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Form 990 2011 CABARRUS COUNTY TOURISM AUTHORITY 26-2726341 Pa e12 <br />[ Rdd ,iX, ki Reconciliation of Net Assets <br />Check if Schedule O contains a response to any question in this Part XI 0 <br />1 Total revenue (must equal Part VIII, column (A), line 12) ............................................... ............................... <br />1 <br />3,829,4 . <br />2 Total expenses (must equal Part IX, column (A), line 25) ..... ......... ......... ......... ......... ............ .. .... <br />2 <br />3,873,946 . <br />3 Revenue less expenses. Subtract line 2 from line 1 ......... ......... .... . ... ..... . ... .... . .. .. ...-- ....- -..... <br />3 <br />—44,452 m <br />4 Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) .... ........ _...- ..__..... <br />4 <br />1 , 863,289 <br />5 <br />0 . <br />5 Other changes in net assets or fund balances (explain in Schedule O) .......................... ............................... <br />6 Net assets or fund balances at end of year. Combine lines 3, 4, and 5 must equal Part X, line 33, column B <br />6 <br />1 , 818,837 . <br />Financial Statements and Reporting <br />Check if Schedule O contains a response to a question in this Part XII - -- - - - - -- - - - - -- -- -- - - -- .. . ....... ............ ..... Eil <br />Yes <br />No <br />1 Accounting method used to prepare the Form 990: El Cash ® Accrual [71 Other <br />If the organization changed its method of accounting from a prior year or checked "Other," explain in Schedule O. <br />. ...... ...:::.::::.::::: <br />2a Were the organization's financial statements compiled or reviewed by an independent accountant? ..... .... .......... ... ... ....... .... <br />2a <br />X <br />2b <br />X <br />b Were the organization's financial statements audited by an independent accountant? ....... .......... ...... ...... ...... .. .... ..... ...... <br />c If "Yes" to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, <br />review, or compilation of its financial statements and selection of an independent accountant? .............. ............................... <br />2c <br />. X <br />............................... <br />............................... <br />............................... <br />If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O. <br />d If "Yes" to line 2a or 2b, check a box below to indicate whether the financial statements for the y ear were issued on a <br />separate basis, consolidated basis, or both: <br />' <br />® Separate basis Consolidated basis E71 Both consolidated and separate basis <br />3a As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit <br />Act and OMB Circular A -133? . ............................... <br />3a <br />X <br />b If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit <br />or audits, explain why in Schedule O and describe any steps taken to undergo such audits. ................. ............................... <br />3b <br />Form 990 (2011) <br />132012 <br />01 -23 -12 Attachment number 1 <br />12 <br />1 -2 Page 181 <br />