CABARRUS COUNTY TOURISMA UTHORITY Exhibit 3
<br /> d/b/a/Cabarrus County Convention and Visitors Bureau
<br /> BALANCE SHEET- GOVERNMENTAL FUND
<br /> June 30,2016
<br /> Major Funds
<br /> Tourism Total
<br /> Capital Governmental
<br /> General Fund Reserve Fund Funds
<br /> ASSETS
<br /> Current Assets:
<br /> Cash and cash equivalents $ 1,439,110 $ 1,621,041 $ 3,060,151
<br /> Due from County 433,784 - 433,784
<br /> Accounts receivable-other 17,710 - 17,710
<br /> Total Current Assets 1,890,604 1,621,041 3,511,645
<br /> Total Assets $ 1,890,604 $ 1,621,041 $ 3,511,645
<br /> LIABILITIES AND FUND BALANCE
<br /> Current Liabilities:
<br /> Accounts payable $ 29,058 $ - $ 29,058
<br /> Accrued liabilities 82,260 - 82,260
<br /> Total Current Liabilities 111,318 - 111,318
<br /> Total Liabilities 111,318 - 111,318
<br /> Fund Balance:
<br /> Committed For:
<br /> Sports Development 176,890 - 176,890
<br /> Tourism Capital Reserves - 1,621,041 1,621,041
<br /> Unassigned 1,602,396 - 1,602,396
<br /> Total Fund Balance 1,779,286 1,621,041 3,400,327
<br /> Total Liabilities and Fund Balance $ 1,890,604 $ 1,621,041 $ 3,511,645
<br /> Amounts reported for governmental activities in the
<br /> statement of net position are different because:
<br /> Ending fund balance-governmental funds $ 3,400,327
<br /> Capital assets are not capitalized and are
<br /> expensed in the funds. 242,247
<br /> Deferred outflows of resources related to pensions 79,199
<br /> Net pension liability (83,701)
<br /> Deferred inflows of resources related to pensions (48,730)
<br /> Liabilities for compensated absences are not
<br /> reported in the funds. (50,936)
<br /> Net position of the governmental activities $ 3,538,406
<br /> The accompanying notes are an integral part of this statement.
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<br /> Attachment number 1 \n
<br /> 1-5 Page 157
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