SAMUEL K. ANDERS, C.P.A., M.S.A., P.C.  INFOOSAMANDERSCPA.COM 1.800.467.8299  8004 LINVILLE ROAD SUITEG P.O. Box 447 OAK RIDGE, NC 27310  336.643.7577 336.993.3449 FAX: 336.643.3606  To the Town Council Town of Oak Ridge, North Carolina  Management is responsible for the accompanying financial statements of the Town of Oak Ridge which comprise the Balance Sheet - Modified Accrual Basis as of July 31, 2023, and the related Statement of Revenues and Expenses Modified Accrual Basis for the period then ended and the accompanying: supplementary information contained in Schedules 1,2,3, and 4, and for determining the modified accrual basis of accounting is an acceptable financial reporting framework. We have performed a compilation engagement in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee oft the AICPA. We did not audit or review the financial statements and supplementary information nor were we required to perform any procedures to verify the accuracy or completeness of the information provided by management. Accordingly, we do not express an opinion, a conclusion, nor provide any form of assurance on these financial statements and the accompanying supplementary information. The financial statements are prepared in accordance with the modified accrual basis of accounting, which is a basis of accounting other than accounting principles generally accepted in the United Management has elected to omit substantially all of the disclosures required by the modified accrual basis of accounting. Ifthe omitted disclosures were included int the financial statements, they might influence the user's conclusions about the Town's assets, liabilities, fund balance, revenues, and expenses. Accordingly, the financial statements are not designed for those who are not informed  States of America.  about such matters.  We are noti independent with respect to the Town of Oak Ridge.  SGRS  Samuel K. Anders, C.P.A., M.S.A., P.C.  August 3, 2023  MEMBER  AMERICAN INSTITUTE OF CERTIFIED PUBLIC. ACCOUNTANTS NORTH CAROLINA ASSOCIATION OF CERTIFIED PUBLIC ACCOUNTANTS    Town of Oak Ridge Balance Sheet Modified Accrual Basis As ofJuly31,2023  ASSETS Current Assets Truist Checking Petty Cash Truist Money Market Bank of ORI Money Market Truist Bond/ Account Bank of ORI ICS Money Market Bank of OR/ ARP Funding Account Bank of OR ARP ICS Account Bank of ORI Water Enterprise Account Truist HFP Savings Account Truist HFP Checking Account Piedmont Federal Savings Bank Ad' Valorem Tax Receivable Sales Tax Refund Receivable  190,107.07 100.00 19,472.33 31,336.50 12,908.17 1,544,982.59 10.00 1,682,255.64 27,821.04 2,994,148.55 100.00 1,013,990.04 6,044.08 14,743.16 7,538,019.17 7,538,019.17  Total Current Assets  Total Assets  LIABILITIES AND NET ASSETS Current Liabilities Accounts Payable Payrol! Taxes Payable Retirement Contributions Payable Refundable Bonds Other Liabilities  26,371.80 2,098.19 12,854.96 12,908.17 54,233.12 13,961.08 68,194.20 4,549,261.96 205,633.00 507.75 169,242.24 563.00 27,821.04 46,708.46 4,026.01 20,000.00 2,446,061.51 7,538,019.17  Total Current Liabilities  Deferred Inflows of Resources  Totall Liabilities  Fund Balance  FundE Balance Committed- Capital Projects FundE Balance Restricted Stabilization by State Statute Dog Park Veterans Honor Green MSTI Fund Water Enterprise Fund Solid Waste Disposal Taxl Reserve Historic Heritage Grants Conservation Easements/CORE Grants Fund Balance Unassigned  Total Fund Balance 7,469,824.97  TOTAL LIABILITIES AND FUNDI BALANCE  See Accountant's Compilation Report    Townd of Oak Ridge Modified Accrual Basis July 2023  Statement ofF Revenues and Expenses, Budget and' Variance  Current Year Current YTD  Current Month  Account Object Description Revenue 3010 Tap Fees 3015 Water Usage Fees 3110 Planning and Zoning Fees 3210 Property Tax Receipts 3220 Excise Tax Receipts 3230 Sales Tax Receipts 3250 Solid Waste Disposal Tax Dist. 3261 Telecommunication Services 3262 Video Programning 3264 Electric Power 3265 Piped Natural Gas 3311 Grants 3325 ABC Distribution 3341 Special Events-Park 3342 Facility Rental 3343 Program Fees 3344 User Fees 3345 Other Park Revenue Other 3346 ORYA Stipend Revenue 3370 Veterans Honor Green 3380 MST Committee Revenues 3831 Interest Earnings 3839 Miscellaneous Revenues  Budget  Variance  11,000.00 9,603.00 10,000.00 32,000.00 422,000.00 6,000.00 9,000.00 57,334.00 205,000.00 15,000.00 3,885,000.00 250,000.00 22,800.00 14,000.00 1,200.00 10,500.00 3,000.00 30,000.00 50.00 90,000.00 1.00  -11,000.00 -9,603.00 -10,000.00 1,188,615.97 1 -32,000.00 -388,950.89 8 -6,000.00 -9,000.00 -57,334.00 -205,000.00 -15,000.00 -3,885,000.00 190,956.00 24 -19,713.46 14 -12,683.00 9 -1,053.00 12 -6,052.00 42 -2,999.00 -30,000.00 1,105.00 -50.00 90,000.00 -1,00 6,169,906.32 2  11,384.03 33,049.11  11,384.03 1,200,000.00 33,049.11  59,044.00 3,086.54 1,317.00 147.00 4,448.00 1.00 1,105.00  59,044.00 3,086.54 1,317.00 147.00 4,448.00 1.00 1,105.00  Total Revenue  113,581.68  113,581.68 6,283,488.00  Expenses 4100  Administrative 1000 Salary-Town Hall Employees 1001 Salary-soverning Body 1008 Medicare Expense 1009 Social Security Expense 1010 Retirement Expense 1011 1013 Life Insurance 1014 Worker Comp 1015 Unemployment 1016 Disability Insurançe 1017 Simple IRA Contribution 1081 Accounting 1082 Consulting 1084 Animal Control 1090 Legal Fees 1091 Tax Collection Fees  28,164.48 2,300.00 434.85 1,859.42 3,619,12 5,703.14 181.44 2,741.18 24.56 124.32 844.93 20,452.50 876.00 7,043.02  28,164.48 2,300.00 434.85 1,859.42 3,619.12 5,703.14 181.44 2,741.18 24.56 124.32 844.93 20,452.50 876.00 7,043.02  314,266.00 27,600.00 4,957.00 21,196.00 43,930.00 74,730.00 2,835.00 2,800.00 800.00 1,500.00 10,256.00 120,000.00 134,000.00 25,991,00 50,000.00 5,500.00  286,101.52 9 25,300.00 8 4,522,15 9 19,336.58 9 40,310.88 8 69,026.86 8 2,653.56 6 58.82 98 775.44 3 1,375.68 8 9,411.07 8 99,547.50 17 133,124.00 1 25,991.00 42,956.98 14 5,500.00  See Accountant's Compilation Report    Town of Oak Ridge Modified Accrual Basis July 2023  Statement of Revenues and Expenses, Budget and' Variance  Current Year Current YTD  Current Month 32.94 126.00 219.22 17.03 1,250.00 143.42 275.00 27,765.34 63.25 268.30 529.95 378.19 565.49 9,430.67 115,433.76  Account Object Description 1095 Well Monitoring 2610 Office Supplies 2611 Postage and Delivery 3100 Travel 3101 Travel-Aaministrative 3120 Mileage Reimbursement 3150 Education 3210 Communications 3320 Web Hosting Fees 3700 Advertising 3950 Dues and Subscriptions 3960 Bank and Merchant Fees 3970 Elections 3981 Special Events 3990 Miscellaneous 4210 Board of Adjustment 4220 Historic Preservation Commission 4230 Ordinance Conversion 4240 Planning k Zoning Board 4250 Tree Board 4300 Equipment Lease 4350 MST Committee 4360 Conservation Easement Committee 4500 Liability Insurance 4200 Water operating Expenses 4600 Management Fee 4610 Customer Service Fee 4620 Transfer to Contingency Reserve 4630 Meter Cost 5000 Building and Grounds 1083 Security Monitoring 2110 Furnishings 3310 Electricity 3510 Repairs & Maintenance 3515 Cleaning 6200 1004 Salary-other 1008 Medicare Expense 1009 Social Security Expense 1010 Retirement Expense 1011 Mealth/Dentai/Vision 1013 Life Insurance 1014 Worker Comp 1015 Unemployment  Budget 5,500.00 5,500.00 1,000.00 1,000.00 3,000.00 3,000.00 6,000.00 6,000.00 3,000.00 4,000,00 35,000.00 2,000.00 5,000.00 17,587.00 500.00 500.00 17,990.00 3,000.00 1,000.00 1,500.00 6,600.00 1,500.00 20,000.00 10,000.00 15,000.00 561.00 480.00 11,000.00 27,041.00 700.00 3,500.00 19,000.00 12,000.00 6,000.00 41,200.00 271,257.00 3,933.00 16,818.00 34,857.00 61,785.00 1,890.00 5,726.00 1,000.00  Variance  5,500.00 5,467.06 1 874.00 13 1,000.00 2,780.78 7 2,982.97 1 4,750.00 21 5,856.58 2 2,725.00 9 4,000.00 7,234.66 79 1,936.75 3 5,000.00 17,318.70 2 500.00 500.00 17,460.05 3 3,000.00 1,000.00 1,121.81 25 6,034.51 9 1,500.00 20,000,00 569.33 94 885,104.24 12 15,000.00 561,00 480.00 11,000.00 27,041.00 595.00 15 3,500.00 17,722,67 7 8,382.00 30 5,660.00 6 35,859.67 13 247,676.47 9 3,591.11 9 15,356.04 9 32,420.71 7 56,535.46 8 1,802.96 5 160.00 97 958.29  32.94 126.00 219.22 17.03 1,250.00 143.42 275,00 27,765.34 63.25 268.30 529.95 378.19 565.49 9,430.67 115,433.76 1,000,538.00  Total Account  Total Account  105.00 1,277.33 3,618.00 340.00 5,340.33 23,580.53 341.89 1,461.96 2,436.29 5,249.54 87.04 5,566.00 41.71  105.00 1,277.33 3,618.00 340.00 5,340.33 23,580.53 341.89 1,461.96 2,436.29 5,249.54 87.04 5,566.00 41.71  Total Account  Cultural and Recreation Expense  See Accountant's Compilation Report    Towno of Oak Ridge Modified Accrual Basis July2 2023  Statement of Revenues and Expenses, Budget and' Variance  Current Year Current Month Current YTD 108.69 108.69 568.79 568.79 14,474.24 14,474.24 3,968.37 3,968.37 8,033.54 8,033.54 65,918.59 65,918.59 218.75 218.75 33,325.21 33,325.21 4,327,000.00 26,461.95 26,461.95 60,005.91 60,005.91  Account Object Deacription 1016 Disability Insurance 1017 Simple IRA Contribution 3500 Operations and Maintenance 3833 Contributions to Other Agencies 3981 Special Events 3983 ORYA Stipend Expense 4500 Liability Insurance  Budget 1,200,00 6,000.00 174,900.00 9,000.00 42,000.00 30,000.00 8,500.00 668,866.00 7,250.00 353,933.00 6,425,828.00  Variance  1,091.31 9 5,431.21 9 160,425.76 8 9,000.00 38,031.63 9 30,000.00 466.46 95 602,947.41 10 7,031,25 3 4,293,674.79 1 327,471.05 7 6,179,129.41 4  Total Account  6300  Capital Expenses 5210 Capital Exp GIS, Computer, etc 5500 Capital Outlay-Equipment and Land Improvements 5700 Capital Outlay-E Park Land and Debt Service  Total Account  1  Total Expenses Net Revenue  -133,116.91  See Accountant's Compilation Report    Town of Oak Ridge Supplementary Schedule 1 Account Balances Report- Modified Accrual Basis As of. July 31, 2023  Truist, Bank of Oak Ridge, Piedmont Federal  Truist  Truist Checking Truist Money Market Truist HFP Savings Account Truist HFP Checking Account Truist Bond Account Total Truist. Accounts  190,107.07 19,472.33 2,994,148.55 100.00 12,908.17 3,216,736.12  Bank of Oak Ridge Bank of OR Money Market Bank of OR ICS Money Market Bank of OR ARP Funding Acct Bank of OR ARP ICS Account Bank of OR Water Enterprise Acct Total Bank of Oak Ridge Accounts  31,336.50 1,544,982.59 10.00 1,682,255.64 27,821.04 3,286,405.77  Piedmont Federal Savings Bank Piedmont Federal Money Market Total Piedmont Federal  1,013,990.04 1,013,990.04  See Accountant's Compilation Report    8  6  8  6  de I  3 20  5 aR  AR a  888  B5B 8BBB BBB S8BB    A  R A 3  A A a  a R R A A  B  iiii  50  SE 28 s 33 SR  a  - a  f   6 EBB 6    A  B e N  de R 9  aa  66 AILA  a  RS  0  55  8d    a  R RB  RB DB  N  3888 888888    6  6 -  8  A  s -  N  AR  868  868  66  55    B  A  A A  A  6  3865  ttbltbtbbetttbbettetet    a.  R RR  BBBBBBBBBeBE tettttbteteuet    B RR  88888 B5        Town of Oak Ridge Supplementary Schedule 4 Modified Accrual Basis  Town of Oak Ridge Truist Heritage Farm Park Loan Original Loan Date 4/6/2023 L Loan Amount $3,000,000.00 Monthly Payment Amount $16,666.67 Principal + Interest 15-Year Term @ 3.94% Loan End Date 5/1/2038  Date 6/1/2023 2023-2024 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2030 2030-2031 2031-2032 2032-2033 2033-2034 2034-2035 2035-2036 2036-2037 2037-2038  Payments 34,725.00 313,931.71 306,051.71 298,171.70 290,291.71 282,411.70 274,531.69 266,651.69 258,771.70 250,891.69 243,011.69 235,131.70 227,251.69 219,371.69 211,491.68 186,945.01  Interest 18,058.33 113,931.67 106,051.67 98,171.66 90,291.67 82,411.66 74,531.65 66,651.65 58,771.66 50,891.65 43,011.65 35,131.66 27,251.65 19,371.65 11,491.64 3,612.24  Principal 16,666.67 2,983,333.33 200,000.04 2,783,333.29 200,000.04 2,583,333.25 200,000.04 2,383,333.21 200,000.04 2,183,333.17 200,000.04 1,983,333.13 200,000.04 1,783,333.09 200,000.04 1,583,333.05 200,000.04 1,383,333.01 200,000.04 1,183,332.97 200,000.04 983,332.93 200,000.04 783,332.89 200,000.04 583,332.85 200,000.04 200,000.04 183,332.77 183,332.77  Balance  383,332.81 0.00 0.00  Totals 3,899,633.76  899,633.76 3,000,000.00  See Accountant's Compilation Report