HomeMy WebLinkAboutTown of Garner - Public Financial ReportPopular Annual Financial Report
For the fiscal year ended June 30, 2021
®
2 | POPULAR ANNUAL FINANCIAL REPORT 2021
garnernc.gov
PAFR Award 4
FY 2020-21 Milestones 8-9
Garner at a Glance 6-7
Fund Balance 13
The Town’s Net Position 11
Organizational Chart/Strategic Goals 5
FY 2020-21 Financial Highlights 10
Capital Projects/Long-Term Debt 14
Revenues and Expenditures 12-13
Message from Mayor/Garner’s Elected Body 3
Important Contacts 15
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garnernc.gov
4 | POPULAR ANNUAL FINANCIAL REPORT 2021
garnernc.gov
Government Finance Officers Association
Award for
Outstanding Achievement in
Popular Annual Financial Reporting
Presented to
Town of Garner
North Carolina
For its Annual Financial Report
for the Fiscal Year Ended June 30, 2020
Executive Director/CEO
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r
s
garnernc.gov
Wake Tech
7 miles
Port of Wilmington
2 hours
UNC Chapel Hill
30 miles
Duke University
32 miles Research Triangle Park 20 miles RDU Int’l Airport 17 miles
Downtown Raleigh 5 miles NC State University
7 miles
NC Mountains
3.5 hours
NC Beaches
2 hoursGARNER
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garnernc.gov
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garnernc.gov
34,870
POPULATION
13,575
NUMBER OF RESIDENTIAL UNITS
39.3
PERCENT OF RESIDENTS WITH BACHELOR’S DEGREE OR HIGHER
$65,064
MEDIAN HOUSEHOLD INCOME
Sources: Garner Planning Dept., U.S. Census Bureau
By the Numbers
garnernc.gov
Amazon fulfillment center opening
Open Space Purchase
GEDC Scholarship Endowment
—Jeff Swain, Garner Economic Development
Corporation (GEDC) chair, announcing new scholarship endowment
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Amazon fulfillment center opening
Launch Garner
Wake County VA Outpatient Clinic
garnernc.gov
POPULAR ANNUAL FINANCIAL REPORT 2021 | 9
garnernc.gov
10 | POPULAR ANNUAL FINANCIAL REPORT 2021
General Fund Budgetary Highlights
Capital Projects Fund Budgetary Highlights
The fund balance of the capital projects fund decreased by $3.7 million in FY 20-21 due in part to ongoing street and sidewalk improvements work.
FY 18-19 FY 19-20 FY 20-21
Assets $133,138,590 $138,965,232 $141,361,788
Deferred outflows of resources (e.g. Town’s share of future pension expenses)
Liabilities 63,781,739 71,120,725 75,872,342
Deferred inflows of resources (e.g. property taxes paid in advance)
NET POSITION $70,837,977 $70,238,981 $71,644,468
Garner’s Net Position (Three-Year Trend)
garnernc.gov
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Net Position by Fiscal Year
$75
$100
$50
$25
13-14 14-15 15-16 16-17 17-18 18-19 19-20 20-210
13-14 85.65
14-15 85.69
15-16 86.2
16-17 83.87
17-18 71.39
18-19 70.84
19-20 70.24
20-21 71.64
71.64
85.65 85.69 86.20 83.87
71.39 70.84 70.24
FY 20-21 Budget Breakdown by Percentages
General Fund Revenues (Three-Year Trend)
FY 18-19 FY 19-20 FY 20-21
Property taxes
Other taxes and licenses
Intergovernmental revenues
Permits and fees
Sales and services
Investment earnings
Other revenues
TOTAL $34,260,442 $35,819,180 $40,012,836
garnernc.gov
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property taxes 60.5
other taxes 21.3
intergov 10.3
permits and fees 5.8
sales/services 1.2
investments 0.1
other revenues 0.8
Transportation incl. street maintenance (13.5%)
Environmental protection incl. solid waste (5.6%)
Debt service (9.9%)
general gov 23.2
public safety 38.8
transportation 13.5
environmental protection 5.6
cultural/recreational 9
debt service 9.9
Property taxes (60.5%)
Other taxes (21.3%)
Intergov. revenues (10.3%)
Permits/fees (5.8%)
Sales/services (1.2%)
Investment earnings/other (0.9%)
General government (23.2%)
Cultural/ recreational (9.0%)
Public safety (38.8%)
General Fund Expenditures (Three-Year Trend)
FY 18-19 FY 19-20 FY 20-21
General government
Public safety (police and fire)
Transportation (incl. street maintenance)
Environmental protection (incl. solid waste and recycling)
Cultural/recreational
Debt service
TOTAL $35,423,212 $39,078,904 $40,324,599
Categories of Fund Balancein FY 20-21
Nonspendable
Restricted
Committed
Assigned
Unassigned
TOTAL $29,664,422
garnernc.gov
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O
General government (23.2%)
AAA (Extremely Strong)
Aa1 (Extremely Strong)
Garner’s GO Bond Ratings
FY 18-19 FY 19-20 FY 20-21
General obligation bonds
Installment financing agreements
TOTAL $36,563,617 $41,323,222 $39,526,223
garnernc.gov
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Long-Term Debt(Three-Year Trend)
Town Hall (main line/directory) 919.772.4688
Mayor’s Office 919.773.4404
Town Manager’s Office 919.773.4407
Town Clerk’s Office 919.773.4406
Finance Department 919.773.4408
Economic Development Department 919.773.4431
Engineering Department 919.773.4425
Inspections Department 919.773.4433
Planning Department 919.773.4449
Police Department (administrative office) 919.772.8810
Public Works Department 919.772.7600
Garner Fire-Rescue (administrative office) 919.772.1550
Downtown Development Manager 919.773.4402
Garner Chamber of Commerce 919.772.6440
Garner Performing Arts Center 919.661.4602
White Deer Park Nature Center 919.661.6982
For emergencies, or to have a police officer make a service call,
please always dial 911.
garnernc.gov
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