Situated in the heart of North Carolina, the Town of Chapel Hill is located in Orange County (and part of Durham County), and dubbed the “Southern Part of Heaven” (Town of Chapel Hill, 2014). Serving home to the University of North Carolina at Chapel Hill, along with UNC Health Care and UNC Children’s Hospital, it is the 16th largest municipality in North Carolina, with an assorted population of over 58,424 residents (Chapel Hill Community Overview, 2014).
The Town of Chapel Hill is a vibrant mix of college-aged students and younger families within the area. The demographics of the town provide to the town’s financial health, along with the region’s fiscal economy. With a major hospital and one of the best public schools in the state and country, much of the growth within the town can be attributed to employment opportunities, medical research, and the diversity in students that the university attracts. The town has seen strong population growth over the past 20 years, growing over 40% with 25% between 1990 and 2000, and 12.4% between 2000 and 2010 (Chapel Hill Community Overview, 2014).
The following report is an analysis of the financial condition of the Town of Chapel Hill, and focuses primarily on the General Fund. The analysis draws upon the information given by the 2010-2011, 2011-2012, & 2012-2013 Budget Documents, as well as the 2008-2009, 2009-2010, 2011-2012, 2012-2013 Comprehensive Annual Financial Reports (CAFR). This paper provides an overview of the governance structure and the organizations who are responsible for fiscal supervision. Also covered are the cash solvency, budgetary solvency, and long-term financial condition. The conclusion will discuss the implications of Chapel Hill’s fin...
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Budget 2013-2014. http://www.townofchapelhill.org/Modules/ShowDocument.aspx?documentid=20969
Chapel Hill Community Overview, 2014. The Town of Chapel Hill – Residential Market Study. Retrieved from: http://www.ci.chapel-hill.nc.us/Modules/ShowDocument.aspx?documentid=9018
Mayor Comments for Council Committee on Economic Development (2011). Economic Development- Town of Chapel Hill. Retrieved from; http://www.ci.chapel-hill.nc.us/Modules/ShowDocument.aspx?documentid=9796
Financial Statements (2014). Town of Chapel Hill. Retrieved from: http://www.townofchapelhill.org/index.aspx?page=163
Mayor K. http://www.townofchapelhill.org/index.aspx?page=97
Business Management (2014). Finance Deparment – Town of Chapel Hill. Retrieved from: http://www.townofchapelhill.org/index.aspx?page=69
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