1. CITY OF HAPEVILLE FINANCIAL STATEMENT ANALYSIS NINE MONTHS ENDED MARCH 31, 2009

2. Revenues Breakdown Revenue Chart Expenditures Breakdown Expenditures Chart Estimated Year Ending June 30, 2009 Schedule of Taxes Schedule of Taxes Chart 2008 Tax Digest Accounts Receivable – Property Taxes Fund Balances and Reserves

3. Nine Months General Fund Ended March 31, 2009 Receipts: Taxes 7,850,072 Licenses and permits 159,980 Charge for services 446,916 Fines and forfeitures 378,361 Interest income 10,084 Contributions 15,414 Other income 200 Other financing sources 690,386 Total Receipts 9,551,413

5. Expenditures: Council, Mayor and Elections 31,445 City Clerk 120,292 Financial Administration 1,094,013 Law 173,878 Municipal Court 39,985 Police Administration 1,999,514 Fire Administration 1,799,687 Highway and Streets Administration 429,657 Participant Recreation 307,333 Park Areas 470,916 Planning and Zoning 86,324 Code Enforcement 63,113 Economic Development 190,008 Main Street 11,170 Total Expenditures 6,817,335

7. Estimated General Fund Nine Months Three Months Estimated Budget Variance Ended Ending Year Ending Current Year Over March 31, 2009 June 30, 2009 2009 (Under) Total Receipts 9,551,413 1,192,938 10,744,351 11,013,287 (268,936) Total Expenditures 6,817,335 2,238,694 9,056,029 9,585,749 (529,720) Net Receipts over Expenditures 2,734,078 (1,045,757) 1,688,321 1,427,538 260,783

8. Nine Months Estimated Three Total Ended MarchMonths EndingTwelve Months Over 2009 June 30, 2009 Ending June 30, 2009 Budget (Under) Property Taxes 4,538,196 163,000 4,701,196 4,650,000 51,196 Motor Vehicle 449,764 29,250 479,014 117,000 362,014 Real Estate Transfer 45,374 29,926 75,300 95,300 (20,000) Franchise Taxes 674,529 - 618,000 56,529 Local Option Sales Taxes 1,166,447 360,000 1,526,447 1,635,000 (108,553) Car Rental Tax 42,176 13,500 55,676 58,000 (2,324) Alcohol Beverage Taxes 152,920 45,000 197,920 216,000 (18,080) Occupational Tax Fees 318,425 87,500 405,925 277,000 128,925 Insurance Premium Tax 355,184 - 338,000 17,184 Property Tax Penalties 87,299 5,000 92,299 50,000 42,299 Other Taxes 19,759 100 19,859 11,700 8,159 Total Taxes 7,850,073 733,276 8,583,349 8,066,000 517,349

10. As of May 4, 2009 Settled Adjusted 2008 Original Appeals 2008 2007 Increase 2008 To Date Digest (Decrease) Digest 03/09/09 05/04/09 Real Property 256,195,680 65,728,840 321,924,520 (30,669,490) 291,255,030 Pesonal Property 52,691,121 (2,843,775) 49,847,346 2,961,664 52,809,010 County M&O Exemptions (1,180,420) 669,640 (510,780) (278,750) (789,530) City Homestead Exemptions (9,280,000) - - - Taxable Digest 298,426,381 63,554,705 361,981,086 (27,986,576) 333,994,510 - Property Tax 4,956,862 1,055,644 6,012,506 (464,857) 5,547,649 Taxable Digest 361,981,086 4,924,363 Less: Assessed Value (161,000,000) Add: Tax Collection Order 95,000,000 623,286 Estimated Re-Billing T.C.O. Billable Digest 295,981,086 Release of T.C.O. Taxes Billed 4,924,363 2008 Tax Digest Update

11. Total Taxes Billed, 5/04/09 4,924,363 Amounts Collected: Real Property Taxes 3,829,964 Personal Property Taxes 673,426 Total Property Taxes Collected 4,503,39091.45% Property Taxes Receivable, 5/04/09 420,973 Summary: Property Owners 302,973 State of Georgia 118,000 420,973

12. Fund Balance, June 30, 2009 3,698,321.00 Operating Reserve 30% Expenditures of $9,585,749 2,875,724.70 Capital Improvement Reserve 250,000.00 Vehicle Replacement Reserve 250,000.00 Debt Retirement Reserve 250,000.00 Unreserved 72,596.30 Total Reserves 3,698,321.00