BOROUGH OF CARLISLE PENNSYLVANIA

BOROUGH OF CARLISLE
PENNSYLVANIA
“Committed to Excellence In Community Service!”
COMPREHENSIVE
ANNUAL
FINANCIAL
REPORT
FOR THE YEAR ENDED DECEMBER 31, 2020
PREPARED BY THE DEPARTMENT OF FINANCE

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Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
Borough of Carlisle
Pennsylvania
For its Comprehensive Annual
Financial Report
For the Fiscal Year Ended
December 31, 2019
Executive Director/CEO

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CONTENTS PAGE
INTRODUCTORY S ECTION
I - VI
VII
Letter of Transmittal
Organization Chart
List of Principal Officials VIII
FINANCIAL S ECTION
INDEPENDENT AUDITOR' S REPORT 	1 - 3
M ANAGEMENT' S DISCUSSION AND ANALYSIS ‐ U NAUDITED 	4 - 16
BASIC F INANCIAL S TATEMENTS
Government‐wide Financial Statements
Statement of net position 	17
Statement of activities 	18
Fund Financial Statements
Governmental Funds
Balance Sheet 	19
Reconciliation of the governmental funds balance sheet to the
statement of net position 	20
Statement of revenues, expenditures, and changes in fund balance 	21
Reconciliation of statement of revenues, expenditures, and changes in
fund balances of governmental funds to the statement of activities 	22
Proprietary Funds
Statement of net position 	23
Statement of revenues, expenses, and changes in fund net
position 	24
Statement of cash flows 	25 - 26
Fiduciary Funds
Statement of fiduciary net position 	27
Statement of changes in fiduciary net position 	28
Notes to financial statements 	29 - 68
REQUIRED S UPPLEMENTARY INFORMATION ‐ U NAUDITED
Schedule of changes in the Borough’s net pension liability (asset) and
related ratios – pension plans 	69
Schedule of Borough contributions – pension plans 	70
Schedule of investment returns – pension plans 	71
Schedule of changes in the Borough’s total OPEB liability and related
ratios 	72
Budgetary comparison schedule - general fund 	73
Notes to budgetary comparison schedule 	74
OTHER S UPPLEMENTARY INFORMATION
Governmental Funds
Combining balance sheet - other governmental funds 	75
Combining statement of revenue, expenditures, and changes in
fund balances- other governmental funds 	76
Budgetary comparison schedule - other special revenue fund -
highway aid 	77
Budgetary comparison schedule - other special revenue fund -
asset forfeiture 	78
Budgetary comparison schedule – capital projects fund 	79

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CONTENTS (Continued) PAGE
Pension Trust Funds
Combining statement of fiduciary net position - pension trust funds 	80
Combining statement of changes in fiduciary net position - pension
trust funds 	81
Future Debt Service Requirements 	82 - 83
Schedule of Indebtedness 	84 - 88
S TATISTICAL S ECTION
F INANCIAL T RENDS
Net position by component - last ten fiscal years 	89
Changes in net position - last ten fiscal years 	90 - 91
Fund balances, governmental funds - last ten fiscal years 	92
Changes in fund balances, governmental funds - last ten fiscal years 	93
REVENUE C APACITY
Assessed value and estimated actual value of taxable property - last
ten years 	94
Directed and overlapping property tax rates - last ten fiscal years 	95
Principal property taxpayers 	96
Property tax levies and collections 	97
DEBT C APACITY
Ratios of outstanding debt by type - last ten fiscal years 	98
Ratios of general bonded debt outstanding - last ten fiscal years 	99
Direct and overlapping governmental activities debt 	100
Legal debt margin information 	101
D EMOGRAPHIC AND E CONOMIC INFORMATION
Demographic and economic statistics - last ten years 	102
Principal employers - current year and ten years ago 	103
OPERATING INFORMATION
Full-time equivalent borough employees by function/program - last
ten fiscal years 	104
Operating indicators by function/program - last ten fiscal years 	105
Capital asset statistics by function/program - last ten fiscal years 	106
S INGLE AUDIT S ECTION
S CHEDULE OF E XPENDITURES OF F EDERAL AWARDS 	107
NOTES TO S CHEDULE OF E XPENDITURES OF F EDERAL AWARDS 	108
INDEPENDENT AUDITOR’S REPORT ON I NTERNAL C ONTROL OVER F INANCIAL
REPORTING AND ON C OMPLIANCE AND OTHER M ATTERS BASED ON AN AUDIT
OF F INANCIAL S TATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING S TANDARDS 	109 - 110
INDEPENDENT AUDITOR’S REPORT ON C OMPLIANCE FOR E ACH M AJOR PROGRAM
AND REPORT ON INTERNAL C ONTROL OVER C OMPLIANCE REQUIRED BY THE
U NIFORM GUIDANCE 	111 - 112
S CHEDULE OF F INDINGS AND QUESTIONED C OSTS 	113 - 114
S UMMARY S CHEDULE OF PRIOR AUDIT F INDINGS 	115

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INTRODUCTORY S ECTION

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BOROUGH OF CARLISLE
“Committed To Excellence in Community Service”
I
July 27, 2021
To the Mayor & Council, Residents, and Taxpayers of Carlisle:
The Comprehensive Annual Financial Report (Annual Report) for the Borough of Carlisle for the fiscal
year ended December 31, 2020 is herewith submitted for your consideration. This report was prepared
by the Borough's finance and administration departments and includes the Borough’s annual audit
report prepared by the accounting firm of Smith Elliott Kearns & Company, LLC, the Borough’s
independent auditor.
Responsibility for the accuracy, completeness, and fairness of the financial statements, including all
disclosures, rests with Borough management. We believe the enclosed information as presented is
accurate in all material respects; that its presentation fairly shows the financial position and the results
of the Borough’s operations as measured by the financial activity of its various funds; and that all
necessary disclosures will provide the reader with a sound understanding of the Borough’s financial
activities.
The organization, form, and content of the Annual Report and the accompanying financial statements
and statistical tables were prepared in accordance with the standards established by the Governmental
Accounting Standards Board (GASB) and the Government Finance Officers Association (GFOA). GASB
34 (Basic Financial Statements and Management’s Discussion and Analysis for State and Local
Governments) requires management provide a narrative introduction, overview, and analysis to
accompany the basic financial statements in the form of a management discussion & analysis (MD&A)
section. This letter is designed to complement the MD&A and should be read in conjunction with it. The
MD&A can be found immediately following the report of the independent auditor.
Financial Reporting Entity
The Annual Report includes all funds utilized by the Borough in its operations to provide a full range of
municipal services. These services include administrative and financial services, police and fire
protection, sanitation services, maintenance and construction of streets, planning/zoning/code
enforcement, water supply and distribution, stormwater management and conveyance, wastewater
collection and treatment, community development, recreational activities and cultural events, and the
maintenance of parking facilities.
Key Report Sections
The introductory section includes information about the Borough, its local economy, future outlook,
major initiatives and budget control. The financial section includes the MD&A, basic financial
statements, notes to the basic financial statements, and required supplementary information. The basic
financial statements include the government-wide financial statements reporting all Borough financial
operations and fund financial statements that present information for all separate Borough funds. The
independent auditor’s report on the basic financial statements is also included. The statistical section
includes up to ten years of historical financial data and miscellaneous social and economic information
that conforms to GASB 44 standards for reporting. This section may be of special interest to holders of
and prospective investors in the Borough’s bonds, notes, and other debt instruments.

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Mayor & Council, Residents and Taxpayers
July 27, 2021
Page 2 of 6
II
Location and Government
Historic Carlisle is located in the beautiful and highly productive agricultural Cumberland Valley in
south-central Pennsylvania. It was established in 1751, incorporated in 1782, and is the county seat of
Cumberland County.
Carlisle is 5.5 square miles in area and has a population of 19,116. It sits at the crossroads of I-81 and I-
76 (the Pennsylvania Turnpike) making it one of the busiest transportation hubs in the U.S.
Additionally, it is 20 miles south of the Harrisburg International Airport and 80 miles northwest of the
Baltimore-Washington International Airport.
In May 2015, voters decisively approved a home rule charter making Carlisle one of the few
Pennsylvania municipalities governed under home rule. The Borough continues to operate under the
council/manager form of government. The Borough Manager is the chief administrative officer charged
with the management of all municipal departments and reports directly to a seven-member body
elected at large and comprised of the Mayor and Borough Council.
Economy
The local economy is diversified and stable. Principal industrial products manufactured or distributed
in Carlisle include premium building products, standard and custom cabinets, apparel, and food
products. Non-manufacturing segments of Carlisle’s economy include professional services, higher
education, and government. Several prominent reasons for this stability include, but are not limited to,
the location of the following institutions and businesses in or within close proximity to the Borough:
 	Dickinson College - Chartered in 1783 and located in the Borough, it is one of the oldest, private,
four-year liberal arts colleges in the nation. An award-winning national leader in sustainability
and best practices, the college achieved carbon neutral status in 2020, an accomplishment that
only 10 colleges and universities in the nation have achieved.
 	Penn State Dickinson Law - Founded in 1834 and located in the Borough, it is one of the oldest
law schools in the nation and is touted for its experiential learning environment.
 	The U.S. Army War College - is a U.S. Army educational institution located in the Borough and
adjacent township. This 500-acre campus is situated on the historic Carlisle Barracks and is
considered a premier advanced training facility for the U.S. Army. It contains some of the most
sophisticated computer technology simulation equipment in the armed forces.
 	The U.S. Army Heritage and Education Center - Located just outside the Borough, it is the U.S.
Army's preeminent museum and research complex.
 	Carlisle Events - Located in and around the Borough, this venue is world renowned for its
annual car shows throughout the spring, summer, and fall drawing thousands of people
annually to Carlisle.
 	Central Pennsylvania Youth Ballet - Located in the Borough, it is an internationally-renowned
ballet school and performing company and known for its artistic leadership and curriculum
focused on artistic development.

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Mayor & Council, Residents and Taxpayers
July 27, 2021
Page 3 of 6
III
 	Within a relatively short distance of Carlisle are a number of other institutions of higher
learning including Shippensburg University, Messiah College, Central Penn College, Widener
School of Law, Harrisburg Area Community College, Penn State University’s Capitol Campus,
and Penn State University’s Milton S. Hershey Medical Center.
Outlook
Given the above and many other readily available examples too numerous to mention here, Carlisle has
remained stable and continues to evaluate and implement polices to ensure continued sound financial
management.
Long‐Term Financial Planning
The Borough is committed to providing value to residents and taxpayers by maintaining quality service
levels and offering new programs and/or services whenever opportunities present themselves and
when the Borough’s financial position permits. To further this commitment, the Borough periodically
evaluates its revenue generating capacity and conducts long-term projections of its finances. In
addition, Carlisle develops and maintains a five-year capital improvements program.
As part of sound financial planning, the Borough follows the GFOA recommendation of maintaining
strong overall fund balances/net position. The Borough has targets of fund balance as a percentage of
annual expenditures/expenses in its more significant funds as follows: general fund (25%), water fund
(25%), stormwater fund (25%), sewer fund (50%), solid waste fund (25%), and parking fund (50%).
Relevant Financial Policies
Borough management is responsible for establishing and maintaining an internal control structure
designed to ensure the assets of the Borough are protected from loss, theft, or misuse and to ensure
adequate accounting information is compiled to prepare financial statements in accordance with
generally accepted accounting principles. The Borough’s internal control structure is designed to
provide reasonable (but not absolute) assurance that these objectives are met. Reasonable assurance
recognizes the cost of an internal control should not exceed the benefits likely to be derived and the
evaluation of costs and benefits requires estimates and judgments by Borough management. Article V
of the Home Rule Charter and Chapter 27 of the Code of the Borough of Carlisle provide for fiscal and
budgetary control. That budget control requires a balanced operating budget where current operating
revenues equal current operating expenditures. The Borough Manager may transfer funds within a
department, but transfers between departments and funds as well as supplemental appropriations
must be approved by Borough Council. Capital expenditures must be funded through designated
revenues, debt proceeds, inter-governmental grants, private contributions, or cash reserves.
Reflecting Back on 2020
During 2020, the Borough made a number of noteworthy initiatives that have either been undertaken
and/or successfully completed. Below is just a snapshot of COVID-19 (Pandemic) strategies and
Borough-wide accomplishments during the unprecedented year.

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Mayor & Council, Residents and Taxpayers
July 27, 2021
Page 4 of 6
IV
Pandemic Operations, Community Support, and Recovery
Pandemic Operations
 	Engaged in Emergency Services Preparedness coordination with Cumberland County in
response to the Pandemic
 	Instituted precautionary measures for employees including shift modifications, teleworking,
and offering Personal Protective Equipment
 	Hygiene and social distancing enhancements were made at Borough facilities
 	Permitted and accommodated Curbside pickup for the benefit of downtown patrons
 	Compost facility remained opened and hours of operations were expanded
 	Modified Parks & Recreation programming in response to the public health crisis
 	Maintained consistent compliance with Center for Disease Control and the Pennsylvania
Governor’s Orders
 	Maintained a viable inventory of drinking water sampling locations during the Pandemic when
access to a number of locations throughout the service area was limited
COVID‐19 Community Support
 	Carlisle Area Emergency Response Fund Committee was established and raised over $120,000
for emerging health-related needs within Carlisle community
 	Transitioned the Borough’s Stuart Community Center into temporary homeless shelter
operation for use by Carlisle CARES
 	Moratorium was placed on utility bill terminations and late penalty assessments which will
continue into 2021
 	Flexible utility bill agreements were offered to customers with past due balances
 	Suspended residential parking enforcement to offer relief to residents that were complying
with the Pennsylvania Governor’s Stay-at-Home Orders
 	Provided temporary free on-street and off-street parking
 	Pushed back the real estate tax penalty deadline from July 1, 2020 to November 1, 2020 for the
benefit of property owners who may have been impacted by the rising unemployment
 	In-house assembly, coordination and delivery of 1,075 replacement recycling bins and 5,000
toters.
 	Provided contactless purchasing and home delivery of approximately 1,000 Borough trash
bags to residents
 	Hosted two mobile flu clinics that was spearheaded by a Borough resident
COVID‐19 Recovery
 	COVID-19 Forum was convened to set priorities and cooperative approach for managing
available resources (CDBG, CARES Act)
 	Small Business Group Committee was established focusing on small business support during
COVID-19 and post-recovery strategies
 	Community Action Network forum was held and connected people to needed resources
 	Distributed $149,750 in small business grants through the CARES Act
 	Suspended sidewalk ordinance to allow C-1 businesses ability to expand footprint for patrons
 	Temporarily lifted open container ordinance in C-1 Business District
 	Permitted commercial use in public park space
 	Allowed use of public parking areas for expanded business activities

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Mayor & Council, Residents and Taxpayers
July 27, 2021
Page 5 of 6
V
Community & Economic Initiatives
 	Continued the implementation of the Carlisle Urban Redevelopment Plan (CURP), including
approval of Northside Village land development plans and beginning of TIGER Project
infrastructure improvements
 	Pursued and awarded grants totaling $1,258,693 ($1M Carlisle Connectivity Project 1;
$ 258,693 Renew Cumberland)
 	Advanced the Borough’s HOME program that addresses blight and provides homeownership
opportunities to first-time homebuyers
 	Drafted a Rental Housing Inspection Ordinance with possible implementation to occur in 2021
 	Police Department elevated its bicycle patrol program to further engage with the community
 	Committed to open community dialogue incorporating awareness and education regarding
racism in the Borough of Carlisle
Government Transparency
 	Transitioned public meetings to a virtual platform and began livestreaming meetings to
Facebook
 	Increased social media presence on Facebook and began utilizing LinkedIn as additional social
media outlet
 	Increased Police Department transparency with meeting presentations, Q & A documents, and
the posting of police department policies on the Borough’s website
Infrastructure
 	TIGER Project construction and infrastructure improvements started
 	Completed three separate Sanitary Sewer System Rehabilitation projects in the northeastern
portion of the Borough prone to flooding. Area did not experience flooding issues in 2020
 	Milled and paved 1.07 miles of streets and microsurfaced 1.29 miles of streets
 	Completed all 40 curb ramp upgrades required for the 2020 road paving program, with almost
half of the work completed in-house by Borough staff
 	Painted 4,000 linear feet of school crosswalks, as well as painted all private and public
handicapped parking spaces
 	Replaced decorative crosswalks at the square with a longer-lasting material
 	Updated traffic control system at Orange & High Streets from span wire to mast arms and
upgraded traffic control equipment to include infrared detection
Personnel
 	Analyzed medical plan design and compensation plan update
 	Implemented Human Resources and Employee Self Service modules of software
 	Elevated employee training and advancement opportunities
Stewardship: Financial, Physical, and Environmental
 	Received GFOA Award for Excellence in Financial Reporting for 2019 (11th year)
 	Received GFOA Distinguished Budget Presentation Award for the 2020 Budget (7 th year)
 	Received unmodified audit opinion for 2019 audit report

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Mayor & Council, Residents and Taxpayers
July 27, 2021
Page 6 of 6
VI
 	Police Department received reaccreditation through the Pennsylvania Law Enforcement
Accreditation Program
 	Created Climate Action Commission, which will create a Climate Action Plan for the Borough
 	Completed stormwater diversion project in Nottingham/Valley Meadows area
 	Replaced 50% of sewer laboratory lighting with more energy efficient LED ceiling fixtures
utilizing a PPL rebate program to keep costs at a minimum
 	Received DEP approval for the Borough’s MS4 renewal permit and the Chesapeake Bay
Pollutant Reduction Plan Update
Awards and Acknowledgments
GFOA awarded a Certificate of Achievement for Excellence in Financial Reporting to Carlisle for its 2019
Annual Report. GFOA reports that only 47 of the more than 2,500 municipalities in Pennsylvania
received this award in 2019. In order to be awarded the certificate a government must publish an
Annual Report that is easily readable and efficiently organized. The report must satisfy both generally
accepted accounting principles and applicable legal requirements. A Certificate of Achievement for
Excellence in Financial Reporting is valid for one year only. We believe our 2020 Annual Report
continues to meet GFOA’s requirements and we are submitting it to GFOA to determine its eligibility for
the certificate.
GFOA also awarded Carlisle its Distinguished Budget Presentation Award for 2020. The Borough is one
of few municipalities in Pennsylvania to receive both prestigious GFOA awards.
Timely preparation of this Annual Report was made possible by the dedicated service of Borough staff.
Each member has our sincere appreciation for contributions made in the preparation of this report.
Achieving the goal enunciated in Carlisle’s motto “Committed to Excellence in Community Service” is
only possible through a total team effort. In that regard, we extend our sincerest appreciation to the
Mayor and Council and all employees who strive on a daily basis to attain and advance service delivery
most efficiently and effectively on behalf of the residents and taxpayers of Carlisle.
Sincerely,
Richard JT Juday
Director of Finance

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ORGANIZATION CHART
VII
Carlisle Voters, Residents, Customers
Mayor & Council
Borough Manager
Authorities, Boards &
Commissions
Carlisle Municipal Authority
Carlisle Sewer Authority
Planning Commission
Solicitor
Council Support
CDBG
Economic Development
Parking System / Garage
Recycling
Public Relations
Cable T.V.
Emergency Management
Regional Planning
Budgeting
Technology
Human Resources
Insurance
Risk Management
Water Resources 	Public Works
Utilities Lines
Storm Sewers
Water Plant
Wastewater Plant
Laboratory
Pre-Treatment / Sludge
Administration
Engineering
General Support
Planning
Zoning
Code
Enforcement
Boro. Hall Maint.
Field Operations
Traffic
Parking Lots
Streets
Fleet Maintenance
Police	Fire
Patrol
Investigations
Communications
Records
Parking Violations
Youth Services
Crime Prevention
Crossing Guards
Planning
Training
Finance
Financial Management
Budgeting
Purchasing
Accounts Payable
Accounts Receivable
Payroll
Utility Billing
Water Meter System
Collections
Tax Collection
Parks & Recreation
Park Maintenance
Shade Trees
Recreation Services
Municipal Pool
Community Center
Civil Service Commission
Board of Appeals
Hist. Architectural Review
Zoning Hearing Board
Parks & Recreation Board
Pension Advisory Comm.
Carlisle Fire & Rescue Services
Union Fire Company
Climate Action
Human Relations
LeTort Regional Authority

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B OROUGH OF C ARLISLE
List of Principal Officials
December 31, 2020
VIII
MAYOR & COUNCIL
Mayor .................................................................................. Timothy A. Scott
Councilor & Deputy Mayor ............................................. Sean M. Shultz
Councilor ............................................................................ Sean J. Crampsie
Councilor ............................................................................ Deborah W. Fulham-Winston
Councilor ............................................................................ Brenda S. Landis
Councilor ............................................................................ Joel T. Hicks
Councilor ............................................................................ Jeff P. Stuby
ADMINISTRATIVE OFFICIALS
Borough Manager ............................................................. Susan D. Armstrong
Assistant Borough Manager ............................................ Owen A. Snyder
Borough Secretary ............................................................. Joyce E. Stone
Director of Finance ............................................................ Richard JT Juday
Director of Public Works.................................................. (Vacant)
Director of Parks & Recreation........................................ Andrea C. Crouse
Director of Water Resources ........................................... Mark A. Malarich
Police Chief ........................................................................ Taro D. Landis
Fire Chief ............................................................................ Jeffrey S. Snyder
Solicitor ............................................................................... Keith O. Brenneman

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FINANCIAL S ECTION

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1
INDEPENDENT AUDITOR’S REPORT
To the Mayor and Borough Council
Borough of Carlisle
Carlisle, Pennsylvania
REPORT ON THE FINANCIAL STATEMENTS
We have audited the accompanying financial statements of the governmental activities, the
business-type activities, the discretely presented component unit, each major fund, and the aggregate
remaining fund information of the Borough of Carlisle, as of and for the year ended December 31, 2020,
and the related notes to the financial statements, which collectively comprise the Borough’s basic
financial statements as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial
statements in accordance with accounting principles generally accepted in the United States of
America; this includes 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.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We
conducted our audit in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits in Government Auditing Standards, issued by
the Comptroller General of the Unites States. Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial statements are free from material
misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor’s judgment,
including the assessment of the risks of material misstatement of the financial statements, whether due
to fraud or error. In making those risk assessments, the auditor considers internal control relevant to
the entity’s preparation and fair presentation of the financial statements 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 entity’s internal control. Accordingly, we express no such opinion. An audit
also includes evaluating the appropriateness of accounting policies used and the reasonableness of
significant accounting estimates made by management, as well as evaluating the overall presentation of
the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinions.

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2
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects,
the respective financial position of the governmental activities, the business-type activities, the
discretely presented component unit, each major fund, and the aggregate remaining fund information
of the Borough of Carlisle, as of December 31, 2020, 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.
OTHER MATTERS
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the
management’s discussion and analysis on pages 4 through 16, the schedules related to the pension and
OPEB liabilities on pages 69 through 72, and budgetary comparison schedule on pages 73 - 74 be
presented to supplement the basic financial statements. Such information, 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 auditing standards generally accepted
in the United States of America, 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.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the Borough of Carlisle's basic financial statements. The introductory section,
other supplementary information in the financial section, and statistical section are presented for
purposes of additional analysis and are not a required part of the basic financial statements. The
schedule of expenditures of federal awards is presented for purposes of additional analysis as required
by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards, and is also not a required part of the basic
financial statements.
The other supplementary information in the financial section and the schedule of expenditures
of federal awards are the responsibility of management and were derived from and relate directly to
the underlying accounting and other records used to prepare the basic financial statements. Such
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 other
supplementary information and the schedule of expenditures of federal awards in the financial section
are fairly stated in all material respects, in relation to the basic financial statements as a whole.
The introductory and statistical sections have not been subjected to the auditing procedures
applied in the audit of the basic financial statements and, accordingly, we do not express an opinion or
provide any assurance on them.

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3
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated
July 27, 2021, on our consideration of the Borough of Carlisle, Pennsylvania’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 Borough of Carlisle, Pennsylvania’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 Borough of Carlisle,
Pennsylvania’s internal control over financial reporting and compliance.
Carlisle, Pennsylvania
July 27, 2021

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B OROUGH OF C ARLISLE
Management's Discussion and Analysis (Unaudited)
4
This discussion and analysis section provides readers of these financial statements an overview and
analysis of the financial performance of the Borough of Carlisle, Pennsylvania for the fiscal year ended
December 31, 2020. Readers are encouraged to consider the information presented here in conjunction
with the additional information furnished in the letter of transmittal, which can be found on pages I - VI
of this report.
Management Discussion and Analysis is an element of the reporting model adopted by the Government
Accounting Standards Board (GASB) in its Statement No. 34, Basic Financial Statements – and
Management’s Discussion and Analysis – for State and Local Governments, issued June 1999. Certain
comparative information between the current year and the prior year is required to be presented in
this section.
Financial Highlights of 2020
 	Government-wide assets and deferred outflows of resources exceeded liabilities and deferred
inflows of resources by $ 70,776,234 compared to $ 66,468,874 for the prior year. Total net
position increased by $ 4,307,360 (6.5%) which can be primarily attributed to several projects that
were planned but not undertaken during the year resulting in expenditures being lower than
anticipated.
 	Total government-wide cash, cash equivalents, and investments decreased by $ 152,063 (0.4%)
compared to the prior year.
 	The net position of the non-uniformed employees pension plan as a percentage of total pension
liability was 111.37%; the net position of the police officers pension plan as a percentage of total
pension liability was 113.18%.
 	Governmental fund balances increased from the prior year and remained strong at $ 12,331,357
(97.1% of expenditures) compared to $ 12,111,992 (100.1% of expenditures) for the prior year.
 	The unassigned fund balance for the general fund increased to $ 7,783,269 (80.3% of fund
expenditures) compared to $ 7,405,190 (76.6% of fund expenditures) from the prior year. This
change is attributed to planned general fund expenditures that did not occur.
 	Assigned and committed governmental fund balances set aside by Borough Council for future
capital, employee benefits, and other post-employment retirement benefits expenses were
$ 1,632,670 (13.2% of total governmental fund balances) compared to $ 1,583,111 (16.9% of total
governmental fund balances) in the prior year.
 	Debt service on general obligation debt attributed to non-enterprise capital funding was $ 908,235
(7.2% of total general fund and capital projects fund spending) compared to $ 722,393 (6.4% of
total general fund and capital projects fund spending) in the prior year.
 	The net position of the water, stormwater, sewer, parking, and other enterprise funds increased by
$ 2,494,247 (5.5%) from the prior year.
Overview of the Financial Statements
This discussion and analysis is intended to serve as an introduction to the Borough of Carlisle’s basic
financial statements. The statements are comprised of three components: 1) government-wide financial
statements, 2) fund financial statements, and 3) notes to the financial statements. This report also
contains other supplementary information in addition to the basic financial statements themselves.

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Management's Discussion and Analysis (Unaudited)
5
Government‐wide financial statements. The government-wide financial statements are designed to
provide readers with a broad overview of the Borough’s finances in a manner similar to a private-
sector business. The government-wide financial statements not only include the Borough itself (known
as the primary government), but also its discretely presented component unit, Carlisle Borough
Municipal Authority, which is legally separate from the Borough. 	Financial information for this
component unit is reported separately from the financial statements presented for the primary
government itself. 	Refer to Note 1 for information on how to obtain the separately issued financial
statements for the component unit.
The statement of net position presents information on all Borough assets, deferred outflows of
resources, liabilities, and deferred inflows of resources with the difference between assets, deferred
outflows of resources, and liabilities reported as net position. Over time, increases or decreases in net
position may serve as a useful indicator of whether the financial position of the Borough is improving
or deteriorating.
The statement of activities presents information showing how the government’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 in this statement 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 of the government-wide financial statements distinguish functions of Carlisle Borough that are
principally supported by taxes and intergovernmental revenues (governmental activities) from other
functions that are intended to recover all or a significant portion of their costs through user fees and
charges (business-type activities). The governmental activities of the Borough include general
government, public safety, public services, parks and recreation, and conservation and community
development. The business-type activities of the Borough include water, sewer, parking, stormwater,
and solid waste and recycling operations.
The government-wide financial statements can be found on pages 17 and 18 of this report.
Fund financial statements. A fund is a group of related accounts that is used to maintain control over
resources that have been segregated for specific activities or objectives. Carlisle Borough, like other
state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-
related legal requirements. All of the funds of the Borough can be divided into three categories:
governmental funds, proprietary funds, and fiduciary funds.
Governmental funds. Governmental funds are used to account for essentially the same functions
reported as governmental activities in the governmental-wide financial statements. However, unlike
the government-wide financial statements, governmental fund financial statements focus on near-term
inflows and outflows of expendable resources, as well as on balances of expendable 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.

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Management's Discussion and Analysis (Unaudited)
6
Carlisle Borough maintains five 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 balances for the general fund and the capital projects fund. Data
from the other three (3) governmental funds are combined into a single, aggregated presentation.
Individual fund data for each of these non-major governmental funds is provided in the form of
combining statements elsewhere in this report.
The Borough adopts an annual budget for its governmental funds. Budgetary comparison statements
have been provided as “required supplementary information” for these funds to demonstrate
compliance with their budgets.
The basic governmental fund financial statements can be found on pages 19 - 22 of this report.
Proprietary funds. Carlisle Borough uses enterprise funds to report the same functions presented as
business-type activities in the government-wide financial statements. The Borough’s major enterprise
funds include the water, stormwater, sewer, and parking funds. The solid waste is considered a non-
major fund.
Proprietary funds provide the same type of information as the government-wide financial statements,
only in more detail. The proprietary fund financial statements provide separate information for the
water, stormwater, sewer, and parking funds, all of which are considered to be major funds of the
Borough.
The basic proprietary fund financial statements can be found starting on page 23 of this report, and
include statements of net position; revenue, expenses, and changes in net position; and cash flows.
Fiduciary funds. Fiduciary fund reporting focuses on net position and changes in net position. The
fiduciary fund category is divided into four classifications: pension trust funds, investment trust funds,
private purpose trust funds, and agency funds. Trust funds are used to account for assets held by the
Borough under a trust agreement for individuals, private organizations, or other governments and are,
therefore, not available to support the Borough’s own programs. Custodial funds report fiduciary
activities not required to be reported in other fiduciary fund types. The Borough has no investment
trust funds.
The Borough maintains pension trust funds for the police and non-uniformed personnel, a private
purpose trust fund for a cemetery, and a custodial fund for tax collection. Fiduciary fund statements can
be found on pages 27 and 28 of this report.
Notes to the financial statements. The notes provide additional information that is essential to a full
understanding of the data provided in the government-wide and fund financial statements. The notes to
the financial statements can be found on pages 29 - 68 of this report.
Supplementary Information. Additional required supplementary schedules follow the notes to the
financial statements on pages 69 - 74 of this report. The combining statements referred to earlier in
connection with non-major governmental funds and fiduciary funds are presented following the
required supplementary information. Combining and individual fund statements and schedules can be
found on pages 75 - 88 of this report.

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B OROUGH OF C ARLISLE
Management's Discussion and Analysis (Unaudited)
7
Government‐wide Financial Analysis
As noted earlier, net position may serve as a useful indicator of a government’s financial position.
Assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources by
$ 70,776,234 at the close of the fiscal year.
The largest portion (52.8%) of the Borough’s total net position reflects its investment in capital (non-
current) assets (e.g., land, buildings, machinery and equipment). The Borough uses these capital assets
to provide services to its residents and taxpayers; consequently, this portion of net position is not
available for future spending. Although the Borough’s investment in its capital assets are 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.
The following table presents a summary of the Borough’s net position by type of activity as of
December 31, 2020 and 2019.
Governmental 	Business‐type 	Governmental Business‐type
Activities 	Activities 	Total 	Activities 	Activities 	Total
Current and other assets 	17,408,367	$ 	29,391,050	$ 	46,799,417	$ 	14,452,189	$ 	28,414,970	$ 	42,867,159	$
Capital assets, net 	22,509,745 	43,593,375 	66,103,120 	22,106,365 	43,760,251 	65,866,616
Total assets 	39,918,112	$ 	72,984,425	$ 	112,902,537	$ 	36,558,554	$ 	72,175,221	$ 	108,733,775	$
Deferred outflows of resources 	343,080	$ 	67,973	$ 	411,053	$ 	420,831	$ 	82,777	$ 	503,608	$
Total deferred outflows of resources 	343,080	$ 	67,973	$ 	411,053	$ 	420,831	$ 	82,777	$ 	503,608	$
Long-term liabilities 	9,524,827	$ 	23,744,663	$ 	33,269,490	$ 	9,757,028	$ 	25,572,723	$ 	35,329,751	$
Other liabilities 	2,129,418 	3,244,568 	5,373,986 	1,707,247 	3,498,293 	5,205,540
Total liabilities 	11,654,245	$ 	26,989,231	$ 	38,643,476	$ 	11,464,275	$ 	29,071,016	$ 	40,535,291	$
Deferred inflows of resources 	3,088,661	$ 	805,219	$ 	3,893,880	$ 	1,809,937	$ 	423,281	$ 	2,233,218	$
Total deferred inflows of resources 	3,088,661	$ 	805,219	$ 	3,893,880	$ 	1,809,937	$ 	423,281	$ 	2,233,218	$
Net position
Net investment in capital assets 	14,799,272	$ 	22,589,169	$ 	37,388,441	$ 	14,451,032	$ 	23,163,967	$ 	37,614,999	$
Restricted 	2,600,104 	- 	2,600,104 	2,807,160 	- 	2,807,160
Unrestricted 	8,118,910 	22,668,779 	30,787,689 	6,446,981 	19,599,734 	26,046,715
Total net position 	25,518,286	$ 	45,257,948	$ 	70,776,234	$ 	23,705,173	$ 	42,763,701	$ 	66,468,874	$
December 31, 2019
BOROUGH OF CARLISLE
December 31, 2020
The restricted portion of the Borough’s total net position (3.7%) represents resources that are subject
to external restrictions on how they may be used. The unrestricted net position, used to meet the
government’s ongoing obligations to its residents, taxpayers, and creditors, makes up the remaining
balance (43.5%).
At the end of the fiscal year, the Borough is able to report positive balances in net position for both
governmental and business-type activities. The same was true for the prior fiscal year.
The Borough’s net position increased by $ 4,307,360 (6.5%) year-over-year which is due to several
factors including an increase in Net Pension Assets in the Governmental Activities and due to the
receipt of revenues in our Business-type Activities that were designated for Capital Projects that have
not yet occurred due to project timing and delays due to COVID-19 resulting in surplus revenues.
Capital assets. The Borough’s investment in capital assets for its governmental and business-type
activities as of December 31, 2020 net of accumulated depreciation was $ 66,103,120. This investment
includes capital assets such as buildings, machinery and equipment, roads, water and sewer lines,
highways, and bridges and reflects an increase of $ 236,504 from the prior year, due in large part to
infrastructure work completed in the Capital Projects Fund.

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Management's Discussion and Analysis (Unaudited)
8
The table below summarizes the capital assets of the Borough at December 31, 2020.
Governmental
Activities
Business‐Type
Activities 	Total
Land 	1,292,633	$ 	504,102	$ 	1,796,735	$
Land improvements 	8,840,188 	4,353,122 	13,193,310
Buildings 	10,066,919 	43,534,929 	53,601,848
Machinery and Equipment 	10,669,083 	36,326,545 	46,995,628
Infrastructure 	44,940,346 	26,306,310 	71,246,656
Construction in progress 	5,510,522 	1,335,161 	6,845,683
Total 	81,319,691 	112,360,169 	193,679,860
Less accumulated depreciation 	(58,809,946) 	(68,766,794) 	(127,576,740)
Total capital assets 	22,509,745	$ 	43,593,375	$ 	66,103,120	$
BOROUGH OF CARLISLE ‐ CAPITAL ASSETS
(net of depreciation)
Additional information on the Borough’s capital assets can be found in Note 5 of this report on page 50.
Long‐term debt. At the end of the fiscal year, the Borough had total debt outstanding of $ 36,177,959.
This debt is backed by the full faith and credit of the Borough. Nearly three-quarters (70.9%) of the
Borough’s outstanding debt is considered self-supporting and will be repaid from water, sewer,
stormwater, and parking enterprise fund revenue.
Governmental
Activities
Business‐Type
Activities 	Total
General Obligation Bonds and Notes 	8,043,312	$ 	25,363,433	$ 	33,406,745	$
Net OPEB Liability 	1,559,514 	- 	1,559,514
Compensated Absences 	865,757 	345,943 	1,211,700
Total Debt 	10,468,583	$ 	25,709,376	$ 	36,177,959	$
BOROUGH OF CARLISLE ‐ LONG‐TERM LIABILITIES
The Borough instituted several infrastructure replacement programs for the water, sewer, and
stormwater management systems. These replacement programs are capital intensive and have resulted
in the overall increase in outstanding debt balances over recent years. In 2020, the only debt issued
was a drawdown on the 2018 GO Note and saw, due to principal payments made, an overall decrease in
the amount of outstanding general obligation bonds and notes of $ 2,315,584 (6.5%) compared to the
prior year.
Additional information on the Borough’s long-term debt can be found in Note 6 beginning on page 51 of
this report.
Governmental Activities. The Borough’s net position for governmental activities saw an increase from
the prior year of $ 1,813,113 (7.7%) from $ 23,705,173 to $ 25,518,286. The primary reasons for the
increase shown here relates to the following:

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Management's Discussion and Analysis (Unaudited)
9
 	increase in Net Pension Asset of $ 881,785 due to strengthening markets
 	increase in net capital outlays of $ 403,380
 	increase in taxes receivable due to improved earned income tax collection after year-end of
$ 139,203
 	a reduction in non-current liabilities (Bond and notes payable, compensated absences) resulted
in an increase of $ 358,627 which was a result of debt service repayment and the retirement of
several employees and the reduction of compensated absences related to them
Business‐type activities. The Borough’s net position for business-type activities increased from the
prior year by $ 2,494,247 (5.8%) from $ 42,763,701 to $ 45,257,948. The primary factors that resulted
in this increase is the timing of capital projects that were planned but not completed during the year. As
a result, the revenues collected increased net position and will be used as the projects are completed in
future years. Additionally, the Stormwater and Sewer funds both had built in increases to net position
totaling $ 737,773.
These changes are presented in the following table together with comparable information from the
prior year.
Governmental Business‐type 	Governmental Business‐type
Activities 	Activities 	Total 	Activities 	Activities 	Total
Revenues
Program revenues:
Charges for services 	745,610	$ 	13,994,710	$ 	14,740,320	$ 	1,159,513	$ 	13,479,145	$ 	14,638,658	$
Operating grants 	1,985,355 	55,074 	2,040,429 	1,240,250 	209,028 	1,449,278
Capital grants and contributions 	1,348,420 	323,801 	1,672,221 	1,455,601 	2,419,064 	3,874,665
General revenues:
Property taxes 	5,143,699 	- 	5,143,699 	5,122,842 	- 	5,122,842
Other taxes 	3,469,982 	- 	3,469,982 	3,357,207 	- 	3,357,207
Other 	175,421 	193,529 	368,950 	492,194 	513,370 	1,005,564
Total revenues 	12,868,487 	14,567,114 	27,435,601 	12,827,607 	16,620,607 	29,448,214
Expenses
General Government 	1,996,953 	- 	1,996,953 	1,865,486 	- 	1,865,486
Public Safety 	5,660,761 	- 	5,660,761 	5,928,270 	- 	5,928,270
Public Services 	1,709,843 	- 	1,709,843 	2,031,313 	- 	2,031,313
Culture and Recreation 	893,308 	- 	893,308 	1,131,263 	- 	1,131,263
Community Development 	471,282 	- 	471,282 	306,343 	- 	306,343
Interest & amortization expense 	250,103 	- 	250,103 	243,695 	- 	243,695
Water 	- 	3,447,981 	3,447,981 	- 	3,850,851 	3,850,851
Sewer 	- 	5,448,124 	5,448,124 	- 	5,741,796 	5,741,796
Parking 	- 	538,817 	538,817 	- 	524,341 	524,341
Solid Waste 	- 	1,656,256 	1,656,256 	- 	826,622 	826,622
Stormwater 	- 	1,054,813 	1,054,813 	- 	581,219 	581,219
Total expenses 	10,982,250 	12,145,991 	23,128,241 	11,506,370 	11,524,829 	23,031,199
Excess of revenues over epense
before transfers 	1,886,237 	2,421,123 	4,307,360 	1,321,237 	5,095,778 	6,417,015
Transfers in (transfers out) 	(73,124) 	73,124 	- 	(43,505) 	43,505 	-
Changes in net position 	1,813,113 	2,494,247 	4,307,360 	1,277,732 	5,139,283 	6,417,015
Net position - Beginning, as restated 	23,705,173 	42,763,701 	66,468,874 	22,427,441 	37,624,418 	60,051,859
Net position - End of Year 	25,518,286	$ 	45,257,948	$ 	70,776,234	$ 	23,705,173	$ 	42,763,701	$ 	66,468,874	$
December 31, 2019	December 31, 2020
BOROUGH OF CARLISLE ‐ CHANGES IN NET POSITION
Fund Financial Statements
Governmental funds. The focus of the Borough’s governmental funds is to provide information on
near-term inflows, outflows, and balances of expendable resources. Such information is useful in
assessing the Borough’s financing requirements. In particular, undesignated fund balance may serve as
a useful measure of a government’s net resources available for spending at the end of the fiscal year.

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Management's Discussion and Analysis (Unaudited)
10
Fund balances. At the end of the fiscal year, the Borough’s governmental funds reported combined
ending fund balances of $ 12,331,357, an increase of $ 219,365 (1.8%) compared with the prior year.
The total fund balance is allocated as follows: $ 422,998 (3.4%) constitutes non-spendable fund
balance; $ 2,492,420 (20.2%) restricted fund balance (approximately $ 1.3 million is state highway aid
money which may only be used for street maintenance); $ 1,632,670 (13.2%) are committed and
assigned fund balance set aside by Borough Council primarily for future Other Post-Employment
Benefits (OPEB) and $ 7,783,269 (63.1%) in unassigned fund balance available for spending at the
government’s discretion.
Total governmental fund balances of $ 12,331,357 constitute a strong fund balance, 97.1% of
governmental funds expenditures.
General fund. The general fund is the largest governmental fund and is the Borough’s chief operating
fund. Actual general fund spending in 2020 remained relatively consistent at $ 9,696,222 compared to
$ 9,639,564 in the prior year, an increase of $ 56,658 (0.6%). Budget managers were able to hold the
line on spending in 2020 by reducing the amount of operating supplies they used, reductions in
overtime, and delays in hiring of positions as they became available. These efforts were in place to
combat the downturned economy, a result of the COVID-19 pandemic. In previous years the Borough
had seen larger spending variations between years, however with the establishment of the capital
projects fund the spending in the General fund now only relates to operating costs, which will see
smaller fluctuations compared to when the fund included capital spending.
Budgeted revenue was approximately $ 10.9 million while actual revenue was approximately
$ 10.7 million, a difference of approximately $ 200 thousand, excluding fund balance. The primary
difference between Budget and Actual revenues is due to the COVID-19 Pandemic. Licenses and Permits
revenue and Charges for Services were under budget by $ 451,644 due to the cancellation of Parks and
Recreation Programing to ensure compliance with the Pennsylvania Governors Stay-At-Home orders
and social distancing requirements. Additionally, the Orders issued by the Pennsylvania Governor
prohibited construction of any kind and as a result we saw a significant reduction in building related
permits. These under budget areas were offset by growth in the Taxes line item (due to a large real
estate transfer tax received pre-pandemic early in the year). Additionally, the under-budget revenues
were offset by receipt of CARES act grant funding intended to reimburse the Borough for COVID-19
related expenses.
Similarly, budgeted expenditures were approximately $ 12.7 million while actual expenditures were
approximately $ 9.7 million, a difference of nearly $ 3.0 million. Approximately $ 1.8 million relates to
reimbursements from other funds for shared administrative expenditures that were solely budgeted
out of the general fund. Additional savings were generated through actions taken to remain compliant
with the Pennsylvania Governors Stay-At-Home orders and social distancing requirements (which
included the cancellation of Recreation Programming). In an effort to cut down on costs the Borough
also delayed hiring open positions until July 2021 that were originally budgeted to be filled in 2020.
Finally, the remaining savings achieved can be attributed to an organization wide response to reduce
the amount of operating supplies and overtime costs intended to offset anticipated pandemic related
revenue losses.
Principal and interest on the Borough’s general obligation debt attributed to non-enterprise capital
funding was $ 908,235 with $ 668,704 (6.9% of total general fund spending) being attributed to the
general fund and $ 239,531 (12.3% of total capital projects fund spending) being attributed to the
Capital Projects Fund.

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B OROUGH OF C ARLISLE
Management's Discussion and Analysis (Unaudited)
11
Unlike enterprise fund activities general fund activities are supported by general tax revenues. In 2020
those tax revenues amounted to $ 8,459,799 (79.2% of all general fund revenue). The following graph
and chart help present a pictorial illustration of the Borough’s governmental activities and the related
revenue structure for fiscal year 2020.
Local taxes. Revenue from property taxes was $ 5,135,094 which was under budget by $ 37,087
(0.7%). That amount was slightly more than the prior year property tax collections of $ 5,095,199. Real
estate transfer tax revenue at $ 457,392 was over the budget amount by $ 79,803 due to early in the
year property transfers. Earned income tax revenue was $ 106,826 over budget (5.3%) and $ 60,752
(2.8%) less than the amount collected in the prior year. Even though the local economy saw record
unemployment due to COVID-19 the collection of local taxes was relatively uninterrupted.
The following table compares tax revenues in 2020 with those in 2019 and with the budgeted amounts
for 2020.
Actual 	Budget
Actual 	Budget 	Actual 	Variance 	Variance
Tax 	2019 	2020 	2020 	2020‐2019 	2020
Property 	5,095,199	$ 	5,172,181	$ 	5,135,094	$ 	39,895	$ 	(37,087)	$
Real Estate Transfer 	377,589 	360,000 	457,392 	79,803 	97,392
Earned Income 	2,167,578 	2,000,000 	2,106,826 	(60,752) 	106,826
LST 	793,393 	725,000 	703,225 	(90,168) 	(21,775)
Admissions / Amusements 	63,295 	73,700 	57,262 	(6,033) 	(16,438)
Total 	8,497,054	$ 	8,330,881	$ 	8,459,799	$ 	(37,255)	$ 	128,918	$
Proprietary funds. The Borough’s proprietary funds provide the same type of information found in the
government-wide financial statements, but in more detail.
Net position of the water, stormwater, sewer, parking, and solid waste functions at the end of the year
was $ 45,257,948. For the year, the net position of proprietary funds increased by $ 2,494,247 (5.8%).
All major proprietary funds, with exception to the Parking Fund, showed an increase in net position for
2020 that can be attributed to planned capital projects that did not occur during the year. The water
fund showed an increase in net position of $ 936,454 (7.6%) for 2020; the sewer fund showed an
increase in net position of $ 1,069,961 (4.0%); the stormwater fund showed an increase in net position
of $ 787,366 (111%), the parking fund showed a decrease in net position of $ 123,508 (4.8%), and the
solid waste fund showed a decrease in net position of $ 176,026 (32.2%).

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Management's Discussion and Analysis (Unaudited)
12
The decrease in the parking fund is due to a moratorium placed on issuing parking tickets and accepting
meter and parking lot revenues. This was an intentional action to ease the burden on residents,
customers, and businesses in Carlisle who may have been impacted by the COVID-19 pandemic. This is
further discussed in section “Impact of COVID-19 on the Borough” of this Management Discussion and
Analysis.
The decrease in the Solid Waste fund is due to rising costs in the treatment and management of solid
waste and recycling. In an effort to offer temporary relief to customers, the Borough utilized available
fund balance reserves to smooth the price change over several years. The flexibility offered with the
available fund balance reserves resulted in costs exceeding incoming revenues, and for 2020 resulted in
a net decrease in net position.

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Management's Discussion and Analysis (Unaudited)
13
(200,000)
(150,000)
(100,000)
(50,000)
-
50,000
100,000
150,000
200,000
2016 	2017 	2018 	2019 	2020
Change in Net Position ‐ Solid Waste
Total operating revenues for the proprietary funds was $ 13,781,718 and exceeded total operating
expenses of $ 11,456,633 by $ 2,325,085. The following graph shows the relative levels of total
revenues and expenses in the five significant enterprise funds for 2020.
The following chart clearly demonstrates the definition of enterprise funds as being mainly reliant on
user fees or charges as they constitute 95.6% of total operating and non-operating revenues.

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B OROUGH OF C ARLISLE
Management's Discussion and Analysis (Unaudited)
14
Impact of COVID‐19 on the Borough
The outbreak of COVID-19, a respiratory disease caused by a new strain of coronavirus, has been
characterized as a pandemic (the “Pandemic”) by the World Health Organization and is currently
affecting many parts of the world, including the United States and the Commonwealth of Pennsylvania.
On January 31, 2020, the Secretary of the United States Health and Human Services Department
declared a public health emergency for the United States and on March 13, 2020, the President of the
United States declared the outbreak of COVID-19 in the United States a national emergency.
Subsequently, the President’s Coronavirus Guidelines for America and the United States Centers for
Disease Control (CDC) and Prevention called upon Americans to take actions to slow the spread of
COVID-19 in the United States.
On March 16, 2020, the Borough of Carlisle issued an emergency disaster declaration relating to the
Pandemic. Pennsylvania Governor Tom Wolf ordered all non-life-sustaining businesses in Pennsylvania
to close their physical locations as of 8:00 p.m. March 19, 2020 to slow the spread of COVID-19. On
March 23, 2020, the Pennsylvania Department of Education required all schools in the Commonwealth
to close as a result of the COVID-19 response efforts. On April 1, 2020, the Governor issued a Stay at
Home order effective for all Pennsylvania Counties.
On May 14, 2020, Borough Council issued a resolution providing real property tax relief for the
payment of Municipal Real Estate Taxes due to the Pandemic. The resolution moved the deadline for
making payment at face from July 1, 2020 to October 31, 2020. Commencing November 1, 2020, the
penalty rate of ten per centum (10%) was reinstated. As indicated above, property taxes were not
significantly impacted by offering this property tax relief with actual balances being $ 37,087 less than
budget and $ 39,895 higher in comparison to balances at December 31, 2019.
In addition to the resolution issued above the Borough took several actions throughout 2020 to ensure
the continuity of essential services to businesses and residents and to operate in accordance with CDC
guidelines and Governor Orders. The actions taken included the following:
 	cancellation of 2020 Parks and Recreation programs
 	closure of the pool throughout 2020
 	suspension of parking meter fees and tickets
 	moratorium was placed on utility terminations and late fees
The actions listed above resulted in a notable decline in 2020 revenue and increases in past due
balances across all funds. However, due to the uncertainty as to the impact and duration of the
pandemic, budget managers took action to reduce spending while attempting to maintain the same
level of service to the community. Examples of actions taken include:
 	delay filling open positions (7 positions)
 	reduced hiring of part-time and seasonal workers
 	reduced purchasing of operating supplies
 	reductions related to the Parks & Recreation programs that were cancelled
 	maintaining detailed financial records related to COVID-19 response costs to ensure maximum
reimbursement from available grant sources
While it was initially budgeted that the General Fund would use $581,020 from fund balance reserves
in 2020 to balance the Capital Projects Budget in actuality the actions taken to lower costs during 2020
resulted in a general fund surplus of $499,545.

-- 28 of 137 --

B OROUGH OF C ARLISLE
Management's Discussion and Analysis (Unaudited)
15
In addition to other grant funding received by the Borough, the Borough was a recipient of United
States Department of the Treasury Coronavirus Relief Fund in the amount of $258,693 which was used
during 2020 to address a significant portion of the direct costs associated with the Pandemic, including
costs to mitigate the spread of virus and to improve Borough information technology infrastructure to
allow for improved remote working and public meeting capabilities. In 2021, the Borough began to
receive aid under the American Rescue Plan Act of 2021 to respond to the COVID-19 pandemic and
address its economic effects. As of June 2021, the Borough received approximately $4,593,336 which
represents 50% of the total anticipated award. The Borough continues to monitor for additional grant
funding opportunities it may be eligible for, but it is unclear whether additional funding will be
received and in what amount.
The 2021 budget once again included a planned use of general fund reserves ($630,113) to fund the
Capital Projects Fund. The General Fund, over the years, accumulated a strong reserve balance that
exceeds the goals of the Borough Council. Due to the reserve balances available, the Borough has
flexibility in budgeting during an economic downturn (such as the one caused by the COVID-19
pandemic) and can limit the overall burden on Borough taxpayers. Budget managers continue to
monitor their expenditures to ensure that savings are achieved when available in a fashion similar to
the savings achieved during 2020, which resulted in a budget deficit reverting to an anticipated surplus.
As of June 30, 2021, the General Fund activity is meeting budget expectations but it is too early to
determine whether the year will end meeting expectations due to the uncertainty of the impact related
to the COVID-19 pandemic.
The Borough continues to monitor the spread of COVID-19 and is working with federal, state, and local
agencies to address the continued impact of the Pandemic on the Borough and its residents and
businesses. While the continued and future impact of the Pandemic cannot be quantified at this time,
the continued outbreak of COVID-19 could have an adverse effect on the Borough’s operations and
financial condition, and the effect could be material.
Additional information with respect to events surrounding the outbreak of COVID-19 and responses
thereto can be found on Commonwealth websites, including but not limited to the Governor’s office
(http://www.pa.gov/), the Pennsylvania Department of Health (http://www.health.pa.gov/). The
Borough has not incorporated by reference the information on such websites and the Borough does not
assume any responsibility for the accuracy of the information on such websites.
Fund Outlook and Rate Changes
General Fund. Cash reserves have remained relatively stable over the past year. The Borough proceeds
conservatively when preparing budgets and making long-term projections. Elected officials and
management take into consideration local, state, and national economic and governmental conditions.
Long-term revenue growth is expected to remain sluggish. The Borough does not expect revenue
sources to increase in the near term especially due to the impact of the COVID-19 Pandemic on the
economy. The Borough will likely see expenditures steadily increase. Over the next several years, the
Borough will work diligently to ameliorate the effects of this trend.
Water Fund. The water fund remains financially stable but under stress due to the primary concern for
the aging infrastructure of the distribution system. Water rates were adjusted 4% in 2018, 3.54% in
2020, and 3.42% increase is budgeted for 2021. Going forward the Borough can anticipate occasional
rate increases to meet the demand of necessary capital improvements. In the meantime, cash reserves
for the fund remain above 50% of annual operating expenses.

-- 29 of 137 --

B OROUGH OF C ARLISLE
Management's Discussion and Analysis (Unaudited)
16
Stormwater Fund. The stormwater fund was established in 2019 and is utilized to account for the
financing of stormwater management and related services as they relate to the Borough, its residents,
business establishments and various customers within the proximity of the Borough. The 2021 budget
reflected no planned increase to the existing stormwater management service charge. The Borough will
continue to evaluate the needs of the new fund as well as the required capital outlay needed for proper
stormwater management to determine if any future rate increases are needed.
Sewer Fund. Cash reserves are currently above 50% of annual operating expense; however, without
substantial annual rate increases, sewer fund revenue may not be able to keep up with anticipated
operating and capital costs. 	Based on a 2014 study a ten-year capital improvement plan was
developed. Current estimates suggest it may cost between $ 30 - $ 50 million dollars to complete
necessary system improvements. The Borough increased sewer rates three percent in 2018, three
percent in 2019, 3.35% in 2020 to prepare this fund for future capital expenses. No increase was
proposed in the 2021 budget. Based on the completed rate study in 2018, the Borough can anticipate
occasional rate increases to meet the demand of necessary capital improvements.
Parking Fund. The parking fund continues to operate as a self-sustaining enterprise fund. In 2014
parking violations were increased from $ 5 to $ 15. Monthly garage lease fees were increased and there
have been inflationary increases to most of the Borough’s leased parking. The Borough has continued
implementing elements of the 2014 parking plan including stepped-up parking garage maintenance
and parking lot upgrades. In 2020, the Borough installed Smart Parking Meters in the downtown, which
offer customers the ability to pay electronically. Cash reserves continue to be in excess of 50% of
annual operating expenses. The moratoriums in place for ticketing and collections of revenues will be
phased out in 2021.
Requests for Information
This report is designed to provide a general overview of the finances of the Borough of Carlisle,
Pennsylvania for residents, taxpayers, and others with an interest in the Borough’s financial operations.
Questions concerning any of the information provided in this report or requests for additional
information should be directed to Richard JT Juday, Director of Finance, Borough of Carlisle, 53 West
South Street, Carlisle, Pennsylvania 17013.

-- 30 of 137 --

BASIC FINANCIAL S TATEMENTS

-- 31 of 137 --

B OROUGH OF C ARLISLE
Statement of Net Position
December 31, 2020
The Notes to Financial Statements are an integral part of this statement. 	17
Discretely
Presented
Component Unit
Governmental
Activities
Business‐Type
Activities 	Total
Carlisle Borough
Municipal Authority
ASSETS
Current assets
Cash and cash equivalents 	15,815,677	$ 	19,124,892	$ 	34,940,569	$ 	249,596	$
Investments 	433,238 	498,455 	931,693 	-
Receivables
Taxes receivable, net 	1,728,378 	- 	1,728,378 	-
Accounts receivable - billed 	- 	1,301,398 	1,301,398 	-
Accounts receivable - unbilled 	- 	1,805,961 	1,805,961 	-
Other 	792,522 	513,989 	1,306,511 	27,523
Internal balances 	(4,867,723) 	4,867,723 	- 	-
Prepaid expenses 	138,156 	79,124 	217,280 	-
Inventories 	84,842 	412,872 	497,714 	-
Total current assets 	14,125,090 	28,604,414 	42,729,504 	277,119
Noncurrent assets
Loan receivable 	200,000 	- 	200,000 	-
Net pension asset 	3,083,277 	786,636 	3,869,913 	-
Capital assets not being depreciated
Land 	1,292,633 	504,102 	1,796,735 	-
Construction in progress 	5,510,522 	1,335,161 	6,845,683 	-
Capital assets net of accumulated depreciation
Buildings and system 	3,360,079 	23,075,254 	26,435,333 	-
Improvements other than buildings 	5,774,194 	2,227,354 	8,001,548 	-
Machinery and equipment 	2,857,946 	16,451,504 	19,309,450 	-
Infrastructure 	3,714,371 	- 	3,714,371 	-
Total noncurrent assets 	25,793,022 	44,380,011 	70,173,033 	-
Total assets 	39,918,112 	72,984,425 	112,902,537 	277,119	$
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows related to net pension asset 	230,375 	42,898 	273,273 	-
Deferred outflows related to total OPEB liability 	78,490 	- 	78,490 	-
Deferred charge on bond refunding 	34,215 	25,075 	59,290 	-
Total deferred outflows of resources 	343,080 	67,973 	411,053 	-
Total assets and deferred outflows of resources 	40,261,192	$ 	73,052,398	$ 	113,313,590	$ 	277,119	$
LIABILITIES
Current liabilities
Accounts payable 	511,946	$ 	834,084	$ 	1,346,030	$ 	264,371	$
Deposits 	373,645 	176,175 	549,820 	-
Accrued wages and withholdings 	251,426 	102,653 	354,079 	-
Accrued interest expense 	48,645 	166,943 	215,588 	-
Short-term liabilities: Due within one year
Bonds and notes payable 	731,080 	1,805,579 	2,536,659 	-
Compensated absences 	212,676 	159,134 	371,810 	-
Total current liabilities 	2,129,418 	3,244,568 	5,373,986 	264,371
Noncurrent liabilities
Long-term liabilities: Due in more than one year
Bonds and notes payable 	7,312,232 	23,557,854 	30,870,086 	-
Compensated absences 	653,081 	186,809 	839,890 	-
Total OPEB liability 	1,559,514 	- 	1,559,514 	-
Total noncurrent liabilities 	9,524,827 	23,744,663 	33,269,490 	-
Total liabilities 	11,654,245 	26,989,231 	38,643,476 	264,371
DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to net pension asset 	3,088,661 	805,219 	3,893,880 	-
Total deferred inflows of resources 	3,088,661 	805,219 	3,893,880 	-
NET POSITION
Net investment in capital assets 	14,799,272 	22,589,169 	37,388,441 	-
Restricted
Highway improvements 	1,286,004 	- 	1,286,004 	-
Police activities 	28,147 	- 	28,147 	-
Capital projects 	1,232,218 	- 	1,232,218 	-
Grants and contributions 	53,735 	- 	53,735 	-
Unrestricted 	8,118,910 	22,668,779 	30,787,689 	12,748
Total net position 	25,518,286 	45,257,948 	70,776,234 	12,748
Total liabilities, deferred inflows of resources and net position 	40,261,192	$ 	73,052,398	$ 	113,313,590	$ 	277,119	$
Primary Government

-- 32 of 137 --

B OROUGH OF C ARLISLE
Statement of Activities
Year Ended December 31, 2020
The Notes to Financial Statements are an integral part of this statement. 	18
Discretely Presented
Component Unit
Functions/Programs 	Expenses
Charges for
Services
Operating Grants
and Contributions
Capital Grants
and Contributions
Governmental
Activities
Business‐type
Activities 	Total
Carlisle Borough
Municipal Authority
PRIMARY GOVERNMENT
Governmental activities
General government 	1,996,953	$ 	346,724	$ 	720,507	$ 	-	$ 	(929,722)	$ 	-	$ 	(929,722)	$ 	-	$
Public safety 	5,660,761 	250,898 	306,719 	- 	(5,103,144) 	- 	(5,103,144) 	-
Public services 	1,709,843 	37,174 	233,044 	1,348,420 	(91,205) 	- 	(91,205) 	-
Culture and recreation 	893,308 	110,814 	148,649 	- 	(633,845) 	- 	(633,845) 	-
Community development 	471,282 	- 	576,436 	- 	105,154 	- 	105,154 	-
Interest and amortization expense 	250,103 	- 	- 	- 	(250,103) 	- 	(250,103) 	-
Total governmental activities 	10,982,250 	745,610 	1,985,355 	1,348,420 	(6,902,865) 	- 	(6,902,865) 	-
Business‐type activities
Water 	3,447,981 	4,286,922 	1,158 	- 	- 	840,099 	840,099 	-
Sewer 	5,448,124 	6,105,810 	7,408 	323,801 	- 	988,895 	988,895 	-
Parking 	538,817 	400,579 	2,870 	- 	- 	(135,368) 	(135,368) 	-
Solid Waste 	1,656,256 	1,434,687 	43,340 	- 	- 	(178,229) 	(178,229) 	-
Stormwater 	1,054,813 	1,766,712 	298 	- 	- 	712,197 	712,197 	-
Total business-type activities 	12,145,991 	13,994,710 	55,074 	323,801 	- 	2,227,594 	2,227,594 	-
Total primary government 	23,128,241	$ 	14,740,320	$ 	2,040,429	$ 	1,672,221	$ 	(6,902,865)	$ 	2,227,594	$ 	(4,675,271)	$ 	-	$
DISCRETELY PRESENTED COMPONENT UNIT
Carlisle Borough Municipal Authority 	236,848	$ 	236,848	$ 	-	$ 	-	$ 	-	$ 	-	$ 	-	$ 	-	$
General revenues and transfers
Taxes
Property taxes, levied for general purposes 	5,143,699	$ 	-	$ 	5,143,699	$ 	-	$
Real estate transfer tax 	457,392 	- 	457,392 	-
Earned income tax 	2,195,815 	- 	2,195,815 	-
Local services tax 	744,834 	- 	744,834
Other taxes 	71,941 	- 	71,941 	-
Unrestricted investment earnings 	94,104 	152,146 	246,250 	269
Miscellaneous revenues 	81,317 	41,383 	122,700 	-
Transfers 	(73,124) 	73,124 	- 	-
Total general revenues and transfers 	8,715,978 	266,653 	8,982,631 	269
Change in net position 	1,813,113 	2,494,247 	4,307,360 	269
Net position - beginning 	23,705,173 	42,763,701 	66,468,874 	12,479
Net position - ending 	25,518,286	$ 	45,257,948	$ 	70,776,234	$ 	12,748	$
Program Revenue
Net (Expense) Revenue and Changes in Net Position
Primary Government

-- 33 of 137 --

B OROUGH OF C ARLISLE
Balance Sheet ‐ Governmental Funds
December 31, 2020
The Notes to Financial Statements are an integral part of this statement. 	19
General Fund
Capital Projects
Fund
Other
Governmental
Funds
Total
Governmental
Funds
ASSETS
Cash and cash equivalents 	13,515,089	$ 	986,437	$ 	1,314,151	$ 	15,815,677	$
Investments 	433,238 	- 	- 	433,238
Taxes receivable, net 	1,728,378 	- 	- 	1,728,378
Due from other funds 	837,878 	681,272 	- 	1,519,150
Other receivables 	283,881 	469,226 	39,415 	792,522
Inventories 	84,842 	- 	- 	84,842
Prepaid items 	138,156 	- 	- 	138,156
Loan receivable - long term 	200,000 	- 	- 	200,000
Total assets 	17,221,462	$ 	2,136,935	$ 	1,353,566	$ 	20,711,963	$
LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES
Liabilities
Accounts payable 	211,870	$ 	300,076	$ 	-	$ 	511,946	$
Due to other funds 	5,819,845 	527,613 	39,415 	6,386,873
Accrued wages, benefits and withholdings 	251,426 	- 	- 	251,426
Deposits payable 	373,645 	- 	- 	373,645
Total liabilities 	6,656,786 	827,689 	39,415 	7,523,890
Deferred Inflows of Resources
Unavailable revenue 	706,564 	150,152 	- 	856,716
Fund balances
Nonspendable 	422,998 	- 	- 	422,998
Spendable fund balance
Restricted 	19,175 	1,159,094 	1,314,151 	2,492,420
Committed 	598,344 	- 	- 	598,344
Assigned 	1,034,326 	- 	- 	1,034,326
Unassigned 	7,783,269 	- 	- 	7,783,269
Total fund balances 	9,858,112 	1,159,094 	1,314,151 	12,331,357
Total liabilities, deferred inflows of
resources and fund balances 	17,221,462	$ 	2,136,935	$ 	1,353,566	$ 	20,711,963	$

-- 34 of 137 --

B OROUGH OF C ARLISLE
Reconciliation of Governmental Funds Balance Sheet to the Statement of Net Position
December 31, 2020
The Notes to Financial Statements are an integral part of this statement. 	20
Total fund balance ‐ governmental funds 	12,331,357	$
Amounts reported for governmental activities in the Statement of Net Position are
different because:
Capital assets used in governmental activities are not current financial resources and
therefore are not reported in the fund financial statements, but are reported in the
governmental activities of the Statement of Net Position.
Property and equipment 	81,319,691
Accumulated depreciation 	(58,809,946)
22,509,745
Taxes receivable will be collected in the future, but are not available soon enough to pay
for the current period's expenditures, and therefore are not recorded in the fund
financial statements. Also, the governmental activities taxes receivable are reported net
of an allowance for uncollectable taxes. 	706,564
Grants receivable will be collected in the future, but are not available soon enough to pay
for the current period's expenditures, and therefore are not recorded in the fund
financial statements. 	150,152
The net pension asset is not available in the current period and is not included in the
balance sheet of governmental funds, but is included in the governmental activities of the
Statement of Net Position. The noncurrent asset and related deferred inflows and
outflows of resources consist of:
Net pension asset 	3,083,277
Deferred outflows related to net pension asset 	230,375
Deferred inflows related to net pension asset 	(3,088,661)
224,991
The total OPEB liability is due and payable in the current period and is not included in
the balance sheet of governmental funds, but is included in the governmental activities of
the Statement of Net Position. The noncurrent liability and related deferred inflows and
outflows of resources consist of:
Total OPEB liability 	(1,559,514)
Deferred outflows related to total OPEB liability 	78,490
(1,481,024)
Noncurrent liabilities are not due and payable in the current period and are not included
in the balance sheet of governmental funds, but are included in the governmental
activities of the Statement of Net Position. Noncurrent liabilities and related deferred
outflows of resources consist of:
Bonds and notes payable, net 	(8,043,312)
Accrued interest expense 	(48,645)
Deferred charge on bond refunding 	34,215
Compensated absences 	(865,757)
(8,923,499)
Total net position ‐ governmental activities 	25,518,286	$

-- 35 of 137 --

B OROUGH OF C ARLISLE
Statement of Revenues, Expenditures, and Changes in Fund Balances ‐
Governmental Funds
Year Ended December 31, 2020
The Notes to Financial Statements are an integral part of this statement. 	21
General Fund
Capital Projects
Fund
Other
Governmental
Funds
Total
Governmental
Funds
REVENUES
Taxes 	8,459,799	$ 	-	$ 	-	$ 	8,459,799	$
Licenses and permits 	447,615 	- 	- 	447,615
Fees and fines 	84,150 	- 	- 	84,150
Investment earnings 	76,069 	7,497 	10,538 	94,104
Rents 	63,102 	- 	- 	63,102
Intergovernmental 	1,010,299 	936,347 	1,127,894 	3,074,540
Charges for services 	73,246 	- 	- 	73,246
Contributions and miscellaneous 	262,653 	- 	- 	262,653
Proceeds from refunds/reimbursements 	210,477 	- 	- 	210,477
Total revenues 	10,687,410 	943,844 	1,138,432 	12,769,686
EXPENDITURES
General government
Borough council 	31,042 	- 	- 	31,042
Borough manager 	107,237 	- 	- 	107,237
Finance department 	134,163 	- 	- 	134,163
Tax collection 	128,492 	- 	- 	128,492
Personnel administration 	49,347 	- 	- 	49,347
Data processing 	65,832 	- 	- 	65,832
Legal services 	28,338 	- 	- 	28,338
Insurance premiums 	261,211 	- 	- 	261,211
Employee benefits (unallocated) 	580,148 	- 	- 	580,148
Buildings and plants 	2,633 	92,258 	- 	94,891
Public safety
Police department 	4,254,963 	112,929 	- 	4,367,892
Fire department 	1,105,632 	- 	- 	1,105,632
Codes department 	386,727 	1,185,831 	- 	1,572,558
Public works
Stormwater 	28,267 	- 	- 	28,267
Highways 	917,137 	261,504 	665,720 	1,844,361
Engineering 	118,784 	- 	- 	118,784
Parks and recreation 	747,442 	54,385 	- 	801,827
Conservation and community development 	80,123 	- 	391,159 	471,282
Debt service
Principal 	500,390 	104,531 	- 	604,921
Interest and fiscal charges 	168,314 	135,000 	- 	303,314
Total expenditures 	9,696,222 	1,946,438 	1,056,879 	12,699,539
Excess (deficiency) of revenues over (under)
expenditures 	991,188 	(1,002,594) 	81,553 	70,147
OTHER FINANCING SOURCES (USES)
Issuance of long-term debt 	- 	207,891 	- 	207,891
Proceeds from sale of capital assets 	14,451 	- 	- 	14,451
Transfers in 	185,277 	691,371 	- 	876,648
Transfers out 	(691,371) 	(73,124) 	(185,277) 	(949,772)
Total other financing sources and uses 	(491,643) 	826,138 	(185,277) 	149,218
Net change in fund balances 	499,545 	(176,456) 	(103,724) 	219,365
Fund balances - beginning 	9,358,567 	1,335,550 	1,417,875 	12,111,992
Fund balances - ending 	9,858,112	$ 	1,159,094	$ 	1,314,151	$ 	12,331,357	$

-- 36 of 137 --

B OROUGH OF C ARLISLE
Reconciliation of Statement of Revenues, Expenditures, and Changes in Fund Balances of
Governmental Funds to the Statement of Activities
Year Ended December 31, 2020
The Notes to Financial Statements are an integral part of this statement. 	22
Net change in fund balances ‐ total governmental funds 	219,365	$
Amounts reported for Governmental Activities in the Statement of Activities are different
because:
Capital outlays are reported in governmental funds as expenditures. However, in the
statement of activities, the cost of capital assets is allocated over their estimated useful lives
as depreciation expense. This is the amount by which depreciation expense differs from
capital outlays in the period.
Depreciation expense 	(1,320,268)
Capital outlays 	1,723,648
403,380
Because some taxes will not be collected within the first several months after the Borough's
fiscal year end, they are not considered as "available" revenues in the governmental funds.
The difference in tax revenues is: 	139,203
Because some grants will not be collected within the first several months after the Borough's
fiscal year end, they are not considered as "available" revenues in the governmental funds.
The difference in grant revenues is: 	(66,796)
Repayment of bond principal is an expenditure in the governmental funds, but the repayment
reduces long-term liabilities in the Statement of Net Position. 	604,921
The issuance of general obligation notes provides current financial resources to
governmental funds, but has no effect on net position. The amount includes note related items
at the time of issuance. 	(207,891)
Interest on long-term debt in the statement of activities differs from the amount reported in
the governmental funds because interest is recognized as an expenditure in the funds when it
is due, and thus requires the use of current financial resources. In the statement of activities,
interest expense is recognized as the interest accrues, regardless of when it is due. The
difference in interest accrued in the statement of activities compared to the amount due is
shown here. The amount also includes the amortization of deferred charge on bond
refunding. 	53,211
Total Other Post Employment Benefits (OPEB) liability and deferred inflows and outflows of
resources does not require the use of current financial resources and, therefore, is not
reported as an expense in the governmental funds. 	(122,451)
Net pension asset and related deferred inflows and outflows of resources do not require the
use of current financial resources and therefore is not reported as an expenditure in the
governmental funds. 	881,785
In the statement of activities, compensated absences are measured by the amounts incurred
during the year. In the governmental funds, however, expenditures for these items are
measured by the amount of financial resources used (essentially, the amounts actually paid).
This year the net amount incurred or (used) was: 	(91,614)
Change in net position ‐ governmental activities 	1,813,113	$

-- 37 of 137 --

B OROUGH OF C ARLISLE
Statement of Net Position ‐ Proprietary Funds
December 31, 2020
The Notes to Financial Statements are an integral part of this statement. 	23
Enterprise Funds
Water Fund 	Sewer Fund 	Parking Fund
Stormwater
Fund
Solid Waste
Fund 	Total
ASSETS
Current assets
Cash and cash equivalents 	5,647,680	$ 	10,952,406	$ 	1,179,697	$ 	963,547	$ 	381,562	$ 	19,124,892	$
Investments 	146,742 	298,142 	53,571 	- 	- 	498,455
Accounts receivable
Billed 	630,724 	533,426 	- 	137,248 	- 	1,301,398
Unbilled 	626,378 	869,516 	- 	310,067 	- 	1,805,961
Other receivables 	58,849 	366,754 	7,014 	298 	81,074 	513,989
Due from other funds 	3,570,757 	1,399,391 	232,672 	108,065 	102,644 	5,413,529
Inventories 	155,769 	206,903 	17,246 	5,054 	27,900 	412,872
Prepaid expenses 	27,411 	37,886 	1,007 	11,124 	1,696 	79,124
Total current assets 	10,864,310 	14,664,424 	1,491,207 	1,535,403 	594,876 	29,150,220
Noncurrent assets
Net pension asset 	273,962 	430,909 	21,209 	54,851 	5,705 	786,636
Capital assets
Land 	11,963 	166,938 	325,201 	- 	- 	504,102
Buildings and system, net 	6,741,067 	15,312,580 	834,994 	179,702 	6,904 	23,075,247
Improvements other than buildings, net 	1,784,760 	104,305 	316,888 	- 	21,401 	2,227,354
Machinery and equipment, net 	2,648,642 	13,501,732 	237,047 	58,226 	5,864 	16,451,511
Construction in progress 	611,097 	676,007 	17,245 	30,812 	- 	1,335,161
Total noncurrent assets 	12,071,491 	30,192,471 	1,752,584 	323,591 	39,874 	44,380,011
Total assets 	22,935,801 	44,856,895 	3,243,791 	1,858,994 	634,750 	73,530,231
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows related to pension asset 	10,836 	17,044 	3,257 	11,535 	226 	42,898
Deferred charge on bond refunding 	8,236 	8,050 	8,789 	- 	- 	25,075
Total deferred outflows of resources 	19,072 	25,094 	12,046 	11,535 	226 	67,973
Total assets and deferred outflows
of resources 	22,954,873	$ 	44,881,989	$ 	3,255,837	$ 	1,870,529	$ 	634,976	$ 	73,598,204	$
LIABILITIES
Current liabilities
Accounts payable and deposits 	262,450	$ 	663,327	$ 	13,193	$ 	44,753	$ 	26,536	$ 	1,010,259	$
Accrued wages payable 	36,050 	53,087 	2,898 	8,188 	2,430 	102,653
Accrued interest payable 	66,494 	93,665 	6,056 	202 	526 	166,943
Due to other funds 	161,379 	- 	47,174 	187,253 	150,000 	545,806
Compensated absences - current 	41,221 	95,257 	886 	21,770 	- 	159,134
Bonds, notes and loans payable - current 	765,597 	897,599 	136,174 	1,118 	5,091 	1,805,579
Total current liabilities 	1,333,191 	1,802,935 	206,381 	263,284 	184,583 	3,790,374
Noncurrent liabilities
Compensated absences 	48,390 	111,823 	1,040 	25,556 	- 	186,809
Bonds, notes and loans payable 	8,049,920 	14,815,131 	590,527 	30,195 	72,081 	23,557,854
Total noncurrent liabilities 	8,098,310 	14,926,954 	591,567 	55,751 	72,081 	23,744,663
Total liabilities 	9,431,501 	16,729,889 	797,948 	319,035 	256,664 	27,535,037
DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to pension asset 	279,784 	442,049 	21,217 	54,871 	7,298 	805,219
Total deferred inflows of resources 	279,784 	442,049 	21,217 	54,871 	7,298 	805,219
NET POSITION
Net investment in capital assets 	6,431,514 	14,685,953 	1,236,125 	206,545 	7,631 	22,567,768
Unrestricted 	6,812,074 	13,024,098 	1,200,547 	1,290,078 	363,383 	22,690,180
Total net position 	13,243,588 	27,710,051 	2,436,672 	1,496,623 	371,014 	45,257,948
Total liabilities, deferred inflows of
resources and net position 	22,954,873	$ 	44,881,989	$ 	3,255,837	$ 	1,870,529	$ 	634,976	$ 	73,598,204	$

-- 38 of 137 --

B OROUGH OF C ARLISLE
Statement of Revenue, Expenses, and Changes in Fund Net Position‐ Proprietary Funds
Year Ended December 31, 2020
The Notes to Financial Statements are an integral part of this statement. 	24
Enterprise Funds
Water Fund 	Sewer Fund 	Parking Fund
Stormwater
Fund
Solid Waste
Fund 	Total
OPERATING REVENUES
Charges for services 	4,116,880	$ 	6,081,855	$ 	400,219	$ 	1,766,712	$ 	1,416,052	$ 	13,781,718	$
OPERATING EXPENSES
Administrative 	524,043 	437,342 	347,263 	946,437 	22,691 	2,277,776
Insurance premiums 	80,377 	167,152 	8,085 	- 	- 	255,614
Employee benefits 	246,384 	402,287 	17,418 	67,765 	- 	733,854
Payroll taxes - employer's portion 	64,027 	104,010 	5,814 	21,611 	2,153 	197,615
Plants 	1,080,941 	1,514,750 	- 	- 	- 	2,595,691
Plant labs 	116,816 	419,672 	- 	- 	- 	536,488
Distribution/collection 	301,874 	332,843 	- 	- 	1,622,266 	2,256,983
Maintenance 	9,960 	124,084 	- 	10,340 	- 	144,384
Depreciation 	769,647 	1,537,367 	135,777 	8,833 	6,604 	2,458,228
Total operating expenses 	3,194,069 	5,039,507 	514,357 	1,054,986 	1,653,714 	11,456,633
Operating income 	922,811 	1,042,348 	(114,138) 	711,726 	(237,662) 	2,325,085
NONOPERATING REVENUES (EXPENSES)
Tap fees 	- 	23,811 	- 	- 	- 	23,811
Interest and investment revenue 	57,440 	79,784 	9,554 	3,165 	2,203 	152,146
Miscellaneous revenue 	181,332 	27,931 	3,361 	- 	18,635 	231,259
Intergovernmental 	1,158 	7,408 	2,870 	298 	43,166 	54,900
Interest expense 	(253,912) 	(408,617) 	(25,155) 	(202) 	(2,542) 	(690,428)
Total nonoperating revenues (expenses) 	(13,982) 	(269,683) 	(9,370) 	3,261 	61,462 	(228,312)
Income before transfers and capital
contributions 	908,829 	772,665 	(123,508) 	714,987 	(176,200) 	2,096,773
Capital contributions and grants 	- 	323,801 	- 	375 	174 	324,350
Transfers in 	27,625 	- 	- 	73,124 	- 	100,749
Transfers out 	- 	(26,505) 	- 	(1,120) 	- 	(27,625)
Change in net position 	936,454 	1,069,961 	(123,508) 	787,366 	(176,026) 	2,494,247
Total net position - beginning 	12,307,134 	26,640,090 	2,560,180 	709,257 	547,040 	42,763,701
Total net position - ending 	13,243,588	$ 	27,710,051	$ 	2,436,672	$ 	1,496,623	$ 	371,014	$ 	45,257,948	$

-- 39 of 137 --

B OROUGH OF C ARLISLE
Statement of Cash Flows ‐ Proprietary Funds
Year Ended December 31, 2020
The Notes to Financial Statements are an integral part of this statement. 	25
Enterprise Funds
Water Fund 	Sewer Fund 	Parking Fund
Stormwater
Fund
Solid Waste
Fund 	Total
Cash flows from operating activities
Receipts from customers 	4,015,009	$ 	6,883,395	$ 	400,285	$ 	1,772,194	$ 	1,409,965	$ 	14,480,848	$
Receipts/repayment of customer deposits 	- 	(138,790) 	- 	- 	- 	(138,790)
Payments to suppliers 	(1,090,609) 	(2,213,013) 	(513,088) 	17,313 	(1,490,621) 	(5,290,018)
Payments to and on behalf of employees 	(1,147,330) 	(1,735,197) 	(94,400) 	(1,181,796) 	(28,285) 	(4,187,008)
Net cash provided (used) by operating
activities 	1,777,070 	2,796,395 	(207,203) 	607,711 	(108,941) 	4,865,032
Cash flows from capital and related financing
activities
Purchase of capital assets 	(1,007,644) 	(1,218,490) 	155,986 	(177,028) 	(2,350) 	(2,249,526)
Proceeds from sale of capital assets 	- 	12,100 	- 	- 	- 	12,100
Proceeds from capital contributions and grants 	- 	246,629 	- 	298 	- 	246,927
Proceeds from tap fees 	- 	23,811 	- 	- 	- 	23,811
Principal paid on capital debt 	(669,820) 	(934,201) 	(109,307) 	- 	(4,751) 	(1,718,079)
Interest and fiscal charges paid on capital debt 	(357,311) 	(587,726) 	(32,382) 	(3,628) 	(2,727) 	(983,774)
Net cash provided (used) by capital and
related financing activities 	(2,034,775) 	(2,457,877) 	14,297 	(180,358) 	(9,828) 	(4,668,541)
Cash flows from non‐capital financing
activities
Grants/state aid received 	1,158 	- 	2,870 	- 	73,774 	77,802
Transfer from other funds 	27,625 	- 	- 	- 	174 	27,799
Transfer to other funds 	- 	(26,505) 	- 	(1,120) 	- 	(27,625)
Net cash provided (used) by non-capital
financing activities 	28,783 	(26,505) 	2,870 	(1,120) 	73,948 	77,976
Cash flows from investing activities
Purchase of investments 	(8,449) 	(17,166) 	(3,085) 	- 	- 	(28,700)
Sale of investments 	193,760 	393,658 	70,730 	- 	- 	658,148
Interest and dividends received 	210,480 	2,298,862 	25,572 	3,165 	23,565 	2,561,644
Net cash provided (used) by investing
activities 	395,791 	2,675,354 	93,217 	3,165 	23,565 	3,191,092
Net increase (decrease) in cash and cash equivalents 	166,869 	2,987,367 	(96,819) 	429,398 	(21,256) 	3,465,559
Cash and cash equivalents - beginning of the year 	5,480,811 	7,965,039 	1,276,516 	534,149 	402,818 	15,659,333
Cash and cash equivalents - end of the year 	5,647,680	$ 	10,952,406	$ 	1,179,697	$ 	963,547	$ 	381,562	$ 	19,124,892	$

-- 40 of 137 --

B OROUGH OF C ARLISLE
Statement of Cash Flows ‐ Proprietary Funds (Continued)
Year Ended December 31, 2020
The Notes to Financial Statements are an integral part of this statement. 	26
Enterprise Funds
Water Fund 	Sewer Fund 	Parking Fund
Stormwater
Fund
Solid Waste
Fund 	Total
Reconciliation of income from
operations to net cash provided (used)
by operating activities
Operating income 	922,811	$ 	1,042,348	$ 	(114,138)	$ 	711,726	$ 	(237,662)	$ 	2,325,085	$
Adjustments to reconcile operating income
to net cash provided (used) by operating
activities:
Depreciation and amortization expense 	769,647 	1,537,367 	135,777 	8,833 	6,604 	2,458,228
Miscellaneous nonoperating activities 	181,332 	15,831 	3,361 	375 	18,635 	219,534
(Increase) decrease in:
Accounts receivable 	(219,117) 	56,871 	- 	(49,204) 	- 	(211,450)
Due from other funds 	(1,424) 	(1,490) 	84,507 	- 	- 	81,593
Other receivables 	(49,073) 	728,838 	(3,295) 	54,311 	(24,722) 	706,059
Inventories 	(23,693) 	(6,156) 	5 	(70) 	4,095 	(25,819)
Prepaid expenses 	(22,739) 	(32,928) 	(1,007) 	(11,124) 	(1,696) 	(69,494)
Increase (decrease) in:
Accounts payable 	314,615 	(302,571) 	(340,693) 	68,251 	(24,198) 	(284,596)
Customer deposits 	- 	(138,790) 	- 	- 	- 	(138,790)
Due to other funds 	(15,438) 	(830) 	34,745 	(178,920) 	149,795 	(10,648)
Accrued wages payable 	9,283 	15,435 	(152) 	3,370 	2,380 	30,316
Compensated absences 	(2,593) 	19,085 	(7,247) 	14,865 	- 	24,110
Net pension asset and related items 	(86,541) 	(136,615) 	934 	(14,702) 	(2,172) 	(239,096)
Net cash provided (used) by operating activities 	1,777,070	$ 	2,796,395	$ 	(207,203)	$ 	607,711	$ 	(108,941)	$ 	4,865,032	$
Supplemental schedule of non‐cash capital and
related financing activities
Capital contributions and
change in grants receivable 	-	$ 	102,774	$ 	-	$ 	-	$ 	-	$ 	102,774	$

-- 41 of 137 --

B OROUGH OF C ARLISLE
Statement of Fiduciary Net Position
December 31, 2020
The Notes to Financial Statements are an integral part of this statement. 	27
Pension Trust
Funds
Private Purpose
Trust Fund
Custodial
Fund
ASSETS
Cash and cash equivalents 	831,549	$ 	2,880	$ 	$ 	826,191
Accrued interest receivable 	11 	250 	-
Fixed income mutual funds 	11,761,966 	159,327 	-
Mutual funds 	22,404,751 	76,934 	-
Total assets 	34,998,277	$ 	239,391	$ 	826,191	$
LIABILITIES
Accounts payable 	-	$ 	49,038	$ 	-	$
Due to other governments 	- 	- 	826,191
Total liabilities 	- 	49,038 	826,191
NET POSITION
Net position restricted for pensions 	34,998,277 	- 	-
Held in trust for benefits and other purposes 	- 	190,353 	-
Total net position 	34,998,277 	190,353 	-
Total liabilities and net position 	34,998,277	$ 	239,391	$ 	826,191	$

-- 42 of 137 --

B OROUGH OF C ARLISLE
Statement of Changes in Fiduciary Net Position
Year Ended December 31, 2020
The Notes to Financial Statements are an integral part of this statement. 	28
Pension Trust
Funds
Private Purpose
Trust Fund 	Custodial Fund
ADDITIONS
Contributions
Employer 	686,501	$ 	-	$ 	-	$
Plan members 	223,113 	- 	-
Total contributions 	909,614 	- 	-
Investment earnings
Net appreciation (depreciation) in fair value of investments 	4,411,347 	12,679 	-
Interest and dividends 	634,599 	7,705 	13,669
Investment activity expense 	(82,515) 	- 	-
Total net investment earnings 	4,963,431 	20,384 	13,669
Tax collections 	- 	- 	24,126,348
Total net additions (depreciation) 	5,873,045 	20,384 	24,140,017
DEDUCTIONS
Benefits 	1,468,379 	2,621 	-
Administrative 	55,365 	4,481 	-
Miscellaneous expense 	- 	196 	-
Tax remittances to other governments 	- 	- 	24,140,017
Total deductions 	1,523,744 	7,298 	24,140,017
Change in net position 	4,349,301 	13,086 	-
Net position - beginning 	30,648,976 	177,267 	-
Net position - ending 	34,998,277	$ 	190,353	$ 	-	$

-- 43 of 137 --

B OROUGH OF C ARLISLE
Notes to Financial Statements
29
N OTE 1 	S UMMARY OF S IGNIFICANT ACCOUNTING P OLICIES
Nature of Operations
The financial statements of the Borough of Carlisle, Pennsylvania, have been prepared in
conformity with generally accepted accounting principles (GAAP) as applied to governmental
units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting
body for establishing governmental accounting and financial reporting principles. The
government’s more significant accounting policies are described below.
Reporting Entity
Governmental Accounting Standards Board (GASB) Statements define the criteria used to
determine the composition of the reporting entity. These standards require that the reporting
entity include (1) the primary government; (2) organizations for which the primary
government is financially accountable; (3) organizations that are fiscally dependent on the
primary government and a financial benefit or burden exists, and (4) other organizations for
which the nature and significance of their relationship with the primary government are such
that exclusion would cause the reporting entity's financial statements to be misleading or
incomplete. The Borough is not a component unit of any other entities.
The definition of the reporting entity is based primarily on the notion of financial
accountability. A primary government is financially accountable for the organizations that
make up its legal entity. It is also financially accountable for legally separate organizations if its
officials appoint a voting majority of an organization's governing body and either it is able to
impose its will on that organization or there is a potential for the organization to provide
specific financial benefits to, or to impose specific financial burdens, on the primary
government. A primary government may also be financially accountable for the governmental
organizations that are fiscally dependent on it.
A primary government has the ability to impose its will on an organization if it can significantly
influence the programs, projects, or activities of, or the level of services performed or provided
by, the organization. A financial benefit or burden relationship exists if the primary
government (a) is entitled to the organization's resources; (b) is legally obligated or has
otherwise assumed the obligation in some manner for the debt of the organization; or (c) is
obligated in some manner for the debt of the organization.
Some organizations are included as component units because of their fiscal dependency on the
primary government. An organization is fiscally dependent on the primary government if it is
unable to adopt its budget, levy taxes or set rates or charges, or issue bonded debt without
approval by the primary government.
Based upon the application of these criteria, the following component unit is reported
discretely as it does not satisfy the blending criteria of GASB Standards:
The Carlisle Borough Municipal Authority (the “Authority”) is governed by a board
appointed by Borough Council. The Authority owns portions of the water system which
services almost entirely the Borough of Carlisle. The Borough leases the system for a fixed
rental fee of $ 1 per year. The term of the lease renews on a yearly basis until terminated by

-- 44 of 137 --

B OROUGH OF C ARLISLE
Notes to Financial Statements
30
N OTE 1 	S UMMARY OF S IGNIFICANT ACCOUNTING P OLICIES (C ONTINUED)
Reporting Entity (Continued)
either party. Under the terms of the lease, the Borough conducts all operations of the water
system including the financing of all capital improvements and setting of the water rates.
The Authority currently has no employees. The Borough can impose its will on the
Authority with its ability to approve budgets, approve and modify water rates and provides
all employees for the operation of the system.
Under Pennsylvania Borough code, Boroughs are unable to provide water and sewer
services directly to customers outside of Borough limits. The Borough provides water
services to a number of customers outside of Borough limits through the Municipal
Authority. The Borough provides the water service to the customers through the overall
operation of the water system and bills the customers directly for this service. To provide
for requirements of Borough Code, the Borough turns over the collection of the receipts
from these customers outside Borough limits to the Municipal Authority and in turn bills
the Municipal Authority the same amount for the purchase of the water.
As a result of the fact the Authority provides services to the citizens and not directly to the
Borough, the Authority is included in these financial statements as a discretely presented
component unit. Separately issued financial statements of the Authority can be obtained by
contacting management of the Borough.
Fund Accounting
The accounts of the Borough are organized on the basis of funds, each of which is considered a
separate accounting entity. The operations of each fund are accounted for with a separate set of
self-balancing accounts that comprise its assets, deferred outflows of resources, liabilities,
deferred inflows of resources, fund balance, revenue, and expenditures/expenses. The various
funds of the primary government are grouped into the categories of governmental, proprietary,
and fiduciary.
Governmental Funds
Governmental Funds are those through which most governmental functions of the Borough
are financed. The measurement focus is on the flow of expendable resources, rather than
on net earnings determination.
The Borough reports the following as major governmental funds:
General Fund - The General Fund is the general operating fund of the Borough. This
fund is used to account for all financial transactions except those required to be
accounted for in another fund. This is a budgeted fund, and any unrestricted fund
balances are considered as resources available for use.
Capital Projects Fund - The Capital Projects Fund is used to account for financial
resources to be used for the acquisition or construction of major capital facilities.

-- 45 of 137 --

B OROUGH OF C ARLISLE
Notes to Financial Statements
31
N OTE 1 	S UMMARY OF S IGNIFICANT ACCOUNTING P OLICIES (C ONTINUED)
Fund Accounting (Continued)
The Borough reports the following non-major governmental funds:
Special Revenue Funds - These funds are used to account for proceeds of specific
revenue sources used to finance specific activities as required by law or administrative
regulation. The Borough has the following Special Revenue Funds:
Community Development Block Grant is used to account for community
development block grants received and the program funds are restricted to be used
to fight urban blight and decay through structural rehabilitation of area homes and
businesses and community improvement projects.
Highway Aid Fund is used to account for state liquid fuels tax revenue that is
restricted to be used for building, improving, and maintaining local roads and
bridges.
Asset Forfeiture Fund is used to account for restricted funds received related to
asset forfeitures recovered by the police department that can only be spent on
police activities.
Proprietary Funds
These funds are used to account for the financing of services to the general public where all
or most of the costs involved are paid in the form of charges to the users of such services.
The focus of proprietary funds is on the determination of net earnings and capital
maintenance. The Borough has no internal service funds and only utilizes enterprise funds
as described below. No allowance for bad debts is deemed necessary by management for
receivables of the proprietary funds based on past experience, the ability to file liens, and a
review of current receivables.
The Borough reports the following as major enterprise funds:
Water Fund – Provide water and related services, including laboratory analysis, to the
Borough of Carlisle, its residents, business establishments and various customers within
the proximity of the Borough.
Sewer Fund – Provide wastewater treatment services, including laboratory analysis, for
the Borough of Carlisle, its residents, business establishments, and various customers
located within the proximity of the Borough.
Parking Fund – Regulates and controls vehicle parking throughout the Borough of
Carlisle.
Stormwater Fund – provides stormwater management services, including the
collection and conveyance of stormwater, for the Borough of Carlisle, its residents,
business establishments and various customers within the proximity of the Borough.
Solid Waste Fund – provides recycling and trash removal for the Borough of Carlisle, its
residents and business establishments throughout the Borough.

-- 46 of 137 --

B OROUGH OF C ARLISLE
Notes to Financial Statements
32
N OTE 1 	S UMMARY OF S IGNIFICANT ACCOUNTING P OLICIES (C ONTINUED)
Fund Accounting (Continued)
Fiduciary Funds
Fiduciary fund reporting focuses on net position and changes in net position. The fiduciary
fund category is split into four classifications: pension and other postemployment trust
funds, investment trust funds, private purpose trust funds, and custodial funds. Trust funds
are used to account for assets held by the Borough under a trust agreement for individuals,
private organizations, or other governments and are therefore not available to support the
Borough's own programs. Custodial funds are used to report fiduciary funds not required
to be reported in other fiduciary fund types.
The Borough’s Pension Trust Funds consist of:
Police Pension Trust Fund – Accounts for the accumulation of resources for pension
benefit payments to qualified public safety (police) employees.
Non‐Uniformed Pension Trust Fund – Accounts for the accumulation of resources for
pension benefit payments to qualified non-uniformed employees.
The Borough maintains a Private Purpose Trust Fund, which consists of:
Cemetery Trust Fund – Accounts for the maintenance of the Borough cemetery.
The Borough maintains a Custodial Fund, which consists of:
Tax Collection Fund – Accounts for the collection of and disbursement of certain real
estate taxes on behalf of other governmental entities.
Basis of Presentation
Government‐wide Financial Statements – The statement of net position and the statement of
activities display information about the Borough as a whole. These statements include the
financial activities of the primary government, except for fiduciary funds. The statements
distinguish between those activities of the Borough that are governmental and those that are
considered business-type activities. The primary government is reported separately from the
legally separate discretely presented component unit for which the primary government is
financially accountable.
The government-wide statements are prepared using the economic resources measurement
focus. This is the same approach used in the preparation of the proprietary fund financials but
differs from the manner in which governmental fund financials are prepared. Governmental
fund financial statements therefore include a reconciliation with brief explanations to better
identify the relationship between the government-wide statements and statements for
governmental funds.

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N OTE 1 	S UMMARY OF S IGNIFICANT ACCOUNTING P OLICIES (C ONTINUED)
Basis of Presentation (Continued)
The government-wide statement of activities presents a comparison between direct expenses
and program revenues for each segment of the business-type activities of the Borough, and
for each function or program of the Borough’s governmental activities. Direct expenses are
those that are specifically associated with a service, program, or department and therefore
clearly identifiable to a particular function. Program revenues include charges paid by the
recipient for the goods or services offered by the program and grants and contributions that
are restricted to meeting the operation or capital requirements of a particular program.
Revenues which are not classified as program revenues are presented as general revenues of
the Borough, with certain limited exceptions. The comparison of direct expenses and
program revenues identifies the extent to which each business segment or governmental
function is self-financing or draws from the general revenues of the Borough.
Fund Financial Statements – Fund financial statements report detailed information about
the Borough. The focus of the governmental and proprietary fund financial statements is on
major funds rather than reporting funds by type. Each major fund is presented in a separate
column. Nonmajor funds are aggregated and presented in a single column. The major fund
concept does not apply to fiduciary funds and they are reported by fund type.
The accounting and financial reporting treatment applied to a fund is determined by its
measurement focus. All governmental funds are accounted for using a flow of current
financial resources measurement focus. The financial statements for governmental funds are
a balance sheet, which generally includes only current assets, deferred outflows of resources,
current liabilities, deferred inflows of resources, and a statement of revenues, expenditures,
and changes in fund balances, which reports on the sources (i.e., revenues and other financing
sources) and uses (i.e., expenditures and other financing uses) of current financial resources.
All proprietary funds are accounted for on a flow of economic resources measurement focus.
With this measurement focus, all assets, deferred outflows, liabilities and deferred inflows
associated with the operation of these funds are included on the statement of net position.
The statement of revenue, expenses, and changes in fund net position presents increases (i.e.,
revenues) and decreases (i.e., expenses) in net position. The statement of cash flows provides
information about how the Borough finances and meets the cash flow needs of its proprietary
activities.
Fiduciary funds are reported using the economic resources measurement focus.
Basis of Accounting
The government-wide, proprietary, and fiduciary fund financial statements are reported
using the economic resources measurement focus and the accrual basis of accounting.
Revenues are recorded when earned and expenses are recorded when a liability is incurred,
regardless of the timing of related cash flows. Property taxes are recognized as revenues in
the year for which they are levied.

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N OTE 1 	S UMMARY OF S IGNIFICANT ACCOUNTING P OLICIES (C ONTINUED)
Basis of Accounting (Continued)
Grants and similar items are recognized as revenue as soon as all eligibility requirements
imposed by the provider have been met. Net position (total assets and deferred outflows of
resources less total liabilities and deferred inflows of resources) is used as a practical
measure of economic resources and the operating statement includes all transactions and
events that increased or decreased net position. Depreciation is charged as expense against
current operations and accumulated depreciation is reported on the statement of net
position.
The 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 government considers tax revenue to be
available if collected within 60 days of the end of the fiscal period. Revenues from federal,
state, and other grants designated for payment of specific Borough expenditures are
recognized when the related expenditures are incurred; accordingly, when such funds are
received, they are recorded as unearned revenues until earned. If time requirements are not
met, a deferred inflow of resources would be recorded. 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.
Cash, Cash Equivalents, and Investments
Cash and cash equivalents are defined as short-term, highly liquid investments that are
readily convertible to known amounts of cash and include investments with original
maturities of three months or less. Investments include certificate of deposit with an original
maturity greater than three months. Investments are stated at fair value. Accrued interest is
included with receivables on the statement of net position/balance sheet.
The Borough invests in funds with the Pennsylvania Local Government Investment Trust
(PLGIT). PLGIT operates and is authorized under the Intergovernmental Cooperation Act of
1972. Investments in these funds have a daily liquidity and are valued at amortized cost
which approximates fair value.
These funds invest in federal securities backed by the full faith and credit of the United States
Government, in agencies, instrumentalities and subdivisions of the Commonwealth of
Pennsylvania and backed by the full faith and credit of the Commonwealth, and certificates of
deposit which are insured by the Federal Insurance Corporation or which are collateralized as
provided by law of Act 72 of 1971.
Statement of Cash Flows
For purposes of the statement of cash flows presented for proprietary funds, the Borough
considers all highly-liquid debt instruments, including restricted assets, with maturities of
three months or less when purchased, to be cash equivalents.

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N OTE 1 	S UMMARY OF S IGNIFICANT ACCOUNTING P OLICIES (C ONTINUED)
Inventories
Inventories are valued using the FIFO (first in first out) cost method. Inventories recorded in
the various funds consist of expendable supplies held for consumption or resale. In the General
Fund, the cost is recorded as an expenditure at the time inventory items are purchased. The
nonspendable fund balance for inventories is established to indicate that a portion of the fund
balance is not available for future expenditures. Inventories in the proprietary funds are
recorded as expenses when the inventory items are consumed.
Prepaid Items
Prepaid items in the governmental funds are accounted for under the consumption method.
Capital Assets
General capital assets are those assets not specifically related to activities reported in the
proprietary funds and generally result from expenditures in the governmental funds. These
assets are reported in the governmental activities column of the government-wide statement of
net position but are not reported in the fund financial statements. Capital assets utilized by the
proprietary fund are reported both in the business-type column of the government-wide
statement of net position and in the respective fund.
All capital assets are capitalized at cost (or estimated historical cost) and updated for additions
and retirements during the year. Donated capital assets are recorded at their acquisition value
as of the date received. The Borough maintains a capitalization threshold of $ 5,000.
Improvements are capitalized; the costs of normal maintenance and repairs that do not add to
the value of the asset or materially extend an asset’s life are expensed. Interest costs related to
construction in the proprietary funds are expensed as incurred.
All infrastructure acquired after January 1, 1980 for the governmental activities is reported on
the government-wide statements. Infrastructure includes roads, bridges, traffic signals, storm
sewers and drains.
All reported capital assets are depreciated. Improvements are depreciated over the remaining
useful lives of the related capital assets. Depreciation is computed using the straight-line
method over the following useful lives:
Land Improvements 	50
Infrastructure 	20 - 40
Buildings 	30
Machinery and equipment 	5 - 10
Pipe 	25

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N OTE 1 	S UMMARY OF S IGNIFICANT ACCOUNTING P OLICIES (C ONTINUED)
Deferred Outflows and Inflows of Resources
In addition to assets, the statement of net position will sometimes report a separate section for
deferred outflows of resources. This separate financial statement element, deferred outflows of
resources, represents a consumption of net position that applies to a future period(s) and so will
not be recognized as an outflow of resources (expense) until then. The Borough has several
items that qualify for reporting in this category including the deferred charge on bond
refunding and various amounts related to the pension asset and OPEB liability. These amounts
will be amortized in future periods. A deferred charge on bond refunding results from the
difference in the carrying value of refunding debt and its reacquisition price. This amount is
deferred and amortized over the shorter of the life of the refunded or refunding debt.
In addition to liabilities, the statement of net position will sometimes report a separate section
for deferred inflows of resources. This separate financial statement element, deferred inflows of
resources, represents an acquisition of net position that applies to a future period(s) and so will
not be recognized as an inflow of resources (revenue) until that time. The Borough has several
items that qualify for reporting in this category including various amounts related to the
pension asset and OPEB liability. These amounts will be amortized in future periods. In
addition, the Borough has unavailable revenue that is reported as deferred inflows of resources
in the governmental funds balance sheet.
Net Position
In the government-wide financial statements and proprietary fund financial statements, net
position is classified in the following categories:
Net Investment in Capital Assets: This category groups all capital assets into one
component of net position. Accumulated depreciation and the outstanding balances of debt,
accounts payable and retainage payable that are attributable to the acquisition,
construction or improvement of these assets reduce this category. Net investment in capital
assets as of December 31, 2020 consists of the following:
Government ‐Wide Activities
Governmental Business‐Type
Activities 	Activities
Capital assets 	22,509,745	$ 	43,593,375	$
Bonds and notes payable 	(8,043,312) 	(25,363,433)
Accounts and retainage payable related
to capital assets 	(275,315) 	(577,253)
Deferred charge on bond refunding 	34,215 	25,075
Unspent debt proceeds 	573,939 	4,911,405
Net investment in capital assets 	14,799,272	$ 	22,589,169	$
Proprietary Funds
Water 	Sewer 	Parking 	Stormwater 	Solid Waste
Fund 	Fund 	Fund 	Fund 	Fund
Capital assets 	11,797,529	$ 	29,761,562	$ 	1,731,375 	268,740	$ 	34,169	$
Bonds and notes payable 	(8,815,517) 	(15,712,730) 	(726,701) 	(31,313) 	(77,172)
Accounts and retainage payable related
to capital assets 	(125,708) 	(420,663) 	- 	(30,882) 	-
Deferred charge on bond refunding 	8,236 	8,050 	8,789 	- 	-
Unspent debt proceeds 	3,566,974 	1,049,734 	222,662 	- 	72,035
Net investment in capital assets 	6,431,514	$ 	14,685,953	$ 	1,236,125	$ 	206,545	$ 	29,032	$

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N OTE 1 	S UMMARY OF S IGNIFICANT ACCOUNTING P OLICIES (C ONTINUED)
Net Position (Continued)
Restricted: This category presents external restrictions imposed by creditors, grantors,
contributors or laws and regulations of other governments and restrictions imposed by law
through constitutional provisions or enabling legislation. As of December 31, 2020,
restrictions of net position are as follows: highway projects of $ 1,286,004, police activities
of $ 28,147, various grants and contributions of $ 53,735 and capital projects of $ 1,232,218.
Unrestricted: This category of net position is the amount of assets, deferred outflows of
resources, liabilities, and deferred inflows of resources that are not included in the
determination of net investment in capital assets or the restricted component of net
position.
Net Position Flow Assumption
Sometimes the Borough will fund outlays for a particular purpose from both restricted
(e.g. restricted bond or grant proceeds) and unrestricted resources. In order to calculate the
amounts to report as restricted-net position and unrestricted-net position, a flow assumption
must be made about the order in which the resources are considered to be applied. It is the
Borough’s policy to use restricted resources first, then unrestricted resources as they are
needed.
Fund Balance – Governmental Funds
Governmental funds classify fund balance based on the relative strength of the spending
constraints placed on the purpose for which resources can be used. The classifications are as
follows:
Nonspendable: This classification includes amounts that cannot be spent because they are
either (1) not in spendable form or (2) legally or contractually required to be maintained
intact. This classification includes items such as prepaid amounts, inventories, and the long-
term portion of loans and notes receivable. This also includes the corpus (or principal) of
permanent funds.
Restricted: This classification includes amounts where the constraints placed on the use of
resources are either (1) externally imposed by creditors (such as through debt covenants),
grantors, contributors, or laws or regulations of other governments; or (2) imposed by law
through constitutional provisions or enabling legislation. Enabling legislation authorizes
the government to assess, levy, change or mandate payment and includes a legally
enforceable requirement on the use of these funds.
Committed: This classification includes amounts that can only be used for specific purposes
pursuant to constraints imposed by formal action of the Borough’s highest level of decision-
making authority. This formal action is in the form of a resolution which is made by the
Borough Council. Once an amount is committed, it cannot be used for any other purpose
unless changed by the same type of formal action used to initially constrain the funds.

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N OTE 1 	S UMMARY OF S IGNIFICANT ACCOUNTING P OLICIES (C ONTINUED)
Fund Balance – Governmental Funds (Continued)
Assigned: This classification includes spendable amounts that are reported in
governmental funds other than the General Fund that are neither restricted nor committed
and amounts in the General Fund that are intended to be used for a specific purpose. The
intent of an assigned fund balance should be expressed by the Borough Council to assign
amounts to be used for specific purposes. The assignment of fund balance cannot result in a
negative unassigned fund balance.
Unassigned: This classification represents the portion of a spendable fund balance that has
not been categorized as restricted, committed, or assigned. The general fund is the only
fund which would include a positive unassigned fund balance as all other fund types must
categorize amounts within the other classifications. A negative unassigned fund balance
may occur in any fund when there is an over expenditure of restricted or committed fund
balance. In this case, any assigned fund balance (and unassigned fund balance in the
general fund) would be eliminated prior to reporting a negative unassigned fund balance.
Order of Spending Policy
When an expenditure is incurred for purposes for which both restricted and unrestricted
resources are available, the Borough’s policy is to spend resources in the following order:
1. 	Restricted
2. 	Unrestricted
Unless Borough Council specifically approves use of committed resources, or the Committee or
body/official designated by Borough Council specifically approves the use of assigned or
committed resources, the Borough’s policy is to spend unrestricted resources in the following
order:
1. 	Unassigned
2. 	Assigned
3. 	Committed
Interfund Activity
Advances between funds are accounted for in the appropriate interfund receivable and payable
accounts. Advances between funds which are not expected to be repaid are accounted for as
transfers. Interfund balances and transactions are eliminated in the government-wide financial
statements. It is the Borough’s general rule to eliminate internal activity in the government-
wide statement of activities, such as receipts and payments between the Borough’s water fund
and Municipal Authority.
Exchange transactions, if any, between funds are reported as revenues in the seller funds and as
expenditures/expenses in the purchaser funds. Flows of cash or goods from one fund to
another without a requirement for repayment are reported as interfund transfers. Interfund
transfers are reported as other financing sources/uses in governmental funds and are shown
separately in proprietary funds.

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N OTE 1 	S UMMARY OF S IGNIFICANT ACCOUNTING P OLICIES (C ONTINUED)
Budgets and Budgetary Accounting
Borough Council adopts annual budgets on a basis consistent with generally accepted
accounting principles (GAAP) for all funds except the Community Development Block Grant
Fund. All annual appropriations lapse at the end of each year and must be reappropriated.
By the end of the first week in September, budget requests must be submitted to the Finance
Department by all agencies and divisions of the Borough so that appropriations can be
tabulated and a prospective budget prepared. The budget is prepared by fund and department.
The budget is approved at the department level. The department level presented in the
Budgetary Comparison Schedule included as required supplementary information represents
the legal level of budgetary control. It includes information of the last three fiscal years, current
year budget, current year estimates, and requested appropriations for the coming year.
Meetings are held by the Borough Manager and Finance Director with each department head
and supervisor to determine budgetary needs.
By early November, the proposed budget is presented to Borough Council for its review.
Council holds budget-workshop meetings to review all budget requests and to have any
questions answered. These meetings involve all council members in the budget process, and
members can add to or subtract from any budget line item. The workshops are publicly
advertised and open to all Borough citizens. After the informational workshops are complete,
Council instructs the Borough Manager to put the budget on display in the Manager's office for
review by the Borough's interested citizens. Council then holds public hearings on the budget
where changes can occur once again. All expenditure changes must be made within the realm
of revenue as estimated by the Manager and Finance Director, or the revenue estimates must be
changed to reflect increased or additional fees and revenue. Council must approve a fiscally-
sound, balanced budget by December 31 of each fiscal year.
Expenditures may not legally exceed budgeted appropriations at the activity (department)
level. Departmental budgets are kept in balance through budget transfers initiated by
department heads and approved by the Finance Director and Borough Manager. Department
heads must show where the savings will occur, or they must "give up" a budget item to force
cost savings. Borough Council may increase a departmental budget through a contingency
transfer or a supplemental appropriation at any time during the fiscal year. If a departmental
budget is exceeded during the year, a transfer from contingency or supplemental appropriation
must be granted by Council for the department to continue operations. Borough Council has the
exclusive authority to approve a contingency transfer. Council may also enact supplementary
appropriations to the budget.
Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting
principles requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities, and the disclosure of contingent assets and liabilities, if any, at
the date of the financial statements, and the reported amounts of revenues and expenses during
the reporting period. Actual results could differ from those estimates.

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N OTE 1 	S UMMARY OF S IGNIFICANT ACCOUNTING P OLICIES (C ONTINUED)
Long‐Term Obligations
In the government-wide financial statements, long-term debt and other long-term obligations
are reported as liabilities in the applicable governmental or business type activity columns in
the statement of net position. This same treatment also applies to proprietary fund financial
statements. Bond premium and discount, as well as prepaid bond insurance, are deferred and
amortized over the life of the bonds using the straight-line method, which approximates the
effective interest method. Bonds payable are reported net of the applicable bond premium or
discount. Prepaid bond insurance costs are reported as an asset and amortized over the term of
the related debt.
In the fund financial statements, governmental fund types recognize bond premiums and
discounts during the current period. The face amount of debt issued is reported as other
financing sources while discounts on debt issuances are reported as other financing uses (if
resulting from a disparity in interest rates) or as debt service expenditures (if resulting from
underwriter’s fees). Issuance costs (including prepaid bond insurance), whether or not
withheld from the actual debt proceeds received, are reported as debt service expenditures.
Classification of Revenues
For proprietary funds, the Borough has classified its revenues as either operating or
nonoperating revenues according to the following criteria:
Operating revenues – Operating revenues include activities that have the characteristics of
exchange transactions, such as utility billings and penalties and late charges.
Nonoperating revenues – Nonoperating revenues include activities that have the
characteristics of non-exchange transactions (in which the Borough receives value without
directly giving equal value in return), such as contributions and grants and other revenues
that are defined as nonoperating revenues by GASB, such as investment earnings and
insurance recoveries. In addition, tap fees are considered non-operating because they are
based on future capacity needs of the utility system.
Pension Plans
The Borough has established two contributory defined benefit pension plans for the benefit of
substantially all full-time employees. The financial statements related to its pension plans are
prepared using the accrual basis of accounting. Plan member contributions are recognized in
the period in which the contributions are due. Employer contributions to each plan are
recognized when due and the employer has made a formal commitment to provide the
contributions. Benefits and refunds are recognized when due and payable in accordance with
the terms of each plan.
The Borough has adopted the International City Managers Association (ICMA) Deferred
Compensation Plan which has been created in accordance with Internal Revenue Code Section
457(g). The Plan, available to all Borough employees, permits them to defer a portion of their
salary until future years. A yearly contribution by the Borough of 2% of the participants’ annual

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N OTE 1 	S UMMARY OF S IGNIFICANT ACCOUNTING P OLICIES (C ONTINUED)
Pension Plans (Continued)
salary is available for department heads. The Borough has also adopted an ICMA Deferred
Compensation Plan under Internal Revenue Code 401(a). This plan is for electing department
heads and includes a yearly contribution by the Borough of 6% of the participants’ annual
salary to the defined contribution plan. Existing department heads as of 2009 elected which
pension plan they would participate in (defined contribution or defined benefit); however,
department heads hired after 2009 do not have an election, and are automatically enrolled in
the 401(a) plan. The deferred compensation for both plans is not available to employees until
termination, retirement, death, or unforeseeable emergency.
All amounts of compensation deferred under the plans, all property and rights purchased with
those amounts, and all income attributable to those amounts, property, or rights are solely the
property and rights of the participants and beneficiaries under the Plan. Participants' rights
under the plans consist of an amount equal to the fair value of the deferred account for each
participant. The participants have the ability to make investment choices within the plans’
options and therefore, maintain control of the assets. In accordance with provisions of the
GASB, the assets and liabilities of the 457(g) plan and 401(a) plan are not reported on the
financial statements of the Borough.
Other Postemployment Benefits Other Than Pensions
GASB establishes standards for the measurement, recognition, and display of other
postemployment benefit expenditures and related liabilities, note disclosures, and if applicable,
required supplementary information (RSI) in the financial reports of state and local
governmental employers. The Borough's other postemployment benefits are accounted for in
accordance with these standards.
The Borough has a healthcare plan for retired police employees, which is a single employer
defined benefit healthcare plan administered by the Borough. The plan provides medical and
prescription drug coverage for the retiree and spouse for 18 months. Officers who retire with a
minimum age of 50 and have at least 25 years of service may elect to be covered by the
Borough’s health care program. Seventy-five (75%) percent of the cost will be paid by the
Borough and twenty-five (25%) percent by the retired officer. An early retirement benefit is
provided to a member with 20 or more years of service who terminates employment prior to
completion of superannuation retirement age and service requirements and who files a written
application for the early retirement benefit with Borough Council. These officers are entitled to
participate in the health care plan program where the Borough pays 25% and the officer pays
75% of the premium cost until the retiree reaches age 65 or becomes eligible for Medicare.
Compensated Absences
Liability for compensated absences is accounted for in accordance with the provisions of the
GASB, which require entities to accrue for employees’ rights to receive compensation for
vacation leave, or payments in lieu of accrued vacation or sick leave, as such benefits are earned
and payment becomes probable.

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N OTE 1 	S UMMARY OF S IGNIFICANT ACCOUNTING P OLICIES (C ONTINUED)
Compensated Absences (Continued)
Under terms of the Borough's personnel policies, employees are granted vacation and sick leave
in varying amounts. All employees (including uniformed police) are permitted to accumulate
two times the annual appropriation of vacation and a maximum of 45 sick days. Upon
retirement from the Borough, non-uniformed employees and police are reimbursed for
accumulated sick and vacation leave in accordance with personnel policies. Accumulated,
unpaid vacation and sick pay are accrued when incurred in enterprise funds and the
government-wide statements. In governmental funds, an expenditure is recorded when the
associated payment becomes due or matures.
N OTE 2 	DEPOSITS AND INVESTMENTS
The Borough and its discretely presented component unit are authorized to invest in the
following:
 	U.S. Treasury Bills.
 	Short term obligations of the U.S. Government or its agencies.
 	Deposits in savings accounts or time deposits or share accounts of institutions insured by
the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance
Fund to the extent that such accounts are so insured, and, for any amounts above the
insured maximum, provided that approved collateral as provided by law therefore shall be
pledged by the depository.
 	Obligations of the United States of America or any of its agencies or instrumentalities
backed by the full faith and credit of the respective governmental entity.
 	Shares of an investment company registered under the Investment Company Act of 1940.
 	Obligations, participations or other instruments of any federal agency, instrumentality or
Unites States government-sponsored enterprise if the debt obligations are rated at least “A”
or its equivalent.
 	Commercial paper issues by corporations or other business entities organized in
accordance with federal or state law, with a maturity not to exceed 270 days.
 	Bills of exchange or time drafts drawn on and accepted by a commercial bank, otherwise
known as bankers’ acceptances, if the banker’s acceptances do not exceed 180 days
maturity.
 	Negotiable certificates of deposit or other evidence of deposit, with a remaining maturity of
three years or less.
The Pension and Cemetery Trust Funds are also authorized to invest in common and preferred
stocks and corporate bonds.
Deposits – Custodial Credit Risk
Custodial credit risk is the risk that in the event of a bank failure, the Borough’s deposits may
not be returned to it. The Borough does not have a policy for custodial credit risk. As of
December 31, 2020, the Borough has a bank balance of $ 15,444,439. Of this balance,
$ 2,661,874 is covered by FDIC insurance and the remaining balance of $ 12,782,565 was
exposed to custodial credit risk. This balance was uninsured but is collateralized by securities
held by the pledging financial institution, not in the Borough’s name.

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N OTE 2 	DEPOSITS AND INVESTMENTS (C ONTINUED )
Deposits – Custodial Credit Risk (Continued)
Pennsylvania Act 72 of 1971, as amended, is an act standardizing the procedures for pledges of
assets to secure deposits of public funds with banking institutions pursuant to other laws;
establishing a standard rule for the types, amounts and valuations of assets eligible to be used
as collateral for deposits of public funds; permitting assets to be pledged against deposits on a
pooled basis and authorizing the appointment of custodians to act as the pledger of the assets.
Based on the standards outlined in Act 72, the various banks utilized by the Borough have
pledged collateral on a pooled basis on behalf of the Borough and all other governmental
depositors in the respective financial institutions.
Investments
As of December 31, 2020, the Borough’s investments were as follows:
Credit
Fair Value 	Quality Rating
PLGIT-Class 	16,361,692 	AAAm
PLGIT-Prime 	5,100,972 	AAAm
Cetera Advisors - Negotiable CD’s 	931,693 	Not Rated
The investments in PLGIT are considered cash equivalents for financial reporting purposes. The
negotiable certificates of deposit are considered cash equivalents and investments for financial
reporting purposes based on maturities. The brokered certificates of deposit held at Cetera
Advisors were all covered by FDIC insurance.
Credit Risk – Investments
The Borough has no investment policy that would limit its investment choices to certain
credit ratings.
Included in cash and cash equivalents in the financial statements are pooled investments in
the Pennsylvania Local Government Investment Trust (PLGIT)-ARM, PLGIT-Class, and
PLGIT-Prime. PLGIT is an external investment pool. These funds operate similarly to
mutual funds that consist of short-term money market instruments and seek to maintain a
constant net asset value of $ 1 per share. PLGIT deposits were invested by PLGIT directly
into portfolios of securities which are held by a third-party custodian. The Borough’s
investments that have a credit quality rating are included in the table above.
Interest Rate Risk – Investments
The Borough does not have a formal investment policy that limits investment maturities as
a means of managing its exposure to fair value losses arising from increasing interest rates.
Investments in PLGIT-ARM, PLGIT-Class, and PLGIT-Prime are not subject to interest rate
risk as the funds are accessible on a daily basis and the interest rates change daily based on
market conditions.

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N OTE 2 	DEPOSITS AND INVESTMENTS (C ONTINUED )
Investments (Continued)
Policies Followed at PLGIT
PLGIT is not registered with the Securities and Exchange Commission (SEC); however,
PLGIT follows investment procedures similar to those followed by SEC registered money
market funds. There is no regulatory oversight for the pools which are governed by the
Board of Trustees. The Borough’s investments in PLGIT are valued at amortized cost, which
approximates fair value and is determined by the pools’ share price.
The Borough has no limitations or restrictions on withdrawals on accounts held at PLGIT.
Municipal Pension Plans
Investments held by the trustees of the pension plans are as follows:
Total 	Investment Maturities (in Years)
Fair 	Less
Value 	Than 1 	1‐5 	6‐10
Federated treasury obligations 	831,549	$ 	831,549	$ 	-	$ 	-	$
Fixed Income Mutual Funds 	11,761,966 	4,481,596 	342,565 	6,937,805
Open End Mutual Funds 	22,404,751 	22,404,751 	- 	-
34,998,266	$ 	27,717,896	$ 	342,565 	6,937,805	$
Credit Risk – Pension Plans
The Borough’s pension investment policy limits investment in fixed income and non-fixed
income securities to those rated “B” or better by one of the two major rating services. The fixed
income mutual funds include several different funds and have average S & P quality ratings
between BBB and A.
Interest Rate Risk – Pension Plans
The Borough does not have a formal written policy that limits investment maturities as a means
of managing its exposure to fair value losses arising from increasing interest rates. The
Borough’s investments are subject to interest rate risk as previously disclosed in the table
above.
Foreign Securities and Currencies Risk – Pension Plans
Foreign securities prices may decline or fluctuate because of economic or political actions of
foreign governments or the possibility that foreign currency will fluctuate in value against the
U.S. dollar. Included in the open-end mutual funds are International equities and mutual funds
with a fair value of $ 7,963,205. These may be subject to foreign securities and currencies risk.

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Notes to Financial Statements
45
N OTE 2 	DEPOSITS AND INVESTMENTS (C ONTINUED )
Private Purpose Trust Fund
Investments held by the trustees of the Cemetery Trust are as follows:
Total 	Investment Maturities (in Years)
Fair 	Less
Value 	Than 1 	1‐5 	6‐10
Fixed Income Mutual Funds 	159,327	$ 	-	$ 	5,053	$ 	154,274	$
Mutual Funds 	76,934 	76,934 	- 	-
236,261	$ 	76,934	$ 	5,053	$ 	154,274	$
Credit Risk – Private Purpose Trust
The Borough does not have an investment policy related to its private purpose trust fund. The
fixed income mutual funds include several different funds and have average S & P quality
ratings between BBB and B.
Interest Rate Risk – Private Purpose Trust
The Borough does not have a formal written policy that limits investment maturities as a means
of managing its exposure to fair value losses arising from increasing interest rates. The
Borough’s investments are subject to interest rate risk as previously disclosed in the table
above.
Foreign Securities and Currencies Risk – Private Purpose Trust
Foreign securities prices may decline or fluctuate because of economic or political actions of
foreign governments or the possibility that foreign currency will fluctuate in value against the
U.S. dollar. Included in the open-end mutual funds are International equities and mutual funds
with a fair value of $ 8,567. These may be subject to foreign securities and currencies risk.
Investments – Fair Value Measurements
Generally accepted accounting principles define fair value, describe a framework for measuring
fair value, and require disclosure about fair value measurements. Recurring fair value
measurements are those that GASB Statements require or permit at the end of each reporting
period. The established framework includes a three-level hierarchy that prioritizes the inputs to
valuation techniques used to measure fair value. The fair value hierarchy gives the highest
priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the
lowest priority to unobservable inputs (Level 3).

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Notes to Financial Statements
46
N OTE 2 	DEPOSITS AND INVESTMENTS (C ONTINUED )
Investments – Fair Value Measurements (Continued)
If the inputs used to measure the assets or liabilities fall within different levels of the hierarchy,
the classification is based on the lowest level input that is significant to the fair value
measurement of the asset or liability. Classification of assets and liabilities within the hierarchy
considers the markets in which the assets and liabilities are traded, and reliability and
transparency of the assumptions used to determine fair value. The hierarchy requires the use of
observable market data when available. The levels of the hierarchy and those investments
included in each are as follows:
Level 1 – Represented by quoted prices available in an active market. Level 1 securities
include highly liquid government bonds, treasury securities, mortgage products and
exchange traded equities and mutual funds.
Level 2 – Represented by assets and liabilities similar to Level 1 where quoted prices are
not available, but are observable, either directly or indirectly through corroboration with
observable market data, such as quoted prices for similar securities and quoted prices in
inactive markets and estimated using pricing models or discounted cash flows. Level 2
securities would include U.S. government agency securities, mortgage-backed agency
securities, obligations of states and political subdivisions, and certain corporate, asset
backed securities, swap agreements, and life insurance contracts.
Level 3 – Represented by financial instruments where there is limited activity or
unobservable market prices and pricing models significant to determining the fair value
measurement include the reporting entity’s own assumptions about the market risk. Level 3
securities would include hedge funds, private equity securities, and those with internally
developed values.
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any
input that is significant to the fair value measurement.
The following is a description of the valuation methodologies used for instruments measured at
fair value on the statement of net position, as well as the general classification of such
instruments pursuant to the valuation hierarchy.
Federated Treasury Obligations
The fair value of treasury obligations is estimated using quoted active markets for identical
assets. Such investments are generally classified as Level 1 of the valuation hierarchy.
Brokered Certificates of Deposit
The fair value of brokered certificates of deposit are estimated using a discounted cash flow
calculation that applies to interest rates currently being offered for deposits of similar
remaining maturities to a schedule of aggregated expected maturities of such deposits. Such
investments are generally classified within Level 2 of the valuation hierarchy.

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Notes to Financial Statements
47
N OTE 2 	DEPOSITS AND INVESTMENTS (C ONTINUED )
Investments – Fair Value Measurements (Continued)
Mutual Funds
Mutual funds listed on a national market or exchange are valued at the last sales price, or if
there is no sale and the market is still considered active, at the mean of the last bid and ask
prices on such exchange. The Borough’s interests in mutual funds are categorized by type
as equity, fixed income, or alternative investments. Such securities are typically classified
within Level 1 of the valuation hierarchy.
The following table sets forth, by level within the fair value hierarchy, the financial assets that
were accounted for at fair value on a recurring basis as of December 31, 2020:
Fair Value
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Federated treasury obligations 	831,549	$ 	831,549	$ 	-	$ 	-	$
Brokered certificates of deposit 	931,693 	- 	931,693 	-
Mutual funds by type:
Fixed Income Mutual Funds 	11,921,293 	11,921,293 	- 	-
Open End 	22,481,685 	22,481,685 	- 	-
34,402,978 	34,402,978 	- 	-
Total investments by fair value category 	36,166,220	$ 	35,234,527	$ 	931,693	$ 	-	$

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B OROUGH OF C ARLISLE
Notes to Financial Statements
48
N OTE 3 	T AXES RECEIVABLE AND U NAVAILABLE T AX REVENUES
Property taxes are levied on March 1 for the tax year. Taxes are payable at a 2% discount if
paid before May 1 and at a 10% penalty if paid after the due date of June 30. In response to the
COVID-19 disaster emergency, the Borough provided a waiver of the 10% penalty for the period
of July 1, 2020 to October 31, 2020 provided the full amount of the tax due of the face amount
was paid on or before October 31, 2020. Outstanding real estate taxes are turned over to a
delinquent tax collector on January 15 of each year. After proper notification is made to a
property owner, a lien is filed on or about May 1 and must remain in effect for a period of two
years before a tax sale may occur. Taxes are recorded as revenue by the Borough when
received from the tax collector, and accruals are recorded at year-end for taxes expected to be
received within 60 days of December 31 in accordance with the modified accrual basis of
accounting. The total assessed valuation as of December 31, 2020 is $ 1,484,239,400.
Taxes receivable consists of the following as of December 31, 2020:
Real Estate 	816,397	$
Fire tax 	31,611
LST tax 	196,803
Earned Income 	638,812
Realty Transfer 	51,313
Allowance for uncollectible accounts 	(6,558)
Taxes receivable 	1,728,378
Taxes collected within sixty days, recorded as
revenues in the governmental funds 	(1,021,814)
Taxes estimated to be collected after sixty days,
recorded as deferred inflows of resources -
unavailable tax revenue in the governmental funds 	706,564	$
N OTE 4 	INTERFUND RECEIVABLES AND P AYABLES AND T RANSFERS
Due from/to other funds consist of the following as of December 31, 2020:
Due from 	Due To Other
Other Funds 	Funds
Major Governmental Funds:
General Fund 	837,878	$ 	5,819,845	$
Capital Projects Fund 	681,272 	527,613
Non-major Governmental Funds:
Community Development Block Grant 	- 	39,415
Major Enterprise Funds:
Water Fund 	3,570,757 	161,379
Sewer Fund 	1,399,391 	-
Parking Fund 	232,672 	47,174
Stormwater Fund 	108,065 	187,253
Non-major Enterprise Funds:
Solid Waste Fund 	102,644 	150,000
6,932,679	$ 	6,932,679	$

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Notes to Financial Statements
49
N OTE 4 	INTERFUND RECEIVABLES AND P AYABLES AND T RANSFERS (C ONTINUED)
The due to/due from amounts resulted from the following:
Enterprise Funds to Enterprise Funds: for invoices paid by a fund on behalf of another
fund that is to be reimbursed.
General Fund to Enterprise Funds: for amount due for various reconciling items,
including payroll.
General Fund to Capital Projects Fund and Enterprise Funds: for payment of cash
proceeds from debt issuances and reimbursement related to grant proceeds.
Capital Projects Fund to General Fund: for debt payments made from the General Fund
on the Capital Projects Fund’s behalf.
Non‐major Governmental Funds to General Fund: for projects eligible under the
Community Development Block Grant and budgeted allocation for asset forfeiture.
Stormwater Fund to General Fund: to repay start-up cash for the establishment of the
stormwater fund.
Interfund transfers consist of the following for 2020:
Transfers In 	Transfers Out
Major Governmental Funds:
General Fund 	185,277	$ 	691,371	$
Capital Projects Fund 	691,371 	73,124
Non-major Governmental Funds:
Community Development Block Grant Fund 	- 	185,277
Major Enterprise Funds:
Water Fund 	27,625 	-
Sewer Fund 	- 	26,505
Stormwater Fund 	73,124 	1,120
977,397	$ 	977,397	$
The following transfers were made during the year:
CDBG Fund to General Fund: for transfer of funds received into the general fund relating
to projects eligible under the Community Development Block Grant program.
Sewer Fund and Stormwater Fund to Water Fund: for one-half of costs of meter
maintenance.
General Fund to Capital Projects Fund: for portion of budgeted transfer.
Capital Projects Fund to Stormwater Fund: for drawdown of funds for capital projects.

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B OROUGH OF C ARLISLE
Notes to Financial Statements
50
N OTE 5 	C APITAL ASSETS
Capital asset activity for the Borough consists of the following as of and for the year ended
December 31, 2020:
Beginning 	Ending
Balance 	Additions 	Deletions 	Balance
Governmental Activities:
Cost:
Capital assets not being depreciated
Land 	1,292,633	$ 	-	$ 	-	$ 	1,292,633	$
Construction in progress (1) 	4,695,213 	815,309 	- 	5,510,522
Capital assets
Land improvements 	8,577,290 	262,898 	- 	8,840,188
Buildings 	9,991,121 	75,798 	- 	10,066,919
Machinery and equipment 	10,266,621 	510,513 	(108,051) 	10,669,083
Infrastructure 	44,881,216 	59,130 	- 	44,940,346
Total cost 	79,704,094 	1,723,648 	(108,051) 	81,319,691
Less accumulated depreciation:
Land improvements 	(2,883,180) 	(182,814) 	- 	(3,065,994)
Buildings 	(6,463,694) 	(243,146) 	- 	(6,706,840)
Machinery and equipment 	(7,393,303) 	(525,885) 	108,051 	(7,811,137)
Infrastructure 	(40,857,552) 	(368,423) 	- 	(41,225,975)
Total accumulated depreciation 	(57,597,729) 	(1,320,268) 	108,051 	(58,809,946)
Capital assets, net 	22,106,365	$ 	403,380	$ 	-	$ 	22,509,745	$
Business ‐Type Activities:
Cost:
Capital assets not being depreciated
Land 	504,102	$ 	-	$ 	-	$ 	504,102	$
Construction in progress (1) 	8,595,609 	(7,260,448) 	- 	1,335,161
Capital assets
Land improvements 	4,331,467 	21,655 	- 	4,353,122
Buildings 	43,508,780 	26,149 	- 	43,534,929
Machinery and equipment 	35,825,751 	628,528 	(127,734) 	36,326,545
Pipe 	17,430,842 	8,875,468 	- 	26,306,310
Total cost 	110,196,551 	2,291,352 	(127,734) 	112,360,169
Less accumulated depreciation:
Land improvements 	(2,052,766) 	(73,002) 	- 	(2,125,768)
Buildings 	(34,466,652) 	(758,488) 	- 	(35,225,140)
Machinery and equipment 	(18,537,196) 	(1,465,579) 	127,734 	(19,875,041)
Pipe 	(11,379,686) 	(161,159) 	- 	(11,540,845)
Total accumulated depreciation 	(66,436,300) 	(2,458,228) 	127,734 	(68,766,794)
Capital assets, net 	43,760,251	$ 	166,876)	( $ 	-	$ 	43,593,375	$

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Notes to Financial Statements
51
N OTE 5 	C APITAL ASSETS (C ONTINUED )
Depreciation expense for the year ended December 31, 2020 was charged as follows:
Governmental 	Business‐Type
Activities 	Activities
General government 	79,757	$ 	-	$
Public safety 	415,688 	-
Public services 	630,376 	-
Parks and recreation 	194,447 	-
Water 	- 	769,647
Sewer 	- 	1,537,367
Parking 	- 	135,777
Stormwater 	8,833
Solid Waste 	- 	6,604
1,320,268	$ 	2,458,228	$
(1) Ending construction in process represents the costs incurred through December 31, 2020
for various capital projects.
N OTE 6 	LONG‐TERM LIABILITIES
The changes in long-term liabilities, excluding the OPEB liability, during the year ended
December 31, 2020 were as follows:
Beginning 	Ending 	Current 	Long‐term
Balance 	Additions 	Reductions 	Balance 	Portion 	Portion
Governmental Activities:
Bonds:
(C) 2017A GO Bond 	1,948,338	$ 	-	$ 	(104,531)	$ 	1,843,807	$ 	109,307	$ 	1,734,500	$
(D) 2017B GO Bond 	3,539,133 	- 	(439,429) 	3,099,704 	527,718 	2,571,986
Bond premium 	562,212 	- 	(52,210) 	510,002 	52,210 	457,792
Subtotal - bonds 	6,049,683 	- 	(596,170) 	5,453,513 	689,235 	4,764,278
Direct borrowings:
(B) 2016 GO Note 	360,654 	- 	(60,961) 	299,693 	41,845 	257,848
(E) 2018 GO Note 	2,082,215 	207,891 	- 	2,290,106 	- 	2,290,106
Subtotal - direct borrowings 	2,442,869 	207,891 	(60,961) 	2,589,799 	41,845 	2,547,954
Total bonds and direct borrowings 	8,492,552 	207,891 	(657,131) 	8,043,312 	731,080 	7,312,232
Compensated absences 	774,143 	437,566 	(345,952) 	865,757 	212,676 	653,081
Total long‐term liabilities 	9,266,695	$ 	645,457	$ 	(1,003,083)	$ 	8,909,069	$ 	943,756	$ 	7,965,313	$
The General Fund is used to liquidate the liabilities for debt and compensated absences in the
Governmental Activities.

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B OROUGH OF C ARLISLE
Notes to Financial Statements
52
N OTE 6 	LONG‐TERM LIABILITIES (C ONTINUED)
Beginning 	Ending 	Current 	Long‐term
Balance 	Additions 	Reductions 	Balance 	Portion 	Portion
Business‐Type Activities:
Bonds:
(C) Water 2017A GO Bond 	3,360,500	$ 	-	$ 	(126,865)	$ 	3,233,635	$ 	100,342	$ 	3,133,293	$
(D) Water 2017B GO Bond 	4,592,848 	- 	(427,175) 	4,165,673 	494,783 	3,670,890
(C) Sewer 2017A GO Bond 	3,546,168 	- 	(102,013) 	3,444,155 	106,871 	3,337,284
(D) Sewer 2017B GO Bond 	4,576,793 	- 	(354,410) 	4,222,383 	391,896 	3,830,487
(C) Parking 2017A GO Bond 	201,246 	- 	(12,064) 	189,182 	12,612 	176,570
(D) Parking 2017B GO Bond 	516,226 	- 	(88,985) 	427,241 	110,603 	316,638
(C) Solid Waste 2017A GO Bond 	78,748 	- 	(4,721) 	74,027 	4,935 	69,092
(C) Stormwater 2017A GO Bond 	- 	30,193 	- 	30,193 	933 	29,260
Bond premium 	1,626,902 	- 	(148,265) 	1,478,637 	148,449 	1,330,188
Subtotal - bonds 	18,499,431 	30,193 	(1,264,498) 	17,265,126 	1,371,424 	15,893,702
Direct borrowings:
(B) Water 2016 GO Note 	863,602 	- 	(145,973) 	717,629 	100,198 	617,431
(A) Sewer 2015 GO Note 	4,997,000 	- 	(1,000) 	4,996,000 	1,000 	4,995,000
(B) Sewer 2016 GO Note 	2,820,709 	- 	(476,778) 	2,343,931 	327,268 	2,016,663
(B) Parking 2016 GO Note 	48,855 	- 	(8,258) 	40,597 	5,669 	34,928
(B) Solid Waste 2016 Note 	180 	- 	(30) 	150 	20 	130
Subtotal - direct borrowings 	8,730,346 	- 	(632,039) 	8,098,307 	434,155 	7,664,152
Total bonds and direct borrowings 	27,229,777 	30,193 	(1,896,537) 	25,363,433 	1,805,579 	23,557,854
Compensated absences 	314,914 	259,297 	(228,268) 	345,943 	159,134 	186,809
Total long‐term liabilities 	27,544,691	$ 	289,490	$ 	(2,124,805)	$ 	25,709,376	$ 	1,964,713	$ 	23,744,663	$
(A) 	General Obligation Note Series of 2015 – In May 2015, the Borough authorized a
General Obligation Note in the principal amount of $ 5,000,000 to finance future capital
projects. Annual installments varying from $ 1,000 to $ 647,000 are due beginning
May 15, 2017 through May 15, 2035, with a fixed interest rate of 2.46% from the date of
issuance through May 15, 2035, then 68% of the Wall Street Journal Prime rate with a
cap of 4%.
(B) 	General Obligation Note Series of 2016 – In August 2016, the Borough authorized a
General Obligation Note in the principal amount of $ 7,112,000 to currently refund the
General Obligation Note Series of 2011. Annual installments varying from $ 475,000 to
$ 1,256,000 are due beginning August 15, 2017 through August 15, 2026, with a fixed
interest rate of 1.76%.
(C) 	General Obligation Bond Series of 2017A – In December 2017, the Borough
authorized General Obligation Bonds, Series 2017A in the principal amount of
$ 9,775,000 to finance future capital projects. Annual installments varying from
$ 305,000 to $ 485,000 are due beginning October 15, 2018 through October 15, 2042,
with interest rates between 2.00% and 5.00%. In the event of default, bond holders
have a right to specific performance.
(D) 	General Obligation Bond Series of 2017B – In December 2017, the Borough
authorized General Obligation Bonds, Series 2017B in the principal amount of
$ 14,885,000 to currently refund General Obligation Notes, Series of 2012, 2013, and
2014. Annual installments varying from $ 260,000 to $ 1,735,000 are due beginning
October 15, 2018 through October 15, 2029, with interest rates between 2.00% and
5.00%. In the event of default, bond holders have a right to specific performance.

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B OROUGH OF C ARLISLE
Notes to Financial Statements
53
N OTE 6 	LONG‐TERM LIABILITIES (C ONTINUED)
(E) 	General Obligation Note Series of 2018 – In December 2018, the Borough authorized
General Obligation Note, Series 2018 in the principal amount of $ 5,000,000 to finance
capital projects. Outstanding principal is due and payable on December 1, 2022.
Interest payments at a rate of 3.24% are payable quarterly.
The Borough’s bonds and notes contain provisions that in the event of default, all principal of
bonds and notes outstanding may be declared or may become due and payable upon provisions
provided in the debt agreements.
During 2020 interest expense was incurred as follows:
General fund 	$ 168,314
Capital projects fund 	135,000
Water fund 	253,912
Sewer fund 	408,616
Parking fund
Stormwater fund
25,155
202
Solid waste fund 	2,542
The general obligation bonds and general obligation notes are secured by the full faith, credit,
and taxing power of the Borough.
The following is a schedule, by years and in the aggregate, of future minimum debt principal
and interest payments required at December 31, 2020.
Total
Bonds
Year 	Principal 	Interest 	Principal 	Interest 	Principal 	Interest 	Principal 	Interest
2021 	637,025	$ 	205,607	$ 	41,845	$ 	80,381	$ 	1,222,977	$ 	617,619	$ 	434,156	$ 	177,491	$ 	3,417,101	$
2022 	664,378 	173,755 	2,333,272 	82,107 	1,290,621 	556,470 	447,835 	169,842 	5,718,280
2023 	699,271 	140,536 	43,518 	3,778 	1,360,728 	491,939 	451,482 	161,953 	3,353,205
2024 	509,814 	105,573 	55,764 	3,013 	1,475,187 	423,901 	578,236 	154,000 	3,305,488
2025 	508,109 	80,082 	57,085 	2,031 	1,576,892 	350,144 	591,916 	182,247 	3,348,506
2026 - 2030 	1,407,114 	176,273 	58,315 	1,025 	4,627,884 	966,864 	2,602,682 	852,806 	10,692,963
2031 - 2035 	368,820 	42,318 	- 	- 	1,616,179 	536,532 	2,992,000 	308,720 	5,864,569
2036 - 2040 	103,182 	16,342 	- 	- 	1,811,817 	286,958 	- 	- 	2,218,299
2041 - 2042 	45,798 	2,069 	- 	- 	804,204 	36,331 	- 	- 	888,402
4,943,511	$ 	942,555	$ 	2,589,799	$ 	172,335	$ 	15,786,489	$ 	4,266,758	$ 	8,098,307	$ 	2,007,059	$ 	38,806,813	$
Bonds 	Direct Borrowings
Governmental Activities
Direct Borrowings
Business‐Type Activities

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B OROUGH OF C ARLISLE
Notes to Financial Statements
54
N OTE 7 	DEFINED BENEFIT P ENSION P LANS
Summary of Significant Accounting Policies
Plan Description
The Borough sponsors two single-employer defined benefit retirement plans which cover
Non-Uniformed Employees and Police Officers. Plan provisions are established by
municipal ordinance with the authority for municipal contributions required by Act 205 of
the Commonwealth.
Plan Membership
At December 31, 2020, the participation in each plan is as follows:
Non‐Uniform 	Police
Participants:
Retirees and beneficiaries 	44 	33
Vested former members 	23 	3
Active employees 	66 	32
Total 	133 	68
Benefits Provided
All full-time employees are eligible to participate in the plans. Benefits vest after five years
of service for Non-Uniformed employees and after twelve years of service for Police
Officers. Non-Uniformed Employees are eligible for retirement after attaining age sixty-two.
Eligibility for normal retirement under the Police Officers’ plan is attained at age fifty and
completion of twenty-five years of service. Benefits under the Non-Uniformed plan are
based on 1.4% of average monthly pay times the number of complete years and months of
service. Average monthly pay is based upon the highest five full calendar years of base pay
out of the last ten full calendar years. Benefits under the Police Officers’ pension are based
on 50% of average monthly pay, based upon gross wages for the last thirty-six months of
pay plus a service increment of $ 50 per month upon completion of twenty-six years of
service, $ 100 per month upon completion of twenty-seven years of service, $ 150 per
month upon completion of twenty-eight years of service, or $ 200 per month upon
completion of twenty-nine years of service. The Non-Uniformed Plan and Police Officers’
Plan also include a disability benefit. The Police Officers’ Plan also includes survivor
benefits.
Financial Reports
There are no separate, audited GAAP-basis pension plan reports for the defined benefit
plans, as all necessary information is disclosed herein.
Contributions
The Non-Uniformed Employees plan requires employee contributions of 1.5% and certain
department heads are required to contribute 7.7%. The Police Officers plan requires
employee contributions of 5.0% of pay. The Borough is required to contribute the
remaining amounts necessary to fund the plans, using the actuarial basis specified by the
plan. The employer average contribution rate was 7.85% of annual payroll for the Non-
Uniformed Employees plan and 14.08% of annual payroll for Police Officers plan. The
employer contributions for 2020 were $ 282,811 for the Non-Uniformed plan and $ 403,690
for the Police Officers plan.

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Notes to Financial Statements
55
N OTE 7 	DEFINED BENEFIT P ENSION P LANS (C ONTINUED)
Summary of Significant Accounting Policies (Continued)
Act 205 of the Commonwealth requires that annual contributions be based on the
calculation of the Minimum Municipal Obligation (MMO). The MMO calculation is based on
the biennial actuarial valuation also required by Act 205. Employees are not required to
contribute under Act 205; such contributions are subject to collective bargaining. The
Commonwealth allocates foreign fire and casualty premiums to assist in pension funding.
Any financial requirement above the Commonwealth allocation made must be funded by the
Borough.
Administrative costs, including investment services, custodial trustee and actuarial services
are charged to the appropriate plan and funded from investment earnings.
Investments
Method Used to Value Investments
Investments are reported at fair value. Short term investments are reported at cost, which
approximates fair value. Fair value is determined by quoted market price.
Rate of Return
For the year ended December 31, 2020, the annual money weighted rate of return on
pension investments, net of pension plan investment expense was 16.74% for the Non-
Uniformed Employees plan and 16.75% for the Police Officers plan. The money weighted
rate of return expresses investment performance, net of investment expense, adjusted for
the changing amounts actually invested.
Net Pension Asset, Pension Expense, and Deferred Outflows of Resources and
Deferred Inflows of Resources Related to Pensions
At December 31, 2020 the Borough reported an asset of $ 3,869,913 in the Statement of Net
Position. The net pension asset was measured as of December 31, 2020, and the total
pension liability was determined by rolling forward liabilities from actuarial valuations as
of January 1, 2019. No significant events or changes in assumptions occurred between the
valuation date and the fiscal year end. For the year ended December 31, 2020, the Borough
recognized pension expense of ($ 171,592) for the Non-Uniformed plan and ($ 269,701) for
the Police Officers plan.

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Notes to Financial Statements
56
N OTE 7 	DEFINED BENEFIT P ENSION P LANS (C ONTINUED)
Investments (Continued)
The following details the changes in total pension liability, the plan fiduciary net position,
and the net pension liability, as of December 31, 2020:
Non‐Uniformed Plan
Total Pension
Liability
(a)
Plan
Fiduciary
Net Position
(b)
Net Pension
Liability
(Asset)
(a) ‐ (b)
Plan Fiduciary
Net Position
as a % of
Total Pension
Liability (Asset)
Balances as of December 31, 2019 	12,171,416	$ 	12,438,234	$ 	(266,818)	$ 	102.19%
Changes for the year:
Service cost 	236,478 	- 	236,478
Interest 	913,512 	- 	913,512
Changes in experience 	- 	-
Contributions - employer 	- 	282,811 	(282,811)
Contributions - employee 	- 	57,395 	(57,395)
Net investment income 	- 	2,018,734 	(2,018,734)
Benefit payments, including refunds of
member contributions 	(455,500) 	(455,500) 	-
Administrative expenses 	- 	(13,075) 	13,075
Net Changes 	694,490 	1,890,365 	(1,195,875)
Balances as of December 31, 2020 	12,865,906	$ 	14,328,599	$ 	(1,462,693)	$ 	111.37%
Increase (Decrease)
Police Officers Plan
Total Pension
Liability
(a)
Plan
Fiduciary
Net Position
(b)
Net Pension
Liability
(Asset)
(a)‐(b)
Plan Fiduciary
Net Position
as a % of
Total Pension
Liability (Asset)
Balances as of December 31, 2019 	17,515,486	$ 	18,210,742	$ 	(695,256)	$ 	103.97%
Changes for the year:
Service cost 	450,394 	- 	450,394
Interest 	1,309,457 	- 	1,309,457
Changes in experience 	- 	-
Contributions - employer 	- 	403,690 	(403,690)
Contributions - employee 	- 	165,718 	(165,718)
Net investment income 	- 	2,909,332 	(2,909,332)
Benefit payments, including refunds of
member contributions 	(1,012,879) 	(1,012,879) 	-
Administrative expenses 	- 	(6,925) 	6,925
Net Changes 	746,972 	2,458,936 	(1,711,964)
Balances as of December 31, 2020 	18,262,458	$ 	20,669,678	$ 	(2,407,220)	$ 	113.18%
Increase (Decrease)

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Notes to Financial Statements
57
N OTE 7 	DEFINED BENEFIT P ENSION P LANS (C ONTINUED)
Investments (Continued)
At December 31, 2020, the Borough reported deferred outflows of resources and deferred
inflows of resources related to pensions from the following sources:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Differences between expected
and actual experience 5,231	$ 	252,847	$ 	197,117	$ 	556,691	$ 	202,348	$ 	809,538	$
Changes of assumptions 	52,623 	- 	- 	110,256 	52,623 	110,256
Change in proportions -
governmental activities/
business-type activities 	18,302 	18,302 	- 	- 	18,302 	18,302
Net difference between projected
and actual earnings on pension
plan investments 	- 	1,210,373 	- 	1,745,411 	- 	2,955,784
76,156	$ 	1,481,522	$ 	197,117	$ 	2,412,358	$ 	273,273	$ 	3,893,880	$
Non‐Uniformed 	Police 	Total
The amounts reported as deferred outflows of resources will be recognized in pension
expense as follows:
Year Ended December 31:
2021 	(375,641)	$ 	(564,179)	$ 	(939,820)	$
2022 	(233,029) 	(339,862) 	(572,891)
2023 	(525,694) 	(776,439) 	(1,302,133)
2024 	(244,571) 	(423,422) 	(667,993)
2025 	(26,431) 	(111,339) 	(137,770)
(1,405,366)	$ 	(2,215,241)	$ 	(3,620,607)	$
Non‐Uniformed 	Police 	Total
Actuarial Methods and Assumptions
The total pension liability in the January 1, 2019 actuarial valuation was determined using the
following economic assumptions, applied to all periods included in the measurement:
Non‐Uniform 	Police
Inflation 	3.00% 	3.00%
Salary increases (average, including inflation) 	4.50% 	5.00%
Investment rate of return (including inflation) 	7.50% 	7.50%
Postretirement cost of living increases 	None 	None
Changes in Actuarial Assumptions
There were no changes in actuarial assumptions since the last actuarial valuation.

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Notes to Financial Statements
58
N OTE 7 	DEFINED BENEFIT P ENSION P LANS (C ONTINUED)
Actuarial Methods and Assumptions (Continued)
Valuation Date
Actuarially determined contribution rates are calculated as of January 1, two to four years
prior to the end of the fiscal year in which the contributions are reported.
The actuarial assumptions used in the January 1, 2019 valuation were based on actual
experience study for the period January 1, 2017 through December 31, 2018.
Long‐Term Expected Rate of Return
The long-term expected rate of return on pension plan investments was determined using a
building-block method in which best-estimate ranges of expected future real rates of return
(expected returns, net of pension plan investment expense and inflation) are developed for
each major asset class. These ranges are combined to produce long-term expected rate of
return by weighting the expected future real rates of return by the target asset allocation
percentage and by adding the expected inflation. The pension plans' policy in regard to the
allocation of invested assets is established and may be amended by the investment
committee. Best estimates of arithmetic real rates of return for each major asset class
included in the pension plans' target asset allocation as of December 31, 2020 are
summarized in the following table for both pension plans:
Long‐term Expected
Asset Class 	Target Allocation 	Real Rate of Return
Domestic equity 	39.00% 	5.50% - 7.50%
International equity 	17.00% 	4.50% - 6.50%
Fixed income 	6.00% 	1.00% - 3.00%
Real estate 	38.00% 	4.50% - 6.50%
Discount Rate
The discount rate used to measure the total pension liability was 7.50% for both pension
plans. The pension plan’s fiduciary net position is projected to be available to make all
projected future benefit payments of current active and inactive employees. Therefore, the
long-term expected rate of return on pension plan investments was applied to all periods of
projected benefit payments to determine the total pension liability. The employer has
always met the funding requirements of Pennsylvania law Act 205 of 1984. Act 205
requires full funding of the entry age normal cost plus plan expenses, as well as
amortization of the unfunded liability.

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Notes to Financial Statements
59
N OTE 7 	DEFINED BENEFIT P ENSION P LANS (C ONTINUED)
Actuarial Methods and Assumptions (Continued)
Sensitivity of the Net Pension (Asset) Liability to Changes to the Discount Rate
The following presents the net pension (asset) liability of the plans, calculated using the
discount rate of 7.50%, as well as what the Borough’s net pension (asset) liability would be
if it were calculated using a discount rate that is 1 percentage point lower (6.50 percent)
and 1 percentage point higher (8.50 percent) than the current rate:
1% Decrease
(6.50%)
Current
Discount Rate
(7.50%)
1% Increase
(8.50%)
Non-Uniform Net Pension Liability 	$ 	(67,122) $ 	(1,462,693) $ 	(2,652,838)
Police Officers’ Net Pension Liability 	(320,729) 	(2,407,220) 	(4,163,157)
Payables to the Pension Plan
As of December 31, 2020, the Borough had no payables to the pension plan.
Financial Statements
The following provides detailed financial statements as of and for the year ended December 31,
2020 for the individual pension plans maintained by the Borough:
Combining Statement of Fiduciary Net Position
Police Pension
Trust Fund
Non‐Uniformed
Pension Trust
Fund
Total Pension
Trust Funds
ASSETS
Cash and cash equivalents 	501,262	$ 	330,287	$ 	831,549	$
Accrued interest receivable 	6 	5 	11
Fixed income mutual funds 	6,937,184 	4,824,782 	11,761,966
Mutual funds - open end 	13,231,226 	9,173,525 	22,404,751
Total assets 	20,669,678	$ 	14,328,599	$ 	34,998,277	$
NET POSITION
Net position restricted for pensions 	20,669,678 	14,328,599 	34,998,277
Total net position 20,669,678	$ 	14,328,599	$ 	34,998,277	$

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Notes to Financial Statements
60
N OTE 7 	DEFINED BENEFIT P ENSION P LANS (C ONTINUED)
Financial Statements (Continued)
Combining Statement of Changes in Fiduciary Net Position
Police Pension
Trust Fund
Non‐Uniformed
Pension Trust
Fund
Total Pension
Trust Funds
ADDITIONS
Contributions
Employer 	403,690	$ 	282,811	$ 	686,501	$
Plan members 	165,718 	57,395 	223,113
Total contributions 	569,408 	340,206 	909,614
Investment earnings
Net change in fair value of investments 	2,603,089 	1,808,258 	4,411,347
Interest and dividends 	375,925 	258,674 	634,599
Investment activity expense 	(48,919) 	(33,596) 	(82,515)
Total net investment earnings 	2,930,095 	2,033,336 	4,963,431
Total net additions 	3,499,503 	2,373,542 	5,873,045
DEDUCTIONS
Benefits 	1,012,879 	455,500 	1,468,379
Administrative 	27,688 	27,677 	55,365
Total deductions 	1,040,567 	483,177 	1,523,744
Change in net position 	2,458,936 	1,890,365 	4,349,301
Net position - beginning 	18,210,742 	12,438,234 	30,648,976
Net position - ending 	20,669,678	$ 	14,328,599	$ 	34,998,277	$
N OTE 8 	DEFINED C ONTRIBUTION P ENSION P LANS
The Borough has a 401(a) Qualified Plan for management personnel and a 457(g) Qualified Plan
with the International City/County Management Association Retirement Corporation (ICMA-
RC) for select employees. These defined contribution plans require the Borough to contribute
6% and 2%, respectively, of wages for each participating employee into the plan. Total
employer contributions for 2020 were $ 34,151.

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Notes to Financial Statements
61
N OTE 9 	P OSTEMPLOYMENT H EALTHCARE P LAN
Plan Description
The Borough has a healthcare plan for retired police employees, which is a single employer
defined benefit healthcare plan administered by the Borough. The plan provides medical and
prescription drug coverage for the retiree and spouse for 18 months. Officers who retire with a
minimum age of 50 and have at least 25 years of service (including military buy back time) may
elect to be covered by the Borough’s health care program. Seventy-five (75%) percent of the
cost will be paid by the Borough and twenty-five (25%) percent by the retired officer. An early
retirement benefit is provided to a member with 20 or more years of service who terminates
employment prior to completion of superannuation retirement age and service requirements
and who files a written application for the early retirement benefit with Borough Council.
These officers are entitled to participate in the health care plan program where the Borough
pays 25% and the officer pays 75% of the premium cost until the retiree reaches age 65 or
becomes eligible for Medicare. Health care coverage is defined herein as medical coverage only
and does not include vision, dental or any other non-medical insurance coverage. Only those
officers hired prior to January 1, 2004, will be eligible for this benefit. The Borough shall
provide prospectively to any Police Officer who retired during the period January 2, 2004
through June 30, 2007, and who reaches the age of 65, Blue Cross/Blue Shield or equivalent
coverage. Seventy-five (75%) percent of the monthly premium cost will be paid by the Borough
and twenty-five (25%) percent by the retired Police Officer. This provision shall not apply to
any retirement on or after July 1, 2007.
Funding Policy
The contribution requirements of plan members and the Borough are established and may be
amended by the Borough. The required contribution is based on projected pay-as-you-go
financing requirements, with an additional amount to prefund benefits as determined annually
by the Borough.
No assets are accumulated in a trust that meets the criteria of GASB standards.
Plan Membership
Membership of each plan consisted of the following at January 1, 2020, the date of the latest
actuarial valuation:
Active participants 	8
Vested former participants 	8
Retired participants 	11
Total 	27
OPEB Liabilities, OPEB Expense, Deferred Outflows of Resources and Deferred
Inflows of Resources Related to OPEB
The total OPEB liability was measured as of January 1, 2020 and was based on an actuarial
valuation as of January 1, 2020. The plan has no assets that are accumulated in a trust that
meets the criteria established in GASB Statement No. 75. At December 31, 2020, the Borough
reported a total OPEB liability of $ 1,559,514.
For the year ended December 31, 2020, the Borough recognized OPEB expense of $ 200,941.

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Notes to Financial Statements
62
N OTE 9 	P OSTEMPLOYMENT H EALTHCARE P LAN (C ONTINUED)
Changes in the Total OPEB Liability
Liability
Beginning Balance 	1,407,120	$
Changes for the year:
Service cost 	21,545
Interest 	50,543
Differences between expected
and actual experience 	107,495
Changes in assumptions 	46,884
Benefit payments 	(74,073)
Net changes 	152,394
Ending Balance 	1,559,514	$
At December 31, 2020, the Borough reported deferred outflows of resources and deferred
inflows of resources related to OPEB from the following sources:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Benefit payments/contributions subsequent
to the measurement date 78,490	$ 	-	$
The amount of $ 78,490 is reported as deferred outflows of resources related to OPEB resulting
from Borough contributions/benefit payments subsequent to the measurement date and will be
recognized as a reduction in the total OPEB liability in the year ended December 31, 2021.

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Notes to Financial Statements
63
N OTE 9 	P OSTEMPLOYMENT H EALTHCARE P LAN (C ONTINUED)
Actuarial Methods and Assumptions
The total OPEB liability was determined by an actuarial valuation as of January 1, 2020, using
the following actuarial assumptions, applied to all periods included in the measurement, unless
otherwise specified.
Actuarial Cost Method: 	Entry age normal
Investment Rate of Return: 	3.26%
Salary Increases: 	An assumption for salary increase is used for
spreading contributions over future pay under the
entry age normal cost method. For this purpose,
salary increases are assumed to be 5.00%
Mortality: 	The actuarial valuation utilizes the IRS 2017 Static
Combined Table for Small Plans. Incorporated into
the table are rates for annuitants are projected 7
years and rates for non-annuitants are projected 15
years using Scale AA to reflect mortality
improvement.
Percentage of Eligible Employees
Electing Coverage in Plan:
50.00% of eligible employees are assumed to elect
coverage.
Health Care Cost Trend Rate: 	5.50% in 2019 through 2023. Rates gradually
decrease from 5.4% in 2024 to 4.0% in 2075 and
later based on the Society of Actuaries Long-Run
Medical Cost Trend Model.
Per Capita Claims Cost: 	The per capita claims cost for medical and
prescription drug is based on the expected portion
of the group’s overall cost attributed to individuals
in the specified age and gender brackets. The
resulting costs are as follows:
Age 45-49, $ 7,782 for males and $ 11,238 for
females; 50-54, $ 10,306 for males and $ 12,701 for
females; 55-59, $ 12,552 for males and $ 13,290 for
females; 60-64, $ 16,380 for males and $ 15,267 for
females; 65+, $ 4,143 for males and $ 4,143 for
females.
Discount Rate
The discount rate used to measure the total OPEB liability was 3.26%. The Plan is not funded,
therefore, the S&P 20-year municipal bond rate of 3.26% as of January 1, 2020 is the applicable
discount rate.

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Notes to Financial Statements
64
N OTE 9 	P OSTEMPLOYMENT H EALTHCARE P LAN (C ONTINUED)
Sensitivity of the Total OPEB Liability to Changes in the Discount Rate
The following presents the total liability of the Borough, as well as what the Borough’s liability
would be if it were calculated using a discount rate that is one percentage point lower or one
percentage point higher than the current discount rate.
1% Decrease
Current
Discount Rate 	1% Increase
2.26% 	3.26% 	4.26%
Total OPEB liability 	1,676,579	$ 	1,559,514	$ 	1,454,894	$
Sensitivity of the Total OPEB Liability to Changes in the Healthcare Cost Trend Rate
The following presents the total OPEB liability of the Borough, as well as what the plan’s total
OPEB liability would be if it were calculated using the healthcare cost trend rate that is one
percentage point lower or one percentage point higher than the current healthcare cost trend
rates.
Total OPEB liability 	1,449,305	$ 	1,559,514	$ 	1,681,194	$
1% Decrease
(4.5%
decreasing to
3.0%)
Healthcare
Cost Trend
Rate (5.5%
decreasing
to 4.0%)
1% Increase
(6.5%
decreasing to
5.0%)
Payables to the OPEB Plan
As of December 31, 2020, the Borough had no amounts payable to the Plan.
N OTE 10 	RISK MANAGEMENT
The Borough's risk management activities are recorded in the General Fund, which administers
auto liability, auto physical damage, general liability, law enforcement liability, public official,
and real and personal property insurance programs of the Borough. The Borough pays the first
$ 1,000 of claims annually for each type of insurance. Significant losses (greater than $ 1,000)
are covered by commercial insurance. For insured programs, there have been no significant
reductions in insurance coverage. Management believes such coverage is sufficient to preclude
any significant uninsured losses to the Borough. Settlement amounts have not exceeded
insurance coverage for the current year or the three prior years.
The Borough is part of the Pennsylvania Municipal Health Insurance Cooperative (PMHIC). This
trust consists of a group of municipalities that have pooled their interests in order to establish a
self-funded insurance plan in order to better control insurance rates. The Borough pays a
premium to PHMIC that consists of a portion for actual claim expenses, administrative costs,
reinsurance costs and a reserve account. At year end, the actual claims of the Borough are
reviewed and the reserve account is used to fund any excess claims for the Borough over
premiums paid during the year. If any funds remain in the reserve account, 30% of the total

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Notes to Financial Statements
65
N OTE 10 	RISK MANAGEMENT (C ONTINUED)
reserve balance could possibly be used to fund claim overages for the trust. A reinsurance
policy is used to pay any additional excess claims. Therefore, the expense reported by the
Borough is limited to the premiums paid during the year. Any potential refund of the reserve
account is calculated and received by the Borough several months after year end. Total
payments by the Borough to PHMIC during 2020 were $ 2,232,059. During 2020, the Borough
did not receive a refund from PMHIC for prior premiums paid.
N OTE 11 	GOVERNMENTAL FUNDS – FUND BALANCE
The following table provides detail of the fund balance classifications which are aggregated on
the governmental funds balance sheet:
Asset 	Total
General 	Capital Projects Highway Aid 	Forfeiture 	Governmental
Fund 	Fund 	Fund 	Fund 	Funds
FUND BALANCES
Nonspendable:
Inventories 	84,842	$ 	-	$ 	-	$ 	-	$ 	84,842	$
Prepaid items 	138,156 	- 	- 	- 	138,156
Long term receivables 	200,000 	- 	- 	- 	200,000
422,998 	- 	- 	- 	422,998
Restricted for:
LLEBG grant 	3,087 	- 	- 	- 	3,087
300th Celebration 	882 	- 	- 	- 	882
Fireworks 	1,569 	- 	- 	- 	1,569
Future capital projects 	- 	1,159,094 	- 	- 	1,159,094
Letort Park project 	13,637 	- 	- 	- 	13,637
Highway department 	- 	- 	1,286,004 	- 	1,286,004
Asset Forfeiture/future police 	- 	- 	- 	28,147 	28,147
19,175 	1,159,094 	1,286,004 	28,147 	2,492,420
Committed for:
Recreation 	98,344 	- 	- 	- 	98,344
Other post-employment benefit plan 	500,000 	- 	- 	- 	500,000
598,344 	- 	- 	- 	598,344
Assigned for:
Comprehensive plan 	43,550 	- 	- 	- 	43,550
Subsequent year budget deficit 	630,113 	630,113
Future employee benefit expenditures 	360,663 	- 	- 	- 	360,663
1,034,326 	- 	- 	- 	1,034,326
Unassigned fund balance 	7,783,269 	- 	- 	- 	7,783,269
Total fund balances 	9,858,112	$ 	1,159,094	$ 	1,286,004	$ 	28,147	$ 	12,331,357	$

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Notes to Financial Statements
66
N OTE 12 	LEASE INCOME
The Borough has various operating leases, including the rental of the Community Center and
numerous cell tower leases. The terms of the leases vary from two years to twenty years.
Future minimum lease rentals under these leases by fiscal year for the next five years are as
follows:
2021 	173,050	$
2022 	179,198
2023 	185,097
2024 	72,652
2025 	48,507
658,504	$
Rental income for the year ended December 31, 2020 was $ 169,876.
N OTE 13 	LOANS R ECEIVABLE
The Borough has entered into a loan receivable with a local limited partnership in the amount
of $ 200,000. The payment on this receivable is deferred for 30 years after placement in service
of the project, but no later than December 31, 2036. This is a non-interest-bearing loan.
Management expects this loan to be paid within the specified payment period, thus no
allowance has been established.
N OTE 14 	C OMMITMENTS
The Borough has the following significant commitments for open projects at December 31, 2020,
which excludes any completed projects that have not yet been placed in service and still
considered construction in progress:
Costs Incurred
Commitment 	as of 12/31/20
Sewer system rehabilitation program 	1,029,620	$ 	647,248	$
Urban redevelopment plan 	8,145,894 	5,932,134

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Notes to Financial Statements
67
N OTE 15 	C ONTINGENCIES
The Borough is subject to real estate tax assessment appeals on an ongoing basis. If tax appeals
are successful, the result is a loss of tax revenue to the Borough. It is anticipated that any
material loss of tax revenue on individual tax appeals will be offset with additional revenues
from other properties or other sources of revenue and would not create a financial hardship to
the Borough.
The Borough is involved with various lawsuits in the normal course of operations. In most
cases, management cannot predict the outcome of the lawsuits or estimate the amount of any
loss that may result. Management believes that losses resulting from these matters, if any,
would be substantially covered under the Borough's professional liability insurance policy and
would not have a material effect on the financial position of the Borough.
N OTE 16 	T AX INCREMENT F INANCING AGREEMENT – C ARLISLE AUTO I NDUSTRIES , INC .
On October 25, 2017, the Borough entered a Tax Increment Financing (TIF) Agreement with the
County of Cumberland, Carlisle Area School District, and collectively with the Cumberland
County Industrial Development Authority and Carlisle Auto Industries, Inc. for twenty years
expiring July 15, 2037.
Under the authority of the Pennsylvania Tax Increment Financing Act, the local taxing body (the
Borough) is to rebate a portion of the tax collection to the Cumberland County Industrial
Development Authority to undertake infrastructure improvements to provide substantial
additional commercial and residential opportunities in the downtown Carlisle area. Proceeds
from the TIF may be used for a variety of public improvements including transportation
infrastructure, sewer and water infrastructure, and electric and other infrastructure related
improvements as necessary. The TIF is being used as a strategy to enhance the density and
quality of development at the Carlisle Auto Industries, Inc. site.
Full aggregate assessed value of all taxable real property located within the TIF district as of the
effective date of creation is $ 1,197,200. Since inception, the taxable assessed value of the TIF
District has increased to $ 12,023,000 (an increase of $ 10,825,800).
The Borough has allocated one hundred percent (100%) of the incremental increase in revenue
above the base assessment on the real estate taxes assessed on the TIF district properties for
each year within the agreement.
While the improvements to the TIF district have not yet been completed, the district is planned
to include retail space, a hotel, townhomes, mid-rise apartments, an office building, restaurants,
and parking.
Annually, the developers will pay assessed property taxes on all taxable properties within the
TIF District with pledged amounts contributed by the Borough and other TIF parties deposited
into the TIF Escrow Fund held by the Cumberland County Industrial Development Authority, to
be used in payment or trust for Obligations associated with project expenses.

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B OROUGH OF C ARLISLE
Notes to Financial Statements
68
N OTE 16 	T AX INCREMENT F INANCING AGREEMENT – C ARLISLE AUTO I NDUSTRIES , INC . (C ONTINUED )
The debt related to the TIF project was issued by Cumberland County Industrial Development
Authority in the amount of $ 7,930,000 in the form of a limited guaranteed revenue note, Series
of 2017. The note matures annually through July 15, 2037 with semi-annual interest payments.
The Borough has agreed to guarantee the first five years of debt service for this note under laws
of the Commonwealth of Pennsylvania. In the unlikely event of default by the issuer, the
maximum amount of the Borough’s guarantee would be $ 1,335,232.
Initial project costs of $ 1,882,539 have been reimbursed through the debt noted above. Total
expense incurred related to this project at December 31, 2020 is $ 5,505,898. The Borough
issued the 2018 GO Note to temporarily finance the expenses that have not yet been
reimbursed. The Borough refinanced the 2018 GO Note in 2021 due to the delay in issuing
additional TIF Project related debt. The project will continue to be evaluated to determine if and
when the Cumberland County Industrial Development Authority will have the ability to issue
additional TIF project related debt to reimburse the Borough for its expenses. Project expenses
are also being funded with a combination of federal and commonwealth grants as well as
through the use of Borough funds.
N OTE 17 	RISKS AND U NCERTAINTIES
The COVID-19 outbreak in the United States and around the world has caused business
disruption through mandated and voluntary closings of many business throughout our
community. While the disruption is currently expected to be temporary, there is considerable
uncertainty around the duration and extent of the economic impact. Therefore, it is reasonable
to expect that some of the Borough’s revenue sources derived from various tax revenues and
the ability of the customers to pay for services provided could be impacted.
N OTE 18 	S UBSEQUENT E VENT
On July 16, 2021, the Borough issued General Obligation Bonds, Series of 2021 in the amount
of $ 22,435,000 for the purpose of paying for new projects, currently refunding the Borough’s
General Obligation Note, Series of 2015, General Obligation Note, Series of 2016, and General
Obligation Note, Series of 2018, and to pay for the cost of issuance for the Bonds.

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R EQUIRED SUPPLEMENTARY INFORMATION

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B OROUGH OF C ARLISLE
Pension Plans
Unaudited Schedule of Changes in the Borough’s Net Pension Liability (Asset) and Related Ratios
69
2020 	2019 	2018 	2017 	2016 	2015 	2014 	2020 	2019 	2018 	2017 	2016 	2015 	2014
Total pension liability
Service cost 	236,478	$ 	226,295	$ 	202,066	$ 	193,365	$ 	221,719	$ 	212,171	$ 	245,209	$ 	450,394	$ 	428,947	$ 	407,860	$ 	388,438	$ 	417,934	$ 	396,146	$ 	320,436	$
Interest 	913,512 	864,390 	829,890 	782,728 	747,909 	700,526 	648,774 	1,309,457 	1,257,693 	1,264,179 	1,214,652 	1,153,982 	1,104,822 	1,055,036
Differences in expected and actual experience 	- 	(185,048) 	- 	(281,563) 	- 	36,620 	- 	- 	(779,367) 	- 	457,135 	- 	8,417 	-
Changes in benefit terms 	- 	- 	- 	- 	- 	58,558 	- 	- 	- 	- 	- 	- 	- 	-
Changes in assumptions 	- 	- 	- 	122,786 	- 	- 	- 	- 	- 	- 	(257,263) 	- 	- 	-
Benefit payments, including refunds of
member contributions 	(455,500) 	(436,360) 	(385,893) 	(326,055) 	(310,433) 	(270,515) 	(261,668) 	(1,012,879) 	(1,022,894) 	(977,594) 	(946,702) 	(920,018) 	(814,561) 	(777,007)
Net change in total pension liability 	694,490 	469,277 	646,063 	491,261 	659,195 	737,360 	632,315 	746,972 	(115,621) 	694,445 	856,260 	651,898 	694,824 	598,465
Total pension liability - beginning 	12,171,416 	11,702,139 	11,056,076 	10,564,815 	9,905,620 	9,168,260 	8,535,945 	17,515,486 	17,631,107 	16,936,662 	16,080,402 	15,428,504 	14,733,680 	14,135,215
Total pension liability - ending 	12,865,906 	12,171,416 	11,702,139 	11,056,076 	10,564,815 	9,905,620 	9,168,260 	18,262,458 	17,515,486 	17,631,107 	16,936,662 	16,080,402 	15,428,504 	14,733,680
Plan fiduciary net position
Contributions - employer 	282,811 	254,721 	259,111 	215,584 	236,956 	252,045 	257,595 	403,690 	448,037 	392,019 	364,883 	366,745 	375,632 	364,683
Contributions - employee 	57,395 	53,994 	57,156 	57,910 	60,567 	63,430 	64,246 	165,718 	127,006 	159,228 	131,528 	123,465 	156,131 	143,458
Net investment income 	2,018,734 	2,074,659 	(625,633) 	1,471,724 	561,253 	50,483 	428,727 	2,909,332 	3,061,210 	(926,458) 	2,248,707 	877,246 	88,359 	703,663
Benefit payments, including refunds of
member contributions 	(455,500) 	(436,360) 	(385,893) 	(326,055) 	(310,433) 	(270,515) 	(261,668) 	(1,012,879) 	(1,022,894) 	(977,594) 	(946,702) 	(920,018) 	(814,561) 	(777,007)
Administrative expenses 	(13,075) 	(10,750) 	(13,625) 	(2,650) 	(12,265) 	(8,250) 	(6,750) 	(6,925) 	(9,225) 	(12,300) 	- 	(15,925) 	(10,425) 	(6,825)
Other 	- 	- 	- 	- 	- 	- 	- 	- 	- 	- 	- 	- 	- 	-
Net change in plan fiduciary net position 	1,890,365 	1,936,264 	(708,884) 	1,416,513 	536,078 	87,193 	482,150 	2,458,936 	2,604,134 	(1,365,105) 	1,798,416 	431,513 	(204,864) 	427,972
Plan fiduciary net position - beginning 	12,438,234 	10,501,970 	11,210,854 	9,794,341 	9,258,263 	9,171,070 	8,688,920 	18,210,742 	15,606,608 	16,971,713 	15,173,297 	14,741,784 	14,946,648 	14,518,676
Plan fiduciary net position - ending 	14,328,599	$ 	12,438,234	$ 	10,501,970	$ 	11,210,854	$ 	9,794,341	$ 	9,258,263	$ 	9,171,070	$ 	20,669,678	$ 	18,210,742	$ 	15,606,608	$ 	16,971,713	$ 	15,173,297	$ 	14,741,784	$ 	14,946,648	$
Borough's net pension liability (asset) 	(1,462,693)	$ 	(266,818)	$ 	1,200,169	$ 	(154,778)	$ 	770,474	$ 	647,357	$ 	(2,810)	$ 	(2,407,220)	$ 	(695,256)	$ 	2,024,499	$ 	(35,051)	$ 	907,105	$ 	686,720	$ 	(212,968)	$
Plan fiduciary net position as a percentage of the
total pension liability 	111.37% 	102.19% 	89.74% 	101.40% 	92.71% 	93.46% 	100.03% 	113.18% 	103.97% 	88.52% 	100.21% 	94.36% 	95.55% 	101.45%
Covered payroll 	3,602,427	$ 	3,849,872	$ 	3,991,042	$ 	3,811,473	$ 	3,761,742	$ 	3,523,157	$ 	3,946,610	$ 	2,867,259	$ 	2,781,827	$ 	2,665,022	$ 	2,690,098	$ 	2,314,077	$ 	2,456,952	$ 	2,388,137	$
Net pension liability (asset) as a percentage of
covered payroll 	(40.60%) 	(6.93%) 	30.07% 	(4.06%) 	20.48% 	18.37% 	(0.07%) 	(83.96%) 	(24.99%) 	75.97% 	(1.30%) 	39.20% 	27.95% 	(8.92%)
NOTE
This schedule will be expanded to show multi-year trends as additional information becomes available in the future.
Non‐Uniform 	Police

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B OROUGH OF C ARLISLE
Pension Plans
Unaudited Schedule of Borough Contributions
70
Non‐Uniform
2020 	2019 	2018 	2017 	2016 	2015 	2014 	2013 	2012 	2011
Actuarially determined contribution 	268,742	$ 	226,455	$ 	210,859	$ 	190,889	$ 	213,605	$ 	252,045	$ 	257,490	$ 	263,093	$ 	328,646	$ 	291,611	$
Contributions in relation to the actuarially
determined contribution 	282,811 	254,721 	259,111 	215,584 	236,956 	252,045 	257,595 	263,093 	328,646 	314,327
Contribution deficiency (excess) 	(14,069)	$ 	(28,266)	$ 	(48,252)	$ 	(24,695)	$ 	(23,351)	$ 	-	$ 	(105)	$ 	-	$ 	-	$ 	(22,716)	$
Covered payroll 	3,602,427	$ 	3,849,872	$ 	3,991,042	$ 	3,811,473	$ 	3,761,742	$ 	3,523,157	$ 	3,946,610	$ 	3,820,912	$ 	3,867,737	$ 	3,862,585	$
Contributions as a percentage of covered
payroll 	7.85% 	6.62% 	6.49% 	5.66% 	6.30% 	7.15% 	6.53% 	6.89% 	8.50% 	8.14%
Police
2020 	2019 	2018 	2017 	2016 	2015 	2014 	2013 	2012 	2011
Actuarially determined contribution 	373,775	$ 	398,320	$ 	307,231	$ 	323,086	$ 	330,063	$ 	375,632	$ 	363,969	$ 	402,029	$ 	399,045	$ 	509,211	$
Contributions in relation to the actuarially
determined contribution 	403,690 	448,037 	392,019 	364,883 	366,745 	375,632 	364,683 	402,029 	399,045 	509,212
Contribution deficiency (excess) 	(29,915)	$ 	(49,717)	$ 	(84,788)	$ 	(41,797)	$ 	(36,682)	$ 	-	$ 	(714)	$ 	-	$ 	-	$ 	(1)	$
Covered payroll 	2,867,259	$ 	2,781,827	$ 	2,665,022	$ 	2,690,098	$ 	2,314,077	$ 	2,456,952	$ 	2,388,137	$ 	2,268,154	$ 	2,169,400	$ 	2,422,422	$
Contributions as a percentage of covered
payroll 	14.08% 	16.11% 	14.71% 	13.56% 	15.85% 	15.29% 	15.27% 	17.72% 	18.39% 	21.02%
NOTES TO SCHEDULE
Valuation date:
Actuarially determined contribution rates are calculated as of January 1, two to four years prior to the end of the fiscal year on which the contributions are reported.
Methods and assumptions used to determine contribution rates, including changes in actuarial assumptions:
Actuarial cost method 	Entry age normal
Amortization method 	Level dollar closed
Amortization period 	Non-Uniform - 5 years
Police - 10 years
Asset valuation method 	Smoothed value with a corridor of 80% to 120% of market value
Inflation 	3.0%
Salary increases 	Non-Uniform - 4.5%
Police - 5.0%
Investment rate of return 	7.5%
Retirement age 	Normal retirement age
Mortality 	IRS 2017 Static Combined Table for Small Plans. Incorporated into the table are rates for annuitants projected 7 years and rates for non-
projected 15 years using Scale AA to reflect mortality improvements.

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B OROUGH OF C ARLISLE
Pension Plans
Unaudited Schedule of Investment Returns
71
2020 	2019 	2018 	2017 	2016 	2015 	2014 	2020 	2019 	2018 	2017 	2016 	2015 	2014
Annual money-weighted rate of return,
net of investment expense 	16.74% 	19.89% 	-5.23% 	15.65% 	5.99% 	0.46% 	5.45% 	16.75% 	19.91% 	-5.16% 	15.67% 	5.99% 	0.53% 	5.42%
NOTE
This schedule will be expanded to show multi-year trends as additional information becomes available in the future.
Non‐Uniform 	Police

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B OROUGH OF C ARLISLE
OPEB (Other Post‐Employment Benefit Plan)
Schedule of Changes in the Borough’s Total OPEB Liability and Related Ratios
72
2020 	2019 	2018
Total OPEB liability
Service cost 	21,545	$ 	22,303	$ 	19,401	$
Interest 	50,543 	45,782 	51,742
Differences between expected and actual experience 	107,495 	- 	-
Changes in assumptions 	46,884 	(51,052) 	57,484
Benefit payments 	(74,073) 	(79,448) 	(74,951)
Net change in total OPEB liability 	152,394 	(62,415) 	53,676
Total OPEB liability - beginning 	1,407,120 	1,469,535 	1,415,859
Total OPEB liability - ending 	1,559,514	$ 	1,407,120	$ 	1,469,535	$
$ 	838,427 	$ 	948,429 	906,549	$
186.00% 	148.36% 	162.10%
Covered payroll
Total OPEB liability as a percentage of covered payroll
NOTE
This schedule will be expanded to show multi-year trends as additional information becomes available in the
future.

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B OROUGH OF C ARLISLE
Budgetary Comparison Schedule – General Fund
Unaudited Required Supplementary Information
Year Ended December 31, 2020
73
Variance with
Original 	Final 	Actual 	Final Budget
REVENUES
Taxes 	8,330,881	$ 	8,330,881	$ 	8,459,799	$ 	128,918	$
Licenses and permits 	650,350 	650,350 	447,615 	(202,735)
Fees and fines 	108,500 	108,500 	84,150 	(24,350)
Investment earnings 	97,500 	97,500 	76,069 	(21,431)
Rents 	67,300 	67,300 	63,102 	(4,198)
Intergovernmental 	836,857 	836,857 	1,010,299 	173,442
Charges for services 	322,155 	322,155 	73,246 	(248,909)
Contributions and miscellaneous 	284,533 	284,533 	262,653 	(21,880)
Proceeds from refunds/reimbursements 	200,000 	200,000 	210,477 	10,477
Total revenues 	10,898,076 	10,898,076 	10,687,410 	(210,666)
EXPENDITURES
General government
Borough council 	164,707 	164,707 	31,042 	133,665
Borough manager 	439,936 	439,936 	107,237 	332,699
Finance department 	503,478 	503,478 	134,163 	369,315
Tax collection 	124,249 	124,249 	128,492 	(4,243)
Personnel administration 	129,640 	129,640 	49,347 	80,293
Data processing 	262,225 	262,225 	65,832 	196,393
Legal services 	135,000 	135,000 	28,338 	106,662
Insurance premiums 	320,340 	320,340 	261,211 	59,129
Employee benefits (unallocated) 	711,057 	711,057 	580,148 	130,909
Buildings and plants 	79,025 	79,025 	2,633 	76,392
Public safety
Police department 	4,516,690 	4,516,690 	4,254,963 	261,727
Fire department 	1,096,655 	1,096,655 	1,105,632 	(8,977)
Codes department 	480,933 	480,933 	386,727 	94,206
Public works
Stormwater 	34,864 	34,864 	28,267 	6,597
Highways 	1,372,327 	1,372,327 	917,137 	455,190
Engineering 	464,059 	464,059 	118,784 	345,275
Parks and recreation 	1,040,421 	1,040,421 	747,442 	292,979
Conservation and community development 	116,143 	116,143 	80,123 	36,020
Debt service
Principal 	500,390 	500,390 	500,390 	-
Interest and fiscal charges 	168,314 	168,314 	168,314 	-
Total expenditures 	12,660,453 	12,660,453 	9,696,222 	2,964,231
Excess (deficiency) of revenues over
(under) expenditures 	(1,762,377) 	(1,762,377) 	991,188 	2,753,565
OTHER FINANCING SOURCES (USES)
Proceeds from the sale of capital assets 	15,000 	15,000 	14,451 	(549)
Transfers in 	1,857,728 	1,857,728 	185,277 	(1,672,451)
Transfers out 	(691,371) 	(691,371) 	(691,371) 	-
Total other financing sources and uses 	1,181,357 	1,181,357 	(491,643) 	(1,673,000)
Net change in fund balances 	(581,020)	$ 	(581,020)	$ 	499,545	$ 	1,080,565	$
Budget

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B OROUGH OF C ARLISLE
Notes to Budgetary Comparison Schedule
Year Ended December 31, 2020
74
N OTE 1 	BUDGETARY I NFORMATION
Borough Council adopts annual budgets according to generally accepted accounting principles
(GAAP) for the general fund. All annual appropriations lapse at the end of each year and must
be reappropriated.

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O THER S UPPLEMENTARY INFORMATION

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B OROUGH OF C ARLISLE
Governmental Funds
December 31, 2020
Special Revenue Funds are used to account for specific revenues that are legally restricted to
expenditure for particular purposes.
Community Development Block Grant (CDBG) Fund -- This fund is used to account for the Borough’s
share of Housing and Urban Development (HUD) grants disbursed by the federal government to aid
communities with economic and residential development. The funds are legally restricted to be used
for the benefit of low to moderate income areas within the Borough. Most of this area falls within the
Borough’s historic district.
Highway Aid Fund -- This fund is used to account for the Borough’s share of Liquid Fuels funds
disbursed by the Commonwealth of Pennsylvania. The funds are legally restricted to the construction
and maintenance of Borough streets and bridges.
Asset Forfeiture Fund -- This fund is used to account for revenue received from the U.S. Department of
Justice for proceeds obtained in drug arrests. The use of these funds must supplement existing law
enforcement functions.
Capital Projects Fund -- This fund is used to account for financial resources to be used for the
acquisition or construction of major capital facilities.

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B OROUGH OF C ARLISLE
Combining Balance Sheet
Other Governmental Funds
December 31, 2020
75
Highway Aid
Fund
Community
Development
Block Grant 	Asset Forfeiture
Total Other
Governmental
Funds
ASSETS
Cash and cash equivalents 	1,286,004	$ 	-	$ 	28,147	$ 	1,314,151	$
Other receivables 	- 	39,415 	- 	39,415
Total assets 	1,286,004	$ 	39,415	$ 	28,147	$ 	1,353,566	$
LIABILITIES AND FUND BALANCES
Liabilities
Due to other funds 	-	$ 	39,415	$ 	-	$ 	39,415	$
Total liabilities 	- 	39,415 	- 	39,415
Fund balances
Restricted fund balance 	1,286,004 	- 	28,147 	1,314,151
Total fund balances 	1,286,004 	- 	28,147 	1,314,151
Total liabilities and fund balances 	1,286,004	$ 	39,415	$ 	28,147	$ 	1,353,566	$
Special Revenue Funds

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B OROUGH OF C ARLISLE
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
Other Governmental Funds
Year Ended December 31, 2020
76
Highway Aid
Fund
Community
Development
Block Grant 	Asset Forfeiture
Total Other
Governmental
Funds
REVENUES
Investment earnings 	10,374	$ 	-	$ 	164	$ 	10,538	$
Intergovernmental 	551,458 	576,436 	- 	1,127,894
Total revenues 	561,832 	576,436 	164 	1,138,432
EXPENDITURES
Public works
Highways 	665,720 	- 	- 	665,720
Conservation and community development 	- 	391,159 	- 	391,159
Total expenditures 	665,720 	391,159 	- 	1,056,879
Excess (deficiency) of revenues over
(under) expenditures 	(103,888) 	185,277 	164 	81,553
OTHER FINANCING SOURCES (USES)
Transfers out 	- 	(185,277) 	- 	(185,277)
Total other financing sources and uses 	- 	(185,277) 	- 	(185,277)
Net change in fund balances 	(103,888) 	- 	164 	(103,724)
Fund balances - beginning 	1,389,892 	- 	27,983 	1,417,875
Fund balances - ending 	1,286,004	$ 	-	$ 	28,147	$ 	1,314,151	$

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B OROUGH OF C ARLISLE
Budgetary Comparison Schedule
Other Special Revenue Fund ‐ Highway Aid
Year Ended December 31, 2020
77
Actual
Original/Final 	Budgetary/GAAP
Budget 	Basis 	Variance
Revenue
Investment income 	11,000	$ 	10,374	$ 	(626)	$
Intergovernmental 	540,428 	551,458 	11,030
Total revenue 	551,428 	561,832 	10,404
Expenditures
Highways 	650,000 	665,720 	(15,720)
Total expenditures 	650,000 	665,720 	(15,720)
Excess of revenue over (under) expenditures 	(98,572) 	(103,888) 	(5,316)
Net change in fund balance 	(98,572)	$ 	(103,888)	$ 	(5,316)	$

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B OROUGH OF C ARLISLE
Budgetary Comparison Schedule
Other Special Revenue Fund ‐ Asset Forfeiture
Year Ended December 31, 2020
78
Actual
Budgetary/GAAP 	Variance with
Original 	Final 	Basis 	Final Budget
Revenue
Investment income 	-	$ 	-	$ 	164	$ 	164	$
Total revenue 	- 	- 	164 	164
Expenditures
Police department 	- 	- 	- 	-
Total expenditures 	- 	- 	- 	-
Excess of revenue over (under) expenditures 	- 	- 	164 	164
Net change in fund balance 	-	$ 	-	$ 	164	$ 	164	$
Budget

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B OROUGH OF C ARLISLE
Budgetary Comparison Schedule – Capital Projects Fund
Year Ended December 31, 2020
79
Variance with
Original 	Final 	Actual 	Final Budget
REVENUES
Investment earnings 	10,000	$ 	10,000	$ 	7,497	$ 	2,503)	( $
Intergovernmental 	5,133,343 	5,133,343 	936,347 	(4,196,996)
Proceeds from refunds/reimbursements 	- 	- 	- 	-
Total revenues 	5,143,343 	5,143,343 	943,844 	(4,199,499)
EXPENDITURES
General government
Buildings and plants 	195,750 	204,250 	92,258 	111,992
Public safety
Police department 	148,700 	148,700 	112,929 	35,771
Fire department 	9,500 	9,500 	- 	9,500
Codes department 	5,171,343 	5,171,343 	1,185,831 	3,985,512
Public works
Highways 	433,500 	577,500 	261,504 	315,996
Parks and recreation 	196,051 	270,051 	54,385 	215,666
Conservation and community development 	8,100 	8,100 	- 	8,100
Debt service
Principal 	157,266 	157,266 	104,531 	52,735
Interest and fiscal charges 	122,355 	122,355 	135,000 	(12,645)
Total expenditures 	6,442,565 	6,669,065 	1,946,438 	4,722,627
Excess (deficiency) of revenues over
(under) expenditures 	(1,299,222) 	(1,525,722) 	(1,002,594) 	523,128
OTHER FINANCING SOURCES (USES)
Issuance of long-term debt 	- 	- 	207,891 	207,891
Transfers in 	716,371 	716,371 	691,371 	(25,000)
Transfers out 	(50,000) 	(50,000) 	(73,124) 	(23,124)
Total other financing sources and uses 	666,371 	666,371 	826,138 	159,767
Net change in fund balances 	(632,851)	$ 	(859,351)	$ 	(176,456)	$ 	682,895	$
Budget

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B OROUGH OF C ARLISLE
Pension Trust Funds
December 31, 2020
Pension Trust Funds are used to account for assets held by the Borough in a trustee capacity for future
pension benefits.
Police Pension Fund -- This fund is used to account for the accumulation of resources for pension
benefit payments to qualified public safety (police) employees.
Non‐Uniformed Pension Fund -- This fund is used to account for the accumulation of resources for
pension benefit payments to qualified employees of the Borough other than police or fire department
employees.

-- 98 of 137 --

B OROUGH OF C ARLISLE
Combining Statement of Fiduciary Net Position ‐ Pension Trust Funds
December 31, 2020
80
Police Pension
Trust Fund
Non‐Uniformed
Pension Trust
Fund
Total Pension
Trust Funds
ASSETS
Cash and cash equivalents 	501,262	$ 	330,287	$ 	831,549	$
Accrued interest receivable 	6 	5 	11
Fixed income mutual funds 	6,937,184 	4,824,782 	11,761,966
Mutual funds - open end 	13,231,226 	9,173,525 	22,404,751
Total assets 	20,669,678	$ 	14,328,599	$ 	34,998,277	$
NET POSITION
Net position restricted for pensions 	20,669,678 	14,328,599 	34,998,277
Total net position 20,669,678	$ 	14,328,599	$ 	34,998,277	$

-- 99 of 137 --

B OROUGH OF C ARLISLE
Combining Statement of Changes in Fiduciary Net Position ‐ Pension Trust Funds
Year Ended December 31, 2020
81
Police Pension
Trust Fund
Non‐Uniformed
Pension Trust
Fund
Total Pension
Trust Funds
ADDITIONS
Contributions
Employer 	403,690	$ 	282,811	$ 	686,501	$
Plan members 	165,718 	57,395 	223,113
Total contributions 	569,408 	340,206 	909,614
Investment earnings
Net appreciation (depreciation)
in fair value of investments 	2,603,089 	1,808,258 	4,411,347
Interest and dividends 	375,925 	258,674 	634,599
Investment activity expense 	(48,919) 	(33,596) 	(82,515)
Total net investment earnings 	2,930,095 	2,033,336 	4,963,431
Total net additions (depreciation) 	3,499,503 	2,373,542 	5,873,045
DEDUCTIONS
Benefits 	1,012,879 	455,500 	1,468,379
Administrative 	27,688 	27,677 	55,365
Total deductions 	1,040,567 	483,177 	1,523,744
Change in net position 	2,458,936 	1,890,365 	4,349,301
Net position - beginning 	18,210,742 	12,438,234 	30,648,976
Net position - ending 	20,669,678	$ 	14,328,599	$ 	34,998,277	$

-- 100 of 137 --

B OROUGH OF C ARLISLE
Future Debt Service Requirements
December 31, 2020
82
The following schedules provide the total debt service payments which the Borough is obligated to
make. Total Governmental Activities
Fiscal 	TOTAL
Year 	Principal 	Interest 	Principal 	Interest 	Principal 	Interest 	Principal 	Interest 	Principal 	Interest
2021 	41,845 	5,275 	109,307 	61,218 	527,718 	144,389 	- 	75,106 	678,870 	285,988
2022 	43,166 	4,538 	114,082 	55,752 	550,296 	118,003 	2,290,106 	77,569 	2,997,650 	255,862
2023 	43,518 	3,778 	118,858 	50,048 	580,413 	90,488 	- 	- 	742,789 	144,314
2024 	55,764 	3,013 	128,141 	44,105 	381,673 	61,468 	- 	- 	565,578 	108,586
2025 	57,085 	2,031 	132,917 	37,698 	375,192 	42,384 	- 	- 	565,194 	82,113
2026 	58,315 	1,025 	137,962 	31,052 	311,259 	27,376 	- 	- 	507,536 	59,453
2027 	- 	- 	142,468 	28,293 	200,928 	14,926 	- 	- 	343,396 	43,219
2028 	- 	- 	142,738 	25,266 	125,580 	6,889 	- 	- 	268,318 	32,155
2029 	- 	- 	147,514 	22,054 	46,645 	1,866 	- 	- 	194,159 	23,920
2030 	- 	- 	152,020 	18,551 	- 	- 	- 	- 	152,020 	18,551
2031 	- 	- 	156,796 	14,750 	- 	- 	- 	- 	156,796 	14,750
2032 	- 	- 	157,065 	10,830 	- 	- 	- 	- 	157,065 	10,830
2033 	- 	- 	17,781 	6,118 	- 	- 	- 	- 	17,781 	6,118
2034 	- 	- 	18,320 	5,585 	- 	- 	- 	- 	18,320 	5,585
2035 	- 	- 	18,858 	5,035 	- 	- 	- 	- 	18,858 	5,035
2036 	- 	- 	19,397 	4,469 	- 	- 	- 	- 	19,397 	4,469
2037 	- 	- 	19,936 	3,888 	- 	- 	- 	- 	19,936 	3,888
2038 	- 	- 	20,744 	3,289 	- 	- 	- 	- 	20,744 	3,289
2039 	- 	- 	21,283 	2,667 	- 	- 	- 	- 	21,283 	2,667
2040 	- 	- 	21,822 	2,029 	- 	- 	- 	- 	21,822 	2,029
2041 	- 	- 	22,630 	1,374 	- 	- 	- 	- 	22,630 	1,374
2042 	- 	- 	23,168 	695 	- 	- 	- 	- 	23,168 	695
299,693	$ 	19,660	$ 	1,843,807	$ 	434,766	$ 	3,099,704	$ 	507,789	$ 	2,290,106	$ 	152,675	$ 	7,533,310	$ 	1,114,890	$
Fiscal
Year 	Principal 	Interest 	Principal 	Interest 	Principal 	Interest 	Principal 	Interest
2021 	100,198 	12,630 	100,343 	102,371 	494,783 	188,619 	695,324 	303,620
2022 	103,362 	10,867 	104,898 	97,354 	517,420 	163,880 	725,680 	272,101
2023 	104,206 	9,048 	109,453 	92,109 	546,378 	138,009 	760,037 	239,166
2024 	133,527 	7,214 	116,306 	86,636 	640,649 	110,690 	890,482 	204,540
2025 	136,691 	4,864 	120,856 	80,821 	649,506 	78,658 	907,053 	164,343
2026 	139,645 	2,457 	127,704 	74,778 	598,922 	52,678 	866,271 	129,913
2027 	- 	- 	129,982 	72,224 	386,624 	28,721 	516,606 	100,945
2028 	- 	- 	132,258 	69,462 	241,640 	13,256 	373,898 	82,718
2029 	- 	- 	136,833 	66,486 	89,751 	3,590 	226,584 	70,076
2030 	- 	- 	139,105 	63,236 	- 	- 	139,105 	63,236
2031 	- 	- 	143,676 	59,759 	- 	- 	143,676 	59,759
2032 	- 	- 	145,944 	56,167 	- 	- 	145,944 	56,167
2033 	- 	- 	150,507 	51,788 	- 	- 	150,507 	51,788
2034 	- 	- 	155,068 	47,273 	- 	- 	155,068 	47,273
2035 	- 	- 	159,628 	42,621 	- 	- 	159,628 	42,621
2036 	- 	- 	164,187 	37,832 	- 	- 	164,187 	37,832
2037 	- 	- 	168,744 	32,907 	- 	- 	168,744 	32,907
2038 	- 	- 	175,602 	27,844 	- 	- 	175,602 	27,844
2039 	- 	- 	180,156 	22,576 	- 	- 	180,156 	22,576
2040 	- 	- 	184,709 	17,172 	- 	- 	184,709 	17,172
2041 	- 	- 	191,563 	11,630 	- 	- 	191,563 	11,630
2042 	- 	- 	196,113 	5,883 	- 	- 	196,113 	5,883
717,629	$ 	47,080	$ 	3,233,635	$ 	1,218,929	$ 	4,165,673	$ 	778,101	$ 	8,116,937	$ 	2,044,110	$
Fiscal
Year 	Principal 	Interest 	Principal 	Interest 	Principal 	Interest 	Principal 	Interest 	Principal 	Interest
2021 	1,000 	122,890 	327,268 	41,253 	106,871 	109,036 	391,896 	186,790 	827,035 	459,969
2022 	1,000 	122,865 	337,603 	35,493 	111,729 	103,692 	423,296 	167,195 	873,628 	429,245
2023 	1,000 	122,840 	340,359 	29,551 	116,586 	98,106 	448,159 	146,030 	906,104 	396,527
2024 	1,000 	122,816 	436,128 	23,561 	123,873 	92,276 	526,079 	123,622 	1,087,080 	362,275
2025 	1,000 	161,222 	446,463 	15,885 	128,731 	86,083 	619,302 	97,318 	1,195,496 	360,508
2026 	1,000 	199,620 	456,110 	8,029 	136,017 	79,646 	824,819 	72,546 	1,417,946 	359,841
2027 	470,000 	190,200 	- 	- 	138,446 	76,926 	532,448 	39,553 	1,140,894 	306,679
2028 	489,000 	171,020 	- 	- 	140,875 	73,984 	332,780 	18,255 	962,655 	263,259
2029 	509,000 	151,060 	- 	- 	145,733 	70,814 	123,604 	4,944 	778,337 	226,818
2030 	530,000 	130,280 	- 	- 	148,162 	67,353 	- 	- 	678,162 	197,633
2031 	552,000 	108,640 	- 	- 	153,020 	63,649 	- 	- 	705,020 	172,289
2032 	574,000 	86,120 	- 	- 	155,448 	59,823 	- 	- 	729,448 	145,943
2033 	597,000 	62,700 	- 	- 	160,306 	55,160 	- 	- 	757,306 	117,860
2034 	622,000 	38,320 	- 	- 	165,164 	50,351 	- 	- 	787,164 	88,671
2035 	647,000 	12,940 	- 	- 	170,022 	45,396 	- 	- 	817,022 	58,336
2036 	- 	- 	- 	- 	174,879 	40,295 	- 	- 	174,879 	40,295
2037 	- 	- 	- 	- 	179,737 	35,049 	- 	- 	179,737 	35,049
2038 	- 	- 	- 	- 	187,024 	29,657 	- 	- 	187,024 	29,657
2039 	- 	- 	- 	- 	191,882 	24,046 	- 	- 	191,882 	24,046
2040 	- 	- 	- 	- 	196,739 	18,289 	- 	- 	196,739 	18,289
2041 	- 	- 	- 	- 	204,026 	12,387 	- 	- 	204,026 	12,387
2042 	- 	- 	- 	- 	208,885 	6,267 	- 	- 	208,885 	6,267
4,996,000	$ 	1,803,533	$ 	2,343,931	$ 	153,772	$ 	3,444,155	$ 	1,298,285	$ 	4,222,383	$ 	856,253	$ 	15,006,469	$ 	4,111,843	$
TOTAL
Total Sewer Fund
Total Water Fund
TOTAL
2015 GO Note 	2016 GO Note 	2017A GO Bond 	2017B GO Bond
2018 GO Note
Governmental Activities
Sewer Fund
Water Fund
2017B GO Bonds	2017A GO Bonds	2016 GO Note
2017B GO Bonds	2016 GO Note 	2017A GO Bonds

-- 101 of 137 --

B OROUGH OF C ARLISLE
Future Debt Service Requirements (Continued)
December 31, 2020
83
Fiscal
Year 	Principal 	Interest 	Principal 	Interest 	Principal 	Interest 	Principal 	Interest
2021 	5,669	$ 	715	$ 	12,612	$ 	6,357	$ 	110,603	$ 	21,002	$ 	128,884	$ 	28,074	$
2022 	5,848 	615 	13,160 	5,727 	113,988 	15,472 	132,996 	21,814
2023 	5,895 	512 	13,709 	5,069 	120,050 	9,773 	139,654 	15,354
2024 	7,554 	408 	14,806 	4,383 	46,600 	3,770 	68,960 	8,561
2025 	7,733 	275 	15,354 	3,643 	36,000 	1,440 	59,087 	5,358
2026 	7,898 	139 	15,902 	2,875 	- 	- 	23,800 	3,014
2027 	- 	- 	16,451 	2,557 	- 	- 	16,451 	2,557
2028 	- 	- 	16,451 	2,208 	- 	- 	16,451 	2,208
2029 	- 	- 	16,999 	1,838 	- 	- 	16,999 	1,838
2030 	- 	- 	17,547 	1,434 	- 	- 	17,547 	1,434
2031 	- 	- 	18,096 	995 	- 	- 	18,096 	995
2032 	- 	- 	18,095 	543 	- 	- 	18,095 	543
40,597	$ 	2,664	$ 	189,182	$ 	37,629	$ 	427,241	$ 	51,457	$ 	657,020	$ 	91,750	$
Fiscal
Year 	Principal 	Interest 	Principal 	Interest 	Principal 	Interest
2021 	21	$ 	3	$ 	4,935	$ 	2,488	$ 	4,956	$ 	2,491	$
2022 	22 	2 	5,150 	2,241 	5,172 	2,243
2023 	22 	2 	5,364 	1,983 	5,386 	1,985
2024 	27 	1 	5,793 	1,715 	5,820 	1,716
2025 	29 	1 	6,008 	1,426 	6,037 	1,427
2026 	29 	1 	6,223 	1,125 	6,252 	1,126
2027 	- 	- 	6,437 	1,001 	6,437 	1,001
2028 	- 	- 	6,437 	864 	6,437 	864
2029 	- 	- 	6,652 	719 	6,652 	719
2030 	- 	- 	6,866 	561 	6,866 	561
2031 	- 	- 	7,081 	389 	7,081 	389
2032 	- 	- 	7,081 	212 	7,081 	212
150	$ 	10	$ 	74,027	$ 	14,724	$ 	74,177	$ 	14,734	$
Fiscal
Year 	Principal 	Interest 	Principal 	Interest
2021 	934	$ 	956	$ 	934	$ 	956	$
2022 	980 	909 	980 	909
2023 	1,029 	860 	1,029 	860
2024 	1,081 	809 	1,081 	809
2025 	1,135 	755 	1,135 	755
2026 	1,192 	698 	1,192 	698
2027 	1,215 	674 	1,215 	674
2028 	1,241 	648 	1,241 	648
2029 	1,269 	620 	1,269 	620
2030 	1,299 	590 	1,299 	590
2031 	1,332 	558 	1,332 	558
2032 	1,365 	525 	1,365 	525
2033 	1,406 	484 	1,406 	484
2034 	1,448 	441 	1,448 	441
2035 	1,492 	398 	1,492 	398
2036 	1,537 	353 	1,537 	353
2037 	1,583 	307 	1,583 	307
2038 	1,630 	260 	1,630 	260
2039 	1,679 	211 	1,679 	211
2040 	1,729 	160 	1,729 	160
2041 	1,781 	108 	1,781 	108
2042 	1,836 	56 	1,836 	56
30,193	$ 	11,380	$ 	30,193	$ 	11,380	$
Total Stormwater Fund
2017A GO Bond 	TOTAL
Stormwater
2016 GO Note 	2017A GO Bond
Parking
2016 GO Note
TOTAL
2017B GO Bond
Total Solid Waste Fund
2017A GO Bond
Solid Waste
TOTAL
Total Parking Fund

-- 102 of 137 --

B OROUGH OF C ARLISLE
Schedule of Indebtedness
December 31, 2020
84
Date of 	Amount of 	Outstanding at
Date of 	Original 	Interest 	Final 	Annual 	December 31
Type of Debt 	Issue 	Amount 	Rate 	Maturity 	Maturity 	2019 	2020
GO Bonds (Series of 2016) 	8/15/2016 	626,521	$
(General Fund) 	1.76% 	8/15/2021 	41,845
1.76% 	8/15/2022 	43,166
1.76% 	8/15/2023 	43,518
1.76% 	8/15/2024 	55,764
1.76% 	8/15/2025 	57,085
1.76% 	8/15/2026 	58,315
360,654	$ 	299,693	$
GO Bonds (Series of 2017A) 	12/8/2017 	2,153,433	$
(Capital Projects Fund) 	5.00% 	8/15/2021 	109,307
5.00% 	8/15/2022 	114,082
5.00% 	8/15/2023 	118,858
5.00% 	8/15/2024 	128,141
5.00% 	8/15/2025 	132,917
2.00% 	8/15/2026 	137,962
2.13% 	8/15/2027 	142,468
2.25% 	8/15/2028 	142,738
2.38% 	8/15/2029 	147,514
2.50% 	8/15/2030 	152,020
2.50% 	8/15/2031 	156,796
3.00% 	8/15/2032 	157,065
3.00% 	8/15/2033 	17,781
3.00% 	8/15/2034 	18,320
3.00% 	8/15/2035 	18,858
3.00% 	8/15/2036 	19,397
3.00% 	8/15/2037 	19,936
3.00% 	8/15/2038 	20,744
3.00% 	8/15/2039 	21,283
3.00% 	8/15/2040 	21,822
3.00% 	8/15/2041 	22,630
3.00% 	8/15/2042 	23,168
1,948,338 	1,843,807
GO Bonds (Series of 2017B) 	12/8/2017 	4,054,674	$
(General Fund) 	5.00% 	10/15/2021 	527,718
5.00% 	10/15/2022 	550,296
5.00% 	10/15/2023 	580,413
5.00% 	10/15/2024 	381,673
4.00% 	10/15/2025 	375,192
4.00% 	10/15/2026 	311,259
4.00% 	10/15/2027 	200,928
4.00% 	10/15/2028 	125,580
4.00% 	10/15/2029 	46,645
3,539,133 	3,099,704
GO Note (Series of 2018) 	12/14/2018 	2,082,215	$
(Capital Projects Fund) 	12/1/2022 2,290,106
2,082,215 	2,290,106
Total Payable From Tax Revenue 	7,930,340	$ 	7,533,310	$

-- 103 of 137 --

B OROUGH OF C ARLISLE
Schedule of Indebtedness (Continued)
December 31, 2020
85
Date of 	Amount of 	Outstanding at
Date of 	Original 	Interest 	Final 	Annual 	December 31
Type of Debt 	Issue 	Amount 	Rate 	Maturity 	Maturity 	2019 	2020
GO Note (Series of 2016) 	8/15/2016 	1,500,227	$
(Water Fund) 	1.76% 	8/15/2021 	100,198
1.76% 	8/15/2022 	103,362
1.76% 	8/15/2023 	104,206
1.76% 	8/15/2024 	133,527
1.76% 	8/15/2025 	136,691
1.76% 	8/15/2026 	139,645
863,602	$ 	717,629	$
GO Bonds (Series of 2017A) 	12/8/2017 	3,556,145	$
(Water Fund) 	5.00% 	10/15/2021 	100,343
5.00% 	10/15/2022 	104,898
5.00% 	10/15/2023 	109,453
5.00% 	10/15/2024 	116,306
5.00% 	10/15/2025 	120,856
2.00% 	10/15/2026 	127,704
2.13% 	10/15/2027 	129,982
2.25% 	10/15/2028 	132,258
2.38% 	10/15/2029 	136,833
2.50% 	10/15/2030 	139,105
2.50% 	10/15/2031 	143,676
3.00% 	10/15/2032 	145,944
3.00% 	10/15/2033 	150,507
3.00% 	10/15/2034 	155,068
3.00% 	10/15/2035 	159,628
3.00% 	10/15/2036 	164,187
3.00% 	10/15/2037 	168,744
3.00% 	10/15/2038 	175,602
3.00% 	10/15/2039 	180,156
3.00% 	10/15/2040 	184,709
3.00% 	10/15/2041 	191,563
3.00% 	10/15/2042 	196,113
3,360,500 	3,233,635
GO Bonds (Series of 2017B) 	12/8/2017 	5,154,676	$
(Water Fund) 	5.00% 	10/15/2021 	494,783
5.00% 	10/15/2022 	517,420
5.00% 	10/15/2023 	546,378
5.00% 	10/15/2024 	640,649
4.00% 	10/15/2025 	649,506
4.00% 	10/15/2026 	598,922
4.00% 	10/15/2027 	386,624
4.00% 	10/15/2028 	241,640
4.00% 	10/15/2029 	89,751
4,592,848 	4,165,673

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B OROUGH OF C ARLISLE
Schedule of Indebtedness (Continued)
December 31, 2020
86
Date of 	Amount of 	Outstanding at
Date of 	Original 	Interest 	Final 	Annual 	December 31
Type of Debt 	Issue 	Amount 	Rate 	Maturity 	Maturity 	2019 	2020
GO Note (Series of 2015) 	4/9/2015 	5,000,000	$
(Sewer Fund) 	2.46% 	5/15/2021 	1,000
2.46% 	5/15/2022 	1,000
2.46% 	5/15/2023 	1,000
2.46% 	5/15/2024 	1,000
2.46% 	5/15/2025 	1,000
4.00% 	5/15/2026 	1,000
4.00% 	5/15/2027 	470,000
4.00% 	5/15/2028 	489,000
4.00% 	5/15/2029 	509,000
4.00% 	5/15/2030 	530,000
4.00% 	5/15/2031 	552,000
4.00% 	5/15/2032 	574,000
4.00% 	5/15/2033 	597,000
4.00% 	5/15/2034 	622,000
4.00% 	5/15/2035 	647,000
4,997,000 	4,996,000
GO Note (Series of 2016) 	8/15/2016 	$4,900,068
(Sewer Fund) 	1.76% 	8/15/2021 	327,268
1.76% 	8/15/2022 	337,603
1.76% 	8/15/2023 	340,359
1.76% 	8/15/2024 	436,128
1.76% 	8/15/2025 	446,463
1.76% 	8/15/2026 	456,110
2,820,709 	2,343,931
GO Bonds (Series of 2017A) 	12/8/2017 	3,752,622	$
(Sewer Fund) 	5.00% 	10/15/2021 	106,871
5.00% 	10/15/2022 	111,729
5.00% 	10/15/2023 	116,586
5.00% 	10/15/2024 	123,873
5.00% 	10/15/2025 	128,731
2.00% 	10/15/2026 	136,017
2.13% 	10/15/2027 	138,446
2.25% 	10/15/2028 	140,875
2.38% 	10/15/2029 	145,733
2.50% 	10/15/2030 	148,162
2.50% 	10/15/2031 	153,020
3.00% 	10/15/2032 	155,448
3.00% 	10/15/2033 	160,306
3.00% 	10/15/2034 	165,164
3.00% 	10/15/2035 	170,022
3.00% 	10/15/2036 	174,879
3.00% 	10/15/2037 	179,737
3.00% 	10/15/2038 	187,024
3.00% 	10/15/2039 	191,882
3.00% 	10/15/2040 	196,739
3.00% 	10/15/2041 	204,026
3.00% 	10/15/2042 	208,885
3,546,168 	3,444,155
GO Bonds (Series of 2017B) 	12/8/2017 	5,063,877	$
(Sewer Fund) 	5.00% 	10/15/2021 	391,896
5.00% 	10/15/2022 	423,296
5.00% 	10/15/2023 	448,159
5.00% 	10/15/2024 	526,079
4.00% 	10/15/2025 	619,302
4.00% 	10/15/2026 	824,819
4.00% 	10/15/2027 	532,448
4.00% 	10/15/2028 	332,780
4.00% 	10/15/2029 	123,604
4,576,793 	4,222,383

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B OROUGH OF C ARLISLE
Schedule of Indebtedness (Continued)
December 31, 2020
87
Date of 	Amount of 	Outstanding at
Date of 	Original 	Interest 	Final 	Annual 	December 31
Type of Debt 	Issue 	Amount 	Rate 	Maturity 	Maturity 	2019 	2020
GO Note (Series of 2016) 	8/15/2016 	84,875	$
(Parking Fund) 	1.76% 	8/15/2021 	5,669
1.76% 	8/15/2022 	5,848
1.76% 	8/15/2023 	5,895
1.76% 	8/15/2024 	7,554
1.76% 	8/15/2025 	7,733
1.76% 	8/15/2026 	7,898
48,855 	40,597
GO Bonds (Series of 2017A) 	12/8/2017 	224,825	$
(Parking Fund) 	5.00% 	10/15/2021 	12,612
5.00% 	10/15/2022 	13,160
5.00% 	10/15/2023 	13,709
5.00% 	10/15/2024 	14,806
5.00% 	10/15/2025 	15,354
2.00% 	10/15/2026 	15,902
2.13% 	10/15/2027 	16,451
2.25% 	10/15/2028 	16,451
2.38% 	10/15/2029 	16,999
2.50% 	10/15/2030 	17,547
2.50% 	10/15/2031 	18,096
3.00% 	10/15/2032 	18,095
201,246 	189,182
GO Bonds (Series of 2017B) 	12/8/2017 	611,773	$
(Parking Fund) 	5.00% 	10/15/2021 	110,603
5.00% 	10/15/2022 	113,988
5.00% 	10/15/2023 	120,050
5.00% 	10/15/2024 	46,600
4.00% 	10/15/2025 	36,000
516,226 	427,241

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B OROUGH OF C ARLISLE
Schedule of Indebtedness (Continued)
December 31, 2020
88
Date of 	Amount of 	Outstanding at
Date of 	Original 	Interest 	Final 	Annual 	December 31
Type of Debt 	Issue 	Amount 	Rate 	Maturity 	Maturity 	2019 	2020
GO Note (Series of 2016) 	8/15/2016 	311	$
(Solid Waste Fund) 	1.76% 	8/15/2021 	21
1.76% 	8/15/2022 	22
1.76% 	8/15/2023 	22
1.76% 	8/15/2024 	27
1.76% 	8/15/2025 	29
1.76% 	8/15/2026 	29
180 	150
GO Bonds (Series of 2017A) 	12/8/2017 	87,975	$
(Solid Waste Fund) 	5.00% 	10/15/2021 	4,935
5.00% 	10/15/2022 	5,150
5.00% 	10/15/2023 	5,364
5.00% 	10/15/2024 	5,793
5.00% 	10/15/2025 	6,008
2.00% 	10/15/2026 	6,223
2.13% 	10/15/2027 	6,437
2.25% 	10/15/2028 	6,437
2.38% 	10/15/2029 	6,652
2.50% 	10/15/2030 	6,866
2.50% 	10/15/2031 	7,081
3.00% 	10/15/2032 	7,081
78,748 	74,027
GO Bonds (Series of 2017A) 	12/8/2017 	-	$
(Stormwater Fund) 	5.00% 	10/15/2021 	934
5.00% 	10/15/2022 	980
5.00% 	10/15/2023 	1,029
5.00% 	10/15/2024 	1,081
5.00% 	10/15/2025 	1,135
2.00% 	10/15/2026 	1,192
2.13% 	10/15/2027 	1,215
2.25% 	10/15/2028 	1,241
2.38% 	10/15/2029 	1,269
2.50% 	10/15/2030 	1,299
2.50% 	10/15/2031 	1,332
3.00% 	10/15/2032 	1,365
3.00% 	10/15/2033 	1,406
3.00% 	10/15/2034 	1,448
3.00% 	10/15/2035 	1,492
3.00% 	10/15/2036 	1,537
3.00% 	10/15/2037 	1,583
3.00% 	10/15/2038 	1,630
3.00% 	10/15/2039 	1,679
3.00% 	10/15/2040 	1,729
3.00% 	10/15/2041 	1,781
3.00% 	10/15/2042 	1,836
- 	30,193
Total Payable From Other Revenues 	25,602,875 	23,884,796
Total Principal Debt Service Requirements 	33,533,215	$ 	31,418,106	$

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S TATISTICAL SECTION

-- 108 of 137 --

B OROUGH OF C ARLISLE
Statistical Section ‐ Unaudited
December 31, 2020
This part of the Borough of Carlisle’s comprehensive annual financial report presents detailed
information as a context for understanding what the information in the financial statements, note
disclosures, and required supplementary information says about the government’s overall financial
health.
CONTENTS PAGES
Financial Trends
These schedules contain trend information to help the reader
understand how the government’s financial performance and well-
being have changed over time. 	89 - 93
Revenue Capacity
These schedules contain information to help the reader assess the
government’s most significant local revenue source, the property
tax. 	94 - 97
Debt Capacity
These schedules present information to help the reader assess the
affordability of the government’s current levels of outstanding debt
and the government’s ability to issue additional debt in the future. 	98 - 101
Demographic and Economic Information
These schedules offer demographic and economic indicators to
help the reader understand the environment within which the
government’s financial activities take place. 	102 - 103
Operating Information
These schedules contain service and infrastructure data to help the
reader understand how the information in the government’s
financial report relates to the services the government provides
and the activities it performs. 	104 - 106

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B OROUGH OF C ARLISLE
Financial Trends Information
Net Position by Component
Last Ten Fiscal Years
89
Schedule 1
2020 	2019 	2018 (c) 	2017 	2016 	2015 (b) 	2014 	2013 	2012 (a) 	2011
Governmental activities
Net investment in capital assets 	14,799,272	$ 	14,451,032	$ 	14,065,108	$ 	15,154,103	$ 	13,410,957	$ 	12,697,315	$ 	11,989,362	$ 	11,996,855	$ 	12,397,511	$ 	13,129,127	$
Restricted 	2,600,104 	2,807,160 	2,749,193 	3,775,262 	2,888,319 	1,905,409 	1,661,790 	1,280,889 	1,042,114 	1,066,606
Unrestricted 	8,118,910 	6,446,981 	5,458,560 	3,370,210 	3,392,972 	4,830,596 	4,684,908 	4,618,890 	3,515,525 	2,939,165
Total governmental activities net position 	25,518,286	$ 	23,705,173	$ 	22,272,861	$ 	22,299,575	$ 	19,692,248	$ 	19,433,320	$ 	18,336,060	$ 	17,896,634	$ 	16,955,150	$ 	17,134,898	$
Business-type activities
Net investment in capital assets 	22,589,169	$ 	23,163,967	$ 	19,263,605	$ 	20,167,094	$ 	19,776,395	$ 	21,331,813	$ 	22,961,322	$ 	23,674,750	$ 	25,700,468	$ 	23,989,064	$
Unrestricted 	22,668,779 	19,599,734 	18,373,208 	15,420,711 	13,546,330 	10,998,309 	8,682,416 	7,162,959 	5,029,342 	5,734,329
Total business-type activities net position 	45,257,948	$ 	42,763,701	$ 	37,636,813	$ 	35,587,805	$ 	33,322,725	$ 	32,330,122	$ 	31,643,738	$ 	30,837,709	$ 	30,729,810	$ 	29,723,393	$
Primary government
Net investment in capital assets 	37,388,441	$ 	37,614,999	$ 	33,328,713	$ 	35,321,197	$ 	33,187,352	$ 	34,029,128	$ 	34,950,684	$ 	35,671,605	$ 	38,097,979	$ 	37,118,191	$
Restricted 	2,600,104 	2,807,160 	2,749,193 	3,775,262 	2,888,319 	1,905,409 	1,661,790 	1,280,889 	1,042,114 	1,066,606
Unrestricted 	30,787,689 	26,046,715 	23,831,768 	18,790,921 	16,939,302 	15,828,905 	13,367,324 	11,781,849 	8,544,867 	8,673,494
Total primary government net position 	70,776,234	$ 	66,468,874	$ 	59,909,674	$ 	57,887,380	$ 	53,014,973	$ 	51,763,442	$ 	49,979,798	$ 	48,734,343	$ 	47,684,960	$ 	46,858,291	$
Source: Department of Finance (DOF) compilation of data.
a During 2012 the Borough implemented items previously reported as assets and liabilities provisions of GASB 65 which changed how bond issue costs were recorded. Prior year amounts have not
been restated and are shown based on the reporting requirements prior to the implementation of GASB 65.
b During 2015 the Borough implemented the net pension obligation provisions of GASB 68 for governmental activities and business-type activities. Prior year amounts have not been restated and are shown
based on the reporting requirements prior to the implementation of GASB 68.
c During 2018 the Borough implemented the provisions of GASB 75 which only applies to the Borough's governmental activities. Prior year amounts have not been restated and are shown based on the
reporting requirements prior to the implementation of GASB 75. Also, during 2018 the Borough implemented the provisions of GASB 89. Prior year amounts have not been restated and are shown based on
the reporting requirements prior to the implementation of GASB 89.
Fiscal Year

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B OROUGH OF C ARLISLE
Financial Trends Information
Changes in Net Position
Last Ten Fiscal Years
90
Schedule 2
2020 	2019 	2018 	2017 	2016 	2015 	2014 	2013 	2012 	2011
Program Revenues
Governmental Activities:
Charges for Services:
General government 	346,724	$ 	340,690	$ 	366,298	$ 	334,429	$ 	530,175	$ 	306,102	$ 	293,713	$ 	430,867	$ 	388,062	$ 	368,645	$
Public safety 	250,898 	424,453 	538,217 	801,510 	664,413 	694,933 	725,235 	781,414 	881,831 	609,358
Public services 	37,174 	45,603 	87,239 	120,919 	63,094 	44,446 	38,798 	40,218 	120,437 	161,378
Parks and recreation 	110,814 	348,767 	316,899 	288,916 	308,928 	347,134 	298,667 	271,819 	255,113 	298,555
Operating grants and contributions 	1,985,355 	1,240,250 	1,201,548 	1,287,039 	1,283,339 	1,259,460 	1,304,787 	1,599,715 	1,305,212 	1,792,300
Capital grants and contributions 	1,348,420 	1,455,601 	822,798 	2,942,801 	1,162,135 	929,627 	1,103,549 	932,994 	538,371 	2,544,201
Total governmental activities program revenues 	4,079,385 	3,855,364 	3,332,999 	5,775,614 	4,012,084 	3,581,702 	3,764,749 	4,057,027 	3,489,026 	5,774,437
Business-type Activities:
Charges for Services:
Water 	4,286,922 	4,450,198 	4,514,792 	4,405,919 	4,184,024 	4,093,002 	3,970,748 	3,490,867 	3,630,700 	3,440,334
Sewer 	6,105,810 	6,291,347 	6,647,052 	6,703,342 	6,087,099 	5,527,954 	5,398,185 	4,979,628 	4,971,586 	4,753,521
Parking 	400,579 	708,443 	696,387 	680,576 	671,278 	629,194 	592,635 	504,637 	538,470 	508,690
Solid Waste 	1,434,687 	880,195 	837,651 	810,308 	670,597 	657,019 	599,122 	597,397 	590,330 	584,550
Stormwater 	1,767,087 	1,148,962 	- 	- 	- 	- 	- 	- 	- 	-
Operating grants and contributions 	55,074 	209,028 	85,959 	46,971 	35,146 	39,938 	62,465 	101,137 	97,250 	316,210
Capital grants and contributions 	323,801 	2,419,064 	229,596 	118,723 	62,111 	241,649 	46,207 	81,037 	874,230 	5,121,367
Total business-type activities program revenues 	14,373,960 	16,107,237 	13,011,437 	12,765,839 	11,710,255 	11,188,756 	10,669,362 	9,754,703 	10,702,566 	14,724,672
Total primary government program revenues 	18,453,345	$ 	19,962,601	$ 	16,344,436	$ 	18,541,453	$ 	15,722,339	$ 	14,770,458	$ 	14,434,111	$ 	13,811,730	$ 	14,191,592	$ 	20,499,109	$
Expenses
Governmental Activities:
General government 	1,996,953	$ 	1,865,486	$ 	1,579,336	$ 	1,791,013	$ 	1,303,148	$ 	1,232,564	$ 	1,416,153	$ 	1,385,330	$ 	1,382,247	$ 	1,402,176	$
Public safety 	5,660,761 	5,928,270 	6,073,956 	5,929,571 	6,000,082 	5,603,645 	5,459,908 	5,623,928 	5,610,486 	5,447,786
Public services 	1,709,843 	2,031,313 	2,048,923 	1,985,119 	2,648,369 	2,240,600 	2,208,735 	2,085,120 	2,144,972 	2,530,880
Parks and recreation 	893,308 	1,131,263 	1,147,602 	1,145,391 	1,182,586 	1,082,679 	1,028,150 	1,064,555 	1,074,170 	1,068,128
Conservation and community development 	471,282 	306,343 	293,361 	354,101 	243,669 	397,077 	419,715 	589,086 	449,639 	760,713
Interest on long-term debt 	250,103 	243,695 	269,101 	216,089 	151,944 	157,743 	166,114 	200,896 	165,837 	150,178
Total governmental activities expenses 	10,982,250	$ 	11,506,370	$ 	11,412,279	$ 	11,421,284	$ 	11,529,798	$ 	10,714,308	$ 	10,698,775	$ 	10,948,915	$ 	10,827,351	$ 	11,359,861	$
Fiscal Year

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B OROUGH OF C ARLISLE
Financial Trends Information
Changes in Net Position (Continued)
Last Ten Fiscal Years
91
Schedule 2
2020 	2019 	2018 	2017 	2016 	2015 	2014 	2013 	2012 	2011
Fiscal Year
Business-type Activities:
Water 	3,447,981	$ 	3,850,851	$ 	4,227,259	$ 	4,257,603	$ 	4,091,163	$ 	3,866,185	$ 	3,736,745	$ 	3,674,170	$ 	3,473,552	$ 	3,192,788	$
Sewer 	5,448,124 	5,741,796 	5,940,591 	5,871,507 	5,459,634 	5,477,005 	5,282,663 	5,279,620 	5,256,740 	4,904,537
Parking 	538,817 	524,341 	476,020 	575,388 	522,117 	517,686 	465,084 	422,840 	404,801 	401,965
Solid Waste 	1,656,256 	826,622 	772,774 	717,530 	727,257 	688,792 	683,205 	716,329 	726,044 	675,590
Stormwater 	1,055,188 	581,219 	- 	- 	- 	- 	- 	- 	- 	-
Total business-type activities expenses 	12,146,366 	11,524,829 	11,416,644 	11,422,028 	10,800,171 	10,549,668 	10,167,697 	10,092,959 	9,861,137 	9,174,880
Total primary government expense 	23,128,616	$ 	23,031,199	$ 	22,828,923	$ 	22,843,312	$ 	22,329,969	$ 	21,263,976	$ 	20,866,472	$ 	21,041,874	$ 	20,688,488	$ 	20,534,741	$
Net (Expense)/Revenue
Governmental activities 	(6,902,865)	$ 	(7,651,006)	$ 	(8,079,280)	$ 	(5,645,670)	$ 	(7,517,714)	$ 	(7,132,606)	$ 	(6,934,026)	$ 	(6,891,888)	$ 	(7,338,325)	$ 	(5,585,424)	$
Business-type activities 	2,227,594 	4,582,408 	1,594,793 	1,343,811 	910,084 	639,088 	501,665 	(338,256) 	841,429 	5,549,792
Total primary government net expense 	(4,675,271)	$ 	(3,068,598)	$ 	(6,484,487)	$ 	(4,301,859)	$ 	(6,607,630)	$ 	(6,493,518)	$ 	(6,432,361)	$ 	(7,230,144)	$ 	(6,496,896)	$ 	(35,632)	$
General Revenues and Other Changes in Net Position
Governmental Activities:
Taxes:
Real estate 	5,143,699	$ 	5,122,842	$ 	5,030,098	$ 	4,900,014	$ 	4,636,777	$ 	4,616,320	$ 	4,611,089	$ 	4,671,594	$ 	4,349,011	$ 	4,347,819	$
Earned income 	2,195,815 	2,119,181 	2,007,721 	2,089,313 	1,933,846 	1,865,042 	1,925,605 	2,029,280 	1,846,391 	1,599,551
Real estate transfer 	457,392 	377,589 	415,258 	332,300 	259,974 	600,243 	239,041 	386,226 	392,562 	217,383
Other 	816,775 	860,437 	809,969 	840,858 	794,947 	757,100 	779,368 	694,660 	672,203 	731,764
Investment earnings 	94,104 	233,038 	172,592 	59,625 	41,814 	10,918 	10,842 	16,850 	10,554 	24,189
Miscellaneous 	81,317 	259,156 	100,070 	32,019 	109,284 	111,166 	26,904 	19,906 	1,068 	3,107
Transfers 	(73,124) 	(43,505) 	(19,411) 	(1,132) 	- 	- 	(219,397) 	14,856 	(81,627) 	(39,263)
Total governmental activities 	8,715,978 	8,928,738 	8,516,297 	8,252,997 	7,776,642 	7,960,789 	7,373,452 	7,833,372 	7,190,162 	6,884,550
Business-type Activities:
Investment earnings 	152,146 	483,019 	404,784 	82,307 	41,331 	8,123 	5,866 	4,773 	10,255 	11,519
Gain on sale of capital asset 	- 	- 	- 	7,053 	17,864 	10,950 	17,265 	33,215 	10,592 	-
Miscellaneous 	41,383 	30,351 	30,020 	830,777 	23,324 	26,359 	61,836 	423,023 	163,988 	140,783
Transfers 	73,124 	43,505 	19,411 	1,132 	- 	- 	219,397 	(14,856) 	81,627 	39,263
Total business-type activities 	266,653 	556,875 	454,215 	921,269 	82,519 	45,432 	304,364 	446,155 	266,462 	191,565
Total primary government 	8,982,631	$ 	9,485,613	$ 	8,970,512	$ 	9,174,266	$ 	7,859,161	$ 	8,006,221	$ 	7,677,816	$ 	8,279,527	$ 	7,456,624	$ 	7,076,115	$
Change in Net Position
Governmental activities 	1,813,113	$ 	1,277,732	$ 	437,017	$ 	2,607,327	$ 	258,928	$ 	828,183	$ 	439,426	$ 	941,484	$ 	(148,163)	$ 	1,299,126	$
Business-type activities 	2,494,247 	5,139,283 	2,049,008 	2,265,080 	992,603 	684,520 	806,029 	107,899 	1,107,891 	5,741,357
Total primary government 	4,307,360	$ 	6,417,015	$ 	2,486,025	$ 	4,872,407	$ 	1,251,531	$ 	1,512,703	$ 	1,245,455	$ 	1,049,383	$ 	959,728	$ 	7,040,483	$
Source: DOF compilation of data.

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B OROUGH OF C ARLISLE
Financial Trends Information
Fund Balances, Governmental Funds
Last Ten Fiscal Years
92
Schedule 3
Fiscal Year
2020 	2019 	2018 	2017 	2016 	2015 	2014 	2013 	2012 	2011
General Fund
Nonspendable 	422,998	$ 	316,531	$ 	332,694	$ 	467,390	$ 	315,062	$ 	303,198	$ 	348,915	$ 	294,066	$ 	312,999	$ 	378,510	$
Spendable
Restricted 	19,175 	53,735 	53,421 	78,364 	1,682,519 	641,228 	547,936 	162,891 	74,483 	14,225
Committed 	598,344 	597,878 	595,900 	594,364 	3,865,506 	2,551,650 	2,565,376 	55,607 	100,455 	120,606
Assigned 	1,034,326 	985,233 	404,213 	404,213 	429,213 	433,813 	597,500 	17,000
Unassigned 	7,783,269 	7,405,190 	7,104,470 	5,554,601 	888,381 	2,230,983 	2,508,370 	4,835,056 	3,778,898 	3,001,316
Total General Fund 	9,858,112 	9,358,567 	8,490,698 	7,098,932 	7,180,681 	6,160,872 	6,568,097 	5,364,620 	4,266,835 	3,514,657
Capital Projects Fund
Nonspendable 	-	$ 	$ 	- 	-	$ 	-	$ 	-	$ 	-	$ 	-	$ 	-	$ 	-	$ 	-	$
Spendable
Restricted 	1,159,094 	1,335,550 	1,327,700 	2,446,582 	- 	- 	- 	- 	- 	-
Committed 	- 	- 	- 	- 	- 	- 	- 	- 	- 	-
Assigned 	- 	- 	- 	- 	- 	- 	- 	- 	- 	-
Unassigned 	- 	- 	- 	- 	- 	- 	- 	- 	- 	-
Total Captial Projects Fund 	1,159,094 	1,335,550 	1,327,700 	2,446,582 	- 	- 	- 	- 	- 	-
All Other Governmental Funds
Restricted 	1,314,151 	1,417,875 	1,368,072 	1,250,316 	1,205,800 	1,264,181 	1,113,854 	1,117,998 	1,028,399 	1,052,381
Total All Other Governmental Funds 	1,314,151 	1,417,875 	1,368,072 	1,250,316 	1,205,800 	1,264,181 	1,113,854 	1,117,998 	1,028,399 	1,052,381
Total Governmental Funds 	12,331,357	$ 	12,111,992	$ 	11,186,470	$ 	10,795,830	$ 	8,386,481	$ 	7,425,053	$ 	7,681,951	$ 	6,482,618	$ 	5,295,234	$ 	4,567,038	$
Source: DOF compilation of data.

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B OROUGH OF C ARLISLE
Financial Trends Information
Changes in Fund Balances, Governmental Funds
Last Ten Fiscal Years
93
Schedule 4
2020 	2019 	2018 	2017 	2016 	2015 	2014 	2013 	2012 	2011
Revenues
Real Estate 	5,135,094	$ 	5,095,199	$ 	5,031,877	$ 	5,006,110	$ 	4,671,284	$ 	4,657,470	$ 	4,596,658	$ 	4,638,189	$ 	4,338,373	$ 	4,337,361	$
Earned income 	2,106,826 	2,167,578 	1,975,567 	2,022,555 	1,908,801 	1,829,589 	1,968,913 	1,859,764 	1,836,866 	1,611,230
Real estate transfer 	457,392 	377,589 	415,258 	332,300 	259,974 	600,243 	239,041 	386,226 	392,562 	217,383
Other taxes 	760,487 	856,688 	795,630 	827,336 	780,753 	742,444 	763,919 	680,015 	656,488 	716,413
Licenses and permits 	447,615 	597,215 	665,090 	852,460 	622,317 	491,213 	500,148 	589,654 	722,507 	449,696
Fines and forfeits 	84,150 	116,636 	105,381 	146,529 	158,871 	186,816 	194,348 	223,413 	230,116 	238,128
Investment income 	94,104 	233,038 	172,592 	59,625 	41,814 	10,918 	10,842 	16,850 	10,554 	24,189
Rents 	63,102 	87,145 	72,280 	65,176 	61,100 	70,335 	72,080 	61,390 	58,439 	66,701
Intergovernmental 	3,074,540 	1,751,220 	1,670,641 	3,848,910 	2,491,977 	1,769,988 	1,774,800 	2,406,810 	1,830,971 	4,161,356
Charges for services 	73,246 	288,045 	289,281 	256,656 	287,878 	308,312 	253,192 	223,654 	220,924 	278,492
Other 	473,130 	457,212 	606,485 	515,220 	473,313 	807,869 	343,460 	600,554 	474,588 	620,055
Total revenues 	12,769,686 	12,027,565 	11,800,082 	13,932,877 	11,758,082 	11,475,197 	10,717,401 	11,686,519 	10,772,388 	12,721,004
Expenditures
General government 	1,480,701 	1,305,179 	1,187,412 	1,136,972 	1,269,990 	1,175,464 	1,304,287 	1,309,805 	1,332,775 	1,475,065
Public safety 	7,046,082 	6,321,814 	7,190,933 	7,573,884 	5,962,703 	6,331,307 	5,265,141 	5,259,574 	5,126,670 	4,992,324
Public services 	1,991,412 	2,237,355 	2,220,644 	2,310,652 	2,149,503 	1,801,269 	1,731,455 	1,643,060 	1,731,981 	3,944,214
Parks and recreation 	801,827 	1,017,117 	957,184 	1,671,909 	1,945,141 	922,966 	988,899 	1,295,093 	970,077 	947,962
Conservation and community development 	471,282 	477,951 	306,936 	462,562 	255,277 	422,213 	433,963 	590,664 	449,630 	760,971
Refund of prior year revenue 	- 	- 	- 	- 	- 	- 	- 	- 	- 	21,807
Debt service:
Bond issue costs 	- 	- 	- 	- 	- 	- 	- 	- 	- 	6,691
Principal 	604,921 	428,014 	481,318 	492,782 	492,821 	446,595 	439,231 	305,020 	380,200 	243,106
Interest and fiscal charges 	303,314 	294,379 	282,645 	212,653 	137,288 	146,346 	143,846 	227,146 	164,050 	133,703
Total expenditures 	12,699,539 	12,081,809 	12,627,072 	13,861,414 	12,212,723 	11,246,160 	10,306,822 	10,630,362 	10,155,383 	12,525,843
Excess (deficiency) of revenues over/(under)
expenditures 	70,147 	(54,244) 	(826,990) 	71,463 	(454,641) 	229,037 	410,579 	1,056,157 	617,005 	195,161
Other Financing Sources (Uses)
Transfers in 	876,648 	745,865 	282,638 	3,098,586 	190,569 	105,481 	190,989 	121,723 	148,673 	100,759
Transfers out 	(949,772) 	(745,865) 	(302,049) 	(3,099,718) 	(190,569) 	(105,481) 	(410,386) 	(106,867) 	(230,300) 	(140,022)
Proceeds from sale of capital assets 	14,451 	45,689 	88,903 	15,349 	78,283 	109,209 	18,900 	17,786 	4,181 	7,970
Refund of prior year expenditures 	- 	- 	- 	- 	- 	- 	- 	- 	- 	-
Bond reallocation 	- 	- 	- 	- 	- 	(605,764) 	- 	- 	- 	-
Bond discount/issue costs 	- 	- 	- 	- 	- 	- 	- 	- 	- 	23,340
Proceeds from issuance of bonds 	207,891 	934,077 	1,148,138 	6,208,108 	1,959,285 	10,620 	989,251 	4,397,198 	254,148 	868,649
Bond premium 	- 	- 	- 	669,967 	- 	- 	- 	- 	- 	-
Payment to refund bond 	- 	- 	- 	(4,554,406) 	(621,499) 	- 	- 	(4,279,680) 	- 	(866,262)
Total other financing sources (uses) 	149,218 	979,766 	1,217,630 	2,337,886 	1,416,069 	(485,935) 	788,754 	150,160 	176,702 	(5,566)
Net change in fund balances 	219,365	$ 	925,522	$ 	390,640	$ 	2,409,349	$ 	961,428	$ 	256,898)	( $ 	1,199,333	$ 	1,206,317	$ 	793,707	$ 	189,595	$
Debt service as a percentage of non-capital expenditures 	8.3% 	7.1% 	7.5% 	8.3% 	6.1% 	6.0% 	6.4% 	5.4% 	5.6% 	3.7%
Debt service as a percentage of total expenditures 	7.2% 	6.0% 	6.1% 	5.1% 	5.2% 	5.3% 	5.7% 	5.0% 	5.4% 	3.0%
Source: DOF compilation of data.
Fiscal Year

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B OROUGH OF C ARLISLE
Revenue Capacity Information
Assessed Value and Estimated Actual Value of Taxable Property
Last Ten Fiscal Years
94
Schedule 5
Fiscal Year
Total Assessed
Value of Real
Property
Real Property
Exemptions
Percentage of
Exemptions
Assessed Value of
Taxable Real
Property
Percentage
Change from
Previous year
Total Direct
Tax Rate
Total Direct
Fire Tax Rate
(included in Total
Direct Tax Rate)
Estimated
Actual Taxable
Value
2020 	2,016,214,100	$ 	527,352,200	$ 	26.2% 	1,489,047,900	$ 	0.32% 	3.50 	0.44 	1,489,047,900	$
2019 	2,011,591,600 	527,352,200 	26.2% 	1,484,239,400 	0.66% 	3.50 	0.44 	1,484,239,400
2018 	2,003,339,400 	528,826,200 	26.4% 	1,474,513,200 	1.91% 	3.50 	0.44 	1,474,513,200
2017 	1,953,893,400 	507,038,700 	26.0% 	1,446,854,700 	0.28% 	3.50 	0.44 	1,446,854,700
2016 	1,947,489,000 	504,732,700 	25.9% 	1,442,756,300 	1.01% 	3.28 	0.22 	1,442,756,300
2015 	1,937,063,700 	508,795,200 	26.3% 	1,428,268,500 	-0.17% 	3.28 	0.22 	1,428,268,500
2014 	1,928,046,730 	497,336,500 	25.8% 	1,430,710,230 	-0.63% 	3.28 	0.22 	1,430,710,230
2013 	1,931,196,600 	491,391,400 	25.4% 	1,439,805,200 	0.37% 	3.28 	0.22 	1,439,805,200
2012 	1,916,182,800 	481,665,500 	25.1% 	1,434,517,300 	-0.35% 	3.06 	0.00 	1,434,517,300
2011 	1,919,045,100 	479,440,200 	25.0% 	1,439,604,900 	23.14% 	3.06 	0.00 	1,439,604,900
Source: DOF anaylsis of county assessment data.

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B OROUGH OF C ARLISLE
Revenue Capacity Information
Direct and Overlapping Property Tax Rates
Last Ten Fiscal Years (rate per $ 1,000 of assessed value)
95
Schedule 6
Borough of Carlisle 	Overlapping Rates (a)
Fiscal
Year 	Operating Millage
Fire Tax
Millage
Total
Direct
Cumberland
County Operating
Millage
Cumberland
County Library
Millage
Total
County
Millage
Carlisle Area
School District
Operating Millage
Total Overlapping
Rate
Borough
Percentage of
Total
2020 	3.058 	0.437 	3.495 	2.195 	0.166 	2.361 	15.353 	21.209 	16.48%
2019 	3.058 	0.437 	3.495 	2.195 	0.166 	2.361 	14.906 	20.762 	16.83%
2018 	3.058 	0.437 	3.495 	2.195 	0.166 	2.361 	14.472 	20.328 	17.19%
2017 	3.058 	0.437 	3.495 	2.195 	0.166 	2.361 	14.037 	19.893 	17.57%
2016 	3.058 	0.217 	3.275 	2.195 	0.143 	2.338 	13.641 	19.254 	17.01%
2015 	3.058 	0.217 	3.275 	2.195 	0.143 	2.338 	13.244 	18.857 	17.37%
2014 	3.058 	0.217 	3.275 	2.195 	0.143 	2.338 	12.933 	18.546 	17.66%
2013 	3.058 	0.217 	3.275 	2.131 	0.143 	2.274 	12.606 	18.155 	18.04%
2012 	3.058 	0.000 	3.058 	1.902 	0.143 	2.045 	12.371 	17.474 	17.50%
2011 	3.058 	0.000 	3.058 	1.902 	0.143 	2.045 	12.260 	17.363 	17.61%
Source: DOF analysis of borough, county, and school district data.
a Overlapping rates are those of local and county governments that apply to property owners within the Borough of Carlisle.

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B OROUGH OF C ARLISLE
Revenue Capacity Information
Principal Property Taxpayers
Current Year and Ten Years Ago
96
Schedule 7
2020 	2011
Taxpayer
Taxable
Assessed Value 	Rank
Percentage of
Total Borough
Taxable
Assessed Value
Taxable
Assessed Value 	Rank
Percentage of
Total Borough
Taxable
Assessed
Value
LIT Industrial LP 	42,500,000	$ 	1 	2.9% 	45,800,000	$ 	1 	3.2%
Carlisle Corporation 	37,838,000 	2 	2.5% 	36,925,000 	2 	2.6%
Carlisle Commons LLC 	30,704,500 	3 	2.1% 	31,144,500 	3 	2.2%
Allen Distribution 	27,307,000 	4 	1.8% 	29,689,700 	4 	2.1%
KTRPA Cent LLC 	19,300,000 	5 	1.3%
Giant Food Stores LLC 	18,300,000 	6 	1.2%
Ross Stores Pennsylvania LP 	15,975,000 	7 	1.1% 	15,000,000 	6 	1.0%
Patriarch Seven Gables LP 	11,800,000 	8 	0.8%
Headlands Realty Corp. 	11,603,000 	9 	0.8% 	11,603,000 	9 	0.8%
Clover-Carlisle LLC 	10,500,000 	10 	0.7%
RA Carlisle, LLC 	13,751,600 	7 	1.0%
Kimco Carlisle LP 	13,250,000 	8 	0.9%
Cedar-Carlisle LLC 	10,500,000 	10 	0.7%
Carlisle 44 LP 	16,267,500 	5 	1.1%
Total 	225,827,500	$ 	15.2% 	223,931,300	$ 	15.6%
Total Taxable Assessed Value 	1,489,047,900	$ 	1,439,604,900	$
Source: DOF analysis of county assessment data.

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B OROUGH OF C ARLISLE
Revenue Capacity Information
Property Tax Levies and Collections
Last Ten Fiscal Years
97
Schedule 8
Collected Within the Fiscal
Year of Levy 	Total Collections to Date
Fiscal
Year
Taxes Levied for
the Fiscal Year
Fire Tax
Levied for the
Fiscal Year
Total Direct Tax
Levied for the
Fiscal Year
Amount Percentage
of Levy
Collections in
Subsequent Years Amount Percentage
of Levy
2020 	4,538,805	$ 	648,613	$ 	5,187,418	$ 	5,046,122	$ 	97.3% 	n/a 	5,046,122 	97.3%
2019 	4,529,395 	647,269 	5,176,664 	5,046,122 	97.5% 	65,021 	5,111,143 	98.7%
2018 	4,452,411 	636,268 	5,088,679 	4,968,809 	97.6% 	100,314 	5,069,123 	99.6%
2017 	4,415,984 	631,053 	5,047,037 	4,948,035 	98.0% 	66,741 	5,014,776 	99.4%
2016 	4,411,948 	313,078 	4,725,026 	4,644,586 	98.3% 	145,681 	4,725,026 	100.0%
2015 	4,360,781 	309,449 	4,670,230 	4,554,455 	97.5% 	117,857 	4,670,230 	100.0%
2014 	4,375,112 	310,466 	4,685,578 	4,564,907 	97.4% 	122,782 	4,685,578 	100.0%
2013 	4,397,855 	312,080 	4,709,935 	4,585,653 	97.4% 	116,169 	4,701,822 	99.8%
2012 	4,389,236 	- 	4,389,236 	4,272,661 	97.3% 	124,124 	4,389,236 	100.0%
2011 	4,402,312 	- 	4,402,312 	4,231,007 	96.1% 	46,688 	4,277,695 	97.2%
Source: DOF analysis of borough data.

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B OROUGH OF C ARLISLE
Debt Capacity Information
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
98
Schedule 9
Governmental Activities 	Business‐Type Activities
Fiscal
Year
General
Obligation
Bonds
General
Obligation
Notes
General
Obligation
Bonds
General
Obligation
Notes
Total Primary
Government 	Per Capita
2020 	5,453,513	$ 	2,589,799	$ 	17,265,126	$ 	8,098,307	$ 	33,406,745	$ 	5.69% 	1,744
2019 	6,049,683 	2,442,869 	18,499,431 	8,730,346 	35,722,329 	5.68% 	1,869
2018 	6,419,262 	1,619,438 	19,350,327 	9,876,700 	37,265,727 	6.19% 	1,950
2017 	6,874,739 	549,351 	20,375,325 	10,685,650 	38,485,065 	7.39% 	2,024
2016 	- 	5,596,538 	- 	19,407,966 	25,004,504 	4.81% 	1,320
2015 	714,893 	4,056,956 	7,359,460 	8,644,615 	20,775,924 	4.13% 	1,098
2014 	787,277 	5,028,220 	8,104,914 	8,063,510 	21,983,921 	4.52% 	1,162
2013 	856,138 	4,411,248 	8,813,890 	7,331,170 	21,412,446 	4.43% 	1,139
2012 	876,987 	4,579,810 	9,025,880 	7,360,192 	21,842,869 	4.59% 	1,162
2011 	699,924 	4,704,479 	9,537,496 	3,156,431 	18,098,330 	3.83% 	969
Source: DOF analysis of data.
Percentage
of Personal
Income

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B OROUGH OF C ARLISLE
Debt Capacity Information
Ratios of General Bonded Debt Outstanding
Last Ten Fiscal Years
99
Schedule 10
Fiscal
Year
General Obligation
Bonds
General Obligation
Notes 	Total
Percentage of Actual
Taxable Value (a)
of Property 	Per Capita
2020 	22,718,639	$ 	10,688,106	$ 	33,406,745	$ 	2.24% 	1,744
2019 	24,549,114 	11,173,215 	35,722,329 	2.41% 	1,869
2018 	25,769,589 	11,496,138 	37,265,727 	2.53% 	1,950
2017 	27,250,064 	11,235,001 	38,485,065 	2.66% 	2,024
2016 	- 	25,004,504 	25,004,504 	1.73% 	1,320
2015 	8,074,353 	12,701,571 	20,775,924 	1.45% 	1,098
2014 	8,892,191 	13,091,730 	21,983,921 	1.54% 	1,162
2013 	9,670,028 	11,742,418 	21,412,446 	1.49% 	1,139
2012 	9,902,867 	11,940,002 	21,842,869 	1.52% 	1,162
2011 	10,237,420 	7,860,910 	18,098,330 	1.26% 	969
(a) See Schedule 5 for the Borough's property value data.
Source: DOF analysis of data.

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B OROUGH OF C ARLISLE
Debt Capacity Information
Direct and Overlapping Governmental Activities Debt
December 31, 2020
100
Schedule 11
Jurisdiction
Total Debt
Outstanding
Percentage
Applicable to the
Borough
(a)
Amount Applicable
to the Borough
Direct
Borough of Carlisle -
Governmental activities debt 	8,043,312	$ 	100.0% 	8,043,312	$
Overlapping
Carlisle Area School District 	48,398,940 	60.9% 	29,474,954
Cumberland County 	28,830,000 	7.9% 	2,277,570
Total Overlapping Debt 	77,228,940 	31,752,524
Total 	85,272,252	$ 	39,795,836	$
Source: DOF analysis of borough, county, and school district data.
(a) Percentages calculated by dividing borough's assessed value by school district and county
assessed values.

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B OROUGH OF C ARLISLE
Debt Capacity Information
Legal Debt Margin Information
Last Ten Fiscal Years
101
Schedule 12
Legal Debt Margin Calculation for Fiscal Year 2020
Borrowing Base Revenues:
2018 	24,495,254	$
2019 	27,786,657
2020 	25,185,407
77,467,318	$
Average Borrowing Base Revenue 	25,822,439	$
Debt Limit Percentage 	250.0%
Debt Limit 	64,556,098	$
Less: Total Amount of Debt
Applicable to Debt Limit 	28,410,745
Legal Debt Margin 	36,145,353	$
2020 	2019 	2018 	2017 	2016 	2015 	2014 	2013 	2012 	2011
Debt Limit 	64,556,098	$ 	63,278,220	$ 	58,615,065	$ 	55,992,161	$ 	53,520,993	$ 	51,934,423	$ 	50,831,658	$ 	49,723,355	$ 	47,992,671	$ 	45,814,353	$
Total Amount of Debt Applicable
to Debt Limit 	28,410,745 	30,725,329 	29,878,139 	30,896,001 	24,948,728 	20,530,809 	21,983,921 	21,412,446 	21,842,869 	18,219,041
Legal Debt Margin 	36,145,353	$ 	32,552,891	$ 	28,736,926	$ 	25,096,160	$ 	28,572,265	$ 	31,403,614	$ 	28,847,737	$ 	28,310,909	$ 	26,149,802	$ 	27,595,312	$
Total Amount of Debt Applicable
to Debt Limit as a percentage
of debt limit 	44.01% 	48.56% 	50.97% 	55.18% 	46.61% 	39.53% 	43.25% 	43.06% 	45.51% 	39.77%
Source: DOF analysis of data.
Fiscal Year

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B OROUGH OF C ARLISLE
Demographic and Economic Information
Demographic and Economic Statistics
Last Ten Fiscal Years
102
Schedule 13
Fiscal Year 	Population (a)
Personal
Income
Per Capita
Income
School
Enrollment
(b)
Number of
Dropouts
(b)
Dropouts as a
Percentage of
Enrollment
Unemployment
Rate (c)
2020 	19,153 	587,288,439	$ 	30,663	$ 	4,876 	7 	0.14% 	5.60%
2019 	19,116 	628,706,124 	32,889 	5,247 	33 	0.63% 	3.70%
2018 	19,113 	601,600,788 	31,476 	5,179 	32 	0.62% 	3.20%
2017 	19,014 	520,907,544 	27,396 	5,106 	33 	0.65% 	4.20%
2016 	18,945 	519,775,020 	27,436 	5,101 	34 	0.67% 	4.20%
2015 	18,916 	503,657,416 	26,626 	5,175 	29 	0.56% 	4.20%
2014 	18,916 	485,952,040 	25,690 	5,080 	33 	0.65% 	4.10%
2013 	18,800 	482,972,000 	25,690 	5,099 	25 	0.49% 	6.50%
2012 	18,800 	476,091,200 	25,324 	4,852 	42 	0.87% 	7.20%
2011 	18,682 	472,430,416 	25,288 	4,802 	26 	0.54% 	7.20%
(a) Census Bureau-American Community Survey.
(b) Carlisle Area School District.
(c) PA Department of Labor and Inustry.
Source: DOF analysis of data.

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B OROUGH OF C ARLISLE
Demographic and Economic Information
Principal Employers
Current Year and Ten Years Ago
103
Schedule 14
2020 	2011
Employer 	Employees 	Rank
Percentage
of Total
Borough
Employment 	Employees 	Rank
Percentage
of Total
Borough
Employment
United Parcel Service Inc 	2,624 	1 	8.5%
Elwood Staffing Services Inc. 	2,194 	2 	7.1%
Dickinson College 	1,542 	3 	5.0% 	3,282 	1 	15.5%
Giant Food Stores LLC 	1,141 	4 	3.7% 	1,720 	2 	8.1%
Ross Dress For Less Inc. 	1,072 	5 	3.5% 	769 	6 	3.6%
Masterbrand Cabinets Inc 	1,005 	6 	3.3%
Staffing Solution Southeast 	943 	7 	3.1%
Manpower International 	852 	8 	2.8%
Cumberland Courty House 	711 	9 	2.3% 	865 	5 	4.1%
Aerotek Inc 	657 	10 	2.1%
Carlisle Area School District 	1,222 	3 	5.8%
United Church of Christ Homes 	399 	8 	1.9%
Carlisle Family YMCA 	381 	9 	1.8%
Randstand Employment 	883 	4 	4.2%
Carlisle Construction Materials 	437 	7 	2.1%
Carlisle Transportation Products 	303 	10 	1.4%
12,741 	25.7% 	10,261 	48.4%
Total Borough Employment 	30,792 	21,195
Source: DOF analysis of Cumberland Couny Tax Bureau data.

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B OROUGH OF C ARLISLE
Operating Information
Full‐Time Equivalent Borough Employees by Function/Program
Last Ten Fiscal Years
104
Schedule 15
2020 	2019 	2018 	2017 	2016 	2015 	2014 	2013 	2012 	2011
Function/program
General Government
Borough Manager's Office 	4.00 	3.00 	4.00 	4.00 	4.00 	3.00 	3.00 	3.00 	3.00 	3.00
Department of Finance 	4.50 	5.00 	6.50 	6.50 	6.50 	5.00 	5.00 	5.50 	5.00 	4.50
Tax Collection 	1.00 	1.00 	1.00 	0.00 	0.00 	0.00 	0.00 	0.75 	0.00 	0.50
Human Resources/Risk Management 	1.00 	1.00 	1.00 	1.00 	1.00 	1.00 	1.00 	1.00 	1.00 	1.00
Buildings and Plants 	0.00 	0.00 	0.00 	0.00 	0.00 	0.00 	0.00 	0.00 	0.00 	1.00
Public Safety
Police Department 	38.00 	36.00 	34.50 	35.00 	35.00 	35.00 	37.00 	37.00 	33.50 	37.00
Fire Department 	0.50 	0.50 	0.50 	0.50 	0.50 	1.00 	1.00 	1.00 	0.50 	0.50
Public Works
Administration & Engineering Division 	3.00 	4.00 	4.00 	4.00 	4.00 	5.00 	5.00 	5.00 	5.00 	4.00
Operations Division 	10.00 	9.00 	23.00 	23.00 	23.00 	8.00 	9.50 	9.50 	9.50 	10.00
Planning & Codes Division 	4.75 	4.00 	5.00 	5.00 	5.00 	4.00 	4.00 	4.00 	4.00 	4.00
Parks and Recreation 	8.25 	14.00 	8.50 	8.50 	8.50 	8.50 	8.50 	9.00 	8.00 	8.00
Water 	13.50 	14.00 	8.00 	8.00 	9.00 	15.00 	16.50 	16.50 	18.00 	16.00
Sewer 	21.25 	20.50 	18.00 	18.00 	15.00 	25.00 	25.00 	23.50 	23.50 	26.00
Stormwater 	4.00 	4.00 	0.00 	0.00 	0.00 	0.00 	0.00 	0.00 	0.00 	0.00
Parking 	2.25 	4.00 	3.50 	3.50 	3.50 	3.50 	3.00 	3.00 	1.00 	1.50
Total Employment 	116.00 	120.00 	117.50 	117.00 	115.00 	114.00 	118.50 	118.75 	112.00 	117.00
Source: DOF analysis of data.

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B OROUGH OF C ARLISLE
Operating Information
Operating Indicators by Function/Program
Last Ten Fiscal Years
105
Schedule 16
2020 	2019 	2018 	2017 	2016 	2015 	2014 	2013 	2012 	2011
Function/program
General Government
Real estate tax certifications 	853 	734 	533 	782 	702 	713 	n/a 	920 	462 	1,101
Public Safety
Arrests 	872 	1,249 	1,158 	1,100 	1,351 	1,665 	1,014 	1,542 	1,545 	1,785
Parking violations 	7,229 	8,688 	7,696 	6,863 	5,636 	13,053 	15,627 	7,108 	7,451 	4,772
Traffic violations 	1,498 	1,457 	2,580 	1,610 	1,962 	2,312 	2,221 	2,355 	2,681 	2,578
Calls for service 	20,028 	22,493 	22,230 	24,103 	21,487 	25,319 	19,791 	18,113 	17,967 	17,467
Police vehicles 	18 	19 	19 	19 	19
Fire responses 	467 	510 	528 	456 	534 	597 	547 	567 	522 	530
Building-related permits issued 	382 	999 	1,082 	1,254 	910 	1,031 	831 	1,014 	838 	1,335
Public Services
Miles of streets resurfaced 	2.36 	2.40 	2.49 	2.40 	1.56 	1.00 	3.00 	3.00 	4.00 	7.00
Parks and Recreation
Community pool attendance 	- 	19,752 	16,941 	17,316 	20,017 	19,770 	17,085 	19,099 	22,634 	22,965
Number of seasonal programs 	82 	168 	147 	160 	224 	170 	163 	135 	156 	113
Water
New connections 	9 	68 	67 	17 	9 	4 	6 	4 	6 	12
Water main breaks 	18 	33 	15 	13 	21 	20 	28 	20 	7 	20
Consumption (mgd) 	2.17 	2.25 	2.48 	2.34 	2.69 	2.92 	2.48 	2.05 	2.28 	2.42
Sewer
Sewage treatment (mgd) 	2.68 	4.10 	4.32 	2.58 	2.96 	3.22 	3.37 	2.91 	3.48 	4.45
Treatment capacity (in gallons) 	7 	7 	7 	7 	7 	7 	7 	7 	7 	7
Parking
Average daily parking meter revenue 	435 	694 	725 	700 	673 	660 	579 	527 	551 	526
Source: DOF compilation of data.

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B OROUGH OF C ARLISLE
Capital Asset Statistics by Function/Program
Last Ten Years
106
Schedule 17
2020 	2019 	2018 	2017 	2016 	2015 	2014 	2013 	2012 	2011
Function/program
Public Safety
Police stations 	1 	1 	1 	1 	1 	1 	1 	1 	1 	1
Police vehicles 	18 	19 	19 	19 	19 	19 	19 	19 	19 	18
Fire stations 	2 	2 	2 	2 	2 	2 	2 	2 	2 	2
Fire vehicles 	7 	7 	7 	7 	7 	7 	7 	7 	6 	6
Public Services
Borough streets (in miles) 	56.7 	56.7 	56.7 	56.7 	56.7 	56.7 	56.7 	56.3 	56.3 	56.3
Number of traffic lighted intersections 	43 	43 	43 	43 	43 	43 	43 	43 	43 	43
Parks and Recreation
Number of parks 	17 	17 	17 	17 	17 	17 	18 	18 	18 	18
Acreage of park land 	163 	163 	163 	163 	163 	163 	181 	181 	181 	181
Number of community centers 	1 	1 	1 	1 	1 	1 	1 	1 	1 	1
Water
Water mains (in miles) 	77.2 	77.2 	77.2 	77.2 	77.2 	77.2 	76.5 	76.5 	76.5 	76.5
Fire hydrants 	635 	634 	630 	630 	630 	630 	557 	555 	555 	555
Storage capacity (in million gallons) 	5.8 	5.8 	5.8 	5.8 	5.8 	5.8 	5.8 	5.8 	5.8 	5.8
Sewer
Sanitary sewers (in miles) 	69.5 	69.5 	69.5 	69.5 	69.5 	69.5 	68.9 	68.9 	68.9 	68.9
Storm sewers (in miles) 	28.5 	28.5 	28.5 	28.5 	28.5 	28.5 	28.0 	28.0 	28.0 	28.0
Treatment capacity (in gallons) 	7.0 	7.0 	7.0 	7.0 	7.0 	7.0 	7.0 	7.0 	7.0 	7.0
Parking
Number of parking lots 	7 	7 	6 	6 	6 	6 	6 	6 	6 	6
Number of street parking metered spaces 	669 	669 	664 	664 	664 	664 	664 	654 	655 	655
Number of off-street parking metered spc 	114 	114 	132 	132 	132 	132 	132 	132 	122 	122
Number of parking garages 	1 	1 	1 	1 	1 	1 	1 	1 	1 	1
Source: DOF compilation of data

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S INGLE A UDIT

-- 128 of 137 --

B OROUGH OF C ARLISLE
Schedule of Expenditures of Federal Awards
Year Ended December 31, 2020
107
Total
Pass Through 	Grant 	Applicant 	Cash 	Accrual 	Passed‐through
Grantor Program Title 	CFDA Grantor's Number Year 	Identifier Contract 	Receipts 	Expenditures to Subrecipients
U.S. Department of Treasury
Passed through Cumberland County
Coronavirus Relief Fund 	COVID-19 County Relief Block Grant 	I 	21.019 	C000073998 	2020 	N/A 	-	$ 	258,693	$ 	-	$
Total U.S. Department of Treasury 	- 	258,693 	-
U.S. Department of Environmental Protection Agency
Passed through Pennsylvania Department of Environmental Protection
Chesapeake Bay Program 	DEP Stormwater BMP Grant 	I 	66.466 	4100078797 	2017 	N/A 	54,599	$ 	-	$ 	-	$
Total U.S. Department of Environmental Protection Agency 	54,599 	- 	-
U.S. Department of Justice
Bulletproof Vest Partnership Program 	D 	16.607 	N/A 	2018 	BA-3A00S-SM02 	1,770 	1,770 	-
Bulletproof Vest Partnership Program 	D 	16.607 	N/A 	2019 	BA-3A00S-SM02 	3,046 	3,046 	-
Total U.S. Department of Justice 	4,816 	4,816 	-
U.S. Department of Transportation
National Infrastructure Investments 	FY 2016 TIGER Discretionary Grant 	D 	20.933 	N/A 	2016 MM-G-19-20-CAR-TIGER 	606,742 	733,319 	-
Total U.S. Department of Transportation 	606,742 	733,319 	-
U.S. Department of Housing and Urban Development Program
Community Development Block Grant Cluster
Community Development Block Grant 	D 	14.218 	2020 	B-20-MC-42-0022 	411,580 	426,686 	-
Community Development Block Grant - CARES 	D 	14.218 	2020 	B-20-MC-42-0022 	149,750 	149,750 	-
Total Community Development Block Grant Cluster 	561,330 	576,436 	-
Passed through PA DCED
Home Investment Partnerships Program 	HOME CHDO Operating 	I 	14.239 	C000069523 	2017 	N/A 	- 	14,000 	-
Home Investment Partnerships Program 	HOME CHDO Operating 	I 	14.239 	C000070775 	2018 	N/A 	- 	12,500 	-
- 	26,500 	-
Total U.S. Department of Housing and Urban Development Program 	561,330 	602,936 	-
Total Federal Receipts/Expenditures 	1,227,487	$ 	1,599,764	$ 	‐	$

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B OROUGH OF C ARLISLE
Notes to Schedule of Expenditures of Federal Awards
Year Ended December 31, 2020
108
N OTE 1 	REFERENCES TO S CHEDULE OF E XPENDITURES OF F EDERAL A WARDS
(I) 	Indirect Funding
(D) 	Direct Funding
N OTE 2 	S IGNIFICANT ACCOUNTING P OLICIES
Basis of Accounting
The schedule of expenditures of federal awards is presented using the modified accrual basis in
accordance with accounting principles prescribed by the Pennsylvania Department of
Transportation, which conform to generally accepted accounting principles. Expenditures are
recognized in the accounting period in which the liability is incurred, if measurable. Revenues
designated for payment of specific Township expenditures are recognized when the related
expenditure is incurred. Any excess of revenue or expenditures at year-end is recorded as
accounts payable or a receivable, respectively.
Indirect Cost Rate
The Borough has elected not to use the 10% de minimus indirect cost rate for its federal
programs.

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109
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 Mayor and Borough Council
Borough of Carlisle, Pennsylvania
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, the aggregate discretely presented component
units, each major fund, and the aggregate remaining fund information of the Borough of Carlisle,
Pennsylvania, as of and for the year ended December 31, 2020, and the related notes to the financial
statements, which collectively comprise the Borough of Carlisle, Pennsylvania’s basic financial
statements, and have issued our report thereon dated July 27, 2021.
Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the Borough of
Carlisle, Pennsylvania’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 Borough of Carlisle, Pennsylvania’s internal control. Accordingly, we do not express
an opinion on the effectiveness of the Borough of Carlisle, Pennsylvania’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 may exist that have not been identified.

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110
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Borough of Carlisle,
Pennsylvania’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.
Carlisle, Pennsylvania
July 27, 2021

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111
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE FOR EACH MAJOR
PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE REQUIRED BY
THE UNIFORM GUIDANCE
To the Mayor and Borough Council
Borough of Carlisle, Pennsylvania
REPORT ON COMPLIANCE FOR EACH MAJOR FEDERAL PROGRAM
We have audited the Borough of Carlisle, Pennsylvania’s compliance with the types of
compliance requirements described in the OMB Compliance Supplement that could have a direct and
material effect on each of the Borough of Carlisle, Pennsylvania’s major federal programs for the year
ended December 31, 2020. Borough of Carlisle, Pennsylvania’s major federal programs are identified in
the summary of auditor’s results section of the accompanying schedule of findings and questioned
costs.
Management’s Responsibility
Management is responsible for compliance with federal statutes, regulations, and the terms and
conditions of its federal awards applicable to its federal programs.
Auditor’s Responsibility
Our responsibility is to express an opinion on compliance for each of the Borough of Carlisle,
Pennsylvania’s major federal programs based on our audit of the types of compliance requirements
referred to above. We conducted our audit of compliance in accordance with auditing standards
generally accepted in the United States of America; 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 Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Those
standards and the Uniform Guidance require that we plan and perform the audit to obtain reasonable
assurance about whether noncompliance with the types of compliance requirements referred to above
that could have a direct and material effect on a major federal program occurred. An audit includes
examining, on a test basis, evidence about the Borough of Carlisle, Pennsylvania’s compliance with
those requirements and performing such other procedures as we considered necessary in the
circumstances.
We believe that our audit provides a reasonable basis for our opinion on compliance for each
major federal program. However, our audit does not provide a legal determination of the Borough of
Carlisle, Pennsylvania’s compliance.

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112
Opinion on Each Major Federal Program
In our opinion, the Borough of Carlisle, Pennsylvania, complied, in all material respects, with the
types of compliance requirements referred to above that could have a direct and material effect on each
of its major federal programs for the year ended December 31, 2020.
REPORT ON INTERNAL CONTROL OVER COMPLIANCE
Management of the Borough of Carlisle, Pennsylvania, is responsible for establishing and
maintaining effective internal control over compliance with the types of compliance requirements
referred to above. In planning and performing our audit of compliance, we considered the Borough of
Carlisle, Pennsylvania’s internal control over compliance with the types of requirements that could
have a direct and material effect on each major federal program to determine the auditing procedures
that are appropriate in the circumstances for the purpose of expressing an opinion on compliance for
each major federal program 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
internal control over compliance. Accordingly, we do not express an opinion on the effectiveness of the
Borough of Carlisle, Pennsylvania’s 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 a 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 first paragraph of this section and was not designed to identify all deficiencies in internal control
over compliance that might be material weaknesses or significant deficiencies. We did not identify any
deficiencies in internal control over compliance that we consider to be material weaknesses. However,
material weaknesses may exist that have not been identified.
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.
Carlisle, Pennsylvania
July 27, 2021

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B OROUGH OF C ARLISLE
Schedule of Findings and Questioned Costs
December 31, 2020
113
Section I ‐ Summary of Auditor’s Results
Financial Statement
Type of auditor’s report issued: 	Unmodified
Internal control over financial reporting:
 	Material weakness(es) identified: 	 Yes 	 No
 	Significant deficiencies identified? 	 Yes 	 None Reported
Noncompliance material to financial statement noted: 	 Yes 	 No
Federal Awards
Internal control over major programs:
 	Material weakness(es) identified? 	 Yes 	 No
 	Significant deficiencies identified? 	 Yes 	 No
Type of auditor’s report issued on compliance
For the major programs: 	Unmodified
 	Any audit findings disclosed that are required
to be reported in accordance with 2CFR Section 200.516? 	 Yes 	 No
Identification of the major programs:
CFDA Number(s) 	Name of Federal Program
20.933 	National Infrastructure Investments
Dollar threshold used to distinguish between
type A and type B programs? 	$750,000
Auditee qualified as low risk auditee? 	 Yes 	 No

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B OROUGH OF C ARLISLE
Schedule of Findings and Questioned Costs (Continued)
December 31, 2020
114
Section II – Financial Statement Findings
A. 	Significant Deficiency in Internal Control
None noted
B. 	Material Weaknesses in Internal Control
None noted
C. 	Compliance Findings
There were no compliance findings relating to the financial statement audit required to be
reported.
Section III – Federal Award Findings and Questioned Costs
A. 	Material Weaknesses in Internal Control Over Compliance
None noted
B. 	Compliance Findings
There were no findings relating to the major federal awards as required to be reported in
accordance with Uniform Guidance by 2 CFR Section 200.516.

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BOROUGH OF CARLISLE
“Committed To Excellence in Community Service”
Summary Schedule of Prior Audit Findings
December 31, 2020
115
Findings related to financial statements:
None noted
Findings related to federal awards:
A single audit was not performed in the prior year.

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