AG 2011 12 19 - Laserfiche WebLink

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Cabarrus County, North Carolina Notes to the Financial Statements For the Year Ended June 30, 2011 Prepaid items — portion of fund balance that is not an available resource because it represents the amount of payment of items that will be expensed in future fiscal years. Notes receivable — portion of fund balance that is not an available resource because it represents the long term portion of a note that will be collected in future fiscal years. Restricted Fund Balance This classification includes amounts that are restricted to specific purposes externally imposed by creditors or imposed by law. Stabilization by State statute — portion of fund balance that is not an available resource for appropriation in accordance with State law [G.S. 159- 8(a)]. Restricted for Public Safety — portion of fund balance restricted by revenue source for public safety related activities such as sheriff, fire, EMS and E -911. Restricted for Education — portion of fund balance restricted by revenue source to be used to support public education. Restricted for Cultural and Recreational — portion of fund balance restricted by revenue source for use for parks, libraries, arts and other related activities. Restricted fund balance at June 30, 2011 is as follows: Certificates of Qualified School Other General Participation 2009 Construction Bonds Governmental Purpose Fund Fund Fund Funds Stabilization by state statute $ 10,190,775 $ - $ - $ 178,082 Public safety - - - 5,026,278 Education - 15,853,431 14,639,218 1,001,962 Culture & recreation - - - 2,478 $ 10,190,775 $ 15,853,431 $ 14,639,218 $ 6,208,800 Committed Fund Balance This classification represents the portion of fund balance that can only be used for specific purposes imposed by majority vote by quorum of Cabarrus County's governing body (highest level of decision making authority, the Board of Commissioners). Any changes or removal of specific purpose restrictions requires majority action by the governing body. Committed for General Government — portion of fund balance committed by the governing board for Board of Elections, Register of Deeds, and other general government projects. Committed for Public Safety — portion of fund balance committed by the governing board for old jail facility and courthouse improvement projects. Committed for Economic & Physical Development — portion of fund balance committed by the governing board for economic incentives and projects. Committed for Environmental Protection — portion of fund balance committed by the governing board for soil and water projects. Committed for Human Services — portion of fund balance committed by the governing board for Aging, Cooperative Extension and Social Service projects. 46 Attachment number 1 1 -3 Page 168