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Cabarrus County, North Carolina
<br />Reconciliation of the Statement of Revenues, Expenditures
<br />And Changes in Fund Balance to the Statement of Activities of Governmental Funds
<br />For the Year Ended June 30, 2011
<br />Net change in fund balances -total governmental funds
<br />Amounts reported for governmental activities in the statement of
<br />activities are different because:
<br />Governmental funds report capital outlays as expenditures. However, in the
<br />statement of activities, the cost of those assets is capitalized and depreciated
<br />over their estimated useful lives.
<br />Expenditures for capital assets
<br />Less current year depreciation
<br />Revenues in the statement of activities that do not provide current
<br />financial resources are not reported as revenues in the governmental funds.
<br />Ambulance
<br />Property Tax
<br />The effect of various miscellaneous transactions involving capital assets.
<br />Donation of capital assets
<br />Disposal of capital assets, net book value
<br />Debt proceeds provide current financial resources to governmental funds,
<br />but issuing debt increases long -term liabilities in the statement of net
<br />assets. Repayment of debt principal is an expenditure in the governmental
<br />funds, but the repayment reduces long -term liabilities in the statement of
<br />net assets. This amount is the net effect of these differences in the treatment of
<br />Debt proceeds
<br />Debt costs
<br />Amortization of current year debt premium
<br />Principal payments
<br />Disbursements for refunding
<br />Some expenses reported in the statement of activities do not require the use of
<br />current financial resources and therefore are not reported as expenditures in
<br />governmental funds.
<br />Compensated Absences
<br />LEO Pension Obligation
<br />OPEB Obligation
<br />Accrued Interest
<br />Amortization of current year debt costs
<br />The purpose of this adjustment is to recognize the net change in "unavailable"
<br />revenues. Under the modified accrual basis of accounting, revenues are
<br />not recognized unless they are deemed "available" to finance the expenditures
<br />of the current period. Accrual -basis recognition is not limited by availability, so
<br />certain revenues need to be reduced by the amounts that were unavailable
<br />at the beginning of the year and increased by the amounts that were unavailable at
<br />the end of the year. This adjustment records a net decrease in revenues -
<br />unavailable revenues at the end of the year exceed beginning unavailable revenues
<br />by this amount.
<br />Exhibit 4A
<br />Page 2 of 2
<br />$ (8,008,475)
<br />6,521,906
<br />(6,223,261) 298,645
<br />922,417
<br />563,727 1,486,144
<br />121,538
<br />(496,802)
<br />(35,800,860)
<br />412,111
<br />954,121
<br />22,937,295
<br />20,902,811
<br />(120,324)
<br />(127,661)
<br />(1,849,204)
<br />327,899
<br />(730,204)
<br />Internal service funds are used by management to charge the cost of workers' compensation
<br />and self- insured hospitalization systems to individual departments. (1,133,992)
<br />Changes in net assets of governmental activities
<br />The notes to the financial statements are an integral part of this statement.
<br />29
<br />(375,264)
<br />$ (826,958)
<br />9,405,478
<br />Attachment number 1
<br />1 -3 Page 150
<br />(2,499,494)
<br />(1,133,992)
<br />
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