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Cabarrus County, North CarolinaExhibit 5
<br />General Fund
<br />Statement of Revenues, Expenditures, and Changes in Fund Balances-Budget and Actual
<br />For the Year Ended June 30, 2012
<br />Budgeted Amounts
<br />ActualVariance with
<br />OriginalFinalAmountsFinal Budget
<br />Revenues:
<br /> Ad Valorem Taxes:
<br /> Taxes130,497,744$ 130,497,744$ 131,118,395$ 620,651$
<br /> Interest545,000 545,000 729,317 184,317
<br /> Other Taxes and Licenses28,977,215 28,977,215 34,360,229 5,383,014
<br /> Intergovernmental Revenues18,482,632 19,524,912 20,400,743 875,831
<br /> Permits and Fees2,514,500 2,519,180 3,506,244 987,064
<br /> Sales and Services9,646,651 9,064,454 10,073,950 1,009,496
<br /> Investment Earnings180,000 180,000 201,077 21,077
<br /> Miscellaneous185,425 306,269 578,124 271,855
<br /> Total revenues191,029,167 191,614,774 200,968,079 9,353,305
<br />Expenditures:
<br />Current:
<br /> General Government23,312,927 22,864,559 20,619,784 2,244,775
<br /> Public Safety30,982,392 32,296,959 30,933,465 1,363,494
<br /> Economic & Physical Development3,021,907 3,862,142 3,404,876 457,266
<br /> Environmental Protection305,221 346,211 321,619 24,592
<br /> Human Services38,574,074 38,932,675 35,935,100 2,997,575
<br /> Education56,436,584 56,936,668 56,336,935 599,733
<br /> Culture and Recreation3,481,785 3,855,977 3,617,739 238,238
<br />Debt service:
<br /> Principal retirement27,503,468 37,142,399 37,142,398 1
<br /> Interest and fees19,016,648 19,278,448 19,041,682 236,766
<br /> Total expenditures202,635,006 215,516,038 207,353,598 8,162,440
<br />Excess (deficiency) of revenues
<br /> over (under) expenditures (11,605,839) (23,901,264) (6,385,519) 17,515,745
<br />Other financing sources (uses):
<br />Transfers in 12,370,537 11,595,453 11,271,581 (323,872)
<br />Transfers out (764,698) (3,274,698) (3,165,346) 109,352
<br />Limited Obligation Bonds issued - 33,515,000 33,515,000 -
<br />Premium on Limited Obligation Bonds issued - 4,215,250 4,215,250 -
<br />Disbursement for Refunded COPS - (37,431,142) (37,431,142) -
<br />Fund balance appropriated - 15,281,401 - (15,281,401)
<br />Total other financing sources (uses) 11,605,839 23,901,264 8,405,343 (15,495,921)
<br />Net change in fund balance$ -$ - 2,019,824$ 2,019,824
<br />Fund balance, July 174,013,411
<br />Fund balance, June 30$ 76,033,235
<br />The notes to the financial statements are an integral part of this statement.
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