12.31.2025 Annual Comprehensive Financial ReportNorth
Augusta
South Carolina's Riverfront
CITY OF NORTH AUGUSTA
Annual Comprehensive
Financial Report
Year Ended December 31,2025
CITY OF NORTH AUGUSTA
SOUTH CAROLINA
ANNUAL COMPREHENSIVE
FINANCIAL REPORT
YEAR ENDED
DECEMBER 31, 2025
Prepared by
Department of Finance
Lynda R. Williamson
Director of Finance
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE YEAR ENDED DECEMBER 31, 2025
TABLE OF CONTENTS
Page Number
INTRODUCTORY SECTION
Letter of Transmittal ....................................................................................................................................... i - vii
GFOA Certificate of Achievement .................................................................................................................... viii
City Organizational Chart ................................................................................................................................... ix
Principal Officials ................................................................................................................................................. x
FINANCIAL SECTION
Independent Auditor’s Report ........................................................................................................................ 1 - 4
Management’s Discussion and Analysis .................................................................................................... 5 - 14
Basic Financial Statements:
Government-wide Financial Statements
Statement of Net Position ........................................................................................................................ 15
Statement of Activities .............................................................................................................................. 16
Fund Financial Statements
Balance Sheet – Governmental Funds .................................................................................................... 17
Reconciliation of the Governmental Funds Balance Sheet to the
Statement of Net Position ...................................................................................................................... 18
Statement of Revenues, Expenditures and Changes in Fund
Balances – Governmental Funds .......................................................................................................... 19
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds to the Statement of Activities ............................................ 20
Statement of Net Position – Proprietary Funds ..................................................................................... 21
Statement of Revenues, Expenses and Changes in Net Position –
Proprietary Funds ................................................................................................................................... 22
Statement of Cash Flows – Proprietary Funds .......................................................................... 23 and 24
Notes to Financial Statements .............................................................................................................. 25 - 62
Required Supplementary Information:
Schedule of Proportionate Share of the Net Pension Liability –
South Carolina Retirement System ....................................................................................................... 63
Schedule of Proportionate Share of the Net Pension Liability –
Police Officers Retirement System ....................................................................................................... 63
Schedule of Contributions –
South Carolina Retirement System ........................................................................................... 64 and 65
Schedule of Contributions –
Police Officers Retirement System ........................................................................................... 64 and 65
General Fund – Schedule of Revenues, Expenditures and Changes in
Fund Balance – Budget and Actual ....................................................................................................... 66
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE YEAR ENDED DECEMBER 31, 2025
TABLE OF CONTENTS (CONTINUED)
Page Number
FINANCIAL SECTION (CONTINUED)
Other Supplementary Information:
Combining and Individual Nonmajor Fund Financial Statements:
General Fund – Schedule of Revenues and Expenditures Compared
with Budget ....................................................................................................................................... 67 - 76
Combining Balance Sheet – Nonmajor Governmental Funds .............................................................. 77
Combining Statement of Revenues, Expenditures and Changes in Fund
Balances – Nonmajor Governmental Funds ........................................................................................ 78
Combining Balance Sheet – Nonmajor Special Revenue Funds ......................................................... 79
Combining Statement of Revenues, Expenditures and Changes in Fund
Balances – Nonmajor Special Revenue Funds .................................................................................... 80
Combining Balance Sheet – Nonmajor Capital Projects Funds ........................................................... 81
Combining Statement of Revenues, Expenditures and Changes in Fund
Balances – Nonmajor Capital Projects Funds ..................................................................................... 82
Enterprise Fund – Water and Wastewater System Fund:
Schedule of Revenues and Expenses – Budget and Actual – GAAP Basis ................................... 83
Schedule of Operating Expenses – Budget and Actual – GAAP Basis ............................... 84 and 85
Enterprise Fund – Stormwater Utility Fund:
Schedule of Revenues and Expenses – Budget and Actual – GAAP Basis ................................... 86
Schedule of Operating Expenses – Budget and Actual – GAAP Basis ........................................... 87
Enterprise Fund – Sanitation Services Fund:
Schedule of Operating Revenues and Expenses – Budget and Actual – GAAP Basis ................. 88
Schedule of Operating Expenses – Budget and Actual – GAAP Basis ........................................... 89
Supplementary Information Required by the State of South Carolina:
Uniform Schedule of Court Fines, Assessments and Surcharges (per ACT 96) .................... 90 and 91
STATISTICAL SECTION
Financial Trends Information:
Net Position by Component ..................................................................................................................... 92
Changes in Net Position ............................................................................................................... 93 and 94
Fund Balances, Governmental Funds ..................................................................................................... 95
Changes in Fund Balances, Governmental Funds ................................................................................ 96
Revenue Capacity Information:
Assessed Value and Estimated Actual Value of Taxable Property ...................................................... 97
Direct and Overlapping Property Tax Rates ........................................................................................... 98
Principal Property Taxpayers .................................................................................................................. 99
Property Tax Levies and Collections .................................................................................................... 100
Business Licenses/Franchise Fees ....................................................................................................... 101
Number of Utility Customers ................................................................................................................. 102
Ten Largest Water and Wastewater Customers .................................................................................. 103
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE YEAR ENDED DECEMBER 31, 2025
TABLE OF CONTENTS (CONTINUED)
Page Number
STATISTICAL SECTION (CONTINUED)
Debt Capacity Information:
Ratio of Outstanding Debt by Type ........................................................................................................... 104
Ratios of General Bonded Debt Outstanding ........................................................................................... 105
Direct and Overlapping Governmental Activities Debt ........................................................................... 106
Legal Debt Margin Information .................................................................................................................. 107
Pledged-Revenue Bond Coverage ............................................................................................................ 108
Demographic and Economic Indicators:
Economic Statistics .................................................................................................................................... 109
Principal Employers .................................................................................................................................... 110
Full-time Budget Equivalent Employees by Fund/Function/Department .............................................. 111
Operating Information:
Operating Indicators by Function/Program .............................................................................................. 112
Capital Asset Statistics by Function/Program ......................................................................................... 113
Enterprise Fund Rates and Charges ......................................................................................................... 114
Enterprise Funds History of Rates and Charges ..................................................................................... 115
COMPLIANCE SECTION
Independent Auditor’s Report on Internal Control over Financial Reporting
and on Compliance and Other Matters Based on an Audit of Financial
Statements Performed in Accordance with Government Auditing Standards .......................... 116 and 117
Independent Auditor’s Report on Compliance for Each Major Federal Program
and Report on Internal Control over Compliance Required by the Uniform Guidance ................. 118 - 120
Schedule of Expenditures of Federal Awards ............................................................................................... 121
Notes to the Schedule of Expenditures of Federal Awards ......................................................................... 122
Schedule of Findings and Questioned Costs .................................................................................. 123 and 124
June 19, 2026
Honorable Mayor,
Members of City Council, and
Citizens of North Augusta
North Augusta, South Carolina 29841
Ladies and Gentlemen:
State law requires that all general purpose local governments publish a complete set of financial
statements presented in conformity with generally accepted accounting principles (GAAP) and
audited in accordance with generally accepted auditing standards (GAAS) by a firm of licensed
certified public accountants. Pursuant to that requirement, we hereby issue the annual
comprehensive financial report of the City of North Augusta (the “City”) for the fiscal year ended
December 31, 2025.
This report consists of management’s representation concerning the finances of the City.
Management assumes full responsibility for the completeness and reliability of the information
contained in this report based upon a comprehensive framework of internal controls that it has
established for this purpose. Because the cost of internal controls should not exceed anticipated
benefits, the objective is to provide reasonable, rather than absolute, assurance that the financial
statements are free of any material misstatements.
The City’s financial statements have been audited by Mauldin and Jenkins, a firm of licensed
certified public accountants. The goal of the independent audit is to provide reasonable assurances
the financial statements of the City, for the fiscal year ended December 31, 2025, are free of
material misstatement. The independent audit involved examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements; assessing the accounting
principles used and significant estimates made by management; and evaluating the overall
financial statement presentation. The independent auditor has rendered an unmodified opinion
that the City of North Augusta’s financial statements, for the fiscal year ended December 31, 2025,
are fairly presented in conformity with GAAP. The independent auditor’s report is presented as
the first component of the financial section of this report.
Management’s discussion and analysis (MD&A) immediately follows the independent auditor’s
report and provides a narrative introduction, overview, and analysis of the basic financial
statements. This Letter of Transmittal is designed to complement the MD&A and should be read
in conjunction with it.
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Profile of the Government
The City of North Augusta, South Carolina was officially incorporated on April 11, 1906. The
City is strategically centered in the Augusta-Aiken metropolitan area and conveniently located
along the South Carolina bank of the Savannah River. The City is approximately 70 miles west
of the South Carolina capital, Columbia, and 150 miles east of the Georgia capital, Atlanta. The
City’s nearest neighbor is Augusta, Georgia, located just across the Savannah River. North
Augusta offers the best of both worlds - an idyllic, small-town lifestyle amid all the benefits of big
city living. The City encompasses approximately 22 square miles. The 2020 population of the
City is estimated to be 24,379 with a total of approximately 168,808 in Aiken County.
The City of North Augusta has a Mayor-Council form of government. City Council is composed
of seven members elected at large on a partisan basis. The Mayor is elected to a four-year term,
presides at all meetings of City Council, and is the recognized head of the City. Six Council
members are elected every two years to serve four year staggered terms. City Council is the legally
constituted law-making and policy-making body for the City. The Mayor and City Council appoint
the City Administrator for an authorized term. The City Administrator is responsible to the Mayor
for the proper administration of all affairs placed in their charge. Department Directors are
appointed by the Mayor upon recommendation of the City Administrator.
The City provides a full range of municipal services which include: Finance and General Services
(budgetary and general accounting, information technology, treasury services, human resources
and payroll, cash collections, purchasing, utility billing, and tax and business license billing);
Parks, Recreation and Tourism (recreation programs, park maintenance, beautification and
property maintenance, concessions, special events planning, athletics, and cultural arts); Public
Safety (administrative and support services, police services, fire suppression services,
investigations and special operations, school resource, safety management, and animal control);
Planning and Development (comprehensive planning services, development regulations,
development review, zoning administration, codes enforcement, subdivision services, and
business development); Public Works (engineering services, sanitation and recycling services,
equipment maintenance, stormwater management, building standards, and facilities management);
and Public Utilities (utilities administration, water production, utility operations, utility
construction, wastewater collection and meter reading). The City also is financially accountable
for a legally separate public facilities corporation which has been reported within the City’s
financial statements. Additional information on this legally separate entity can be found in the
notes to the financial statements.
Public Service Enterprises: The City furnishes water, wastewater, stormwater
management, and garbage collection to residents of the City. The City also provides water,
wastewater, garbage collection, and fire protection to some customers located outside the City
limits but within the City’s service area. The City has also entered into agreements with the Valley
Public Service Authority and the Edgefield County Water and Sewer Authority to provide water
and/or wastewater service to certain customers within their service areas. Because of the varying
terrain in and around North Augusta, the distribution system for the City’s water supply is divided
into three service levels to control pressure. Our current maximum pumping capacity is 12 MGD
(million gallons per day).
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Wastewater System: The City of North Augusta provides for the collection of wastewater
to all areas within the City limits and some areas outside the City limits. Wastewater treatment for
the City is provided by the Horse Creek Wastewater Treatment Facility (HCWTF) owned by Aiken
County. The City is a major customer. The HCWTF is a 20 MGD regional wastewater treatment
facility. The City’s present allocation of capacity is 8.672 MGD. The City of North Augusta pays
for the use, maintenance and depreciation of the regional facility based on the total cost of the
facility’s operational and debt service divided among all users on the basis of total gallons
contributed. The table below indicates the City has ample reserve capacity at the present time.
The system is so designed that it can be enlarged into a 40 MGD facility. It has undergone
improvements, of which the City of North Augusta is paying a proportional amount.
Aiken County Public Service Authority 20.0 MGD Facility
Capacities by User
As of June 30, 2025
Present Allocation (MGD) Present Use (MGD)
City of North Augusta 8.672 4.93272
City of Aiken 7.134 5.40961
Aiken County .000 0.00000
Allnex, Inc .900 0.05105
Bath .070 0.02900
Breezy Hill 2.057 0.81970
Beech Island Water & Sewer .090 0.01967
Clearwater .050 0.04462
Langley .060 0.03531
Valley Public Service Authority .767 0.44439
PACTIV Advanced Packaging Solutions .050 0.01337
Kimberly Clark .150 0.02526
Uncommitted .000 0.00000
Total 20.000 11.82470
Aiken County (includes the Aiken County Public Service Authority), the Valley Public Service
Authority, and the Edgefield County Water and Sewer Authority, are independent entities and are
not included in this report. Financial statements can be obtained from the respective entities.
The annual budget serves as the foundation for the City of North Augusta’s financial planning and
control. All Leadership Team members of the City are required to submit requests for
appropriation to the City Administrator by the first week of September each year. The City
Administrator uses these requests as the starting point for developing a proposed budget. The City
Administrator then presents this proposed, balanced budget to City Council for review during the
first week of October. Following review of the proposed budget, City Council holds a public
hearing and as soon thereafter as possible, adopts the budget and passes a budget ordinance, a tax
levy ordinance, and other such ordinances as may be required to make the budget effective. The
appropriated budget is adopted by total expenditures or expenses. Detail is provided for
accounting and budgetary control. Formal budgetary integration is employed as a management
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control device. A budget is legally adopted annually for the General Fund on a basis consistent
with GAAP. Budgets for Special Revenue Funds and Capital Projects Funds are adopted on a
project or activity basis instead of an annual operating cycle basis. Budgets for the Enterprise
Funds are adopted annually on a basis consistent with GAAP except that depreciation is not a
budgeted item. The transfer of budgeted amounts between functional areas must be approved by
City Council; however, the City Administrator can amend the budget at the line item or department
level, within a functional area, not to exceed $5,000. The level of budgetary control (that is, the
level at which expenditures cannot legally exceed the appropriated amount) is established by
department within an individual fund. Department heads have the ability to make budget changes
within their departments. Budgetary data may be presented at lower levels within the department
at the line item level. Management can also over-expend appropriations with City Administrator
approval, at the line item and department level, as long as the total expenditures or expenses do
not exceed appropriations of the functional area.
Local Economy
The City of North Augusta currently enjoys a fairly stable economic environment. The economic
downturn has affected the Central Savannah River Area and North Augusta to a lesser degree than
most major metropolitan areas in the country. The 2020 Decennial Census showed that North
Augusta had grown to a population of 24,379 from 21,348 in 2010, an increase of more than 14
percent and an average annual increase of approximately 1.5 percent. The City estimates the City
population to be 26,982 for 2025.
During the past ten years, Aiken County’s unemployment rate has fluctuated from 5.9 percent in
2015, decreasing to 3.0 percent during 2023, and then increasing to 4.3 percent for 2025. The
2025 rate is the slightly less than South Carolina’s 2025 unemployment rate of 4.5 percent and the
same as the 2025 national rate of 4.0 percent. The increases in unemployment rates recently stem
from the significant population growth in both the state of South Carolina and the county of Aiken,
including a large influx of new residents into the workforce.
Aiken County granted an agreement to Ambiopharm for a Fee-In-Lieu-Of-Tax (FILOT). This tax
incentive is designed to encourage businesses like Ambiopharm to invest and create jobs in Aiken
County, which includes residents of the City of North Augusta. The incentive continues to help
increase economic development of the county and city.
Median household incomes within the City of North Augusta continue to be higher than for the
state as a whole. According to the United States Census Bureau (USCB), the City’s median family
income is $86,092, Aiken County’s is $70,609, and the State’s is $69,324. Housing prices in the
City continue to remain strong. Per the USCB, the median price of a single-family home in the
City is $233,600.
The City continues to experience significant economic growth and investment. Residential
building activity in North Augusta continues with subdivision infrastructure and single-family
construction in Forest Bluff, River North, Hammond’s Ferry, Carolina Lakes, as well, as mixed-
use developments to include the Hive, Riverside Village, and Bluegrass Place. We continue to see
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development plans and growth at interstate access points and surrounding areas leading into our
city including commercial construction for food service establishments and professional services.
North Augusta is currently ranked 36th in the state of South Carolina in growth rate and is currently
the 24th largest municipality.
The City has continued in its efforts to redevelop vacant property on the Savannah River. A
public/private partnership is being jointly developed on approximately 30 acres within Phase B of
the Hammond’s Ferry Development known as Riverside Village. The Augusta GreenJackets
completed their sixth season in the 4,500 seat SRP Park during 2024 and are the Low-A affiliate
for the Atlanta Braves. In addition, 314 apartments, a hotel and conference center, as well as
several restaurants and the stadium parking deck have been completed at Riverside Village.
Construction began on additional mixed-use developments on the remaining parcels to include 315
apartments and 8,100 square feet of retail space. The additions to the Sharon Jones Amphitheater
to include bathrooms and additional seating were completed and have added to the amenities in
Riverside Village, as well, as a boat dock alongside the amphitheater. To date, the City has
constructed the stadium, two parking decks, the public infrastructure and contribution of funds
toward the conference center, and completion of a riverfront park known as the Sharon Jones
Amphitheater. Cost of the public improvements is approximately $75,000,000. The funding
mechanism for the public projects includes tax increment financing, local hospitality and
accommodations taxes, parking revenues, corporate naming rights, and stadium rental payments.
Long-Term Financial Planning and Major Initiatives
During the year, City Council and Staff have met in planning sessions. The major focus of these
sessions is to identify the best possible future for North Augusta and to chart a course to make that
future a reality. The success of these planning sessions can be easily measured by the many
changes that have taken place in the City over the past few years. Future projects requiring
significant financial planning and resources have been identified as follows: new public safety fire
station and training center, transportation improvements to include improvements to intersections
and reconstruction/resurfacing of roads, restoration of our parks and facilities, expansion of our
greeneway, utility infrastructure improvements, gateways and wayfinding enhancements,
improvements to information technology as well as safety and security improvements, downtown
development, and library improvements. Voters approved a fifth phase of the county-wide One-
Cent Capital Projects Sales Tax with revenue collections set to begin in May 2026 expected to
generate approximately $48,633,586 to fund these identified needs.
The Local Hospitality and Accommodations taxes levied by the City during 1998 have continued
as a positive revenue stream in 2025 reflecting continued residential and commercial growth in the
City. During November 2018, Aiken County voters approved the fourth phase of a county-wide
One-Cent Capital Projects Sales Tax. Current estimates reflect that the fourth phase sales tax will
generate approximately $37,000,000 for the City over seven years which began in 2020. These
funds have been earmarked for a variety of projects to include the new public safety headquarters,
Bluff Avenue road reconstruction, as well as improvements to the downtown area and city parks.
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The City has received all funding allocated in Coronavirus State and Local Fiscal Recovery Funds
in excess of $11,000,000. The City elected to use the standard allowance of $10,000,000 for
revenue loss and obligate to fund general government services as well as an additional $1,800,000
obligated towards investment in water and sewer infrastructure. The City has completed most
projects obligated with these funds. With these funds and funds from the South Carolina
Infrastructure Improvement Program, the City was able to inspect, repair, replace, and or
rehabilitate 28,049 feet of clay pipe and 152 manholes in our southwest interceptor constructed in
the 1950s, as well as upgrade our Clay Street Pump station constructed in 1974.
In October 2025, the City established the Impact Fee for the intent to implement the goals,
objectives, and policies of the North Augusta Comprehensive Plan relating to assuring that new
development contributes its fair share towards the costs of public facilities reasonably necessitated
by such new development and to ensure the new development is benefited by the provision of the
public facilities funded in whole or in part by the impact fees. Impact fees are assessed in the areas
of Parks and Recreation, Sanitation, Water, and Wastewater.
Relevant Financial Policies
The City’s financial policies allow the General Fund unassigned fund balance, in excess of the
required General Fund reserve of 15 percent of the current budget, to be transferred to the Capital
Projects Fund at the end of each fiscal year. These funds are used for one-time capital
expenditures, reducing the need to incur additional debt for capital related purchases and facilities.
The amount to be transferred from the General Fund to the Capital Projects Fund as of December
31, 2025 is $0. This result is due to Hurricane Helene–related clean-up and restoration
expenditures incurred in the General Fund, which reduced the unassigned balance below the
threshold necessary to fund the transfer. FEMA reimbursements and grants are expected to
replenish the General Fund reserves, enabling a transfer in a future year.
Awards and Acknowledgements
The Government Finance Officers Association of the United States and Canada (GFOA) awarded
a Certificate of Achievement for Excellence in Financial Reporting to the City of North Augusta
for its annual comprehensive financial report (ACFR) for the fiscal year ended December 31, 2024.
This was the forty-third consecutive year that the government has achieved this prestigious award.
In order to be awarded a Certificate of Achievement, the government had to publish an easily
readable and efficiently organized annual comprehensive financial report that satisfied both
generally accepted accounting principles and applicable program requirements.
A Certificate of Achievement for Excellence in Financial Reporting is valid for a period of one
year only. However, we believe that our current comprehensive annual financial report continues
to meet the Certificate of Achievement for Excellence in Financial Reporting Program’s
requirements and we are submitting it to the GFOA to determine its eligibility for another
certificate.
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Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of North Augusta
South Carolina
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
December 31, 2024
Executive Director/CEO
viii
222 OrganizaƟonal Chart ‐ 2025 ix
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
LIST OF ELECTED AND APPOINTED OFFICIALS
December 31, 2025
ELECTED OFFICIALS
Briton S. Williams, Mayor
Kevin W. Toole, Mayor Pro Tempore
Dennis C. Briatico, Councilman
David B. Buck, Councilman
Pat C. Carpenter, Councilwoman
John M. Felak, Councilman
Robert L. Freitas, Councilman
APPOINTED OFFICIALS
James S. Clifford, City Administrator
Jacob D. McCauley, Ph.D., Assistant City Administrator
Kelly F. Zier, City Attorney
Jamie Barton, City Clerk
Richard L. Meyer, Director of Parks, Recreation & Tourism
Thomas L. Paradise, Director of Planning & Development
James E. Sutton, Director of Public Services
Joe R. Johnson, Director of Public Safety
Lynda R. Williamson, Director of Finance
Thomas C. Zeaser, P.E., Director of Engineering & Public Works
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MAULDIN & JENKINS, LLC • 508 HAMPTON STREET, 1ST FLOOR • COLUMBIA, SOUTH CAROLINA 29201
803-799-5810 • FAX 803-799-5554 • www.mjcpa.com
MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS
Independent Auditor’s Report
To the Honorable Mayor and Members
of the City Council
City of North Augusta, South Carolina
Report on the Audit of the Financial Statements
Opinions
We have audited the financial statements of the governmental activities, the business-type activities, each
major fund, and the aggregate remaining fund information of the City of North Augusta, South Carolina
(the “City”), as of and for the year ended December 31, 2025, and the related notes to the financial
statements, which collectively comprise the City’s basic financial statements as listed in the table of
contents.
In our opinion, the accompanying financial statements referred to above present fairly, in all material
respects, the respective financial position of the governmental activities, the business-type activities, each
major fund, and the aggregate remaining fund information of the City of North Augusta, South Carolina, as
of December 31, 2025, and the respective changes in financial position, and, where applicable, cash flows
thereof for the year then ended in accordance with accounting principles generally accepted in the United
States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States. Our responsibilities under those standards are
further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our
report. We are required to be independent of the City and to meet our other ethical responsibilities, in
accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence
we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in
accordance with accounting principles generally accepted in the United States of America, and for 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.
In preparing the financial statements, management is required to evaluate whether there are conditions or
events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a
going concern for twelve months beyond the financial statement date, including any currently known
information that may raise substantial doubt shortly thereafter.
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mjcpa.com
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that
includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and
therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing
Standards will always detect a material misstatement when it exists. The risk of not detecting a material
misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Misstatements are considered material if there is a substantial likelihood that, individually or in the
aggregate, they would influence the judgment made by a reasonable user based on the financial
statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we:
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, and design and perform audit procedures responsive to those risks. Such procedures
include examining, on a test basis, evidence regarding the amounts and disclosures in the financial
statements.
Obtain an understanding of internal control relevant to the audit 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 City’s internal control. Accordingly, no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate,
that raise substantial doubt about the City’s ability to continue as a going concern for a reasonable
period of time.
We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit, significant audit findings, and certain internal control-related matters
that we identified during the audit.
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mjcpa.com
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Management’s
Discussion and Analysis (on pages 5 through 14), the Schedule of Proportionate Share of the Net Pension
Liability – South Carolina Retirement System (page 63), the Schedule of Proportionate Share of the Net
Pension Liability – Police Officers Retirement System (page 63), the Schedule of Contributions – South
Carolina Retirement System (pages 64 and 65), the Schedule of Contributions – Police Officers Retirement
System (pages 64 and 65), and the General Fund – Schedule of Revenues, Expenditures and Changes in
Fund Balance – Budget and Actual (page 66) be presented to supplement the basic financial statements.
Such information is the responsibility of management and, 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 GAAS, which consisted of inquiries of management about the methods of
preparing the information and comparing the information for consistency with management’s 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 Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City’s basic financial statements. The combining and individual nonmajor fund financial
statements, the General Fund budget and actual schedule, the enterprise fund budget and actual schedules,
and the schedule of expenditures of federal awards, as required by Title 2 U.S. Code of Federal Regulations
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
(Uniform Guidance), are presented for purposes of additional analysis and are not a required part of the
basic financial statements. The Uniform Schedule of Court Fines, Assessments and Surcharges (per ACT 96)
is presented for purposes of additional analysis as required by the State of South Carolina and is not a
required part of the basic financial statements. Such information is the responsibility of management and
was derived from and relates directly to the underlying accounting and other records used to prepare the
basic financial statements. The 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 nonmajor fund financial statements, the General Fund budget and actual
schedule, the enterprise fund budget and actual schedules, the schedule of expenditures of federal awards,
and the Uniform Schedule of Court Fines, Assessments and Surcharges (per ACT 96) are fairly stated, in all
material respects, in relation to the basic financial statements as a whole.
Other Information
Management is responsible for the other information included in the annual report. The other information
comprises the introductory and statistical sections but does not include the basic financial statements and
our auditor’s report thereon. Our opinions on the basic financial statements do not cover the other
information, and we do not express an opinion or any form of assurance thereon.
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mjcpa.com
In connection with our audit of the basic financial statements, our responsibility is to read the other
information and consider whether a material inconsistency exists between the other information and the
basic financial statements, or the other information otherwise appears to be materially misstated. If, based
on the work performed, we conclude that an uncorrected material misstatement of the other information
exists, we are required to describe it in our report.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated June 15, 2026, on
our consideration of the City’s 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 solely 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 the effectiveness
of the City’s 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 the City’s internal control
over financial reporting and compliance.
Columbia, South Carolina
June 15, 2026
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MANAGEMENT’S DISCUSSION AND ANALYSIS
As the management of the City of North Augusta (the “City”), we offer readers of the City’s financial
statements this narrative overview and analysis of the financial activities of the City for the fiscal year
ended December 31, 2025. We encourage readers to consider the information presented here in
conjunction with additional information that we have furnished in our letter of transmittal and financial
statements.
Financial Highlights
The following information highlights the most significant changes to the City’s financial position over the
last year. Though not intended to be all-inclusive, this information provides a snapshot of the most
important changes in the City’s financial position over the last year:
The assets and deferred outflows of resources of the City exceeded its liabilities and deferred
inflows of resources at the close of the most recent fiscal year by $201,805,546 (net position). Of
this amount, $808,555 represents unrestricted net position, which may be used to meet the
government’s ongoing obligations to citizens and creditors. This number in the Governmental
Activities is negative following the implementation of Governmental Accounting Standards Board
(GASB) Statement No. 68, which required the City to recognize as a long-term liability, its
proportionate share of the net pension liability of the South Carolina Retirement System and the
Police Officers Retirement System and Statement No. 101, which required the City to recognize
certain types of compensated absences that weren’t previously recognized under the old
standard.
The City’s total net position increased by $14,508,851.
At the close of the current fiscal year, the City’s governmental funds reported combined fund
balances of $34,013,736 an increase of $3,271,601 in comparison with the prior year. The
residential growth in the City has led to higher property tax revenue. Both residential and
commercial construction activity continues to rise in the City, resulting in increases to both
business license and permit revenue streams. The City applied for and was granted additional
state and federal funding for public safety programs. Participation in recreation sports programs,
athletic tournaments, and rentals of City facilities for other events increased in 2025.
Approximately 10.5 percent of the governmental funds combined fund balance, $3,592,477, is
available for spending at the government’s discretion (unassigned fund balance).
At the end of the current fiscal year, the unrestricted fund balance (the total of the committed,
assigned, and unassigned components of fund balance) for the general fund was $3,592,477 or
10.56 percent of total general fund expenditures.
The City’s outstanding debt decreased by ($5,114,193) due to making scheduled debt payments.
Overview of the Financial Statements
The discussion and analysis provided here are intended to serve as an introduction to the City’s basic
financial statements. The City’s basic financial statements consist of three components: 1) government-
wide financial statements, 2) fund financial statements and 3) the notes to the financial statements. This
report also contains other supplementary information in addition to the basic financial statements
themselves.
Government-wide Financial Statements
The government-wide financial statements are designed to provide readers with a broad overview of the
City’s finances in a manner similar to a private-sector business.
5
The statement of net position presents information on all of the City’s assets, liabilities, and deferred
inflows/outflows of resources with the difference reported as net position. Over time, increases and
decreases in net position may serve as a useful indicator of whether the financial position of the City is
improving or deteriorating.
The statement of activities presents information showing how the City’s net position changed during the
most recent fiscal year. All changes in net position are reported as soon as the underlying event giving
rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses
are reported for some items that will only result in cash flows in future fiscal periods (e.g., uncollected
taxes and earned but unused vacation leave).
Both government-wide financial statements distinguish functions of the City that are principally supported
by taxes and intergovernmental revenues (governmental activities) from other functions that aim to
recover all or a significant portion of their costs through user fees and charges (business-type activities).
The governmental activities of the City include general government, public safety, public works, and
parks, recreation, and tourism. The business-type activities of the City include water and wastewater
utilities, sanitation services, and stormwater enterprises.
The government-wide financial statements include not only the City itself (known as the primary
government), but also a legally separate public facilities corporation for which the City is financially
accountable. The corporation, although a legally separate entity, functions for all practical purposes as a
fund of the City and therefore has been included as an integral part of the primary government.
The government-wide financial statements can be found immediately following this discussion and
analysis.
Fund Financial Statements
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. The City, like other local governments, uses fund
accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the
funds of the City can be divided into two categories: governmental funds and proprietary funds. The City
does not have a fiduciary fund.
Governmental funds. Governmental funds are used to account for essentially the same functions
reported as governmental activities in the government-wide financial statements. However, unlike the
government-wide financial statements, governmental fund financial statements focus on near-term inflows
and outflows of spendable resources, as well as on balances of spendable resources available at the end
of the fiscal year. Such information may be useful in evaluating a government’s near-term financing
requirements.
Because the focus of governmental funds is narrower than that of the government-wide financial
statements, it is useful to compare the information presented for governmental funds with similar
information presented for governmental activities in the government-wide financial statements. By doing
so, readers may better understand the long-term impact of the government’s near-term financing
decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues,
expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between
governmental funds and governmental activities.
The City maintains 14 individual governmental funds. Information is presented separately in the
governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and
changes in fund balance for the General Fund, which is considered a major fund. Information is also
presented separately for the Capital Projects Sales Tax IV Fund, Capital Projects Fund, Tax Increment
Fund, and North Augusta Public Facilities Corporation Fund, which the City elects to present as major
funds.
6
Information from the other nine governmental funds is combined into a single aggregated presentation.
Individual fund data for each of these nonmajor governmental funds is provided in the form of combining
statements in this report.
The City adopts an annual appropriated budget for its General Fund. A budgetary comparison statement
has been provided for the General Fund to demonstrate compliance with the budget.
The basic governmental fund financial statements can be found immediately following the government-
wide financial statements.
Proprietary funds. The City maintains one type of proprietary fund. Enterprise funds are used to report
the same functions presented as business-type activities in the government-wide financial statements.
The City uses enterprise funds to account for its water, wastewater, sanitation, and stormwater operations
as well as the Savannah Bluff Lock and Dam that was created for the purpose of maintaining the Augusta
pool on the Savannah River.
Proprietary funds provide the same type of information as the government-wide financial statements, but
in more detail. The proprietary fund financial statements provide separate information for the water,
wastewater, sanitation, and stormwater operations, all of which are considered to be major funds of the
City. Savannah Bluff Lock and Dam is a nonmajor fund. The proprietary fund financial statements can
be found immediately following the governmental fund financial statements.
Notes to the Financial Statements. The notes provide additional information that is essential for a full
understanding of the data provided in the government-wide and fund financial statements. The notes to
the financial statements can be found immediately following the proprietary fund financial statements.
Other Financial Information. In addition to the basic financial statements, accompanying notes, and
required supplementary information, this report presents certain financial data of individual fund
statements and schedules.
Government-wide Financial Analysis
As noted earlier, net position over time may serve as a useful indicator of a government’s financial
position. In the case of the City, assets and deferred outflows of resources exceeded liabilities and
deferred inflows of resources by $201,805,546 at the close of the most recent fiscal year.
City of North Augusta's Net Position
2025 2024 2025 2024 2025 2024
Current and other assets 37,290,019$ 35,901,729$ 23,653,416$ 25,671,975$ 60,943,435$ 61,573,704$
Capital assets 155,707,530 156,788,640 98,754,233 90,078,882 254,461,763 246,867,522
Total Assets 192,997,549 192,690,369 122,407,649 115,750,857 315,405,198 308,441,226
Deferred outflows of resources 3,131,384 2,867,861 1,198,829 958,553 4,330,213 3,826,414
Long-term liabilities outstanding 86,784,168 90,975,015 22,610,437 24,541,328 109,394,605 115,516,343
Other liabilities outstanding 2,902,783 4,921,701 2,897,669 2,012,971 5,800,452 6,934,672
Total Liabilities 89,686,951 95,896,716 25,508,106 26,554,299 115,195,057 122,451,015
Deferred inflow of resources 2,236,938 2,037,593 497,870 482,337 2,734,808 2,519,930
Net position:
Net investment in capital assets 86,421,444 83,754,381 84,547,697 75,191,616 170,969,141 158,945,997
Restricted 21,240,999 16,928,855 8,786,851 9,564,203 30,027,850 26,493,058
Unrestricted (3,457,399) (3,059,315) 4,265,954 4,916,955 808,555 1,857,640
Total Net Position 104,205,044$ 97,623,921$ 97,600,502$ 89,672,774$ 201,805,546$ 187,296,695$
Governmental Activities Business-type Activities Total
By far, the largest portion of the City’s net position, 84.72 percent, reflects its investment in capital assets
(e.g.,land, land improvements, rights-of-way and easements, buildings, machinery and equipment,
furniture and fixtures, vehicles, infrastructure, system improvements, PSA capital, and construction in
progress), less any related outstanding debt to acquire those assets. The City uses these capital assets
to provide a variety of services to its citizens. Accordingly, these assets are not available for future
7
spending. Although the City’s investment in capital assets is reported net of related debt, it should be
noted that the resources needed to repay this debt must be provided from other sources since the capital
assets themselves cannot be used to liquidate these liabilities.
An additional portion of the City’s net position, 14.88 percent, represents resources that are subject to
external restrictions on how they may be used. The remaining balance of $808,555 may be used to meet
the government’s ongoing obligations to citizens and creditors.
At the end of the current fiscal year, the City is able to report positive balances in all categories of net
position for the government as a whole. Both the governmental activities and business-type activities are
able to report positive balances in all categories. The governmental unrestricted category was negative in
the prior year. Unrestricted net position is negative in the prior years for governmental activities primarily
because of GASB Statements 68 and 71 requiring the City to accrue net pension liabilities for
governmental and business type activities.
Governmental Activities
During 2025, governmental activities increased the City’s net position by $6,581,123. Governmental
activities revenues decreased ($13,583,168) from 2024 to 2025 primarily due to a decrease in ongoing
projects in Capital Sales Tax IV. Operating grants and contributions decreased ($4,712,164). Capital
grants and contributions decreased ($255,787). Both decreases were due to the completion of several
projects allocated from the SLFRF funds during the prior year. The City also received several grants from
the state of South Carolina in connections with additional public safety. Other tax revenue decreased
(66.87) percent compared to the prior year as a result of the substantial amount of construction on the
Bluff Ave project and Public Safety Headquarters in the prior year, which initiated the receipt of revenue
from the funds held by Aiken County Treasurer’s Office. Property taxes represent 34.07 percent of total
revenues for governmental activities and increased $588,005 from 2024 due to the growth in the City for
both residential and construction properties. Charges for services include: business license revenues,
franchise fees, construction permits, recreational programs, rentals and tournaments, and public safety
fines. These revenues represent 28.47 percent of total revenues for governmental activities and are
predominantly elastic in nature and vary with economic trends. Charges for services increased
$1,119,218 related to continued increases in construction activity and new businesses opening during the
year. The business license revenue collected in 2025 was 9.36 percent greater than the previous year.
Permits issued in 2025 increased 2.06 percent over 2024.
Also, during 2025, governmental activities expenses increased by $3,289,513. General government
expenses increased by $1,906,403 due to the expenses related to natural disaster cleanup of Hurricane
Helene in September of 2024. Parks, Recreation, and Tourism expenses increased $1,103,331, or 20.7
percent, due to the increase in tourism and special events and the related expenses, increase in athletic
tournaments and the related expenses, increase to capital outlay, repairs and updates on park equipment
and trails, increase costs to operate recreation programs, as well as employee retention. Public Works
expenses increased $579,767, or 15.83 percent due to an increase in infrastructure improvements. Public
Safety expenses reflected a decrease of (1.80) percent over the prior year due to the completion of
projects allocated in the ARPA funding in the prior year.
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City of North Augusta's Changes in Net Position
2025 2024 2025 2024 2025 2024
Revenues:
Program revenues:
Charges for services 13,181,752$ 12,062,534$ 19,404,939$ 18,402,880$ 32,586,691$ 30,465,414$
Operating grants and contributions 4,776,163 9,488,327 4,512,277 23,515 9,288,440 9,511,842
Capital grants and contributions - 255,787 2,386,277 1,157,324 2,386,277 1,413,111
General revenues:
Property taxes 15,774,788 15,186,783 - - 15,774,788 15,186,783
Other taxes 6,101,933 18,418,203 - - 6,101,933 18,418,203
Other 6,465,997 4,472,167 1,189,236 1,822,888 7,655,233 6,295,055
Total Revenues 46,300,633 59,883,801 27,492,729 21,406,607 73,793,362 81,290,408
Expenses:
General government 11,631,941 9,725,538 - - 11,631,941 9,725,538
Public safety 13,436,184 13,683,146 - - 13,436,184 13,683,146
Public works 4,241,785 3,662,018 - - 4,241,785 3,662,018
Parks, recreation, and tourism 6,432,577 5,329,246 - - 6,432,577 5,329,246
Interest and fiscal charges on debt service 3,187,678 3,240,704 - - 3,187,678 3,240,704
Water and wastewater - - 13,767,312 11,479,132 13,767,312 11,479,132
Sanitation - - 5,299,855 4,604,017 5,299,855 4,604,017
Stormwater - - 1,262,679 1,070,605 1,262,679 1,070,605
Savannah Bluff Lock and Dam - - 24,500 24,000 24,500 24,000
Total Expenses 38,930,165 35,640,652 20,354,346 17,177,754 59,284,511 52,818,406
Increase (decrease) in net position before transfers 7,370,468 24,243,149 7,138,383 4,228,853 14,508,851 28,472,002
Transfers (789,345) (3,517,082) 789,345 3,517,082 - -
Increase in net position 6,581,123 20,726,067 7,927,728 7,745,935 14,508,851 28,472,002
Net position-beginning of year 97,623,921 76,897,854 89,672,774 81,926,839 187,296,695 158,824,693
Net position-end of year 104,205,044$ 97,623,921$ 97,600,502$ 89,672,774$ 201,805,546$ 187,296,695$
Governmental Activities Business-type Activities Total
Business-type Activities
Business-type activities increased the City’s net position by $7,927,728. Water, Wastewater, Sanitation
and Stormwater rates all remained unchanged in 2025. Water sales increased slightly over the prior year
due to residential and business growth within the City. Rates remained unchanged from the prior year.
Water sales were over budget in 2025 by approximately $88,834 related to an increase in usage and
customer base. The City’s gallons billed increased by 6.5 percent over the prior year. Sewer sales
increased approximately $823,408, 10.32 percent, over the prior year complementing the increase in
water sales. Sewer rates also remained the same as 2024. Fees for sanitation services increased
approximately $103,035 related to growth in the City. Recycling fees increased $18,192 from the prior
year. Stormwater fees increased 4.34 percent as anticipated due to additional customers.
9
Expenses for the Water and Wastewater System increased by $2,288,180 from the prior year primarily
due to the 65% wastewater treatment rate for Aiken County Public Service Authority that was effective
July 1, 2024. In 2025, the expenses for the Sanitation Services Fund showed an increase from the prior
year of $695,838 due to increased overtime for debris cleanup, professional services to backfill
vacancies, fuel costs, and vehicle maintenance. Increased expenses in the Stormwater Utility Fund were
$192,074 due to unexpected costs associated with hurricane cleanup, employee retention programs, and
outsourcing of large stormwater projects. A total of $24,500 was expended from the Savannah Bluff Lock
and Dam Fund. This expense for professional services was intended to assist the City and other
members of the consortium in the execution of a solution to improve the lock and dam that is in the best
interests of the parties directly affected by its operation.
Financial Analysis of the Government’s Funds
As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance-
related legal requirements.
Governmental Funds. The focus of the City’s governmental funds is to provide information on near-term
inflows, outflows, and balances of spendable resources. Such information is useful in assessing the
City’s financing requirements. In particular, unassigned fund balance may serve as a useful measure of a
government’s net resources available for discretionary use as they represent the portion of fund balance
that has not been limited for use by any of: an external party, the City itself, or a group or individual that
has been delegated authority to assign resources for use for particular purposes by the City Council.
At December 31, 2025, the City’s governmental funds reported combined fund balances of $34,013,736,
an increase of $3,271,601 from the prior year. The majority of this increase is attributable to the increase
in property tax revenue, hospitality and accommodations tax revenue, intergovernmental revenue/grants
(to include FEMA reimbursements), and revenue in the Savannah River Settlement Fund. The City
completed construction on the transfer station listed on Bill 956 in 2025, which generated income from the
escrow account held by Aiken County. Approximately 10.56 percent of this amount constitutes
unassigned fund balance, which is available for spending at the City’s discretion as described above.
Unassigned fund balance decreased by ($507,951) for the year due to the City’s responsibility to fund
costs related to the natural disasters prior to FEMA reimbursement. The remainder of the fund balance is
restricted, committed, or assigned to indicate that it is not available for new spending because of its use
for state victim’s assistance, fire division of public safety, capital projects to include those funded by
capital projects sales taxes, and special projects including Riverside Village, Tourism Grants issued by
the City, and capital projects allocated through SLFRF funding.
The General Fund is the chief operating fund of the City. At the end of the current fiscal year the
unassigned fund balance of the General Fund was $3,592,477, while total fund balance was $3,732,069.
As a measure of the General Fund’s liquidity, it may be useful to compare unassigned and total fund
balance to total fund expenditures. Unassigned fund balance represents 11.39 percent of total General
Fund expenditures, while total fund balance represents 11.83 percent of those same expenditures.
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The total fund balance of the City’s general fund decreased by ($998,761) during the current fiscal year.
The most significant factor in this net decrease is related to the increase in capital outlay and unexpected
expenses to clean up the devastation from Hurricane Helene. During the 2024 budget process, the City
decided to purchase capital expenditures outright instead of financing them over five years due to the
increase in interest rates. This decision carried over into the 2025 budget. In September of 2024, the City
was hit by a category 4 hurricane, which caused major damage city-wide, and these expenses will be
reimbursed by FEMA.
The ARPA Fund was added as a major fund in 2021 due to the receipt of the first tranche of funding
awarded to the City as part of the Act. The second tranche was received in 2022 and the City has
allocated these funds to respond to COVID-19 related impacts to include replacement of lost revenue. In
2025, the City was able to obligate 100 percent of the funding to approved projects as well as complete
about 99 percent of the projects these funds were allocated to. The last one percent will be completed in
2026. Due to the completion of the majority of the projects, the fund is no longer required to be reported
as a major fund. The Capital Projects Sales Tax IV Fund had an increase of $147,161 related to receiving
sales tax revenue from Aiken County for the construction of the Public Safety Headquarters and the
Downtown Safety Improvement projects listed in the referendum passed in 2018. The Capital Projects
Fund had a fund balance of $8,838,334, approximately about the same as the prior year due to the City’s
operating budget policy that states the audited unreserved fund balance of the general fund at year end
shall be transferred to the capital projects fund and the purchase of additional capital outlay and hurricane
related expenses. The Tax Increment Fund had an increase in fund balance of $1,544,288 due to the
increased collection of ad valorem property taxes resulting from growth in the tax increment district as
well as transferring only the amounts listed in the 2025 budget. These revenues are dedicated to debt
service and are to be transferred to the North Augusta Public Facilities Corporation Fund. Fund balance
for the North Augusta Public Facilities Corporation Fund decreased (6.64) percent from the prior year due
to the increase in general government expenses incurred in 2025 and the decrease in parking revenue
from the prior year due to a lump sum payment of parking revenue that was owed to the City from prior
years in 2024.
Fund balance for the City’s nonmajor governmental funds totaled $10,637,653 for 2025, an increase of
$3,074,770, primarily related to increased hospitality and accommodations taxes received in 2024. The
nonmajor governmental revenues that are dedicated towards debt service were transferred to the North
Augusta Public Facilities Corporation Fund.
Proprietary funds. The City’s proprietary funds provide the same type of information found in the
government-wide financial statements, but in more detail. Unrestricted net position of the water and
wastewater system, sanitation services, and stormwater utility at the end of the fiscal year totaled
$4,265,954. Total decrease in unrestricted net position was ($651,001). Other factors concerning the
finances of these funds have already been addressed in the discussion of the City’s business-type
activities.
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General Fund Budgetary Highlights
There were no differences between the original budget and the final budget for the fiscal year ending
December 31, 2025.
Current property tax revenues exceeded budget by approximately $72,000 due to a higher tax base than
originally estimated by Aiken and Edgefield Counties. This includes homestead exemption payment
placed in state shared revenue. Additionally, revenues for licenses and building permits exceeded
budgeted revenues by approximately $805,000. This reflects a continued increase in residential and
commercial construction activity across the City. Charges for services reflected a positive variance with
budgeted revenues primarily due to large sports tournaments not projected during the preparation of the
budget. Miscellaneous revenues exceeded budget by approximately $890,000 reflective of receipt of
unbudgeted other income items to include sales of City assets. Intergovernmental revenues exceeded
budget by approximately $1,243,000 (less the homestead exemption under state shared revenue) due to
increases in state driven revenue, grants for public safety officers, along with FEMA grants and
reimbursements. Fines and forfeitures did not meet budgeted expectations, however, were offset by
under expenditure of remittances to the state for fees and fines.
The over-expenditures for the General Government and Public Safety were due to the unexpected
expenses related to Hurricane Helene cleanup costs and overtime/additional payments to employees
working relief efforts. Parks, Recreation, and Tourism over-expenditures were primarily due to the
increase of large athletic tournaments. Public Works expenditures were under budget due to savings
resulting from vacant positions and savings on auto operating costs.
Capital Asset and Debt Administration
Capital Assets. The City’s investment in capital assets for its governmental and business-type activities
as of December 31, 2025, amounts to $254,455,782 (net of accumulated depreciation). This investment
in capital assets includes land, land improvements, rights-of-way and easements, buildings, machinery
and equipment, furniture and fixtures, infrastructure, system improvements, PSA capital, and construction
in progress. The total increase in capital assets for the current fiscal year was approximately $7.6 million,
3.08 percent. Additional information on the City’s capital assets can be found in Note 5 of this report.
City of North Augusta's Capital Assets
(net of depreciation)2025 2024 2025 2024 2025 2024
Land 10,371,621$ 10,330,391$ 824,058$ 824,058$ 11,195,679$ 11,154,449$
Land improvements 13,710,991 11,448,361 70,890 74,436 13,781,881 11,522,797
Right-of-way and easements 4,936,657 4,651,327 62,760 62,760 4,999,417 4,714,087
Buildings 103,721,669 83,555,674 19,352,402 18,056,650 123,074,071 101,612,324
Machinery and equipment 1,938,199 1,870,664 1,390,099 1,426,002 3,328,298 3,296,666
Furniture and fixtures 181,566 221,133 - - 181,566 221,133
Vehicles 4,426,932 3,888,387 3,354,572 2,804,624 7,781,504 6,693,011
Infrastructure 15,999,579 15,501,757 - - 15,999,579 15,501,757
System improvements - - 71,643,335 63,939,305 71,643,335 63,939,305
PSA capital - - 1,360,644 1,422,625 1,360,644 1,422,625
Construction in progress -24,760,525 425,956 1,108,560 425,956 25,869,085
Right-to-use subscrtiptions 420,316 560,421 263,536 351,381 683,852 911,802
Total Capital Assets 155,707,530$ 156,788,640$ 98,748,252$ 90,070,401$ 254,455,782$ 246,859,041$
Governmental Activities Business-type Activities Total
Major capital asset events during the current fiscal year included the following:
Various projects related to streets, sidewalks, and storm drainage totaling $3,058,268.
Nearly $1,250,000 of water and sewer capital assets were added by developers and contributed
to the City.
Approximately $1,400,000 in improvements to SRP Park Stadium, Animal Shelter, Public Safety
Headquarters and Riverview Park Activities Center.
12
Land Improvements including additions to the boat dock, parks and greenway totaling
$3,225,241.
Purchase of various vehicles, machinery, and equipment for all departments totaling $3,329,551.
Completion of a transfer station at the recycling center in the amount of $1,962,076.
Water and sewer related infrastructure improvements totaling $6,497,416.
Long-term Debt. At the end of the current fiscal year, the City had total bonded debt outstanding of
$80,918,000. The City’s debt represents bonds secured solely by specified revenue sources.
City of North Augusta's Outstanding Debt
2025 2024 2025 2024 2025 2024
Revenue bonds 64,760,000$ 65,740,000$ 12,660,000$ 13,804,000$ 77,420,000$ 79,544,000$
General obligation bonds 3,498,000 5,216,000 - - 3,498,000 5,216,000
Financed purchases payable 581,279 1,252,799 339,446 739,819 920,725 1,992,618
Subscriptions payable 405,557 527,178 264,768 343,447 670,325 870,625
Total Outstanding Debt 69,244,836$ 72,735,977$ 13,264,214$ 14,887,266$ 82,509,050$ 87,623,243$
Governmental Activities Buisness-type Activities Total
The City’s total debt outstanding decreased by ($5,114,193) during the current fiscal year. This net
decrease was attributed to scheduled debt service payments during 2025.
The City maintains “Aa3” rating from Moody’s Investors Service for the taxable Series 2017B revenue
bond reported in governmental activities.
The City’s revenue bonds for business type activities were private issues and therefore not rated. The
City’s debt coverage ratio decreased to 1.76 in 2025. The City’s bond covenants require coverage of
1.25 to issue additional bonds. Please refer to the pledged-revenue bond coverage table at the back of
this report for additional information regarding the City’s revenue bond coverage.
Other long-term debt at the end of the current fiscal year included $920,725 in financed purchases
payable for equipment and vehicles, $670,325 in subscriptions payable for information technology
arrangements, along with other long-term liabilities related to compensated absences as well as net
pension liability totaled $26,885,555 (not presented in the table above).
Additional information regarding the City’s lease obligations and long-term debt and other long-term
liabilities can be found in Notes 6 and 7 of this report.
State statutes limit the amount of general obligation debt a governmental entity may issue, without a
referendum, to 8 percent of its total assessed valuation. The current debt limitation for the City is
$16,306,331. Additional information is available on the City’s legal debt margin in the statistical section of
this report.
Economic Factors and Next Year’s Budgets and Rates
2025 has continued to be a year of growth in the City. Several residential and commercial construction
projects have started in the City and are attracting new citizens to North Augusta. The participation in
recreational activities has increased along with an uptick in tourism.
The following economic factors currently affect the City and were considered in developing the 2026 fiscal
year budget:
During the past ten years, Aiken County’s unemployment rate has fluctuated from 5.9 percent in
2015, decreasing to 3.0 percent during 2023, and then increasing to 4.3 percent for 2025.
13
The value of a mill has increased over 70 percent during the past ten years, reflective of the
growth in the City’s tax digest. The millage rate for the 2025 budget was 77.50 with 3.80 mills
dedicated to the Capital Projects Fund. The millage rate for preparing the 2026 budget includes
an increase of 2 mills at 79.50 with 3.80 mills dedicated to the Capital Projects Fund as part of an
effort to advance its capital improvement program across all City departments.
Implementation of 3 percent cost of living increases as well as funding all positions on-grade
adjustments.
Increases are expected in health insurance premiums, as well as pension and other employee
benefit costs.
Income producing activities to include recreational sports, facility rentals, and tournaments to be
included with minimal budget impact.
Rates increased for both residential and commercial water/wastewater and sanitation customers
as costs to provide these services continues to rise. Rates will remain stable for stormwater
activities.
All of these factors were considered in preparing the City’s general fund budget for the 2026 fiscal year.
Amounts available for appropriation total $28.48 million, which is an increase of 4.05 percent, over the final
prior fiscal year’s budget of $27.37 million.
The City’s budgetary balance is expected to remain relatively stable during 2026, with opportunities to
bring non-critical projects online.
As for the City’s business type activities, we expect future results to remain stable in 2026. Good business
practices require these services to charge fees that sufficiently recover costs associated with providing the
service. The City continues to maintain a competitive rate structure.
Additional information related to the local economy can be found in the transmittal letter of this report.
Request for Information
The financial report is designed to provide a general overview of the City’s finances for all those with an
interest in the government’s finances. Questions concerning any of the information provided in this report
or requests for additional financial information should be addressed to the Finance Department, City of
North Augusta, P.O. Box 6400, North Augusta, SC 29861-6400.
14
Primary Government
Governmental Business-type
Activities Activities Total
ASSETS
Cash and cash equivalents $ 35,021,471 $ 11,682,146 $ 46,703,617
Taxes receivable 78,041 - 78,041
Accounts receivable, net of allowances 646,095 2,752,862 3,398,957
Due from other governments 560,303 - 560,303
Lease receivable 984,109 - 984,109
Inventory - 264,117 264,117
Restricted cash and cash equivalents - 8,954,291 8,954,291
Capital assets:
Non-depreciable 15,308,278 1,312,774 16,621,052
Depreciable, net of accumulated depreciation and amortization 140,399,252 97,441,459 237,840,711
Total assets 192,997,549 122,407,649 315,405,198
DEFERRED OUTFLOWS OF RESOURCES
Pension 3,131,384 1,198,829 4,330,213
Total deferred outflows of resources 3,131,384 1,198,829 4,330,213
LIABILITIES
Accounts payable 1,619,625 905,533 2,525,158
Retainage payable 41,250 942,322 983,572
Accrued liabilities 294,547 18,408 312,955
Unearned revenues 151,447 291,612 443,059
Accrued interest payable 545,704 - 545,704
Other liabilities 250,210 - 250,210
Payable from restricted resources:
Accrued interest payable - 39,697 39,697
Customer deposits - 700,097 700,097
Long-term liabilities:
Due within one year 5,745,935 2,459,336 8,205,271
Due in more than one year 66,087,223 11,832,266 77,919,489
Other long-term liabilities due in more than one year:
Net pension liability 14,951,010 8,318,835 23,269,845
Total liabilities 89,686,951 25,508,106 115,195,057
DEFERRED INFLOWS OF RESOURCES
Pension 1,394,965 497,870 1,892,835
Deferred lease receipts 841,973 - 841,973
Total deferred inflows of resources 2,236,938 497,870 2,734,808
NET POSITION
Net investment in capital assets 86,421,444 84,547,697 170,969,141
Restricted for:
Victims assistance 139,592 - 139,592
Public safety - fire division 165,230 - 165,230
Operations - Savannah Bluff Lock and Dam - 532,657 532,657
Capital projects 2,458,133 - 2,458,133
Debt service - 8,254,194 8,254,194
Special projects:
Riverside Village 15,790,474 - 15,790,474
Tourism grants 670,071 - 670,071
SLFRF 1,077,736 - 1,077,736
DOE settlement 939,763 - 939,763
Unrestricted (3,457,399) 4,265,954 808,555
Total net position $ 104,205,044 $ 97,600,502 $ 201,805,546
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
STATEMENT OF NET POSITION
DECEMBER 31, 2025
The accompanying notes are an integral part of these financial statements.
15
Program RevenuesOperating CapitalCharges forGrants andGrants and Governmental Business-typeFunctions/ProgramsExpensesServicesContributions Contributions ActivitiesActivitiesTotalPrimary government: Governmental activities: General government $ 11,631,941 $ 9,374,411 $ 4,534,813 $- $ 2,277,283 $- $ 2,277,283 Public safety 13,436,184 1,129,327 241,350 - (12,065,507) - (12,065,507) Public works4,241,785 218,029 - - (4,023,756) - (4,023,756) Parks, recreation and tourism6,432,577 2,459,985 - - (3,972,592) - (3,972,592) Interest on long-term debt3,187,678 - - - (3,187,678) - (3,187,678) Total governmental activities 38,930,165 13,181,752 4,776,163 - (20,972,250) - (20,972,250) Business-type activities: Water and wastewater13,767,312 13,569,242 4,512,277 1,240,779 - 5,554,986 5,554,986 Sanitation5,299,855 4,732,700 - - - (567,155) (567,155) Stormwater utility1,262,679 1,102,997 - 1,145,498 - 985,816 985,816 Savannah Bluff Lock and Dam24,500 - - - - (24,500) (24,500) Total business-type activities 20,354,346 19,404,939 4,512,277 2,386,277 - 5,949,147 5,949,147 Total primary government $ 59,284,511 $ 32,586,691 $ 9,288,440 $ 2,386,277 (20,972,250) 5,949,147 (15,023,103) General revenues:Ad valorem property taxes15,774,788 - 15,774,788 Capital projects sales tax 2,606,567 - 2,606,567 Local hospitality and accommodation tax 3,495,366 - 3,495,366 Interest earned2,101,130 761,994 2,863,124 Gain on sale of capital assets- 32,769 32,769 Miscellaneous4,364,867 394,473 4,759,340 Transfers(789,345) 789,345 - Total general revenues and transfers27,553,373 1,978,581 29,531,954 Change in net position6,581,123 7,927,728 14,508,851 Net position, beginning of year97,623,921 89,672,774 187,296,695 Net position, end of year$ 104,205,044 $ 97,600,502 $ 201,805,546 Net (Expenses) Revenues and Changes in Net PositionPrimary GovernmentCITY OF NORTH AUGUSTA, SOUTH CAROLINASTATEMENT OF ACTIVITIES FOR THE YEAR ENDED DECEMBER 31, 2025The accompanying notes are an integral part of these financial statements. 16
Capital Projects CapitalTax North AugustaNonmajorTotalGeneral Sales Tax IV Projects Increment Public Facilities Governmental GovernmentalFund Fund Fund Fund Corporation Fund Funds FundsASSETSCash and cash equivalents 4,755,106$ 2,399,383$ 8,839,534$ 2,121,462$ 6,203,036$ 10,702,950$ 35,021,471$ Taxes receivable, net of allowances 78,041 - - - - - 78,041 Accounts receivable510,823 - - - 130,521 4,751 646,095 Intergovernmental receivables 491,394 - - - - 68,909 560,303 Lease receivable984,109 - - - - - 984,109 Total assets 6,819,473 2,399,383 8,839,534 2,121,462 6,333,557 10,776,610 37,290,019 LIABILITIES Accounts payable 1,582,376 - 1,200 - 7,472 28,577 1,619,625 Retainage payable - 41,250 - - - - 41,250 Accrued liabilities 294,154 - - - - 393 294,547 Unearned revenues 41,460 - - - - 109,987 151,447 Other accrued liabilities250,210 - - - - - 250,210 Total liabilities 2,168,200 41,250 1,200 - 7,472 138,957 2,357,079 DEFERRED INFLOWS OF RESOURCES Unavailable revenue - property taxes 77,231 - - - - - 77,231 Deferred lease receipts841,973- - - - - 841,973 Total deferred inflows of resources 919,204 - - - - - 919,204 FUND BALANCESRestricted: Capital projects - 2,358,133 - - - 100,000 2,458,133 Victim's assistance 139,592 - - - - - 139,592 Public safety - fire division - - - - - 165,230 165,230 Special projects - - - 2,121,462 6,326,085 10,030,497 18,478,044 Committed: Capital projects - - 8,825,340 - - 331,517 9,156,857 Parks, recreation and tourism - - 12,994 - - - 12,994 Assigned: Capital projects - - - - - 10,409 10,409 Unassigned 3,592,477 - - - - - 3,592,477 Total fund balances3,732,069 2,358,133 8,838,334 2,121,462 6,326,085 10,637,653 34,013,736 Total liabilities, deferred inflows of resources, and fund balances 6,819,473$ 2,399,383$ 8,839,534$ 2,121,462$ 6,333,557$ 10,776,610$ 37,290,019$ CITY OF NORTH AUGUSTA, SOUTH CAROLINA BALANCE SHEET GOVERNMENTAL FUNDSDECEMBER 31, 2025The accompanying notes are an integral part of these financial statements. 17
Fund balances, end of year 34,013,736$
155,707,530
77,231
3,131,384
(1,394,965)
Compensated absences $ (2,588,322)
Installment purchase revenue bonds (68,258,000)
Financed purchases payable (581,279)
Subscription liability payable (405,557)
Net pension liability (14,951,010)
Total long-term liabilities (86,784,168)
(545,704)
Net position of governmental activities, end of year 104,205,044$
RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET
TO THE STATEMENT OF NET POSITION
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
Amounts reported for governmental activities in the Statement of Net Position are different because:
Interest on long-term debt is not accrued in governmental funds, but rather is recognized as an
expenditure when due.
DECEMBER 31, 2025
Capital assets used in governmental activities are not financial resources and, therefore, are not reported
in the funds.
Other long-term assets are not available to pay for current period expenditures and, therefore, are
reported as unavailable revenue in the funds.
Long-term liabilities are not due and payable in the current period and, therefore, are not reported in the
funds.
Deferred outflows of resources related to the recording of the net pension liability are recognized as
expense over time and, therefore, are not reported in the funds.
Deferred inflows of resources related to the recording of the net pension liability are not due and payable
in the current period and, therefore, are not reported in the funds.
The accompanying notes are an integral part of these financial statements.
18
Capital Projects CapitalTax North Augusta(Previously Major)NonmajorTotalGeneral Sales Tax IV Projects Increment Public Facilities ARPAGovernmental GovernmentalFund Fund Fund Fund Corporation Fund Fund Funds FundsRevenues:Ad valorem property taxes 11,065,952$ -$ 617,160$ 4,064,032$ -$ -$ -$ 15,747,144$ Sales taxes - 2,606,567 - - - - - 2,606,567 Local hospitality and accommodations taxes - - - - - - 3,495,366 3,495,366 Licenses and permits 9,374,411 - - - - - - 9,374,411 Intergovernmental 3,443,963 - - - 234,051 - 1,332,200 5,010,214 Charges for services 1,873,641 - - - 760,092 - 101,160 2,734,893 Fines and forfeitures 1,072,448 - - - - - - 1,072,448 Interest earnings 196,110 68,442 296,486 36,393 139,343 - 1,364,356 2,101,130 Miscellaneous 2,021,829 - 353,223 - - - 1,755,764 4,130,816 Total revenues 29,048,354 2,675,009 1,266,869 4,100,425 1,133,486 - 8,048,846 46,272,989 Expenditures:Current: General government 11,425,944 - 198,767 - 401,775 - 347,852 12,374,338 Public safety 12,020,595 6769,669 - - - 232,799 12,323,130 Public works1,960,349 163,706- - - - 559,709 2,683,764 Parks, recreation and tourism 4,295,261 - 179,974 - - - 933,077 5,408,312 Capital outlay1,175,563 594,227 585,204 - - - 377,337 2,732,331 Debt service:Principal retirement 624,283 1,718,000 168,858 - 980,000 - - 3,491,141 Interest 39,736 51,848 - - 3,107,443 - - 3,199,027 Total expenditures 31,541,731 2,527,848 1,202,472 - 4,489,218 - 2,450,774 42,212,043 Excess (deficiency) of revenues over (under) expenditures (2,493,377) 147,161 64,397 4,100,425 (3,355,732) - 5,598,072 4,060,946 Other financing sources (uses): Transfers in 1,552,676 - - - 2,906,137 - 446 4,459,259 Transfers out (58,060) - (110,659) (2,556,137) - - (2,523,748) (5,248,604) Total other financing sources (uses), net 1,494,616 - (110,659) (2,556,137) 2,906,137 - (2,523,302) (789,345) Net change in fund balances (998,761) 147,161 (46,262) 1,544,288 (449,595) - 3,074,770 3,271,601 Fund balances, beginning of year, as previously reported4,730,830 2,210,972 8,884,596 577,174 6,775,680 1,019,929 6,542,954 30,742,135 Adjustment - change within reporting entity - - - - - (1,019,929) 1,019,929 - Fund balances, beginning of year as adjusted4,730,830 2,210,972 8,884,596 577,174 6,775,680 - 7,562,883 30,742,135 Fund balances, end of year3,732,069$ 2,358,133$ 8,838,334$ 2,121,462$ 6,326,085$ -$ 10,637,653$ 34,013,736$ CITY OF NORTH AUGUSTA, SOUTH CAROLINASTATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS FOR THE YEAR ENDED DECEMBER 31, 2025The accompanying notes are an integral part of these financial statements.19
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED DECEMBER 31, 2025
Net change in fund balances - total governmental funds $ 3,271,601
Capital outlays $ 5,155,052
Depreciation expense (6,236,162)
(1,081,110)
27,644
3,491,141
Compensated absences $ (177,488)
Accrued interest on long-term debt 11,349
Net pension liability 1,037,986
871,847
Change in net position of governmental activities $ 6,581,123
Some expenses reported in the Statement of Activities do not require the use of current financial
resources and, therefore, are not reported as expenditures in governmental funds.
Governmental funds report capital outlays as expenditures. However, in the Statement of Activities the
cost of those assets is allocated over their estimated useful lives and reported as depreciation expense.
This is the amount by which depreciation exceeded capital outlays in the current period.
Revenues in the Statement of Activities that do not provide current financial resources are not reported
as revenues in the funds.
The issuance of long-term debt provides current financial resources to governmental funds, while the
repayment of the principal of long-term debt consumes the current financial resources of governmental
funds. Neither transaction, however, has any effect on net position. Also, governmental funds report the
effect of premiums, discounts, and similar items when debt is first issued, whereas these amounts are
deferred and amortized in the Statement of Activities. This amount is the net effect of these differences
in the treatment of long-term debt and related items.
Amounts reported for governmental activities in the statement of activities are different because:
The accompanying notes are an integral part of these financial statements.
20
Wastewater Sanitation Savannah Bluff
System Services Fund Lock and Dam
ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 6,507,871 $ 2,932,886 $ 1,708,732 $ 532,657 $ 11,682,146
Accounts receivable, net of allowances 2,718,390 34,472 - - 2,752,862
Inventory 264,117 - - - 264,117
Restricted cash and cash equivalents 8,954,291 - - - 8,954,291
Total current assets 18,444,669 2,967,358 1,708,732 532,657 23,653,416
NONCURRENT ASSETS
Capital assets:
Non-depreciable 797,254 330,544 184,976 - 1,312,774
Depreciable, net of accumulated
depreciation and amortization 79,597,063 6,617,056 11,227,340 - 97,441,459
Total noncurrent assets 80,394,317 6,947,600 11,412,316 - 98,754,233
Total assets 98,838,986 9,914,958 13,121,048 532,657 122,407,649
DEFERRED OUTFLOWS OF RESOURCES
Pensions 596,213 507,188 95,428 - 1,198,829
Total deferred outflows of resources 596,213 507,188 95,428 - 1,198,829
LIABILITIES
CURRENT LIABILITIES
Accounts payable 792,948 95,853 16,732 - 905,533
Retainage payable 942,322 - - - 942,322
Accrued liabilities 6,078 11,239 1,091 - 18,408
Customer deposits 700,097 - - - 700,097
Compensated absences 490,098 393,754 143,536 - 1,027,388
Unearned revenue 291,612 - - - 291,612
Accrued interest payable 39,507 - 190 - 39,697
Current portion of revenue bonds payable 1,165,000 - -- 1,165,000
Current portion of financed purchases payable 29,557 144,678 9,411 - 183,646
Current portion of subscriptions payable 56,219 21,955 5,128 - 83,302
Total current liabilities 4,513,438 667,479 176,088 - 5,357,005
NONCURRENT LIABILITIES
Revenue bonds payable, net of current portion 11,495,000 - - - 11,495,000
Financed purchases payable, net of current portion 30,596 125,204 - - 155,800
Subscriptions payable net of current portion 122,709 47,642 11,115 - 181,466
Net pension liability 4,321,486 3,385,442 611,907 - 8,318,835
Total noncurrent liabilities 15,969,791 3,558,288 623,022 - 20,151,101
Total liabilities 20,483,229 4,225,767 799,110 - 25,508,106
DEFERRED INFLOWS OF RESOURCES
Pensions 229,352 215,295 53,223 - 497,870
Total deferred inflows of resources 229,352 215,295 53,223 - 497,870
NET POSITION
Net investment in capital assets 66,552,914 6,608,121 11,386,662 - 84,547,697
Restricted for debt service 8,254,194 - - - 8,254,194
Restricted for operations - - - 532,657 532,657
Unrestricted 3,915,510 (627,037) 977,481 - 4,265,954
Total net position $ 78,722,618 $ 5,981,084 $ 12,364,143 $ 532,657 $ 97,600,502
Stormwater
Utility Fund
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
DECEMBER 31, 2025
Enterprise Fund
Nonmajor
Enterprise Funds
Total
Water and
The accompanying notes are an integral part of these financial statements.
21
Wastewater Sanitation Savannah Bluff
System Services Fund Lock and Dam
OPERATING REVENUES
Charges for services and fees $ 13,569,242 $ 4,603,637 $ 1,102,997 $- $ 19,275,876
Sale of recyclables - 129,063 - - 129,063
Miscellaneous 310,965 61,608 21,900 - 394,473
Total operating revenues 13,880,207 4,794,308 1,124,897 - 19,799,412
OPERATING EXPENSES
Finance 772,252 - - - 772,252
Administration 594,751 - - - 594,751
Operations and maintenance 8,464,157 3,354,242 731,110 24,500 12,574,009
Production and treatment 1,829,902 - - - 1,829,902
Material recovery facility - 1,100,241 - - 1,100,241
Depreciation and amortization 1,863,504 826,305 531,097 - 3,220,906
Total operating expenses 13,524,566 5,280,788 1,262,207 24,500 20,092,061
Operating income (loss)355,641 (486,480) (137,310) (24,500) (292,649)
NONOPERATING REVENUES (EXPENSES)
Interest income 569,282 113,563 56,410 22,739 761,994
Gain on sale of property 23,010 9,759 - - 32,769
Interest expense (242,746) (19,067) (472) - (262,285)
Intergovernmental 4,512,277 - - - 4,512,277
Total nonoperating revenues, net 4,861,823 104,255 55,938 22,739 5,044,755
Income (loss) before capital
contributions and transfers 5,217,464 (382,225) (81,372) (1,761) 4,752,106
CAPITAL CONTRIBUTIONS 1,240,779 - 1,145,498 - 2,386,277
TRANSFERS
Transfers in 157,853 2,140,225 83,476 - 2,381,554
Transfers out (1,122,051) (428,052) (42,106) - (1,592,209)
Total transfers (964,198) 1,712,173 41,370 - 789,345
Change in net position 5,494,045 1,329,948 1,105,496 (1,761) 7,927,728
Total net position, beginning of year 73,228,573 4,651,136 11,258,647 534,418 89,672,774
Total net position, end of year $ 78,722,618 $ 5,981,084 $ 12,364,143 $ 532,657 $ 97,600,502
Utility Fund
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
FOR THE YEAR ENDED DECEMBER 31, 2025
STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN NET POSITION
PROPRIETARY FUNDS
Stormwater
Nonmajor
Enterprise Fund
Total
Enterprise Funds
Water and
The accompanying notes are an integral part of these financial statements.
22
Wastewater Sanitation Savannah Bluff
System Services Fund Lock and Dam
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers and users $ 13,073,374 $ 4,785,705 $ 1,124,897 $- $ 18,983,976
Payments to suppliers (8,546,273) (2,156,414) (289,588) (24,500) (11,016,775)
Payments to employees (3,306,560) (2,588,672) (484,735) - (6,379,967)
Net cash provided by
(used in) operating activities 1,220,541 40,619 350,574 (24,500) 1,587,234
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers in 157,853 2,140,225 83,476 - 2,381,554
Transfers out (1,122,051) (428,052) (42,106) - (1,592,209)
Intergovernmental receipts 4,512,277 - - - 4,512,277
Net cash provided by noncapital
financing activities 3,548,079 1,712,173 41,370 - 5,301,622
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Purchases of capital assets (6,036,109) (2,173,315) (364,705) - (8,574,129)
Proceeds from the sale of capital assets 29,481 9,759 - - 39,240
Principal paid on revenue bonds (1,144,000) - - - (1,144,000)
Principal paid on financed purchases (64,858) (293,962) (41,553) - (400,373)
Principal paid on subscriptions (53,027) (20,792) (4,860) - (78,679)
Interest paid (247,918) (19,067) (745) - (267,730)
Net cash used in capital
and related financing activities (7,516,431) (2,497,377) (411,863) - (10,425,671)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received 569,282 113,563 56,410 22,739 761,994
Net cash provided by investing activities 569,282 113,563 56,410 22,739 761,994
Net change in cash and cash equivalents (2,178,529) (631,022) 36,491 (1,761) (2,774,821)
Cash and cash equivalents, beginning of year 17,640,691 3,563,908 1,672,241 534,418 23,411,258
Cash and cash equivalents, end of year $ 15,462,162 $ 2,932,886 $ 1,708,732 $ 532,657 $ 20,636,437
Classified as:
Cash and cash equivalents $ 6,507,871 $ 2,932,886 $ 1,708,732 $ 532,657 $ 11,682,146
Restricted assets, cash 8,954,291 - - - 8,954,291
$ 15,462,162 $ 2,932,886 $ 1,708,732 $ 532,657 $ 20,636,437
(Continued)
Utility Fund Enterprise Funds
Water and
Stormwater
Enterprise Fund
Total
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2025
Nonmajor
The accompanying notes are an integral part of these financial statements.
23
Wastewater Sanitation Savannah Bluff
System Services Fund Lock and Dam
RECONCILIATION OF OPERATING INCOME (LOSS)
TO NET CASH PROVIDED BY (USED IN)
OPERATING ACTIVITIES
Operating income (loss)$ 355,641 $ (486,480) $ (137,310) $ (24,500) $ (292,649)
Adjustments to reconcile operating income (loss) to
net cash provided by (used in) operating activities:
Depreciation and amortization 1,863,504 826,305 531,097 - 3,220,906
Changes in assets and liabilities:
Increase in accounts receivable (806,833) (8,603) - - (815,436)
Decrease in inventory 59,174 - - - 59,174
Increase in deferred outflows of resources (123,000) (95,989) (21,287) - (240,276)
Increase (decrease) in accounts payable 7,342 (77,363) (15,011) - (85,032)
Increase (decrease) in accrued liabilities (5,997) 3,896 19,952 - 17,851
Increase in customer deposits 49,463 - - - 49,463
Decrease in unearned revenue (23,515) - - - (23,515)
Decrease in net pension liability (163,190) (127,352) (28,243) - (318,785)
Increase in deferred inflows or resources 7,952 6,205 1,376 - 15,533
Net cash provided by
(used in) operating activities $ 1,220,541 $ 40,619 $ 350,574 $ (24,500) $ 1,587,234
SCHEDULE OF NON-CASH CAPITAL AND
RELATED FINANCING ACTIVITIES
Contributions of capital assets $ 1,240,779 $- $ 1,145,498 $- $ 2,386,277
Increase in retainage payable 942,322 - - - 942,322
$ 2,183,101 $- $ 1,145,498 $- $ 3,328,599
Utility Fund Enterprise Funds
Water and
PROPRIETARY FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2025
Stormwater
Nonmajor
Enterprise Fund
Total
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
STATEMENT OF CASH FLOWS
24
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2025
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Description of Government-wide Financial Statements
The government-wide financial statements (i.e., the Statement of Net Position and the Statement of
Activities) report information on all of the activities of the primary government and its component
units. Governmental activities, which normally are supported by taxes, intergovernmental revenues,
and other nonexchange transactions, are reported separately from business-type activities, which
rely to a significant extent, on fees and charges to external customers for support. Likewise, the
primary government is reported separately from certain legally separate component units for which
the primary government is financially accountable.
B. Financial Reporting Entity
The City of North Augusta, South Carolina (the “City”) (the primary government) was officially
incorporated on April 11, 1906. The City has a Mayor-Council form of government. City Council is
composed of seven members elected at large on a partisan basis. City Council is the legally
constituted law-making and policy-making body for the City.
The reporting entity of the City, for financial purposes, includes all the funds relevant to the
operations of the City of North Augusta, South Carolina. The City is also required to include in its
financial statements those separately administered organizations (component units) with which the
City has significant operation or financial relationships. The criteria for including organizations as
component units within the City’s reporting entity include whether the organization is legally
separate and whether the City holds the corporate powers, whether the City appoints a majority of
the organization’s board and is able to impose its will, and the ability of the organization to impose a
financial benefit or burden on the City (“financial accountability”).
Blended Component Unit – The North Augusta Public Facilities Corporation (the “Corporation”) was
established by the City on December 2, 2014, primarily to issue debt related to construction and
maintenance of buildings that are to be leased by the City. The Corporation is a legally separate
nonprofit organization. The Corporation is governed by a five-member board of directors comprised
of the City’s Mayor and four City citizens. The City’s Clerk and Finance Director serve as the
respective Secretary and Treasurer of the Corporation. The City has determined it is financially
accountable for the Corporation, and the Corporation’s outstanding debt is expected to be repaid
entirely with resources of the City. Based on these factors, management has determined the
Corporation is appropriately presented as a blended component unit in the City’s financial
statements. The Corporation is reported as a debt service fund and does not issue separate
financial statements.
25
NOTES TO FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
C. Measurement Focus, Basis of Accounting, and Financial Statement
Presentation
Government-wide and Fund Financial Statements – The City government-wide financial statements
include a Statement of Net Position and a Statement of Activities. These statements present
summaries of governmental and business-type activities for the City accompanied by a total
column. Governmental activities, which normally are supported by taxes and intergovernmental
revenues, are reported separately from business-type activities, which rely to a significant extent,
on fees and charges for support.
The Statement of Activities demonstrates the degree to which the direct expenses of a given
function or segment are offset by program revenues. Direct expenses are those that are clearly
identifiable with a specific function or segment. Program revenues include 1) charges to customers
or applicants who purchase, use or directly benefit from goods, services, or privileges provided by a
given function or segment and 2) grants and contributions that are restricted to meeting the
operational or capital requirements of a particular function or segment. Taxes and other items not
properly included among program revenues are reported instead as general revenues. Separate
financial statements are provided for governmental funds and proprietary funds. Major individual
funds are reported as separate columns in the fund financial statements.
The government-wide financial statements are presented on an economic resources measurement
focus and the accrual basis of accounting. Accordingly, all of the City’s assets and liabilities,
including capital assets and subscription assets, as well as infrastructure assets and long-term
liabilities, are included in the accompanying Statement of Net Position. The Statement of Activities
presents changes in net position. Under the accrual basis of accounting, revenues are recognized
in the period in which they are earned while expenses are recognized in the period in which the
liability is incurred.
Governmental fund financial statements are reported using the current financial resources
measurement focus and the modified accrual basis of accounting. Revenues are recognized as
soon as they are both measurable and available. Revenues are considered to be available when
they are collectible within the current period or soon enough thereafter to pay liabilities of the
current period. For this purpose, the City considers revenues to be available if they are collected
within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a
liability is incurred, as under accrual accounting. However, debt service expenditures, as well as
expenditures related to compensated absences and claims and judgments, are recorded only when
payment is due.
26
NOTES TO FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
C. Measurement Focus, Basis of Accounting, and Financial Statement
Presentation (Continued)
The primary revenue sources, which have been treated as susceptible to accrual by the City, are
property tax, sales tax, intergovernmental revenues and other taxes. Only the portion of special
assessments receivable due within the current fiscal period is considered to be susceptible to
accrual as revenue of the current period. All other revenue items are considered to be measurable
and available only when cash is received by the City.
The City reports the following major governmental funds:
General Fund – This is the City’s general operating fund. It accounts for all financial resources,
except those required to be accounted for in another fund.
Capital Projects Sales Tax IV Fund – This fund is used to account for the receipt and
disbursement of money from the county-wide capital project sales tax.
Capital Projects Fund – This fund is used to account for the acquisition and construction of
major capital items other than those financed by proprietary funds and trust funds.
Tax Increment Fund – This fund is used to account for the receipt of property taxes assessed
and levied in the tax increment financing district.
North Augusta Public Facilities Corporation Fund – This fund represents the activities of the
North Augusta Public Facilities Corporation, a blended component unit, as previously discussed
at the beginning of Note 1.
Proprietary funds are accounted for using the economic resources measurement focus and the
accrual basis of accounting. Accordingly, all assets and liabilities (whether current or non-current)
are included on the Statement of Net Position. The Statement of Revenues, Expenses, and
Changes in Net Position present increases (revenues) and decreases (expenses) in total net
position. Under the accrual basis of accounting, revenues are recognized in the period in which they
are earned while expenses are recognized in the period in which the liability is incurred.
27
NOTES TO FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
C. Measurement Focus, Basis of Accounting, and Financial Statement
Presentation (Continued)
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering
goods in connection with a proprietary fund’s principal ongoing operations. Operating expenses for
the proprietary 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 nonoperating revenues and expenses.
For the City’s proprietary funds, 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. The City reports the following major
proprietary funds:
Water and Wastewater System Fund – This fund is used to account for waterworks and
wastewater system operations that are financed and operated in a manner similar to private
business enterprises.
Sanitation Services Fund – This fund is used to account for sanitation and recycling operations
that are financed and operated in a manner similar to private business enterprises.
Stormwater Utility Fund – This fund is used to account for improvements to stormwater runoff
infrastructure that are financed and operated in a manner similar to private business
enterprises.
Interfund Transactions – Interfund transactions consisting of identified services performed for other
funds or costs billed to other funds are treated as expenditures in the fund receiving the services
and as a reimbursement reducing expenditures in the fund performing the service. Outstanding
balances resulting from transactions between funds are reported as “due to/due from other funds.”
Any residual balances between the governmental and the business-type activities are reported on
the government-wide financial statements as “internal balances.”
Estimates – The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America (U.S. GAAP) requires management to make
estimates and assumptions that affect certain reported amounts and disclosures.
28
NOTES TO FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
D. Budgets and Budgetary Accounting
The City follows these procedures in establishing the budgetary data reflected in the financial
statements.
Prior to October 1, the City Administrator submits to the City Council a proposed operating
budget for the fiscal year commencing the following January 1. The operating budget includes
proposed expenditures and expenses and the means of financing them.
Public hearings are conducted to obtain taxpayer comments.
Prior to January 1, the budget is legally enacted through passage of an ordinance.
Transfer of budgeted amounts between functional areas must be approved by the City
Council. However, the City Administrator can amend the budget at the line item or department
level, within a functional area, not to exceed $5,000. Management can also over-expend
appropriations, with the City Administrator’s approval, at the line item and department level, as
long as the total expenditures or expenses do not exceed appropriations of the functional
area.
Formal budgetary integration is employed as a management control device. A budget is
legally adopted annually for the General Fund on a basis consistent with U.S. GAAP.
Annual budgets are not adopted for the Special Revenue Funds or the Capital Projects
Funds. These funds budget on a project or activity basis instead of an annual operating cycle
basis. Budgets for the enterprise funds are legally adopted annually on a basis consistent with
U.S. GAAP except that depreciation is not a budgeted item.
Budgeted amounts are as originally adopted or as amended by the City Council or the City
Administrator. There were no individual amendments to the original appropriations, which
were adopted and consisted of transferring amounts within departmental accounts. No
supplemental appropriations were necessary during the year.
The City employs the use of encumbrance accounting during the year. All encumbrances
lapse at the end of the year.
Unexpended appropriations lapse at the end of the year except that a whole or part of
appropriations provided in the budget for capital or betterment outlays of any department or
activity remaining unexpended at the close of the fiscal year is held available for the following
year.
29
NOTES TO FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
D. Budgets and Budgetary Accounting (Continued)
Excess of Expenditures over Appropriations – For the year ended December 31, 2025,
expenditures exceeded budget in the General Fund for the following functions:
(Over) Under
Function Final Budget Actual Budget
Current - General Government 7,969,144$ 11,425,944$ (3,456,800)$
Total General Government 7,969,144$ 11,425,944$ (3,456,800)$
Current - Public Safety 11,925,132$ 12,020,595$ (95,463)$
Capital Outlay - Public Safety 745,500 765,615 (20,115)
Total Public Safety 12,670,632$ 12,786,210$ (115,578)$
Current - Parks, Recreation and Tourism 3,812,664$ 4,295,261$ (482,597)$
Total Parks, Recreation and Tourism 3,812,664$ 4,295,261$ (482,597)$
Debt Service - Principal Retirement 462,340$ 624,283$ (161,943)$
Debt Service - Interest 12,315 39,736 (27,421)
Total Debt Service 474,655$ 664,019$ (189,364)$
The over-expenditures for General Government were due to the expenditures related to the disaster
relief efforts from Hurricane Helene in 2024. The over-expenditures for Public Safety were due to
the purchase of vehicles and expenditures for personnel costs. The over-expenditures for Parks,
Recreation, and Tourism were due to the increase in length of the large athletic tournaments and
increased number of tourism events. The over-expenditures for Debt Service were due to principal
and interest paid on SBITAs.
E. Assets, Liabilities, Deferred Outflow/Inflows of Resources, and Net Position
and Fund Balance
Cash/Cash Equivalents and Investments – For purposes of the Statement of Cash Flows, the
enterprise funds consider all highly-liquid investments (including restricted assets) with a maturity
of three months or less when purchased, to be cash equivalents.
Investments are stated at fair value. A detailed description of investments is included in Note 2.
Receivables – Receivables are shown net of allowances for uncollectible amounts. Uncollectible
amounts are estimated based upon past collection experience.
Inventory – Inventory in the Water and Wastewater System Fund is valued at cost (first-in, first-
out) using the consumption method and consists of supplies used in repairing and maintaining the
water and wastewater systems.
30
NOTES TO FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
E. Assets, Liabilities, Deferred Outflow/Inflows of Resources, and Net Position
and Fund Balance (Continued)
Restricted Assets – Certain resources set aside for the City’s debt repayment (revenue bonds) are
classified as restricted assets on the Statement of Net Position because their use is limited by
debt agreements.
Capital Assets – All purchased capital assets are valued at cost where historical records are
available and at an estimated historical cost where no historical records exist. Donated capital
assets are valued at their estimated acquisition value on the date received. General infrastructure
assets consisting of roadways, storm drainage, sidewalks, etc., constructed, or acquired prior to
January 1, 2003, are reported at estimated historical cost using deflated replacement cost.
General infrastructure assets constructed or acquired after January 1, 2003, are reported at cost.
The City’s policy is to capitalize purchases over $5,000.
The costs of normal maintenance and repairs that do not add to the value of assets or materially
extend asset lives are not capitalized. Improvements are capitalized and depreciated over the
remaining useful lives of the related capital assets, as applicable.
Land and construction in progress are not depreciated. Depreciable and right-to-use assets are
depreciated and amortized using the straight-line method over the following estimated useful lives:
Buildings 10 - 40 years
Water and wastewater system, structures, and facilities 20 - 75 years
Machinery and equipment 3 - 12 years
Furniture and fixtures 5 - 12 years
Vehicles 5 - 10 years
Other assets 20 years
PSA capital share - Aiken 40 years
Roadways 25 years
Right-to-use software 5 years
Compensated Absences – It is the City’s policy to permit employees to accumulate earned but
unused vacation and sick pay benefits. All vacation and sick pay are attributable to past service,
and the employees will be compensated; therefore, the vacation and sick pay are accrued in the
government-wide and proprietary fund financial statements. For governmental activities,
compensated absences are generally liquidated by the General Fund and vacation pay is only
reported when it is payable to the employee upon resignation or retirement.
Leases (Lessor) – The City is the lessor for certain noncancellable leases of real property within the
City. The City recognizes a lease receivable and a deferred inflow of resources for deferred lease
receipts in accordance with these transactions.
31
NOTES TO FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
E. Assets, Liabilities, Deferred Outflow/Inflows of Resources, and Net Position
and Fund Balance (Continued)
Leases (Lessor) (Continued) – At the commencement of a lease, the City initially measures the
lease receivable at the present value of payments expected to be received during the lease term.
Subsequently, the lease receivable is reduced by the principal portion of lease payments made.
The deferred inflow of resources is initially measured as the initial amount of the lease receivable,
adjusted for lease payments made at or before the lease commencement date, less certain other
amounts to be paid by the City (if any). Subsequently, the deferred inflow of resources is amortized
into lease revenue on a straight-line basis over the lease term.
Key estimates and judgments related to leases include how the City determines (1) the discount
rate it uses to discount the expected lease payments to present value, (2) lease term, and (3) lease
payments:
The lease agreements entered into by the City as lessor do not include stated interest rates.
Therefore, the City generally uses its estimated incremental borrowing rate as the discount
rate for leases.
The lease term includes the noncancellable period of the lease. Lease payments included
in the measurement of the lease receivable are composed of fixed payments that the City
will receive over the term of the lease agreement.
The City monitors changes in circumstances that would require a remeasurement of its lease and
will remeasure the lease receivable and deferred inflow of resources if certain changes occur that
are expected to significantly affect the amount of the lease.
Subscription-Based Information Technology Arrangements (SBITAs) – The City is a party in certain
noncancellable SBITAs. The City recognizes a subscription liability and subscription asset in the
government-wide financial statements. The City recognizes subscription liabilities with an individual
value of $5,000 or more.
At the commencement of a SBITA, the City initially measures the subscription liability at the present
value of payments expected to be made during the subscription term. Subsequently, the
subscription liability is reduced by the principal portion of payments made. The subscription asset is
initially measured as the initial amount of the subscription liability, adjusted for subscription
payments made at or before the subscription commencement date, plus certain initial direct costs.
Subsequently, the subscription asset is amortized on a straight-line basis over its useful life. Key
estimates and judgments related to SBITAs include how the City determines (1) the discount rate it
uses to discount the expected payments to present value, (2) agreement term, and (3) payments:
32
NOTES TO FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
E. Assets, Liabilities, Deferred Outflow/Inflows of Resources, and Net Position
and Fund Balance (Continued)
Subscription-Based Information Technology Arrangements (SBITAs) (Continued) –
The City uses the indirect interest rate charged by the vendor as the discount rate. When
the interest rate of the vendor is not provided, the City generally uses its estimated
incremental borrowing rate as the discount rate for subscriptions.
The subscription term includes the noncancellable period of the subscription. Subscription
payments included in the measurement of the subscription liability are composed of fixed
payments and purchase option prices that the City is reasonably certain to exercise.
The City monitors changes in circumstances that would require a remeasurement of its subscription
and will measure the subscription asset and liability if certain changes occur that are expected to
significantly affect the amount of the subscription liability.
Subscription assets are reported with other capital assets and subscription liabilities are reported
with long-term liabilities on the Statement of Net Position.
Long-term Obligations – In the government-wide and proprietary funds' financial statements, long-
term debt, and other long-term obligations are reported as liabilities. Bond premiums and
discounts are deferred and amortized over the life of the bonds using the effective interest
method. Bonds payable are reported net of the applicable premium or discount. Bond issuance
costs are expensed as they are incurred.
In the fund financial statements, governmental fund types recognize bond premiums and
discounts, as well as bond issuance costs, during the current period. The face amount of debt
issued is reported as another financing source. Premiums received are reported as other financing
sources, while discounts are reported as other financing uses. Issuance costs, whether or not
withheld from debt proceeds received, are reported as debt service expenditures.
The City implemented Governmental Accounting Standards Board (GASB) Statement No. 88,
Certain Disclosures Related to Debt, including Direct Borrowings and Direct Placements in a prior
year and, therefore, includes both long-term debt (such as bonds, notes, and loans) and other
long-term liabilities (such as compensated absences, leases payable, and claims and judgements)
in their debt disclosures. Refer to Note 6 for disclosures.
Deferred Outflows/Inflows of Resources – In addition to assets, the Statement of Net Position
reports a separate section for deferred outflows of resources. This separate financial statement
element represents a consumption of net assets that applies to a future period(s) and so will not be
recognized as an outflow of resources (expense/expenditure) until then. The City’s deferred
outflows consist of pension related items, as further discussed in Note 9.
33
NOTES TO FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
E. Assets, Liabilities, Deferred Outflow/Inflows of Resources, and Net Position
and Fund Balance (Continued)
Deferred Outflows/Inflows of Resources (Continued) – In addition to liabilities, the Statement of Net
Position and the Governmental Funds Balance Sheet report a separate section for deferred inflows
of resources. This separate financial statement element represents an acquisition of net assets that
applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until
that time. Deferred inflows of resources consist of unavailable revenue, deferred lease receipts and
pension related items. The item Unavailable revenue is reported under the modified accrual basis of
accounting, is reported in the Governmental Funds Balance Sheet as a deferred inflow of
resources. These amounts are deferred and recognized as an inflow of resources in the period that
the amounts become available. The item Deferred lease receipts are reported on the Statement of
Net Position and the Governmental Funds Balance Sheet as a deferred inflow of resources. Certain
pension related items, as further discussed in Note 8, are also classified as deferred inflows of
resources and are reported on the Statement of Net Position.
Fund Balance/Net Position – Fund balance in government-wide and proprietary fund financials is
classified as net position. Net position is classified as follows:
Net Investment in Capital Assets – This classification represents capital assets, net of
accumulated depreciation, decreased by the remaining balances of any bonds, notes or other
borrowings that are attributable to the acquisition, construction, or improvement of those assets.
Restricted – Restricted net position represents constraints on resources that are either
externally imposed by creditors, grantors, contributors, or laws or regulations of other
governments or imposed by law through state statute.
Unrestricted – Unrestricted net position represents net position that does not meet the
definitions of the other classifications.
Fund balance is divided into five classifications based primarily on the extent to which the City is
bound to observe constraints imposed upon the use of the resources in the governmental funds.
The classifications are as follows:
Nonspendable – Fund balances are reported as nonspendable when amounts cannot be
expended because they are either (1) not in spendable form or (2) legally or contractually
required to be maintained intact.
Restricted – Fund balances are reported as restricted when there are restrictions imposed on
their use either through enabling legislation adopted by the City or through external
restrictions imposed by creditors, grantors, contributors, or laws or regulations of other
governments or imposed by law through state statute.
34
NOTES TO FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
E. Assets, Liabilities, Deferred Outflow/Inflows of Resources, and Net Position
and Fund Balance (Continued)
Fund Balance/Net Position (Continued) –
Committed – Fund balances are reported as committed when they can be used only for a
specific purpose pursuant to constraints imposed at the highest level of decision-making
authority. The City Council is the highest level of decision-making authority. The City Council
can establish, modify, or rescind a fund balance commitment through adoption of a resolution.
Assigned – Fund balances are reported as assigned when amounts are constrained by the
City Council’s intent to be used for specific purposes but are neither restricted nor committed.
The City Administrator, who is appointed by and serves at the pleasure of the City Council,
has the authority to assign fund balance amounts and does not require formal action to
impose, modify, or remove any fund balance assignment.
Unassigned –- Fund balances are reported as unassigned as the remaining amount when the
balances do not meet any of the other classifications. The City reports positive fund balance in
the general fund only, if applicable. Negative unassigned balances may be reported in all
governmental funds.
Flow Assumptions – When both restricted and unrestricted amounts of fund balances are
available for use for expenditures incurred, the City’s policy is to use restricted amounts first and
then unrestricted amounts as they are needed. For unrestricted amounts of fund balance, the
City’s policy is to use fund balances in the following order: committed, assigned, unassigned.
Minimum Fund Balance – City Council has adopted an ordinance under which a minimum
unassigned fund balance policy has been established at each fiscal year-end for certain funds, as
follows:
General Fund: 15% of the then current general fund budget to the nearest $25,000.
Stormwater Utility Fund: 20% of the then current stormwater utility fund budget to the nearest
$25,000.
Sanitation Services Fund: 20% of the then current sanitation services fund budget to the
nearest $25,000.
Street Improvements Fund: $100,000.
Water and Sewer Fund: 20% of the then current water and sewer fund budget to the nearest
$25,000.
35
NOTES TO FINANCIAL STATEMENTS
NOTE 2. CASH AND CASH EQUIVALENTS AND DEPOSITS
As of December 31, 2025, the City’s cash and cash equivalents consisted of the following:
Statement of Net Position:
Cash $ 46,703,617
Restricted cash 8,954,291
$ 55,657,908
Cash deposited with financial institutions $ 15,899,850
South Carolina Local Governmental Investment Pool 39,758,058
$ 55,657,908
Credit Risk – The City has an investment policy that all investments made by the City will be
selected and properly secured in accordance with State law. Section 6-5-10 of the State of South
Carolina Code of Laws authorizes local governments to make the following types of investments:
Obligations of the United States and agencies thereof;
General obligations of the state of South Carolina or any of its political units;
Savings and Loan Associations to the extent that the same are insured by an agency of the
federal government;
Repurchase agreements when collateralized by securities as set forth in this section;
Certificates of deposit where the certificates are collaterally secured by securities of the type
described above held by a third party as escrow agent or custodian, of a fair value not less
than the amount of the certificates of deposit so secured, including interest; provided;
however, such collateral shall not be required to the extent the same are insured by an
agency of the federal government; and,
No load open-end or closed-end management-type investment companies or investment
trusts registered under the Investment Company Act of 1940, as amended, where the
investment is made by a bank or trust company or savings and loan association or other
financial institution when acting as trustee or agent for a bond or other debt issue of that local
government unit, political subdivision, or City treasurer if the particular portfolio of the
investment company or investment trust in which the investment made is (i) limited to
obligations described in items 1, 2, and 5 of this subsection, and (ii) has among its objectives
the attempt to maintain a constant net asset value of one dollar a share and to that end, value
its assets by the amortized cost method.
36
NOTES TO FINANCIAL STATEMENTS
NOTE 2. CASH AND CASH EQUIVALENTS AND DEPOSITS (CONTINUED)
Credit Risk (Continued) – Section 6-6-20 of the State of South Carolina Code of Laws authorizes
the State Treasurer’s Office to invest and reinvest the monies of the State Treasurer’s Investment
Pool in the investments identified in Section 6-5-10 shown above and identified in Section 11-9-660
as follows:
Obligations of the United States, its agencies, and instrumentalities;
Obligations issued or unconditionally guaranteed by the International Bank for Reconstruction
and Development, the African Development Bank, and the Asian Development Bank;
Obligations of a corporation, state, or political subdivision denominated in United States
dollars, if the obligations bear an investment-grade rating of at least two nationally recognized
rating services;
Certificates of deposit, if the certificates are secured collaterally by securities of the types
described in items 1 and 3 of this section and held by a third party as escrow agent or
custodian and are of a fair value not less than the amount of the certificates of deposit so
secured, including interest; except that this collateral is not required to the extent the
certificates of deposit are insured by an agency of the federal government;
Repurchase agreements, if collateralized by securities of the types described in items 1 and 3
of this section and held by a third party as escrow agent or custodian and of a fair value not
less than the amount of the repurchase agreement so collateralized, including interest; and
Guaranteed investment contracts issued by a domestic or foreign insurance company or other
financial institution, whose long-term unsecured debt rating bears the two highest ratings of at
least two nationally recognized rating services.
The South Carolina Local Government Investment Pool (LGIP) is an external investment pool that
is not registered as an investment company with the Securities and Exchange Commission.
However, the pool has a policy established to operate the pool consistent with the Securities and
Exchange Commission Rule 2a-7 of the Investment Company Act of 1940. The LGIP is an
investment trust fund, in which public monies in excess of current needs, which are under the
custody of any county treasurer or any governing body of a political subdivision of the State, may
be deposited. Funds may be deposited by LGIP participants at any time and may be withdrawn
upon 24 hours’ notice. Financial statements for the LGIP may be obtained by writing the Office of
State Treasurer, Local Government Investment Pool, Post Office Box 11778, Columbia, South
Carolina 29211- 1950. At December 31, 2025, the underlying security ratings of the City’s
investment in the LGIP are not separately rated, however, additional information related to these
deposits may be obtained from the LGIP’s complete financial statements. These financial
statements may be obtained by writing to the following address:
Office of the State Treasurer
Local Government Investment Pool
Post Office Box 11778
Columbia, South Carolina 29211
37
NOTES TO FINANCIAL STATEMENTS
NOTE 2. CASH AND CASH EQUIVALENTS AND DEPOSITS (CONTINUED)
Interest Rate Risk – The City’s formal investment policy does not limit investment maturities as a
means of managing its exposure to fair value losses arising from increasing interest rates. The
City does not consider itself to be at risk due to interest rates as all investments currently mature
daily.
Concentration Credit Risk – The City’s formal investment policy does not place a limit on the
amount the City may invest in any one issuer. The City’s investments held in the State Treasurer’s
Investment Pool comprise 76% of total deposits and investments. The additional concentration is
not viewed to be an additional risk by the City as these accounts are fully collateralized.
Custodial Credit Risk – Deposits – Custodial credit risk for deposits is the risk that, in the event of
a bank failure, the City’s deposits may not be returned to it. The City does not have a deposit
policy for custodial credit risk. At December 31, 2025, the carrying amount of the City’s deposits
was $15,899,850 and the bank balance was $16,330,742. The entire bank balance was covered
by federal depository insurance or by collateral held by the City’s agent in the City’s name.
NOTE 3. FAIR VALUE MEASUREMENTS
The City follows the Fair Value Measurements topic of GASB, which requires fair value
measurement be classified and disclosed in one of the following three Fair Value Hierarchy
categories:
Level 1
Quoted prices are available in active markets for identical investments as of the reporting date.
The types of investments which would generally be included in Level 1 include listed equity
securities, mutual funds, and money market funds.
Level 2
Pricing inputs are observable for the investments, either directly or indirectly, as of the reporting
date, but are not the same as those used in Level 1; inputs include comparable market
transactions, pricing of similar instruments, values reported by the administrator, and pricing
expectations based on internal modeling. Fair value is determined through the use of models or
other valuation methodologies. The types of investments which would generally be included in this
category include publicly traded securities with restrictions on disposition, corporate obligations,
and U.S. Government and Agency Treasury Inflation Indices.
Level 3
Pricing inputs are unobservable for the investment and include situations where there is little, if
any, market activity for the investments. The types of investments which would generally be
included in this category include debt and equity securities issued by private entities and
partnerships. The inputs into the determination of fair value require significant judgment or
estimation. Inputs include recent transactions, earnings forecasts, market multiples, and future
cash flows.
38
NOTES TO FINANCIAL STATEMENTS
NOTE 3. FAIR VALUE MEASUREMENTS (CONTINUED)
The City’s recurring fair value measurements as of December 31, 2025, for its $39,758,058
investment in the LGIP are valued at the net asset value and is thus not reported in the fair value
hierarchy. Fair value of the LGIP’s investments is determined on a recurring basis based upon
quoted market prices. The fair value of the pool is allocated to its local governments with invested
funds on an equal basis for each share owned, which are purchased at a cost of $1.
NOTE 4. RECEIVABLES
Receivables as of December 31, 2025, including the applicable allowances for uncollectible
accounts, are as follows:
Fund
Receivables:
Taxes $ 370,311 $ - $ - $ - $-
Accounts 510,823 130,521 4,751 2,764,390 34,472
Intergovernmental 491,394 - 68,909 - -
Leases 984,109 - - - -
-
Gross receivables 2,356,637 130,521 73,660 2,764,390 34,472
Less allowance
for uncollectibles:
Taxes (292,270) - - - -
Accounts - - - (46,000) -
Total allowance (292,270) - - (46,000) -
Net receivables $ 2,064,367 $ 130,521 $ 73,660 $ 2,718,390 $ 34,472
Enterprise Funds
Nonmajor Water and
Services
SanitationGeneralWastewater
System
Public Facilities
North Augusta
Corporation
Governmental
Funds
Governmental Funds
The schedule of lease receipts as of December 31, 2025, is as follows:
Year ending December 31, Principal Interest Total
2026 $ 115,797 $ 15,750 $ 131,547
2027 124,603 12,598 137,201
2028 132,918 10,331 143,249
2029 141,819 7,900 149,719
2030 124,474 5,861 130,335
2031-2033 344,498 8,536 353,034
Total $ 984,109 $ 60,976 $ 1,045,085
Governmental Activities
39
NOTES TO FINANCIAL STATEMENTS
NOTE 5. CAPITAL ASSETS
Capital asset activity for the governmental activities for the year ended December 31, 2025, is as
follows:
Beginning Ending
Balance Increases Decreases Transfers Balance
Governmental activities:
Capital assets, not being depreciated:
Land $ 10,330,391 $- $- $ 41,230 $ 10,371,621
Construction in progress 24,760,525 580,680 - (25,341,205)-
Right-of-way 4,651,327 285,330 - - 4,936,657
Total 39,742,243 866,010 - (25,299,975)15,308,278
Capital assets, being depreciated/amortized:
Land improvements 25,577,315 449,241 (33,316) 2,776,000 28,769,240
Buildings 110,964,318 337,042 (18,250) 22,523,975 133,807,085
Machinery and equipment 4,820,722 470,123 (56,440) -5,234,405
Furniture and fixtures 1,811,708 - (83,977) -1,727,731
Vehicles 11,057,919 1,426,633 (240,247) -12,244,305
Infrastructure 35,073,934 1,606,003 - - 36,679,937
Right-to-use subscriptions 700,526 - - - 700,526
Total 190,006,442 4,289,042 (432,230) 25,299,975 219,163,229
Less accumulated depreciation/amortization for:
Land improvements (14,128,954) (962,611) 33,316 - (15,058,249)
Buildings (27,408,644) (2,695,022) 18,250 - (30,085,416)
Machinery and equipment (2,950,058) (402,588) 56,440 - (3,296,206)
Furniture and fixtures (1,590,575) (39,567) 83,977 - (1,546,165)
Vehicles (7,169,532) (888,088) 240,247 -(7,817,373)
Infrastructure (19,572,177) (1,108,181) - - (20,680,358)
Right-to-use subscriptions (140,105) (140,105) - - (280,210)
Total (72,960,045) (6,236,162) 432,230 -(78,763,977)
Total capital assets, being
depreciated/amortized, net 117,046,397 (1,947,120) - 25,299,975 140,399,252
Governmental activities capital
assets, net $ 156,788,640 $ (1,081,110) $- $- $ 155,707,530
40
NOTES TO FINANCIAL STATEMENTS
NOTE 5. CAPITAL ASSETS (CONTINUED)
Capital asset activity for the business-type activities for the year ended December 31, 2025, is as
follows:
Beginning Ending
Balance Increases Decreases Transfers Balance
Business-type activities
Capital assets, not being depreciated:
Land $ 824,058 $- $- $-$ 824,058
Construction in progress 1,108,560 1,279,472 - (1,962,076) 425,956
Easements 62,760 - - - 62,760
Total 1,995,378 1,279,472 - (1,962,076) 1,312,774
Capital assets, being depreciated/amortized:
Land improvements 88,650 - - - 88,650
Buildings 24,154,339 - - 1,962,076 26,116,415
Machinery and equipment 3,743,190 208,304 (7,290) -3,944,204
Vehicles 6,490,115 1,224,492 (347,701) -7,366,906
System improvements 89,142,757 9,190,460 - - 98,333,217
PSA Capital 4,667,405 - - - 4,667,405
Service rights 100,000 - - - 100,000
Right-to-use subscriptions 439,226 - - - 439,226
Total 128,825,682 10,623,256 (354,991) 1,962,076 141,056,023
Less accumulated depreciation/amortization for:
Land improvements (14,214) (3,546) - - (17,760)
Buildings (6,097,689) (666,324) - - (6,764,013)
Machinery and equipment (2,317,188) (237,736) 819 -(2,554,105)
Vehicles (3,685,491) (674,544) 347,701 -(4,012,334)
System improvements (25,203,452) (1,486,430) - - (26,689,882)
PSA Capital (3,244,780) (61,981) - - (3,306,761)
Service rights (91,519) (2,500) - - (94,019)
Right-to-use subscriptions (87,845) (87,845) - - (175,690)
Total (40,742,178) (3,220,906) 348,520 -(43,614,564)
Total capital assets, being
depreciated/amortized, net 88,083,504 7,402,350 (6,471) 1,962,076 97,441,459
Business-type activities capital
assets, net $ 90,078,882 $ 8,681,822 $ (6,471) $-$ 98,754,233
Included in current year additions are contributed systems in the amount of $1,240,779 for the water
and wastewater system and $1,145,498 for the stormwater utility.
41
NOTES TO FINANCIAL STATEMENTS
NOTE 5. CAPITAL ASSETS (CONTINUED)
Depreciation and amortization expense was charged to functions/programs of the primary
government as follows:
General government $ 2,411,340
Public safety 1,209,648
Public works 1,574,056
Parks, recreation and tourism 1,041,118
Total depreciation and amortization expense - governmental activities $ 6,236,162
Governmental activities
Water and Wastewater System $ 1,863,504
Sanitation Services 826,305
Stormwater Utility 531,097
Total depreciation and amortization expense - business-type activities
$ 3,220,906
Business-type activities
NOTE 6. LONG-TERM DEBT AND OTHER LONG-TERM LIABILITIES
Changes in Long-term Debt and Other Long-term Liabilities
Long-term liability activity for the year ended December 31, 2025, was as follows:
Beginning Ending Due within
Balance Additions Reductions Balance One Year
Governmental activities
Revenue bonds:
North Augusta Public
Facility Corporation bonds $ 65,740,000 $- $ (980,000) $ 64,760,000 $ 1,070,000
General obligation bonds 5,216,000 - (1,718,000) 3,498,000 1,739,000
Financed purchases payable 1,252,799 - (671,520) 581,279 404,430
Compensated absences 2,410,834 1,046,614 (869,126) 2,588,322 2,404,329
Subscriptions payable 527,178 - (121,621) 405,557 128,176
Net pension liability 15,828,204 3,131,385 (4,008,579) 14,951,010 -
Total long-term liabilities $ 90,975,015 $ 4,177,999 $ (8,368,846) $ 86,784,168 $ 5,745,935
For governmental activities, compensated absences and the net pension liability are generally
liquidated by the General Fund and special revenue funds, while financed purchases payable are
liquidated by the General Fund and the Capital Projects Fund. Subscriptions payable are liquidated
by the General Fund.
42
NOTES TO FINANCIAL STATEMENTS
NOTE 6. LONG-TERM DEBT AND OTHER LONG-TERM LIABILITIES (CONTINUED)
Revenue Bonds Payable – Revenue bonds payable (recorded as a liability for governmental
activities) at December 31, 2025, is comprised of the following:
In January 2015, the Corporation entered into an installment purchase transaction in the principal
amount of not exceeding ten million dollars to construct and equip a parking garage. In January of
2016, this agreement was amended and restated as an installment purchase transaction in the
principal amount, not exceeding thirteen million dollars, to refinance the costs relating to the
construction and equipping of a parking garage and finance the costs relating to the construction
and equipping of certain roads, water, sewer, and related infrastructure. In January 2017, this
agreement was amended and restated again in the principal amount not exceeding sixteen million
dollars (“Series 2017A”). In January 2017, the City also entered into an amended and restated
agreement to lease the parking deck from the Corporation. In May 2017, the Corporation entered
into an installment purchase transaction in the principal amount of not exceeding $69,450,000 to
construct and equip two parking decks, a stadium, conference facilities, a riverfront park, and
certain roads, water, sewer and related infrastructure (“Series 2017B”). Proceeds from this
transaction were also used to refinance the municipal center financed purchase payable and the
Series 2017A revenue bond discussed above during 2017.
The 2017B bonds mature in November 2048. Principal payments are due annually in November
beginning in 2020. Interest payments are made bi-annually based on the all-in true interest cost of
the revenue bond transaction. The bond is collateralized by the constructed assets described
above.
Year ending December 31, Principal Interest Total
2026 $ 1,070,000 $ 3,073,701 $ 4,143,701
2027 1,395,000 3,035,256 4,430,256
2028 1,505,000 2,983,041 4,488,041
2029 1,620,000 2,925,204 4,545,204
2030 1,745,000 2,861,328 4,606,328
2031 - 2035 10,800,000 13,026,327 23,826,327
2036 - 2040 12,315,000 10,455,563 22,770,563
2041 - 2045 18,865,000 6,825,458 25,690,458
2046 - 2048 15,445,000 1,585,367 17,030,367
Total $ 64,760,000 $ 46,771,245 $ 111,531,245
2017B Revenue Bonds
43
NOTES TO FINANCIAL STATEMENTS
NOTE 6. LONG-TERM DEBT AND OTHER LONG-TERM LIABILITIES (CONTINUED)
General Obligation Bonds – General Obligation bonds payable (recorded as a liability for
governmental activities) at December 31, 2025, is comprised of the following:
In March 2020, the City issued General Obligation Bonds, Series 2020, in the amount of
$10,250,000. The bonds were issued pursuant to an ordinance adopted by City Council subject to
an affirmative voter referendum for the purposes of (1) defraying the costs incurred in connection
with all or a portion of the designing, developing, and construction of a new Department of Public
Safety headquarters and related fire apparatus; and (2) issuance costs thereof. Section 14 of Article
X of the Constitution of the State of South Carolina provides that municipalities of the State may
issue bonded indebtedness in an amount not exceeding 8% of the assessed value of all taxable
property therein, unless approved at referendum. Bonded indebtedness approved at referendum
may be incurred without regard to the City’s Debt Limit and as a result of the aforementioned
affirmative referendum, the principal amount of the bonds does not count against the debt limit. The
full faith, credit, and taxing power of the City are irrevocably pledged as security for the bonds. The
bonds are payable in semiannual installments beginning on September 1, 2020, through March 1,
2027. Interest is payable on March 1 and September 1 each year through maturity. Principal is
payable on March 1 annually through maturity. The bonds bear interest at 1.19%.
Year ending December 31, Principal Interest Total
2026 $ 1,739,000 $ 31,279 $ 1,770,279
2027 1,759,000 10,466 1,769,466
Total $ 3,498,000 $ 41,745 $ 3,539,745
2020 General Obligation Bonds
Financed Purchases Payable – The City has entered into several financed purchase payable
agreements for various equipment. Principal and interest payments are due annually. Interest rates
range from 1.51% to 2.56%. The annual debt service requirements are as follows:
Year ending December 31, Principal Interest Total
2026 $ 404,430 $ 16,492 $ 420,922
2027 176,849 7,007 183,856
Total $ 581,279 $ 23,499 $ 604,778
Governmental Activities
44
NOTES TO FINANCIAL STATEMENTS
NOTE 6. LONG-TERM DEBT AND OTHER LONG-TERM LIABILITIES (CONTINUED)
Long-term liability activity for the year ended December 31, 2025, was as follows:
Beginning Ending Due within
Balance Additions Reductions Balance One Year
Business-type activities
Revenue bonds payable $ 13,804,000 $- $ (1,144,000) $ 12,660,000 $ 1,165,000
Financed purchases payable 739,819 - (400,373) 339,446 183,646
Compensated absences 1,016,442 654,666 (643,720) 1,027,388 1,027,388
Subscriptions payable 343,447 - (78,679) 264,768 83,302
Net pension liability 8,637,620 1,198,829 (1,517,614) 8,318,835 -
Total long-term liabilities $ 24,541,328 $ 1,853,495 $ (3,784,386) $ 22,610,437 $ 2,459,336
Revenue Bonds Payable – Revenue bonds payable (recorded as a liability in the Water and
Wastewater System Fund) at December 31, 2025, are comprised of the following:
The Waterworks and Sewer System Refunding Revenue Bond, “the Series 2021 Bond” was issued
in April 2021. The proceeds of this bond were used to refund the Series 2014 A and 2015 A SC
Drinking Water Revolving Loans and to pay certain costs and expenses relating to the issuance of
the Series 2021 Bond. Interest of 1.8% is payable semiannually on May 1 and November 1 of each
year with a single principal payment on November 1, 2021. The remaining principal is paid annually
beginning May 1, 2022, and ranging from $600,000 to $1,346,000. The current refunding resulted in
cash flow savings of $235,185 and an economic gain of $167,037.
Year ending December 31, Principal Interest Total
2026 $ 1,165,000 $ 217,395 $ 1,382,395
2027 1,186,000 196,236 1,382,236
2028 1,208,000 174,690 1,382,690
2029 1,230,000 152,748 1,382,748
2030 1,253,000 130,401 1,383,401
2031 - 2035 6,018,000 307,674 6,325,674
2036 600,000 5,400 605,400
Total $ 12,660,000 $ 1,184,544 $ 13,844,544
2021 Refunding
45
NOTES TO FINANCIAL STATEMENTS
NOTE 6. LONG-TERM DEBT AND OTHER LONG-TERM LIABILITIES (CONTINUED)
Revenue Bonds Payable (Continued)
The revenue bond ordinances require, among other things, that certain funds be maintained as
follows:
Gross Revenue Fund - To receive all receipts, income, and revenues that the City shall derive
directly or indirectly from the operation of the system and to disburse them to the following funds:
Operation and Maintenance Fund - To provide for the payment of all fund expenses incurred in
connection with the administration and operation of the system.
Bond and Interest Redemption Fund - To provide for the payment of the principal and interest on
the bonds.
Debt Service Reserve Fund - To ensure the timely payment of the principal and interest on the
bonds, and to provide for the redemption of bonds prior to their stated maturity.
Depreciation or Replacement Fund - Intended to build up a reasonable reserve for depreciation of
the system for the purpose of restoring depreciated or obsolete items of the system.
Contingent Fund - Intended to build up a reasonable reserve for improvements, betterments and
extensions to the system.
Construction Fund - Intended to provide for the payment of temporary loans made in anticipation of
the issuance of bonds and the cost of the construction of the improvements.
Monies shall be transferred to all the funds from the Gross Revenue Fund monthly as required to
meet the stated purpose of the individual funds. The system is specifically required to deposit one-
sixth of the aggregate amount of interest to become due on the next semiannual interest payment
date and one-twelfth of the aggregate annual amount of principal to become due in the Bond and
Interest Redemption Fund monthly.
The revenue bonds are collateralized by a pledge of revenues derived from the system for so long a
time as any sum remains due and payable by way of principal or interest on the bonds. Annual
principal and interest payments on the revenue bonds are expected to be less than 25% of annual
net system charges for services. Principal and interest paid in 2025 totaled $1,381,446. Total net
charges for services for the year were $13,880,207.
46
NOTES TO FINANCIAL STATEMENTS
NOTE 6. LONG-TERM DEBT AND OTHER LONG-TERM LIABILITIES (CONTINUED)
Financed Purchases Payable – The City has entered into several financed purchase payable
agreements for various equipment. Principal and interest payments are due annually. Interest rates
range from 1.51% to 2.56%. The annual debt service requirements are as follows:
Year ending December 31, Principal Interest Total
2026 $ 29,557 $ 232 $ 29,789
2027 30,596 1,066 31,662
Total $ 60,153 $ 1,298 $ 61,451
Water and Wastewater
Year ending December 31, Principal Interest Total
2026 $ 144,678 $ 11,039 $ 155,717
2027 125,204 3,166 128,370
Total $ 269,882 $ 14,205 $ 284,087
Sanitation Services
Year ending December 31, Principal Interest Total
2026 $ 9,411 $ 148 $ 9,559
Total $ 9,411 $ 148 $ 9,559
Stormwater Utility
47
NOTES TO FINANCIAL STATEMENTS
NOTE 7. SUBSCRIPTION-BASED INFORMATION TECHNOLOGY ARRANGEMENTS
The City has entered into multiple noncancelable SBITAs as the lessee for various subscription
assets. The incremental borrowing rate is 2%. As of December 31, 2025, the City has $405,557
and $264,768 outstanding in SBITAs payable related to governmental and business-type
activities, respectively.
The annual requirements to amortize all SBITAs payable as of December 31, 2025, including
interest payments, for the City’s governmental activities are as follows:
Year ending December 31, Principal Interest Total
2026 $ 128,176 $ 7,825 $ 136,001
2027 135,068 5,255 140,323
2028 142,313 2,548 144,861
Total $ 405,557 $ 15,628 $ 421,185
The annual requirements to amortize all SBITAs payable as of December 31, 2025, including
interest payments, for the City’s business-type activities are as follows:
Year ending December 31, Principal Interest Total
2026 $ 83,302 $ 5,189 $ 88,491
2027 88,170 3,521 91,691
2028 93,296 1,755 95,051
Total $ 264,768 $ 10,465 $ 275,233
Subscription asset activity for the City’s governmental activities for the year ended December 31,
2025, was as follows:
Governmental activities:
Subscription Assets $ 700,526 $ - $ - $ 700,526
Less accumulated amortization: (140,105) (140,105) - (280,210)
Governmental activities total
subscription assets, net $ 560,421 $ (140,105) $ - $ 420,316
Balance
Ending
DeductionsAdditions
Beginning
Balance
48
NOTES TO FINANCIAL STATEMENTS
NOTE 7. SUBSCRIPTION-BASED INFORMATION TECHNOLOGY ARRANGEMENTS
(CONTINUED)
Subscription asset activity for the City’s business-type activities for the year ended December 31,
2025, was as follows:
Business-type activities:
Subscription Assets $ 439,226 $ - $ - $ 439,226
Less accumulated amortization: (87,845) (87,845) - (175,690)
Business-type activities total
subscription assets, net $ 351,381 $ (87,845) $ - $ 263,536
Beginning
Balance Additions Deductions
Ending
Balance
NOTE 8. PROPERTY TAXES
Taxes on real property and merchants’ inventory are levied on January 1 of each year and are
based on ownership of such property and inventory as of January 1 of the preceding year. These
taxes are billed and payable between January 1 and May 1 of the year in which they are levied. As
of May 1, property taxes attach as an enforceable lien on property. The City bills and collects its
own real and merchants’ ad valorem taxes. Taxes on personal property are levied and billed in the
month prior to the renewal of the annual vehicle registration through the State Highway
Department and are payable prior to the registration and tag purchase. Ad valorem taxes on
personal property (vehicles) are billed and collected by the County Treasurer and remitted to the
City on a monthly basis. City property tax revenues are recognized in the year for which taxes
have been levied and are collectible either during that year or within 60 days following year-end.
49
NOTES TO FINANCIAL STATEMENTS
NOTE 9. DEFINED BENEFIT PENSION PLAN
Overview:
The South Carolina Public Employee Benefit Authority (PEBA), created July 1, 2012, is the state
agency responsible for the administration and management of the various Retirement Systems and
retirement programs of the state of South Carolina, including the State Optional Retirement
Program and the S.C. Deferred Compensation Program, as well as the state’s employee insurance
programs. As such, PEBA is responsible for administering the South Carolina Retirement Systems’
five defined benefit pension plans. PEBA has an 11-member Board of Directors, appointed by the
Governor and General Assembly leadership, which serves as custodian, co-trustee and co-fiduciary
of the Systems and the assets of the retirement trust funds. The Retirement System Investment
Commission (Commission as the governing body, RSIC as the agency), created by the General
Assembly in 2005, has exclusive authority to invest and manage the retirement trust funds’ assets.
The Commission, an eight-member board, serves as co-trustee and co-fiduciary for the assets of
the retirement trust funds. By law, the State Fiscal Accountability Authority (SFAA), which consists
of five elected officials, also reviews certain PEBA Board decisions regarding the actuary of the
Systems.
For purposes of measuring the net pension liability, deferred outflows and inflows of resources
related to pensions, and pension expense, information about the fiduciary net position of the
Systems and additions to/deductions from the Systems fiduciary net position have been determined
on the accrual basis of accounting as they are reported by the Systems in accordance with
generally accepted accounting principles (GAAP). For this purpose, revenues are recognized when
earned and expenses are recognized when incurred. Benefit and refund expenses are recognized
when due and payable in accordance with the terms of the plan. Investments are reported at fair
value.
PEBA issues an Annual Comprehensive Financial Report (ACFR) containing financial statements
and required supplementary information for the Systems’ Pension Trust Funds. The ACFR is
publicly available through PEBA’s website at www.peba.sc.gov, or a copy may be obtained by
submitting a request to PEBA, 202 Arbor Lake Drive, Columbia, SC 29223. PEBA is considered a
division of the primary government of the state of South Carolina and therefore, retirement trust fund
financial information is also included in the ACFR of the state.
Plan Description:
The City contributes to the South Carolina Retirement System (SCRS), a cost–sharing multiple-
employer defined benefit pension plan that was established July 1, 1945, pursuant to the provisions
of Section 9-1-20 of the South Carolina Code of Laws for the purpose of providing retirement and
other benefits for teachers and employees of the state and its political subdivisions. SCRS covers
employees of state agencies, public school districts, higher education institutions, other
participating local subdivisions of government and individuals first elected to the South Carolina
General Assembly at or after the general election in November 2012.
50
NOTES TO FINANCIAL STATEMENTS
NOTE 9. DEFINED BENEFIT PENSION PLAN (CONTINUED)
Plan Description (Continued):
In addition to the SCRS pension plan, the City has also contributed to the South Carolina Police
Officers Retirement System (PORS), a cost–sharing multiple-employer defined benefit pension plan
that was established July 1, 1962, pursuant to the provisions of Section 9-11-20 of the South
Carolina Code of Laws for the purpose of providing retirement and other benefits to police officers
and firefighters. PORS also covers peace officers, coroners, probate judges and magistrates.
Membership:
Membership requirements are prescribed in Title 9 of the South Carolina Code of Laws. A brief
summary of the requirements under each system is described as follows.
SCRS - Generally, all employees of covered employers are required to participate in and contribute
to the SCRS as a condition of employment. This plan covers general employees, teachers and
individuals newly elected to the South Carolina General Assembly beginning with the November
2012 general election. An employee member of the system with an effective date of membership
prior to July 1, 2012, is a Class Two member. An employee member of the system with an effective
date of membership on or after July 1, 2012, is a Class Three member.
PORS - To be eligible for PORS membership, an employee must be required by the terms of his
employment, by election or appointment, to preserve public order, protect life and property, and
detect crimes in the state; to prevent and control property destruction by fire; or to serve as a peace
officer employed by the Department of Corrections, the Department of Juvenile Justice, or the
Department of Mental Health. Probate judges and coroners may elect membership in PORS.
Magistrates are required to participate in PORS for service as a magistrate. PORS members, other
than magistrates and probate judges, must also earn at least $2,000 per year and devote at least
1,600 hours per year to this work, unless exempted by statute. An employee member of the system
with an effective date of membership prior to July 1, 2012, is a Class Two member. An employee
member of the system with an effective date of membership on or after July 1, 2012, is a Class
Three member.
Benefits:
Benefit terms are prescribed in Title 9 of the South Carolina Code of Laws. PEBA does not have the
authority to establish or amend benefit terms without a legislative change in the code of laws. Key
elements of the benefit calculation include the benefit multiplier, years of service, and average final
compensation. A brief summary of the benefit terms for each system is presented below.
51
NOTES TO FINANCIAL STATEMENTS
NOTE 9. DEFINED BENEFIT PENSION PLAN (CONTINUED)
Benefits (Continued):
SCRS - A Class Two member who has separated from service with at least five or more years of
earned service is eligible for a monthly pension at age 65 or with 28 years credited service
regardless of age. A member may elect early retirement with reduced pension benefits payable at
age 55 with 25 years of service credit. A Class Three member who has separated from service with
at least eight or more years of earned service is eligible for a monthly pension upon satisfying the
Rule of 90 requirement that the total of the member’s age and the member’s creditable service
equals at least 90 years. Both Class Two and Class Three members are eligible to receive a
reduced deferred annuity at age 60 if they satisfy the five- or eight-year earned service requirement,
respectively. An incidental death benefit is also available to beneficiaries of active or retired
members of employees who participate in the death benefit program.
The annual retirement allowance of eligible retirees or their surviving annuitants is increased by
the lesser of 1% or $500 every July 1. Only those annuitants in receipt of a benefit on July 1 of the
preceding year are eligible to receive the increase. Members who retire under the early retirement
provisions at age 55 with 25 years of service are not eligible for the benefit adjustment until the
second July 1 after reaching age 60 or the second July 1 after the date they would have had 28
years of service credit had they not retired.
PORS - A Class Two member who has separated from service with at least five or more years of
earned service is eligible for a monthly pension at age 55 or with 25 years of service regardless of
age. A Class Three member who has separated from service with at least eight or more years
of earned service is eligible for a monthly pension at age 55 or with 27 years of service regardless
of age. Both Class Two and Class Three members are eligible to receive a deferred annuity at age
55 with five or eight years of earned service, respectively. An incidental death benefit is also
available to beneficiaries of active and retired members of employers who participate in the death
benefit program. Accidental death benefits are also provided upon the death of an active member
working for a covered employer whose death was a natural and proximate result of an injury
incurred while in the performance of duty.
The retirement allowance of eligible retirees or their surviving annuitants is increased by the lesser
of 1% or $500 every July 1. Only those annuitants in receipt of a benefit on July 1 of the preceding
year are eligible to receive the increase.
52
NOTES TO FINANCIAL STATEMENTS
NOTE 9. DEFINED BENEFIT PENSION PLAN (CONTINUED)
Contributions:
Actuarial valuations are performed annually by an external consulting actuary to ensure applicable
contribution rates satisfy the funding parameters specified in Title 9 of the South Carolina Code of
Laws. Under these provisions, SCRS and PORS contribution requirements must be sufficient to
maintain an amortization period for the financing of the unfunded actuarial accrued liability (UAAL)
over a period that does not exceed the number of years scheduled in state statute. Effective July 1,
2017, employee rates were increased and capped at 9 percent for SCRS and 9.75 percent for
PORS. The legislation also increased employer contribution rates beginning July 1, 2017, for both
SCRS and PORS until reaching 18.56 percent for SCRS and 21.24 percent for PORS. The
legislation included a further provision that if the scheduled contributions are not sufficient to meet
the funding periods set in state statute, the PEBA board would increase the employer contribution
rates as necessary to meet the funding periods set for the applicable year.
Pension reform legislation modified statute such that the employer contribution rates for SCRS and
PORS to be further increased, not to exceed one-half of one percent in any one year, if necessary,
in order to improve the funding of the plans. The statute set rates intended to reduce the unfunded
liability of SCRS and PORS to the maximum amortization period of 20 years from 30 over a ten-
year schedule, as determined by the annual actuarial valuations of the plan. Finally, under the
revised statute, the contribution rates for SCRS and PORS may not be decreased until the plans
are at least 85 percent funded. For the year ended December 31, 2025, the City contributed
$2,042,799 and $1,257,643, to the SCRS and PORS plans, respectively.
Required employee contribution rates for the year ended December 31, 2025, are as follows:
South Carolina Retirement System
9.00% of earnable compensation
South Carolina Police Officers Retirement System
9.75% of earnable compensation
Required employer contribution rates for the year ended December 31, 2025, are as follows:
South Carolina Retirement System
18.41% of earnable compensation from January 1st through December 31st
Employer incidental death benefit: 0.15% of earnable compensation
South Carolina Police Officers Retirement System
21.04% of earnable compensation from January 1st through December 31st
Employer incidental death benefit: 0.20% of earnable compensation
53
NOTES TO FINANCIAL STATEMENTS
NOTE 9. DEFINED BENEFIT PENSION PLAN (CONTINUED)
Net Pension Liability:
The June 30, 2025, (the measurement date) total pension liability, net pension liability, and
sensitivity information were determined by the consulting actuary, Gabriel, Roeder, Smith and
Company (GRS), and are based on the July 1, 2024 actuarial valuation. The total pension liability
was rolled-forward from the valuation date to the plan’s fiscal year ended June 30, 2025, using
generally accepted actuarial principles. Information included in the following schedules is based on
the certification provided by GRS.
The net pension liability is calculated separately for each system and represents that particular
system’s total pension liability determined in accordance with GASB No. 67, less that system’s
fiduciary net position. As of December 31, 2025, (measurement date of June 30, 2025), the net
pension liability amounts for the City’s proportionate share of the collective net pension liabilities
associated with the SCRS and PORS plans are as follows:
Plan Fiduciary
Total Plan Employer's Net Position as City's Proportionate
Pension Fiduciary Net Net Pension a Percentage of the Share of the Collective
System Liability Position Liability Total Pension Liability Net Pension Liability
SCRS 63,956,318,760$ 42,347,352,061$ 21,608,966,699$ 66.2%0.072344%
PORS 10,857,734,777$ 8,092,430,248$ 2,765,304,529$ 74.5%0.276174%
Actuarial Assumptions and Methods:
Actuarial valuations of the ongoing plan involve estimates of the reported amounts and assumptions
about the probability of occurrence of events far into the future. Examples include assumptions
about future employment, mortality and future salary increases. Amounts determined regarding the
net pension liability are subject to continual revision as actual results are compared with past
expectations and new estimates are made about the future. South Carolina state statute requires
that an actuarial experience study be completed at least once in each five-year period. The GASB
Statement No. 67 valuation report prepared as of June 30, 2025, is based on the experience study
report for the period ending June 30, 2023.
The June 30, 2025, total pension liability (TPL), net pension liability (NPL), and sensitivity
information shown in this report were determined by our consulting actuary, Gabriel Roeder Smith &
Company (GRS) and are based on an actuarial valuation performed as of July 1, 2024. The total
pension liability was rolled-forward from the valuation date to the plans’ fiscal year end, June 30,
2025, using generally accepted actuarial principles. There was no legislation enacted during the
2025 legislative session that had a material change in the benefit provisions for any of the systems.
54
NOTES TO FINANCIAL STATEMENTS
NOTE 9. DEFINED BENEFIT PENSION PLAN (CONTINUED)
Actuarial Assumptions and Methods (Continued):
The following table provides a summary of the actuarial assumptions and methods used in the
July 1, 2024, valuations for SCRS and PORS.
SCRS PORS
Actuarial cost method Entry Age Normal Entry Age Normal
Investment rate of return 7.00%7.00%
Projected salary increases 3% to 11.25%3.5% to 11%
(varies by service) (varies by service)
Benefit adjustments lesser of 1% or $500 lesser of 1% or $500
The post-retiree mortality assumption is dependent upon the member’s job category and gender.
The base mortality assumptions, the 2020 Public Retirees of South Carolina Mortality table (2020
PRSC), was developed using the Systems’ mortality experience. These base rates are adjusted for
future improvement in mortality using 80% of Scale UMP projected from the year 2020.
Males Females
General Employees and Members
of the General Assembly 2020 PRSC Males multiplied by 97% 2020 PRSC Females multiplied by 107%
Public Safety and Firefighters 2020 PRSC Males multiplied by 127% 2020 PRSC Females multiplied by 107%
Former Job Class
Long-term Expected Rate of Return:
The long-term expected rate of return on pension plan investments is based upon 20-year capital
market assumptions. The long-term expected rates of return represent assumptions developed
using an arithmetic building block approach primarily based on consensus expectations and
market-based inputs. Expected returns are net of investment fees.
The expected returns, along with the expected inflation rate, form the basis for the target asset
allocation adopted at the beginning of the 2025 fiscal year. The long-term expected rate of return is
produced by weighting the expected future real rates of return by the target allocation percentage
and adding expected inflation and is summarized in the table on the following page.
55
NOTES TO FINANCIAL STATEMENTS
NOTE 9. DEFINED BENEFIT PENSION PLAN (CONTINUED)
Long-term Expected Rate of Return (Continued):
For actuarial purposes, the 7 percent assumed annual investment rate of return used in the
calculation of the TPL includes a 4.75 percent real rate of return and a 2.25 percent inflation
component, which is summarized below.
Expected Long-term
Arithmetic Real Expected Portfolio
Allocation/Exposure Policy Target Rate of Return Real Rate of Return
Public Equity 46.0%5.87%2.70%
Bonds 26.0%3.20%0.83%
Private Equity 9.0%8.50%0.77%
Private Debt 7.0%7.40%0.52%
Real Assets 12.0%
Real Estate 9.0%5.00%0.45%
Infrastructure 3.0%7.70%0.23%
100.0%
Total expected real return 5.50%
Inflation for actuarial purposes 2.25%
Total expected nominal return 7.75%
Discount Rate:
The discount rate used to measure the TPL was 7 percent. The projection of cash flows used to
determine the discount rate assumed that contributions from participating employers in SCRS and
PORS will be made based on the actuarially determined rates based on provisions in the South
Carolina Code of Laws. Based on those assumptions, the System’s fiduciary net position was
projected to be available to make all the projected future benefit payments of current plan members.
Therefore, the long-term expected rate of return on pension plan investments was applied to all
periods of projected benefit payments to determine the TPL.
56
NOTES TO FINANCIAL STATEMENTS
NOTE 9. DEFINED BENEFIT PENSION PLAN (CONTINUED)
Sensitivity Analysis:
The following table presents the collective NPL of the participating employers calculated using the
discount rate of 7 percent, as well as what the employers’ NPL would be if it were calculated using a
discount rate that is 1 percent lower (6 percent) or 1 percent higher (8 percent) than the current rate.
Sensitivity of the Net Pension Liability to Changes in the Discount Rate
Current
Discount Rate
(7%)
SCRS $ 21,125,276 $ 15,632,805 $ 11,062,243
PORS $ 11,623,915 $ 7,637,040 $ 4,366,203
(8%)(6%)
1% Decrease 1% Increase
Deferred Outflows and Inflows of Resources Related to Pensions:
At December 31, 2025, the City reported deferred outflows of resources and deferred inflows of
resources related to the SCRS and PORS pension plans, respectively, from the following sources:
SCRS
Differences between expected and actual
experience $ 733,456 $ -
Changes of assumptions 184,758 -
Net difference between projected and actual
earnings on pension plan investments - 1,003,685
Changes in proportionate share and differences
between employer contributions and proportionate
share of total plan employer contributions 428,323 71,016
Employer contributions subsequent to the
measurement date 1,031,058 -
Total $ 2,377,595 $ 1,074,701
Deferred Deferred
Outflows of Inflows of
Resources Resources
57
NOTES TO FINANCIAL STATEMENTS
NOTE 9. DEFINED BENEFIT PENSION PLAN (CONTINUED)
Deferred Outflows and Inflows of Resources Related to Pensions (Continued):
PORS
Differences between expected and actual
experience $ 896,594 $ -
Changes of assumptions 101,491 -
Net difference between projected and actual
earnings on pension plan investments - 719,231
Changes in proportionate share and differences
between employer contributions and proportionate
share of total plan employer contributions 321,334 98,903
Employer contributions subsequent to the
measurement date 633,199 -
Total $ 1,952,618 $ 818,134
Deferred Deferred
Outflows of Inflows of
Resources Resources
City contributions subsequent to the measurement date of $1,031,058 and $633,199 for the SCRS
plan and the PORS plan, respectively, are deferred outflows of resources and will be recognized as
a reduction of the net pension liability in the year ended December 31, 2026. Other amounts
reported as deferred outflows of resources and deferred inflows of resources related to pensions will
be recognized in pension expense as follows:
Year ended December 31: SCRS PORS
2026 $ 689,996 $ 614,321
2027 67,503 205,467
2028 (254,271) (154,712)
2029 (231,392) (163,791)
58
NOTES TO FINANCIAL STATEMENTS
NOTE 9. DEFINED BENEFIT PENSION PLAN (CONTINUED)
Pension Expense:
For the year ended December 31, 2025 (measurement period ended June 30, 2025), the City
recognized its proportionate share of collective pension expense of $991,955 and recognition of
deferred amounts from changes in proportionate share and differences between employer
contributions and the proportionate share of total plan employer contributions of ($126,011) for a
total of $785,944 for the SCRS plan. Additionally, for the year ended December 31, 2025
(measurement period ended June 30, 2025), the City recognized its proportionate share of
collective pension expense of $761,475 and recognition of deferred amounts from changes in
proportionate share and differences between employer contributions and the proportionate share of
total plan employer contributions of $171,948 for a total of $933,423 for the PORS plan. Total
pension expense for both the SCRS plan and the PORS plan amounted to $1,719,367.
NOTE 10. INTERFUND TRANSFERS
The following interfund transfers are reflected in the fund financial statements at December 31,
2025:
Governmental Funds
General Fund $ 1,552,676 $ 58,060
Capital Projects Fund -110,659
Tax Increment Fund -2,556,137
North Augusta Public Facilities Corporation 2,906,137 -
Nonmajor Funds 446 2,523,748
Total Governmental Funds 4,459,259 5,248,604
Enterprise Funds
Water and Wastewater System Fund 157,853 1,122,051
Sanitation Services Fund 2,140,225 428,052
Stormwater Utility Fund 83,476 42,106
Total Enterprise Funds 2,381,554 1,592,209
Total Transfers $ 6,840,813 $ 6,840,813
Transfers In Transfers Out
Interfund transfers include transfers of unrestricted revenues collected in certain enterprise funds to
finance various programs accounted for in the General Fund, in accordance with budgetary
authorizations; and transfers of revenues from the fund that is required to collect them and the fund
that is required or allowed to expend them. Interfund transfers also include transfers of revenues
collected in the Special Revenue funds to make debt service payments in the North Augusta Public
Facility Corporation Fund. Interfund transfers out of the ARPA Fund includes transfers related to
projects obligated for use and reimbursed with ARPA funds but paid out of other funds.
59
NOTES TO FINANCIAL STATEMENTS
NOTE 11. RISK MANAGEMENT
The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of
assets; errors and omissions; injuries to employees; and natural disasters. The City has joined
together with other municipalities in the state to form the South Carolina Municipal Insurance and
Risk Financing Fund (SCMIRF), which is a public entity risk pool currently operating as common
risk management and insurance programs. The City pays a bi-annual premium to SCMIRF for its
general insurance. The SCMIRF is self-sustaining through member premiums and will reinsure
through commercial companies.
The City also has joined together with other municipalities in the state to form the South Carolina
Municipal Insurance Trust (SCMIT), a public entity risk pool operating as a common risk
management and insurance program for worker’s compensation. The City pays a quarterly
premium to SCMIT. The SCMIT is self-sustaining through member premiums and uses
reinsurance agreements to reduce its exposure to large workers’ compensation losses.
There were no significant reductions in insurance coverage during the year. Settlements have not
exceeded insurance coverage for each of the past three years.
The City pays monthly premiums to the Public Employee Benefit Authority for its health and dental
insurance benefits.
NOTE 12. COMMITMENTS
Significant commitments at December 31, 2025, are composed of the following:
Southwest Interceptor Pipeline Rehab $ 8,528,293 $ 5,264,192 $ 3,264,101
Willow Wick Creek Stabilization 105,170 61,012 44,158
Crestview-Woodlawn Drainage Imp 59,800 32,908 26,892
Riverside Village Bollard Project 200,604 - 200,604
Living History Park Restoration 248,000 - 248,000
Georgia Ave Traffic Calming 313,745 122,457 191,288
Project
Authorization
Expended through
December 31, 2025 Commitment
The City has entered into an agreement for the future operations and maintenance of the Savannah
Bluff Lock and Dam for the purpose of maintaining the Augusta Pool. The agreement is between the
City of North Augusta; Aiken County, South Carolina; Augusta, Georgia; and four industrial
stakeholders. The agreement is contingent based on future upgrades of the Savannah Bluff Lock
and Dam by the Corps of Engineers. The agreement calls for the establishment of an escrow
account in the amount of $1,000,000 to be established over a three-year period and funded by the
participating entities. The City established a separate enterprise fund, The Savannah Bluff Lock and
Dam Fund. The fund established by the City will receive all revenues associated with the project
and all direct costs incurred by the contractor or the local sponsors will be paid by the fund. The
escrow account balance of $1,000,000 was fully funded as of December 31, 2009. The Savannah
Bluff Lock and Dam will be operated within the guidelines established by the Corps of Engineers.
The City will not be directly involved in the daily operations of the facility.
60
NOTES TO FINANCIAL STATEMENTS
NOTE 12. COMMITMENTS (CONTINUED)
The City has $3.9 million in outstanding contracts at December 31, 2025, including $3.2 million in
the Water and Wastewater Funds, $280,000 in the General Fund, $200,000 in the North Augusta
Public Facilities Corporation Fund, $190,000 in the Capital Project Sales Tax IV Fund, and $42,000
in the Stormwater Utility Fund.
NOTE 13. CONTINGENCIES
The City is a defendant in various lawsuits. In the opinion of the City’s management and the City
Attorney, the ultimate effect of these matters will not have a material adverse effect on the financial
condition of the City.
NOTE 14. TAX ABATEMENTS
As of December 31, 2025, the City provides tax abatements under an intergovernmental
agreement with Aiken County, South Carolina (the “County”). This agreement is a form of a Fee in
Lieu of Tax Program instigated by the County for the purpose of creating multi-county industrial
and business parks, pursuant to which certain economic incentives are available to companies
locating, improving, or expanding projects within such parks, through which the economic
development of the County and the state will be promoted and trade developed by inducing
manufacturing and certain other business enterprises to locate in and remain in the State of South
Carolina. The Fee in Lieu of Tax (FILOT) is authorized under South Carolina Code of Laws Title
12, Chapter 44, Title 4, Chapter 29, and/or Title 4, Chapter 12. The FILOT is used to encourage
investment and provides a reduction of property tax when a business invests a minimum of
$2,500,000 within a five to six-year investment period (beginning with the date property is initially
placed in service). Property subject to a FILOT agreement is exempt from ad valorem property tax
and is instead subject to a FILOT equal to the product of the value of the property, an assessment
ratio that is generally no lower than 6% (but may be as low as 4% for extraordinary projects that
satisfy the statutory definition of an “enhanced investment”), and a millage rate that is either fixed
for the life of the agreement or is adjusted every five years based on the trailing five-year average.
The reduction in property taxes is accomplished by a reduction of assessed value, reduction in
millage rate and elimination of (or reduction in) number of times millage rates are changed. In
addition, an agreement may allow the possible use of net present value method over term of
FILOT to equalize payments.
Repayment of incentive is required by state law if taxpayers fail to meet statutory minimum
investment requirement. Other recapture provisions may be negotiated (such as a pro rata
clawback for failure to meet and/or maintain jobs/investment).
During the year ended December 31, 2025, the City’s taxes were reduced as a part of the FILOT
agreement previously disclosed in the amount of $22,697.
61
NOTES TO FINANCIAL STATEMENTS
NOTE 15. ACCOUNTING CHANGES
For the year ended December 31, 2025, the City’s ARPA fund does not meet the definition of a
major fund. The effect of this change within the City’s financial reporting entity is shown in the table
below:
Nonmajor
ARPA Governmental
Fund Funds
December 31, 2024, as previously reported 1,019,929$ 6,542,954$
Change from major fund to nonmajor fund (1,019,929) 1,019,929
December 31, 2024, as adjusted -$ 7,562,883$
Funds
Reporting Units Affected by
Adjustments of Beginning
Balances
62
REQUIRED SUPPLEMENTARY INFORMATION
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
FOR THE YEAR ENDED DECEMBER 31,
SOUTH CAROLINA RETIREMENT SYSTEM
Plan year
ended
June 30
City's
proportion of
the net pension
liability
City's
proportionate
share of the net
pension liability
City's covered
payroll
City's share of the net
pension liability as a
percentage of its
covered payroll
Plan fiduciary net
position as a
percentage of the
total pension
liability
2025 0.07%15,632,805$ 10,631,644$ 147.0%66.21%
2024 0.07%16,370,222 9,592,835 170.7%61.79%
2023 0.07%17,040,334 8,911,035 191.2%58.65%
2022 0.07%17,007,612 8,443,681 201.4%57.06%
2021 0.08%16,428,512 8,573,011 191.6%60.75%
2020 0.07%18,721,872 8,173,809 229.0%50.71%
2019 0.08%17,638,284 8,150,277 216.4%54.40%
2018 0.08%17,272,206 7,983,849 216.3%54.10%
2017 0.08%17,231,285 7,723,042 223.1%53.30%
2016 0.08%16,062,609 7,282,122 220.6%52.90%
POLICE OFFICERS RETIREMENT SYSTEM
Plan year
ended
June 30
City's
proportion of
the net pension
liability
City's
proportionate
share of the net
pension liability
City's covered
payroll
City's share of the net
pension liability as a
percentage of its
covered payroll
Plan fiduciary net
position as a
percentage of the
total pension
liability
2025 0.28%7,637,040$ 5,799,778$ 131.7%74.53%
2024 0.27%8,095,602 5,064,016 159.9%70.53%
2023 0.25%7,761,665 4,467,387 173.7%67.79%
2022 0.27%8,146,487 4,208,282 193.6%66.45%
2021 0.25%6,388,029 3,742,475 170.7%70.37%
2020 0.26%8,584,373 3,910,474 219.5%58.79%
2019 0.27%7,744,895 3,919,711 197.6%62.70%
2018 0.28%7,977,432 3,896,877 204.7%61.70%
2017 0.28%7,696,742 3,783,451 203.4%60.90%
2016 0.28%7,039,605 3,538,195 199.0%60.40%
63
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CONTRIBUTIONS
FOR THE YEAR ENDED DECEMBER 31,
SOUTH CAROLINA RETIREMENT SYSTEM
Year ended
December
31
Statutorily
required
contribution
Contributions
relative to
statutorily
required
contribution
Contribution
deficiency
(excess)
City's covered
payroll
Contributions as a
percentage of covered
payroll
2025 $ 2,042,799 $ 2,042,799 $- $ 11,006,457 18.56%
2024 1,881,752 1,881,752 - 10,138,749 18.56%
2023 1,661,729 1,661,729 - 9,199,222 18.06%
2022 1,482,315 1,482,315 - 8,688,722 17.06%
2021 1,356,172 1,356,172 - 8,452,161 16.05%
2020 1,292,391 1,292,391 - 8,305,853 15.56%
2019 1,235,059 1,235,059 - 8,201,611 15.06%
2018 1,128,580 1,128,580 - 8,024,995 14.06%
2017 975,309 975,309 - 7,745,243 12.59%
2016 835,163 835,163 - 7,371,464 11.33%
POLICE OFFICERS RETIREMENT SYSTEM
Year ended
December
31
Statutorily
required
contribution
Contributions
relative to
statutorily
required
contribution
Contribution
deficiency
(excess)
City's covered
payroll
Contributions as a
percentage of covered
payroll
2025 $ 1,257,643 $ 1,257,643 $- $ 5,921,106 21.24%
2024 1,179,581 1,179,581 - 5,553,582 21.24%
2023 970,459 970,459 - 4,677,652 20.75%
2022 860,663 860,663 - 4,361,033 19.74%
2021 724,678 724,678 - 3,862,966 18.76%
2020 694,889 694,889 - 3,809,697 18.24%
2019 702,156 702,156 - 3,957,543 17.74%
2018 655,814 655,814 - 3,918,206 16.74%
2017 575,300 575,300 - 3,769,186 15.26%
2016 504,306 504,306 - 3,599,658 14.01%
64
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CONTRIBUTIONS
FOR THE YEAR ENDED DECEMBER 31,
Note: The actuarial assumptions used to determine the required contributions to the plans as noted on the previous
page are as follows:
System SCRS PORS
Calculation date July 1, 2023 July 1, 2023
Actuarial cost method Entry Age Normal Entry Age Normal
Asset valuation method 5-year Smoothed 5-year Smoothed
Amortization method Level % of pay Level % of pay
Amortization period 25 years maximum,25 years maximum,
closed period closed period
Investment return 7.00%7.00%
Inflation 2.25%2.25%
Salary increases 3.00% plus step-rate increases for members 3.50% plus step-rate increases for members
with less than 21 years of service.with less than 21 years of service.
Mortality 2020 Public Retirees of South Carolina Mortality 2020 Public Retirees of South Carolina Mortality
Tables for Males and Females, both projected Tables for Males and Females, both projected
at Scale UMP from the year 2020. Male rates are at Scale UMP from the year 2020. Male rates are
multiplied by 97% for non-educators and 95% multiplied by 127% and females rates are
for educators. Female rates multiplied by 107% multiplied by 107%.
for non-educators and 94% for educators.
65
Revenues:
Ad valorem property taxes $ 11,224,268 $ 11,224,268 $ 11,065,952 $ (158,316)
Licenses and permits 8,568,706 8,568,706 9,374,411 805,705
Fines and forfeitures 1,215,025 1,215,025 1,072,448 (142,577)
Charges for services 1,614,555 1,614,555 1,873,641 259,086
Intergovernmental 1,891,644 1,891,644 3,443,963 1,552,319
Interest earnings 275,000 275,000 196,110 (78,890)
Miscellaneous 1,053,303 1,053,303 2,021,829 968,526
Total revenues 25,842,501 25,842,501 29,048,354 3,205,853
Expenditures:
Current:
General government 7,969,144 7,969,144 11,425,944 (3,456,800)
Public safety 11,925,132 11,925,132 12,020,595 (95,463)
Public works 1,975,052 1,975,052 1,960,349 14,703
Parks, recreation and tourism 3,812,664 3,812,664 4,295,261 (482,597)
Capital outlay 1,216,063 1,216,063 1,175,563 40,500
Debt service:
Principal retirement 462,340 462,340 624,283 (161,943)
Interest 12,315 12,315 39,736 (27,421)
Total expenditures 27,372,710 27,372,710 31,541,731 (4,169,021)
Deficiency of revenues
under expenditures (1,530,209) (1,530,209) (2,493,377) (963,168)
Other financing sources (uses):
Transfers in 1,530,209 1,530,209 1,552,676 22,467
Transfers out - - (58,060) (58,060)
Total other financing
sources, net 1,530,209 1,530,209 1,494,616 (35,593)
Net change in fund balances - - (998,761) (998,761)
Fund balances, beginning of year 4,730,830 4,730,830 4,730,830 -
Fund balances, end of year $ 4,730,830 $ 4,730,830 $ 3,732,069 $ (998,761)
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 2025
Budget Variance with
Final BudgetOriginalFinalActual
66
OTHER SUPPLEMENTARY INFORMATION
Revenues:
Taxes
Current $ 11,109,268 $11,109,268 $10,873,425 $(235,843)
Delinquent 5,000 5,000 1,220 (3,780)
Penalties 110,000 110,000 191,307 81,307
Total taxes 11,224,268 11,224,268 11,065,952 (158,316)
Licenses and permits
Business licenses 7,918,706 7,918,706 8,416,890 498,184
Building permits 525,000 525,000 770,829 245,829
Electrical permits 35,000 35,000 38,449 3,449
Mechanical permits 35,000 35,000 39,675 4,675
Plumbing permits 20,000 20,000 20,612 612
Grading permits 35,000 35,000 32,106 (2,894)
LOP permits - - 55,850 55,850
Total licenses and permits 8,568,706 8,568,706 9,374,411 805,705
Intergovernmental
State of South Carolina:
State shared revenue 809,910 809,910 1,153,499 343,589
Accommodations tax 95,000 95,000 149,224 54,224
Merchants' inventory tax 54,700 54,700 68,487 13,787
Local option sales tax 65,000 65,000 70,299 5,299
Law enforcement net grant 10,000 10,000 10,014 14
Highway safety grant 190,000 190,000 290,349 100,349
State SRO grant 537,034 537,034 537,285 251
DOJ grant 5,000 5,000 - (5,000)
COPS grant 125,000 125,000 125,000 -
FEMA grant - - 946,309 946,309
NRCS EWP grant - - 93,497 93,497
Total intergovernmental 1,891,644 1,891,644 3,443,963 1,552,319
Charges for services
Fire protection fees 57,800 57,800 56,879 (921)
Customer street light fees 116,610 116,610 116,869 259
Municipal Center rentals 36,000 36,000 39,259 3,259
Recreation fees:
Special programs 10,500 10,500 17,973 7,473
Volleyball 13,915 13,915 16,190 2,275
Soccer 88,710 88,710 89,122 412
Miscellaneous 125,000 125,000 96,915 (28,085)
Basketball 72,415 72,415 72,959 544
Softball 40,700 40,700 40,271 (429)
Football 79,745 79,745 67,542 (12,203)
Baseball 70,790 70,790 65,031 (5,759)
Concession stand 80,000 80,000 129,774 49,774
Community Center fees 78,500 78,500 63,614 (14,886)
Activities Center fees 226,370 226,370 199,657 (26,713)
Recreation facilities rentals 53,000 53,000 58,465 5,465
Activities Center tournaments 464,500 464,500 655,998 191,498
Other tournament rentals - - 83,823 83,823
Cat/dog show revenue - - 3,300 3,300
Total charges for services 1,614,555 1,614,555 1,873,641 259,086
Fines and forfeitures
Public safety fines 1,135,435 1,135,435 1,023,687 (111,748)
Drug related fines 20,000 20,000 600 (19,400)
Victim services 59,590 59,590 48,161 (11,429)
Total fines and forfeitures 1,215,025 1,215,025 1,072,448 (142,577)
(Continued)
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
GENERAL FUND
SCHEDULE OF REVENUES AND EXPENDITURES
COMPARED WITH BUDGET
FOR THE YEAR ENDED DECEMBER 31, 2025
Original Final Actual Final Budget
Budget Variance with
67
Original Final Actual Final Budget
Budget Variance with
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
GENERAL FUND
SCHEDULE OF REVENUES AND EXPENDITURES
COMPARED WITH BUDGET
FOR THE YEAR ENDED DECEMBER 31, 2025
Revenues (Continued):
Miscellaneous
Other $ 819,228 $819,228 $1,707,789 $888,561
Communication tower rental 234,075 234,075 314,040 79,965
Interest earnings 275,000 275,000 196,110 (78,890)
Total miscellaneous 1,328,303 1,328,303 2,217,939 889,636
Total revenues $25,842,501 $ 25,842,501 $ 29,048,354 $3,205,853
68
Expenditures:
General Government
City Council
Personnel services:
Salaries and wages $122,565 $122,565 $123,562 $(997)
FICA 9,377 9,377 8,853 524
Employee retirement 23,361 23,361 21,014 2,347
Employee insurance 28,500 28,500 26,243 2,257
Workers' compensation 3,187 3,187 2,653 534
Operating expenditures:
General supplies/postage 4,300 4,300 4,877 (577)
Dues/training/travel 12,500 12,500 9,714 2,786
Advertising 3,425 3,425 4,767 (1,342)
Professional services 12,100 12,100 17,444 (5,344)
Special department supplies 3,250 3,250 215 3,035
Insurance 3,214 3,214 2,840 374
Contingencies 2,000 2,000 -2,000
Total city council 227,779 227,779 222,182 5,597
City Administration
Personnel services:
Salaries and wages 340,523 340,523 341,657 (1,134)
FICA 26,050 26,050 24,539 1,511
Employee retirement 64,904 64,904 63,155 1,749
Employee insurance 19,000 19,000 17,495 1,505
Workers' compensation 9,444 9,444 7,862 1,582
Operating expenditures:
General supplies/postage 2,000 2,000 1,261 739
Dues/training/travel 17,000 17,000 10,180 6,820
Auto operating --304 (304)
Contracts/repairs 5,000 5,000 5,856 (856)
Professional services 47,500 47,500 24,279 23,221
Special department supplies --405 (405)
Insurance 14,768 14,768 13,047 1,721
Contingencies 50,000 50,000 42,360 7,640
Disaster relief efforts --3,626,335 (3,626,335)
Total city administration 596,189 596,189 4,178,735 (3,582,546)
Justice and Law
Personnel services:
Salaries and wages 316,399 316,399 235,316 81,083
Overtime pay --2,878 (2,878)
FICA 24,205 24,205 17,414 6,791
Employee retirement 56,875 56,875 38,557 18,318
Employee insurance 38,000 38,000 25,013 12,987
Workers' compensation 3,447 3,447 17,954 (14,507)
Operating expenditures:
General supplies/postage 4,000 4,000 6,045 (2,045)
State fees/fines 479,700 479,700 587,513 (107,813)
Dues/training/travel 6,250 6,250 1,674 4,576
Data processing 3,680 3,680 480 3,200
Utility services 700 700 481 219
Contracts/repairs 2,000 2,000 2,070 (70)
Jury services 3,200 3,200 120 3,080
Professional services 25,320 25,320 17,928 7,392
Juvenile detention 3,000 3,000 10,685 (7,685)
Special department supplies --320 (320)
Insurance 64,842 64,842 57,287 7,555
Total justice and law 1,031,618 1,031,618 1,021,735 9,883
(Continued)
Budget Variance with
Actual Final BudgetOriginalFinal
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
GENERAL FUND
SCHEDULE OF REVENUES AND EXPENDITURES
COMPARED WITH BUDGET
FOR THE YEAR ENDED DECEMBER 31, 2025
69
Budget Variance with
Actual Final BudgetOriginalFinal
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
GENERAL FUND
SCHEDULE OF REVENUES AND EXPENDITURES
COMPARED WITH BUDGET
FOR THE YEAR ENDED DECEMBER 31, 2025
Expenditures (Continued):
General Government (Continued)
Community Promotion
Operating expenditures:
Contributions $31,050 $31,050 $21,972 $9,078
Dues/training/travel 6,113 6,113 6,113 -
Advertising 5,000 5,000 970 4,030
Professional services 1,800 1,800 10,498 (8,698)
Special department supplies 13,450 13,450 21,442 (7,992)
Insurance 6,985 6,985 6,171 814
Community policing --290 (290)
Total community promotion 64,398 64,398 67,456 (3,058)
Finance
Personnel services:
Salaries and wages 392,653 392,653 386,929 5,724
Overtime pay --1,743 (1,743)
FICA 30,038 30,038 28,632 1,406
Employee retirement 74,840 74,840 71,787 3,053
Employee insurance 45,125 45,125 39,056 6,069
Workers' compensation 8,718 8,718 7,257 1,461
Operating expenditures:
General supplies/postage 20,000 20,000 15,809 4,191
Dues/training/travel 2,550 2,550 2,415 135
Auto operating 2,500 2,500 568 1,932
Data processing 203,500 203,500 174,521 28,979
Contracts/repairs 900 900 370 530
Uniforms/clothing 200 200 -200
Advertising 1,600 1,600 660 940
Professional services 34,600 34,600 45,438 (10,838)
Special department supplies 1,600 1,600 747 853
Insurance 14,292 14,292 12,627 1,665
Total finance 833,116 833,116 788,559 44,557
City Buildings
Personnel services:
Salaries and wages 89,189 89,189 89,834 (645)
FICA 6,823 6,823 6,584 239
Employee retirement 17,000 17,000 16,553 447
Employee insurance 19,000 19,000 17,495 1,505
Workers' compensation 2,181 2,181 1,816 365
Operating expenditures:
General supplies/postage 31,250 31,250 41,137 (9,887)
Utility services 218,150 218,150 431,882 (213,732)
Contracts/repairs 74,035 74,035 50,837 23,198
Building materials 1,200 1,200 1,368 (168)
Professional services 7,000 7,000 9,163 (2,163)
Special department supplies 1,500 1,500 1,166 334
Insurance 37,658 37,658 33,270 4,388
Capital outlay
Machines/equipment 4,800 4,800 3,235 1,565
Total city buildings 509,786 509,786 704,340 (194,554)
Building Standards
Personnel services:
Salaries and wages 438,177 438,177 433,230 4,947
Overtime pay --778 (778)
FICA 33,521 33,521 31,551 1,970
Employee retirement 83,517 83,517 79,979 3,538
Employee insurance 68,875 68,875 58,431 10,444
Workers' compensation 9,506 9,506 7,913 1,593
(Continued)
70
Budget Variance with
Actual Final BudgetOriginalFinal
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
GENERAL FUND
SCHEDULE OF REVENUES AND EXPENDITURES
COMPARED WITH BUDGET
FOR THE YEAR ENDED DECEMBER 31, 2025
Expenditures (Continued):
General Government (Continued)
Building Standards (Continued)
Operating expenditures:
General supplies/postage $3,000 $3,000 $2,366 $634
Dues/training/travel 5,700 5,700 5,504 196
Auto operating 9,950 9,950 7,496 2,454
Utility services 5,500 5,500 2,405 3,095
Data processing 9,100 9,100 14,368 (5,268)
Contracts/repairs 900 900 1,157 (257)
Building materials 400 400 46 354
Uniforms/clothing 2,400 2,400 2,139 261
Professional services 2,500 2,500 38,857 (36,357)
Special department supplies 2,200 2,200 1,618 582
Insurance 7,601 7,601 12,957 (5,356)
Capital outlay:
Vehicles 28,000 28,000 27,944 56
Total building standards 710,847 710,847 728,739 (17,892)
Human Resources
Personnel services:
Salaries and wages 168,392 168,392 159,983 8,409
Overtime pay - - 1,989 (1,989)
FICA 12,882 12,882 12,130 752
Employee retirement 32,096 32,096 29,936 2,160
Employee insurance 19,000 19,000 17,495 1,505
Workers' compensation 4,238 4,238 3,528 710
Operating expenditures:
General supplies/postage 2,800 2,800 1,518 1,282
Dues/training/travel 6,000 6,000 5,114 886
Data processing 2,220 2,220 1,963 257
Contracts/repairs 1,000 1,000 1,236 (236)
Advertising 3,500 3,500 - 3,500
Professional services 40,294 40,294 36,143 4,151
Special department supplies 48,700 48,700 33,342 15,358
Insurance 12,696 12,696 11,217 1,479
Capital outlay:
Furniture/fixtures 11,000 11,000 - 11,000
Total human resources 364,818 364,818 315,594 49,224
Planning and Development
Personnel services:
Salaries and wages 508,988 508,988 517,805 (8,817)
Overtime pay - - 167 (167)
FICA 38,938 38,938 38,860 78
Employee retirement 97,013 97,013 99,078 (2,065)
Employee insurance 66,500 66,500 61,233 5,267
Workers' compensation 12,259 12,259 10,205 2,054
Operating expenditures:
General supplies/postage 3,500 3,500 2,614 886
Dues/training/travel 4,500 4,500 3,155 1,345
Auto operating 6,525 6,525 2,368 4,157
Utility services 1,000 1,000 962 38
Data processing 625 625 1,076 (451)
Contracts/repairs 3,000 3,000 3,376 (376)
Advertising 2,000 2,000 2,275 (275)
Professional services 125,000 125,000 2,088 122,912
Special department supplies 3,000 3,000 350 2,650
Insurance 22,053 22,053 19,483 2,570
Capital outlay:
Downtown development 25,000 25,000 29,066 (4,066)
Furniture/fixtures 2,500 2,500 - 2,500
Vehicles 30,000 30,000 30,112 (112)
Total planning and development 952,401 952,401 824,273 128,128
(Continued)
71
Budget Variance with
Actual Final BudgetOriginalFinal
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
GENERAL FUND
SCHEDULE OF REVENUES AND EXPENDITURES
COMPARED WITH BUDGET
FOR THE YEAR ENDED DECEMBER 31, 2025
Expenditures (Continued):
General Government (Continued)
Property Maintenance
Personnel services:
Salaries and wages $895,294 $895,294 $830,311 $64,983
Overtime pay 27,551 27,551 33,838 (6,287)
FICA 70,598 70,598 63,601 6,997
Employee retirement 175,895 175,895 158,978 16,917
Employee insurance 171,000 171,000 157,455 13,545
Workers' compensation 21,749 21,749 18,423 3,326
Operating expenditures:
General supplies/postage 1,233 1,233 1,285 (52)
Dues/training/travel 3,400 3,400 4,425 (1,025)
Auto operating 42,450 42,450 46,134 (3,684)
Utility services 17,844 17,844 20,389 (2,545)
Contracts/repairs 50,493 50,493 67,037 (16,544)
Building materials/supplies 800 800 1,151 (351)
Uniforms/clothing 12,950 12,950 15,007 (2,057)
Professional services 81,900 81,900 95,981 (14,081)
Special department supplies 226,950 226,950 253,753 (26,803)
Insurance 56,262 56,262 50,131 6,131
Capital outlay:
Machines/equipment 66,005 66,005 51,734 14,271
Vehicles 37,258 37,258 38,470 (1,212)
Total property maintenance 1,959,632 1,959,632 1,908,103 51,529
Information Technology
Personnel services:
Salaries and wages 306,458 306,458 305,174 1,284
Overtime pay --1,013 (1,013)
FICA 23,444 23,444 22,796 648
Employee retirement 58,411 58,411 56,102 2,309
Employee insurance 38,000 38,000 34,990 3,010
Workers' compensation 7,779 7,779 6,476 1,303
Operating expenditures:
General supplies/postage 5,900 5,900 4,011 1,889
Dues/training/travel 12,350 12,350 255 12,095
Auto operating 2,862 2,862 250 2,612
Utility services 96,700 96,700 195,315 (98,615)
Data processing 122,900 122,900 75,605 47,295
Contracts/repairs 183,600 183,600 86,962 96,638
Professional services --662 (662)
Insurance 64,719 64,719 57,178 7,541
Capital outlay:
Machines/equipment 36,000 36,000 34,668 1,332
Total information technology 959,123 959,123 881,457 77,666
Total current general government 7,969,144 7,969,144 11,425,944 (3,456,800)
Total capital outlay general government 240,563 240,563 215,229 25,334
Total general government 8,209,707 8,209,707 11,641,173 (3,431,466)
Public Safety
Personnel services:
Salaries and wages 6,539,783 6,539,783 6,608,815 (69,032)
Overtime pay 426,200 426,200 477,009 (50,809)
FICA 532,311 532,311 517,437 14,874
Employee retirement 1,428,407 1,428,407 1,405,983 22,424
Employee insurance 954,750 954,750 864,891 89,859
Workers' compensation 163,706 163,706 160,658 3,048
(Continued)
72
Budget Variance with
Actual Final BudgetOriginalFinal
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
GENERAL FUND
SCHEDULE OF REVENUES AND EXPENDITURES
COMPARED WITH BUDGET
FOR THE YEAR ENDED DECEMBER 31, 2025
Expenditures (Continued):
Public Safety (Continued)
Operating expenditures:
General supplies/postage $31,300 $31,300 $18,499 $12,801
Dues/training/travel 117,150 117,150 102,904 14,246
Auto operating 466,250 466,250 547,914 (81,664)
Utility services 10,000 10,000 3,278 6,722
Data processing 304,710 304,710 212,068 92,642
Contracts/repairs 110,600 110,600 115,956 (5,356)
Uniforms/clothing 258,125 258,125 220,047 38,078
CVA expenditures 38,400 38,400 38,965 (565)
LEN grant 10,000 10,000 4,457 5,543
SRO grant - - 12,877 (12,877)
Community policing 19,500 19,500 37,751 (18,251)
NAPS drug related 20,000 20,000 7,370 12,630
Professional services 29,700 29,700 24,029 5,671
Animal control services 28,000 28,000 25,974 2,026
Special department supplies 194,200 194,200 292,194 (97,994)
Insurance 242,040 242,040 321,519 (79,479)
Capital outlay:
Vehicles 656,000 656,000 678,071 (22,071)
Buildings/fixed equipment 8,000 8,000 7,507 493
Machines/equipment 81,500 81,500 80,037 1,463
Total current public safety 11,925,132 11,925,132 12,020,595 (95,463)
Total capital outlay public safety 745,500 745,500 765,615 (20,115)
Total public safety 12,670,632 12,670,632 12,786,210 (115,578)
Public Works
Engineering
Personnel services:
Salaries and wages 272,407 272,407 289,599 (17,192)
Overtime pay - - 232 (232)
FICA 20,840 20,840 21,765 (925)
Employee retirement 51,921 51,921 53,491 (1,570)
Employee insurance 38,000 38,000 31,664 6,336
Workers' compensation 6,137 6,137 5,109 1,028
Operating expenditures:
General supplies/postage 500 500 200 300
Dues/training/travel 4,325 4,325 4,622 (297)
Auto operating 5,200 5,200 2,487 2,713
Utility services 3,100 3,100 1,364 1,736
Data processing 7,700 7,700 6,635 1,065
Contracts/repairs 300 300 799 (499)
Uniforms/clothing 1,100 1,100 1,014 86
Special department supplies 1,500 1,500 1,222 278
Insurance 2,997 2,997 2,648 349
Capital outlay:
Automotive equipment 28,000 28,000 28,368 (368)
Total engineering 444,027 444,027 451,219 (7,192)
Street Lighting and Traffic Signals
Operating expenditures:
Utility services 432,000 432,000 511,122 (79,122)
Contracts/repairs 5,000 5,000 62 4,938
Building materials/supplies - - 206 (206)
City improvements - - 580 (580)
Special department supplies 14,000 14,000 7,414 6,586
Insurance 56,405 56,405 49,833 6,572
Total street lighting and traffic signals 507,405 507,405 569,217 (61,812)
(Continued)
73
Budget Variance with
Actual Final BudgetOriginalFinal
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
GENERAL FUND
SCHEDULE OF REVENUES AND EXPENDITURES
COMPARED WITH BUDGET
FOR THE YEAR ENDED DECEMBER 31, 2025
Expenditures (Continued):
Public Works (Continued)
Streets and Drains
Personnel services:
Salaries and wages $534,310 $534,310 $513,071 $21,239
Overtime pay 7,000 7,000 3,534 3,466
FICA 41,411 41,411 37,936 3,475
Employee retirement 103,174 103,174 95,896 7,278
Employee insurance 95,000 95,000 87,475 7,525
Workers' compensation 13,931 13,931 11,842 2,089
Operating expenditures:
General supplies/postage 1,000 1,000 77 923
Dues/training/travel 2,900 2,900 1,409 1,491
Auto operating 50,000 50,000 37,905 12,095
Utility services 3,000 3,000 1,791 1,209
Contracts/repairs 20,912 20,912 27,213 (6,301)
Building materials/supplies 82,500 82,500 76,543 5,957
Uniforms/clothing 9,800 9,800 8,306 1,494
Professional services 19,270 19,270 11,348 7,922
Special department supplies 25,500 25,500 16,907 8,593
Insurance 41,912 41,912 37,028 4,884
Capital outlay:
Machines/equipment 22,500 22,500 20,027 2,473
Total streets and drains 1,074,120 1,074,120 988,308 85,812
Total current public works 1,975,052 1,975,052 1,960,349 14,703
Total capital outlay public works 50,500 50,500 48,395 2,105
Total public works 2,025,552 2,025,552 2,008,744 16,808
Parks, Recreation, and Tourism
Recreation
Personnel services:
Salaries and wages 571,123 571,123 564,061 7,062
Overtime pay 13,500 13,500 17,425 (3,925)
FICA 44,724 44,724 43,139 1,585
Employee retirement 111,430 111,430 107,563 3,867
Employee insurance 85,500 85,500 75,402 10,098
Workers' compensation 13,582 13,582 11,306 2,276
Operating expenditures:
General supplies/postage 2,400 2,400 2,579 (179)
Dues/training/travel 7,375 7,375 8,489 (1,114)
Auto operating 4,925 4,925 1,796 3,129
Data processing - - 413 (413)
Contracts/repairs 5,500 5,500 5,983 (483)
Uniforms/clothing 900 900 499 401
Advertising 650 650 1,049 (399)
Tournaments/special events - - 6,121 (6,121)
Professional services 6,000 6,000 7,770 (1,770)
Special department supplies 8,000 8,000 6,613 1,387
Basketball program 70,500 70,500 78,358 (7,858)
Softball program 50,000 50,000 57,269 (7,269)
Football program 82,000 82,000 70,575 11,425
Baseball program 69,665 69,665 88,510 (18,845)
Soccer program 79,000 79,000 50,012 28,988
Volleyball program 12,500 12,500 22,401 (9,901)
Concession stand supplies 65,000 65,000 150,767 (85,767)
Insurance 57,337 57,337 50,656 6,681
Capital outlay:
Furniture/fixtures 2,500 2,500 - 2,500
Buildings/fixed equipment 30,000 30,000 - 30,000
Total recreation 1,394,111 1,394,111 1,428,756 (34,645)
(Continued)
74
Budget Variance with
Actual Final BudgetOriginalFinal
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
GENERAL FUND
SCHEDULE OF REVENUES AND EXPENDITURES
COMPARED WITH BUDGET
FOR THE YEAR ENDED DECEMBER 31, 2025
Expenditures (Continued):
Parks, Recreation, and Tourism (Continued)
Parks
Personnel services:
Salaries and wages $376,607 $376,607 $338,596 $38,011
Overtime pay 16,063 16,063 19,083 (3,020)
FICA 30,040 30,040 25,983 4,057
Employee retirement 74,843 74,843 66,182 8,661
Employee insurance 76,000 76,000 69,980 6,020
Workers' compensation 10,180 10,180 19,445 (9,265)
Operating expenditures:
General supplies/postage 1,500 1,500 2,275 (775)
Dues/training/travel 2,100 2,100 43 2,057
Auto operating 16,425 16,425 22,920 (6,495)
Utility services 25,000 25,000 22,140 2,860
Contracts/repairs 85,000 85,000 114,872 (29,872)
Building materials/supplies 10,000 10,000 25,206 (15,206)
Uniforms/clothing 1,500 1,500 4,685 (3,185)
Professional services 20,000 20,000 10,000 10,000
Special department supplies 5,000 5,000 10,473 (5,473)
Insurance 21,143 21,143 20,511 632
Capital outlay:
Machines/equipment 147,000 147,000 145,623 1,377
Total parks 918,401 918,401 918,017 384
Tourism Facilities
Personnel services:
Salaries and wages 50,525 50,525 51,268 (743)
Overtime pay 2,500 2,500 2,241 259
FICA 4,057 4,057 3,998 59
Employee retirement 10,107 10,107 9,867 240
Employee insurance 9,500 9,500 8,748 752
Workers' compensation 1,256 1,256 1,046 210
Operating expenditures:
General supplies/postage 3,550 3,550 1,488 2,062
Dues/training/travel 500 500 -500
Auto operating 1,000 1,000 1,006 (6)
Utility services 30,000 30,000 19,272 10,728
Data processing 2,400 2,400 3,149 (749)
Contracts/repairs 17,200 17,200 8,500 8,700
Building materials/supplies --622 (622)
Uniforms/clothing 1,000 1,000 294 706
Professional services 23,220 23,220 7,875 15,345
Special department supplies 11,000 11,000 4,934 6,066
Insurance 8,570 8,570 7,571 999
Total tourism facilities 176,385 176,385 131,879 44,506
RVP Activities Center
Personnel services:
Salaries and wages 320,850 320,850 340,261 (19,411)
Overtime pay 11,000 11,000 18,539 (7,539)
FICA 25,387 25,387 26,292 (905)
Employee retirement 63,251 63,251 66,046 (2,795)
Employee insurance 52,250 52,250 44,786 7,464
Workers' compensation 7,351 7,351 6,119 1,232
(Continued)
75
Budget Variance with
Actual Final BudgetOriginalFinal
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
GENERAL FUND
SCHEDULE OF REVENUES AND EXPENDITURES
COMPARED WITH BUDGET
FOR THE YEAR ENDED DECEMBER 31, 2025
Expenditures (Continued):
Parks, Recreation, and Tourism (Continued)
RVP Activities Center (Continued)
Operating expenditures:
General supplies/postage $22,500 $22,500 $35,462 $(12,962)
Dues/training/travel 900 900 59 841
Auto operating 2,025 2,025 - 2,025
Utility services 500 500 141 359
Data processing 16,700 16,700 17,007 (307)
Contracts/repairs 117,600 117,600 137,154 (19,554)
Uniforms/clothing 700 700 - 700
Advertising 1,100 1,100 - 1,100
Building materials/supplies - - 1,574 (1,574)
Professional services - - 95 (95)
Tournaments/special events 370,000 370,000 676,310 (306,310)
Special department supplies 13,600 13,600 5,348 8,252
Insurance 54,575 54,575 48,216 6,359
Capital outlay:
Machines/equipment - - 701 (701)
Total RVP activities center 1,080,289 1,080,289 1,424,110 (343,821)
Tourism
Personnel services:
Salaries and wages 87,489 87,489 87,928 (439)
Overtime pay - - 991 (991)
FICA 6,693 6,693 6,635 58
Employee retirement 16,676 16,676 16,329 347
Employee insurance 9,500 9,500 8,748 752
Workers' compensation 2,166 2,166 1,803 363
Operating expenditures:
General supplies/postage 1,000 1,000 1,020 (20)
Dues/training/travel 3,500 3,500 2,508 992
Auto operating 17,500 17,500 4,501 12,999
Contracts/repairs - - 18 (18)
Uniforms/clothing - - 260 (260)
Advertising 2,500 2,500 - 2,500
Tourism events/festivals/supplies 250,000 250,000 380,078 (130,078)
Concession stand supplies - - 275 (275)
Special department supplies 25,954 25,954 918 25,036
Insurance - - 26,811 (26,811)
Total tourism 422,978 422,978 538,823 (115,845)
Total current parks, recreation, and tourism 3,812,664 3,812,664 4,295,261 (482,597)
Total capital outlay parks, recreation, and tourism 179,500 179,500 146,324 33,176
Total parks, recreation, and tourism 3,992,164 3,992,164 4,441,585 (449,421)
Debt Service:
Principal retirement 462,340 462,340 624,283 (161,943)
Interest 12,315 12,315 39,736 (27,421)
Total debt service 474,655 474,655 664,019 (189,364)
Total expenditures $27,372,710 $ 27,372,710 $ 31,541,731 $ (4,169,021)
76
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
DECEMBER 31, 2025
Total
Special Capital Nonmajor
Revenue Projects Governmental
ASSETS Funds Funds Funds
Cash and cash equivalents $ 10,260,065 $ 442,885 $ 10,702,950
Accounts receivable 4,751 - 4,751
Intergovernmental receivables 68,909 - 68,909
Total assets $ 10,333,725 $ 442,885 $ 10,776,610
LIABILITIES AND FUND BALANCES
LIABILITIES
Accounts payable $27,618 $959 $28,577
Accrued liabilities 393 - 393
Unearned revenue 109,987 - 109,987
Total liabilities 137,998 959 138,957
FUND BALANCES
Restricted:
Public safety - fire division 165,230 - 165,230
Special projects 10,030,497 - 10,030,497
Capital projects - 100,000 100,000
Committed:
Capital projects - 331,517 331,517
Assigned:
Capital projects - 10,409 10,409
Total fund balances 10,195,727 441,926 10,637,653
Total liabilities and fund balances $ 10,333,725 $ 442,885 $ 10,776,610
77
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2025
Total
Special Capital Nonmajor
Revenue Projects Governmental
Funds Funds Funds
Revenues:
Intergovernmental $ 1,332,200 $ - $ 1,332,200
Local hospitality and accommodations taxes 3,495,366 - 3,495,366
Charges for services - 101,160 101,160
Interest earnings 1,354,194 10,162 1,364,356
Miscellaneous 1,755,764 - 1,755,764
Total revenues 7,937,524 111,322 8,048,846
Expenditures:
Current:
General government 347,852 - 347,852
Public safety 232,799 - 232,799
Public works 457,852 101,857 559,709
Parks, recreation & tourism 933,077 - 933,077
Capital outlay 368,354 8,983 377,337
Total expenditures 2,339,934 110,840 2,450,774
Excess of revenues over expenditures 5,597,590 482 5,598,072
Other financing sources (uses):
Transfers in 446 - 446
Transfers out (2,523,748) - (2,523,748)
Total other financing uses, net (2,523,302) - (2,523,302)
Net change in fund balances 3,074,288 482 3,074,770
Fund balances, beginning of year,
as previously reported 6,101,510 441,444 6,542,954
Adjustment - change within reporting entity 1,019,929 - 1,019,929
Fund balances, beginning of year
as adjusted 7,121,439 441,444 7,562,883
Fund balances, end of year $ 10,195,727 $ 441,926 $ 10,637,653
78
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
SPECIAL REVENUE FUNDS
Special Revenue Funds are used to account for specific revenue received which is restricted to expenditures for
particular purposes (other than capital projects). The City currently has established the following Special Revenue
Funds:
Accommodations Tax Fund – This fund is used to account for the receipt and disbursement of money from the
state accommodations tax for the purpose of assisting in the development of innovative and/or effective tourism
promotion projects at the local level.
Fireman’s Fund – This fund is used to account for the receipt and disbursement of money from the one percent tax
through the South Carolina State Firefighters’ Association to be used to benefit firefighters that the department
resources do not provide.
Riverfront/Central Core Redevelopment Fund – This fund is used for the receipt and disbursement of City
hospitality and accommodations tax funds for projects in the redevelopment of the downtown area and the
development of the riverfront and Riverside Village.
Savannah River Settlement Fund – The source of revenue appropriated in this section is the August 31, 2020
settlement of the lawsuit between the State of South Carolina and the United States Department of Energy (DOE)
concerning the termination of the Mixed Dioxide Fuel Fabrication Facility at the Savannah River Site (SRS) and the
DOE’s failure to remove the plutonium stored at the SRS which is located in Aiken, Barnwell, and Allendale
Counties. The expenditure authorizations contained in this section are for the maximum amounts that may be
disbursed or expended by the receiving government entity. All disbursals and expenditures must be made in
compliance with the provisions contained in this act. The City of North Augusta was approved for the following
projects: New Savannah Bluff Lock and Dam Redevelopment ($20,000,000), Cyber Initiative Infrastructure
($15,000,000), and Regional Solid Waste Transfer Station ($2,000,000).
ARPA Fund – This fund is used to account for the receipt of the Coronavirus State and Local Fiscal Recovery Fund
(SLFRF) allocation from the State of South Carolina as appropriated by the American Rescue Plan Act of 2021 as
well as to account for the disbursement of funds for general government services and infrastructure projects as
allowed under the U.S. Department of Treasury's Final Rule.
ASSETSCash and cash equivalents$ 619,858 $ 167,095 $ 7,341,008 $ 944,381 $ 1,187,723 $ 10,260,065 Accounts receivable- - 4,751- - 4,751 Intergovernmental receivable68,909- - - - 68,909 Total assets$ 688,767 $ 167,095 $ 7,345,759 $ 944,381 $ 1,187,723 $ 10,333,725 LIABILITIES AND FUND BALANCESLIABILITIESAccounts payable$18,696 $1,865 $2,439 $4,618 $- $27,618 Unearned revenue- - - - 109,987 109,987 Accrued liabilities- - 393 - - 393 Total liabilities18,696 1,865 2,832 4,618 109,987 137,998 FUND BALANCES Restricted: Public safety - fire division- 165,230 - - - 165,230 Special projects670,071 - 7,342,927 939,763 1,077,736 10,030,497 Total fund balances670,071 165,230 7,342,927 939,763 1,077,736 10,195,727 Total liabilities and fund balances$ 688,767 $ 167,095 $ 7,345,759 $ 944,381 $ 1,187,723 $ 10,333,725 Savannah RiverSettlementFundARPAFund(Previously Major)Fireman'sFundRedevelopmentFundCITY OF NORTH AUGUSTA, SOUTH CAROLINACOMBINING BALANCE SHEET NONMAJOR SPECIAL REVENUE FUNDS DECEMBER 31, 2025NonmajorSpecial Revenue Funds AccommodationsRiverfront/Central CoreTotalSpecial RevenueFundsTaxFund79
Revenues:Local hospitality and accommodations taxes $ - $- $ 3,495,366 $-$- $ 3,495,366 Intergovernmental372,970106,336- - 852,894 1,332,200 Interest earnings7,532885156,5621,131,40857,8071,354,194 Miscellaneous- - 9111,754,853 - 1,755,764 Total revenues380,502 107,221 3,652,839 2,886,261 910,701 7,937,524 Expenditures:Current:General government- - 320,482-27,370347,852 Public safety- 78,204-- 154,595232,799 Public works- -- 23,154434,698457,852 Parks, recreation and tourism288,989- 644,088-- 933,077 Capital outlay- - 154,847-213,507368,354 Total expenditures288,989 78,2041,119,417 23,154830,170 2,339,934 Excess of revenues over expenditures91,51329,0172,533,422 2,863,107 80,5315,597,590 Other financing sources (uses) Transfers in- - 446- - 446 Transfers out- - (390,075) (2,110,949) (22,724) (2,523,748) Total other financing uses, net-- (389,629) (2,110,949) (22,724) (2,523,302) Net change in fund balances91,51329,0172,143,793 752,158 57,8073,074,288 Fund balances, beginning of year, as previously reported578,558136,2135,199,134187,605 - 6,101,510 Adjustment - change within reporting entity - - - - 1,019,929 1,019,929Fund balances, beginning of year, as adjusted578,558136,2135,199,134187,6051,019,9297,121,439Fund balances, end of year$ 670,071 $ 165,230 $ 7,342,927 $ 939,763 $ 1,077,736 $ 10,195,727 Riverfront/Savannah RiverSettlementRedevelopmentFundCentral CoreFundsTotalFundSpecial RevenueNonmajorCITY OF NORTH AUGUSTA, SOUTH CAROLINACOMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCESFOR THE YEAR ENDED DECEMBER 31, 2025Special Revenue Funds NONMAJOR SPECIAL REVENUE FUNDS TaxFundAccommodationsFireman'sFundARPAFund(Previously Major)80
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
CAPITAL PROJECTS FUNDS
Capital Projects Funds are used to account for financial resources used for the acquisition of/for construction of
major capital facilities (other than those financed by the Proprietary Fund). The primary sources of money, in these
funds, are the proceeds of general obligation bond issues and interest earnings.
Sales Tax III Fund – This fund is used to account for the receipt and disbursement of money from county-wide
capital project sales tax.
Street Improvement Fund – This fund is used to account for the receipt and disbursement of money related to the
maintenance, repair, and construction of streets and related infrastructure.
Transportation Improvement Fund – This fund is used to account for the receipt and disbursement of money
related to the maintenance, repair, and construction of streets and related infrastructure.
Impact Fees Fund – This fund is used to account for one-time impact fees imposed on developers to offset the
costs of new or expanded infrastructure necessitated by growth and development. Impact fees are assessed in the
areas of Parks and Recreation, Sanitation, Water, and Wastewater.
NonmajorCapital ProjectsFundsASSETSCash and cash equivalents $ - $240,959 $100,751 $101,175 $442,885 Total assets$- $240,959 $100,751 $101,175 $442,885 LIABILITIES AND FUND BALANCESLIABILITIESAccounts payable$- $959 $- $- $959 Total liabilities- 959 - - 959 FUND BALANCES Restricted: Capital projects- 100,000 - - 100,000 Committed: Capital projects- 140,000 90,342 101,175 331,517 Assigned: Capital projects- - 10,409 - 10,409 Total fund balances- 240,000 100,751 101,175 441,926 Total liabilities and fund balances$- $240,959 $100,751 $101,175 $442,885 Transportation ImprovementSales Tax IIIFundFundImprovementsFundStreet TotalCITY OF NORTH AUGUSTA, SOUTH CAROLINACOMBINING BALANCE SHEET NONMAJOR CAPITAL PROJECTS FUNDS DECEMBER 31, 2025Capital Projects FundsImpact FeesFund81
NonmajorCapital ProjectsFundsRevenues:Charges for services $ - $- $- $ 101,160 $ 101,160 Interest earnings59,0531,0891510,162 Total revenues59,0531,089101,175 111,322 Expenditures:Current:Public works- 101,857-- 101,857 Capital outlay8,983- - - 8,983 Total expenditures8,983101,857 - - 110,840 Net change in fund balances(8,978)(92,804) 1,089101,175 482Fund balances, beginning of year8,978332,80499,662-441,444Fund balances, end of year$- $ 240,000 $ 100,751 $ 101,175 $ 441,926 FundFundFundSales Tax IIIImpact FeesFundTotalCITY OF NORTH AUGUSTA, SOUTH CAROLINACOMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCESNONMAJOR CAPITAL PROJECTS FUNDS FOR THE YEAR ENDED DECEMBER 31, 2025Capital Projects FundsTransportation Improvements ImprovementStreet 82
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
Budget Actual
OPERATING REVENUES
Water sales $ 4,016,426 $ 4,105,260 $ 88,834
Sewer sales 8,782,146 8,800,221 18,075
Water tap fees 163,000 301,410 138,410
Sewer tap fees 211,900 346,597 134,697
Fire protection fees 14,984 15,754 770
Other 706,946 310,965 (395,981)
Total operating revenues 13,895,402 13,880,207 (15,195)
OPERATING EXPENSES
Utilities finance 908,601 772,252 136,349
Utilities administration 574,313 594,751 (20,438)
Water operations and maintenance 1,351,197 1,007,669 343,528
Water production and treatment 1,969,113 1,829,902 139,211
Wastewater operations and maintenance 7,533,993 7,456,488 77,505
Depreciation and amortization - 1,863,504 (1,863,504)
Total operating expenses 12,337,217 13,524,566 (1,187,349)
Operating income 1,558,185 355,641 (1,202,544)
NONOPERATING REVENUE (EXPENSE)
Interest income 200,000 569,282 369,282
Gain on sale of capital assets - 23,010 23,010
Interest expense - (242,746) (242,746)
Intergovernmental - 4,512,277 4,512,277
Total nonoperating revenues, net 200,000 4,861,823 4,661,823
Income before capital contributions and transfers 1,758,185 5,217,464 3,459,279
CAPITAL CONTRIBUTIONS - 1,240,779 1,240,779
TRANSFERS
Transfers in 113,499 157,853 44,354
Transfers out (2,459,757) (1,122,051) 1,337,706
Total transfers (2,346,258) (964,198) 1,382,060
Change in net position (588,073) 5,494,045 6,082,118
Total net position, beginning of year,73,228,573 73,228,573 -
Total net position, end of year $ 72,640,500 $ 78,722,618 $ 6,082,118
WATER AND WASTEWATER SYSTEM FUND
SCHEDULE OF REVENUES AND EXPENSES
BUDGET AND ACTUAL - GAAP BASIS
FOR THE YEAR ENDED DECEMBER 31, 2025
Variance with
Budget
83
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
Budget Actual
OPERATING EXPENSES
Utilities Finance:
Personnel services:
Salaries and wages $ 278,010 $ 270,621 $ 7,389
Overtime pay - 114 (114)
FICA 21,268 19,821 1,447
Employee retirement 52,989 15,522 37,467
Employee insurance 49,875 45,093 4,782
Workers' compensation 7,192 5,987 1,205
Other operating expenses:
General supplies/postage 120,000 142,624 (22,624)
Dues/training/travel 3,200 992 2,208
Data processing 278,440 175,511 102,929
Contracts and repairs 4,700 6,898 (2,198) Professional services 18,874 20,206 (1,332)
Special departmental supplies 200 - 200
Insurance 42,853 37,860 4,993
Bad debts 31,000 31,003 (3)
Total utilities finance 908,601 772,252 136,349
Utilities Administration:
Personnel services:
Salaries and wages 317,262 341,098 (23,836)
Overtime pay 8,485 58,065 (49,580)
FICA 24,920 26,856 (1,936)
Employee retirement 62,088 21,794 40,294
Employee insurance 54,625 52,793 1,832
Workers' compensation 9,535 17,982 (8,447)
Other operating expenses:
General supplies 1,900 314 1,586
Dues/training/travel 3,450 4,668 (1,218)
Auto operating 15,385 14,039 1,346
Utility services 11,500 16,236 (4,736)
Data processing 13,980 240 13,740 Contracts and repairs 6,532 26,409 (19,877)
Building materials 300 - 300
Uniforms and clothing 4,000 2,254 1,746
Advertising 5,600 - 5,600 Professional services 4,000 2,986 1,014
Special departmental supplies 425 - 425
Insurance 10,206 9,017 1,189
Lease purchase 20,120 - 20,120
Total utilities administration 574,313 594,751 (20,438)
Water Operations and Maintenance:
Personnel services:
Salaries and wages 494,114 464,120 29,994
Overtime pay 19,015 25,250 (6,235) FICA 39,255 34,447 4,808
Employee retirement 97,803 32,696 65,107
Employee insurance 85,500 78,553 6,947
Workers' compensation 12,934 10,767 2,167
Other operating expenses:
Dues/training/travel 1,750 5,541 (3,791)
Auto operating 36,644 37,018 (374)
Utility services 5,175 722 4,453
Contracts and repairs 18,665 27,305 (8,640)
Building materials 12,640 13,309 (669)
Uniforms and clothing 7,350 5,655 1,695
Special departmental supplies 248,425 260,226 (11,801)
Insurance 13,051 12,060 991
Lease purchase 28,447 - 28,447
Machines/equipment 230,429 - 230,429
Total water operations and maintenance 1,351,197 1,007,669 343,528
(Continued)
BUDGET AND ACTUAL - GAAP BASIS
FOR THE YEAR ENDED DECEMBER 31, 2025
SCHEDULE OF OPERATING EXPENSES
Variance with
Budget
WATER AND WASTEWATER SYSTEM FUND
84
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
Budget Actual
OPERATING EXPENSES (CONTINUED)
Water Production and Treatment:
Personnel services:
Salaries and wages $ 527,352 $ 479,642 $ 47,710
Overtime pay 26,850 39,445 (12,595)
FICA 42,397 40,475 1,922
Employee retirement 105,631 35,720 69,911
Employee insurance 76,000 69,980 6,020
Workers' compensation 14,117 11,752 2,365
Other operating expenses:
General supplies 1,600 1,237 363
Dues/training/travel 6,600 5,493 1,107
Auto operating 4,940 6,177 (1,237)
Utility services 382,839 516,647 (133,808) Contracts and repairs 183,845 163,016 20,829
Building materials 200 - 200
Uniforms and clothing 5,100 422 4,678
Advertising 1,600 7,337 (5,737) Professional services 39,060 39,050 10
Special departmental supplies 326,256 303,408 22,848
ACPSA treatment charges 3,000 7,548 (4,548)
Insurance 116,078 102,553 13,525
Lease purchase 3,898 - 3,898
Machines/equipment 101,750 - 101,750
Total water production and treatment 1,969,113 1,829,902 139,211
Wastewater Operations and Maintenance:
Personnel services:
Salaries and wages 592,949 567,051 25,898
Overtime pay 22,368 57,953 (35,585)
FICA 47,072 45,971 1,101
Employee retirement 117,280 43,311 73,969
Employee insurance 104,500 96,223 8,277
Workers' compensation 15,803 13,223 2,580 Other operating expenses:
Dues/training/travel 2,000 606 1,394
Auto operating 38,780 37,232 1,548
Utility services 84,616 93,473 (8,857) Contracts and repairs 96,980 110,852 (13,872)
Building materials 11,270 16,654 (5,384)
Uniforms and clothing 7,550 5,737 1,813
Special departmental supplies 18,460 53,638 (35,178) ACPSA treatment charges 5,548,240 6,269,472 (721,232)
Insurance 49,059 43,768 5,291
Lease purchase 59,803 - 59,803
Buildings/fixed equipment 486,000 - 486,000
City improvements 10,000 1,324 8,676
Machines and equipment 221,263 - 221,263
Total wastewater operations and maintenance 7,533,993 7,456,488 77,505
Depreciation and amortization - 1,863,504 (1,863,504)
Total operating expenses $ 12,337,217 $ 13,524,566 $ (1,187,349)
Variance with
Budget
BUDGET AND ACTUAL - GAAP BASIS
FOR THE YEAR ENDED DECEMBER 31, 2025
WATER AND WASTEWATER SYSTEM FUND
SCHEDULE OF OPERATING EXPENSES
85
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
Budget Actual
OPERATING REVENUES
Stormwater utility fees $ 1,076,100 $ 1,102,997 $ 26,897
Other 19,502 21,900 2,398
Total operating revenues 1,095,602 1,124,897 29,295
OPERATING EXPENSES
Stormwater operations 1,089,002 731,110 357,892
Depreciation - 531,097 (531,097)
Total operating expenses 1,089,002 1,262,207 (173,205)
Operating income (loss)6,600 (137,310) (143,910)
NONOPERATING REVENUE (EXPENSES)
Interest income 32,579 56,410 23,831
Interest expense - (472) (472)
Total nonoperating revenues, net 32,579 55,938 23,359
Income (loss) before capital contributions and transfers 39,179 (81,372) (120,551)
CAPITAL CONTRIBUTIONS - 1,145,498 1,145,498
TRANSFERS
Transfers in 2,927 83,476 80,549
Transfers out (42,106) (42,106) -
Total transfers (39,179) 41,370 80,549
Change in net position - 1,105,496 1,105,496
Total net position, beginning of year,11,258,647 11,258,647 -
Total net position, end of year $ 11,258,647 $ 12,364,143 $ 1,105,496
Variance with
Budget
STORMWATER UTILITY FUND
SCHEDULE OF REVENUES AND EXPENSES
BUDGET AND ACTUAL - GAAP BASIS
FOR THE YEAR ENDED DECEMBER 31, 2025
86
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
Budget Actual
OPERATING EXPENSES
Personnel services:
Salaries and wages $ 459,143 $ 402,774 $ 56,369
Overtime pay 2,000 1,574 426
FICA 35,278 28,046 7,232
Employee retirement 87,894 24,139 63,755
Employee insurance 59,375 54,672 4,703
Workers' compensation 10,778 8,972 1,806
Other operating expenses:
General supplies 800 551 249
Dues/training/travel 6,425 6,715 (290)
Auto operating 17,200 12,885 4,315
Utility services 3,000 2,168 832
Data processing 26,100 16,263 9,837
Contracts and repairs 4,800 2,314 2,486
Uniforms and clothing 3,400 2,850 550
Advertising 5,300 3,685 1,615
Professional services 59,513 58,404 1,109
Special departmental supplies 8,800 8,767 33
Insurance 17,311 15,293 2,018
Leases 29,685 - 29,685
Disaster relief efforts - 79,250 (79,250)
Drainage projects 200,000 1,788 198,212
Machinery 52,200 - 52,200
Total stormwater operations 1,089,002 731,110 357,892
Depreciation - 531,097 (531,097)
Total operating expenses $ 1,089,002 $ 1,262,207 $ (173,205)
Variance with
STORMWATER UTILITY FUND
SCHEDULE OF OPERATING EXPENSES
BUDGET AND ACTUAL - GAAP BASIS
FOR THE YEAR ENDED DECEMBER 31, 2025
Budget
87
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
Budget Actual
OPERATING REVENUES
Sanitation service fees $ 4,283,052 $ 4,387,906 $ 104,854
Recycling fees 219,737 215,731 (4,006)
Sale of recyclables 208,624 129,063 (79,561)
Other 86,984 61,608 (25,376)
Total operating revenues 4,798,397 4,794,308 (4,089)
OPERATING EXPENSES
Sanitation operations 3,425,628 3,354,242 71,386
Material recovery facility 1,093,058 1,100,241 (7,183)
Depreciation - 826,305 (826,305)
Total operating expenses 4,518,686 5,280,788 (762,102)
Operating income (loss)279,711 (486,480) (766,191)
NONOPERATING REVENUE (EXPENSES)
Interest income 120,000 113,563 (6,437)
Gain on sale of property - 9,759 9,759
Interest expense - (19,067) (19,067)
Total nonoperating revenues, net 120,000 104,255 (15,745)
Income (loss) before transfers 399,711 (382,225) (781,936)
TRANSFERS
Transfers in 11,402 2,140,225 2,128,823
Transfers out (411,113) (428,052) (16,939)
Total transfers (399,711) 1,712,173 2,111,884
Change in net position - 1,329,948 1,329,948
Total net position, beginning of year,4,651,136 4,651,136 -
Total net position, end of year $ 4,651,136 $ 5,981,084 $ 1,329,948
SCHEDULE OF OPERATING REVENUES AND EXPENSES
SANITATION SERVICES FUND
BUDGET AND ACTUAL - GAAP BASIS
FOR THE YEAR ENDED DECEMBER 31, 2025
Variance with
Budget
88
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
Budget Actual
OPERATING EXPENSES
Sanitation Operations
Personnel services:Salaries and wages $ 1,359,253 $ 1,221,188 $ 138,065
Overtime pay 26,607 157,105 (130,498)
FICA 106,019 100,155 5,864
Employee retirement 264,145 92,215 171,930
Employee insurance 249,375 230,454 18,921
Workers' compensation 35,065 29,190 5,875
Other operating expenses:
General supplies 2,589 2,179 410
Dues/training 700 - 700
Auto operating 568,217 719,060 (150,843)
Utility services 34,970 40,958 (5,988)
Data processing 52,000 29,529 22,471
Contracts and repairs 5,142 30,644 (25,502)
Building material 300 106 194
Uniforms and clothing 16,025 13,755 2,270
Professional services 8,179 290,762 (282,583)
Special departmental supplies 287,635 234,159 53,476
Insurance 172,372 162,783 9,589
Leases 237,035 - 237,035
Total sanitation operations 3,425,628 3,354,242 71,386
Material Recovery Facility
Personnel services:
Salaries and wages 369,285 347,400 21,885
Overtime pay 2,100 81,014 (78,914)
FICA 28,411 30,859 (2,448)
Employee retirement 70,786 21,130 49,656
Employee insurance 61,750 56,859 4,891
Workers' compensation 9,445 7,863 1,582
Unemployment - 7,302 (7,302)
Other operating expenses:
General supplies/postage 600 506 94
Dues/training 425 - 425
Auto operating 72,075 103,499 (31,424)
Utility services 8,500 10,326 (1,826)
Advertising 225 - 225
Contracts and repairs 82,225 132,961 (50,736)
Building material 600 - 600
Recycling expenses 300 - 300
Uniforms and clothing 4,185 4,180 5
Professional services 120,744 218,119 (97,375) Special departmental supplies 14,434 22,522 (8,088)
Insurance 63,047 55,701 7,346
Leases 97,221 - 97,221 Automotive equipment 86,700 - 86,700
Total material recovery facility 1,093,058 1,100,241 (7,183)
Depreciation - 826,305 (826,305)
Total operating expenses $ 4,518,686 $ 5,280,788 $ (762,102)
Budget
Variance with
FOR THE YEAR ENDED DECEMBER 31, 2025
SCHEDULE OF OPERATING EXPENSES
BUDGET AND ACTUAL - GAAP BASIS
SANITATION SERVICES FUND
89
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
UNIFORM SCHEDULE OF COURT FINES, ASSESSMENTS AND SURCHARGES (per ACT 96)
FOR THE YEAR ENDED DECEMBER 31, 2025
FOR THE STATE TREASURER'S OFFICE:
COUNTY / MUNICIPAL FUNDS COLLECTED BY
CLERK OF COURT
General
Sessions
Magistrate
Court
Municipal
Court Total
Court Fines and Assessments:
Court fines and assessments collected N/A N/A $ 1,083,490 $ 1,083,490
Court fines and assessments remitted to State
Treasurer N/A N/A 587,513 587,513
Total Court Fines and Assessments retained N/A N/A $ 495,977 $ 495,977
Surcharges and Assessments retained for victim
services:
Surcharges collected and retained N/A N/A $ 3,161 $ 3,161
Assessments retained N/A N/A 50,777 50,777
Total Surcharges and Assessments retained for victim
services N/A N/A $ 53,938 $ 53,938
FOR THE DEPARTMENT OF CRIME VICTIM COMPENSATION (DCVC)
Municipal County Total
$ 134,612 N/A $ 134,612
- N/A -
50,777 N/A 50,777
3,161 N/A 3,161
- N/A -
- N/A -
- N/A -
- N/A -
- N/A -
- N/A -
$ 188,550 N/A $ 188,550
(2) Town of
(3) City of
Total Funds Allocated to Victim Service Fund + Beginning Balance (A)
(1) Town of
VICTIM SERVICE FUNDS COLLECTED
Carryforward from Previous Year – Beginning Balance
Victim Service Revenue:
Victim Service Fines Retained by City/County Treasurer
Victim Service Assessments Retained by City/County Treasurer
Victim Service Surcharges Retained by City/County Treasurer
Interest Earned
Grant Funds Received
Grant from:
General Funds Transferred to Victim Service Fund
Contribution Received from Victim Service Contracts:
Developed by the Office of the Attorney General, Department of Crime Victim Compensation
90
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
UNIFORM SCHEDULE OF COURT FINES, ASSESSMENTS AND SURCHARGES (per ACT 96)
FOR THE YEAR ENDED DECEMBER 31, 2025
Municipal County Total
$ 9,992 N/A $ 9,992
4,966 N/A 4,966
- N/A -
- N/A -
17,000 N/A 17,000
- N/A -
17,000 N/A 17,000
- N/A -
48,958 N/A 48,958
139,592 N/A 139,592
- N/A -
$ 139,592 N/A $ 139,592
(3) Other local direct crime victims service agency: Child Advocacy
Center of Aiken County
Transferred to General Fund
Total Expenditures from Victim Service Fund/Program (B)
Less: Prior Year Fund Deficit Repayment
Carryforward Funds – End of Year
Total Victim Service Funds Retained by Municipal/County Treasurer (A-B)
(2) Rape Crisis Center:
Expenditures for Victim Service Program:
Salaries and Benefits
Operating Expenditures
Victim Service Contract(s):
(1) Entity's Name
(2) Entity's Name
Victim Service Donation(s):
(1) Domestic Violence Shelter: Cumbie Center
Developed by the Office of the Attorney General, Department of Crime Victim Compensation
91
STATISTICAL SECTION
This part of the City’s annual comprehensive financial report presents detailed information as a context for
understanding what the information in the financial statements, note disclosures, required supplementary
information, and supplementary information says about the City’s overall financial health.
Contents
Page
Financial Trends .......................................................................................................................................... 92 - 96
These schedules contain trend information to help the reader understand how the City’s financial
performance and well-being have changed over time.
Revenue Capacity ...................................................................................................................................... 97 - 103
These schedules contain information to help the reader assess the City’s most significant local
revenue source, the property tax.
Debt Capacity ........................................................................................................................................... 104 - 108
These schedules present information to help the reader assess the affordability of the City’s current
levels of outstanding debt and the City’s ability to issue additional debt in the future.
Demographic and Economic Information ............................................................................................. 109 - 111
These schedules offer demographic and economic indicators to help the reader understand the
environment within which the City’s financial activities take place.
Operating Information ............................................................................................................................. 112 - 115
These schedules contain service and infrastructure data to help the reader understand how the
information in the City’s financial report relates to the services the City provides and the activities it
performs.
Sources: Unless otherwise noted, the information in these schedules is derived from the City’s financial reports for
the relevant year.
2016 2017 2018 2019 2020
Governmental activities
Net investment in capital assets 60,261,553$ 46,115,747$ 65,640,358$ 64,540,113$ 64,277,060$
Restricted 7,616,189 23,744,254 6,574,221 8,729,598 7,848,687
Unrestricted (5,705,943) (5,641,833) (7,354,106) (9,984,502) (9,345,838)
Total governmental activities net position 62,171,799$ 64,218,168$ 64,860,473$ 63,285,209$ 62,779,909$
Business-type activities
Net investment in capital assets 53,203,765$ 55,927,179$ 58,580,045$ 60,703,383$ 61,930,753$
Restricted 11,374,284 9,618,737 7,977,008 8,433,456 8,358,324
Unrestricted (387,763) 492,016 1,215,467 1,431,160 1,855,707
Total business-type activities net position 64,190,286$ 66,037,932$ 67,772,520$ 70,567,999$ 72,144,784$
Primary Government
Net investment in capital assets 113,465,318$ 102,042,926$ 124,220,403$ 125,243,496$ 126,207,813$
Restricted 18,990,473 33,362,991 14,551,229 17,163,054 16,207,011
Unrestricted (6,093,706) (5,149,817) (6,138,639) (8,553,342) (7,490,131)
Total primary government net position 126,362,085$ 130,256,100$ 132,632,993$ 133,853,208$ 134,924,693$
2021 2022 2023 2024 2025
Governmental activities
Net investment in capital assets 54,204,071$ 56,753,022$ 69,956,542$ 83,754,381$ 86,421,444$
Restricted 19,786,412 19,633,892 11,272,709 16,928,855 21,240,999
Unrestricted (7,117,195) (5,303,954) (2,835,312) (3,059,315) (3,457,399)
Total governmental activities net position 66,873,288$ 71,082,960$ 78,393,939$ 97,623,921$ 104,205,044$
Business-type activities
Net investment in capital assets 62,504,303$ 63,792,267$ 68,970,736$ 75,191,616$ 84,547,697$
Restricted 8,481,549 8,437,860 9,143,935 9,564,203 8,786,851
Unrestricted 3,230,474 5,271,343 4,517,902 4,916,955 4,265,954
Total business-type activities net position 74,216,326$ 77,501,470$ 82,632,573$ 89,672,774$ 97,600,502$
Primary Government
Net investment in capital assets 116,708,374$ 120,545,289$ 138,927,278$ 158,945,997$ 170,969,141$
Restricted 28,267,961 28,071,752 20,416,644 26,493,058 30,027,850
Unrestricted (3,886,721) (32,611) 1,682,590 1,857,640 808,555
Total primary government net position 141,089,614$ 148,584,430$ 161,026,512$ 187,296,695$ 201,805,546$
City of North Augusta, South Carolina
Net Position by Component
Last Ten Fiscal Years
(accrual basis of accounting)
Year Ending December 31
Year Ending December 31
92
2016 2017 2018 2019 2020
Expenses
Governmental activities: General government 4,519,094$ 7,474,923$ 8,855,053$ 11,607,797$ 7,870,452$
Public safety 8,473,548 8,736,202 9,253,259 9,079,791 9,539,596
Public works 580,327 2,695,126 2,736,631 2,936,592 2,924,751 Parks, recreation, and tourism 5,061,480 4,913,582 3,785,041 4,212,339 3,371,009 Debt service - interest and fees 155,047 338,132 1,568 276,699 3,447,465
Loss on debt defeasance - - - -
Total governmental activities expenses 18,789,496$ 24,157,965$ 24,631,552$ 28,113,218$ 27,153,273$
Business-type activities:
Water and wastewater 7,745,232$ 8,359,555$ 8,896,535$ 10,077,290$ 10,410,462$
Sanitation 4,594,016 4,536,142 4,624,936 4,733,146 4,626,296 Stormwater utility 541,495 638,634 661,987 789,312 840,358
Savannah Bluff Lock and Dam 24,000 24,000 23,999 24,000 192,673
Total business-type activities expenses 12,904,743$ 13,558,331$ 14,207,457$ 15,623,748$ 16,069,789$
Total primary government expenses 31,694,239$ 37,716,296$ 38,839,009$ 43,736,966$ 43,223,062$
Program Revenues
Governmental activities:
Charges for services:
General government 5,885,657$ 6,229,497$ 6,361,953$ 6,256,452$ 6,420,926$ Public safety 1,060,102 1,041,202 892,138 1,044,181 911,851
Public Works 78,018 158,147 167,961 108,726 85,435
Parks, recreation, and tourism 1,260,024 1,148,108 1,829,789 2,096,008 1,091,763 Operating grants and contributions 791,316 1,083,944 1,377,317 1,265,522 1,287,442
Capital grants and contributions - 207,768 - 759,852 1,788,037
Total governmental activities program revenues 9,075,117$ 9,868,666$ 10,629,158$ 11,530,741$ 11,585,454$
Business-type activities:
Charges for services:
Water and wastewater 9,155,898$ 9,459,054$ 9,746,927$ 10,151,786$ 10,666,159$ Sanitation 4,246,959 4,472,281 4,355,688 4,487,564 4,862,277 Stormwater utility 759,131 770,135 782,958 804,213 821,127
Operating grants and contributions - 10,161 80,636 23,516 -
Capital grants and contributions 124,408 103,591 23,514 616,830 1,325,388 Total business-type activities program revenues 14,286,396$ 14,815,222$ 14,989,723$ 16,083,909$ 17,674,951$
Total primary government program revenues 23,361,513$ 24,683,888$ 25,618,881$ 27,614,650$ 29,260,405$
Net (expense) / revenue
Governmental activities (9,714,379)$ (14,289,299)$ (14,002,394)$ (15,567,819)$ (14,055,577)$ Business-type activities 1,381,653 1,256,891 782,266 1,605,162 2,459,661 Total primary government net expense (8,332,726)$ (13,032,408)$ (13,220,128)$ (13,962,657)$ (11,595,916)$
General Revenues and Other Changes in Net Position
Governmental activities:
Ad valorem property taxes 7,162,650$ 8,146,680$ 8,143,925$ 8,456,230$ 10,632,768$
Capital projects sales taxes 2,891,291 3,109,712 3,179,463 1,443,301 176,864 Local hospitality and accommodations taxes 764,056 790,749 1,718,195 2,017,221 1,830,571
Interest on investments 192,906 423,369 400,007 330,669 168,087
Gain(loss) on disposal of capital assets - - 9,441 31,203 - Miscellaneous 568,970 3,659,328 1,024,414 1,005,944 1,095,995 Transfers 540,943 205,830 169,254 748,347 1,158,234
Total governmental activities 12,120,816$ 16,335,668$ 14,644,699$ 14,032,915$ 15,062,519$
Business-type activities:
Interest on investments 120,990$ 145,025$ 281,451$ 327,680$ 127,876$
Gain(loss) on disposal of capital assets (12,606) 78,747 55,180 465 56,065
Miscellaneous 557,130 572,813 784,945 631,468 945,916 Transfers (540,943) (205,830) (169,254) (748,347) (1,158,234)
Total business-type activities 124,571$ 590,755$ 952,322$ 211,266$ (28,377)$
Total primary government 12,245,387$ 16,926,423$ 15,597,021$ 14,244,181$ 15,034,142$
Change in Net PositionGovernmental activities 2,406,437$ 2,046,369$ 642,305$ (2,549,562)$ (505,300)$
Business-type activities 1,506,224 1,847,646 1,734,588 671,427 1,576,785
Total primary government 3,912,661$ 3,894,015$ 2,376,893$ (1,878,135)$ 1,071,485$
(continued)
(accrual basis of accounting)
Year Ending December 31
City of North Augusta, South Carolina
Changes in Net Position
Last Ten Fiscal Years
93
2021 2022 2023 2024 2025
ExpensesGovernmental activities:
General government 8,020,594$ 8,978,242$ 9,815,418$ 9,725,538$ 11,631,941$
Public safety 8,713,621 9,668,579 10,684,522 13,683,146 13,436,184 Public works 2,952,922 3,125,270 3,574,540 3,662,018 4,241,785
Parks, recreation, and tourism 4,197,184 4,454,887 5,026,860 5,329,246 6,432,577
Debt service - interest and fees 3,347,376 3,338,117 3,281,470 3,240,704 3,187,678
Loss on debt defeasance - - - - - Total governmental activities expenses 27,231,697$ 29,565,095$ 32,382,810$ 35,640,652$ 38,930,165$
Business-type activities: Water and wastewater 10,164,461$ 10,195,996$ 10,956,787$ 11,479,132$ 13,767,312$ Sanitation 4,479,166 4,063,126 4,493,114 4,604,017 5,299,855
Stormwater utility 883,357 955,356 992,622 1,070,605 1,262,679
Savannah Bluff Lock and Dam utility 133,970 26,000 22,000 24,000 24,500 Total business-type activities expenses 15,660,954$ 15,240,478$ 16,464,523$ 17,177,754$ 20,354,346$
Total primary government expenses 42,892,651$ 44,805,573$ 48,847,333$ 52,818,406$ 59,284,511$
Program Revenues
Governmental activities: Charges for services: General government 6,868,596$ 7,154,304$ 7,682,907$ 8,579,698$ 9,374,411$
Public safety 895,682 869,174 942,166 1,005,483 1,129,327
Public Works 93,392 99,378 107,202 112,142 218,029 Parks, recreation, and tourism 2,158,381 2,127,533 2,159,311 2,365,211 2,459,985
Operating grants and contributions 960,878 2,316,342 5,033,679 9,488,327 4,776,163
Capital grants and contributions 2,199,191 639,030 - 255,787 -
Total governmental activities program revenues 13,176,120$ 13,205,761$ 15,925,265$ 21,806,648$ 17,957,915$
Business-type activities:
Charges for services: Water and wastewater 11,159,227$ 10,844,304$ 11,202,511$ 12,673,327$ 13,569,242$
Sanitation 4,791,306 4,003,815 4,469,657 4,672,450 4,732,700
Stormwater utility 837,701 860,588 882,998 1,057,103 1,102,997
Operating grants and contributions - - 1,301,017 23,515 4,512,277 Capital grants and contributions 1,332,381 1,166,873 1,631,416 1,157,324 2,386,277
Total business-type activities program revenues 18,120,615$ 16,875,580$ 19,487,599$ 19,583,719$ 26,303,493$
Total primary government program revenues 31,296,735$ 30,081,341$ 35,412,864$ 41,390,367$ 44,261,408$
Net (expense) / revenueGovernmental activities (16,359,334)$ (16,359,334)$ (16,457,545)$ (13,834,004)$ (20,972,250)$
Business-type activities 1,635,102 1,635,102 3,023,076 2,405,965 5,949,147
Total primary government net expense (14,724,232)$ (14,724,232)$ (13,434,469)$ (11,428,039)$ (15,023,103)$
General Revenues and Other Changes in Net Position
Governmental activities:
Ad valorem property taxes 11,382,532$ 13,122,687$ 13,789,487$ 15,186,783$ 15,774,788$ Capital projects sales taxes 1,770,110 1,770,261 3,423,388 15,190,311 2,606,567
Local hospitality and accommodations taxes 2,385,218 2,664,997 2,933,463 3,227,892 3,495,366
Interest on investments 62,950 508,037 1,708,263 2,416,575 2,101,130 Gain(loss) on disposal of capital assets - - - - -
Miscellaneous 1,329,329 1,472,620 2,237,217 2,055,592 4,364,867
Transfers 1,218,817 1,030,404 (323,294) (3,517,082) (789,345)
Total governmental activities 18,148,956$ 20,569,006$ 23,768,524$ 34,560,071$ 27,553,373$
Business-type activities:
Interest on investments 35,498$ 297,154$ 779,787$ 871,070$ 761,994$ Gain(loss) on disposal of capital assets 95,281 7,860 53,677 116,625 32,769
Miscellaneous 699,919 2,375,432 975,219 835,193 394,473
Transfers (1,218,817) (1,030,404) 323,294 3,517,082 789,345
Total business-type activities (388,119)$ 1,650,042$ 2,131,977$ 5,339,970$ 1,978,581$
Total primary government 17,760,837$ 22,219,048$ 25,900,501$ 39,900,041$ 29,531,954$
Change in Net Position
Governmental activities 4,093,379$ 4,209,672$ 7,310,979$ 20,726,067$ 6,581,123$
Business-type activities 2,071,542 3,285,144 5,155,053 7,745,935 7,927,728 Total primary government 6,164,921$ 7,494,816$ 12,466,032$ 28,472,002$ 14,508,851$
(accrual basis of accounting)
Year Ending December 31
Changes in Net Position
Last Ten Fiscal Years
94
2016 2017 2018 2019 2020
General Fund
Nonspendable -$ -$ -$ -$ -$
Restricted 103,644 107,443 111,049 115,225 119,094
Committed 1,484,194 1,121,426 937,499 433,393 689,671
Unassigned 2,475,000 2,625,000 2,825,000 2,875,000 3,000,000
Total General Fund 4,062,838$ 3,853,869$ 3,873,548$ 3,423,618$ 3,808,765$
All Other Governmental Funds
Reserved -$ -$ -$ -$
Restricted 7,512,545 23,636,811 10,531,546 9,423,502 17,733,705
Committed 2,950,803 3,731,713 2,669,258 2,737,813 2,980,435
Assigned 428,854 367,043 344,403 34,138 5,837
Unassigned - - - - -
Total all other governmental funds 10,892,202$ 27,735,567$ 13,545,207$ 12,195,453$ 20,719,977$
2021 2022 2023 2024 2025
General Fund
Nonspendable -$ -$ -$ -$ -$
Restricted 123,331 126,972 129,781 134,612 139,592
Committed 2,834,351 2,174,623 1,906,876 496,218 -
Unassigned 3,125,000 3,350,000 3,700,000 4,100,000 3,592,477
Total General Fund 6,082,682$ 5,651,595$ 5,736,657$ 4,730,830$ 3,732,069$
All Other Governmental Funds
Reserved -$ -$ -$ -$ -$
Restricted 19,663,081 19,506,920 11,142,928 16,794,243 21,101,407
Committed 3,398,961 5,364,974 7,143,941 9,207,742 9,169,851
Assigned 6,155 6,606 7,933 9,320 10,409
Unassigned - (67,241) (259,577) - -
Total all other governmental funds 23,068,197$ 24,811,259$ 18,035,225$ 26,011,305$ 30,281,667$
Year Ending December 31
Year Ending December 31
City of North Augusta, South Carolina
Fund Balances, Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
95
2016 2017 2018 2019 2020RevenuesAd valorem taxes 7,163,429$ 7,446,013$ 8,018,222$ 8,404,331$ 9,655,624$ Sales taxes 2,891,291 3,109,712 3,179,463 2,235,581 176,864
Local hospitality and accommodations taxes 764,056 790,749 1,718,195 2,017,221 1,830,571
Licenses and permits 5,885,657 6,229,497 6,361,953 6,256,452 6,420,926
Fines and forfeitures 996,799 978,626 834,200 1,006,060 872,727
Charges for services 1,401,345 1,291,321 1,974,016 2,226,219 1,216,322
Intergovernmental 791,316 4,179,592 1,899,080 1,569,665 1,452,465
Miscellaneous/interest earnings 781,035 1,000,276 1,068,804 1,111,636 1,157,925
Total Revenues 20,674,928$ 25,025,786$ 25,053,933$ 24,827,165$ 22,783,424$
ExpendituresGeneral government 3,712,733$ 3,406,445$ 4,759,360$ 5,751,630$ 5,503,855$ Public safety 7,990,705 7,921,809 8,379,644 8,932,323 8,058,484 Public works 1,394,286 1,515,323 1,594,271 1,728,518 1,520,495 Parks, recreation and tourism 4,022,934 4,085,589 3,043,122 3,278,290 2,500,187
Capital outlay 1,790,360 45,762,352 18,736,157 4,909,427 3,747,567
Debt service:
Lease payments 929,907 3,991,122 619,864 731,955 711,865
Interest and fiscal charges 155,047 1,712,670 3,217,755 3,217,751 3,273,533
Principal Retirements - 12,573,657 (b)- (b)- 650,000
Bond Issuance Costs - 1,495,554 - - 88,947
Total Expenditures 19,995,972$ 82,464,521$ 40,350,173$ 28,549,894$ 26,054,933$
Excess (deficiency) of revenues over (under) expenditures 678,956$ (57,438,735)$ (15,296,240)$ (3,722,729)$ (3,271,509)$
Other financing sources (uses)
Proceeds on sale of capital assets -$ -$ -$ -$ -$
Issuance of capital lease 880,655 473,983 432,308 838,111 772,946
Lease issuance cost 428,120 71,882,320 - - 10,250,000
Issuance of bonds - 178,260 (a)- (a)- -
Transfers in 1,397,258 10,699,613 4,538,136 3,825,974 4,380,329
Transfers out (856,315) (9,161,045) (3,844,885) (2,741,040) (3,222,095)
Total other financing sources (uses)1,849,718$ 74,073,131$ 1,125,559$ 1,923,045$ 12,181,180$
Net change in fund balance 2,528,674$ 16,634,396$ (14,170,681)$ (1,799,684)$ 8,909,671$
Debt service as a percentage of noncapital expenditures 7.03%54.73%(b)18.18%(b)18.09%21.18%
2021 2022 2023 2024 2025RevenuesAd valorem taxes 12,220,170$ 12,932,274$ 13,682,634$ 15,014,241$ 15,747,144$ Sales taxes 1,770,110 1,770,261 3,423,388 15,190,311 2,606,567
Local hospitality and accommodations taxes 2,385,218 2,664,997 2,933,463 3,227,892 3,495,366
Licenses and permits 6,868,596 7,154,304 7,682,907 8,579,698 9,374,411
Fines and forfeitures 854,434 828,347 901,098 949,905 1,072,448
Charges for services 2,293,021 2,267,738 2,307,581 2,532,931 2,734,893
Intergovernmental 1,168,208 2,729,348 5,446,755 10,139,045 5,010,214
Miscellaneous/interest earnings 1,237,945 1,813,821 3,729,362 4,279,316 6,231,946
Total Revenues 28,797,702$ 32,161,090$ 40,107,188$ 59,913,339$ 46,272,989$
ExpendituresGeneral government 5,849,145$ 6,864,168$ 7,471,111$ 8,783,872$ 12,374,338$ Public safety 7,986,178 8,931,947 9,848,498 12,797,133 12,323,130 Public works 1,553,477 1,696,583 2,118,206 2,185,525 2,683,764
Parks, recreation and tourism 3,353,253 3,641,616 4,208,884 4,436,777 5,408,312
Capital outlay 3,287,647 4,988,864 17,034,414 15,169,459 2,732,331
Debt service:
Lease payments 702,138 - - - -
Interest and fiscal charges 3,325,369 3,348,840 3,287,466 3,258,324 3,199,027
Principal Retirements 739,968 3,184,079 3,458,032 3,437,741 3,491,141
Bond Issuance Costs - - - - -
Total Expenditures 26,797,175$ 32,656,097$ 47,426,611$ 50,068,831$ 42,212,043$
Excess (deficiency) of revenues over (under) expenditures 2,000,527$ (495,007)$ (7,319,423)$ 9,844,508$ 4,060,946$
Other financing sources (uses)
Proceeds on sale of capital assets -$ -$ -$ -$ -$
Issuance of capital lease 1,405,126 776,578 915,681 642,827 -
Issuance of bonds - - - - -
Insurance proceeds - - - - -
Transfers in 6,103,845 9,568,234 10,017,935 9,915,944 4,459,259
Transfers out (4,887,361) (8,537,830) (10,305,165) (13,433,026) (5,248,604)
Total other financing sources (uses)2,621,610$ 1,806,982$ 628,451$ (2,874,255)$ (789,345)$
Net change in fund balance 4,622,137$ 1,311,975$ (6,690,972)$ 6,970,253$ 3,271,601$
Debt service as a percentage of noncapital expenditures 20.28%23.61%22.02%19.92%18.05%
(a) 2017 installment purchase revenue bond to construct and equip two parking decks, a stadium, conference facilities, a riverfront park, and certain roads,
water, sewer, and related infrastructure (Series 2017B.) Also included is a $25,000 tax increment revenue bond.
(b) In May 2017, the North Augusta Public Facilities Corporation entered into an installment purchase transaction. Proceeds from this transaction were also
used to refinance the municipal center lease.
(c) In March 2020, the City issued Series 2020 General Obligation Bonds in the amount of $10,250,000 for the purposes of defraying the costs incurred in connection
with all or a portion of designing, developing, and construction of a new Public Safety Headquarters and related fire apparatus.
Year Ending December 31
(modified accrual basis of accounting)
Year Ending December 31
City of North Augusta, South Carolina
Changes in Fund Balances, Governmental Funds
Last Ten Fiscal Years
96
Year Ended
December 31
(a) Tax
Year
Assessed
Value
Estimated Actual
Value
Assessed
Value
Estimated Actual
Value
Assessed
Value
Estimated Actual
Value Tax Rate
2016 2015 73,065,987$ 1,490,975,824$ 21,623,421$ 163,697,703$ 94,689,408$ 1,654,673,527$ 74.21
2017 (b) 2016 79,819,959 1,628,796,572 26,336,665 199,378,793 106,156,624 1,828,175,365 70.50
2018 2017 82,341,248 1,680,245,695 27,375,296 207,241,635 109,716,544 1,887,487,329 73.50
2019 2018 83,448,499 1,702,840,127 31,654,277 239,635,179 115,102,776 1,942,475,306 73.50
2020 2019 111,102,458 (c)2,267,143,519 33,204,209 251,368,768 144,306,667 2,518,512,288 73.50
2021 2020 114,076,665 (c)2,327,834,832 40,594,219 307,314,022 154,670,884 2,635,148,855 73.50
2022 (b) 2021 128,916,969 (c)2,630,664,307 47,567,398 360,103,698 176,484,367 2,990,768,006 73.50
2023 2022 136,906,451 (c)2,793,696,725 54,000,383 408,803,896 190,906,834 3,202,500,621 75.50
2024 2023 144,307,500 (c)2,944,721,649 49,495,261 374,698,370 193,802,761 3,319,420,018 77.50
2025 2024 155,289,346 (c)3,168,815,890 48,539,787 367,465,057 203,829,133 3,536,280,947 77.50
(b) Reassessment year, see Table VI
(c) Includes real, merchants inventory, merchants furniture and fixtures, personal property taxes, and special assessments for parcels in the City's
Municipal Improvement District (MID). Assessed value of real property less the special assessments in the MID totals $141,164,407.
City of North Augusta, South Carolina
Assessed Value and Estimated Actual Value of Taxable Property
Last Ten Fiscal Years
Source: City of North Augusta tax records
TOTALREAL PROPERTY PERSONAL PROPERTY
(a) The City of North Augusta uses different tax years for real and personal property taxes because on April 30, 1980, the S.C. General Assembly passed a law that provided for
the billing and collection of personal property taxes on motor vehicles on a staggered basis according to expiration of the license tag.
97
Fiscal Year
Ended
December
31
(a) Tax
Year
Operating
Millage
Debt
Service
Millage (b)
Total City
Millage
Operating
Millage
Debt
Service
Millage
Total
County
Millage
Operating
Millage
Debt
Service
Millage
Total
School
Millage
Total Direct
and
Overlapping
Rates
2016 2015 74.21 -74.21 66.00 3.90 69.90 141.60 29.00 170.60 314.71
2017 2016 70.50 -70.50 64.60 3.90 68.50 137.30 28.70 166.00 305.00
2018 2017 73.50 -73.50 64.60 3.90 68.50 137.30 28.70 166.00 308.00
2019 2018 73.50 -73.50 65.20 3.30 68.50 137.30 33.70 171.00 313.00
2020 2019 73.50 -73.50 65.20 3.30 68.50 137.30 33.70 171.00 313.00
2021 2020 73.50 -73.50 64.30 3.00 67.30 134.20 33.70 167.90 308.70
2022 2021 73.50 -73.50 65.10 2.20 67.30 134.20 33.70 167.90 308.70
2023 2022 75.50 -75.50 68.14 2.20 70.34 134.20 33.70 167.90 313.74
2024 2023 77.50 -77.50 68.14 2.20 70.34 134.20 33.70 167.90 315.74
2025 2024 77.50 -77.50 68.14 2.20 70.34 134.20 33.70 167.90 315.74
Source: Aiken County Auditor
(b) The City had no GOB debt prior to 2006. During 2013, the City defeased all of its outstanding GOB debt.
City Tax Data:
Mill:Represents .1% per $1,000 of assessed valuation
Tax Rate Limits: None
Taxes Due: Personal: In the month preceding tag renewal by the S.C. State Highway Department
Real and Merchants: April 30th
Personal: N/A--Taxes on personal property paid in advance
Taxes Delinquent: Real and Merchants: May 1st
Discount Allowed: None
Penalties: Real and Merchants: 15%
Reassessment Years: Tax Years 2016, 2021
Uncollected taxes are turned over to the City Delinquent Tax Collector on June 1st, with authority to enforce collection by tax sale.
(a) Because of the change mandated by State law noted in the footnote of Table V, the City of North Augusta uses different tax years for real and personal property
City of North Augusta, South Carolina
Direct and Overlapping Property Tax Rates
Last Ten Fiscal Years
City of North Augusta
Overlapping Property Tax Rates
County of Aiken Aiken County School District
98
2025 2016
Taxpayer
Assessed
Valuation (e) Rank
Percentage of
Total Assessed
Valuation
Assessed
Valuation Rank
Percentage of
Total Assessed
Valuation
Dominion Energy (a)4,728,800$ 1 2.32% 3,038,610$ 1 3.21%
Graybul Ironwood LLC 2,692,130 2 1.32%
Leo@Augusta, LLC (b)2,119,410 3 1.04%
Wal-Mart, Inc.2,089,540 4 1.03%1,810,770 2 1.91%
Allnex Industries, Inc. (c)1,321,970 5 0.65% 993,300 6 1.05%
SRP Federal Credit Union 1,200,060 6 0.59%1,135,870 4 1.20%
SUSO 3 Augusta, LP 1,196,540 7 0.59%1,087,920 5 1.15%
Augusta Hotel Property LLC (d)1,164,390 8 0.57%
Halocarbon Life Sciences, LLC 999,080 9 0.49%1,137,450 3 1.20%
Comcast 970,820 10 0.48%
CVS SC Distribution, Inc.709,980 7 0.75%
The Kroger Company 640,180 8 0.68%
Bell South Telecommunications 581,680 9 0.61%
Lowes Home Centers, Inc.508,550 10 0.54%
TOTAL Taxable Assessed 18,482,740$ 9.07%11,644,310$ 12.30%
Source: City of North Augusta tax records
real estate at 6%.
(a) Dominion Energy formerly S.C. Electric & Gas Co.
(b) Leo@Augusta, LLC formerly Next Chapter Sweetwater LLC
(c) Allnex formerly Cytec Surface Specialties
(d) Formerly owned by Ackerman Greenestone
(e) Does not include special assessments for parcels in the City's Municipal Improvement District (MID) that do not have a building
assessed valuation.
This table lists the ten largest taxpayers, type of business, assessed valuation, and tax levy for the fiscal year 2024 (tax year 2023) as
indicated by the City of North Augusta tax digest. This includes furniture, fixtures, and equipment assessed at 10.5% and commercial
City of North Augusta, South Carolina
Principal Property Taxpayers
Current Year and Nine Years Ago
99
Year Ended
December 31
(b) Tax
Year
(a)Taxes Levied
for the Fiscal Year Amount Percentage of Levy
Collections in
Subsequent
Years Amount
Percentage of
Levy
2016 2015 7,026,901$ 6,992,988$ 99.52%15,435$ 7,008,423$ 99.74%
2017 (c) 2016 7,484,042 7,446,013 99.49%12,419 7,458,432 99.66%
2018 2017 8,064,166 8,018,222 99.43%20,617 8,038,839 99.69%
2019 2018 8,460,054 8,404,331 99.34%21,449 8,425,780 99.59%
2020 2019 10,606,540 9,655,624 91.03%907,520 10,563,144 99.59%
2021 2020 11,368,310 11,326,981 99.64%17,428 11,344,409 99.79%
2022 (c) 2021 12,971,601 12,883,770 99.32%81,800 12,965,570 99.95%
2023 2022 14,413,466 14,394,526 99.87%9,681 14,404,207 99.94%
2024 2023 15,019,714 15,002,487 99.89%1,267 15,003,754 99.89%
2025 2024 15,796,758 15,745,140 99.67%- 15,745,140 99.67%
(a) Includes real, merchants inventory, merchants furniture and fixtures, personal property taxes, and special assessments for parcels in the City's
Municipal Improvement District (MID).
(b) Because of the change by State law noted in the footnote of Table V, the City of North Augusta uses different tax years for
real and personal property taxes.
(c) Reassessment year, see Table VI
City of North Augusta, South Carolina
Property Tax Levies and Collections
Last Ten Fiscal Years
Total Collections to Date
Collected within the
Current Year of Tax Levy
Source: City of North Augusta tax records
100
Year Ended
December 31 Total Revenues Gross Sales
Total Number of
Licenses Issued
2016 5,514,782$ 1,143,626,048$ 1,877
2017 5,727,383 1,253,829,811 2,017
2018 6,007,529 (a) 1,355,936,169 2,420
2019 5,886,386 1,256,734,425 2,254
2020 5,905,981 1,294,322,660 2,302
2021 6,216,232 1,263,252,418 2,192
2022 6,500,762 1,541,689,563 2,208
2023 6,993,010 1,691,571,882 2,319
2024 7,696,188 1,825,812,543 2,343
2025 8,416,890 2,494,039,965 2,249
(a) Increase due to numerous one-time licenses for construction related to projects in Riverside Village.
Source: City of North Augusta business license records
City of North Augusta, South Carolina
Business Licenses / Franchise Fees
Last Ten Fiscal Years
101
Year Ended
December 31
Residential
Inside Water
Non-Residential
Inside Water
Total Inside
Water Accounts
Residential
Outside Water
Non-Residential
Outside Water
Total Outside
Water Accounts
Total Water
Accounts
2016 8,152 658 8,810 2,931 158 3,089 11,899
2017 8,310 785 9,095 2,959 158 3,117 12,212
2018 8,775 777 9,552 2,950 158 3,108 12,660
2019 9,119 765 9,884 2,927 158 3,085 12,969
2020 9,254 775 10,029 2,963 163 3,126 13,155
2021 9,324 786 10,110 2,942 166 3,108 13,218
2022 9,605 793 10,398 2,956 163 3,119 13,517
2023 9,706 810 10,516 2,930 159 3,089 13,605
2024 10,089 815 10,904 2,925 156 3,081 13,985
2025 10,400 876 11,276 2,995 177 3,172 14,448
Year Ended
December 31
Residential
Inside Sewer
Non-Residential
Inside Sewer
Total Inside
Sewer Accounts
Residential
Outside Sewer
Non-Residential
Outside Sewer
Total Outside
Sewer Accounts
Total Sewer
Accounts
2016 9,900 576 10,476 967 31 998 11,474
2017 10,114 646 10,760 979 32 1,011 11,771
2018 10,397 638 11,035 980 31 1,011 12,046
2019 10,775 640 11,415 972 30 1,002 12,417
2020 10,934 655 11,589 975 31 1,006 12,595
2021 11,228 666 11,894 988 33 1,021 12,915
2022 11,510 672 12,182 986 35 1,021 13,203
2023 11,741 680 12,421 976 34 1,010 13,431
2024 12,078 675 12,753 978 31 1,009 13,762
2025 12,271 654 12,925 978 30 1,008 13,933
Source: City of North Augusta utility billing records
City of North Augusta, South Carolina
Number of Utility Customers
Last Ten Fiscal Years
102
Water Customers
Customer Name Type of Business Rank Water Usage Rank Water Usage
City of North Augusta Municipal Government 1 80,273,600 1 69,296,300
Halocarbon Chemicals, Inc.Manufacturing 1 64,016,400 2 58,340,300
Crowne Plaza Hotel 3 28,333,200
Allnex Industries, Inc.Manufacturing 4 23,564,500 3 43,472,300
JARS at Breckenridge/Plaza Terrace Apartments 8 17,253,400 5 10,373,300
Aiken County Schools School District 6 13,562,900 4 30,056,400
Ambiopharm Pharmaceutical Manufacturer 5 12,768,500
Plaza Place 2020, LLC Apartments 7 11,824,800
Graybul Ironwood, LLC Apartments 9 11,697,600
Moby's Car Wash Car Wash 10 9,048,500
Trubild, LLC Mobile Home Park 7,092,400 6 6,981,700 (c)
Pinecrest Apartments Apartments 7 5,835,900
Whispering Woods Apartments Apartments 8 5,801,900 (b)
CIG Plaza Place LLC Apartments 9 4,993,200 (a)
Silver Creek Valley Apartments 10 4,215,100
Wastewater Customers
Customer Name Type of Business Rank Water Usage Rank Water Usage
Edgefield County Water & Sewer Authority Sewer District Provider 1 701,089,000 1 701,462,000
Halocarbon Chemicals, Inc.Manufacturing 2 64,016,400 3 58,340,300
City of North Augusta Municipal Government 3 39,873,767 2 67,379,100
Crowne Plaza Hotel 4 25,910,033
Allnex Industries, Inc Manufacturing 5 23,141,974 4 43,088,850
Ambiopharm Pharmaceutical Manufacturer 6 11,830,400
JARS at Breckenridge/Plaza Terrace Apartments 7 11,511,300 5 7,969,000
Plaza Place 2020, LLC Apartments 8 10,704,500 10 4,802,800
Graybul Ironwood, LLC Apartments 9 8,628,665
National Healthcare Nursing Home Facility 10 7,253,334 7 6,893,200
Trubild, LLC Mobile Home Park 8 6,635,700 (c)
Willow Wick Apartments Apartments 6 7,513,200
Whispering Woods Apartments Apartments 9 5,625,900 (b)
Note: Consumption is measured in gallons
(a) CIG Plaza Place LLC formerly Plaza Place Apartments, LLC
(b) Whispering Woods Apartments formerly The Housing Authority
(c) Trubild, LLC formerly Gentry's Mobile Home Park
City of North Augusta, South Carolina
Ten Largest Water and Wastewater Customers
Current Year and Nine Years Ago
Source: City of North Augusta utility billing records
2025 Annual Consumption 2016 Annual Consumption
2025 Annual Consumption 2016 Annual Consumption
103
Year Ended
December 31
General
Obligation
Bonds Revenue Bonds
Municipal
Center Lease
Financed
Purchases
Payable
Subscriptions
Payable
Revenue
Bonds
Financed
Purchases
Payable
Subscriptions
Payable
PSA Capacity
Payable
Total Primary
Government
Population
(Estimate) Per Capita
2016 -$ 10,166,337$ 3,466,970$ 1,431,394$ 20,299,376$ 785,635$ - 36,149,712$ 22,932 1,576.39$
2017 - 69,475,000 - 1,306,394 20,982,862 777,781 - 92,542,037 23,275 4,035.50 (b)
2018 - 69,475,000 - 1,174,089 19,877,539 862,405 - 91,389,033 23,444 3,926.49
2019 - 69,475,000 - 1,304,026 18,889,980 852,425 - 90,521,431 23,584 3,838.26
2020 10,250,000 68,825,000 - 1,412,082 18,091,831 1,287,722 - 99,866,635 23,845 4,188.16 (c)
2021 10,250,000 68,085,000 - 2,145,743 17,118,000 1,617,813 - 99,216,556 24,745 4,009.56 (d)
2022 8,592,000 67,375,000 - 2,106,243 16,033,000 1,464,463 - 95,570,706 24,995 3,823.59
2023 6,914,000 66,595,000 - 1,992,029 14,929,000 1,403,910 - 91,833,939 26,117 3,516.25
2024 5,216,000 65,740,000 - 1,252,799 527,178 13,804,000 739,819 343,447 - 87,623,243 26,395 3,319.69
2025 3,498,000 64,760,000 - 581,279 405,557 12,660,000 339,446 264,768 - 82,509,050 26,982 3,057.93
(c) 2020 General Obligation Bonds in the amount of $10,250,000 for the purposes of defraying the costs incurred in connection with all or a portion of designing, developing, and and construction of a new Public Safety Headquarters and related fire apparatus.
(d) 2021 refunding bond to refund 2014 A and 2015 A SC Drinking Water Revolving Loan Fund serial bonds for the City's raw water storage facility and new water treatment plant.
(a)2015 installment purchase revenue bond to construct and equip a parking garage, 2014A and 2015A SC Drinking Water Revolving Loan Fund serial bonds to construct a raw water
storage facility and new water treatment plant.
NOTE: The ratio of outstanding debt by type is expressed in per capita dollar amounts. Personal income figures are not available at the City level.
Source: Population estimates provided by the City of North Augusta Planning and Development Department
(b) 2017 installment purchase revenue bond to construct and equip two parking decks, a stadium, conference facilities, a riverfront park, and certain roads, water, sewer, and
related infrastructure (Series 2017B.) Also included is a $25,000 tax increment revenue bond.
City of North Augusta, South Carolina
Ratio of Outstanding Debt by Type
Last Ten Fiscal Years
Governmental Activities Business-type Activities
104
Year Ended
December 31
General Obligation
Bonds (GOB)
Estimated Actual
Taxable Value (1) of
Property
% of Estimated
Actual Taxable
Value of Property Population (2)Per Capita
2016 -$ 1,654,673,527.18$ 0.00%22,932 -$
2017 -1,828,175,365 0.00%23,275 -
2018 -1,887,487,329 0.00%23,444 -
2019 -1,942,475,306 0.00%23,584 -
2020 10,250,000 (3)2,518,512,288 0.41%23,845 429.86
2021 10,250,000 2,635,148,855 0.39%24,745 414.23
2022 8,592,000 2,990,768,006 0.29%24,995 343.75
2023 6,914,000 3,202,500,621 0.22%26,117 264.73
2024 5,216,000 3,319,420,018 0.16%26,395 197.61
2025 3,498,000 3,536,280,947 0.10%26,982 129.64
Last Ten Fiscal Years
City of North Augusta, South Carolina
Ratios of General Bonded Debt Outstanding
Note: The City had no General Obligation Bond (GOB) debt prior to 2006. During 2006 the City issued its first GOB debt.
The 2006 General Obligation Bonds were defeased in December of 2013 removing the City's financial obligation.
(1) City of North Augusta tax records
(2) The population for year 2010 is provided by the US Census Bureau. Population estimates for all other years are provided by the
City of North Augusta Planning and Development Department.
(3) On November 6, 2018, a favorable bond referendum was held in the City of North Augusta authorizing to the City to issue
not exceeding $10,250,000 of general obligation bonds as part of a favorable Capital Projects Sales Tax referendum. These
bonds were issued in 2020 to construct and equip a public safety headquarters and bond payments will be made from revenues
collected from the capital projects sales tax.
105
Jurisdiction
Debt Outstanding @
December 31, 2025
Percent Applicable to City
of North Augusta
Amount Applicable to City
of North Augusta
Direct Debt
City of North Augusta * 69,244,836$ 100.00%69,244,836$
Overlapping Debt
County of Aiken 33,765,000$ 18.95%6,398,468$
Aiken County School District 132,700,000 18.95%25,146,650
Sub-total - Overlapping Debt 166,465,000 18.95%31,545,119
Total 235,709,836$ 100,789,955$
City of North Augusta, South Carolina
Direct and Overlapping Governmental Activities Debt
As of December 31, 2025
Source: Aiken County and Aiken County School District
assessed value to Aiken County's total taxable assessed value.
* Includes Revenue Bonds and Financed Purchases Payable
Note: The percentage of the overlapping debt applicable to the City of North Augusta is estimated using taxable assessed
property values. Applicable percentages were estimated by determining the percentage of the City's total taxable
106
2016 2017 2018 2019 2020
Debt Limit 7,575,153$ 8,492,530$ 8,777,324$ 9,208,222$ 11,544,533$
Total net debt applicable to limit (a)-- - - -(b)
Legal debt margin 7,575,153$ 7,335,620$ 8,492,530$ 8,777,324$ 11,544,533$
Total net debt applicable to the limit
as a percentage of debt limit 0.00%0.00%0.00%0.00%0.00%
2021 2022 2023 2024 2025
Debt Limit 12,373,671$ 14,118,749$ 15,272,547$ 15,504,221$ 16,306,331$
Total net debt applicable to limit -- - - -
Legal debt margin 12,373,671$ 14,118,749$ 15,272,547$ 15,504,221$ 16,306,331$
Total net debt applicable to the limit
as a percentage of debt limit 0.00%0.00%0.00%0.00%0.00%
City of North Augusta, South Carolina
Fiscal Year
Fiscal Year
Legal Debt Margin Information
(b) On November 6, 2018, a favorable bond referendum was held in the City of North Augusta authorizing the City to issue not exceeding
$10,250,000 of general obligation bonds as part of a favorable Capital Projects Sales Tax referendum. These bonds were issued in 2020 to
construct and equip a public safety headquarters and bond payments will be made from revenues collected from the capital projects sales tax.
Last Ten Fiscal Years
(a) General Obligation Bonds issued in 2006. The 2006 General Obligation Bonds were defeased in December of 2013 removing the City's
financial obligation.
107
Year Ended
December 31
Total Operating
Revenue
Total
Operating
Expenses
Net Revenue
Available for Debt
Service
Revenue Bond
Principal
Revenue Bond
Interest
Total Debt
Service
Coverage
Ratio
2016 9,624,938$ 6,698,524$ 2,926,414$ 1,386,619$ 250,838$ 1,637,457$ 1.79
2017 9,966,389 7,173,112 2,793,277 1,203,043 252,869 1,455,912 1.92
2018 10,252,770 7,214,545 3,038,225 1,139,804 219,035 1,358,839 2.24
2019 10,671,751 7,966,484 2,705,267 1,223,501 205,384 1,428,885 1.89
2020 11,212,356 8,454,040 2,758,316 1,252,348 200,928 1,453,276 1.90
2021 11,725,501 8,110,220 3,615,281 1,141,200 150,556 1,291,756 2.80
2022 11,366,130 8,251,814 3,114,316 1,145,214 139,998 1,285,212 2.42
2023 11,771,234 8,998,304 2,772,930 1,148,385 129,332 1,277,717 2.17
2024 13,412,492 9,426,442 3,986,050 1,150,333 109,440 1,259,773 3.16
2025 13,880,207 11,661,062 2,219,145 1,150,909 107,865 1,258,774 1.76
NOTE: Revenue bond coverage requirements are defined in the City's Revenue Bond Ordinance by the City's Bond Counsel, Pope Flynn LLC, Attorneys and
Counselors at Law, located in Columbia, South Carolina. Coverage is calculated by dividing the annual net revenue available for debt service by the average annual
requirements for principal and interest on all debt outstanding and payable from revenues of the system. Annual net revenue available for debt service is defined as
the total operating revenues (non-operating revenue or interest revenue is not included) less total operating expenses (depreciation or amortization is not included).
Average Annual Remaining Debt Service
City of North Augusta, South Carolina
Pledged-Revenue Bond Coverage
Last Ten Fiscal Years
108
Year Population
Personal Income
(thousands of dollars)
Per Capita Personal
Income Unemployment Rate
2015 165,829 6,200,209$ 37,389$ 5.9%
2016 167,458 6,535,813 39,030 4.8%
2017 168,179 6,837,409 40,656 4.1%
2018 169,401 7,201,441 42,511 3.4%
2019 170,872 7,577,925 44,349 2.9%
2020 172,895 8,146,543 47,118 4.9%
2021 170,776 8,719,369 51,057 3.4%
2022 174,150 8,986,274 51,601 3.2%
2023 177,130 9,544,303 53,883 3.0%
2024 179,245 10,168,289 56,728 4.0%
Source: South Carolina Employment Security Commission
Note 1 - All figures are for the County of Aiken, City of North Augusta statistics are not available.
Year
1940 2,629 49,916
1950 3,659 53,137
1960 10,348 81,038
1970 12,883 91,023
1980 13,593 105,625
1990 15,684 120,940
2000 17,574 142,780
2010 21,348 160,099
2020 23,845 172,895
Note 2 - Personal Income and Per Capita Personal Income figures are not available for 2023.
The United States Census Bureau has recorded the population of the City of North Augusta and County of Aiken in the decennial
years 1940 through 2020 as follows. Population estimates for year 2022 are provided by the City's Planning and Development
Department.
City of North Augusta County of Aiken
County of Aiken, South Carolina (Note 1)
Economic Statistics
Last Ten Calendar Years (Note 2)
109
% of Total % of Total
County County
Employer Location Employees Rank Employment Employees Rank Employment
Savannah River Site - see detail below (1)Out 13,510 1 17.67% 12,528 1 17.64%
Aiken County Public Schools In / Out 3,364 2 4.40% 3,300 2 4.65%
Bridgestone Americas (2)Out 2,217 3 2.90% 1,830 3 2.58%
Kimberly-Clark Corp. Out 2,050 4 2.68% 1,250 4 1.76%
Aiken Regional Medical Center Out 1,240 5 1.62% 1,200 5 1.69%
Aiken County Government Out 1128 6 1.48% 890 6 1.25%
Shaw Industries Out 972 7 1.27% 600 9 0.84%
Advanced Glassfiber Yarn Out 800 8 1.05% 770 8 1.08%
Hubbell Power Systems Out 600 9 0.78% 370 14 0.52%
UPS Customhouse Brokerage Out 600 10 0.78% 450 13 0.63%
City of Aiken Out 463 11 0.61% 471 12 0.66%
Emerson Automation Solutions (b)Out 369 12 0.48%330 16 0.46%
The Calstar Group (a)Out 362 13 0.47%230 20 0.32%
Autoneum North America, Inc.Out 362 14 0.47%
MTU America, Inc Out 330 15 0.43%259 17 0.36%
PACTIV Corp.Out 330 16 0.43%
CVS Distribution Center In 285 17 0.37%
City of North Augusta In 272 18 0.36%245 19 0.34%
Zeus Industrial Products Inc Out 260 19 0.34%
BAE Systems, Inc. Out 253 20 0.33%
TTX/Hamburg Industries, Inc.In 252 18 0.35%
Bridgestone Americas Off Road Out 359 15 0.51%
Medac In 500 11 0.70%
Wal-Mart-North Augusta In 587 10 0.83%
Centerra Out 685 7 0.96%
Source: Economic Development Partnership, Various Employers, and South Carolina Employment Commission
Location: In city limits, Out of city limits
(1)SRNS/SRR, including subcontractors 12,094 (2) Bridgestone Americas Tire Operation 1,667
and temporary construction workers Bridgestone Offroad 550
Centerra 721 2,217
Department of Energy 330
National Nuclear Security Administration 154
Savannah River Ecology Lab 94
US Forestry Service 85
Other Subcontractors 32
13,510
Savannah River Nuclear Solutions/Savannah River Remediation Company employees live in 7 counties in South Carolina and 2 in Georgia
with less than 6% scattered in other areas.
County
# of
workers
Aiken County, South Carolina 6,431
Columbia County, Georgia 1,709
Richmond County, Georgia 1,502
Barnwell County, South Carolina 604
Edgefield County, South Carolina 445
Orangeburg County, South Carolina 127
Bamberg County, South Carolina 79
Lexington County, South Carolina 244
Other 953
12,094
(a) Formerly Carlisle Tire and Wheel Company
(b) Formerly ASCO Valve, Inc.
City of North Augusta, South Carolina
Principal Employers
Current Year and Nine Years Ago
2025 2016
110
Fund / Function / Department 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
General Fund
General Government
City Council 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
City Administration 1.0 1.0 1.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0
Information Technology 1.5 (a) 1.5 1.5 4.0 (e) 4.0 4.0 4.0 4.0 4.0 4.0
Justice and Law 1.0 1.0 1.0 1.0 1.0 1.0 1.0 0.0 0.0 3.0
Finance 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.75
Human Resources 2.0 (b) 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0
Building Standards 4.5 4.5 4.5 4.5 4.5 4.5 4.5 5.25 6.25 7.25
Planning and Development 2.0 2.5 2.5 3.5 3.5 4.5 6.0 6.0 7.0 7.0
City Buildings 0.0 0.0 0.0 0.0 0.0 0.0 2.0 2.0 2.0 2.0
Property Maintenance 14.0 14.0 14.0 15.0 18.0 18.0 18.0 18.0 18.0 18.0
Public Safety 88.0 90.0 90.0 91.0 92.0 92.0 93.0 94.0 98.0 102.0
Public Works
Engineering 2.5 2.5 2.5 3.0 3.0 3.0 2.75 3.00 3.00 4.00
Streets & Drains 10.0 10.0 10.0 10.0 10.0 10.0 11.0 11.0 10.0 10.0
Parks, Recreation & Tourism
Recreation 5.0 4.0 4.0 4.0 4.0 7.0 8.0 8.0 8.0 9.0
Parks 5.0 5.0 5.0 5.0 5.0 6.0 7.0 7.0 8.0 8.0
Community Center 2.0 2.0 2.0 2.0 2.0 1.0 1.0 1.0 1.0 1.0
Tourism 3.0 (f) 3.0 3.0 3.0 3.0 3.0 1.0 1.0 1.0 1.0
RVP Activities 6.0 7.0 7.0 7.0 7.0 5.0 5.0 5.0 4.5 5.5
Sub-total 152.5 155.0 155.0 162.0 166.0 168.0 173.25 174.25 179.75 191.50
Stormwater Fund
Stormwater 5.5 5.0 5.0 5.5 6.0 6.5 6.25 6.25 6.25 6.25
Sub-total 5.5 5.0 5.0 5.5 6.0 6.5 6.25 6.25 6.25 6.25
Riverfront Central Core Dev. Fund
Tourism 0.0 1.0 (d 1.0 1.0 1.0 1.0 1.0 1.0 2.5 2.5
Sub-total 0.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 2.5 2.5
Sanitation Fund
Public Services
Information Technology 0.5 (c) 0.5 0.5 0.0 (e) 0.0 0.0 0.0 0.0 0.0 0.0
Sanitation 25.5 26.5 26.5 25.5 26.5 26.5 26.5 26.5 26.5 26.5
Material Recovery Center 8.5 8.5 8.5 8.5 8.5 8.5 8.5 5.5 6.5 6.5
Sub-total 34.5 35.5 35.5 34.0 35.0 35.0 35.0 32.0 33.0 33.0
Water & Wastewater Fund
Public Utilities
Information Technology 2.0 (a) 2.0 2.0 0.0 (e) 0.0 0.0 0.0 0.0 0.0 0.0
Utilities Finance 4.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.3
Utilities Administration 7.5 7.5 7.5 6.5 6.5 6.5 6.5 6.5 6.5 5.8
Water Operations 8.0 8.0 8.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0
Water Production 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0
Wastewater Operations 10.0 10.0 10.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0
Sub-total 39.5 40.5 40.5 39.5 39.5 39.5 39.5 39.5 39.5 39.0
TOTAL 232.0 237.0 237.0 242.0 247.5 250.0 255.0 253.0 261.0 272.25
(a) Previously included under Finance
(b) Previously included under Administration
(c) Previously included under Sanitation
(d) Previously under Parks, Recreation, and Tourism
(e) Previously split among the General, Sanitation, & Water and Wastewater Funds
(f) Previously included under City Buildings
Source: City of North Augusta Annual Budgets
City of North Augusta, South Carolina
Full-time Budget Equivalent Employees by Fund / Function / Department
Last Ten Fiscal Years
Fiscal Year
111
Function / Program 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
General Government
Size of City (square miles) 21.172 21.177 21.180 21.970 22.210 22.240 22.310 22.355 22.364 22.470
Annexations approved by City Council 211311736 5 2
Building permits issued 668 689 703 779 755 846 1,022 807 793 928
Plumbing permits issued 381 296 358 389 420 496 542 405 411 367
Mechanical permits issued 520 455 494 561 551 612 619 496 505 561
Electrical & Solar permits issued 482 813 618 523 582 725 642 711 713 930
Business licenses issued 1,877 2,017 2,420 2,254 2,302 2,192 2,208 2,319 2,343 2,249
Police
Total calls for service 37,929 37,322 38,112 40,952 32,520 32,847 35,578 34,800 36,245 32,842
Criminal arrests 1,572 1,338 885 1,127 975 1,031 778 638 655 727
Incident reports (police action required) 3,888 3,966 3,797 3,356 3,035 3,105 3,497 2,811 1,871
Accident reports (collisions) 1,187 1,267 1,390 1,191 1,038 1,182 1,162 1,175 1,069 1,028
Traffic offenses (resulting in fine) 7,933 8,261 8,490 9,057 7,677 7,811 7,484 8,923 9,564 10,018
Drug offenses 210 372 214 154 147 153 134 104 59
Burglaries reported 132 93 94 76 59 67 62 64 33 44
Fire
Actual fire calls - Inside City 105 83 377 384 86 399 370 78 521 479
Actual fire calls - Outside City 31 32 56 26 36 21 31 17 52 41
Solid Waste
Garbage Refuse Collected (tons) - Residential 9,334 9,554 9,473 8,613 10,471 11,676 10,793 13,230 13,334 12,214
Garbage Refuse Collected (tons) - Commercial 5,502 6,082 5,647 6,108 6,412 6,362 5,780 3,219 2,987 2,875
Recyclables Collected (tons) 5,047 5,437 5,507 4,312 5,104 4,510 2,181 2,679 2,553 2,569
Property Maintenance
Tree trimming hours 3,516 1,338 2,050 1,202 2,073 1,963 2,677 2,383 2,334 1,443
Mowing hours 12,892 14,036 10,368 11,025 12,651 12,032 11,215 13,526 10,468 13,136
Planting hours 1,388 1,145 1,504 754 1,542 913 1,454 1,637 1,711 1,606
Streets and Drains
Pothole patching / asphalt tons 464 142 132 169 227 225 232 232 151 101
Curb, gutter & sidewalk repair / CY 292 400 294 402 441 414 357 183 62 151
Storm drain inlets cleaned 619 848 664 612 616 537 687 524 980 658
Street sweeping / miles 822 574 563 588 785 697 1,424 416 362 329
Parks and Recreation
Baseball / Number of Players 687 592 576 617 466 578 634 606 526 638
Youth Softball / Number of Players 234 240 221 211 133 207 276 311 264 268
Spring Soccer / Number of Players 532 585 580 567 262 578 667 722 671 538
Fall Soccer / Number of Players 552 493 540 540 470 578 514 548 584 585
Youth Basketball / Number of Players 615 652 577 647 492 701 792 699 703 781
Youth Football / Number of Players 239 219 267 269 202 313 337 350 321 337
Youth Cheerleading / Number of Participants 117 182 164 170 142 196 240 252 261 239
Youth Volleyball / Number of Participants 73 86 82 95 105 132 162 179 211 208
Water
New water taps 184 130 128 103 119 89 210 132 156 131
Water lines installed / L.F. 913 4,115 6,638 6,432 3,230 765 7,230 6,385 3,012 10,746
Water line leaks repaired 27 16 19 18 9 10 26 18 31 38
Average daily water pumped 3,750,000 3,380,000 3,462,000 4,083,000 3,629,000 3,879,000 3,842,000 3,399,000 3,595,000 4,072,000
Daily peak demand (gallons per day) 6,365,000 5,479,000 5,977,000 7,380,000 6,041,000 7,738,000 7,507,000 5,298,000 7,347,000 5,688,000
Peak day 7/29/2016 7/23/2017 9/7/2018 7/12/2019 7/22/2020 6/18/2021 6/13/2022 8/25/2023 7/3/2024 6/25/2025
Wastewater
New sewer taps 212 154 197 187 208 284 252 185 209 180
Wastewater lines installed / L.F.1,259 6,208 8,423 5,077 2,360 765 5,847 11,745 6,219 11,702
Wastewater lines repaired / L.F.556 252 16 47 32 34 64 26 15 24
Wastewater lines cleaned / L.F.57,320 34,516 49,432 67,416 41,057 30,273 27,310 41,197 52,431 139,953
City of North Augusta, South Carolina
Operating Indicators by Function / Program
Last Ten Fiscal Years
Fiscal Year
Source: City of North Augusta's Year-end Departmental Reports
112
Function / Program 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Public Safety
Number of Stations 3333333333
Number of Public Safety Officers 62 64 65 65 65 66 67 71 71 78
Number of Volunteer Firemen 20252020202020202021
Insurance Rating (ISO)Class 2 Class 2 Class 2 Class 2 Class 2 Class 2 Class 2 Class 2 Class 2 Class 2
Signalized Intersections 31323232323435353535
Number of Fire Hydrants
Inside City 814 816 848 848 852 853 860 864 870 880
Outside City 149 149 149 149 150 150 163 163 163 163
Public Works
Miles of Streets 143.77 144.2 144.9 145.75 147.75 149.86 150.85 152.54 153.53 155.16
Street Lights 1,841 1,859 1,980 2,000 2,040 2,075 2,097 2,142 2,154 2,172
Parks, Recreation & Tourism
Number of Parks 22222222232323232323
Park Acreage 550 550 550 550 527 527 527 527 527 527
Miles of Paved Greenway 14.0 14.0 14.0 14.0 14.0 14.0 14.1 14.1 14.1 14.1
Number of Picnic Shelters 9999999999
Baseball / Softball Diamonds 10 10 10 10 10 10 10 10 10 10
Football / Lions Field 2222222222
Soccer Fields 6666666665
Tennis Courts 11 11 11 11 15 15 15 15 15 15
Multi-purpose Fields 3333333335
Community Center 1111111111
Activities Center 1111111111
Water
Miles of Water Lines 229.07 229.84 231.09 232.3 232.74 232.88 234.25 235.45 236.02 238.05
Maximum Pumping Capacity 12,000,000 12,000,000 12,000,000 12,000,000 12,000,000 12,000,000 12,000,000 12,000,000 12,000,000 12,000,000
(gallons per day)
Sewer
Miles of Wastewater Lines 229.57 230.74 232 232.96 233.4 235.71 236.17 238.39 239.56 241.78
Stormwater
Miles of Storm Sewer 68.01 68.47 69.21 70.04 71.66 73.43 74.38 75.98 77.07 79.1
Source: City of North Augusta's Year-end Departmental Reports
(a) In 2014, SCDHEC reduced the City's maximum pumping capacity to 12,000,000 GPD
City of North Augusta, South Carolina
Capital Asset Statistics by Function / Program
Last Ten Fiscal Years
Fiscal Year
113
Meter Size Minimum Usage Debt Service O & M Total Debt Service O & M Total
5/8 and 3/4 Inch 3,000 gallons $3.90 $9.98 $13.88 $5.85 $21.91 $27.761 Inch 6,000 gallons 3.90 15.49 19.39 5.85 32.83 38.68
1 1/2 Inch 9,000 gallons 3.90 20.65 24.55 5.85 43.04 48.89
2 Inch 15,000 gallons 3.90 31.08 34.98 5.85 63.71 69.56
3 Inch 24,000 gallons 3.90 46.89 50.79 5.85 95.00 100.85 4 Inch 30,000 gallons 3.90 57.42 61.32 5.85 115.87 121.72
6 Inch 90,000 gallons 3.90 162.85 166.75 5.85 324.64 330.49
Volume of Consumption Debt Service O & M Total Debt Service O & M Total
Next 10,000 gallons $0.15 $1.30 $1.45 $0.30 $2.60 $2.90
Next 27,000 gallons 0.15 1.25 1.40 0.30 2.50 2.80
Next 160,000 gallons 0.15 1.20 1.35 0.30 2.40 2.70
All Additional Usage 0.15 1.10 1.25 0.30 2.20 2.50
Debt Service O & M Total Debt Service O & M Total
$2.53 $8.69 $11.22 $5.06 $9.69 $14.75
Volume of Consumption Debt Service O & M Total Debt Service O & M Total
$0.90 $3.60 $4.50 $1.52 $3.64 $5.16
All Additional Usage 0.73 2.85 3.58 0.73 2.85 3.58
Inside City Outside City
$21.44 $30.18
Base Fee
Commercial (monthly) In and Out City Inside City Outside City
2 cubic yard container $51.64 $2.86 $4.04
3 cubic yard container 54.05 2.86 4.04
4 cubic yard container 56.44 2.86 4.04
6 cubic yard container 61.73 2.86 4.04 8 cubic yard container 67.54 2.86 4.04
Stormwater Management Service Charges in effect December 31, 2025
Residential Charge (Inside City only)$6.00 per month
Multi-family Charge (Inside City only)$4.50 per month per unit
Non-residential (Inside City only)Each non-residential developed property is classified and charged according to its primary developed use.
Sanitation Service Charges in effect December 31, 2025
Residential (monthly)
Volume Charge (per cubic yard)
City of North Augusta, South Carolina
Enterprise Funds Rates and Charges
Rates / Charges in effect December 31, 2025
Base Rates
Base Rates / Outside City Limits
Volume Rates / Inside City Limits Volume Rates / Outside City Limits
Base Rates / Outside City Limits
Sewer Rate in effect December 31, 2025
Rates for first 15,000,000 gallons/month
Volume Rates / Inside City Limits
Base Rates / Inside City Limits
Base Rates / Inside City Limits
Water Rate in effect December 31, 2025
Volume Rates / Outside City Limits
114
10/1/2024
1/1/2024
10/1/2024
1/1/2024
1/1/2020
1/1/2018
1/1/2017
1/1/2023 Sanitation Rollcart Charge increased $1.77 inside city limits and $2.47 outside city limits.
Commercial Volume Charge increased $0.15 inside city limits and $0.15 outside city limits.
1/1/2022 Sanitation Rollcart Charge increased $0.17 inside city limits and $0.26 outside city limits.
Commercial Volume Charge increased $0.36 inside city limits and $0.36 outside city limits.
1/1/2017 Recycling Service Charge of $3.60 included in Residental and Commercial Service Charges.
Commercial Volume Charge increased $0.19 inside city limits and $0.29 outside city limits.
1/1/2024 Stormwater Management Service charge increased $1.00 per equivalent residential unit (ERU) per month.
O & M Minimum Base Rate increased by $1.00 per month inside city limits and $2.00 per month outside city limits.
O & M Volume Rate increased by $1.00 per 1,000 gallons inside and outside city limits.
O & M Volume Rate increased by $.16 per 1,000 gallons inside and outside city limits (PSA).
O & M Volume Rate increased by $.25 per 1,000 gallons inside and outside city limits (PSA).
City of North Augusta, South Carolina
Enterprise Funds History of Rates and Charges
Last Ten Fiscal Years Through December 31, 2025
O & M Volume Rate and Debt Service Rate increased in total by $0.15 per 1,000 gallons inside and outside city limits (PSA).
History of Sanitation and Recycling Charge Changes (past 10 years)
History of Sewer Rate Changes (past 10 years)
O & M Volume Rate increased by $.20 per 1,000 gallons inside and outside city limits (PSA).
O & M Volume Rate increased by $.20 per 1,000 gallons inside and outside city limits.
History of Water Rate Changes (past 10 years)
O & M Minimum Base Rate increased by $.50 per month inside and outside city limits.
Stormwater Management Service Charge Changes (past 10 years)
115
COMPLIANCE SECTION
MAULDIN & JENKINS, LLC • 508 HAMPTON STREET, 1ST FLOOR • COLUMBIA, SOUTH CAROLINA 29201
803-799-5810 • FAX 803-799-5554 • www.mjcpa.com
MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS
Independent Auditor’s Report on Internal Control over Financial
Reporting and on Compliance and Other Matters Based on an Audit
of Financial Statements Performed in Accordance with Government
Auditing Standards
To the Honorable Mayor and Members
of the City Council
City of North Augusta, South Carolina
We have audited, in accordance with the 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, the financial statements of the governmental activities, the
business-type activities, each major fund, and the aggregate remaining fund information of the City of
North Augusta, South Carolina (the “City”) as of and for the year ended December 31, 2025, and the
related notes to the financial statements, and the budgetary comparison for the General Fund, which
collectively comprise the City’s basic financial statements and have issued our report thereon dated June 15,
2026.
Report on Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the City’s internal control
over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in
the circumstances for the purpose of expressing our opinions on the financial statements, but not for the
purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, we do not
express an opinion on the effectiveness of the City’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management
or employees, in the normal course of performing their assigned functions, to prevent, or detect and
correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of
deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of
the entity’s financial statements will not be prevented, or detected and corrected, on a timely basis. A
significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe
than a material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any
deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses
or significant deficiencies may exist that were not identified.
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Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City’s financial statements are free from
material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts, and grant agreements, noncompliance with which could have a direct and material effect on the
financial statements. However, providing an opinion on compliance with those provisions was not an
objective of our audit, and accordingly, we do not express such an opinion. The results of our tests
disclosed no instances of noncompliance or other matters that are required to be reported under
Government Auditing Standards.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance
and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal
control or on compliance. This report is an integral part of an audit performed in accordance with
Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this
communication is not suitable for any other purpose.
Columbia, South Carolina
June 15, 2026
117
MAULDIN & JENKINS, LLC • 508 HAMPTON STREET, 1ST FLOOR • COLUMBIA, SOUTH CAROLINA 29201
803-799-5810 • FAX 803-799-5554 • www.mjcpa.com
MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS
Independent Auditor’s Report on Compliance for Each Major
Federal Program and Report on Internal Control over Compliance
and Required by the Uniform Guidance
To the Honorable Mayor and Members
of the City Council
City of North Augusta, South Carolina
Report on Compliance for the Major Federal Program
Opinion on the Major Federal Program
We have audited the City of North Augusta, South Carolina’s (the “City") compliance with the types of
compliance requirements identified as subject to audit in the OMB Compliance Supplement that could have a
direct and material effect on the City’s major federal programs for the year ended December 31, 2025. The
City’s major federal programs are identified in the summary of auditor's results section of the accompanying
schedule of findings and questioned costs.
In our opinion, the City complied, in all material respects, with the types of compliance requirements
referred to above that could have a direct and material effect on its major federal programs for the year
ended December 31, 2025.
Basis for Opinion on the Major Federal Program
We conducted our audit of compliance in accordance with auditing standards generally accepted in the
United States of America (GAAS); the standards applicable to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United States and the audit requirements of
Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles,
and Audit Requirements for Federal Awards (Uniform Guidance). Our responsibilities under those standards
and the Uniform Guidance are further described in the Auditor’s Responsibilities for the Audit of
Compliance section of our report.
We are required to be independent of the City and to meet our other ethical responsibilities, in accordance
with relevant ethical requirements relating to our audit. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion on compliance for each major
federal program. Our audit does not provide a legal determination of the City’s compliance with the
compliance requirements referred to above.
Responsibilities of Management for Compliance
Management is responsible for compliance with the requirements referred to above and for the design,
implementation, and maintenance of effective internal control over compliance with the requirements of
laws, statutes, regulations, rules, and provisions of contracts or grant agreements applicable to the City’s
federal programs.
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Auditor’s Responsibility for the Audit of Compliance
Our objectives are to obtain reasonable assurance about whether material noncompliance with the
compliance requirements referred to above occurred, whether due to fraud or error, and express an
opinion on the City’s compliance based on our audit. Reasonable assurance is a high level of assurance but
is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with
GAAS, Government Auditing Standards, and the Uniform Guidance will always detect material noncompliance
when it exists. The risk of not detecting material noncompliance resulting from fraud is higher than for that
resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or
the override of internal control. Noncompliance with the compliance requirements referred to above is
considered material if there is a substantial likelihood that, individually or in the aggregate, it would
influence the judgment made by a reasonable user of the report on compliance about the City’s compliance
with the requirements of each major federal program as a whole.
In performing an audit in accordance with GAAS, Government Auditing Standards, and the Uniform Guidance,
we:
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material noncompliance, whether due to fraud or error, and design
and perform audit procedures responsive to those risks. Such procedures include examining, on a
test basis, evidence regarding the City’s compliance with the compliance requirements referred to
above and performing such other procedures as we considered necessary in the circumstances.
Obtain an understanding of the City’s internal control over compliance relevant to the audit in order
to design audit procedures that are appropriate in the circumstances and to test and report on
internal control over compliance in accordance with the Uniform Guidance, but not for the purpose
of expressing an opinion on the effectiveness of the City’s internal control over compliance.
Accordingly, no such opinion is expressed.
We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit and any significant deficiencies and material weaknesses in internal
control over compliance that we identified during the audit.
Report on Internal Control over Compliance
A deficiency in internal control over compliance exists when the design or operation of a control over
compliance does not allow management or employees, in the normal course of performing their assigned
functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a
federal program on a timely basis. A material weakness in internal control over compliance is a deficiency, or
combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility
that material noncompliance with a type of compliance requirement of a federal program will not be
prevented, or detected and corrected, on a timely basis. A significant deficiency in internal control over
compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type
of compliance requirement of a federal program that is less severe than a material weakness in internal
control over compliance, yet important enough to merit attention by those charged with governance.
Our consideration of internal control over compliance was for the limited purpose described in the Auditor’s
Responsibilities for the Audit of Compliance section above and was not designed to identify all deficiencies
in internal control over compliance that might be material weaknesses or significant deficiencies in internal
control over compliance. Given these limitations, during our audit we did not identify any deficiencies in
internal control over compliance that we consider to be material weaknesses, as defined above. However,
material weaknesses or significant deficiencies may exist that were not identified.
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Our audit was not designed for the purpose of expressing an opinion on the effectiveness of internal control
over compliance. Accordingly, no such opinion is expressed.
The purpose of this report on internal control over compliance is solely to describe the scope of our testing
of internal control over compliance and the results of that testing based on the requirements of the Uniform
Guidance. Accordingly, this report is not suitable for any other purpose.
Columbia, South Carolina
June 15, 2026
120
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Assistance Grant
Federal Grantor/Pass-through Listing Identification
Grantor/Program Title Number Number Expenditures Subrecipients
U.S. Department of the Treasury
Direct:
COVID-19 - Coronavirus State and Local Fiscal
Recovery Funds 21.027 1505-0271 $ 852,894 $ -
Passed through from the S.C. Rural
Infrastructure Authority:
COVID-19 - South Carolina Infrastructure Investment
Program (SCIIP)21.027 A-23-C145 4,989,601 -
Total U.S. Department of the Treasury 5,842,495 -
U.S. Department of Agriculture
Direct:
Emergency Watershed Protection Program 10.923 N/A 93,497 -
Total U.S. Department of Agriculture 93,497 -
U.S. Department of Homeland Security
Passed through from the Federal Emergency
Management Agency:
Disaster Grants - Public Assistance (Presidentially
Declared Disasters)97.036 N/A 830,523 -
Total U.S. Department of Homeland Security 830,523 -
U.S. Department of Justice
Direct:
Community Oriented Policing Grant 16.710 N/A 125,000 -
Total U.S. Department of Justice 125,000 -
U.S. Department of Transportation
Passed through from the S.C. Department
of Public Safety:
Highway Safety Cluster
Police Traffic Services Grant 20.600 N/A 4,863 -
Police Traffic Services Grant 20.600 N/A 72,628 -
Police Traffic Services Grant 20.600 N/A 27,646 -
Police Traffic Services Grant 20.600 N/A 75,560 -
Police Traffic Services Grant 20.600 N/A 25,737 -
Total Highway Safety Cluster 206,434 - .
Total U.S. Department of Transportation 206,434 -
Total Expenditures of Federal Awards $ 7,097,949 $ -
FOR THE YEAR ENDED DECEMBER 31, 2025
Passed
Through to
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CITY OF NORTH AUGUSTA, SOUTH CAROLINA
NOTES TO THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
NOTE 1. SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
The Schedule of Expenditures of Federal Awards includes the federal grant activity of the City of
North Augusta, South Carolina (the “City”) and is prepared on the accrual basis of accounting. The
information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of
Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards (Uniform Guidance).
Program Type Determination
Type A programs are defined as federal programs with federal expenditures exceeding $1,000,000.
The threshold of $1,000,000 was used in distinguishing between Type A and Type B programs.
Method of Major Program Selection
The risk-based approach was used in the selection of federal programs to be tested as major
programs. The City qualified as a low-risk auditee for the fiscal year ended December 31, 2025.
NOTE 2. DE MINIMIS INDIRECT COST RATE
The City chose not to use the allowable 15% de Minimis indirect cost rate for the year ended
December 31, 2025.
NOTE 3. NON-CASH AWARDS AND LOANS
There were no federal awards expended in the form of noncash assistance during the fiscal year.
There were also no loans or loan guarantees outstanding at year end.
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CITY OF NORTH AUGUSTA, SOUTH CAROLINA
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2025
SECTION I
SUMMARY OF AUDIT RESULTS
Financial Statements
Type of report the auditor issued on whether the financial
statements audited were prepared in accordance with GAAP: Unmodified
Internal control over financial reporting:
Material weaknesses identified? Yes X No
Significant deficiencies identified? Yes X None Reported
Noncompliance material to financial statements noted? Yes X No
Federal Awards
Internal control over major programs:
Material weaknesses identified? Yes X No
Significant deficiencies identified? Yes X None Reported
Type of auditor’s report issued on compliance for major programs: Unmodified
Any audit findings disclosed that are required to be reported in
accordance with 2 CFR 200.516(a)? Yes X No
Identification of major programs:
Assistance Listing Number Name of Federal Program or Cluster
U.S. Department of the Treasury –
21.027 COVID-19 Coronavirus State and Local Fiscal Recovery
Funds
Dollar threshold used to distinguish between Type A and Type B programs: $1,000,000
Auditee qualified as low-risk auditee? X Yes No
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CITY OF NORTH AUGUSTA, SOUTH CAROLINA
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2025
SECTION II
FINANCIAL STATEMENT FINDINGS AND RESPONSES
None reported.
SECTION III
FEDERAL AWARD FINDINGS AND QUESTIONED COSTS
None reported.
SECTION IV
PRIOR YEAR FINDINGS AND RESPONSES
None reported.
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