Macon County NC Comprehensive Financial Audit Report - June 30, 2013

MACON COUNTY
NORTH CAROLINA
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2013

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MACON COUNTY
NORTH CAROLINA
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
Prepared by: Finance Department
Finance Director: Lori M. Hall

Page
Letter of Transmittal 1-5
Organizational Chart 6
List of Principal Officials 7
2012 GFOA Certificate of Achievement
for Excellence in Financial Reporting 8
Financial Section:
Independent Auditors Report 9-11
Managements Discussion and Analysis 12-20
Exhibit Basic Financial Statements - Overview
Government-Wide Financial Statements:
A Statement of Net Position 21
B Statement of Activities 22-23
Fund Financial Statements:
C Balance Sheet - Governmental Funds 24
D Statement of Revenues, Expenditures, and Changes
in Fund Balances - Governmental Funds 25
E Reconciliation of the Statement of Revenues, Expenditures,
and Changes in Fund Balances - Governmental Funds to
the Statement of Activities 26
F Statement of Revenues, Expenditures, and Changes in
in Fund Balance - Budget and Actual - General Fund 27
G Statement of Net Position - Proprietary Funds 28
Introductory Section
COMPREHENSIVE ANNUAL FINANCIAL REPORT
MACON COUNTY, NORTH CAROLINA
TABLE OF CONTENTS
TABLE OF CONTENTS
Exhibit Page
Fund Financial Statements - continued:
H Statement of Revenues, Expenses, and Changes
in Fund Net Position - Proprietary Funds 29
I Statement of Cash Flows - Proprietary Funds 30
J Statement of Fiduciary Net Position - Fiduciary Fund 31
Notes to the Financial Statements 32-65
Required Supplementary Financial Data:
A-1 Law Enforcement Officers Special Separation Allowance 66
A-2 Other Post-Employment Benefits - Retiree Health Plan 67
Supplementary Information:
General Fund:
B-1 Schedule of Revenues, Expenditures, and Changes
in Fund Balance - Budget and Actual 68-80
Nonmajor Governmental Funds:
C-1 Combining Balance Sheet 81
C-2 Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances 82
Nonmajor Special Revenue Funds:
D-1 Combining Balance Sheet 83
D-2 Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances 84
D-3 Emergency Telephone System Fund:
Schedule of Revenues, Expenditures, and Changes
in Fund Balance - Budget and Actual 85
TABLE OF CONTENTS
Schedule Page
Supplementary Information - continued:
Nonmajor Special Revenue Funds - continued:
D-4 Fire Districts Fund:
D-5 Housing Grants Fund:
Schedule of Revenues and Expenditures -
Budget and Actual 87
Major Capital Projects Funds:
E-1 Consolidated Capital Projects:
Nonmajor Capital Projects Funds:
E-2 Combining Balance Sheet 89-90
E-3 Combining Statement of Revenues, Expenditures,
and Changes in Fund Balance 91-92
E-4 Airport Improvements Fund:
E-5 County Building Projects:
TABLE OF CONTENTS
Schedule Page
Nonmajor Capital Projects Funds - continued:
E-6 Riverbend Estates Waterline Project:
E-7 Little Tennessee River/Cartoogechaye
Creek Sewer Trunk Project:
E-8 Schools Capital Fund:
E-9 Capital Reserve Fund:
Enterprise Fund:
F-1 Solid Waste Fund:
Budget and Actual (Non-GAAP) 99-100
Internal Service Fund:
G-1 Nonmajor Self-Insurance Fund -
Statement of Net Position 101
Schedule of Revenues, Expenses, and Changes
in Fund Net Position - Financial Plan and Actual 102
Statement of Cash Flows 103
TABLE OF CONTENTS
Schedule Page
Agency Funds:
H-1 Combining Balance Sheet 104-105
H-2 Combining Statement of Changes in Assets and Liabilities 106-107
Debt Service Fund:
I-1 Schedule of Revenues, Expenditures, and Changes
Additional Financial Data:
J-1 Schedule of Ad Valorem Taxes Receivable -
General Fund 109
J-2 Analysis of Current Tax Levy -
County-Wide Levy 110
J-3 Schedule of Ad Valorem Taxes Receivable -
Fire Districts 111
J-4 Analysis of Current Tax Levy - Fire Districts 112
Table
Statistical Section:
1 Net Position by Components 113
2 Changes in Net Position 114-115
3 Governmental Activities Tax Revenues By Source 116
4 Fund Balances of Governmental Funds 117
5 Changes in Fund Balances of Governmental Funds 118
TABLE OF CONTENTS
Table Page
Statistical Section - Continued:
6 Assessed Value and Estimated Actual Value of
Taxable Property 119
7 Property Tax Rates, Direct and Overlapping Governments 120
8 Principal Property Taxpayers 121
9 Property Tax Levies and Collections 122
10 Ratio of Outstanding Debt by Type 123
11 Ratios of General Bonded Debt Outstanding 124
12 Direct and Overlapping Governmental Activities Debt 125
13 Legal Debt Margin Information 126
14 Demographic and Economic Statistics 127
15 Principal Employers 128
16 Full-Time Equivalent County Government Employees
by Function 129
17 Operating Indicators by Function 130
18 Capital Asset Statistics by Function 131
INTRODUCTORY SECTION

1. County departments whose main function is overall county government support.
2. County departments that have shared resources, supervision and/or local boards;
3. All other county departments are headed by elected officials.
Macon County Government
Macon County Board of Commissioners
County Managers Office
Social Services
Health Department
Cooperative Extension Service
Board of Elections
Register of Deeds
Sheriffs Department
Soil Conservation
Criminal Justice
Tax Department
Building & Grounds
Housing
Emergency Management
Legal Services
HR/Deputy Clerk
Finance Department
Information Technology
Veterans Services
Garage
Solid Waste
Recreation Department
Transit Services
Permitting, Planning &
Development
Staff Support
1
Shared Authority
2
Direct Line
3
6
List of Principal Officials
June 30, 2013
Board of Commissioners
Kevin Corbin, Chairman
Ronnie Beale, Vice-Chairman
Ron Haven, Commissioner
Paul Hidgon, Commissioner
Jimmy Tate, Commissioner
Principal Officials
Mike Decker, Interim County Manager/Human Resources Director
Lori M. Hall, Finance Director
Chester Jones, County Attorney
Richard Lightner, Tax Supervisor
Margaret D. Perry, Tax Collector
Jack Morgan, Permitting, Planning, and Development Director
Kim M. Bishop, Board of Elections Director
Todd Raby, Register of Deeds
Andy Muncey, Information Technology Director
Steve Ledford, Buildings and Grounds Director
Robert L. Holland, Sheriff
David Key, Emergency Medical Services Director
John Hook, Animal Control Director
M. Chris Stahl, Solid Waste Director
Mike Breedlove, Soil and Water Conservation
Alan Durden, Cooperative Extension Chairman
Jane C. Kimsey, Social Services Director
Kim Angel, Transit Director
James Bruckner, Health Director
Daylon Plemens, Veterans Service Officer
Seth D. Adams, Recreation Director
Larry D. Conley, Garage Services
Tommy Jenkins, Economic Development Director
John Fay, Housing Director
7
8
FINANCIAL SECTION

730 13th Avenue Drive SE Hickory, North Carolina 28602 Phone 828-327-2727 Fax 828-328-2324
13 South Center Street Taylorsville, North Carolina 28681 Phone 828-632-9025 Fax 828-632-9085
Toll Free Both Locations 1-800-948-0585 Website: www.martinstarnes.com
INDEPENDENT AUDITORS REPORT
To the Board of Commissioners
Macon County, North Carolina
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities, the business-type
activities, the discretely presented component unit, each major fund, and the aggregate remaining fund
information of Macon County, North Carolina, as of and for the year ended June 30, 2013, and the related
notes to the financial statements, which collectively comprise the Countys basic financial statements as
listed in the table of contents.
Managements Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes
the design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
Auditors Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted
our audit in accordance with auditing standards generally accepted in the United States of America and
the standards applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free from material misstatement.
The financial statements of Macon County Airport Authority were not audited in accordance with
Government Auditing Standards.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditors judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
In making those risk assessments, the auditor considers internal control relevant to the entitys preparation
and fair presentation of the financial statements in order to design audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entitys
internal control. Accordingly, we express no such opinion. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of significant accounting estimates
made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinions.
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Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respective financial position of the governmental activities, the business-type activities, the discretely
presented component unit, each major fund, and the aggregate remaining fund information of Macon
County, North Carolina, as of June 30, 2013, and the respective changes in financial position, and, where
applicable, cash flows thereof, and the respective budgetary comparison for the General Fund, for the year
then ended in conformity with accounting principles generally accepted in the United States of America.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Managements
Discussion and Analysis, the Law Enforcement Officers Special Separation Allowance, and the Other
Post-Employment Benefits Schedules of Funding Progress and Employer Contributions, be presented to
supplement the basic financial statements. Such information, although not a part of the basic financial
statements, is required by the Governmental Accounting Standards Board, who considers it to be an
essential part of financial reporting for placing the basic financial statements in an appropriate
operational, economic, or historical context. We have applied certain limited procedures to the required
supplementary information in accordance with auditing standards generally accepted in the United States
of America, which consisted of inquiries of management about the methods of preparing the information
and comparing the information for consistency with managements responses to our inquiries, the basic
financial statements, and other knowledge we obtained during our audit of the basic financial statements.
We do not express an opinion or provide any assurance on the information because the limited procedures
do not provide us with sufficient evidence to express an opinion or provide any assurance.
Supplementary and Other Information
Our audit was conducted for the purpose of forming opinions on the basic financial statements that
collectively comprise Macon Countys basic financial statements. The introductory section, combining
and individual fund financial statements, budget and actual schedules, supplemental ad valorem tax
schedules, and statistical tables are presented for purposes of additional analysis and are not a required
part of the basic financial statements.
The combining and individual fund financial statements, budget and actual schedules, and supplemental
ad valorem tax schedules are the responsibility of management and were derived from, and relate directly
to, the underlying accounting and other records used to prepare the financial statements. Such
information has been subjected to the auditing procedures applied in the audit of the basic financial
statements and certain additional procedures, including comparing and reconciling such information
directly to the underlying accounting and other records used to prepare the basic financial statements or to
the basic financial statements themselves, and other additional procedures in accordance with auditing
standards generally accepted in the United States of America. In our opinion, the combining and
individual fund financial statements, budget and actual schedules, and supplemental ad valorem tax
schedules are fairly stated, in all material respects, in relation to the basic financial statements taken as a
whole.
The introductory section and statistical tables have not been subjected to the auditing procedures applied
in the audit of the basic financial statements; and accordingly, we do not express an opinion or provide
assurance on them.
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Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated October 29,
2013 on our consideration of Macon Countys internal control over financial reporting and on our tests of
its compliance with certain provisions of laws, regulations, contracts and grant agreements, and other
matters. The purpose of that report is to describe the scope of our testing of internal control over financial
reporting and compliance and the results of that testing, and not to provide an opinion on internal control
over financial reporting or on compliance. That report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering Macon Countys internal control over
financial reporting and compliance.
Martin Starnes & Associates, CPAs, P.A.
Hickory, NC
October 29, 2013
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Managements Discussion and Analysis
As management of Macon County, we offer readers of Macon Countys financial statements this narrative
overview and analysis of the financial activities of Macon County for the fiscal year ended June 30, 2013.
We encourage readers to consider the information presented here in conjunction with additional
information furnished in the Countys financial statements, which follow this narrative.
Financial Highlights
The assets of Macon County exceeded its liabilities and deferred inflows of resources at the close of
the fiscal year by $9,501,645 (net position).
The Countys total net position decreased by $2,328,309, primarily due to a decrease in the net
position of governmental activities.
As of the close of the current fiscal year, Macon Countys General Fund reported an ending fund
balance of $20,613,771, a decrease of $752,787 in comparison with the prior year. Total
governmental funds reported combined ending fund balances of $26,086,461. Approximately
39.45% of this total amount, or $10,291,763, is restricted or non-spendable.
At the end of the current fiscal year, unassigned fund balance for the General Fund was $12,842,335,
or 30.61% of total General Fund expenditures and transfers out for the fiscal year.
Macon Countys total debt decreased by $1,753,727 (4%) during the fiscal year. The key factors in
this decrease are regular debt payments and debt proceeds in the General Fund and Consolidated
Capital Projects Fund.
The County holds the following bond ratings: Moodys - Aa3 and Standard & Poors - A+.
Overview of the Financial Statements
This discussion and analysis are intended to serve as an introduction to Macon Countys basic financial
statements. Macon Countys basic financial statements consist of three components: 1) government-wide
financial statements, 2) fund financial statements, and 3) Notes to the Financial Statements (Figure 1).
The basic financial statements present two different views of the County through the use of government-
wide statements and fund financial statements. In addition to the basic financial statements, this report
contains other supplemental information that will enhance the readers understanding of the financial
condition of Macon County.
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Required Components of Annual Financial Report
Figure 1
Basic Financial Statements
The first two statements (Exhibits A and B) in the basic financial statements are the Government-Wide
Financial Statements. They provide both short and long-term information about the Countys financial
status.
The next statements (Exhibits C through J) are Fund Financial Statements. These statements focus on
the activities of the individual parts of the Countys government. These statements provide more detail
than the government-wide statements. There are four parts to the fund financial statements: 1) the
governmental funds statements, 2) the budgetary comparison statements, 3) the proprietary fund
statements, and 4) the fiduciary and agency fund statements.
The next section of the basic financial statements is the Notes to the Financial Statements. The notes
offer a detailed explanation about various information contained in the statements. After the notes,
supplemental information is provided to show details about the Countys nonmajor governmental funds
and internal service funds, all of which are added together in one column on the basic financial
statements. Budgetary information required by the North Carolina General Statutes can also be found in
this part of the statements.
Immediately following the notes is the required supplementary information. This section contains
funding information about the Countys pension plans.
Government-
Wide Financial
Statements
Fund
Financial
Statements
Managements
Discussion and
Analysis
Basic
Financial
Statements
Notes to the
Financial
Statements
Summary Detail
13
Government-Wide Financial Statements
The government-wide financial statements are designed to provide the reader with a broad overview of
the Countys finances, similar in format to a financial statement of a private-sector business. The
government-wide statements provide short and long-term information about the Countys financial status
as a whole.
The two government-wide statements report the Countys net position and how they have changed. Net
position is the difference between the total of the Countys assets and the total liabilities and deferred
inflows of resources. Measuring the net position is one way to gauge the Countys financial condition.
The government-wide financial statements are divided into three categories: 1) governmental activities,
2) business-type activities, and 3) component unit. The governmental activities include most of the
Countys basic services, such as general governmental, public safety, transportation, public education,
economic development, and general administration. Property taxes and Federal and State grant funds
finance most of these activities. The business-type activities are those that the County charges customers
to provide. This includes the solid waste (landfill) operation offered by Macon County. The final
category is the component unit. Macon County is financially accountable for the Macon County Airport
Authority. Financial information for this component unit is reported separately from the financial
information presented for the primary government itself.
The government-wide financial statements can be found on Exhibits A and B of this report.
Fund Financial Statements
The fund financial statements provide a more detailed look at the Countys most significant activities. A
fund is a grouping of related accounts that is used to maintain control over resources that have been
segregated for specific activities or objectives. Macon County, like all other governmental entities in
North Carolina, uses fund accounting to ensure and reflect compliance (or non-compliance) with finance-
related legal requirements, such as the General Statutes or the Countys budget ordinance. All of the
funds of Macon County can be divided into three categories: governmental funds, proprietary funds, and
agency/fiduciary funds.
Governmental Funds. Governmental funds are used to account for those functions reported as
governmental activities in the government-wide financial statements. Most of the Countys basic services
are accounted for in governmental funds. These funds focus on how assets can readily be converted into
cash flow in and out, and what monies are left at year-end that will be available for spending in the next
year. Governmental funds are reported using an accounting method called modified accrual accounting.
This method also has a current financial resources focus. As a result, the governmental fund financial
statements give the reader a detailed short-term view that helps him or her determine if there are more or
less financial resources available to finance the Countys programs. The relationship between
governmental activities (reported in the Statement of Net Position and the Statement of Activities) and
governmental funds is described in a reconciliation that is a part of the fund financial statements.
Macon County adopts an annual budget for its General Fund, as required by the General Statutes. The
budget is a legally adopted document that incorporates input from the citizens of the County, the
management of the County, and the decisions of the Board of Commissioners about which services to
provide and how to pay for them. It also authorizes the County to obtain funds from identified sources to
finance these current period activities. The budgetary statement provided for the General Fund
demonstrates how well the County complied with the budget ordinance and whether or not the County
succeeded in providing the services as planned when the budget was adopted. The budgetary comparison
statement uses the budgetary basis of accounting and is presented using the same format, language, and
14
classifications as the legal budget document. The statement shows four columns: 1) the original budget
as adopted by the Board; 2) the final budget as amended by the Board; 3) the actual resources, charges to
appropriations, and ending balances in the General Fund; and 4) the difference or variance between the
final budget and the actual resources and charges.
Proprietary Funds. Macon County maintains two types of proprietary funds: Enterprise Fund and
Internal Service Fund. Enterprise funds report the same functions presented as business-type activities in
the government-wide financial statements. Macon County uses an Enterprise Fund to account for its solid
waste operations. Macon County uses an Internal Service Fund to account for health insurance on a cost
reimbursement basis. As these services predominantly benefit governmental rather than business-type
functions, they have been included within governmental activities in the government-wide financial
statements.
Proprietary funds provide the same type of information as the government-wide financial statements, only
in more detail. The proprietary fund financial statements provide separate information for solid waste and
health insurance.
Fiduciary Funds. Fiduciary funds are used to account for resources held for the benefit of parties outside
the government. Macon County has eight agency funds.
Notes to the Financial Statements. The notes provide additional information that is essential to a full
understanding of the data provided in the government-wide and fund financial statements. The Notes to
the Financial Statements follow Exhibit J of this report.
Other Information. In addition to the basic financial statements and accompanying notes, this report
also presents certain required supplementary information concerning Macon Countys progress in funding
its obligation to provide pension benefits to its employees. Required supplementary information
immediately follows the Notes to the Financial Statements.
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Government-Wide Financial Analysis
Macon Countys Net Position
Figure 2
2012 2013 2012 2013 2012 2013
Current and other assets 36,538,679 $ 33,906,312 $ 8,673,266 $ 9,351,358 $ 45,211,945 $ 43,257,670 $
Capital assets 23,459,314 24,398,520 2,271,354 2,103,456 25,730,668 26,501,976
Total assets 59,997,993 58,304,832 10,944,620 11,454,814 70,942,613 69,759,646
Long-term liabilities
outstanding 45,449,420 45,689,648 5,512,126 5,971,656 50,961,546 51,661,304 $
Other liabilities 7,522,903 8,233,686 497,909 239,605 8,020,812 8,473,291
Total liabilities 52,972,323 53,923,334 6,010,035 6,211,261 58,982,358 60,134,595
Deferred inflows of resources 130,301 123,406 - - 130,301 123,406
Net position:
Net investment in capital assets 18,601,883 18,778,181 2,071,354 2,103,456 20,673,237 20,881,637
Restricted 6,934,514 9,980,380 - - 6,934,514 9,980,380
Unrestricted (18,641,028) (24,500,469) 2,863,231 3,140,097 (15,777,797) (21,360,372)
Total net position 6,895,369 $ 4,258,092 $ 4,934,585 $ 5,243,553 $ 11,829,954 $ 9,501,645 $
Governmental Activities Business-Type Activities Total
As noted earlier, net position may serve over time as one useful indicator of a governments financial
condition. The Countys assets exceeded its liabilities and deferred inflows of resources by $9,501,645 as
of June 30, 2013. The Countys net position decreased by $2,328,309 for the fiscal year ended June 30,
2013.
One of the largest portions of Macon Countys net position, $20,881,637, reflects its net investment in
capital assets (e.g., land, buildings, machinery, and equipment). The County uses these capital assets to
provide services to citizens; consequently, these assets are not available for future spending. Although
Macon Countys investment in its capital assets is reported net of outstanding related debt, the resources
needed to repay this debt must be provided from other sources, since the capital assets themselves cannot
be used to repay these liabilities. An additional portion of the Countys net position, $9,980,380,
represents resources that are subject to external restrictions on how they may be used.
At the end of the current fiscal year, the County is reporting a negative balance in unrestricted net position
in the amount of $21,360,372 for the government as a whole. The primary reason for the deficit is due to
the fact that under North Carolina law, the County is responsible for providing capital funding for the
school system. The County has chosen to meet its legal obligation to provide the school system capital
funding by using a mixture of County funds and debt financings. The assets funded by the County,
however, are titled to and utilized by the school system. Since the County, as the issuing government,
acquires no assets, the County has incurred a liability without a corresponding increase in assets.
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Macon Countys Changes in Net Position
Figure 3
2012 2013 2012 2013 2012 2013
Revenues:
Program revenues
Charges for services 4,319,383 $ 4,152,181 $ 3,458,349 $ 3,388,477 $ 7,777,732 $ 7,540,658 $
Operating grants and contributions 10,647,327 9,918,241 - - 10,647,327 9,918,241
Capital grants and contributions 133,681 3,329,169 - - 133,681 3,329,169
General revenues:
Property taxes 28,747,033 28,912,689 - - 28,747,033 28,912,689
Other taxes 7,609,640 7,793,227 - - 7,609,640 7,793,227
Other 437,806 420,072 13,013 13,541 450,819 433,613
Total revenues 51,894,870 54,525,579 3,471,362 3,402,018 55,366,232 57,927,597
Expenses:
General government 10,544,326 11,086,204 - - 10,544,326 11,086,204
Public safety 13,462,012 13,874,996 - - 13,462,012 13,874,996
Transportation 709,086 781,330 - - 709,086 781,330
Economic and physical development 2,977,859 5,083,894 - - 2,977,859 5,083,894
Human services 9,376,517 10,369,682 - - 9,376,517 10,369,682
Cultural and recreational 2,349,816 2,400,236 - - 2,349,816 2,400,236
Education 16,309,605 11,698,110 - - 16,309,605 11,698,110
Interest on long-term debt 2,118,296 1,868,404 - - 2,118,296 1,868,404
Solid waste - - 2,880,580 3,093,050 2,880,580 3,093,050
Total expenses 57,847,517 57,162,856 2,880,580 3,093,050 60,728,097 60,255,906
Increase (decrease) in net position (5,952,647) (2,637,277) 590,782 308,968 (5,361,865) (2,328,309)
Net Position:
Beginning of year - July 1 12,848,016 6,895,369 4,343,803 4,934,585 17,191,819 11,829,954
End of year - June 30 6,895,369 $ 4,258,092 $ 4,934,585 $ 5,243,553 $ 11,829,954 $ 9,501,645 $
Governmental Activities. Of total net position, governmental activities accounted for $4,258,092
(44.8%). Property taxes provided 53.0% of funding at $28,912,689, charges for services funded
$4,152,181, local option sales tax funded $7,793,227, and operating grants funded $9,918,241 of Macon
Countys governmental activities. Governmental activities decreased Macon Countys net position by
$2,637,277. Net position decreased due to the spending down of debt proceeds for school construction
and an increase in liabilities due to additional debt incurred.
Business-Type Activities. Business-type activities increased the Countys net position by $308,968.
That increase is primarily attributable to an increase in cash and cash equivalents due to revenues
exceeding expenses offset by an increase in non-current liabilities.
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Financial Analysis of the Countys Funds
As noted earlier, the County uses fund accounting to ensure and demonstrate compliance with finance-
related legal requirements.
Governmental Funds. The focus of the Countys governmental funds is to provide information on near-
term inflows, outflows, and balances of usable resources. Such information is useful in assessing Macon
Countys financing requirements. Specifically, fund balance available for appropriation can be a useful
measure of a governments net resources available for spending at the end of the fiscal year.
As of the end of the current fiscal year, Macon Countys governmental funds reported combined ending
fund balances of $26,086,461, a decrease of $1,577,629 in comparison with the prior year. The decrease
is primarily due to the spending down of debt proceeds for school construction and expenditures
exceeding revenues in the General Fund.
The General Fund is the chief operating fund of Macon County. At the end of the current fiscal year,
fund balance available in the General Fund was $15,274,085, while total fund balance reached
$20,613,771. The County currently has an available fund balance of 33.03% of General Fund
expenditures and transfers out, while total fund balance represents 44.58% of that same amount. Total
fund balance in the general fund decreased $752,787. This decrease is primarily attributable to the
purchase of property for future recreational development. The Consolidated Capital Project Funds fund
balance at year-end was $2,333,190, a decrease of $253,173 over the prior year, due to the spending down
of debt proceeds.
General Fund Budgetary Highlights
During the fiscal year, the County revised the budget on several occasions. Generally, budget
amendments fall into three categories: 1) amendments made to adjust the estimates that are used to
prepare the original budget ordinance once exact information is available; 2) amendments made to
recognize new funding amounts from external sources, such as Federal and State grants; and 3) increases
in appropriations that become necessary to maintain services. Total amendments to the General Fund
increased the revenue source budget by $4,180,077. The majority of this increase was attributable to
additional restricted intergovernmental revenues received after the beginning of the year and
appropriating fund balance to purchase property and renovate the pool and pool house in the Recreation
Department. The difference between the final budgeted amount and the actual expenditures and uses was
$2,331,944. This difference is primarily due to underspending the budget in general government, public
safety, and human services; the decision not to fill certain positions; and incomplete contracts to be
continued in 2014.
Proprietary Funds. Macon Countys proprietary funds provide the same type of information found in
the government-wide financial statements but in more detail.
Unrestricted net position of solid waste at the end of the year totaled $3,140,097. The increase of
$308,968 over the prior year is primarily attributable to a $300,000 decrease in debt principal payments.
Other factors concerning the finances of the fund have already been addressed in the discussion of the
Countys business-type activities.
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Capital Asset and Debt Administration
Capital Assets. Macon Countys capital assets for its governmental and business-type activities as of
June 30, 2013 amount to $26,501,976, (net of accumulated depreciation). These assets include land,
buildings and systems, improvements, machinery, and equipment.
Major capital asset transactions during the year include:
Property acquisition $593,797
Pool renovations $447,898
Pool house renovations $207,500
Defibrillators $374,000
Two ambulances $201,546
Six Dodge Chargers for the Sheriffs Department $137,942
Macon Countys Capital Assets
Figure 4
2012 2013 2012 2013 2012 2013
Land 9,104,281 $ 9,698,078 $ 460,837 $ 460,837 $ 9,565,118 $ 10,158,915 $
Buildings and improvements 26,089,890 26,813,681 9,395,567 9,486,139 35,485,457 36,299,820
Furniture and equipment 2,539,709 2,816,679 2,221,473 2,221,473 4,761,182 5,038,152
Vehicles 5,180,244 5,577,931 704,863 744,471 5,885,107 6,322,402
Construction in progress 354,952 537,422 23,179 - 378,131 537,422
Subtotal 43,269,076 45,443,791 12,805,919 12,912,920 56,074,995 58,356,711
Less accumulated
depreciation (19,809,762) (21,045,271) (10,534,565) (10,809,464) (30,344,327) (31,854,735)
Total 23,459,314 $ 24,398,520 $ 2,271,354 $ 2,103,456 $ 25,730,668 $ 26,501,976 $
Additional information on the Countys capital assets can be found in the Notes to the Financial
Statements beginning on page 47.
Long-Term Debt. At the end of the current fiscal year, Macon County had no bonded debt outstanding.
Macon Countys Outstanding Debt
Figure 5
2012 2013 2012 2013 2012 2013
Installment contracts 42,453,279 $ 40,899,552 $ 200,000 $ - $ 42,653,279 $ 40,899,552 $
The State of North Carolina limits the amount of net bonded debt a County may have outstanding to 8%
of the appraised value subject to taxation. The current debt limitation for Macon County is $705,482,642,
which is significantly greater than Macon Countys outstanding debt.
19
More detailed information on the Countys long-term debt can be found in the Notes to the Financial
Statements beginning on page 58.
Economic Factors and Next Years Budgets and Rates
The following key economic indicators reflect the growth and prosperity of the County.
The unemployment rate for Macon County is currently 9.8%, which is a slight decrease from a rate of
10.1% a year ago. Macon Countys rate is slightly higher than the States unemployment rate of
9.3%.
Sales tax distributions increased 2.5% over prior year.
The tax base is diverse, with the ten leading taxpayers making up 3.46% of total assessed value.
All of these factors were considered in preparing Macon Countys budget for the 2013-2014 fiscal year.
Budget Highlights for the Fiscal Year Ending June 30, 2014
Governmental Activities: Taxes are based on $9.365 billion in property valuation with no growth
budgeted. The collection rate increased from 96.38% in 2012 to 96.42% in 2013. Sales tax revenues
were budgeted with 2% growth over FY 11-12 actuals.
Budgeted expenditures in the General Fund for 2014 are $47,145,470, which includes new debt service
for school renovations and defibrillators. The 2014 budget has approximately $1.05 million capital
outlay, an increase in education due to allocating additional current expense funds, an increase in transit
due to the addition of a VTCLI Grant, an increase in social services due to various program increases, and
an increase in human services due to an increase in the Community Transformation Grant.
Business-Type Activities: The budgeted expenditures for the Solid Waste Fund are $3,654,700, which
represents a 3.2% decrease over last year. The decrease is due to making final debt service payments in
FY 12-13. Funds are budgeted to continue with the planning for a new cell at the Macon County MSW
Landfill.
Requests for information
This financial report is designed to provide a general overview of the Countys finances for all those with
an interest in the governments finances. Questions concerning any of the information provided in this
report, or requests for additional financial information, should be addressed to the Office of the Finance
Director, 5 West Main Street, Franklin, North Carolina 28734.
20

BASIC FINANCIAL STATEMENTS OVERVIEW

Exhibit A
The accompanying notes are an integral part of the financial statements.
STATEMENT OF NET POSITION
JUNE 30, 2013
Component
Unit
Macon County
Governmental Business-Type Airport
Activities Activities Total Authority
Assets:
Cash and cash equivalents 23,296,252 $ 9,044,702 $ 32,340,954 $ 51,390 $
Taxes receivable, net 1,249,920 - 1,249,920 -
Interest receivable 18,299 523 18,822 -
Accounts receivable, net 3,479,770 303,268 3,783,038 -
Due from other governments 4,164,756 2,865 4,167,621 -
Inventories 98,640 - 98,640 -
Prepaid items 243,541 - 243,541 -
Restricted cash and cash equivalents 1,355,134 - 1,355,134 -
Construction in progress 537,422 - 537,422 -
Non-depreciable capital assets 9,698,078 460,837 10,158,915 11,281,621
Depreciable capital assets, net 14,163,020 1,642,619 15,805,639 1,108,152
Total assets 58,304,832 11,454,814 69,759,646 12,441,163
Liabilities:
Accounts payable and accrued liabilities 3,285,745 184,498 3,470,243 2,717
Liabilities to be paid from restricted assets 2,584 - 2,584 -
Due in less than one year 4,945,357 55,107 5,000,464 -
Due in more than one year 45,689,648 5,971,656 51,661,304 -
Total liabilities 53,923,334 6,211,261 60,134,595 2,717
Deferred Inflows of Resources:
Prepaid taxes 123,406 - 123,406 -
Net Position:
Net investment in capital assets 18,778,181 2,103,456 20,881,637 12,389,773
Restricted for:
Stabilization by State statute 8,121,354 - 8,121,354 -
Restricted for public safety 362,515 - 362,515 -
Restricted for education 1,496,511 - 1,496,511 -
Unrestricted (24,500,469) 3,140,097 (21,360,372) 48,673
Total net position 4,258,092 $ 5,243,553 $ 9,501,645 $ 12,438,446 $
Primary Government
21
STATEMENT OF ACTIVITIES
Operating Capital
Charges for Grants and Grants and
Expenses Services Contributions Contributions
Functions/Programs:
Primary Government:
Governmental Activities:
General government 11,086,204 $ 1,271,567 $ 1,033,706 $ - $
Public safety 13,874,996 1,720,635 641,389 -
Transportation 781,330 - 280,271 -
Economic and physical development 5,083,894 506,736 494,374 3,314,169
Human services 10,369,682 519,738 7,219,987 -
Cultural and recreational 2,400,236 - 15,000 -
Education 11,698,110 133,505 233,514 15,000
Interest on long-term debt 1,868,404 - - -
Total governmental activities 57,162,856 4,152,181 9,918,241 3,329,169
Business-Type Activities:
Solid waste 3,093,050 3,388,477 - -
Total primary government 60,255,906 $ 7,540,658 $ 9,918,241 $ 3,329,169 $
Component Unit:
Airport Authority 136,537 $ 8,634 $ 41,388 $ 2,473,990 $
General Revenues:
Ad valorem taxes
Local option sales tax
Unrestricted intergovernmental revenues:
Other taxes
Gross receipts tax
Interest earned on investments
Total general revenues
Change In Net Position
Net Position:
Beginning of year - July 1
End of year - June 30
Program Revenues
22
Exhibit B
Net (Expense) Revenue and Changes in Net Position
Component Unit
Macon County
Governmental Business-Type Airport
Activities Activities Total Authority
(8,780,931) $ - $ (8,780,931) $ - $
(11,512,972) - (11,512,972) -
(501,059) - (501,059) -
(768,615) - (768,615) -
(2,629,957) - (2,629,957) -
(2,385,236) - (2,385,236) -
(11,316,091) - (11,316,091) -
(1,868,404) - (1,868,404) -
(39,763,265) - (39,763,265) -
- 295,427 295,427 -
(39,763,265) 295,427 (39,467,838) -
2,387,475
28,912,689 - 28,912,689 -
7,793,227 - 7,793,227 -
339,575 - 339,575 -
17,743 - 17,743 -
62,754 13,541 76,295 -
37,125,988 13,541 37,139,529 -
(2,637,277) 308,968 (2,328,309) 2,387,475
6,895,369 4,934,585 11,829,954 10,050,971
4,258,092 $ 5,243,553 $ 9,501,645 $ 12,438,446 $
Primary Government
23
Exhibit C
BALANCE SHEET - GOVERNMENTAL FUNDS
JUNE 30, 2013
Consolidated Debt Other Total
General Capital Service Governmental Governmental
Fund Project Fund Funds Funds
Assets:
Cash and cash equivalents 17,306,134 $ 703,741 $ 1,022,379 $ 1,555,783 $ 20,588,037 $
Taxes receivable, net 1,100,264 - - 149,656 1,249,920
Interest receivable 18,299 - - - 18,299
Accounts receivable, net 825,318 887,603 - 1,760,249 3,473,170
Due from other funds 1,226,660 - - - 1,226,660
Due from other governments 3,719,557 - - 445,199 4,164,756
Inventories 98,640 - - - 98,640
Prepaid items 212,743 - - - 212,743
Cash and cash equivalents, restricted 2,584 1,352,550 - - 1,355,134
Total assets 24,510,199 $ 2,943,894 $ 1,022,379 $ 3,910,887 $ 32,387,359 $
Liabilities, Deferred Inflows of Resources,
and Fund Balances:
Liabilities:
Accounts payable and accrued liabilities 1,908,643 $ 610,704 $ - $ 417,450 $ 2,936,797 $
Due to other funds - - - 1,226,660 1,226,660
Liabilities to be paid from restricted assets 2,584 - - - 2,584
Total liabilities 1,911,227 610,704 - 1,644,110 4,166,041
Unavailable revenue - property taxes 1,100,264 - - 149,656 1,249,920
Unavailable revenue - ambulance 554,706 - - - 554,706
Unavailable revenue - public health 206,825 - - - 206,825
Prepaid taxes 123,406 - - - 123,406
Total deferred inflows of resources 1,985,201 - - 149,656 2,134,857
Fund Balances:
Non-spendable, not in spendable form:
Inventories 98,640 - - - 98,640
Prepaids 212,743 - - - 212,743
Restricted:
Stabilization by State statute 5,028,303 887,603 - 2,205,448 8,121,354
Restricted, all other 310,530 1,352,550 - 195,946 1,859,026
Committed - 93,037 - 1,337,859 1,430,896
Assigned 2,121,220 - 1,022,379 - 3,143,599
Unassigned 12,842,335 - - (1,622,132) 11,220,203
Total fund balances 20,613,771 2,333,190 1,022,379 2,117,121 26,086,461
Total liabilities, deferred inflows of resources,
and fund balances 24,510,199 $ 2,943,894 $ 1,022,379 $ 3,910,887 $
Capital assets used in governmental activities are not financial resources and,
therefore, are not reported in the funds. 24,398,520
Internal service funds are used by management to charge the cost of health
insurance. The assets and liabilities of the Internal Service Fund are included
in governmental activities in the Statement of Net Position. 2,396,665
Long-term liabilities and compensated absences are not due and payable in
the current period and, therefore, are not reported in the funds. (50,635,005)
Deferred inflows of resources for taxes and special assessments receivables 1,249,920
Deferred inflows of resources for other unavailable revenues 761,531
Net position of governmental activities 4,258,092 $
24
Exhibit D
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS
Consolidated Debt Other Total
General Capital Service Governmental Governmental
Fund Project Fund Funds Funds
Revenues:
Ad valorem taxes 26,149,786 $ - $ - $ 2,738,405 $ 28,888,191 $
Local option sales taxes 6,243,883 - - 1,549,344 7,793,227
Unrestricted intergovernmental revenues 357,318 - - - 357,318
Restricted intergovernmental revenues 8,185,273 15,000 938,985 4,108,152 13,247,410
Permits and fees 1,409,574 - - - 1,409,574
Sales and services 2,436,510 - - - 2,436,510
Interest earned on investments 57,117 1,593 475 1,846 61,031
Miscellaneous 173,366 133,505 47,682 3,940 358,493
Total revenues 45,012,827 150,098 987,142 8,401,687 54,551,754
Expenditures:
Current:
General government 6,773,209 - - 226,949 7,000,158
Public safety 11,610,233 - - 3,063,400 14,673,633
Transportation 748,894 - - - 748,894
Economic and physical development 1,033,663 - - 4,055,331 5,088,994
Human services 10,786,673 - - - 10,786,673
Education 8,294,839 3,403,271 - - 11,698,110
Cultural and recreational 2,710,790 - - - 2,710,790
Debt service:
Principal repayments - - 4,927,727 - 4,927,727
Interest - - 1,868,404 - 1,868,404
Total expenditures 41,958,301 3,403,271 6,796,131 7,345,680 59,503,383
Revenues over (under) expenditures 3,054,526 (3,253,173) (5,808,989) 1,056,007 (4,951,629)
Other Financing Sources (Uses):
Issuance of long-term debt 374,000 3,000,000 - - 3,374,000
Transfers in 99,712 - 5,811,073 76,737 5,987,522
Transfers out (4,281,025) - - (1,706,497) (5,987,522)
Total other financing sources (uses) (3,807,313) 3,000,000 5,811,073 (1,629,760) 3,374,000
Net change in fund balances (752,787) (253,173) 2,084 (573,753) (1,577,629)
Fund Balances:
Beginning of year - July 1 21,366,558 2,586,363 1,020,295 2,690,874 27,664,090
End of year - June 30 20,613,771 $ 2,333,190 $ 1,022,379 $ 2,117,121 $ 26,086,461 $
25
Exhibit E
RECONCILIATION OF THE STATEMENT OF REVENUES,
EXPENDITURES, AND CHANGES IN FUND BALANCES -
GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
Amounts reported for governmental activities in the Statement of Activities (Exhibit B) are different
due to the following items:
Net change in fund balances - total governmental funds (1,577,629) $
Property tax revenues in the Statement of Activities that do not provide current financial resources
are not reported as revenues in the governmental funds statement. 24,498
Exhibit D reports revenues using a current financial resources basis, which generally means revenue
is recognized when collected, or is expected to be collected, within 90 days of year-end. Exhibit B
reports revenues when the earning process is complete, regardless of when it is collected. This
measurement difference causes timing of revenue recognition differences for the following
revenues types:
Ambulance revenues in the Statement of Activities that do not provide current financial resources
are not reported as revenues in the governmental funds statement. (250,294)
Public health fees in the Statement of Activities that do not provide current financial resources
are not reported as revenues in the governmental funds statement. 5,021
Expenses related to compensated absences and Law Enforcement Officers' Separation Allowance
that do not require current financial resources are not reported as expenditures in the governmental
funds statement. (2,027,043)
Capital assets (net) disposed of during the year are not recognized on the modified accrual basis. (56,435)
Capital outlays are reported as expenditures in the governmental funds statement. However, in the
Statement of Activities, capital outlay is not an expense, rather it is an increase in capital assets. 2,596,731
Depreciation expense allocates the costs of capital assets over their useful lives. It is not
reported as an expenditure in the governmental funds statement. (1,601,090)
Principal repayments are reported as expenditures in the governmental funds statement.
However, in the Statement of Activities, these transactions are not an expense, rather they
are a decrease in liabilities. 4,927,727
Debt issued is reported as revenues in the governmental fund statements. However,
in the Statement of Activities, these transactions are not a revenue, rather they are an (3,374,000)
increase in liabilities.
The net revenue (expense) of the internal service funds are reported with governmental activities. (1,304,763)
Change in net position of governmental activities (Exhibit B) (2,637,277) $
26
Exhibit F
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
GENERAL FUND
Variance from
Budgeted Amounts
Final Budget
Original Final Actual Over/Under
Revenues:
Ad valorem taxes 26,071,740 $ 26,071,740 $ 26,149,786 $ 78,046 $
Local option sales taxes 5,585,715 5,939,715 6,243,883 304,168
Unrestricted intergovernmental revenues 340,000 186,000 357,318 171,318
Restricted intergovernmental revenues 7,088,689 8,840,191 8,185,273 (654,918)
Permits and fees 1,345,755 1,439,755 1,409,574 (30,181)
Sales and services 2,204,404 2,291,419 2,436,510 145,091
Investment earnings 48,000 48,000 57,117 9,117
Miscellaneous 26,121 143,388 173,366 29,978
Total revenues 42,710,424 44,960,208 45,012,827 52,619
Expenditures:
Current:
General government 6,806,573 7,105,516 6,773,209 332,307
Public safety 10,807,730 11,922,522 11,610,233 312,289
Transportation 696,386 820,284 748,894 71,390
Economic and physical development 879,516 1,211,323 1,033,663 177,660
Human services 10,651,862 12,181,908 10,786,673 1,395,235
Cultural and recreational 2,017,487 2,728,398 2,710,790 17,608
Intergovernmental:
Education 8,250,684 8,307,278 8,294,839 12,439
Total expenditures 40,110,238 44,277,229 41,958,301 2,318,928
Revenues over (under) expenditures 2,600,186 682,979 3,054,526 2,371,547
Long term debt issued - 374,000 374,000 -
Transfers in - 99,712 99,712 -
Transfers out (4,280,955) (4,294,041) (4,281,025) 13,016
Appropriated fund balance 1,680,769 3,137,350 - (3,137,350)
Total other financing sources (uses) (2,600,186) (682,979) (3,807,313) (3,124,334)
Net change in fund balance - $ - $ (752,787) (752,787) $
Fund Balance:
Beginning of year - July 1 21,366,558
End of year - June 30 20,613,771 $
27
Exhibit G
PROPRIETARY FUNDS
JUNE 30, 2013
Business-Type Governmental
Activities Activities
Solid Internal Service
Waste Fund Fund
Assets:
Current assets:
Cash and cash equivalents 9,044,702 $ 2,708,215 $
Interest receivable 523 -
Accounts receivable, net 303,268 6,600
Prepaids - 30,798
Due from other government agencies 2,865 -
Total current assets 9,351,358 2,745,613
Non-current assets:
Non-depreciable capital assets 460,837 -
Depreciable capital assets, net 1,642,619 -
Total non-current assets 2,103,456 -
Total assets 11,454,814 2,745,613
Liabilities:
Current liabilities:
Accounts payable and accrued liabilities 184,498 348,948
Current portion of accrued landfill closure and post-closure care cost 50,000 -
Compensated absences payable - current 5,107 -
Total current liabilities 239,605 348,948
Non-current liabilities:
Accrued landfill closure and post-closure care cost 5,453,100 -
Compensated absences payable 45,962 -
Long-term liabilities - non-current 472,594 -
Total non-current liabilities 5,971,656 -
Total liabilities 6,211,261 348,948
Net Position:
Net investment in capital assets 2,103,456 -
Unrestricted 3,140,097 2,396,665
Total net position 5,243,553 $ 2,396,665 $
28
Exhibit H
STATEMENT OF REVENUES, EXPENSES, AND CHANGES
IN FUND NET POSITION - PROPRIETARY FUNDS
Waste Fund Fund
Operating Revenues:
Landfill fees 1,906,509 $ - $
Solid waste disposal fees 24,582 -
Charges for services - 3,206,174
Tipping fees 1,113,081 -
Scrap tire revenues 42,175 -
Other 302,130 -
Total operating revenues 3,388,477 3,206,174
Operating Expenses:
Salaries 893,001 -
Employee benefits 429,706 -
Benefit payments - 3,966,331
Insurance premiums - 546,329
Operating expenses 1,040,202 -
Landfill closure and post-closure care cost 422,109 -
Depreciation 303,676 -
Total operating expenses 3,088,694 4,512,660
Operating income (loss) 299,783 (1,306,486)
Non-Operating Revenues (Expenses):
Interest earned on investments 13,541 1,723
Interest and fees (4,356) -
Total non-operating revenues (expenses) 9,185 1,723
Change in net position 308,968 (1,304,763)
Net Position:
Beginning of year- July 1 4,934,585 3,701,428
End of year- June 30 5,243,553 $ 2,396,665 $
29
Exhibit I
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
Waste Fund Fund
Cash Flows from Operating Activities:
Cash received from customers 2,998,069 $ 3,199,574 $
Cash paid for goods and services (1,180,131) (4,477,633)
Cash paid to employees for services (1,203,661) -
Other operating revenues 406,697 -
Net cash provided (used) by operating activities 1,020,974 (1,278,059)
Cash Flows from Capital and Related Financing Activities:
Acquisition and construction of capital assets (135,778) -
Principal paid on long-term debt (200,000) -
Interest paid on long-term debt (4,356) -
Net cash provided (used) for capital and related financing activities (340,134) -
Cash Flows from Investing Activities:
Interest on investments 13,541 1,723
Net increase (decrease) in cash and cash equivalents 694,381 (1,276,336)
Cash and Cash Equivalents:
Beginning of year - July 1 8,350,321 3,984,551
End of year - June 30 9,044,702 $ 2,708,215 $
Reconciliation of Operating Income (Loss) to
Net Cash Provided (Used) by Operating Activities:
Operating income (loss) 299,783 $ (1,306,486) $
Adjustments to reconcile operating income (loss) to
net cash provided (used) by operating activities:
Depreciation 303,676 -
Change in estimate of closure and post-closure care cost 391,100 -
Change in other post-employment benefits 113,690 -
Changes in assets and liabilities:
(Increase) decrease in receivables 16,289 (6,600)
(Increase) decrease in prepaids - (30,798)
Increase (decrease) in accounts payable and accrued liabilities (108,831) 65,825
Increase (decrease) in accrued vacation pay 5,267 -
Net cash provided (used) by operating activities 1,020,974 $ (1,278,059) $
30
Exhibit J
STATEMENT OF FIDUCIARY NET POSITION
FIDUCIARY FUND
JUNE 30, 2013
Agency
Funds
Assets:
Cash and cash equivalents 106,899 $
Accounts receivable 18,036
Total assets
124,935 $
Liabilities:
Miscellaneous liabilities 102,594 $
Intergovernmental payable 22,341
Total liabilities
124,935 $
31

NOTES TO THE FINANCIAL STATEMENTS
1. Summary of Significant Accounting Policies
The accounting policies of Macon County, North Carolina, (the County) and its discretely
presented component units conform to generally accepted accounting principles as applicable to
governments. The following is a summary of the more significant accounting policies:
A. Reporting Entity
The County, which is governed by a five-member Board of Commissioners, is one of the 100
counties established in North Carolina under North Carolina General Statute 153A-10. As
required by accounting principles generally accepted in the United States of America, these
financial statements present the County and its component units legally separate entities for
which the County is financially accountable. One component unit of the County has no
financial transactions or account balances; therefore, it does not appear in the combined
financial statements. One of the discretely presented component units presented below is
reported in a separate column in the Countys combined financial statements in order to
emphasize that it is legally separate from the County.
Discretely Presented Component Units
Macon County Industrial Facility and Pollution Control Financing Authority
Macon County Industrial Facility and Pollution Control Financing Authority (the Authority)
exists to issue and service revenue bond debt of private businesses for economic development
purposes. The Authority is governed by a seven-member Board of Commissioners, all of
whom are appointed by the County Commissioners. The County can remove any
Commissioner of the Authority with or without cause. The Authority has no financial
transactions or account balances; therefore, it is not presented in the combined financial
statements. The Authority does not issue separate financial statements.
Macon County Airport Authority
Macon County Airport Authority exists to purchase, construct, or acquire equipment to
improve, maintain, or operate airports and landing fields within the limits of the County. The
Authority is fiscally dependent on the County due to the County providing the costs and
services of the administrative and finance function. The Authority is governed by five
members, all of whom are appointed by the Macon County Commissioners. Therefore, the
County has significant influence over the operations of the Authority.
Complete financial statements for the individual component units which issued financial
statements may be obtained at the administrative offices of the County at 5 West Main Street,
Franklin, North Carolina 28734.
32
B. Basis of Presentation, Basis of Accounting
Basis of Presentation, Measurement Focus Basis of Accounting
Government-Wide Statements. The Statement of Net Position and the Statement of Activities
display information about the primary government net position (the County) and its component
units. These statements include the financial activities of the overall government, except for
fiduciary activities. Eliminations have been made to minimize the double counting of internal
activities. These statements distinguish between governmental and business-type activities of
the County. Governmental activities generally are financed through taxes, intergovernmental
revenues, and other non-exchange transactions. Business-type activities are financed in whole
or in part by fees charged to external parties.
The Statement of Activities presents a comparison between direct expenses and program
revenues for the different business-type activities of the County and for each function of the
Countys governmental activities. Direct expenses are those that are specifically associated
with a program or function and, therefore, are clearly identifiable to a particular function.
Indirect expense allocations that have been made in the funds have been reversed for the
Statement of Activities. Program revenues include (a) fees and charges paid by the recipients
of goods or services offered by the programs and (b) grants and contributions that are restricted
to meeting the operational or capital requirements of a particular program. Revenues that are
not classified as program revenues, including all taxes, are presented as general revenues.
Fund Financial Statements. The fund financial statements provide information about the
Countys funds, including its fiduciary funds. Separate statements for each fund category
governmental, proprietary, and fiduciary are presented. The emphasis of fund financial
statements is on major governmental and enterprise funds, each of which is displayed in a
separate column. All remaining governmental and enterprise funds are aggregated and reported
as nonmajor funds.
Proprietary fund operating revenues, such as charges for services, result from exchange
transactions associated with the principal activity of the fund. Exchange transactions are those
in which each party receives and gives up essentially equal values. Non-operating revenues,
such as subsidies, result from non-exchange transactions. Other non-operating items such as
investment earnings are ancillary activities.
The County has the following fund categories and fund types:
Governmental Funds. Governmental funds account for the Countys general governmental
activities. Governmental funds include the following fund types:
33
The County reports the following major governmental funds:
General Fund. The General Fund is the general operating fund of the County. It is used to
account for all financial resources except those required to be accounted for in another fund.
The primary revenue sources are ad valorem taxes, sales taxes, federal and State grants, and
various other taxes and licenses. The primary expenditures are for public safety, environmental
protection, economic and physical development, human services, cultural and recreational
projects, education, and general government services.
Debt Service Fund. The Debt Service Fund is used to account for all expenditures for principal
and interest for all long-term debt payments. The other governmental fund types provide the
resources to the Debt Service Fund to make the payments through transfers.
Consolidated Capital Project Fund. Capital project funds are used to account for financial
resources to be used for acquisition or construction of major capital facilities (other than those
financed by proprietary funds or trust funds). The County maintains one major Capital Project
Fund within the governmental fund types. The Consolidated Capital Project Fund accounts for
projects related to education facilities. It is used to account for various school projects that are
being constructed or renovated. The fund consists of loan funds and local County dollars for
each project. The fund is structured so that revenues and expenditures by project may be easily
identified.
The County reports the following nonmajor governmental funds:
Special Revenue Funds. Special revenue funds are used to account for specific revenue sources
(other than special assessments, expendable trusts, or major capital projects) that are legally
restricted to expenditures for specified purposes. The County maintains three special revenue
funds: the Emergency Telephone System Fund, the Fire Districts Fund, and the Housing Grants
Fund.
Capital Project Funds. Capital project funds are used to account for financial resources to be
used for the acquisition or construction of major capital facilities (other than those financed by
proprietary funds or trust funds). The County has six nonmajor capital project funds within the
governmental fund types: the Airport Improvements Fund, the County Buildings Project Fund,
the Riverbend Estates Waterline Project Fund, the Little Tennessee River/Cartoogechaye Creek
Sewer Trunk Project Fund, the Schools Capital Fund, and the Capital Reserve Fund.
Proprietary Funds include the following fund types:
Enterprise Funds. Enterprise funds are used to account for operations (a) that are financed and
operated in a manner similar to private business enterprises where the intent of the governing
body is that the costs (expenses, including depreciation) of providing goods or services to the
general public on a continuing basis be financed or recovered primarily through user charges or
(b) where the governing body has decided that periodic determination of revenues earned,
expenses incurred, and/or net income is appropriate for capital maintenance, public policy,
management control, accountability, or other purposes.
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Macon County has one Enterprise Fund: the Solid Waste Fund. The Landfill Closure and
Post-Closure Reserve Fund is a reserve established by the County to accumulate the funds
necessary to cover the closure and post-closure care costs that will be incurred by the landfill in
the future. The Landfill Closure and Post-Closure Reserve Fund is consolidated with the Solid
Waste Fund (the operating fund) for financial reporting purposes.
Internal Service Funds. Internal service funds are used to account for the financing of goods
or services provided by one department to other departments of the County on a cost-
reimbursement basis. Macon County has one Internal Service Fund: the Self-Insurance Fund.
Fiduciary Funds. Fiduciary funds account for the assets held by the County in a trustee
capacity or as an agent for individuals, private organizations, other governmental units, and/or
other funds. Fiduciary funds include the following funds:
Agency Funds. Agency funds are custodial in nature and do not involve the measurement of
operating results. Agency funds are used to account for assets the County holds on behalf of
others. The County maintains eight agency funds: the Social Services and Inmate Trust Fund,
which accounts for monies deposited with the Social Services Department and Jail for the
benefit of certain individuals; the Fines and Forfeitures Fund, which accounts for various legal
fines and forfeitures that the County is required to remit to the Macon County Board of
Education; the Motor Vehicle Tax Fund, which accounts for registered motor vehicle property
taxes that are billed and collected by the County for various municipalities and special districts
within the County; the Deed of Trust Fund which accounts for $6.20 of each fee collected by
the Register of Deeds for registering or filing a deed of trust; the Western Carolina Industrial
Partners Fund, which accounts for monies held by the County as agent for advertising and
promotions for Western North Carolina industries; the Hurricane Ivan Relief Fund, which
accounts for monies held for hurricane relief and recovery; and the 3% Interest Payable to State
Fund, which accounts for interest on delinquent motor vehicle taxes required to be remitted to
the State of North Carolina Department of Motor Vehicles.
In accordance with North Carolina General Statutes, all funds of the County are maintained
during the year using the modified accrual basis of accounting.
Government-Wide, Proprietary, and Fiduciary Fund Financial Statements. The government-
wide, proprietary, and fiduciary fund financial statements are reported using the economic
resources measurement focus, except for the agency funds which have no measurement focus
and are reported using the accrual basis of accounting. Revenues are recorded when earned,
and expenses are recorded at the time liabilities are incurred, regardless of when the related
cash flows take place. Non-exchange transactions, in which the County gives (or receives)
value without directly receiving (or giving) equal value in exchange, include property taxes,
grants, entitlements, and donations. On an accrual basis, revenue from property taxes is
recognized in the fiscal year for which the taxes are levied. Revenue from grants, entitlements,
and donations is recognized in the fiscal year in which all eligibility requirements have been
satisfied.
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Amounts reported as program revenues include: 1) charges to customers or applicants for
goods, services, or privileges provided; 2) operating grants and contributions; and 3) capital
grants and contributions, including special assessments. Internally dedicated resources are
reported as general revenues rather than as program revenues. Likewise, general revenues
include all taxes.
Proprietary funds distinguish operating revenues and expenses from non-operating items.
Operating revenues and expenses generally result from providing services and producing and
delivering goods in connection with a proprietary funds principal ongoing operations. The
principal operating revenues of the Countys enterprise funds are charges to customers for sales
and services. Operating expenses for the enterprise funds include the cost of sales and services,
administrative expenses, and depreciation on capital assets. All revenues and expenses not
meeting this definition are reported as non-operating revenues and expenses.
Governmental Fund Financial Statements. Governmental funds are reported using the current
financial resources measurement focus and the modified accrual basis of accounting. Under
this method, revenues are recognized when measurable and available.
Expenditures are recorded when the related fund liability is incurred, except for principal and
interest on long-term debt, claims and judgments, and compensated absences, which are
recognized as expenditures to the extent they have matured. General capital asset acquisitions
are reported as expenditures in governmental funds. Proceeds of general long-term debt and
acquisitions under capital leases are reported as other financing sources.
The County considers all revenues available if they are collected within 90 days after year-end,
except for property taxes. Ad valorem property taxes are not accrued as revenue because the
amount is not susceptible to accrual. At June 30, taxes receivable are materially past due and
are not considered to be an available resource to finance the operations of the current year.
Also, as of January 1, 1993, State law altered the procedures for the assessment and collection
of property taxes on registered motor vehicles in North Carolina. Effective with this change in
the law, Macon County is responsible for billing and collecting the property taxes on all
registered motor vehicles on behalf of all municipalities and special tax districts in the County.
For registered motor vehicles, property taxes are due the first day of the fourth month after the
vehicles are registered. The billed taxes are applicable to the fiscal year in which they become
due. Therefore, taxes for vehicles registered from March 2012 through February 2013 apply to
the fiscal year ended June 30, 2013. Uncollected taxes which were billed during this period are
shown as a receivable on these financial statements and are offset by deferred inflows of
resources.
Sales taxes and certain intergovernmental revenues, such as the utilities franchise tax, collected
and held by the State at year-end on behalf of the County, are recognized as revenue.
Intergovernmental revenues and sales and services are not susceptible to accrual because
generally they are not measurable until received in cash. Expenditure-driven grants are
recognized as revenue when the qualifying expenditures have been incurred and all other grant
requirements have been satisfied.
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Under the terms of grant agreements, the County funds certain programs by a combination of
specific cost-reimbursement grants, categorical block grants, and general revenues. Thus, when
program expenses are incurred, there is both restricted and unrestricted net position available to
finance the program. It is the Countys policy to first apply cost-reimbursement grant resources
to such programs, followed by categorical block grants, and then by general revenues.
C. Budgetary Data
The Countys budgets are adopted as required by North Carolina General Statutes. An annual
budget ordinance is adopted for the General Fund, the Debt Service Fund, the Emergency
Telephone System Fund, the Capital Reserve Fund, Fire Districts Fund, the Schools Capital
Fund, the Enterprise Fund, and the Internal Service Fund. All annual appropriations lapse at
fiscal year-end. Project ordinances are adopted for the Housing Grants (Special Revenue)
Fund, the Consolidated Capital Projects Fund, the Airport Improvements Fund, the Little
Tennessee River/Cartoogechaye Creek Sewer Trunk Project Fund, the County Buildings
Project Fund, and the Riverbend Estates Waterline Project Fund.
All budgets are prepared using the modified accrual basis of accounting. Expenditures may not
legally exceed appropriations at the departmental level for the General Fund, special revenue
funds, Enterprise Fund, and Internal Service Fund, or at the object level for the capital projects
funds. The County Manager is authorized by the budget ordinance to transfer appropriations
within a fund; however, any such transfers must be reported to the Board of Commissioners and
recorded in the minutes. During the year, several amendments to the original budget were
necessary, the effects of which were not material. The budget ordinance must be adopted by
July 1 of the fiscal year, or the governing Board must adopt an interim budget that covers that
time until the annual ordinance can be adopted.
D. Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Fund Equity
Deposits and Investments
All deposits of the County are made in Board-designated official depositories and are secured
as required by G.S. 159-31. The County may designate, as an official depository, any bank or
savings association whose principal office is located in North Carolina. Also, the County may
establish time deposit accounts such as NOW and SuperNOW accounts, money market
accounts, and certificates of deposit.
State law [G.S. 159-30(c)] authorizes the County to invest in obligations of the United States or
obligations fully guaranteed both as to principal and interest by the United States, obligations of
the State of North Carolina, bonds and notes of any North Carolina local government or public
authority, obligations of certain non-guaranteed Federal agencies, certain high quality issues of
commercial paper and bankers acceptances, and the North Carolina Capital Management Trust
(NCCMT).
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The Countys investments with a maturity of more than one year at acquisition and non-money
market investments are carried at fair value as determined by quoted market prices. The
securities of the NCCMT Cash Portfolio, an SEC-registered (2a-7) money market fund, are
valued at fair value, which is the NCCMTs share price. The NCCMT Term Portfolios
securities are valued at fair value. Money market investments that have a remaining maturity at
the time of purchase of one year or less are reported at amortized cost.
Cash and Cash Equivalents
The County pools money from several funds to facilitate disbursement and investment and to
maximize investment income. Therefore, all cash and investments are essentially demand
deposits and are considered cash and cash equivalents.
Restricted Assets
The restricted assets in the General Fund, in the amount of $2,584, represent amounts reserved
for the Public School Building Capital Fund. The restricted assets in the Consolidated Capital
Project Fund of $1,352,550 represents the balance of proceeds available under installment
purchase contracts to finance construction and renovations to schools.
Ad Valorem Taxes Receivable
In accordance with State law [G.S. 105-347 and G.S. 159-13(a)], the County levies ad valorem
taxes on property other than motor vehicles on July 1, the beginning of the fiscal year. The
taxes are due on September 1 (lien date); however, penalties and interest do not accrue until the
following January 6. These taxes are based on the assessed values as of January 1, 2012.
Allowances for Doubtful Accounts
All receivables that historically experience uncollectible accounts are shown net of an
allowance for doubtful accounts. This amount is estimated by analyzing the percentage of
receivables that were written off in prior years.
Inventories and Prepaid Items
Inventories are valued at cost (first-in, first-out method), which approximates market values.
The inventory of the General Fund consists of expendable supplies and is recorded as
expenditures when consumed.
Certain payments to vendors reflect costs applicable to future accounting periods and are
recorded as prepaid items, using the consumption method in both government-wide and fund
financial statements.
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Capital Assets
Purchased or constructed capital assets are reported at cost or estimated historical cost.
Donated assets are recorded at their estimated fair value at the date of donation. The County
has elected not to capitalize those interest costs which are incurred during the construction
period of capital assets. The Countys capitalization threshold is $5,000. The cost of normal
maintenance and repairs that do not add to the value of the asset or materially extend assets
lives are not capitalized.
The County holds title to certain Macon County Board of Education properties that have not
been included in capital assets. The properties have been deeded to the County to permit
installment purchase financing of acquisition and construction costs and to permit the County to
receive refunds of sales tax paid for construction costs. Agreements between the County and
the Board of Education give the Board of Education full use of the facilities, full responsibility
for maintenance of the facilities, and provide that the County will convey title to the property
back to the Board of Education after all restrictions of the financing agreements and all sales
tax reimbursement requirements have been met. The properties are reflected as capital assets in
the financial statements of the Macon County Board of Education.
Capital assets are depreciated on a straight-line basis over the following estimated useful lives:
Estimated
Asset Useful Lives
Buildings 15-20 years
Equipment 7 years
Vehicles 5 years
Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position will sometimes report a separate section
for deferred outflow of resources. This separate financial statement element, Deferred
Outflows of Resources, represents a consumption of net position that applies to future period
and so will not be recognized as an expense or expenditure until then. In addition to liabilities,
the statement of financial position can also report a separate section for deferred inflows of
resources. This separate financial statement element, Deferred Inflows of Resources, represents
an acquisition of net position that applies to a future period and so will not be recognized as
revenue until then. The County has four items that meet the criterion for this category
prepaid taxes, property taxes receivable, ambulance receivable, and public health receivable.
Long-Term Obligations
In the government-wide financial statements and in the proprietary fund types in the fund
financial statements, long-term debt and other long-term obligations are reported as liabilities
on the Statement of Net Position.
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In the fund financial statements for governmental fund types, the face amount of debt issued is
reported as other financing sources.
Compensated Absences
The vacation policy of the County provides for the accumulation of up to thirty (30) days
earned vacation leave, with such leave being fully vested when earned. All vacation pay is
accrued when earned in the government-wide and proprietary funds financial statements.
The Countys sick leave policy provides for an unlimited accumulation of earned sick leave.
Sick leave does not vest, but any unused sick leave accumulated at the time of retirement may
be used in the determination of length of service for retirement benefit purposes. Since the
County has no obligation for the accumulated sick leave until it is actually taken, no accrual for
sick leave has been made.
Net Position/Fund Balances
Net Position
Net position in the government-wide and proprietary funds financial statements are classified as
net investment in capital assets, restricted, and unrestricted. Restricted net position represents
constraints on resources that are either (a) externally imposed by creditors, grantors,
contributors, or laws or regulations of other governments or (b) imposed by law through State
statute.
Fund Balances
In the governmental fund financial statements, fund balance is composed of five classifications
designed to disclose the hierarchy of constraints placed on how fund balance can be spent.
The governmental fund types classify fund balances as follows:
Non-Spendable Fund Balance. This classification includes amounts that cannot be spent
because they are either (a) not in spendable form or (b) legally or contractually required to be
maintained intact.
Inventories portion of fund balance that is not an available resource because it represents the
year-end balance of ending inventories, which are not spendable resources.
Prepaids portions of fund balance that are not an available resource because it represents the
year-end balance of ending prepaids, which are not spendable resources.
Restricted Fund Balance. This classification includes revenue sources that are restricted to
specific purposes externally imposed or imposed by law.
Stabilization by State Statute portion of fund balance that is not an available resource for
appropriation in accordance with State law [G.S. 159-8(a)]. This amount is usually comprised
of accounts receivable and interfund receivables, which are not offset by deferred revenues.
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Restricted, all other fund balances at June 30, 2013 is as follows:
Consolidated Other
General Capital Governmental
Purpose Fund Project Funds
Restricted, all other:
Public safety 166,569 $ - $ 195,946 $
Education 143,961 1,352,550 -
Total 310,530 $ 1,352,550 $ 195,946 $
Restricted for Public Safety portion of fund balance restricted by revenue source for public
safety related activities such as police, fire, EMS, and E-911, including Title III timber receipts.
Restricted for Education portion of fund balance restricted by revenue source to be used to
support public education, including timber receipts which are restricted by the Federal
government for educational purposes.
Committed Fund Balance. This classification includes amounts that can be used only for the
specific purposes determined by a formal action of the governments highest level of decision-
making authority. The Board of Commissioners is the highest level of decision-making
authority for the government that can, by adoption of an ordinance prior to the end of the fiscal
year, commit fund balance. Once adopted, the limitation imposed by the ordinance remains in
place until a similar action is taken (the adoption of another ordinance) to remove or revise the
limitation.
Committed fund balance at June 30, 2013 is as follows:
Consolidated Other
General Capital Governmental
Purpose Fund Project Funds
Committed:
General government - $ - $ 1,337,859 $
Education - 93,037 -
Total - $ 93,037 $ 1,337,859 $
Committed for Education represents the portion of fund balance committed by the governing
body for education related purposes.
Committed for General Government represents the portion of fund balance committed by the
governing body for future governmental related capital projects.
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Assigned Fund Balance. Assigned fund balance is the portion of fund balance that Macon
County intends to use for specific purposes. The Countys governing body has the authority to
assign fund balance. The Manager and Finance Officer, as granted in the officially adopted
budget ordinance, have been granted limited authority to assign fund balance.
Assigned fund balance at June 30, 2013 is as follows:
General Debt Service
Purpose Fund Fund
Assigned:
Subsequent year's expenditures 2,121,220 $ - $
Debt service - 1,022,379
Total 2,121,220 $ 1,022,379 $
Subsequent Years Expenditures portion of fund balance that is appropriated in the next years
budget that is not already classified in restricted or committed. The governing board approves
the appropriation.
Assigned for Debt Service portion of fund balance budgeted by the governing board to be
used to service outstanding debt.
Unassigned Fund Balance. Unassigned fund balance represents the portion of fund balance
that has not been assigned to another fund or is not restricted, committed, or assigned to
specific purposes.
Macon County has a revenue spending policy that provides guidance for programs with
multiple revenue sources. The Finance Officer will use resources in the following order:
bond/debt proceeds, Federal funds, State funds, local funds, and County funds. For purposes of
fund balance classification, expenditures are to be spent from restricted fund balance first,
followed in order by committed fund balance, assigned fund balance, and lastly, unassigned
fund balance. The Finance Officer has the authority to deviate from this policy if it is in the
best interest of the County or when required by grant or other contractual agreements.
The County has not officially adopted a fund balance policy.
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The following schedule provides management and citizens with information on the portion of
General Fund balance that is available for appropriation.
Total fund balance - General Fund 20,613,771 $
Less:
Inventories 98,640
Prepaids 212,743
Stabilization by State statute 5,028,303
Total available fund balance 15,274,085 $
E. Revenues, Expenditures, and Expenses
Other Resources
The General Fund provides the basis of local resources for other governmental funds. These
transactions are recorded as transfers out in the General Fund and transfers in in the
receiving fund.
F. Accounting Estimates
The preparation of financial statements in conformity with generally accepted accounting
principles in the United States of America requires management to make estimates and
assumptions that affect certain reported amounts and disclosures. Accordingly, actual results
could differ from those estimates. Significant areas where estimates are made are allowance for
doubtful accounts, depreciation lives, and landfill closure and post-closure care costs.
2. Detail Notes on All Funds
A. Assets
Deposits
All of the Countys deposits are either insured or collateralized by using one of two methods.
Under the Dedicated Method, all deposits exceeding the Federal depository insurance coverage
level are collateralized with securities held by the Countys agent in the Countys name. Under
the Pooling Method, which is a collateral pool, all uninsured deposits are collateralized with
securities held by the State Treasurers agent in the name of the State Treasurer. Since the State
Treasurer is acting in a fiduciary capacity for the County these deposits are considered to be
held by the Countys agent in the entitys name. The amount of the pledged collateral is based
on an approved averaging method for non-interest-bearing deposits and the actual current
balance for interest-bearing deposits. Depositories using the Pooling Method report to the State
Treasurer the adequacy of their pooled collateral covering uninsured deposits. The State
Treasurer does not confirm this information with the County or with the escrow agent. Because
of the inability to measure the exact amount of collateral pledged for the County, under the
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Pooling Method, the potential exists for undercollateralization, and this risk may increase in
periods of high cash flows. However, the State Treasurer of North Carolina enforces strict
standards of financial stability for each depository that collateralizes public deposits under the
Pooling Method.
The County has no formal policy regarding custodial credit risk for deposits but relies on the
State Treasurer to enforce standards of minimum capitalization for all pooling method financial
institutions and to monitor them for compliance. The County complies with the provisions of
G.S. 159-31 when designating official depositories and verifying that deposits are properly
secured.
At June 30, 2013, the Countys deposits had a carrying amount of $9,828,826 and a bank
balance of $11,242,011. Of the bank balance, $500,000 was covered by Federal depository
insurance and $10,742,011 by collateral held under the Pooling Method. Cash on hand was
$2,300.
Investments
At June 30, 2013, the County had the following investments and maturities:
Less Than
Investment Type Fair Value 6 Months 6-12 Months
Commercial paper 8,702,476 $ - $ 8,702,476 $
North Carolina Capital Management
Trust-Cash Portfolio 15,269,385 N/A N/A
Total 23,971,861 $ - $ 8,702,476 $
Interest Rate Risk. The County does not have a formal investment policy that limits investment
maturities as a means of managing its exposure to fair value losses arising from rising interest
rates.
Credit Risk. State law limits investments in commercial paper to the top rating issued by
nationally recognized statistical rating organizations (NRSROs); however, the County had no
formal policy on managing credit risk. As of June 30, 2013, the Countys investments in
commercial paper were rated A1 by Standard & Poors, F1 by Fitch Ratings, and P1 by
Moodys Investors Service. The Countys investments in the NC Capital Management Trust
Cash Portfolio carried a credit rating of AAAm by Standard & Poors as of June 30, 2013.
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Concentration of Credit Risk. The County places no limit on the amount that the County may
invest in any one issuer. More than 5% of the Countys investments were in the following
securities:
% of
Total
Investment Type
Investment
Commercial Paper:
Abbey National North America 17.56%
Societe Generale North America 10.39%
Property Tax Use-Value Assessment on Certain Lands
In accordance with the General Statutes, agriculture, horticulture, and forestland may be taxed
by the County at the present-use value as opposed to market value. When the property loses its
eligibility for use value taxation, the property tax is recomputed at market value for the current
year and the three preceding fiscal years, along with the accrued interest from the original due
date. This tax is immediately due and payable. The following are property taxes that could
become due if present-use value eligibility is lost. These amounts have not been recorded in
the financial statements.
Fiscal Year
Levied Tax Interest Total
2007 1,067,293 $ 60,035 $ 1,127,328 $
2008 1,247,005 72,040 1,319,045
2009 1,280,724 73,987 1,354,711
2010 1,408,592 - 1,408,592
2011 1,407,716 - 1,407,716
2012 1,412,379 - 1,412,379
Total 7,823,709 $ 206,062 $ 8,029,771 $
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Receivables
Receivables at Exhibit A at June 30, 2013 were as follows:
Due from
Other
Accounts Taxes Interest Governments Total
General 825,318 $ 2,007,073 $ 18,299 $ 3,719,557 $ 6,570,247 $
Other governmental 2,654,452 272,860 - 445,199 3,372,511
Allowance for doubtful accounts - (1,030,013) - - (1,030,013)
Total governmental activities 3,479,770 $ 1,249,920 $ 18,299 $ 4,164,756 $ 8,912,745 $
Solid waste 486,428 $ - $ 523 $ 2,865 $ 489,816 $
Allowance for doubtful accounts (183,160) - - - (183,160)
Total business-type activities 303,268 $ - $ 523 $ 2,865 $ 306,656 $
Due from other governments consisted of the following:
Governmental Business-Type
Local option sales and use tax/sales tax refund 272,057 $ 2,865 $
Grants receivable/other 3,892,699 -
Total 4,164,756 $ 2,865 $
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Governmental Capital Assets
A summary of changes in the Countys governmental capital assets follows:
July 1, 2012 Additions Retirements Transfers June 30, 2013
Non-Depreciable Assets:
Land 9,104,281 $ 593,797 $ - $ - $ 9,698,078 $
Construction in progress 354,952 226,949 - (44,479) 537,422
Depreciable Assets:
Buildings and improvements 26,089,890 679,312 - 44,479 26,813,681
Equipment 2,539,709 523,809 (246,839) - 2,816,679
Vehicles 5,180,244 572,864 (175,177) - 5,577,931
Total 43,269,076 2,596,731 (422,016) - 45,443,791
Less Accumulated Depreciation:
Buildings and improvements 13,383,851 1,100,168 - - 14,484,019
Equipment 2,061,097 149,414 (190,404) - 2,020,107
Vehicles 4,364,814 351,508 (175,177) - 4,541,145
Total accumulated depreciation 19,809,762 1,601,090 (365,581) - 21,045,271
Capital assets, net 23,459,314 $ 995,641 $ (56,435) $ - $ 24,398,520 $
Depreciation expense was charged to functions/programs of the primary government as
follows:
General government 525,521 $
Public safety 498,285
Economic and physical development 1,550
Transportation 106,256
Human services 96,486
Cultural and recreational 372,992
Total 1,601,090 $
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Proprietary Capital Assets
The capital assets of the Proprietary Fund at June 30, 2013 are as follows:
July 1, 2012 Additions Retirements Transfers June 30, 2013
Non-Depreciable Assets:
Construction in progress 23,179 $ - $ - $ (23,179) $ - $
Land 460,837 - - - 460,837
Depreciable Assets:
Buildings and improvements 9,395,567 67,393 - 23,179 9,486,139
Equipment 2,221,473 - - - 2,221,473
Vehicles 704,863 68,385 (28,777) - 744,471
Total 12,805,919 135,778 (28,777) - 12,912,920
Less Accumulated Depreciation:
Buildings and improvements 8,135,136 90,610 - - 8,225,746
Equipment 1,714,162 197,282 - - 1,911,444
Vehicles 685,267 15,784 (28,777) - 672,274
Total accumulated depreciation 10,534,565 303,676 (28,777) - 10,809,464
Capital assets, net 2,271,354 $ (167,898) $ - $ - $ 2,103,456 $
Summary Disclosure of Significant Construction Commitments
At June 30, 2013, the County had commitments of approximately $165,665 for water and sewer
construction, of which $126,408 is grant funds and $39,257 is a forgiveness loan. The County
also has commitments of $695,344 for school construction, all loan funds.
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B. Liabilities
Payables
Payables at Exhibit A at June 30, 2013 were as follows:
Insurance
Claims
Salaries and Incurred But
Vendors Benefits Not Reported Total
Governmental Activities
2,310,508 $ 806,818 $ 168,419 $ 3,285,745 $
Solid waste 137,797 $ 46,701 $ - $ 184,498 $
Pension Plan and Other Post-Employment Obligations
Local Governmental Employees Retirement System
Plan Description. Macon County contributes to the State-Wide Local Governmental
Employees Retirement System (LGERS), a cost-sharing, multiple-employer defined benefit
pension plan administered by the State of North Carolina. LGERS provides retirement and
disability benefits to plan members and beneficiaries. Article 3 of G.S. Chapter 128 assigns the
authority to establish and amend benefit provisions to the North Carolina General Assembly.
The LGERS is included in the Comprehensive Annual Financial Report (CAFR) for the State
of North Carolina. The States CAFR includes financial statements and required
supplementary information for LGERS. That report may be obtained by writing to the Office
of the State Controller, 1410 Mail Service Center, Raleigh, North Carolina 27699-1410, or by
calling (919) 981-5454.
Funding Policy. Plan members are required to contribute 6% of their annual covered salary.
The County is required to contribute at an actuarially determined rate. For the County, the
current rate for employees not engaged in law enforcement and for law enforcement officers is
6.74% and 6.77%, respectively, of annual covered payroll. The contribution requirements of
members and of Macon County are established and may be amended by the North Carolina
General Assembly. The Countys contributions to LGERS for the years ended June 30, 2013,
2012, and 2011 were $924,490, $922,113, and $823,724, respectively. The contributions made
by the County equaled the required contributions for each year.
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Law Enforcement Officers Special Separation Allowance
Plan Description. Macon County administers a public employee retirement system (the
Separation Allowance), a single-employer defined benefit pension plan that provides
retirement benefits to the Countys qualified sworn law enforcement officers. The Separation
Allowance is equal to .85% of the annual equivalent of the base rate of compensation most
recently applicable to the officer for each year of creditable service. The retirement benefits are
not subject to any increases in salary or retirement allowances that may be authorized by the
General Assembly. Article 12D of G.S. Chapter 143 assigns the authority to establish and
amend benefit provisions to the North Carolina General Assembly. The Plan does not issue a
separate stand-alone financial report. Each local government makes benefit payments required
under this plan.
All full-time County law enforcement officers are covered by the Separation Allowance. At
December 31, 2012, the Separation Allowances membership consisted of 49 active plan
members and 1 retired member receiving benefits.
Summary of Significant Accounting Policies
Basis of Accounting. The County has chosen to fund the Separation Allowance on a pay-as-
you-go basis. There are no plan assets and the liability is not material; therefore, the Plan is not
presented as a pension trust fund in the Countys Comprehensive Annual Financial Report.
Pension expenditures are made from the General Fund, which is maintained on the modified
accrual basis of accounting.
Method Used to Value Investments. No funds are set aside to pay benefits and administration
costs. These expenditures are paid as they come due.
Contributions. The County is required by Article 12D of G.S. Chapter 143 to provide these
retirement benefits and has chosen to fund the benefit payments on a pay-as-you-go basis
through appropriations made in the General Fund operating budget. The Countys obligation to
contribute to this plan is established and may be amended by the North Carolina General
Assembly. There were no contributions made by employees.
The annual required contribution for the fiscal year ended June 30, 2013 was determined as part
of the December 31, 2011 actuarial valuation using the projected unit credit actuarial cost
method. The actuarial assumptions included (a) 5.00% investment rate of return and (b)
projected salary increases ranging from 4.25% to 7.85% per year. The inflation component was
3.00%. The assumptions do not include post-retirement benefit increases. The actuarial value
of assets was market value. The unfunded actuarial accrued liability is being amortized as a
level percentage of pay on a closed basis. The remaining amortization period at December 31,
2011 is 19 years.
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Annual Pension Cost and Net Pension Obligation
The Countys annual pension cost and net pension obligation to the Separation Allowance for
the current year were as follows:
Employer annual required contribution 65,185 $
Interest on net pension obligation 16,558
Adjustment to annual required contribution (20,609)
Annual pension cost 61,134
Employer contributions made for fiscal
year ending June 30, 2013 4,631
Increase (decrease) in net pension obligation 56,503
Net pension obligation:
Beginning of year - July 1 331,168
End of year - June 30 387,671 $
Fiscal Annual Percentage Net
Year Ended Pension of APC Pension
June 30 Cost (APC) Contributed Obligation
2011 60,497 $ 4.82% 277,494 $
2012 53,674 0.00% 331,168
2013 61,134 7.58% 387,671
Three-Year Trend Information
Funded Status and Funding Progress
As of December 31, 2012, the most recent actuarial valuation date, the plan was not funded.
The actuarial accrued liability for benefits was $487,063, and the actuarial value of assets was
$-0-, resulting in an unfunded actuarial accrued liability (UAAL) of $487,063. The covered
payroll (annual payroll of active employees covered by the plan) was $2,077,367, and the ratio
of the UAAL to the covered payroll was 23.45%.
The Schedule of Funding Progress, presented as required supplementary information following
the Notes to the Financial Statements, presents multi-year trend information about whether the
actuarial value of the plan assets are increasing or decreasing over time, relative to the actuarial
accrued liability benefits.
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Supplemental Retirement Income Plan for Law Enforcement Officers
Plan Description. The County contributes to the Supplemental Retirement Income Plan
(Plan), a defined contribution pension plan administered by the Department of State Treasurer
and a Board of Trustees. The plan provides retirement benefits to law enforcement officers
employed by the County. Article 5 of G.S. Chapter 135 assigns the authority to establish and
amend benefit provisions to the North Carolina General Assembly. The Supplemental
Retirement Income Plan for Law Enforcement Officers is included in the Comprehensive
Annual Financial Report (CAFR) for the State of North Carolina. The States CAFR includes
pension trust fund financial statements for the Internal Revenue Code Section 401(k) plan that
includes the Plan for Law Enforcement Officers. That report may be obtained by writing to the
Office of the State Controller, 1410 Mail Service Center, Raleigh, North Carolina 27699-1410,
or by calling (919) 981-5454.
Funding Policy. Article 12E of G.S. Chapter 143 requires that the County contribute each
month an amount equal to 5% of each officers salary, and all amounts contributed are vested
immediately. Also, the law enforcement officers may make voluntary contributions to the plan.
Contributions for the year ended June 30, 2013 were $160,731, which consisted of $101,558
from the County and $59,173 from the law enforcement officers.
Register of Deeds Supplemental Pension Fund
Plan Description. Macon County also contributes to the Register of Deeds Supplemental
Pension Fund (Fund), a non-contributory, defined contribution plan administered by the North
Carolina Department of State Treasurer. The fund provides supplemental pension benefits to
any County register of deeds who is retired under the Local Governmental Employees
Retirement System (LGERS) or an equivalent locally sponsored plan. Article 3 of G.S.
Chapter 161 assigns the authority to establish and amend benefit provisions to the North
Carolina General Assembly. The Registers of Deeds Supplemental Pension Fund is included
in the Comprehensive Annual Financial Report (CAFR) for the State of North Carolina. The
States CAFR includes pension trust fund financial statements for the Internal Revenue Code
Section 401(k) plan that includes the Supplemental Retirement Income Plan for Law
Enforcement Officers. That report may be obtained by writing to the Office of the State
Controller, 1410 Mail Service Center, Raleigh, North Carolina 27699-1410, or by calling (919)
981-5454.
Funding Policy. On a monthly basis, the County remits to the Department of State Treasurer
an amount equal to one and one-half percent (1.5%) of the monthly receipts collected pursuant
to Article 3 of G.S. 161. Immediately following January 1 of each year, the Department of
State Treasurer divides ninety-three percent (93%) of the amount in the fund at the end of the
preceding calendar year into equal shares to be disbursed as monthly benefits. The remaining
seven percent (7%) of the funds assets may be used by the State Treasurer in administering the
fund. For the fiscal year ended June 30, 2013, the Countys required and actual contributions
were $4,107.
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Other Post-Employment Benefits Healthcare Benefits
Plan Description. In addition to providing pension benefits, the County has elected to provide
post-retirement healthcare benefits to retirees of the County who participate in the North
Carolina Local Government Employees Retirement System (System) and have at least fifteen
years of creditable service with the County. The County pays the full cost of coverage for these
benefits to qualifying retirees. Also, retirees with thirty or more years of creditable service can
purchase coverage for their dependents at the Countys group rates. Currently, 43 retirees are
eligible for post-retirement health benefits. For the fiscal year ended June 30, 2013, the County
made payments for post-retirement health benefit premiums of $301,583. The plan is a single-
employer defined benefit plan. The County obtains healthcare coverage through private
insurers. A separate report was not issued for the plan.
Membership of the plan consisted of the following at December 31, 2011, the date of the latest
actuarial valuation:
Law
General Enforcement
Employees Officers
Retirees and dependents receiving benefits 38 N/A
Terminated plan members entitled to, but
not yet receiving, benefits - -
Active plan members 324 45
Total 362 45
Funding Policy. The County pays 100% of the cost of coverage for the healthcare benefits
paid to qualified retirees under a County resolution that can be amended by the County Board.
The Countys members pay the current active employee rate for dependent coverage, if the
retiree qualifies and elects to purchase the coverage. The County has chosen to fund the
healthcare benefits on a pay-as-you-go basis.
The current ARC rate is 17.03% of annual covered payroll. For the current year, the County
contributed $301,583, or 2.28% of annual covered payroll. The County obtains healthcare
coverage through private insurers. There were no contributions made by employees, except for
dependent coverage in the amount of $10,200. The Countys obligation to contribute to the
Plan is established and may be amended by the County Board.
Summary of Significant Accounting Policies
Post-employment expenditures are made from the General Fund, which is maintained on the
modified accrual basis of accounting. No funds are set aside to pay benefits and administration
costs. These expenditures are paid as they come due.
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Annual OPEB Cost and Net Obligation
The Countys annual OPEB cost (expense) is calculated based on the annual required
contribution of the employer (ARC), an amount actuarially determined in accordance with the
parameters of GASB Statement No. 45. The ARC represents a level of funding that, if paid on
an ongoing basis, is projected to cover normal cost each year and amortize any unfunded
actuarial liabilities (or funding excess) over a period not to exceed 30 years. The following
table shows the components of the Countys annual OPEB cost for the year, the amount
actually contributed to the plan, and changes in the Countys net OPEB obligation for the
healthcare benefits:
Activities Activities Total
Annual required contribution 2,122,392 $ 130,439 $ 2,252,831 $
Interest on net OPEB obligation 259,635 15,957 275,592
Adjustments to annual required contribution (248,032) (15,244) (263,276)
Annual OPEB cost (expense) 2,133,995 131,152 2,265,147
Contributions made (284,121) (17,462) (301,583)
Increase (decrease) in net OPEB obligation 1,849,874 113,690 1,963,564
Net OPEB obligation:
Beginning of year - July 1 6,530,893 358,904 6,889,797
End of year - June 30 8,380,767 $ 472,594 $ 8,853,361 $
The Countys annual OPEB cost, the percentage of annual OPEB cost contributed to the plan,
and the net OPEB obligation as of June 30, 2013 were as follows:
Year Ended OPEB Annual OPEB OPEB
June 30 Cost Cost Contributed Obligation
2011 1,976,023 $ 9.7% 4,755,152 $
2012 2,261,331 5.6% 6,889,797
2013 2,265,147 13.3% 8,853,361
Fund Status and Funding Progress
As of December 31, 2011, the most recent actuarial valuation date, the plan was not funded.
The actuarial accrued liability for benefits and, thus, the unfunded actuarial accrued liability
(UAAL), was $24,138,030. The covered payroll (annual payroll of active employees covered
by the plan) was $13,228,526, and the ratio of the UAAL to the covered payroll was 182.5%.
Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and
assumptions about the probability of occurrence of events far into the future. Examples include
assumptions about future employment, mortality, and healthcare trends. Amounts determined
regarding the funded status of the plan, and the annual required contributions of the employer
are subject to continual revision as actual results are compared with past expectations and new
54
estimates are made about the future. The Schedule of Funding Progress, presented as required
supplementary information following the Notes to the Financial Statements, presents multi-year
trend information about whether the actuarial value of plan assets are increasing or decreasing,
over time, relative to the actuarial accrued liability benefits.
Actuarial Methods and Assumptions
Projections of benefits for financial reporting purposes are based on the substantive plan (the
plan as understood by the employer and the plan members) and include the types of benefits
provided at the time of each valuation and the historical pattern of sharing of benefit costs
between the employer and plan members at that point. The actuarial methods and assumptions
used include techniques that are designed to reduce the effects of short-term volatility in
actuarial accrued liabilities and the actuarial value assets, consistent with the long-term
perspective of the calculations.
In the December 31, 2011 actuarial valuation, the projected unit credit actuarial cost method
was used. The actuarial assumptions included a 4.00% investment rate of return (net of
administrative expenses), which is the expected long-term investment returns on the employers
own investments calculated based on the funded level of the plan at the valuation date, and an
annual pre-medical cost trend rate increase of 9.50% to 5.00% annually and an annual post-
Medicare trend rate increase of 7.00% to 5.00% annually. Both rates included a 3.00%
inflation assumption. The actuarial value of assets, if any, was determined using techniques
that spread the effects of short-term volatility in the market value of investments over a five-
year period. The UAAL is being amortized as a level percentage of pay on an open basis. The
remaining amortization period at December 31, 2011 was 30 years.
As of June 30, 2013, management had not decided on the funding options for this outstanding
obligation; therefore, OPEB will continue to be funded on a pay-as-you-go basis going into the
next fiscal year. Management will continue their efforts to find a way to fund the annual
required contribution while maintaining the level of service as prioritized by the County Board
of Commissioners.

Other Employment Benefits
The County has elected to provide death benefits to employees through the Death Benefit Plan
for Members of the Local Governmental Employees Retirement System (Death Benefit Plan),
a multi-employer, State-administered, cost-sharing plan funded on a one-year term cost basis.
The beneficiaries of those employees who die in active service after one year of contributing
membership in the system, or who die within 180 days after retirement or termination of service
and have at least one year of contributing membership service in the system at the time of death
are eligible for death benefits. Lump-sum death benefit payments to beneficiaries are equal to
the employees 12 highest months salary in a row during the 24 months prior to his/her death,
but the benefit will be a minimum of $25,000 and will not exceed $50,000. All death benefit
payments are made from the Death Benefit Plan. The County has no liability beyond the
payment of monthly contributions. Contributions are determined as a percentage of monthly
payrolls, based upon rates established annually by the State. Separate rates are set for
employees not engaged in law enforcement and for law enforcement officers. Because the
benefit payments are made by the Death Benefit Plan and not by the County, the County does
55
not determine the number of eligible participants. For the fiscal year ended June 30, 2013, the
County wasnt required to make contributions to the State for death benefits. Due to a surplus
in the plan, the County was granted temporary contribution relief for a three-year period
beginning July 1, 2012, for both employees not engaged in law enforcement and for law
enforcement officers.
Landfill Closure and Post-Closure Care Costs
Federal and State laws and regulations require the County to place a final cover on its landfills
when they stop accepting waste and to perform certain maintenance and monitoring functions
at the site for thirty years after closure. The County has operated three different landfills. The
Old Franklin Landfill was opened in approximately 1962 and stopped accepting waste on
December 31, 1992 and has since been closed. The Highlands Landfill has been operated by
the County since approximately 1985 and stopped accepting waste on October 8, 1993 and was
completely closed during the next year. The old landfills continue to require monitoring and
some remediation activities. Macon County opened the New Franklin Landfill in May 1992.
During 1999, the County expanded the cell at the New Franklin Landfill. Although the closure
and post-closure care costs for these landfills are being paid near or after the date that the
landfill stops accepting waste, the County reports a portion of these closure and post-closure
care costs as an operating expense in each period based on landfill capacity used as of each
balance sheet date. The $5,503,100 reported as landfill closure and post-closure care liability at
June 30, 2013 represents the cumulative amount reported to date for the closure and post-
closure care costs of all landfills noted above. Of the cumulative amount reported to date,
$4,960,000 reflects the costs of the New Franklin Landfill. The new landfill costs are based on
85.31% of the total estimated capacity of the landfill. The County will recognize the remaining
estimated cost of closure and post-closure care of $854,000 as the remaining capacity is filled.
These amounts are based on what it would cost to perform all closure and post-closure care in
2013. The County expects to close the current cells of the New Franklin Landfill in 2016.
Actual costs may be higher due to inflation, changes in technology, or changes in regulations.
The County has met the requirements of a local government financial test that is one option
under State and Federal laws and regulations that help determine if a unit is financially able to
meet closure and post-closure care requirements. However, the County has also elected to
establish a reserve fund to accumulate resources for the payment of closure and post-closure
care costs. A transfer of $286,389 was made to the Landfill Closure and Post-closure Reserve
Fund during the fiscal year ended June 30, 2013, and those funds are held in the NCCMT
account at year-end. The County expects that future inflation costs will be paid from the
interest earnings on these annual contributions. However, if interest earnings are inadequate or
additional post-closure care requirements are determined (due to changes in technology or
applicable laws or regulations, for example), these costs may need to be covered by charges to
future landfill users or by future tax revenues.
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Deferred Inflows of Resources/Unearned Revenues
The balance in deferred inflows of resources on the fund statements and the government-wide
statements at June 30, 2013 are composed of the following elements:
General Fire District General Fire District
Fund Fund Fund Fund
Taxes receivable (net) 1,100,264 $ 149,656 $ - $ - $
Ambulance fees receivable 554,706 - - -
Other (net) 206,825 - - -
Taxes collected in advance - - 123,406 -
Total 1,861,795 $ 149,656 $ 123,406 $ - $
Unavailable Revenues Unearned Revenues
Risk Management
The County is exposed to various risks of losses related to torts; theft of, damage to, and
destruction of assets; errors and omissions; injuries to employees; and natural disasters. The
County participates in one of the self-funded risk financing pools administered by the Risk
Management Agency of the North Carolina Association of County Commissioners. Through
this pool, the County obtains property coverage equal to replacement value of owned property
subject to a limit of $63,542,200 and general, auto, professional, and employment practices
liability coverage of $2,000,000. The County obtains workers compensation coverage through
North Carolina Association of County Commissioners.
The County is self-insured for all other risks of loss, including employee health and accident
insurance. A third-party administrator, paid by the County, administers health benefits and
pays claims. The County has stop-loss insurance coverage with a commercial insurance
company for claims that exceed $80,000. Settled claims from these risks have not exceeded
commercial insurance coverage in any of the last three fiscal years.
Macon County is a certified County participating under the National Flood Insurance Program
applicable to FEMA flood zones A, AE, AH, and HO, and coverage is through the North
Carolina Association of County Commissioners Insurance Pool Program. Deductibles are
$25,000 per occurrence. Deductibles are funded in a reserve in the General Fund. Coverage
limits are 1 million per occurrence in excess of NFIP coverage.
Liabilities of the fund are reported when it is probable that a loss has occurred and the amount
of the loss can be reasonably estimated. Liabilities include an amount for claims that have been
incurred, but not reported (IBNRs). The Countys claims incurred, but not reported, are
considered a current liability and are included in accounts payable of the Internal Service Fund.
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Changes in the balances of claims liabilities during the past fiscal year are as follows:
2013 2012
Unpaid claims - beginning 283,123 $ 385,490 $
Incurred claims 3,966,331 3,473,145
Claim payments (4,081,035) (3,575,512)
Unpaid claims - ending 168,419 $ 283,123 $
In accordance with G.S. 159-29, the Countys employees that have access to $100 or more at
any given time of the Countys funds are performance bonded through a commercial surety
bond. The Finance Director and Tax Collector are each individually bonded for $250,000. The
County Manager and the Register of Deeds are bonded for $75,000 and $50,000 each,
respectively. The remaining employees that have access to funds are bonded under a blanket
bond for $100,000.
Contingent Liabilities
At June 30, 2013, the County was a defendant to various lawsuits. In the opinion of the
Countys management and the County attorneys, the ultimate effect of these legal matters will
not have a material adverse effect on the Countys financial position.
Long-Term Obligations
Installment Purchase Contracts
Serviced by Governmental Funds:
The County entered into a refunding certificate of participation contract dated
April 15, 2004, in the amount of $17,165,000 to refund various installment debt,
including school construction. The contract is payable in eleven (11) annual
installments ranging from $610,000 to $1,820,000, plus interest ranging from
2.25% to 5.0% per annum. 2,250,000 $
The County entered into an installment purchase contract dated July 29, 2005,
in the amount of $5,000,000 for library and community college expansion.
The contract is payable in thirty (30) semi-annual installments of $166,667,
plus interest at 2.19% per annum. 2,500,000
$2,000,000 East Franklin School Qualified Zone Academy Bonds requiring 30
semi-annual deposits of $52,795 into a Debt Service Fund; final payment of
the bonds is December 13, 2022. 1,419,258
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Serviced by Governmental Funds (continued):
The County entered into an installment purchase contract dated December 10,
2007, in the amount of $2,600,000 for acquisition of land to be used for public
school purposes. The contract is payable in thirty (30) semi-annual installments
of $86,667, plus interest at 2.49% per annum. 1,733,334
The County entered into an installment purchase contract dated July 8, 2009,
in the amount of $20,000,000 for 5-6 Grade School and an addition to East
Franklin Elementary. The contract is payable in forty (40) semi-annual
installments of $500,000, plus interest at 2.61% per annum. 15,500,000
The County entered into an installment purchase agreement dated December 8,
2009, in the amount of $500,000 for purchase of equipment and vehicles. The
contract is payable in ten (10) semi-annual installments of $50,000, plus interest
at 3.08% per annum. 150,000
$1,800,000 Nantahala School Qualified Zone Academy Bonds requiring 30
semi-annual deposits of $60,000, plus interest into a Debt Service Fund; final
payment of the bonds is December 18, 2024. 1,440,000
$12,889,667 Iotla Valley School Project Qualified School Construction Bonds
requiring 34 semi-annual deposits of $379,108, plus interest into a Debt Service
Fund; final payment of the bonds is October 12, 2028. 10,994,128
The County entered into a note payable agreement dated September 1, 2009,
in the amount of $2,043,250, 2.56% interest, with annual installments
of $102,163, with a final payment due in 2031, secured by water lines. 1,838,925
The County entered into an installment purchase agreement dated September 25, 2012,
in the amount of $1,500,000 for acquisition of computer equipment to be used for public
school purposes. The agreement is payable in ten (10) semi-annual installments
ranging from $145,204 to $154,889, plus interest at 1.44% per annum. 1,199,907
The County entered into an installment purchase agreement dated March 12, 2013,
in the amount of $374,000 for defibrillators. The agreement is payable in ten (10)
semi-annual installments ranging from $36,093 to $38,775, plus interest at 1.57%
per annum. 374,000
$1,500,000 Highlands School Renovation Qualified Zone Academy Bonds requiring
ten (10) annual payments of $150,000; final payment of the bonds is April 26, 2023. 1,500,000
Total installment contracts 40,899,552 $
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Debt Service Requirements
The following tables summarize the annual requirements to amortize all long-term debt
outstanding (excluding vacation pay and pension benefit obligation) as of June 30, 2013:
General Long-Term Debt:
Installment Contracts:
Year Ending
June 30 Principal Interest
2014 4,848,655 $ 1,356,173 $
2015 3,774,040 1,175,775
2016 3,119,504 1,056,964
2017 3,125,048 961,603
2018 2,819,832 867,224
2019-2023 13,243,202 3,002,629
2024-2028 9,162,783 990,529
2029-2031 806,488 22,217
Total 40,899,552 $ 9,433,114 $
At June 30, 2013, the County had a legal debt margin of $705,482,642.
Debt Related to Capital Activities
Of the total governmental activities debt listed, only $5,620,339 relates to assets the County
holds title. Unspent restricted cash related to the school debt amounts to $1,352,550.
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Long-Term Obligation Activity
A summary of changes in long-term debt for the fiscal year ended June 30, 2013 follows:
Current
Balance Balance Portion of
June 30, 2012 Increases Decreases June 30, 2013 Balance
Installment contracts 42,453,279 $ 3,374,000 $ 4,927,727 $ 40,899,552 $ 4,848,655 $
Compensated absences 846,349 811,230 690,564 967,015 96,702
Other post-employment
benefits 6,530,893 2,133,995 284,121 8,380,767 -
LEO separation allowance 331,168 61,134 4,631 387,671 -
Total governmental activities 50,161,689 $ 6,380,359 $ 5,907,043 $ 50,635,005 $ 4,945,357 $
Installment contracts 200,000 $ - $ 200,000 $ - $ - $
Accrued landfill closure
and post-closure care cost 5,112,000 443,000 51,900 5,503,100 50,000
Other post-employment
benefits 358,904 131,152 17,462 472,594 -
Compensated absences 45,802 41,147 35,880 51,069 5,107
Total business-type activities 5,716,706 $ 615,299 $ 305,242 $ 6,026,763 $ 55,107 $
Compensated absences typically have been liquidated in the General Fund and are accounted
for on a LIFO (last-in, first-out) basis, assuming that employees are taking leave time as it is
earned. Other post-employment benefits and pension obligations are typically liquidated in the
General Fund.
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C. Net Investment in Capital Assets
Net investment in capital assets at June 30, 2013 is computed as follows:
Capital assets, net of accumulated depreciation 24,398,520 $ 2,103,456 $
Less capital debt:
Gross debt 40,899,552 -
Less school debt related to assets which
the County does not hold title to (35,279,213) -
County related debt 5,620,339 -
Net investment in capital assets 18,778,181 $ 2,103,456 $
D. Interfund Balances and Activity
From To Purpose
Transfers From/To Other Funds:
General Fund:
General Fund 4,281,025 $ 99,712 $ Various purposes
Other Governmental Funds:
Emergency Telephone System Fund - 19,370 Reimbursement of ineligible expenditures
Airport Improvements Fund - 29,753 Grant matching funds
Schools Capital Fund 1,606,785 - Debt retirement
CDBG Housing Fund - 27,614 Administrative funds
Capital Reserve Fund 99,712 - Economic development
Debt Service Fund:
Debt Service Fund - 5,811,073 Debt retirement
Total 5,987,522 $ 5,987,522 $
Transfers
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The following is a summary of interfund receivables and payables:
Receivable Fund Payable Fund Amount Purpose
General Fund Schools Capital Fund 343,834 $ Temporary reimbursement of
General Fund Riverbend Estates Waterline Project Fund 132,575 cash over drafts
General Fund Little TN River/Cartoogechaye
Creek Sewer Trunk Project Fund 193,296
General Fund Airport Improvements Fund 495,954
General Fund Housing Grants Fund 61,001
Total 1,226,660 $
The interfund balances above are advances until project funding is received.
3. Related Party
The County entered into a lease on January 11, 2011, to lease office space in a building owned by
one of the Commissioners of the Macon County Board of Commissioners. At June 30, 2013, lease
expense for this lease amounted to $3,000.
4. Joint Ventures
Fontana Regional Library
The County participates in a joint venture to operate the Fontana Regional Library (Library) with
five other local governments. Each participating county may appoint three Board members to the
nine-member Board of the Library. The County has an ongoing financial responsibility for the joint
venture, because the Librarys continued existence depends on the participating governments
continued funding. None of the participating governments have any equity interest in the Library,
so no equity interest has been reflected in the financial statements at June 30, 2013. In accordance
with the intergovernmental agreement between the participating governments, the County
appropriated $951,390 to the Library to supplement its activities. Complete financial statements for
the Library may be obtained from the Librarys offices at 33 Fryemont Street, Bryson City, North
Carolina 28713.
5. Jointly Governed Organizations
Southwestern North Carolina Planning and Economic Development Commission
The County, in conjunction with seven other counties and sixteen municipalities, established the
Southwestern North Carolina Planning and Economic Development Commission (Commission).
The participating governments established the Commission to coordinate funding received from
various Federal and State agencies. Each participating government appoints one member to the
Commissions 23-member governing Board.
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Smoky Mountain Mental Health Center
The County, in conjunction with seven other counties, established the Smoky Mountain Mental
Health Center (Center). The participating governments established the Center to provide mental
health services to the Western Region of North Carolina. Each participating government appoints
one member to the Centers governing Board. The County contributed $106,623 to the Center
during the fiscal year ended June 30, 2013.
Southwestern Community College
The County, in conjunction with the State of North Carolina, one other county and two Boards of
Education, participates in a joint venture to operate Southwestern Community College (Community
College). The County appoints two members; the State, the other County, and the Boards of
Education appoint 11 members of the 13-member Board of Trustees of the Community College.
The Community College is included as a component unit of the State. The County has the basic
responsibility for providing funding for the facilities of the Community College and also provides
some financial support for the Community Colleges operations. The County has an ongoing
financial responsibility for the Community College because of the statutory responsibilities to
provide funding for the Community Colleges facilities. The County contributed $431,063 to the
Community College for operating and capital purposes during the fiscal year ended June 30, 2013.
The participating governments do not have any equity interest in the joint venture; therefore, no
equity interest has been reflected in the Countys financial statements at June 30, 2013. Complete
financial statements for the Community College may be obtained from the Community Colleges
administrative offices at 275 Webster Road, Franklin, North Carolina 28779.
6. Summary Disclosure of Significant Commitments and Contingencies
Federal and State-Assisted Programs
The County has received proceeds from Federal and State grants. Periodic audits of these grants
are required and certain costs may be questioned as not being appropriate expenditures under the
grant agreements. Such audits could result in the refund of grant monies to the grantor agencies.
Management believes that any required refunds will be immaterial. No provision has been made in
the accompanying financial statements for the refund of grant monies.
64
7. Benefit Payments Issued by the State
The amounts listed below were paid directly to individual recipients by the State from Federal and
State monies. County personnel are involved with certain functions, primarily eligibility
determinations that cause benefit payments to be issued by the State. These amounts disclose this
additional aid to County recipients, which do not appear in the basic financial statements, because
they are not revenues and expenditures of the County.
Federal State
Medicaid 25,136,299 $ 14,153,259 $
Temporary Assistance to Needy Families 2,002 -
Special Supplemental Food Program for
Women, Infants, and Children 756,425 -
IV-E Adoption Subsidy 162,318 42,832
IV-E Foster Care 63,796 17,422
Special Assistance for Adults - 200,871
State Foster Home - 1,395
CWS Adoption Subsidy - 16,742
SFHF Maximization - 2,516
Independent Living Grant 4,805 -
Totals 26,120,840 $ 14,435,037 $
8. Change in Accounting Principles
The County implemented Governmental Accounting Standards Board (GABS) Statement 63,
Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net
Position, and Statement 65, Items Previously Reported as Assets and Liabilities, in the fiscal year
ending June 30, 2013. In accordance with GASB Statement 63, the Statement of Net Assets has
been replaced with the Statement of Net Position. Items on the Statement of Net Position are now
classified into Assets, Deferred Outflows of Resources, Liabilities, Deferred Inflows of Resources,
and Net Position. Additionally, GASB Statement 65 requires that deferred costs from the refunding
of debt, which were previously deferred and amortized, be presented as deferred outflows of
resources. Bond issuance costs, which were previously deferred and amortized, must be included in
current expenditures.
65
REQUIRED SUPPLEMENTAL FINANCIAL DATA
This section contains additional information required by generally accepted accounting
principles.
Schedule of Funding Progress for the Law Enforcement Officers Special Separation
Allowance.
Notes to the Required Schedules for the Law Enforcement Officers Special Separation
Allowance.
Schedule of Funding Progress for Other Post-Employment Benefits Retiree Health
Plan.
Notes to the Required Schedules for Other Post-Employment Benefits Retiree Health
Plan.

Schedule A-1
LAW ENFORCEMENT OFFICERS' SPECIAL SEPARATION ALLOWANCE
REQUIRED SUPPLEMENTARY INFORMATION
Actuarial Accrued
Actuarial Liability (AAL) UAAL as a
Actuarial Value of Projected Unit Unfunded Funded Covered % of Covered
Valuation Assets Credit AAL (UAAL) Ratio Payroll Payroll
Date (A) (B) (B-A) (A/B) (C) ((B-A)/C)
12/31/2010 - $ 371,101 $ 371,101 $ 0.00% 1,827,178 $ 20.31%
12/31/2011 - 451,996 451,996 0.00% 1,942,902 23.26%
12/31/2012 - 487,063 487,063 0.00% 2,077,367 23.45%
Annual
Fiscal Year Required Percentage
Ended Contribution of ARC
June 30 (ARC) Contributed
2008 32,759 55.37%
2009 38,164 58.32%
2010 43,929 23.91%
2011 61,274 4.76%
2012 56,353 0.00%
2013 65,185 7.10%
Notes to the Required Schedules:
The information presented in the required supplementary schedules was determined as part of the actuarial valuations
at the dates indicated. Additional information as of the latest actuarial valuation follows:
Valuation date December 31, 2011
Actuarial cost method Projected unit credit
Amortization method Level percent of pay closed
Remaining amortization period 19 years
Asset valuation method Market value
Actuarial assumptions:
Investment rate of return* 5.00%
Projected salary increases 4.25% - 7.85%
Cost of living adjustments N/A
* Includes inflation at 3.00%
Schedule of Employer Contributions
Schedule of Funding Progress
66
Schedule A-2
OTHER POST-EMPLOYMENT BENEFITS -
RETIREE HEALTH PLAN
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF FUNDING PROGRESS AND EMPLOYER CONTRIBUTIONS
Actuarial Accrued
Actuarial Liability (AAL) UAAL as a
Actuarial Value of Projected Unit Unfunded Funded Covered % of Covered
Valuation Assets Credit AAL (UAAL) Ratio Payroll Payroll
Date (A) (B) (B-A) (A/B) (C) ((B-A)/C)
12/31/2006 - $ 13,451,434 $ 13,451,434 $ 0.00% 12,054,939 $ 111.6%
12/31/2009 - 19,995,127 19,995,127 0.00% 13,928,924 143.6%
12/31/2011 - 24,138,030 24,138,030 0.00% 13,228,526 182.5%
Annual
Fiscal Year Required Percentage
Ended Contribution of ARC
June 30 (ARC) Contributed
2011 1,959,710 $ 9.8%
2012 2,252,831 5.6%
2013 2,252,831 13.4%
Notes to the Required Schedules:
The information presented in the required supplementary schedules was determined as part of the actuarial valuations
at the dates indicated. Additional information as of the latest actuarial valuation follows:
Valuation date December 31, 2011
Actuarial cost method Projected unit credit
Amortization method Level percent of pay, open
Remaining amortization period 30 years
Asset valuation method Market value of assets
Actuarial assumptions:
Investment rate of return* 4.00%
Medical cost trend rate:
Pre-Medicare trend rate 9.50% - 5.00%
Post-Medicare trend rate 7.00% - 5.00%
Year of ultimate trend rate 2018
* Includes inflation at 3.00%
Schedule of Funding Progress
Schedule of Employer Contributions
67
SUPPLEMENTARY INFORMATION
COMBINING AND INDIVIDUAL
FUND FINANCIAL STATEMENTS AND SCHEDULES

THE GENERAL FUND
The General Fund accounts for resources traditionally associated with government that are
not required legally or by sound financial management to be accounted for in other funds.

Schedule B-1
Page 1 of 13
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCE - BUDGET AND ACTUAL
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 30, 2012
Variance
Budget Actual Over/Under 2012
Revenues:
Ad valorem taxes:
Taxes - current 25,332,740 $ 25,119,577 $ (213,163) $ 25,018,623 $
Taxes - prior 580,000 841,068 261,068 718,560
Interest and advertising 159,000 189,141 30,141 187,743
Total 26,071,740 26,149,786 78,046 25,924,926
Local option sales taxes:
Article 39 one percent 3,814,975 3,981,197 166,222 3,912,639
Article 40 one-half of one percent 1,257,052 1,317,513 60,461 1,285,977
Article 42 one-half of one percent 867,688 924,519 56,831 890,396
Article 44 one-half of one percent - 20,654 20,654 6,597
Total 5,939,715 6,243,883 304,168 6,095,609
Unrestricted intergovernmental revenues:
Payment in lieu of taxes 171,000 339,575 168,575 342,854
Gross receipts tax 15,000 17,743 2,743 16,488
Total 186,000 357,318 171,318 359,342
Restricted intergovernmental revenues:
Federal and State grants 6,435,991 5,992,281 (443,710) 5,552,735
Local grants 75,222 56,930 (18,292) -
ABC revenues 11,000 13,211 2,211 11,602
Facility fees/CSC 54,344 71,980 17,636 70,449
Federal forfeiture and controlled substance 19,722 25,832 6,110 14,962
Local health and social services 2,243,912 2,025,039 (218,873) 1,995,425
Total 8,840,191 8,185,273 (654,918) 7,645,173
Permits and fees:
Inspection fees 293,895 291,622 (2,273) 383,599
Register of Deeds 440,000 480,459 40,459 457,684
Occupancy tax 584,960 502,796 (82,164) 476,355
BOE fees - 50 50 20
Civil license fees 3,900 3,565 (335) 4,091
Addressing fees 75,000 74,402 (598) 74,743
Concealed handgun permits 42,000 56,680 14,680 36,315
Total 1,439,755 1,409,574 (30,181) 1,432,807
2013
68
Schedule B-1
Page 2 of 13
GENERAL FUND
Variance
2013
Sales and services:
Rents, concessions, and fees 182,487 206,609 24,122 194,454
Ambulance fees 1,050,000 1,150,039 100,039 1,447,529
Other public safety fees 226,466 222,294 (4,172) 243,500
Cable TV franchise fees 95,000 92,557 (2,443) 93,896
Health fees 719,466 746,615 27,149 697,003
Aging program income 18,000 18,396 396 21,026
Total 2,291,419 2,436,510 145,091 2,697,408
Investment earnings 48,000 57,117 9,117 65,589
Miscellaneous:
Other 143,388 173,366 29,978 43,027
Total revenues 44,960,208 45,012,827 52,619 44,263,881
Expenditures:
General government:
Governing body:
Salaries and employee benefits 103,302 103,361 95,647
Operating expenditures 100,600 93,063 96,437
Total 203,902 196,424 7,478 192,084
Administration:
Total 449,285 420,507 28,778 423,666
Finance:
Capital outlay - - 14,041
Total 510,515 474,718 35,797 540,343
Tax office:
Total 553,606 548,094 5,512 514,903
Legal:
Contracted services 100,000 90,109 91,622
Operating expenditures 2,500 - -
Total 102,500 90,109 12,391 91,622
69
Schedule B-1
Page 3 of 13
GENERAL FUND
Variance
2013
Mapping:
Total 168,315 160,799 7,516 165,738
Tax assessment:
Total 360,489 345,951 14,538 349,573
Board of elections:
Total 255,075 241,292 13,783 187,707
Register of deeds:
Total 280,994 271,702 9,292 266,178
Information technology:
Capital outlay 80,259 70,462 -
Total 890,574 819,559 71,015 671,285
Garage:
Total 293,474 280,156 13,318 283,639
Buildings and grounds:
Salaries and employee benefits 1,098,807 1,088,844 1,090,452
Total 1,899,525 1,850,265 49,260 1,854,710
Human resources:
Total 142,609 138,680 3,929 135,537
70
Schedule B-1
Page 4 of 13
GENERAL FUND
Variance
2013
Non-departmental :
Capital outlay 592,000 593,797 312,201
Total 994,653 934,953 59,700 618,625
Total general government 7,105,516 6,773,209 332,307 6,295,610
Public safety:
Sheriff:
Capital outlay 211,820 211,773 91,670
Total 4,068,064 3,986,663 81,401 3,700,874
Federal/State forfeitures:
Total 45,544 42,962 2,582 18,722
Juvenile Crime Prevention Council Grants 113,163 113,166 (3) 136,609
Criminal justice:
Salaries and employee benefits - - 27,202
Operating expenditures - - 5,356
Total - - - 32,558
!"#$%&"%'( *+,-./0 1/2$30 4%",%/56
Salaries and employee benefits 62,155 30,302 -
Operating expenditures 24,060 13,859 -
Total 121,215 75,142 46,073 -
Jail/Law Enforcement Center:
Capital outlay 44,100 23,484 37,727
Total 2,037,909 1,988,416 49,493 1,632,102
Hurricane recovery programs:
SARF Homeowners Assistance 10,250 10,241 9 78,973
71
Schedule B-1
Page 5 of 13
GENERAL FUND
Variance
2013
Courthouse security:
Total 164,197 158,538 5,659 142,244
Emergency medical service:
Total 3,159,017 3,129,458 29,559 2,407,110
Emergency management:
Capital outlay 130,575 130,474 18,403
Total 1,204,283 1,147,213 57,070 998,503
Inspections:
Total 535,500 511,767 23,733 497,607
Emergency 911:
Total 136,522 135,537 985 121,053
Animal control:
Total 252,743 248,342 4,401 243,343
Forest service:
Operating expenditures 74,115 62,788 11,327 59,972
Total public safety 11,922,522 11,610,233 312,289 10,069,670
Transit services:
Capital outlay 124,482 65,375 119,099
Total 778,896 707,506 71,390 714,920
Contribution to Macon County Airport 41,388 41,388 - 40,000
Total transit services 820,284 748,894 71,390 754,920
72
Schedule B-1
Page 6 of 13
GENERAL FUND
Variance
2013
Economic and physical development:
Economic development:
Total 269,410 245,593 23,817 83,414
Occupancy tax:
Cooperative extension:
Total 208,515 174,929 33,586 192,447
Soil conservation:
Total 161,116 150,155 10,961 127,088
Special appropriations:
Angel Medical Center Ladies Night Out - - 6,137
Cowee School 26,597 3,211 -
Total 26,597 3,211 23,386 6,137
Total economic and physical development 1,211,323 1,033,663 177,660 844,813
Human services:
Health:
Administration:
Total 432,788 359,801 72,987 366,535
Management support:
Total 371,370 360,856 10,514 361,029
73
Schedule B-1
Page 7 of 13
GENERAL FUND
Variance
2013
School health nurse:
Total 329,728 314,656 15,072 323,491
NC Tobacco Settlement Funds:
Operating expenditures - - 21,212
Total - - - 51,479
Women, infants, and children
Total 201,410 168,239 33,171 165,533
Maternal and childcare:
Total 118,643 96,977 21,666 103,358
Child health:
Operating expenditures 2,177 771 2,981
Total 50,313 31,415 18,898 21,820
Family planning:
Total 135,202 102,392 32,810 144,257
Dental health program:
Total 386,829 382,547 4,282 382,579
74
Schedule B-1
Page 8 of 13
GENERAL FUND
Variance
2013
Adult dental health:
Total 596,318 580,129 16,189 273,863
Adult health:
Total 69,178 51,749 17,429 25,552
Wisewomen:
Operating expenditures 1,965 480 -
Total 4,654 2,490 2,164 -
Breast and cervical cancer:
Total 82,445 70,987 11,458 99,402
Laboratory services:
Total 212,020 186,727 25,293 191,821
Communicable disease:
Total 46,683 45,334 1,349 39,325
On-site wastewater:
Total 268,147 260,983 7,164 262,681
75
Schedule B-1
Page 9 of 13
GENERAL FUND
Variance
2013
Private drinking water wells:
Total 235,911 232,531 3,380 219,423
Food and lodging:
Total 214,704 211,755 2,949 214,177
Health promotion:
Total 292,422 241,814 50,608 212,491
General nursing:
Total 279,151 273,137 6,014 253,333
Child service coordination:
Total 70,592 67,823 2,769 78,761
Smart start:
Operating expenditures 695 522 1,622
Total 47,571 38,715 8,856 38,364
TRU sustainability project:
Operating expenditures - - - 12,464
NC Community Transformation Grant:
76
Schedule B-1
Page 10 of 13
GENERAL FUND
Variance
2013
OB Care Management Program:
Operating expenditures 2,240 484 286
Total 62,954 32,967 29,987 82,254
Breastfeeding peer counselor program:
Operating expenditures 1,728 1,679 -
Total 9,084 8,219 865 -
Total health 5,472,574 4,878,574 594,000 3,951,722
Social services:
Administration:
Total 798,195 717,082 81,113 632,275
Social work services/special programs:
Operating expenditures 1,214,727 876,958 866,537
Total 1,739,848 1,402,481 337,367 1,401,895
Child daycare:
Salaries and employee benefits 38,939 39,762 (823) 38,955
Child support:
Total 204,900 168,122 36,778 166,342
Medicaid:
County participation only 1,653,301 1,422,321 230,980 1,399,945
77
Schedule B-1
Page 11 of 13
GENERAL FUND
Variance
2013
Workfirst:
Total 164,088 164,084 4 125,174
CAP-DA:
Salaries and employee benefits 104,879 106,945 (2,066) 104,302
DSS AMC outpost worker:
Salaries and employee benefits 41,257 36,111 5,146 39,880
Program integrity:
Salaries and employee benefits 2,032 - 2,032 -
Medicaid/FS administration:
Salaries and employee benefits 850,816 841,216 9,600 801,066
Total social services 5,598,255 4,898,124 700,131 4,709,834
Department on aging:
Administration:
Total 304,836 272,799 32,037 263,727
Home delivered meals:
Total 150,997 139,812 11,185 121,291
Congregate meals:
Total 96,655 86,100 10,555 72,631
Adult daycare:
Total 193,486 169,942 23,544 181,105
Total department on aging 745,974 668,653 77,321 638,754
Miscellaneous human services:
Veterans service:
Total 90,200 84,159 6,041 85,753
78
Schedule B-1
Page 12 of 13
GENERAL FUND
Variance
2013
Contributions to organizations:
Smoky Mountain Mental Health 106,623 106,623 106,623
Macon County Citizens for Handicapped 62,370 62,370 62,370
Macon Program for Progress 6,870 6,870 6,599
Total 175,863 175,863 - 175,592
Special appropriations:
Highlands Community Development 7,882 7,882 6,901
Kids Place 10,000 10,000 10,000
State of Franklin 15,000 15,000 15,000
REACH 10,000 10,000 10,000
Mountain Mediation Center 4,024 4,024 4,336
Webster Enterprises - - 10,000
Other special appropriations 52,136 34,394 31,843
Total 99,042 81,300 17,742 88,080
Total miscellaneous human services 365,105 341,322 23,783 349,425
Total human services 12,181,908 10,786,673 1,395,235 9,649,735
Cultural and recreational:
Capital outlay 662,468 662,398 24,886
Total 1,753,467 1,735,859 17,608 1,046,216
Library and cultural:
Macon County Library 951,390 951,390 951,390
Macon County Historical Society 23,541 23,541 23,469
Total 974,931 974,931 - 974,859
Total cultural and recreational 2,728,398 2,710,790 17,608 2,021,075
Education:
Public schools - current expenditures 7,417,068 7,410,356 7,252,298
Public schools - capital outlay 271,647 265,898 227,120
Timber sales pass-through 187,500 187,522 178,286
Southwestern Community College 431,063 431,063 426,753
Total education 8,307,278 8,294,839 12,439 8,084,457
Revenues over (under) expenditures 682,979 3,054,526 2,371,547 6,543,601
79
Schedule B-1
Page 13 of 13
GENERAL FUND
Variance
2013
Other financing sources (uses):
Transfers in:
From Emergency Telephone System Fund - - - 80,480
From Capital Reserve Fund 99,712 99,712 - -
From Clean Water Management Trust Fund - - - 32,594
From SCC Campus/Library Projects Fund - - - 238,051
Total 99,712 99,712 - 351,125
Transfers out:
To Airport Fund (29,753) (29,753) - (275,082)
To E911 Fund - (19,370) - -
To Community Development Block Grant Fund (60,000) (27,614) 32,386 (71,000)
To Debt Service (4,204,288) (4,204,288) - (4,136,101)
Total (4,294,041) (4,281,025) 13,016 (4,732,183)
Long-term debt issued 374,000 374,000 - -
Appropriated fund balance 3,137,350 - (3,137,350) -
Total other financing sources (uses) (682,979) (3,807,313) (3,124,334) (4,381,058)
Net change in fund balance - $ (752,787) (752,787) $ 2,162,543
Fund Balance:
End of year - June 30 20,613,771 $ 21,366,558 $
80

NONMAJOR GOVERNMENTAL FUNDS

Schedule C-1
COMBINING BALANCE SHEET
JUNE 30, 2013
Nonmajor Nonmajor
Special Capital
Revenue Project
Funds Funds Total
Assets:
Cash and investments 215,690 $ 1,340,093 $ 1,555,783 $
Taxes receivable, net 149,656 - 149,656
Accounts receivable, net 147,822 1,612,427 1,760,249
Due from other governmental agencies 52,668 392,531 445,199
Total assets 565,836 $ 3,345,051 $ 3,910,887 $
and Fund Balances:
Liabilities:
Accounts payable and accrued liabilities 75,793 $ 341,657 $ 417,450 $
Due to other funds 61,001 1,165,659 1,226,660
Total liabilities 136,794 1,507,316 1,644,110
Unavailable revenue - property taxes 149,656 - 149,656
Fund Balances:
Restricted:
Stabilization by State statute 200,490 2,004,958 2,205,448
Restricted, all others 195,946 - 195,946
Committed - 1,337,859 1,337,859
Unassigned (117,050) (1,505,082) (1,622,132)
Total fund balances 279,386 1,837,735 2,117,121
Total liabilities, deferred inflows of resources,
and fund balances
565,836 $ 3,345,051 $ 3,910,887 $
81
Schedule C-2
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
Nonmajor Nonmajor
Special Capital
Revenue Project
Funds Funds Total
Revenues:
Ad valorem taxes 2,738,405 $ - $ 2,738,405 $
Local option sales taxes - 1,549,344 1,549,344
Restricted intergovernmental revenues 793,983 3,314,169 4,108,152
Miscellaneous revenues - 3,940 3,940
Interest earned on investments 248 1,598 1,846
Total revenues 3,532,636 4,869,051 8,401,687
Expenditures:
Current:
General government - 226,949 226,949
Public safety 3,063,400 - 3,063,400
Economic and physical development 544,091 3,511,240 4,055,331
Total expenditures 3,607,491 3,738,189 7,345,680
Revenues over (under) expenditures (74,855) 1,130,862 1,056,007
Transfers in 46,984 29,753 76,737
Transfers out - (1,706,497) (1,706,497)
Total other financing sources (uses) 46,984 (1,676,744) (1,629,760)
Net change in fund balances (27,871) (545,882) (573,753)
Fund Balances:
Beginning of year - July 1 307,257 2,383,617 2,690,874
End of year - June 30 279,386 $ 1,837,735 $ 2,117,121 $
82
SPECIAL REVENUE FUNDS
Special revenue funds account for the proceeds of special revenue sources that are legally
restricted to expenditure for specific purposes.
Individual Fund Descriptions:
Emergency Telephone System Fund accounts for the accumulation of funds used to
operate the 911 emergency service operations.
Fire Districts Fund accounts for the ad valorem tax levies of the eleven fire districts in
Macon County.
Housing Grants Fund accounts for Federal grants received and expended for
community development.

Schedule D-1
NONMAJOR SPECIAL REVENUE FUNDS
JUNE 30, 2013
Emergency
Telephone Fire Housing
System Districts Grants
Fund Fund Fund Total
Assets:
Cash and cash equivalents 203,591 $ 12,099 $ - $ 215,690 $
Taxes receivable, net - 149,656 - 149,656
Accounts receivable, net - - 147,822 147,822
Due from government agencies 52,668 - - 52,668
Total assets 256,259 $ 161,755 $ 147,822 $ 565,836 $
and Fund Balances:
Liabilities:
Accounts payable and accrued liabilities 7,645 $ 12,099 $ 56,049 $ 75,793 $
Due to other funds - - 61,001 61,001
Total liabilities 7,645 12,099 117,050 136,794
Unavailable revenue - property taxes - 149,656 - 149,656
Fund Balances:
Restricted:
Stabilization by State statute 52,668 - 147,822 200,490
Restricted, all others 195,946 - - 195,946
Unassigned - - (117,050) (117,050)
Total fund balances 248,614 - 30,772 279,386
Total liabilities, deferred inflows of
resources, and fund balances 256,259 $ 161,755 $ 147,822 $ 565,836 $
83
Schedule D-2
NONMAJOR SPECIAL REVENUE FUNDS
Emergency
Telephone Fire Housing
System Districts Grants
Fund Fund Fund Total
Revenues:
Ad valorem taxes - $ 2,738,405 $ - $ 2,738,405 $
Restricted intergovernmental revenues 316,009 - 477,974 793,983
Investment earnings 248 - - 248
Total revenues 316,257 2,738,405 477,974 3,532,636
Expenditures:
Public safety 324,995 2,738,405 - 3,063,400
Economic and physical development - - 544,091 544,091
Total expenditures 324,995 2,738,405 544,091 3,607,491
Revenues over (under) expenditures (8,738) - (66,117) (74,855)
Transfers in:
From General Fund 19,370 - 27,614 46,984
Net change in fund balances 10,632 - (38,503) (27,871)
Fund Balances:
Beginning of year - July 1 237,982 - 69,275 307,257
End of year - June 30 248,614 $ - $ 30,772 $ 279,386 $
84
Schedule D-3
EMERGENCY TELEPHONE SYSTEM FUND
2012
Variance
Budget Actual Over/Under Actual
Revenues:
Restricted intergovernmental revenues 316,009 $ 316,009 $ - $ 361,082 $
Investment earnings - 248 248 299
Total revenues 316,009 316,257 248 361,381
Expenditures:
Wireless 911:
Implemental functions 50,000 74,402 (24,402) 74,743
Telephone 120,000 113,894 6,106 88,834
Furniture 50,000 48,211 1,789 33,445
Software and software maintenance 56,000 55,260 740 183,705
Hardware and hardware maintenance 34,388 31,233 3,155 18,478
Training 7,000 1,995 5,005 -
Capital outlay 48,621 - 48,621 299,343
Total wireless 911 366,009 324,995 41,014 698,548
Public safety needs:
S.L. 2010-158 expenditures (50%) - - - 229,658
Total expenditures 366,009 324,995 41,014 928,206
Revenues over (under) expenditures (50,000) (8,738) 41,262 (566,825)
Appropriated fund balance 50,000 - (50,000) -
Transfers in - 19,370 19,370 257,242
Transfers out - - - (80,480)
Total other financing sources (uses) 50,000 19,370 (30,630) 176,762
Net change in fund balance - $ 10,632 10,632 $ (390,063)
Fund Balance:
Beginning of year - July 1 237,982 628,045
End of year - June 30 248,614 $ 237,982 $
2013
85
Schedule D-4
FIRE DISTRICTS FUND
2012
Variance
Revenues:
Ad valorem taxes - fire:
Current year 2,612,385 $ 2,608,569 $ (3,816) $ 2,597,456 $
Prior years 134,389 129,836 (4,553) 111,774
Total revenues 2,746,774 2,738,405 (8,369) 2,709,230
Expenditures:
Public safety:
Franklin Fire District 497,162 492,611
Clark's Chapel Fire District 205,959 204,571
Otto Fire District 252,446 255,174
Cullasaja Fire District 245,342 236,239
West Macon Fire District 290,043 287,312
Scaly Mountain Fire District 115,056 115,864
Burningtown/Iotla Fire District 163,906 156,043
Cowee Fire District 282,336 274,142
Highlands Fire District 359,803 358,470
Mountain Valley Fire District 115,782 122,550
Nantahala Fire District 210,570 206,254
Total expenditures 2,746,774 2,738,405 8,369 2,709,230
Net change in fund balance - $ - - $ -
Fund Balance:
Beginning of year - July 1 - -
End of year - June 30 - $ - $
2013
86
Schedule D-5
HOUSING GRANTS FUND
SCHEDULE OF REVENUES AND EXPENDITURES -
BUDGET AND ACTUAL
FROM INCEPTION AND FOR THE YEAR ENDED JUNE 30, 2013
Project Prior Current Total
Authorization Years Year to Date
Revenues:
Community Development Block Grant #07-C-1662 400,000 $ 353,250 $ - $ 353,250 $
Weatherization # 1161 47,867 47,122 - 47,122
Urgent repair 1014 75,000 75,000 - 75,000
ARRA weatherization 18WA 668,109 424,382 150,279 574,661
Community Development Block Grant #10-C-2124 400,000 132,953 66,277 199,230
Weatherization # 1261 235,990 181,887 - 181,887
SFR 11 160,000 3,703 100,738 104,441
Urgent repair 1115 75,000 75,000 - 75,000
Urgent repair URP-13 75,000 - 37,500 37,500
Weatherization # 1361 129,107 - 123,180 123,180
Miscellaneous revenues 11,222 11,469 - 11,469
Total revenues 2,277,295 1,304,766 477,974 1,782,740
Expenditures:
Economic and physical development:
Administrative - County 438,509 378,314 57,766 436,080
Community Development Block Grant:
Grant #07-C-1662 administrative 40,000 40,965 - 40,965
Grant #07-C-1662 rehabilitation 360,000 313,058 - 313,058
Weatherization # 1161 47,867 47,124 - 47,124
Urgent repair 1014 75,000 74,998 - 74,998
ARRA weatherization 18WA 668,109 425,234 150,801 576,035
Community development block:
Grant #10-C-2124 administrative 40,000 21,253 6,377 27,630
Grant #10-C-2124 rehabilitation 360,000 111,700 59,901 171,601
SFR-11 grant 160,000 3,704 100,739 104,443
Weatherization # 1261 235,990 181,802 - 181,802
Urgent Repair Grant 1115 75,000 42,009 32,934 74,943
Weatherization # 1361 129,107 - 123,450 123,450
Urgent Repair Grant - URP-13 75,000 - 12,123 12,123
Revenues over (under) expenditures (427,287) (335,395) (66,117) (401,512)
Transfers in:
From General Fund 427,287 404,670 27,614 432,284
Net change in fund balance - $ 69,275 $ (38,503) $ 30,772 $
Actual
87

CAPITAL PROJECT FUNDS
Capital project funds are used to account for the acquisition or construction of major capital
facilities other than those financed by the proprietary funds and trust funds.
Major Funds:
Consolidated Capital Projects Fund accounts for projects related to education facilities.
Nonmajor Funds:
Airport Improvements Fund accounts for the construction costs of various airport
improvements.
County Buildings Project accounts for the development and construction costs of County
buildings.
Riverbend Estates Waterline Project Fund accounts for the costs and construction of
sewer lines in Riverbend Estates.
Little Tennessee River/Cartoogechaye Creek Sewer Trunk Project Fund accounts for
the construction costs of replacing sewer lines along the Little Tennessee River and the
Cartoogechaye River.
Schools Capital Fund accounts for the accumulation of dedicated local option sales tax
used for school debt service and future school capital projects.
Capital Reserve Fund accounts for the accumulation of undedicated resources to fund
future projects of the County.

Schedule E-1
CONSOLIDATED CAPITAL PROJECTS - MAJOR
BUDGET AND ACTUAL
Revenues:
Investment earnings 85,461 $ 192,712 $ 1,593 $ 194,305 $
NC Department of Transportation - 50,000 - 50,000
Contribution from Board of Education 15,000 - 15,000 15,000
Miscellaneous revenues 7,312 341,088 133,505 474,593
Total revenues 107,773 583,800 150,098 733,898
Expenditures:
Iotla Valley K-5 14,683,291 12,817,083 1,700,831 14,517,914
Issuance costs 20,046 20,046 - 20,046
East Franklin Elementary School/QZAB 1,995,000 1,995,000 - 1,995,000
Southwestern Community Early College 878,899 878,899 - 878,899
Nantahala renovations/QZAB 1,800,000 1,749,731 54,921 1,804,652
School technology expenses 1,500,000 - 774,387 774,387
Highlands QZAB 1,588,340 - 873,132 873,132
Revenues over (under) expenditures (22,357,803) (16,876,959) (3,253,173) (20,130,132)
Debt issued 20,039,987 17,039,987 3,000,000 20,039,987
Transfer from the General Fund 2,317,816 2,423,335 - 2,423,335
Total other financing sources (uses) 22,357,803 19,463,322 3,000,000 22,463,322
Net change in fund balance - $ 2,586,363 $ (253,173) $ 2,333,190 $
Actual
88
NONMAJOR CAPITAL PROJECTS FUND
JUNE 30, 2013
Riverbend
County Estates
Airport Buildings Waterline
Improvements Project Project
Assets:
Cash and cash equivalents - $ 208,233 $ - $
Accounts receivable, net 722,997 - 366,102
Due from governmental agencies - - -
Total assets 722,997 $ 208,233 $ 366,102 $
Liabilities and Fund Balances:
Liabilities:
Accounts payable and accrued liabilities 116,842 $ 2,234 $ 205,856 $
Due to other funds 495,954 - 132,575
Total liabilities 612,796 2,234 338,431
Fund Balances:
Restricted:
Stabilization by State statute 722,997 - 366,102
Committed - 205,999 -
Unassigned (612,796) - (338,431)
Total fund balances 110,201 205,999 27,671
Total liabilities and fund balances 722,997 $ 208,233 $ 366,102 $
89
Schedule E-2
Little
Tennessee River/
Cartoogechaye Schools Capital
Creek Sewer Capital Reserve
Trunk Project Fund Fund Total
- $ - $ 1,131,860 $ 1,340,093 $
523,328 - - 1,612,427
- 392,531 - 392,531
523,328 $ 392,531 $ 1,131,860 $ 3,345,051 $
16,725 $ - $ - $ 341,657 $
193,296 343,834 - 1,165,659
210,021 343,834 - 1,507,316
523,328 392,531 - 2,004,958
- - 1,131,860 1,337,859
(210,021) (343,834) - (1,505,082)
313,307 48,697 1,131,860 1,837,735
523,328 $ 392,531 $ 1,131,860 $ 3,345,051 $
90
NONMAJOR CAPITAL PROJECTS FUND
Riverbend
County Estates
Airport Buildings Waterline
Improvements Project Project
Revenues:
Restricted intergovernmental revenues 2,183,210 $ - $ 724,721 $
Local option sales tax - - -
Miscellaneous revenues 172 - 55
Investment earnings - - -
Total revenues 2,183,382 - 724,776
Expenditures:
General government - 226,949 -
Economic and physical development 2,473,990 - 723,178
Total expenditures 2,473,990 226,949 723,178
Revenues over (under) expenditures (290,608) (226,949) 1,598
Transfers in:
From Emergency Telephone System Fund 29,753 - -
To debt service - - -
To General Fund - - -
Total other financing sources (uses) 29,753 - -
Net change in fund balances (260,855) (226,949) 1,598
Fund Balances:
Beginning of year - July 1 371,056 432,948 26,073
End of year - June 30 110,201 $ 205,999 $ 27,671 $
91
Schedule E-3
Little
Tennessee River/
Cartoogechaye Schools Capital
Creek Sewer Capital Reserve
Trunk Project Fund Fund Total
406,238 $ - $ - $ 3,314,169 $
- 1,549,344 - 1,549,344
3,713 - - 3,940
- 1,020 578 1,598
409,951 1,550,364 578 4,869,051
- - - 226,949
314,072 - - 3,511,240
314,072 - - 3,738,189
95,879 1,550,364 578 1,130,862
- - - 29,753
- (1,606,785) - (1,606,785)
- - (99,712) (99,712)
- (1,606,785) (99,712) (1,676,744)
95,879 (56,421) (99,134) (545,882)
217,428 105,118 1,230,994 2,383,617
313,307 $ 48,697 $ 1,131,860 $ 1,837,735 $
92
Schedule E-4
AIRPORT IMPROVEMENTS FUND
BUDGET AND ACTUAL
Revenues:
State aid to airports 7,225,236 $ 3,609,704 $ 2,183,210 $ 5,792,914 $
Miscellaneous revenues - 15,367 172 15,539
Total revenues 7,225,236 3,625,071 2,183,382 5,808,453
Expenditures:
Capital outlay:
Runway extension phase II - site improvements 3,147,244 2,558,565 57,068 2,615,633
Phase I EA - runway extension 1,000,000 369,694 - 369,694
2004 Vision 100 166,667 152,571 - 152,571
Runway improvements 792,000 635,301 - 635,301
2008 Vision 100 166,667 - - -
SWPPP/SPCC & AWOS 131,602 25,982 5,793 31,775
Runway rehabilitation 222,223 - 176,666 176,666
Apron improvements 2,401,639 160,630 2,234,463 2,395,093
Revenues over (under) expenditures (802,806) (277,672) (290,608) (568,280)
Transfers in from General Fund 741,639 648,728 29,753 678,481
Appropriated fund balance 61,167 - - -
Total other financing sources (uses) 802,806 648,728 29,753 678,481
Actual
93
Schedule E-5
COUNTY BUILDING PROJECTS
BUDGET AND ACTUAL
Revenues:
Miscellaneous - $ 8,243 $ - $ 8,243 $
Expenditures:
General government:
Animal shelter 500,000 498,905 - 498,905
Old library renovations 300,000 299,928 - 299,928
Renovations - Barrett Building 458,303 184,923 104,456 289,379
Renovations - Old Senior Services Building 118,550 118,531 - 118,531
Renovations - Patton Avenue Building 200,000 50,781 122,493 173,274
Garage construction 120,000 119,080 - 119,080
Revenues over (under) expenditures (1,696,853) (1,263,905) (226,949) (1,490,854)
Transfers in:
From General Fund 1,628,000 1,628,000 - 1,628,000
From Emergency Telephone System Fund 326,095 326,095 - 326,095
Transfers out:
To Emergency Telephone System Fund (257,242) (257,242) - (257,242)
Total other financing sources (uses) 1,696,853 1,696,853 - 1,696,853
Actual
94
Schedule E-6
RIVERBEND ESTATES WATERLINE PROJECT
BUDGET AND ACTUAL
Revenues:
DENR DWSRF Grant 2,618,518 $ 1,742,264 $ 724,721 $ 2,466,985 $
Miscellaneous revenue - 97,579 55 97,634
Total revenues 2,618,518 1,839,843 724,776 2,564,619
Expenditures:
Sewer project expense:
Administration 71,800 15,000 39,750 54,750
Engineering 250,000 211,500 3,500 215,000
Construction 1,700,000 1,587,270 679,928 2,267,198
Contingency 596,718 - - -
Net change in fund balance - $ 26,073 $ 1,598 $ 27,671 $
Actual
95
Schedule E-7
LITTLE TENNESSEE RIVER/CARTOOGECHAYE CREEK
SEWER TRUNK PROJECT
BUDGET AND ACTUAL
Revenues:
NC High Unit Cost Grant 3,000,000 $ 3,000,000 $ - $ 3,000,000 $
NC Rural Center Grant 750,000 14,928 406,238 421,166
Town of Franklin Contribution 16,970 16,970 - 16,970
Investment earnings - 87 - 87
Miscellaneous revenue - 87,521 3,713 91,234
Total revenues 3,766,970 3,119,506 409,951 3,529,457
Expenditures:
Sewer project expense:
Legal fees 28,888 15,241 8,488 23,729
Issuance cost 11,986 11,986 - 11,986
Engineering 742,305 725,729 25,328 751,057
Surveying - 6,445 - 6,445
General contract 4,754,119 4,493,873 280,256 4,774,129
Land 211,018 208,636 - 208,636
Contingency 102,760 - - -
Revenues over (under) expenditures (2,084,106) (2,342,404) 95,879 (2,246,525)
Debt issued 2,043,250 2,043,250 - 2,043,250
Transfer from General Fund 516,582 516,582 - 516,582
Transfer to General Fund (475,726) - - -
Total other financing sources (uses) 2,084,106 2,559,832 - 2,559,832
Net change in fund balance - $ 217,428 $ 95,879 $ 313,307 $
Actual
96
Schedule E-8
SCHOOLS CAPITAL FUND
2012
Variance
Revenues:
Interest - $ 1,020 $ 1,020 $ 522 $
Local option sales tax 1,610,555 1,549,344 (61,211) 1,514,031
Total revenues 1,610,555 1,550,364 (60,191) 1,514,553
Revenues over (under) expenditures 1,610,555 1,550,364 (60,191) 1,514,553
To Debt Service Fund (1,610,555) (1,606,785) 3,770 (1,439,927)
Net change in fund balance - $ (56,421) (56,421) $ 74,626
Fund Balance:
Beginning of year - July 1 105,118 30,492
End of year - June 30 48,697 $ 105,118 $
2013
97
Schedule E-9
CAPITAL RESERVE FUND
2012
Variance
Revenues:
Interest - $ 578 $ 578 $ 699 $
Transfers out:
To General Fund (99,712) (99,712) - -
Total other financing sources (uses) - (99,712) (99,712) -
Net change in fund balance - $ (99,134) (99,134) $ 699
Fund Balance:
End of year - June 30 1,131,860 $ 1,230,994 $
2013
98

ENTERPRISE FUND
The Enterprise Fund is used to account for solid waste collection and disposal operations in
Macon County that are financed through solid waste fees and operating transfers from the
General Fund.

Schedule F-1
Page 1 of 2
SOLID WASTE FUND
BUDGET AND ACTUAL (NON-GAAP)
2012
Variance
Revenues:
Operating revenues:
Landfill fees 1,850,000 $ 1,906,509 $ 1,826,775 $
Tipping fees 1,100,000 1,113,081 1,141,800
Recycling revenue 350,000 255,900 357,652
Other operating revenue 2,561 2,634 2,823
Scrap tire disposal fee 30,000 42,175 41,703
Solid waste disposal fees 3,000 4,459 11,544
Restricted intergovernmental revenue 73,500 43,596 52,149
Total operating revenues 3,409,061 3,368,354 (40,707) $ 3,434,446
Non-operating revenues:
Solid waste disposal tax 20,000 20,123 23,903
Investment earnings - 13,541 13,013
Total non-operating revenues 20,000 33,664 13,664 36,916
Total revenues 3,429,061 3,402,018 (27,043) 3,471,362
Expenditures:
Operating expenditures:
Salaries 926,959 887,734 899,760
Employee benefits 326,701 316,016 316,187
Operating expenditures 1,382,619 982,269 973,599
Interest and fees 6,074 4,356 21,747
Debt principal 284,200 200,000 500,000
Post-closure costs 470,502 31,009 36,068
Capital outlay 342,300 68,385 118,006
Solid waste disposal tax remittance 60,650 57,933 58,276
Total operating expenditures 3,800,005 2,547,702 2,923,643
Scale capital project expenditures:
Engineering fees 3,492 3,492 23,052
Capital improvements 63,902 63,901 127
Total scale capital project expenditures 67,394 67,393 23,179
Revenues over (under) expenditures (438,338) 786,923 1,225,261 524,540
2013
99
Schedule F-1
Page 2 of 2
SOLID WASTE FUND
BUDGET AND ACTUAL (NON-GAAP)
2012
Variance
2013
Revenues and other financing sources over
(under) expenditures and other financing uses - $ 786,923 $ 786,923 $ 524,540 $
Reconciliation from Budgetary Basis
(Modified Accrual) to Full Accrual:
Revenues and other financing sources over
(under) expenditures and other financing uses 786,923 $
Reconciling items:
Payment of debt principal 200,000
Capital outlay 135,778
(Increase) decrease in post-closure care costs (391,100)
(Increase) decrease in other post-employment benefits (113,690)
(Increase) decrease in accrued vacation pay (5,267)
Depreciation (303,676)
Change in net position - Exhibit H 308,968 $
100
INTERNAL SERVICE FUND
Internal service funds are used to account for the Countys activities which are similar to
those often found in the private sector. The measurement focus is on the flow of economic
resources.
Individual Fund Description:
Self-Insurance Fund accounts for the financing of health insurance coverage for all
County employees.

Schedule G-1
NONMAJOR SELF-INSURANCE FUND
JUNE 30, 2013 AND 2012
2013 2012
Assets:
Current assets:
Cash and cash equivalents 2,708,215 $ 3,984,551 $
Prepaids 30,798 -
Accounts receivable 6,600 -
Total assets 2,745,613 3,984,551
Liabilities:
Current liabilities:
Accounts payable and accrued liabilities 348,948 283,123
Net Position:
Unrestricted net position 2,396,665 $ 3,701,428 $
101
Schedule G-2
SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN
FUND NET POSITION - FINANCIAL PLAN AND ACTUAL
2012
Financial Variance
Plan Actual Over/Under Actual
Operating Revenues:
Charges for services:
Employee and employer contributions 3,197,000 $ 3,206,174 $ 9,174 $ 3,224,310 $
Operating Expenses:
Insurance premiums 546,117 546,329 (212) 445,172
Benefit payments 4,366,993 3,966,331 400,662 3,575,512
Total operating expenses 4,913,110 4,512,660 400,450 4,020,684
Operating income (loss) (1,716,110) (1,306,486) 409,624 (796,374)
Non-Operating Revenues:
Investment earnings 2,400 1,723 (677) 2,645
Appropriated fund balance 1,713,710 - (1,713,710) -
Change in net position - $ (1,304,763) (1,304,763) $ (793,729)
Net Position:
End of year - June 30 2,396,665 $ 3,701,428 $
2013
102
Schedule G-3
STATEMENT OF CASH FLOWS
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED JUNE 30, 2012
2013 2012
Cash Flows from Operating Activities:
Cash received from customers 3,199,574 $ 3,224,310 $
Cash paid for goods and services (4,477,633) (4,123,501)
Net cash provided (used) by operating activities (1,278,059) (899,191)
Cash Flows from Investing Activities:
Interest on investments 1,723 2,645
Net increase (decrease) in cash and cash equivalents (1,276,336) (896,546)
Cash and Cash Equivalents:
End of year - June 30 2,708,215 $ 3,984,551 $
Reconciliation of Operating Income (Loss) to
Net Cash Provided (Used) by Operating Activities:
Operating income (loss) (1,306,486) $ (796,374) $
Adjustments to reconcile operating income (loss) to
net cash provided (used) by operating activities:
Change in assets and liabilities:
(Increase) decrease in prepaids (30,798) -
(Increase) decrease in accounts receivable (6,600) -
Increase (decrease) in accounts payable and accrued liabilities 65,825 (102,817)
Net cash provided (used) by operating activities (1,278,059) $ (899,191) $
103

AGENCY FUNDS
Agency funds are used to account for assets held by the County as an agent for individuals,
private organizations, other governments, and/or other funds.
Social Services Fund and Inmate Trust Fund account for assets held by the County as
agent for individuals served by these departments.
Fines and Forfeitures Fund accounts for fines and forfeitures collected by the County that
are required to be remitted to the Macon County Board of Education.
Motor Vehicle Tax Fund accounts for the proceeds of the motor vehicle taxes that are
collected by the County on behalf of the municipalities within the County.
Deed of Trust Fund accounts for the $6.20 of each fee collected by the Register of Deeds
for registering or filing a deed of trust mortgage that the County is required to remit to the
State Treasurer on a monthly basis.
Western Carolina Industrial Partners Fund accounts for monies held by the County as
agent for advertising and promotions for Western North Carolina industries.
Hurricane Ivan Relief Fund accounts for assets held by the County as agent for
individuals who were affected by Hurricane Ivan.
3% Interest Payable to State Fund accounts for interest on delinquent motor vehicle
taxes that are required by law to be remitted to the State of North Carolina.
AGENCY FUNDS
JUNE 30, 2013
Social
Services Fines and Motor
Trust Inmate Trust Forfeitures Vehicle
Fund Fund Fund Tax Fund
Assets:
Cash and cash equivalents 27,206 $ 11,440 $ 7,313 $ 2,957 $
Accounts receivable 68 - 17,968 -
Total assets 27,274 $ 11,440 $ 25,281 $ 2,957 $
Liabilities:
Miscellaneous liabilities 27,274 $ 11,440 $ 7,313 $ - $
Intergovernmental payable - - 17,968 2,957
Total liabilities 27,274 $ 11,440 $ 25,281 $ 2,957 $
104
Schedule H-1
Western
Carolina Hurricane
Deed of Industrial Ivan 3% Interest
Trust Partners Relief Payable to
Fund Fund Fund State Total
949 $ 17,113 $ 39,454 $ 467 $ 106,899 $
- - - - 18,036
949 $ 17,113 $ 39,454 $ 467 $ 124,935 $
- $ 17,113 $ 39,454 $ - $ 102,594 $
949 - - 467 22,341
949 $ 17,113 $ 39,454 $ 467 $ 124,935 $
105
Schedule H-2
Page 1 of 2
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
Balance Balance
July 1, 2012 Additions Deductions June 30, 2013
Social Services Trust Fund:
Assets:
Accounts receivable - 68 - 68
Total assets 35,857 $ 185,900 $ 194,483 $ 27,274 $
Liabilities:
Miscellaneous liabilities 35,857 $ 188,224 $ 196,807 $ 27,274 $
Inmate Trust Fund:
Assets:
Liabilities:
Fines and Forfeitures Fund:
Assets:
Accounts receivable 15,817 17,968 15,817 17,968
Total assets 23,130 $ 200,287 $ 198,136 $ 25,281 $
Liabilities:
Miscellaneous liabilities 7,313 $ - $ - $ 7,313 $
Intergovernmental payable 15,817 184,470 182,319 17,968
Total liabilities 23,130 $ 184,470 $ 182,319 $ 25,281 $
Motor Vehicle Tax Fund:
Assets:
Cash and accounts receivable 9,316 $ 2,458,186 $ 2,464,545 $ 2,957 $
Liabilities:
Intergovernmental payable 9,316 $ 2,458,186 $ 2,464,545 $ 2,957 $
Deed of Trust Fund:
Assets:
Cash and cash equivalents 560 $ 11,092 $ 10,703 $ 949 $
Liabilities:
Intergovernmental payable 560 $ 11,092 $ 10,703 $ 949 $
106
Schedule H-2
Page 2 of 2
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
Balance Balance
July 1, 2012 Additions Deductions June 30, 2013
Western Carolina Industrial Partners Fund:
Assets:
Cash and cash equivalents 17,113 $ - $ - $ 17,113 $
Liabilities:
Hurricane Ivan Relief Fund:
Assets:
Cash and cash equivalents 39,454 $ - $ - $ 39,454 $
Liabilities:
3% Interest Payable to State:
Assets:
Cash and cash equivalents 464 $ 7,208 $ 7,205 $ 467 $
Liabilities:
Intergovernmental payable 464 $ 7,208 $ 7,205 $ 467 $
Totals - All Agency Funds:
Assets:
Cash and cash equivalents 117,783 $ 2,904,955 $ 2,915,839 $ 106,899 $
Accounts receivable 15,817 18,036 15,817 18,036
Total assets 133,600 $ 2,922,991 $ 2,931,656 $ 124,935 $
Liabilities:
Intergovernmental payable 26,157 2,660,956 2,664,772 22,341
Total liabilities 133,600 $ 2,859,771 $ 2,868,436 $ 124,935 $
107

DEBT SERVICE FUND
The Debt Service Fund is used to account for all expenditures for principal and interest for all
long-term debt payments. The other governmental fund types provide the resources to the
Debt Service Fund to make the payments through transfers.

Schedule I-1
SCHEDULE OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
DEBT SERVICE FUND
Variance from
Final Final Budget
Budget Actual Over/Under
Revenues:
NC Lottery funds 305,887 $ 304,646 $ (1,241) $
Federal subsidy rebate 662,681 634,339 (28,342)
Town of Franklin 47,682 47,682 -
Interest earned - 475 (475)
Total revenues 1,016,250 987,142 (30,058)
Expenditures:
Debt service:
Principal repayments 4,927,772 4,927,727 45
Interest 1,903,321 1,868,404 34,917
Total expenditures 6,831,093 6,796,131 34,962
Revenues over (under) expenditures (5,814,843) (5,808,989) 5,854
Transfers in 5,814,843 5,811,073 (3,770)
Net change in fund balance - $ 2,084 2,084 $
Fund Balance:
Beginning of year - July 1 1,020,295
End of year - June 30 1,022,379 $
108

ADDITIONAL FINANCIAL DATA
This section contains additional information on taxes receivable and the tax levy as of June
30, 2013.

Schedule J-1
SCHEDULE OF AD VALOREM TAXES RECEIVABLE - GENERAL FUND
JUNE 30, 2013
Uncollected Uncollected
Year Ended Balance Collections Balance
June 30 July 1, 2012 Additions and Credits June 30, 2013
2012-2013 - $ 26,030,079 $ 25,098,148 $ 931,931 $
2011-2012 939,580 - 552,871 386,709
2010-2011 369,708 - 147,140 222,568
2009-2010 198,882 - 63,294 135,588
2008-2009 122,284 - 34,441 87,843
2007-2008 80,659 - 19,040 61,619
2006-2007 65,614 - 9,745 55,869
2005-2006 57,945 - 10,488 47,457
2004-2005 46,261 - 5,628 40,633
2003-2004 40,169 - 3,313 36,856
2002-2003 19,739 - 19,739 -
Total 1,940,841 $ 26,030,079 $ 25,963,847 $ 2,007,073
Less allowance for uncollectible ad valorem taxes receivable (906,809)
Ad valorem taxes receivable - net 1,100,264 $
Reconciliation with Revenues:
Taxes ad valorem General Fund 26,149,786 $
Reconciling items:
Advertising (10,771)
Interest collected (178,370)
Refunds and other adjustments (14,728)
Amounts written off per statute of limitations 17,930
Total collections and credits 25,963,847 $
109
Schedule J-2
ANALYSIS OF CURRENT TAX LEVY - COUNTY-WIDE LEVY
Property
Excluding
Registered Registered
Property Amount Motor Motor
Valuation Rate of Levy Vehicles Vehicles
Original Levy:
Property taxed at current year's rate 8,925,570,609 $ 0.279 $ 24,902,342 $ 24,902,342 $ - $
Motor vehicles taxed at current year's rate 234,784,588 0.279 655,049 - 655,049
Motor vehicles taxed at prior year's rate 36,335,125 0.279 101,375 - 101,375
Total 9,196,690,322 25,658,766 24,902,342 756,424
Discoveries:
Current year taxes 27,741,577 0.279 77,399 77,399 -
Utilities 118,000,717 0.279 329,222 329,222 -
Less releases and adjustments (12,655,197) 0.279 (35,308) (13,615) (21,693)
Total property valuation 9,329,777,419 $
Net Levy 26,030,079 25,295,348 734,731
Uncollected taxes at June 30, 2013 (931,931) (811,784) (120,147)
!"##$%& ($)#*+ ,)-$+ !.//$0&$1 25,098,148 $ 24,483,564 $ 614,584 $
Current Levy Collection Percentage 96.42% 96.79% 83.65%
Secondary Market Disclosures:
Assessed valuation:
Assessment ratio 100.00%
Real property 8,940,656,989 $
Personal property 271,119,713
Public service companies 118,000,717
Total assessed valuation 9,329,777,419 $
Tax rate per $100 0.279
Levy (includes discoveries, releases, and abatements) 26,030,079 $
In addition to the County-wide rate, the County had the following levy on
behalf of fire protection districts for the fiscal year ended June 30, 2013. 2,730,139 $
County-Wide
Total Levy
110
Schedule J-3
SCHEDULE OF AD VALOREM TAXES RECEIVABLE - FIRE DISTRICTS
JUNE 30, 2013
Uncollected Uncollected
Fiscal Balance Collections Balance
Year July 1, 2012 Additions and Credits June 30, 2013
2012-2013 - $ 2,730,139 $ 2,602,739 $ 127,400 $
2011-2012 122,260 - 70,068 52,192
2010-2011 50,291 - 20,367 29,924
2009-2010 29,205 - 9,639 19,566
2008-2009 18,504 - 5,889 12,615
2007-2008 11,410 - 2,877 8,533
2006-2007 8,255 - 1,268 6,987
2005-2006 7,437 - 1,398 6,039
2004-2005 5,935 - 746 5,189
2003-2004 4,786 - 370 4,416
2002-2003 2,196 - 2,196 -
Total 260,279 $ 2,730,139 $ 2,717,557 $ 272,861
Less allowance for uncollectible ad valorem taxes receivable:
Fire Districts Fund (123,205)
Fire districts taxes receivable net 149,656 $
Reconciliation of Revenues with Collections and Credits:
Taxes ad valorem Fire Districts Fund 2,738,405 $
Taxes written off 2,013
Miscellaneous adjustments (22,861)
Total collections and credits 2,717,557 $
111
Schedule J-4
ANALYSIS OF CURRENT TAX LEVY - FIRE DISTRICTS
Amount
of Levy
Original Levy:
Franklin Fire District 494,579 $
Clarks Chapel Fire District 202,918
Otto Fire District 252,305
Cullasaja Fire District 242,400
West Macon Fire District 290,423
Scaly Mountain Fire District 115,250
Burningtown/Iotla Fire District 159,065
Cowee Fire District 277,386
Nantahala Fire District 211,412
Highlands Fire District 358,850
Mountain Valley Fire District 125,551
Net Levy 2,730,139
Less uncollected taxes at June 30, 2013 127,400
Current Year's Taxes Collected 2,602,739 $
Current Levy Collection Percentage 95.33%
112
STATISTICAL SECTION
The Statistical Section includes data extracted from prior years financial reports and various
other sources.
The information presented in this section does not provide full and adequate disclosure of
financial information for prior years required by generally accepted accounting principles.
Such information is provided for supplementary analysis purposes and should be relied on
only for the purpose specified.
Contents
Financial Trends
These schedules contain trend information to help the reader understand how the
Countys financial performance and well-being have changed over time.
Revenue Capacity
These schedules contain information to help the reader assess the Countys most
significant local revenue source, the property tax.
Debt Capacity
These schedules present information to help the reader assess the affordability of the
Countys current levels of outstanding debt, and the Countys ability to issue additional
debt in the future.
Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader
understand the environment within which the Countys financial activities take place.
Operating Information
These schedules contain service and infrastructure data to help the reader understand how
the information in the Countys financial report relates to the services the government
provides, and the activities it performs.
Sources: Unless otherwise noted, the information in these schedules is derived from the
Comprehensive Annual Financial Reports for the relevant year.

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Y
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r
s
131


Macon County NC Comprehensive Financial Audit Report - June 30, 2013

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