves,
Fund Balance and Retained Earnings
$39 018 59
$135 530 03
$452 346 53
$623 671 26
$42 039 36
Debt
Cemetery
Recreation
Sewer
Water
Copitol
General
Service
Perpetual
Fund
Bond
Bond
Fund
Bonded
Fund
Care
Fund
Fund
Defat
Fund
164
90
$27 472 23
$4 284 82
$13 436 74
$ 2 664 96
$
$
347 500 00
80 43
571 41
6 094
08
2 355 88
1 012
98
326 44
2 412 269 07
30 000 CX)
$7 271
96
$27 552 66
$7 538 55
$13 436 74
$350 164 96
$2 412 269 07
$30 000 00
•
$
$
30 000 00
$
$
$1 952 13
$
$ 20 029 14
30 000 00
563 46
2 515 59
20 029 14
sn 43
7 107 06
571 41
2 682 32
330 133 82
2 412 269 07
164 90 27 472 23 1 769 23 13 436 74
7 271 96 27 552 66 5 022 96 13 436 74 330 135 82
2 412 269 07
$7 271 96 $27 552 66 $7 538 55 $13 436 74 $350 164 96 $2 412 269 07 $30 000 00
BONDED INDEBTEDNESS:
SANITARY SEWER
$ 880,000.00
RECREATION FACILITIES
30,000.00
WATER AND SEWER
250,000.00
WATER
2,800,000.00
TOTAL
3,960,000.00
TAXES:
CURRENT ASSESSED VALUATION
$38,624,120.00
CURRENT TAX RATE
0.85
CURRENT TAX LEVY
TAX DEUNQUENCY INFORMATION:
328,305.02
FISCAL YEAR 1968-69
$ 4,371.54
1969-70
5,640.87
1970-71
33,959.61
CITY OF KINGS MOUNTAIN
STATEMENT OF FINMCUL CONDITION
As Required By G>S. 153*123/G.S. 160-410-7
nSCAL YEAR 1970-71
Analysis oi Changes In Fund Balances
FUND
GENERAL FUMD $
WATER AND SEWER FUND
ELECTRICITY FUND
GAS FUND
CAPITAL PROJECTS FUND
DEBT SERVICE FUND
CEMETERY PERPETUAL CARE FUND
RECREATION FUND
SEWER BOND FUND
WATER BOND FUND
LTIBAN BEAUTIFICATION FUND (
COMMUNITY CIVIC CEN^R FUND (
CAPITAL FUND
BEGINNING
BALANCE
CLOSING
BALANCE
; 551.99
$ 3,210.11
5,170,376.31
6,157,145.04
319,252.59
348,038.94
.525,594.83
' 535,650.50
38,909.24
11,236.10
2,240.05
164.90
34,660.96
27,472.23
22,461.26
1,769.23
50,578.66
13,430.74
1,042,697.65
330,13.5,82
11,796.38)
.30,163.50)
2,360,984.81
2,412,269.07
detailed statements supporting the above summaries are on HLE in the office of the municipal accountant at TIffi CIW HALL.
lOHN HENRY MOSS. MAYOR