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• The General Fund received $7,926,722 in other financing sources from several capital project
<br />funds for payment of debt service.
<br />• The General Fund had budgeted fund balance appropriated of $15,281,401 that was not used
<br />during the fiscal year.
<br />• County departments were conservative in their spending and General Fund expenses at June 30,
<br />2012 were $8,162,440 under budget. The Landfill Enterprise Fund operating expenses were
<br />$541,144 under budget.
<br />Cabarrus County's Changes in Net Assets
<br />Figure 3
<br />Governmental activities
<br />Governmental activities increased Cabarrus County's net assets by $14,662,256 or by 18.5 %. Key
<br />elements of this net increase are as follows:
<br />19 Attachment number 1
<br />1 -3 Page 273
<br />Governmental
<br />Business -type
<br />Activities
<br />Activities
<br />Total
<br />2012 2011
<br />2011
<br />2012 2011
<br />Revenues:
<br />Program Revenues:
<br />Charges for services
<br />$ 15,905,002
<br />$ 15,997,636
<br />$ 704,647
<br />$ 858,132
<br />$ 16,609,649
<br />$ 16,855,768
<br />Operating grants and contributions
<br />21,601,948
<br />20,569,505
<br />-
<br />21,368
<br />21,601,948
<br />20,590,873
<br />Capital grants and contributions
<br />1,974,421
<br />544,096
<br />-
<br />23,740
<br />1,974,421
<br />567,836
<br />General revenues:
<br />Property taxes
<br />135,600,306
<br />136,733,389
<br />-
<br />-
<br />135,600,306
<br />136,733,389
<br />Local option sales tax
<br />33,612,837
<br />25,808,696
<br />-
<br />-
<br />33,612,837
<br />25,808,696
<br />ABC revenues
<br />86,842
<br />188,594
<br />-
<br />-
<br />86,842
<br />188,594
<br />Other taxes and licenses
<br />752,711
<br />642,337
<br />350,141
<br />343,908
<br />Investment earnings
<br />691,973
<br />1,019,648
<br />8,495
<br />8,205
<br />700,468
<br />1,027,853
<br />Donations
<br />382,368
<br />221,538
<br />-
<br />-
<br />382,368
<br />Miscellaneous
<br />50,733
<br />21,588
<br />-
<br />1,075
<br />50,733
<br />22,663
<br />Total revenues
<br />210,659,141
<br />201,747,027
<br />1,063,283
<br />1,256,428
<br />210,619,572
<br />201,795,672
<br />Governmental
<br />Business -type
<br />Activities
<br />Activities
<br />Total
<br />2012 2011
<br />717= 2011
<br />2012 2011
<br />Expenses:
<br />General government
<br />21,918,726
<br />21,750,176
<br />-
<br />-
<br />21,918,726
<br />21,750,176
<br />Public safety
<br />39,222,178
<br />36,043,142
<br />-
<br />-
<br />39,222,178
<br />36,043,142
<br />Economic and physical development
<br />3,892,813
<br />3,128,710
<br />-
<br />-
<br />3,892,813
<br />3,128,710
<br />Environmental protection
<br />583,112
<br />619,639
<br />-
<br />-
<br />583,112
<br />619,639
<br />Human services
<br />39,614,182
<br />38,015,497
<br />-
<br />-
<br />39,614,182
<br />38,015,497
<br />Education
<br />66,152,595
<br />77,221,156
<br />-
<br />-
<br />66,152,595
<br />77,221,156
<br />Cultural and recreation
<br />6,190,172
<br />6,161,896
<br />-
<br />-
<br />6,190,172
<br />6,161,896
<br />Interest on long -term debt
<br />18,448,722
<br />19,633,769
<br />-
<br />-
<br />18,448,722
<br />19,633,769
<br />Landfill
<br />-
<br />-
<br />1,096,968
<br />1,312,509
<br />1,096,968
<br />1,312,509
<br />Total expenses
<br />196,022,500
<br />202,573,985
<br />1,096,968
<br />1,312,509
<br />197,119,468
<br />203,886,494
<br />Increase (decrease) in net assets
<br />before transfers
<br />14,636,641
<br />(826,958)
<br />(33,685)
<br />(56,081)
<br />14,602,956
<br />(883,039)
<br />Transfers
<br />25,615
<br />-
<br />(25,615)
<br />-
<br />-
<br />-
<br />Increase (decrease) in net assets
<br />14,662,256
<br />(826,958)
<br />(59,300)
<br />(56,081)
<br />14,602,956
<br />(883,039)
<br />Net assets, July 1
<br />(79,755,501)
<br />(78,928,543)
<br />3,705,978
<br />3,762,059
<br />(76,049,523)
<br />(75,166,484)
<br />Net assets, June 30
<br />$(65,093,245)
<br />$(79,755,501)
<br />$ 3,646,678
<br />$ 3,705,978
<br />$(61,446,567)
<br />$ (76,049,523)
<br />Governmental activities
<br />Governmental activities increased Cabarrus County's net assets by $14,662,256 or by 18.5 %. Key
<br />elements of this net increase are as follows:
<br />19 Attachment number 1
<br />1 -3 Page 273
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