Town gets excellent rating for ‘07 audit

The town of Culpeper earned a Certificate of Achievement for Excellence in Financial Reporting for its recently audited Comprehensive Annual Financial Report for the fiscal year ended June 30, 2007. Auditor Brian Blanton of Norton-based Thrower, Blanton & Associates presented highlights of the report at Tuesday's town council meeting.

Prepared by Town Treasurer Neal Deane, the 80-page document contains detailed financial information about all town departments, and not surprisingly shows "a continued theme" of population growth over the past four years though "at a considerably slower rate during (fiscal year) 07," Deane wrote in the introduction.

He predicted the town's location "in the D.C./Northern Virginia growth ring" would bring "steady population increases during the next two decades."

"The growth trend is changing the face of the town of Culpeper to that of both a regional marketing area and commuter-oriented town," Deane said, mentioning an upbeat outlook for the town and new commercial offerings downtown and along the Bus. 29 corridor.

"Not all of the consequences of growth are positive," he went on, "and the town faces many challenges in the coming years to address the demands on capital facilities and operations of a growing population."

Namely, said Deane, growth just beyond the corporate limits will place "an increasing demand for services without any ability to recover operating revenues."

In the past fiscal year, town and county leaders continued to discuss an agreement whereas the town could grow its boundaries into some of these new development areas in exchange for "surrendering its water and sewer utilities to a new water and sewer authority that would serve the entire county," Deane said.

But the talks have prompted "a certain degree of trepidation" on both sides, the town treasurer said.

"Both governments easily recognize the short-term risks, but both also acknowledge the larger opportunity costs of not reaching an agreement," Deane said in the financial report.

"The costs for the county are primarily in the operation of a separate utility covering a large geographical area and with only a small customer base; the costs for the town are meeting the increasing demands for services from a tax base that is confined to its 1968 boundaries."

Allison Brophy Champion can be reached at 825-0771 ext. 101 or

The town's top employer:

Culpeper County Public Schools - 1,490 employees

The next four top employers:

Culpeper Regional  Hospital: 625

Wal-Mart: 598

Culpeper County  government: 505

Merillat: 340

More town labor data:

Unemployment rate: 3.2 percent
Inflation rate: 2.7
percent
Population: 15,500
Personal income: $1.009 billion
Per capital median income: $65,100
Median age: 32
School enrollment: 2,445
Town employees: 160

Here are more highlights from the town of Culpeper's audited Comprehensive Annual Financial Report for fiscal year 2007 - July 1, 2006 through June 30, 2007:

Total assets: $74.2 million
Total debt: $17.3 million
Total programs and services expenses: $25.9 million
Total revenues: $30 million

Town utilities
Water expenses: $2.6 million
Water revenues: $4.7 million
Sewer expenses: $3.5 million
Sewer revenues: $5.7 million
Electric expenses: $8.8 million
Electric revenues: $8.3 million

Expenses
Government administration: $2.18 million
Public safety: $3.7 million
Public works: $2.63 million
Elderly tax relief: $6,907
Parks, recreation and cultural: $516,086
Community development: $1.05 million
Capital projects: $1.26 million
Debt service: $567,913

Certificates of occupancy
FY03: 146
FY04: 302
FY05: 607
FY06: 469
FY07: 223

Zoning and building permits
FY04: 1,016
FY05: 997
FY06: 694
FY07: 724

Principal property taxpayers
Society for Worldwide Interbank
Dominion Square
Wal-Mart
Culpeper Commons
Medical Facilities of America
Merillat Corporation
Culpeper Shopping Center Joint Venture
Culpeper House LTD
Southridge

SOURCE: Town of Culpeper Treasurer's Office