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 To the General Fund from the Capital Reserve Capital Projects Fund for the purchase of real estate related to an economic incentive. 350,000 To the General Fund from the Emergency Telephone System Special Revenue Fund for the salary and benefits of a GIS mapping 74,502 employee. To the General Fund from the Cannon Memorial Capital Projects Fund for the Concord Library expansion project. 753,910 To the General Fund from the Justice Center Capital Projects Fund for debt service payments. 73 To the General Fund from the School Construction Capital Projects Fund for debt service payments. 34 To the General Fund from the Certificates of Participation 2009 Capital Projects Fund for debt service payments. 3,967,669 To the Capital Projects Fund from the Capital Reserve Capital Projects Fund for the purchase of communication radios. 336,000 To the School Construction Capital Projects Fund from the Public School Building Capital Projects Fund (Lottery Proceeds) for the construction of a middle school. 130,438 To the Community Development Special Revenue fund from the General Fund for Community Development projects. 40,000 To the Cabarrus Arena and Events Center Special Revenue Fund from the General Fund for the operations of the facility 600,000 To the Capital Reserve Capital Projects Fund from the Capital Projects Fund from the completion of the North Cabarrus Park project. 1,222 To the Small Projects Capital Project Fund from the General Fund for the collection of Deferred taxes and interest on Farm Land. 348,407 To the Worker's Compensation Internal Service Fund from the General Fund for the payment of claims 920,000 Total $ 8.462.255 M. Supplemental and Additional Supplemental One -Half of One Percent Local Government Sales and Use Tax State law (Chapter 105, Articles 40 and 42, of the North Carolina General Statutes) requires the County to use a portion of the proceeds of its supplemental and additional supplemental sales taxes, or local option sales taxes, for public school capital outlays or to retire public school indebtedness. During the fiscal year ended June 30, 2011 the County reported these local option sales taxes within its General Fund. The County expended the restricted portion of these taxes for public school capital outlays. N. Public School Building Capital Fund The Public School Building Capital Fund is funded using a portion of the corporate income taxes which are imposed on corporations doing business in the State. Each calendar quarter, the Department of Revenue shall remit to the State Treasurer for credit in the fund, an amount equal to the applicable fraction provided by the following table of 64 Attachment number 1 1 -3 Page 186