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The notes to the financial statements are an integral part of this statement
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<br />Exhibit 2
<br />Cabarrus County, North Carolina
<br />Statement of Activities
<br />For the Year Ended
<br />June 30, 2012
<br />Program Revenues
<br />Net (Expense) Revenue and Changes in Net Assets
<br />Operating
<br />Capital
<br />Primary Government
<br />Charges for
<br />Grants and
<br />Grants and
<br />Governmental
<br />Business -Type
<br />Component
<br />Expenses
<br />Services
<br />Contributions
<br />Contributions
<br />Activities
<br />Activities
<br />Total
<br />Unit
<br />Function /Program Activities
<br />Primary Government:
<br />Governmental Activities:
<br />General government
<br />$ 21,918,726
<br />$ 2,576,452
<br />$ 750,094
<br />$
<br />$ (18,592,180)
<br />$
<br />$ (18,592,180) $
<br />Public safety
<br />39,222,178
<br />9,117,930
<br />974,200
<br />(29,130,048)
<br />(29,130,048)
<br />Econ. & physical development
<br />3,892,813
<br />36,062
<br />999,754
<br />(2,856,997)
<br />(2,856,997)
<br />Environmental protection
<br />583,112
<br />53,770
<br />8,425
<br />(520,917)
<br />(520,917)
<br />Human services
<br />39,614,182
<br />2,262,905
<br />17,595,622
<br />260,866
<br />(19,494,789)
<br />(19,494,789)
<br />Education
<br />66,152,595
<br />793,610
<br />743,081
<br />1,713,555
<br />(62,902,349)
<br />(62,902,349)
<br />Culture and recreation
<br />6,190,172
<br />1,064,273
<br />530,772
<br />-
<br />(4,595,127)
<br />(4,595,127)
<br />Interest on long -term debt
<br />18,448,722
<br />-
<br />-
<br />(18,448,722)
<br />(18,448,722)
<br />Total governmental activities
<br />196,022,500
<br />15,905,002
<br />21,601,948
<br />1,974,421
<br />(156,541,129)
<br />(156,541,129)
<br />Business -Type Activities:
<br />Solid Waste
<br />1,096,968
<br />704,647
<br />-
<br />-
<br />(392,321)
<br />(392,321)
<br />Total business -type activities
<br />1,096,968
<br />704,647
<br />-
<br />-
<br />(392,321)
<br />(392,321)
<br />Total primary government
<br />$ 197,119,468
<br />$ 16,609,649
<br />$ 21,601,948
<br />$ 1,974,421
<br />(156,541,129)
<br />(392,321)
<br />(156,933,450)
<br />Component Unit:
<br />Cabarrus Health Alliance
<br />$ 23.482.772
<br />$ 6.998,473
<br />$ 7,575.516
<br />$ 8,220,193
<br />-
<br />-
<br />(688,590)
<br />General Revenues:
<br />Property taxes
<br />135,600,306
<br />135,600,306
<br />Local option sales tax
<br />33,612,837
<br />33,612,837
<br />ABC revenues
<br />86,842
<br />-
<br />86,842
<br />Other taxes and licenses
<br />752,711
<br />350,141
<br />1,102,852
<br />-
<br />Investment earnings
<br />691,973
<br />8,495
<br />700,468
<br />2,176
<br />Donations
<br />382,368
<br />-
<br />382,368
<br />-
<br />Miscellaneous
<br />50,733
<br />50,733
<br />414,004
<br />Total general revenues
<br />excluding transfers
<br />171,177,770
<br />358,636
<br />171,536,406
<br />416,180
<br />Transfers
<br />25,615
<br />(25,615)
<br />-
<br />-
<br />Total general revenues
<br />and transfers
<br />171,203,385
<br />333,021
<br />171,536,406
<br />416,180
<br />Change in net assets
<br />14,662,256
<br />(59,300)
<br />14,602,956
<br />(272,410)
<br />Net assets - July 1
<br />(79,755,501)
<br />3,705,978
<br />(76,049,523)
<br />8,089,910
<br />Net assets - June 30
<br />$ (65,093.245)
<br />$ 3,646,678
<br />$ (61,446,567) $
<br />7,817.500
<br />The notes to the financial statements are an integral part of this statement
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