SAMUEL K. ANDERS, C.P.A., M.S.A., P.C.  INFOBSAMANDERSCPA.COM 1.800.467.8299  8004 LINVILLE ROAD SUITE G 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 February 28, 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, andi 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 ofthe 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 in 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 not independent with respect to the Town of Oak Ridge.  ousss  Samuel K. Anders, C.P.A., M.S.A., P.C.  March 1, 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 of February 28, 2023  ASSETS Current Assets Truist Checking Petty Cash Truist Money Market Bank of ORI Money Market Truist Bond Account Bank of OR ICSI Money Market Bank of OR ARP Funding Account Bank of OR ARP ICS Account Bank of OR Water Enterprise Account Piedmont Federal Savings Bank Ad' Valorem Taxi Receivable Sales Tax Refund Receivable  293,361.94 100.00 19,471.52 31,145.21 12,907.63 2,670,890.35 10.00 1,661,985.43 27,821.04 1,000,730.10 7,996.08 7,523.29 5,733,942.59 5,733,942.59  Total Current Assets  Total Assets  LIABILITIES ANDI NET ASSETS Current Liabilities Accounts Payable Payroll Taxes Payable Retirement Contributions Payable Refundable Bonds Other Liabilities  26,371.80 1,824.15 10,407.16 12,907.63 51,510.74 13,961.08 65,471.82 1,685,863.84 205,633.00 507.75 169,242.24 563.00 27,821.04 46,708.46 4,026.01 20,000.00 3,508,105.43 5,733,942.59  Total Current Liabilities  Deferred Inflows of Resources  Total Liabilities  Fund Balance  Fund Balance- Committed- Capital Projects Fund Balance Restricted Stabilization by State Statute Dog Park Veterans Honor Green MST Fund Water Enterprise Fund Solid Waste Disposal Tax Reserve Historic Heritage Grants Conservation Easements/CORE Grants Fund Balance Unassigned  Total Fund Balance 5,668,470.77  TOTAL LIABILITIES ANDI FUND BALANCE  See Accountant's Compilation Report    Towno of Oak Ridge Modified. Accrual Basis February 2023  Statement of Revenues and Expenses, Budget and' Variance  Current Year Current YTD Budget  Current Month  Account Object Description  Variance  3000 Proceeds from Debt 3110 Planning and Zoning Fees 3210 Property Tax Receipts 3220 Excise Tax Receipts 3230 Sales Tax Receipts 3250 Solid Waste Disposal Tax Dist. 3261 Telecommnication Services 3262 Video Programming 3264 Electric Power 3265 Piped Natural Gas 3311 Grants 3325 ABC Distribution 3341 Special Events-Park 3342 Facility Rental 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  1,200,000.00 -1,200,000.00 20,000.00 32,000.00 397,712.00 -135,554.88 66 5,700.00 12,000.00 55,000.00 205,000.00 109,217.92 47 15,000.00 225,000.00 1,300.00 15,500.00 7,000.00 4,500.00 30,000.00 50,000.00 50.00 22,000,00 1.00  700.00 103,261.54 1,070,551.29 1,113,600.00 33,069.13 262,157,12 1,709.44  4,850.00 4,439.42 5,761.29 28,308.00 95,782.08 5,346.04 2,182,53 5,084.00 5,879.00 1,322.15 2,307.90 143.00 29,814.77 2,002.40  -15,150.00 24 -43,048.71 96 -32,000.00 -1,260.58 78 -6,238.71 48 -26,692.00 51 -9,653.96 36 -26,410.00 88 882.53 168 -10,416.00 33 -1,121,00 84 -3,177,85 29 -27,692.10 8 -19,956.25 60 93.00 286 7,814.77 136 2,001.40 **** 44  828,051.00 2,473,051.00 1,645,000.00 33  971.50 139.00 1,000.00 30,043.75 123.00  Total Revenues 140,973.61 2,582,615.74 5,884,414.00 3,301,798.26 44  Expenses 4100  Administrative 1000 Salary-Town Hall Employees 1001 Salary-Governing Body 1008 Medicare Expense 1009 Social Security Expense 1010 Retirement Expense 1011 ealeh/Dental/Vision 1013 Life Insurance 1014 Worker Comp 1015 Unemployment 1016 Disability Insurance 1017 Simple IRA Contribution 1081 Accounting 1082 Consulting 1084 Animal Control 1090 Legal Fees 1091 Tax Collection Fees 1095 Well Monitoring 2610 Office Supplies  26,857.08 191,314.44 1,800.00 14,400.00 409.07 1,749.06 3,249.70 23,148.99 6,600.58 47,707.00 281.28 76.17 165.90 778.68 8,742.04 3,462.00 3,004.17 22,671.43 430.45  303,987.00 112,672.56 63 21,600.00 4,721.00 20,186.00 39,396.00 70,500.00 2,000.00 2,500.00 1,000.00 1,000.00 9,768.00 90,000.00 63,000.00 22,000.00 50,000.00 5,000.00 5,000.00 4,800.00  7,200.00 67 1,791.29 62 7,659.00 62 16,247.01 59 22,793.00 68 396.28 80 271.84 89 661.70 34 -65.46 107 4,167.51 57 11,541.03 87 32,060.80 49 11,772.00 46 27,328.57 45 66.00 99 -500.00 110 1,343.67 72  2,929.71 12,527.00 1,603.72 2,228.16 338.30 1,065.46 5,600.49 78,458.97 30,939.20 10,228.00 4,934.00 5,500.00 3,456.33  See Accountant's Compilation Report    Town of Oak Ridge Modified Accrual Basis February 2023  Statement ofF Revenues and Expenses, Budget and' Variance  Current Year Current YTD Budget 449.46 459.34 1,042,97 819.05 1,408.05 3,837.86 1,225.00 2,648.86 1,158.22 5,236.87 1,646.98 340.00 2,702.71 450.00 395.00 4,186.98 669.81 51.00 8,595.43 549.00 1,060.25 9,537.61 4,506.72 2,320.00 17,973.58 2,483.52 1,230.38 5,453.26 272.23 924.05 3,082.09 90,438.41 5,980.35 7,934.24  Current Month 102.33 359.34 124.46 496.18 1,129.68 1,789.01 29,166.51 63.25 150.00 1,302.08 506.88  Account Object Description 2611 Postage and Delivery 3100 Travel 3101 Travel-Adsinistrative 3120 Mileage Reimbursement 3150 Education 3210 Communications 3320 Web Hosting Fees 3700 Advertising 3950 Dues and Subscriptions 3960 Bank and Merchant Fees 3981 Special Events 3990 Miscellaneous 4210 Board of Adjustment 4220 Historic Preservation Commission 4230 Ordinance Conversion 4240 Planning & Zoning Board 4250 Tree Board 4300 Equipment Lease 4350 MST Committee 4360 Conservation Easement Committee 4500 Liability Insurance Building and Grounds 1083 Security Monitoring 2110 Furnishings 3310 Electricity 3510 Repairs & Maintenance 3515 Cleaning Cultural and Recreation Expense 1004 Salary-other 1008 Medicare Expense 1009 Social Security Expense 1010 Retirement Expense 1011 ealeh/pental/ision 1013 Life Insurance 1014 Worker Comp 1015 Unemployment 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 Capital Expenses  Variance  1,000.00 1,000.00 2,500.00 3,000.00 7,000.00 6,600.00 3,000.00 4,000.00 32,000.00 1,800.00 7,250.00 500.00 500.00 11,800.00 3,000.00 1,000.00 1,500.00 6,600.00 1,500.00 20,000.00 8,000.00 360.00 3,500.00 19,000.00 12,000.00 4,800.00 39,660.00 3,745.00 16,017.00 31,260.00 58,288.00 1,800.00 6,000.00 1,200.00 1,200.00 7,750.00 167,700.00 9,000.00 24,500.00 30,000.00 7,500.00  550.54 45 540.66 46 1,457.03 42 2,180.95 27 5,591.95 20 2,762.14 58 1,775.00 41 1,351.14 66 2,833.49 91 641.78 64 2,013.13 72 -1,146.98 329 160.00 68 9,097.29 23 3,000.00 550.00 45 1,105.00 26 2,413.02 63 830.19 45 19,949.00 -595.43 107 -189.00 153 2,439.75 30 9,462.39 50 7,493.28 38 2,480.00 48 21,686.42 45 87,060.92 66 1,261.48 66 5,397.70 66 13,714.70 56 17,707.00 70 569.62 68 546.74 91 927.77 23 275.95 77 4,667.91 40 77,261.59 54 3,019.65 66 -5,077.52 121 30,000.00 -434.24 106  Total Account  63,629.39 525,541,30  840,008.00 314,466.70 63  5000  1,642.63 304.00 290.00 2,236.63 22,396.28 171,279.08 258,340.00 326.12 1,394.50 10,619.30 2,241.23 17,545.30 4,579.44 40,581.00 199.68 60.73 129.00 305.01 15,038.78 1,873.88 8,025.00 29,577.52 56,569.65 387,400.73  Total Account  6200  Total Account  624,300.00 236,899.27 62  6300  See Accountant's Compilation Report    Town of OakF Ridge Modified/ Accrual Basis February: 2023  Statement ofF Revenues and Expenses, Budget and' Variance  Current Year Current YTD Budget 260,152,41  Current Month  Account Object Description  Variance 11,773.01 59 45,358.59 85  5210 Capital Exp GIS, Computer, etc 5500 Capital Outlay-Equipment and Land Improvements 5700 Capital Outlay-Land and Improvements  17,226.99 17,226.99 22,501.99  29,000.00 305,511.00  5,275.00 190,356.95 5,519,500.00 5,329,143.05 3  Total Account  5,854,011.00 5,386,274.65 B  Total Expenses 144,937,66 1,398,651.96 7,357,979.00 5,959,327.04 19  Net Revenue  -3,964.05 1,183,963.78  See Accountant's Compilation Report    Town of Oak Ridge Supplementary Schedule 1 Account Balances Report- Modified Accrual Basis As of February 28, 2023  Truist, Bank of Oak Ridge, Piedmont Federal  Truist  Checking/Savings  Truist Checking Truist Money Market Truist Bond Account  293,361.94 19,471.52 12,907,63 325,741.09  Total Checking/Savings  Bank of Oak Ridge  Checking/Savings  Bank of OR Money Market Bank of ORI ICS Money Market Bank of OR ARP Funding Acct Bank of OR ARP ICS Account Bank of ORI Water Enterprise Acct  31,145.21 2,670,890.35 10.00 1,661,985.43 27,821.04 4,391,852.03  Total Checking/Savings  Piedmont Federal Savings Bank Piedmont Federal Money Market  Checking/Savings Total Checking/Savings  1,000,730.10 1,000,730.10  See Accountant's Compilation Report      E  E  - B  0  9  8  8    PPP888BB  988  E  B U  DE E  DE  DE  B  LB    199 BPPBPP P8B 399988  DE lE  B  E B B    88B  B tu  BB  WE    888  - B E DE  o A  E B DE  9    P888888BBRPPBRBPPARPPRPBRABRBBE  B    E B    98  8E  DE        Town of Oak Ridge Supplementary Schedule 4 Modified Accrual Basis  Town of Oak Ridge Whitaker Land  Original Loan Date 7/16/2018 - Loan Amount $1,620,000.00 Payment Amount Varies ($180,000.00 + Interest) 10-Year Term @ 6%- Loan End Date 7/16/2027  Date 7/16/2018 7/16/2019 7/16/2020 7/16/2021 7/16/2022 7/16/2023 7/16/2024 7/16/2025 7/16/2026 7/16/2027  Payment 180,000.00 277,200.00 266,400.00 255,600.00 244,800.00  Interest 0.00 97,200.00 86,400.00 75,600.00 64,800.00  Principal 180,000.00 1,620,000.00 180,000.00 1,440,000.00 180,000.00 1,260,000.00 180,000.00 1,080,000.00 180,000.00 900,000.00  Balance  900,000.00 900,000.00 900,000.00 900,000.00  Projected Totals  1,224,000.00  324,000.00  900,000.00  0.00  See Accountant's Compilation Report