1. Town of Nags Head 2009 Audited Financial Statements

2. Audit Highlights  Unqualified Opinion  No questioned costs  Cooperative Staff

3. General Fund Summary

4. Fund Balance  Serves as a measure of the Town’s financial resources available Assets – Liabilities = Fund Balance 3 Classifications:  Reserved  Unreserved Designated (Available)  Unreserved Undesignated (Available)

5. Total Fund Balance General Fund $505,939

6. Total Fund Balance General Fund  Total Fund Balance$8,999,672  Required Reservations-1,392,711  Unreserved Fund Balance$7,606,961  Designated for Subsequent years -737,063  Unreserved 2009$6,869,898  Unreserved 2008$7,347,800  Decrease in Undesignated FB$ 477,902

7. Unreserved Fund Balance as a Percent of Expenditures – General Fund

8. Ad Valorem Taxes

9. Other Taxes and Licenses

10. Intergovernmental Revenues

11. General Government

12. Public Safety

13. Environmental Protection

14. Public Works

15. Debt Service

16. Enterprise Funds Summary of Budgetary Results Water Stormwater  Cash $3,988,036 $303,521  Operating Revenues $2,398,309 $112,368  Operating Expenditures $2,837,488$125,505  Operating Income (loss) $ (439,179)$(13,137)  Change in Net Assets $(654,744)$(11,353)

17. Enterprise Funds RequiredCash FlowUnrestricted Debt Service From Operations Net Assets  Water$130,283 $(25,614) $3,660,893  Stormwater $13,764 $(11,449) $ 307,840 Comparison to June 30, 2008  Water$154,455 $44,903 $3,877,353  Stormwater $13,764 $134,872 $320,047

18. Water Fund Quick Ratio

19. Stormwater Quick Ratio

20. Discussion & Questions

21. Town of Nags Head