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Cabarrus County, North Carolina
<br />Balance Sheet
<br />Governmental Funds
<br />June 30, 2010
<br />Assets
<br />Cash and cash equivalents
<br />Receivables (net of allowance for uncollectibles)
<br />Accounts receivable
<br />Customers
<br />Property taxes
<br />Interest
<br />Due from other governments
<br />Prepaid items
<br />Notes receivable
<br />Inventories
<br />Restricted cash
<br />Total assets
<br />Liabilities and Fund Balances
<br />Liabilities:
<br />Accounts payable and accrued
<br />liabilities
<br />Contract retainages
<br />Deferred revenue
<br />Unearned revenue
<br />Total liabilities
<br />Fund Balances:
<br />Reserved for:
<br />Inventories
<br />Prepaid items
<br />State statute
<br />Special Revenue:
<br />Public Safety
<br />Human Services
<br />Education
<br />Culture and recreation
<br />Other purposes
<br />Capital Projects
<br />Unreserved, designated for sustainability efforts
<br />Unreserved, designated for subsequent
<br />year's expenditures:
<br />Special Revenue
<br />Unreserved, undesignated for General fund
<br />Total fund balances
<br />Total liabilities and fund balances
<br />Exhibit 3
<br />Major
<br />Non -Major
<br />-
<br />804,123
<br />Other
<br />Total
<br />Justice Center Certificates of
<br />Governmental
<br />Governmental
<br />General Construction Participation 2009
<br />Funds
<br />Funds
<br />$ 60,326,864 $ 3,205,473 $ -
<br />$ 19,850,587
<br />$ 83,382,924
<br />3,624,125
<br />804,123
<br />3,362,532
<br />48,106
<br />7,137,336
<br />59,200
<br />9,046 - -
<br />202 7,092,584 48,973,610
<br />$ 75,371,534 $10,298,057 $ 48,973,610
<br />144,353
<br />3,768,478
<br />-
<br />804,123
<br />-
<br />3,362,532
<br />7,876
<br />55,982
<br />-
<br />7,137,336
<br />-
<br />59,200
<br />789,000
<br />789,000
<br />-
<br />9,046
<br />810,773
<br />56,877,169
<br />$ 21,602,589 $ 156,245,790
<br />$ 5,041,214
<br />$ 1,173,985 $
<br />6,216,837
<br />$ 453,198
<br />$ 12,885,234
<br />102
<br />2,676,398
<br />1,669,669
<br />58,699
<br />4,404,868
<br />4,166,655
<br />-
<br />-
<br />-
<br />4,166,655
<br />507,625
<br />OPEB Obligation
<br />(4,713,363) (437,393,413)
<br />therefore are not reported in the governmental funds
<br />507,625
<br />9,715,596
<br />3,850,383
<br />7,886,506
<br />511,897
<br />21,964,382
<br />6,834,229
<br />9,046
<br />-
<br />-
<br />-
<br />9,046
<br />59,200
<br />Current Year Amortization
<br />747,991
<br />(9,414,297)
<br />59,200
<br />10,809,567
<br />-
<br />10,809,567
<br />-
<br />913,422
<br />913,422
<br />161,992
<br />161,992
<br />534,438
<br />534,438
<br />716,860
<br />716,860
<br />-
<br />-
<br />349,396
<br />349,396
<br />-
<br />6,447,674
<br />41,087,104
<br />7,286,961
<br />54,821,739
<br />341,967
<br />-
<br />-
<br />-
<br />341,967
<br />-
<br />11,127,623
<br />11,127,623
<br />54,436,158
<br />-
<br />54,436,158
<br />65,655,938
<br />6,447,674
<br />41,087,104
<br />21,090,692
<br />134,281,408
<br />$ 75,371,534
<br />$10,298,057 $
<br />48,973,610
<br />$ 21,602,589
<br />Amounts reported for governmental activities in the statement of net assets are different because:
<br />and self - insured hospitalization to individual departments.
<br />Capital assets used in governmental activities are not financial resources and,
<br />Long -term liabilities, including bonds payable and other postemployment benefits, are not
<br />therefore, are not reported in the funds
<br />Bonds and Other Debt Payable
<br />Government capital assets
<br />254,034,664
<br />(5,854,280)
<br />Less accumulated depreciation
<br />(35,032,810)
<br />219,001,854
<br />Other assets used in governmental activities are not financial resources and,
<br />OPEB Obligation
<br />(4,713,363) (437,393,413)
<br />therefore are not reported in the governmental funds
<br />Deferred Revenue
<br />4,166,655
<br />Debt Issuance Costs
<br />6,834,229
<br />Current Year Amortization
<br />(625,450)
<br />6,208,779
<br />Premium on Debt Issuance
<br />(10,162,288)
<br />Current Year Amortization
<br />747,991
<br />(9,414,297)
<br />Internal service funds are used by management to charge the costs of workers' compensation
<br />and self - insured hospitalization to individual departments.
<br />4,220,471
<br />Long -term liabilities, including bonds payable and other postemployment benefits, are not
<br />due and payable in the current period and therefore are not reported in the funds.
<br />Bonds and Other Debt Payable
<br />(423,582,488)
<br />Accrued Interest
<br />(5,854,280)
<br />Compensated Absences
<br />(3,030,385)
<br />LEO Pension Obligation
<br />(212,897)
<br />OPEB Obligation
<br />(4,713,363) (437,393,413)
<br />Net assets of governmental activities $ (78,928,543)
<br />The notes to the financial statements are an integral part of this statement.
<br />27
<br />G -2 Page 514
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