AG 2010 12 20 - Laserfiche WebLink

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Cabarrus County, North Carolina Reconciliation of the Statement of Revenues, Expen And Changes in Fund Balance to the Statement of Activities of G For the Year Ended June 30, 2010 Net change in fund balances -total governmental funds Amounts reported for governmental activities in the statement of activities are different because: Governmental funds report capital outlays as expenditures. However, in the statement of activities, the cost of those assets is capitalized and depreciated over their estimated useful lives. Expenditures for capital assets Less current year depreciation Revenues in the statement of activities that do not provide current financial resources are not reported as revenues in the governmental funds. Ambulance Property Tax Building Inspections The effect of various miscellaneous transactions involving capital assets. Donation of capital assets Disposal of capital assets, net book value Debt proceeds provide current financial resources to governmental funds, but issuing debt increases long -term liabilities in the statement of net assets. Repayment of debt principal is an expenditure in the governmental funds, but the repayment reduces long -term liabilities in the statement of net assets. This amount is the net effect of these differences in the treatment of Debt proceeds Debt costs Amortization of current year debt premium Principal payments Some expenses reported in the statement of activities do not require the use of current financial resources and therefore are not reported as expenditures in governmental funds. Compensated Absences LEO Pension Obligation OPEB Obligation Accrued Interest Amortization of current year debt costs The purpose of this adjustment is to recognize the net change in "unavailable" revenues. Under the modified accrual basis of accounting, revenues are not recognized unless they are deemed "available" to finance the expenditures of the current period. Accrual -basis recognition is not limited by availability, so certain revenues need to be reduced by the amounts that were unavailable at the beginning of the year and increased by the amounts that were unavailable at the end of the year. This adjustment records a net decrease in revenues - unavailable revenues at the end of the year exceed beginning unavailable revenues by this amount. 31,660,649 (4,358,314) 27,302,335 560,195 955,547 (549) 1,515,193 31,590 (154,744) (123,154) (87,462,584) 746,999 747,991 20,133,541 (65,834,053) (18,119) (51,292) (1,833,142) (1,762,106) (625,450) (4,290,109) Internal service funds are used by management to charge the cost of workers' compensation and self- insured hospitalization systems to individual departments. 1,065,170 Changes in net assets of governmental activities The notes to the financial statements are an integral part of this statement. 29 G -2 1,065,170 $ (30,507,195) Page 516