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Cabarrus County's Changes in Net Assets
<br />Figure 3
<br />Revenues:
<br />Program Revenues:
<br />Charges for services
<br />Operating grants and contributions
<br />Capital grants and contributions
<br />General revenues:
<br />Property taxes
<br />Local option sales tax
<br />ABC revenues
<br />Other taxes and licenses
<br />Investment earnings
<br />Donations
<br />Miscellaneous
<br />Total revenues
<br />Expenses:
<br />General government
<br />Public safety
<br />Economic and physical developmen
<br />Environmental protection
<br />Human services
<br />Education
<br />Cultural and recreation
<br />Interest on long -term debt
<br />Landfill
<br />Total expenses
<br />Governmental Business -type
<br />Activities Activities Total
<br />2011 2010 2.07.= 2010 2011 2010
<br />$ 15,997,636 $ 16,443,075 $ 858,132 $ 1,187,527 $ 16,855,768 $ 17,630,602
<br />20,569,505
<br />21,906,696
<br />21,368
<br />44,655
<br />20,590,873
<br />21,951,351
<br />544,096
<br />6,417,855
<br />23,740
<br />-
<br />567,836
<br />6,417,855
<br />136,733,389
<br />137,488,091
<br />-
<br />-
<br />136,733,389
<br />137,488,091
<br />25,808,696
<br />28,461,637
<br />-
<br />-
<br />25,808,696
<br />28,461,637
<br />188,594
<br />66,789
<br />-
<br />-
<br />188,594
<br />66,789
<br />642,337
<br />669,221
<br />343,908
<br />55,074
<br />1,019,648
<br />813,582
<br />8,205
<br />10,630
<br />1,027,853
<br />824,212
<br />221,538
<br />131,590
<br />-
<br />-
<br />221,538
<br />21,588
<br />32,893
<br />1,075
<br />19,143
<br />22,663
<br />52,036
<br />201,747,027
<br />212,431,429
<br />1,256,428
<br />1,317,029
<br />202,017,210
<br />212,892,573
<br />Governmental
<br />Business
<br />-type
<br />Activities
<br />Activities
<br />Total
<br />2011 2010
<br />2010
<br />2011
<br />2010
<br />21,750,176
<br />20,931,001
<br />-
<br />-
<br />21,750,176
<br />20,931,001
<br />36,043,142
<br />31,944,942
<br />-
<br />-
<br />36,043,142
<br />31,944,942
<br />1 3,128,710
<br />3,207,792
<br />-
<br />-
<br />3,128,710
<br />3,207,792
<br />619,639
<br />541,463
<br />-
<br />-
<br />619,639
<br />541,463
<br />38,015,497
<br />40,925,099
<br />-
<br />-
<br />38,015,497
<br />40,925,099
<br />77,221,156
<br />118,863,929
<br />-
<br />-
<br />77,221,156
<br />118,863,929
<br />6,161,896
<br />6,771,004
<br />-
<br />-
<br />6,161,896
<br />6,771,004
<br />19,633,769
<br />19,753,394
<br />-
<br />-
<br />19,633,769
<br />19,753,394
<br />-
<br />-
<br />1,312,509
<br />2,333,383
<br />1,312,509
<br />2,333,383
<br />202,573,985
<br />242,938,624
<br />1,312,509
<br />2,333,383
<br />203,886,494
<br />245,272,007
<br />Increase (decrease) in net assets (826,958) (30,507,195) (56,081) (1,016,354) (883,039) (31,523,549)
<br />Net assets, July 1 (78,928,543) (48,421,348) 3,762,059 4,778,413 (75,166,484) (43,642,935)
<br />Net assets, June 30 $(79,755,501) $(78,928,543) $ 3,705,978 $ 3,762,059 $(76,049,523) $ (75,166,484)
<br />Governmental activities
<br />Governmental activities decreased Cabarrus County's net assets by $826,958, thereby accounting for
<br />93.6% of the total decrease in the net assets of County. Key elements of this net decrease are as
<br />follows:
<br />Operating grants and contributions experienced a $1,337,191 or 6.1% decrease from FY 10 to FY 11.
<br />This decrease was due to State budget cuts in the day care program and the Federal Government ARRA
<br />fund distributions coming to an end.
<br />Capital grants and contributions experienced a net $5,873,759 or 91.5% decrease. During FY 10,
<br />$6,149,845 of Lottery Proceeds was received to build a new school and add a wing to an existing school.
<br />The funds were not received again in FY 11.
<br />Due to the slow economy, property and sales tax revenues declined by $754,702 (0.5 %) and $2,679,825
<br />(9.2 %) respectively.
<br />General Government expenditures increased $819,175 or 3.9% due to individual small personnel and
<br />operating increases including an increase contribution to the pension trust fund.
<br />19 Attachment number 1
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