HomeMy WebLinkAboutNash County - Public Financial Report1
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About the PAFR
As part of continuing efforts to improve governmental transparency, the County decided to pub-
lish the PAFR as a supplement to the Annual Comprehensive Financial Report (ACFR) and to pro-
vide an overview of government, the service areas, your elected officials, and provide an easy to
read overview of the County’s overall fiscal health.
We hope you find the PAFR to be concise, informative, and easy to read. As you review this docu-
ment, we encourage you to share your thoughts with us, and value your input and comments.
This Popular Annual Financial Report was prepared by:
The County of Nash, North Carolina
Finance Office
120 W. Washington Street, Suite 3072
Nashville, NC 27856
(252)462-2402
Table of Contents
Letter from the Finance Officer ..................................... 3
Elected Officials and County Management..................... 4
County Directory of Officials ......................................... 5
Organizational Chart .................................................... 6
Nash County Profile ...................................................... 7
Nash County At a Glance .............................................. 8
Property Tax & County Operating Indicators ................. 9
Economic Overview .................................................... 10
Economic Development / Major Initiatives .................. 11
COVID-19 Pandemic ................................................... 12
County Financials (Government-wide) .................... 13-14
General Fund Financials ......................................... 15-16
Capital Assets ............................................................ 17
Long Term Liabilities and Debt ................................... 18
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Letter From Finance Officer
Dear Citizens of Nash County
Nash County continues to deal with the COVID-19 pandemic which remains one
of the most serious challenges of the current economic climate. The direct
impact to health and safety of our citizens, and Nash County’s roll in serving our
citizens needs, more than ever illustrates the demand for transparency into
county spending and operations. Therefore, I am pleased to present the Nash
County Popular Annual Financial Report (PAFR) for the fiscal year ended June 30,
2021. The purpose of this report is to provide an overview of the County’s
finances in a format that is readable and easy to understand.
The PAFR is designed to provide a summary of the County’s financial position as
well as an overview of economic, demographic, and other trends in the local
economy. The PAFR is prepared by the Nash County Finance Office, using
financial information taken from the 2021 Annual Comprehensive Financial
Report (ACFR).
The ACFR includes full financial statements and note disclosures for all County
funds and component units, prepared in accordance with Generally Accepted
Accounting Principles (GAAP). The ACFR was audited by Thompson, Price, Scott
Adams & Company, P.A. and received an unmodified opinion. For the citizens
wanting a more comprehensive review of the County’s financial information, the
County’s ACFR can be found on the Nash County website at https://
nashcountync.gov/DocumentCenter/View/7505/2021-ACFR.
The PAFR condenses and simplifies information found in the ACFR and is not
intended to replace the ACFR. Information in the PAFR is unaudited and is not
prepared in accordance with GAAP, due to its condensed and simplified
presentation.
We welcome your comments, questions and concerns; and we appreciate your
interest in the County and its financial information.
Sincerely,
Donna Wood
Director of Finance
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Elected Officials and County Management
Nash County is governed by a seven-member board of commissioners, elected by district for
staggered four-year terms. The governing board is responsible for policy-making and enforcing
ordinances, adoption of the annual budget, approving zoning and planning issues and other
matters related to the health and welfare of the County.
The Board meets the first Monday of each month at 9:00 a.m. in the Claude Mayo, Jr.
Administration Building in downtown Nashville, North Carolina. Meeting agendas are available
online at www.co.nash.nc.us under the Government / Commissioners’ link.
Keith Stone
Sheriff
Anne Melvin
Register of Deeds
District 1—Marvin Arrington
District 2—Fred Belfield, Jr.
District 3—Dan Cone
District 4—Sue Leggett
District 5—J, Wayne Outlaw, Vice-Chairman
District 6—Mary Wells
District 7—Robbie B. Davis, Chairman
(Seated left to right) Sue Leggett, Fred Belfield, Jr., Chairman Robbie B. Davis, County Manager Zee
Lamb, Mary Wells (Standing left to right) Vice-Chairman Wayne Outlaw, Marvin Arrington, Assistant
County Manager Stacie Shatzer, Clerk to the Board Janice Evans, Dan Cone, Attorney Vince Durham
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County Directory of Officials
Area of Service
Official
Phone
Number
County Manager Zee Lamb (252) 459-9800
Assistant County Manager Stacie Shatzer (252) 459-9800
Finance Donna Wood (252) 462-2402
Human Resources Anison Kirkland (252) 459-9853
Tax Doris Sumner (252) 459-9824
Information Technology Sandi Vick (252) 459-1235
Emergency Services Brian Brantley (252) 459-9805
Sheriff Keith Stone (252) 459-4121
Health/Solid Waste William Hill (252) 459-9819
Social Services Amy Hamlett (252) 459-9876
Planning/Inspections Adam Tyson (252) 459-9809
Utilities/Facilities Jonathan Boone (252) 462-2613
County Services & Grants Patsy McGhee (252) 462-2434
Senior Services Ashley Winstead (252) 459-2672
Parks and Recreation Thomas Gillespie (252) 459-2628
Elections John Kearney (252) 459-1350
Register of Deeds Anne Melvin (252) 459-9836
Soil Conservation Edward Long (252) 459-4115
Cooperative Extension Sandy Hall (252) 459-9810
Veteran Services Tyler Staverman (252) 462-2720
Economic Development Andy Hagy (252) 459-9868
Travel & Tourism Barbara Green (252) 972-5080
Directory of Officials and Areas of Service
The County’s website is a great
source for information about our
services, policies and events.
Residents can also take advantage
of many online services:
• Pay your tax or utility bill
• Look up property information
• Search County employment
opportunities
• Search Register of Deeds
records
• Board of Commissioner
agendas
• Meeting schedules
• Operating hours
• Forms and applications for
County services
• Register for Recreation & Senior
Services programs/events
• Sign up for CodeRed Alert
System
• Use the online deed search
• COVID-19 updates
• . . and more!
Stay Connected with Nash County
departments through social media:
www.facebook.com/nashcounty
www.youtube.com/nashcountync
www.twitter.com/nashcountync
Nash County
120 W. Washington Street
Suite 3072
Nashville, NC 27856
(252) 459-9800
Visit Nash County’s Website at www.nashcountync.gov
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Organizational Chart
(1) Elected Office (2) Governed by Boards
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Nash County Profile
The Government Finance Officers Association of the
United States and Canada (GFOA) has given an Award
for Outstanding Achievement in Popular Annual
Financial Reporting to Nash County for its Popular
Annual Financial Report for the fiscal year ended June
30, 2020. The Award for Outstanding Achievement in
Popular Annual Financial Reporting is a prestigious
national award recognizing conformance with the
highest standards for preparation of state and local
government popular reports.
In order to receive an Award of Outstanding
Achievement in Popular Annual Financial Reporting, a
government unit must publish a Popular Annual
Financial Report, whose contents conform to program
standards of creativity, presentation, understandability
and reader appeal.
An Award for Outstanding Achievement in Popular
Annual Financial Reporting is valid for a period of one
year only. Nash County has received a Popular Award
for 13 previous years. We believe our current report
continues to conform to the Popular Annual Financial
Reporting standards.
Nash County, situated on the border of North
Carolina’s piedmont and coastal plain divisions,
is 30 miles east of Raleigh and in the north
central part of North Carolina.
Established in 1777, the County covers 543
square miles and serves a population of about
96,907. Eleven municipalities are located within
the County, the largest being the City of Rocky
Mount with a population of 54,916. Nashville is
the second largest municipality with a
population of 5,559 and serves as the county
seat.
Nash County provides its citizens with a wide
range of services that include general
administration, public safety, economic
development, human services, cultural,
operation of solid waste disposal and water and
sewer infrastructures as well as other services.
The County also extends financial support to
certain boards, agencies, and commissions to
assist their efforts to serve citizens. Among
these are the Nash County Public School Board
of Education, Nash Community College and
Braswell Memorial Public Library.
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Nash County
Principal Private Employers
Company Industry
Pfizer, Inc. pharmaceuticals
Nash County Public Schools public school system
Nash Health Care Systems hospital
Cummins, Inc. advance manufacturer
Nash County local government
McLane Mid-Atlantic logistics & distribution
Wal-Mart Supercenter retail
PNC Bank banking
Universal Leaf North America NC agriculture processing
NC Department of Transportation all NC transportation
Nash County At A Glance
Population 96,907
Public School Enrollment
14,590
Median Household Income
$49,537
Average Unemployment Rate 6.5%
(State Average 4.9%)
Median Age 42.0
Average Annual Snowfall
2.96 inches
Average Temperature
High 71 F
Low 48 F
Average Annual
Rainfall
45 inches
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Property Tax
The property tax rate following revaluation in 2017 remained
at $0.67 per $100 of valuation for the 12th year, lower than
all our neighboring counties. The County’s next revaluation
will be in 2025.
Property taxes are the largest revenue source for general
fund activities, representing approximately 56.5% of the total
resources received. The County’s taxable assessed value
was $8,139,466,120 at June 30, 2021 with a tax collection
percent of 99.16%.
2020-21 Tax Rate
Nash ....................... ...$0.6700
Edgecombe .................. 0.9500
Franklin ........................ 0.8050
Halifax ......................... 0.7600
Johnston ...................... 0.7600
Wilson .......................... 0.7300
County Operating Indicators by Function
Nash County’s Net Property Tax Levy for Fiscal Year 2021 was $54,548,476. The County
collected 99.16%, an increase of 0.10% over the prior year collection of 99.06%.
Public Safety 2021 2020 Economic Development 2021 2020
Sherriff Permits issued (building,
Physical arrests 2,106 1,337 electrical, mechanical, plumbing)4,270 3,649
Serving civil papers New residential construction (units)452 362
(evictions,executions, court)7,224 10,575 New commercial construction (units)27 25
Traffic violations/citations 1,240 1,008 Building inspections performed 10,661 9,155
Cases in review by investigations 858 979 Soilid Waste
Cases closed/cleared 607 710 Refuse collected (tons/day)79.5 58.3
Calls for service 25,354 25,892
Transports 446 1,485 Utilities
Emergency Services Water
Number incoming/outbound calls 152,687 152,422 Total water customers 3,725 3,319
Number of calls for service Water main breaks 7 3
dispatched from 911 Center 78,926 73,420 Average daily consumption
Public education events 2 2 (thousands of gallons)430 406
Fire Sewer
Inspections 1,183 1,344 Total sewer customers 234 224
Number of fire investigations 25 23 Average daily sewage treatment
Plans review 60 68 (thousands of gallons)113 126
Assist Fire Departments 78 77
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Economic Overview
Local Economy
Nash County’s unemployment rate decreased
2.4% from June 2020 (8.9%) to June 2021 (6.5%).
The County also realized an increase in new
residential construction units of 25%. According
to the N.C. Office of State Budget and
Management, population increased slightly to
96,907 from 95,923.
The local economy of Nash County is well
diversified with manufacturing (19.7%), health
care & social assistance (14.3%), retail trade
(13.2%), accommodations & food services (9.3%),
and education services (7.4%) comprising the
largest sectors of employment.
Nash County retail sales increased by an
estimated 7% from $1.10 billion in total sales
during 2020 to $1.19 billion in FY21.
Major manufacturing operations in Nash County
include Cummins, Inc., a diesel engine
manufacturer, Universal Leaf North America NC,
Inc., a tobacco processing plant, Pfizer, Inc., a
pharmaceutical manufacturer and Kaba Ilco-
Unican Corporation, a security lock and
aerospace manufacturer. Nash County also had
several project announcements in fiscal year
2021 including Cummins Rocky Mount Engine
Plant with a $42 million capital investment
expansion and the addition of 400 new jobs at
the new North Carolina DMV Headquarters
location in Rocky Mount. In addition, the county
saw 129 new jobs announced and $33.7 million
in investment through other existing industry
expansion.
Agriculture
Nash County is home to more than 425 farming
operations of various sizes. Just over 40% of the
counties 345,751 acre land area is farmland.
Approximately two-thirds of Nash crop land is
owned by non-farming landowners who lease
their land to active farmers.
Crop production in Nash County ranks seventh
statewide with a value of approximately $90
million in cash receipts and ranks fifth in
vegetable, fruits and nut production. Nash County’s highest valued agricultural
commodities continue to be poultry and eggs
followed by flu-cured tobacco and sweet
potatoes close behind. Swine has been Nash
County’s fastest growing commodity. Overall
agriculture production (field crops, livestock,
dairy and poultry combined) generated $149
million in cash receipts.
Nash County manages a regional farmers market
for area farmers providing a storefront for over
80 local farmer-vendors. This market welcomed
more than 37,700 customer visits in 2021. The
Farmers Market began a Community Supported
Agriculture (CSA) food box distribution in 2021,
funded through Upper Coastal Plain Council of
Governments Area Agency on Aging. These are
locally sourced food boxes available to disabled
and older adults age 60 and over. The weekly
boxes feature seasonal produce, fruits, meat,
grain items along with educational nutritional
materials, preparation and storing tips, and
simple recipes. Farmers Market hours:
April—November
Saturdays 8:00 am to 1:00 pm
June-August
Tuesdays 3:00 pm to 6:00 pm
Saturdays 8:00 am to 1 pm
Check the Nash County website for special event
dates and times.
Crops Acreage
Soy Beans 29,410
Cotton 6,949
Sweet Potatoes 9,467
Flue-Curec Tobacco 6,746
Wheat 4,637
Nash County Crop Production
Fiscal Year 2021
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Economic Development / Major Initiatives
Economic and Community Development
Middlesex Corporate Center: Nash County
and the Town of Middlesex are working to
extend the paved section of Corporation
Parkway, water lines, sewer lines and build a
water tank in Middlesex Corporate Centre.
Projects scheduled for completion by October
2021.
High Speed Internet: Nash County entered
into a public private partnership with
CloudWyze, a private provider, to expand high
speed internet access to the unserved and
underserved areas of the County. Phase 2 was
completed in the Spring of 2021. Phase 3 was
approved during FY21 and is expected to be
complete in Fall 2022. This phase includes a
grant to the provider from the NC Broadband
Infrastructure Office ($686,971). The County is
also seeking grants to move forward with future
projects (fiber and wireless).
Community Development Block Grant (CDBG)-
Coronavirus: Nash County was awarded a
$900,000 CDBG-Coronavirus Grant with three
parts consisting of subsistence payments for
rent, mortgage, and/or utility payments of up to
$1,000 each for qualifying applicants, WIFI
Zones in qualifying census tracts and
handwashing stations.
Major Initiatives:
General
American Rescue Plan Act (ARPA): On March
11, 2021, the American Resuce Plan Act was
signed into law, and established the Coronavirus
Local Fiscal Recovery Funds, which together
make up the Coronavirus State and Local Fiscal
Recovery Funds (SLFRF) program. This program
is intended to provide support to State,
territorial, local, and Tribal governments in
responding to the economic and public health
impacts of COVID-19 and in their efforts to
contain impacts on their communities, residents,
and businesses. Nash County received the first
half of the $18,316,281 in May 2021 with the
remaining to be received in May 2022. The
County Manager appointed a committee to begin
discussion on use of funds in Nash County.
Utilities
Northern Nash Water System (NNWS): Progress
continues on Phase 1 of the NNWS water line
extension project, extending water lines to areas
within the Towns of Red Oak and
Dortches. Construction on the
project began in May of 2019 and
completion is expected by
December 2021.
Education
New Elementary School Project:
The new elementary school will
consolidate three existing
elementary schools in the
Northern Nash area of Nash
County into one elementary
school with the capability to
accommodate up to 800
students. The Nash County Public School Board
selected Oakley Collier Architects, P.A. as the
design consultant and H.G. Reynolds Company
Inc. for the construction project with a proposed
completion by May 2022.
Public Safety
Animal Control Facility Project: Nash County
acquired a 23 acre tract of land on the north side
of Eastern Avenue adjacent to Nash Community
College to accommodate future expansion of the
college and to construct a new Animal Facility.
The project should be advertised for
construction in early 2022.
Jail Renovation and Expansion Project: In May
2020 Nash County approved Mosley Architects
as the design consultant for the renovation and
expansion of Nash County’s Detention Center.
Project awarded to Daniels & Daniels
Construction with construction anticipated to
begin in January 2022 and final completion
anticipated for December 2023.
Nash County Jail Expansion
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COVID-19 Pandemic
Coronavirus Disease (COVID-19)
As documented by NC DHHS, COVID-19 is an international, national and North Carolina public
health emergency. It was identified in late 2019 and was declared a pandemic on March 11, 2020.
Older adults and people who have severe chronic medical conditions like heart, lung or kidney dis-
ease and those with weakened immune systems seem to be at higher risk for more serious COVID-
19 illness.
Since the declaration of the pandemic in March 2020, Nash County has worked to offset the spread
of the disease. In addition to the ARPA funds received, the next largest grant Nash County received
was the Federal CARES Grant totaling $3,615,730. Of these funds, $898,435 were dispersed to lo-
cal Municipalities, $250,000 to Nash Hospital, $12,000 to non-profit organizations, $426,584 for
paid COVID-19 related sick leave and facility compliance, $1,023,520 for COVID-19 dedicated em-
ployees and overtime hours, and $476,268 spent toward personal protective equipment, partitions
for social distancing, thermal temperature monitoring, and renovations to buildings to establish a
main entryway check in monitoring station. All remaining funds will be spent by December 2021.
Nash County Health Department made vaccines available in January 2021 to all eligible citizens by
using drive-thru vaccination sites in an effort to vaccinate as many citizens as possible in the quick-
est manner. Approximately 40,000 citizens had been vaccinated by June 30, 2021 which includes
84% of Nash County population over age 75, 81% age 65-74, 59% age 50-64, 38% age 25-49, 26%
age 18-24 and 12% age 12-17.
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County Financials (Government-wide Financial Statements)
Government-wide financial statements consider Nash County as a single, integrated
unit. These statements distinguish between two types of units: governmental and
business-type activities.
Governmental activities generally are financed through taxes and other general revenue
sources while business-type activities are financed in whole or in part by fees charged to
external parties for the services provided. The government-wide statements employ the
full accrual basis of accounting.
The Statement of Net Position presents the difference between what we own (Assets and
Deferred Outflows of Resources) and what we owe (Liabilities and Deferred Inflows of
Resources). For Nash County you will notice the liabilities in the governmental fund
outweigh the assets as of June 30, 2021 excluding the deferred inflows and deferred
outflows due primarily to GASB 75 implementation for Other Post-Employment Benefits
(OPEB) reporting the unfunded actuarial accrued liability on the balance sheet. The net
position for Governmental Activities and Business-type Activities increased by $7.2 million
and $0.3 million respectively as of June 30, 2021.
STATEMENT OF NET POSITION (in millions)
Primary Government
2021 2020 2019 2021 2020 2019 2021 2020 2019
Current and Other Assets $85.0 $62.5 $61.9 $9.4 $8.5 $7.9 $94.4 $71.0 $69.8
Capital Assets 65.5 63.5 63.9 39.6 37.7 33.2 105.1 101.2 97.1
TOTAL ASSETS 150.5 126 125.8 49.0 46.2 41.1 $199.5 172.2 166.9
DEFERRED OUTFLOWS 23.1 12.8 11.0 0.5 0.3 0.3 23.6 13.1 11.3
OF RESOURCES 23.1 12.8 11.0 0.5 0.3 0.3 23.6 13.1 11.3
(Consumption of net assets applicable
to a future reporting period.)
Long Term Liabilities 142.2 122.2 120.7 23.9 21 17.8 166.1 143.2 138.5
Other Liabilities 13.1 5.6 3.8 0.7 0.9 0.7 13.8 6.5 4.5
TOTAL LIABILITIES 155.3 127.8 124.5 24.6 21.9 18.5 179.9 149.7 143.0
DEFERRED INFLOWS 8.6 8.6 11 0.2 0.2 0.30 8.8 8.8 11.3
OF RESOURCES 8.6 8.6 11 0.2 0.2 0.30 8.8 8.8 11.3
(Acquisition of net assets applicable
to a future reporting period.)
NET POSITION:
Net Investment in Capital Assets 50.6 47.6 45.9 21.2 21.9 20.5 71.8 69.5 66.4
Restricted 30.4 14.4 15 0.2 - - 30.6 14.4 15.0
Unrestricted (71.30) (59.50) (59.50) 3.2 2.4 2.10 (68.1) (57.1) (57.4)
TOTAL NET POSITION $9.7 $2.5 $1.4 $24.6 $24.3 $22.6 $34.3 $26.8 $24.0
Governmental
Activities Activities
Business-type
Total
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County Financials (Government-wide Financial Statements)
The Statement of Activities presents information showing how the County’s net
position changed during the last three fiscal years. Governmental activities increased the
County’s net position by $7,229,136 from FY2020. Key elements of the increase include
sales tax growth of $2,339,145 and property tax increase of $2,240,976 over fiscal year
2020, respectively. These revenue increases were offset by additional operating expenses
primarily due to changes in pension expense and capital outlay put in service in FY2019.
Overall the County continues to be diligent in maintaining spending.
STATEMENT OF ACTIVITIES (in millions)
Primary Government
2021 2020 2019 2021 2020 2019 2021 2020 2019
REVENUES:
Program revenues
Charges for services $8.1 $6.8 $7.1 $6.3 $5.8 $5.6 $14.4 $12.6 $12.7
Operating grants/contributions 21.3 19.0 19.0 - - - 21.3 19.0 19.0
Capital grants/contributions 4.0 0.4 1.1 0.4 2.1 0.9 4.4 2.5 2.0
General revenues
Property taxes 58.9 56.7 54.8 - - - 58.9 56.7 54.8
Other taxes 19.2 16.7 16.4 0.2 0.2 0.2 19.4 16.9 16.6
Other 2.3 1.9 3.0 - 0.1 0.2 2.3 2.0 3.2
TOTAL REVENUES 113.8 101.5 101.4 6.9 8.2 6.9 120.7 109.7 108.3
EXPENSES:
General government 11.7 10.6 10.1 - - - 11.7 10.6 10.1
Public safety 30.4 30.5 27.1 - - - 30.4 30.5 27.1
Transportation 0.2 0.5 0.3 - - - 0.2 0.5 0.3
Economic & physical development 9.0 7.1 7.4 - - - 9.0 7.1 7.4
Human services 26.9 23.2 22.8 - - - 26.9 23.2 22.8
Cultural 2.1 2.1 1.1 - - - 2.1 2.1 1.1
Education 25.1 25.1 25.1 - - - 25.1 25.1 25.1
Interest on long-term debt 1.2 1.3 1.5 - - - 1.2 1.3 1.5
Water and sewer - - - 3.4 3.3 3.4 3.4 3.3 3.4
Solid waste disposal - - - 3.3 3.2 2.8 3.3 3.2 2.8
TOTAL EXPENSES 106.6 100.4 95.4 6.7 6.5 6.2 113.3 106.9 101.6
Transfers 0.0 0.0 0.0 0.0 0.0 0.0 - - -
Increase (Decrease in net position)7.2 1.1 6.0 0.3 1.7 0.7 7.5 2.8 6.7
Change in net position 7.2 1.1 6.0 0.3 1.7 0.7 7.5 2.8 6.7
NET POSITION:
Beginning of Year - July 1 2.5 1.4 (4.6)24.3 22.6 21.9 26.8 24.0 17.3
Restatement 0.0 - - - - - 0.0 0.0 0.0
Beginning of Year - Restated 2.5 1.4 (4.6) 24.3 22.6 21.9 26.8 24.0 17.3
End of Year - June 30 $9.7 $2.5 $1.4 $24.6 $24.3 $22.6 $34.3 $26.8 $24.0
Governmental
Activities
Business-type
Activities Total
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The County has adopted a minimum fund balance pol-
icy for the General Fund which instructs management
to conduct business in such a manner that available
fund balance is at least equal to or greater than 15%
of General Fund expenditures. In the event of an
emergency of approved one-time use of fund balance
in which the reserve falls below the recommended
percentage of 15%, the County will adopt a plan to
replenish the reserve to the policy standard within 36
months.
General Fund Financials
The General Fund, which is part of the
government wide Financials, accounts
for funding and expenditures on a
modified accrual basis. It is the
county’s primary operating fund. It
accounts for all financial resources of
the general government, with the
exception of those required to be
accounted for in different funds, such
as business type activities.
The General Fund total expenditures
were $92,123,067 which does not
include $1,879,732 transferred to
other projects funds during the year
as other financing uses.
The major initiative funded through
General Funds in FY 20/21 was the
High Speed Internet Project Phase 3.
Overall, general fund revenues
exceeded expenditures and other
funding uses resulting in the current
year increase in fund balance of
$4,595,585.
In the governmental fund financial
statements, fund balance is
composed of classifications as noted
below, which are designed to disclose
the hierarchy of constraints placed on
how fund balance can be spent or
used. Unassigned fund balance is the
least restrictive and can be used for
any purpose. The General Fund
unassigned fund balance at the end
of fiscal year 2021 totaled
$23,932,442, an amount equal to
25.98% of Total General Fund
expenditures.
Non-Spendable 18,818$
Restricted 14,969,022$
Committed 1,051,516$
Assigned 6,851,718$
Unassigned 23,932,442$
46,823,516$
FUND BALANCE
2021 2020 2019
Revenues:
Ad valorem taxes $55.1 $53.1 $51.6
Other taxes and licenses 19.2 16.6 16.3
Restricted intergovernmental 14.3 15.0 15.8
Unrestricted intergovernmental 0.4 0.4 0.3
Permits and fees 1.5 1.2 1.2
Sales and services 4.4 4.7 5.0
Investment earnings 0.1 0.6 0.9
Miscellaneous 2.6 1.2 2.8
Total revenues 97.6 92.8 93.9
Expenditures:
Current:
General government 10.9 9.6 9.2
Public safety 23.1 23.5 23.9
Transportation 0.1 0.3 0.2
Economic & physical development 3.3 3.4 3.0
Human services 21.9 22.5 22.2
Cultural and recreation 2.1 2.1 1.9
Education 24.7 24.9 24.4
Debt service 6.0 6.3 6.3
Total expenditures 92.1 92.6 91.1
Revenues over (under) expenditures 5.5 0.2 2.8
Other Financing Sources (Uses):
Transfers in/(out)(0.9)(1.3)(2.2)
Refunding bonds issued 0.0 0.0 0.0
Payment to refunded bond escrow 0.0 0.0 0.0
Total other financing sources (uses)(0.9)(1.3)(2.2)
Increase (Decrease) in fund balances 4.6 (1.1)0.6
Beginning of year - July 1 42.2 43.3 42.7
End of year - June 30 $46.8 $42.2 $43.3
Revenues, Expenditures and Changes in
Fund Balance (in millions)
General Fund
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General Fund (Revenues)
Revenue: Total General Fund revenues for FY 2020-2021 were $97,603,710. The property tax rate
remained the same as prior year at $ .67 per $100 of assessed value. Property taxes, which also
include taxes on registered motor vehicles, account for 56.5% of all revenues. Other taxes, which
include the County’s share of statewide sales tax and property excise tax and rental vehicle tax
revenue, is the second largest revenue source making up 19.6% of all revenues in the General Fund.
This category of revenues was boosted through continued improvement in the local economy and
changes to the services to which sales tax is applicable. Restricted Intergovernmental, which is
revenue received from other governments that must be used for a specific purpose, makes up 14.7%.
The County also received 4.5% from sales and services which, are fees that Nash County charges for
certain services, and 1.5% of its revenues from permits and fees.
General Fund (Expenditures)
Where the Money Comes From:
(in millions)
Ad Valorem Taxes $55.1
Other Taxes and Licenses 19.2
Restricted Intergovernmental 14.3
Unrestricted Intergovernmental 0.4
Permits and Fees 1.5
Sales and Services 4.3
Investment Earnings 0.1
Miscellaneous 2.6
Total Revenues $97.6
Expenses: The total cost of General Fund programs and services was $92,123,067. General Fund
Expenditures are considered by function. The functional cost of Education funding to Nash County
Public Schools and Nash Community College (excluding debt service) accounted for 26.8% of
expenditures, Human Service programs accounted for 23.8% of expenditures, Public Safety programs
accounted for 25.0% of expenditures, General Government functions accounted for 11.8%, while Debt
Service accounted for 6.5%. The other function areas include, Economic & Physical Development,
Culture & Recreation, and Transportation making up the remaining 6.0% of program and service
expenditures.
Where the Money Goes:
(in millions)
General Government $10.9
Public Safety 23.1
Cultural & Recreation 2.1
Transportation 0.1
Economic & Physical Development 3.3
Human Services 21.9
Education 24.7
Debt Service 6.0
Total $92.1
17
Capital Assets
Nash County’s capital assets for its governmental and business-type activities as of June 30, 2021,
total $105,034,190 (net of accumulated depreciation). These assets include land and
improvement, buildings, infrastructure, furniture and equipment, vehicles, and construction in
progress.
Governmental Business-type
Activities Activities Total
Land and improvements $10,451,149 $761,264 $11,212,413
Buildings $43,918,794 $10,788 $43,929,582
Infrastructure $817,671 $30,430,604 $31,248,275
Furniture and equipment $3,692,918 $16,747 $3,709,665
Vehicles $1,585,165 $21,445 $1,606,610
Construction in progress $3,064,754 $6,374,665 $9,439,419
Total $63,530,451 $37,615,513 $101,145,964
Nash County's Capital Assets
Governmental Business-type
Activities Activities Total
Land and improvements $11,390,578 $644,662 $12,035,240
Buildings $42,955,061 $10,471 $42,965,532
Infrastructure $786,165 $29,547,612 $30,333,777
Furniture and equipment $3,871,878 $230,894 $4,102,772
Vehicles $1,428,013 $14,973 $1,442,986
Construction in progress $5,048,564 $9,105,319 $14,153,883
Total $65,480,259 $39,553,931 $105,034,190
Nash County's Capital Assets
18
Long-Term Liabilities and Debt
As of June 30, 2021, the County’s long-
term liabilities for its governmental and
business -type activities were
$142,203,061 and $17,734,386,
respectively, which includes long-term
debt, compensated absences, pension
benefits and other post-employment
benefits (OPEB).
Nash County had total debt outstanding
of $64,816,196. This amount was
comprised of $52,689,096 from Nash
County Governmental Activities and,
$12,127,100 Business-Type Activities
from Water & Sewer Utilities Enterprise
Fund. Of the total debt outstanding,
$17,423,000 (26.89%) represents bonds
secured by specified collateral sources-
General Obligation Bonds in the amount
of $6,045,000 from Governmental
Activities and Refunded USDA General
Obligation Bonds outstanding of
$11,378,000 for Central Nash Water &
Sewer.
Credit Ratings Maintained
by the County
Aa2 Moody’s Investors Services
AA- Standard & Poor’s
The State of North Carolina limits the amount of general obligation debt that a unit of government
can issue to 8 percent of the total assessed value of taxable property located within that
government’s boundaries. The legal debt margin for Nash County is $633,734,290 for FY2021
which is significantly more than Nash County’s general obligation debt.
Nash County’s Governmental Activities include long-term debt is used for Education, Economic
Development, Public Safety and General Government. Of the outstanding long-term debt, the
category of Education makes up 74% or $38,511,303 with $32,466,303 for Nash County Public
School Projects and $6,045,000 for Nash Community College Projects. General Government makes
up 21% or $10,959,000 (which includes the Courthouse Expansion), Economic Development is 1% or
$340,000 and Public Safety is 5% or $2,645,000 of Governmental Outstanding Debt as of June 30,
2021.
Nash County’s debt per capita as of June 30, 2021 is $733. This is an 11.2% increase in debt per
capita from the prior fiscal year.
19
Adopt and Help Save A Life
The Nash County Animal Shelter is the perfect place to find
dogs and cats who are waiting for a forever home!
Please Visit
Petfinder.com
Or meet your new pet in person at
921 First St. Extension, Nashville, NC