6/27/18. State and Local Government Finance Division. It's what you learn after you know it all that counts. John Wooden

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1 On The Road with the LGC Coach Team Quote of the Day It's what you learn after you know it all that counts. John Wooden 1

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3 514, or 93% of total municipalities 3

4 514, or 93% of total municipalities What percentage of the NC population lives in those 514 locations? 514, or 93% of total municipalities What percentage of the NC population lives in those 514 locations? 30% 4

5 514, or 93% of total municipalities What percentage of the NC population lives in those 514 locations? 30% How many towns have a population less than 1,000 and what percentage of the population lives in those towns? 514, or 93% of total municipalities What percentage of the NC population lives in those 514 locations? 30% How many towns have a population less than 1,000 and what percentage of the population lives in those towns? 219 towns contain 1.79% of the State s population 5

6 514, or 93% of total municipalities What percentage of the NC population lives in those 514 locations? 30% How many towns have a population less than 1,000 and what percentage of the population lives in those towns? 219 towns have just 1.79% of the State s population The 6 largest cities contain about 40% of the State s population Municipal Visits by Coach Team July December 2017 NC Municipality Data Coach Team Visit Data NC Municipal Population Data Category Category Population Range No. of Units Coach Team Visit Percent Visited Population Percent Total Total Under % 34,307 1% % 66,316 1% 1,000-2, % 19.3% 176,318 3% 2,500-4, % 345,182 6% 5,000-9, % 335,452 6% 10,000-24, % 728,250 13% 25,000-49, % 674,567 12% 50,000-99, % - 639,915 11% 100, , % 377,874 7% 200, % - 2,239,929 40% 40% % 5,618, % 100.0% 30% 30% 6

7 A Few Facts 127 Unit Visits From July 2016 to June 2017 : 73 Initial Assessment Visits 31 Return or Follow-up Visits 14 Extended Visits 7 Training Visits 2 Attempted Visits Coach Team Observations Based on observations during unit visits developed a list of several key issues to review and discuss with unit administrative and finance staff Internal Controls 2 nd person review and sign off critical for accountability 7

8 Coach Team Observations Timely reconciliation of the unit bank accounts and of subsidiary systems to the General Ledger is critical Credit card/p-card policies and controls must be in place and enforced Coach Team Observations A well defined pre-audit process must be in place in order to comply with G.S A well defined process for reporting to the Board should be in place for the Board to make informed decisions 8

9 Coach Team Observations Towns that have a utility; water, sewer or electric, must review rates on a regular basis. Collection and cut-off policies must be enforced Assistance from NC Rural Water Assoc. or the Environmental Finance Center SOG is a great asset for the smaller communities Coach Team Summary Observations Most difficult staff hurdle: Weak skill sets in the fiscal position(s) Most difficult Board hurdle: Inability to look forward with sustainability in mind, either from lack of information or inability to make the hard decisions for all citizens Most Important Unit practice: Practical and timely Budget to Actual reporting to the Board (assuming reports are accurate and pre-audit is in place) 9

10 Coach Team Summary Observations Coach Team greatest opportunity: Educating and training new fiscal staff Big Positive of LGC UAL visits we can be the leverage needed for staff or a Board to focus on issues that need to be addressed. Best Practice Board Reports 10

Town of Mayodan General Fund Financial Report Month of: MONTH** Feb, 2017 FY 2017 TO DATE ANNUAL TO DATE 8 % Over/Under BUDGET TOTALS BUDGETED ACTUAL DIFFERENCE FY Budget BUDGETED ACTUAL DIFFERENCE

11 Town of Mayodan General Fund Financial Report Month of: MONTH** Feb, 2017 FY 2017 TO DATE ANNUAL TO DATE 8 % Over/Under BUDGET TOTALS BUDGETED ACTUAL DIFFERENCE FY Budget BUDGETED ACTUAL DIFFERENCE Budget to Date OVERVIEW Revenues 420, ,910 (72,381) 2,777,180 2,085,783 2,316, , % Expenditures 161, ,701 (31,497) 2,777,180 1,934,437 1,796, , % Balance 155,210 (103,878) - 151, , ,873 REVENUES MONTH* ANNUAL ACCOUNT TO DATE TO DATE % Over/Under BUDGET TOTALS NUMBER BUDGETED ACTUAL $ DIFFERENCE FY BUDGET BUDGETED ACTUAL $ DIFFERENCE Budget to Date Property Tax , ,591 17,235 1,205,000 1,159,169 1,237,832 78, % Local Sales & Use , ,483 7, , , ,213 39, % Utility Franchise , , ,095 3, % Solid Waste Fee , ,434 (106) 155, , , % Vehicle Property Tax , , ,000 46,486 54,269 7, % All Other Revenues 145, ,825 (97,507) 646, , ,163 (67,615) -13.3% TOTAL REVENUES 420, ,910 (72,381) 2,777,180 2,085,783 2,316, , % EXPENDITURES MONTH** ANNUAL ACCOUNT TO DATE TO DATE % Over/Under BUDGET TOTALS NUMBER BUDGETED ACTUAL $ DIFFERENCE FY BUDGET BUDGETED ACTUAL $ DIFFERENCE Budget to Date Governing Body ,698 (758) 16,915 11,277 10, % Administrative ,619 11,654 12, , , ,560 15, % Finance ,424 20,267 (12,843) 133,640 89,093 78,215 10, % Code Enforcement ,650 7,100 1,932 5, % Public Buildings ,612 (835) 14,000 9,333 4,599 4, % Police ,864 79,257 (15,393) 1,149, , ,291 22, % Fire ,098 27,211 (15,113) 217, , ,569 8, % Streets ,958 27,928 (7,970) 359, , , , % Sanitation ,528 11,632 (2,104) 171, ,333 99,346 14, % Parks & Rec ,459 11,441 2, , , ,100 (7,596) -4.7% M & M Rec ,944-7, ,000 95, ,250 (11,917) -12.5% TOTAL EXPENDITURES 161, ,701 (31,497) 2,901,655 1,934,437 1,796, , % 11

12 Questions? Contact Information David P. Erwin, CPA Office phone Mobile Ann Cutler, CPA Office phone Mobile

Local Government Commission (LGC) and Fiscal Health. David Erwin, CPA & Ann Cutler, CPA Coach Team, LGC Fiscal Management

Local Government Commission (LGC) and Fiscal Health David Erwin, CPA & Ann Cutler, CPA Coach Team, LGC Fiscal Management Agenda Topics Enterprise funds and cash flow statements How does LGC assess the