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History, Charm and Southern Hospitality

Comprehensive Annual Financial Report (CAFR) presented to council

State law requires the Village to publish financial statements presented in conformity with generally accepted accounting principles (GAAP) and audited in accordance with generally accepted auditing standards by a firm of licensed certified public accountants.  Pursuant to this requirement, the Village issued the Comprehensive Annual Financial Report (CAFR) for the fiscal year ending June 30, 2014 to the Village Council on November 18, 2014. The audit report received an unqualified or “clean” opinion from the auditors, Dixon Hughes Goodman.

The Village’s financial position through the fiscal year ended June 30, 2014 is good. The Village’s general fund revenues exceeded expenditures by $587,000, increasing the Village’s General Fund fund balance to $7,748,844. This level of fund balance represents 42% of General Fund expenditures and is just above the Council’s adopted range for fund balance of 30%-40%.

Overall, the Village’s balance sheet is strong our debt levels are low. These financial results leave the Village well positioned to accomplish the objectives set forth in the FY 2015 Strategic Plan.

To read the CAFR in its entirety, please click here.

Also presented with this year’s CAFR was a Financial Condition Assessment.  The assessment compares selected financial information from the Village’s audited financial statements to that of our peer municipalities. The report is presented in a graphical “dashboard” format.  The reporting tool used to create the assessment was developed by the UNC School of Government and adapted for use by the Financial Services Department.

The Village of Pinehurst

is a charming, vibrant community which reflects our rich history and traditions, enhanced by a unique combination of cultural arts and recreational activities.

Village of Pinehurst
395 Magnolia Road
Pinehurst, NC 28374
910.295.1900
Business Hours: 8:30 am - 5:00 pm

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