Funds are the governing structure for a government and are used to measure the financial resources available to the town. Huntersville North Carolina utilizes fund accounting for its budget and to ensure compliance with the law. Funds are categorized according to purpose and are comprised of governmental and proprietary funds.
Governmental funds include the finances for the basic services provided by the town. The funds allocated to the General Fund are used to pay for capital improvements, such as roads and bridges.The Town of Huntersville participates in the statewide Local Governmental Employees' Retirement System (LGERS), a defined benefit, cost-sharing pension plan. Its membership includes general employees and local law enforcement officers.
The LGERS Board of Trustees is comprised of 13 members, with the State Treasurer and State Superintendent as ex-officio members. This budget also contains a number of improvements to local services. For example, the Town of Huntersville has a new fire station, and increased funding for the police department.According to NeighborhoodScout, the Plum Creek / Greenfield neighborhood of Huntersville has the highest median household income in the city. This area of the city is higher in income than 86.3% of all neighborhoods in America.
As a result, only 0.0% of children in the neighborhood are below the federal poverty line. This is far better than the national average, which is one of the most important things to consider when choosing a neighborhood.The financial statement of the Town of Huntersville consists of three parts: the government-wide financial statement, the fund-level financial statements, and the notes to the financial statements.
The budget includes two levels of control, the department level and the general fund. The notes to the financial statements are supplementary to the other sections of the financial report. They serve as a useful tool for citizens to determine the town's financial health and make informed decisions about the future.While most governmental activities are financed through property and other taxes, many others are funded through contributions and grants.
The Town's electric operations and the Huntersville Family Fitness and Aquatics Center fall into this category. The Town's basic financial statements are on Exhibits 1 and 2, while fund financial statements give a more detailed look at each of these activities. For the most complete picture of the financial health of the Town, it is helpful to look at the three major fund accounts in detail.