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<br />Cabarrus County, North Carolina
<br />Notes to the Financial Statements
<br />For the Year Ended June 30, 2010
<br />4. Long -Term Obligation Activity
<br />The following is a summary of changes in the County's long -term obligations for the fiscal year ended June 30,
<br />2010:
<br />Governmental activities:
<br />General Obligation Bonds
<br />Plus: Premiums on issuance
<br />Total General Obligation Bonds
<br />Certificates of Participation
<br />Plus: Premiums on issuance
<br />Total Certificates of Participation
<br />Capital Leases
<br />Installment Financing
<br />Compensated absences
<br />Other postemployment benefits
<br />Unfunded Pension Cost
<br />Total governmental activities
<br />Business -type activities
<br />Balance
<br />-
<br />175,970
<br />Balance
<br />Due Within
<br />July 1, 2009
<br />Increases
<br />Decreases
<br />June 30, 2010
<br />One Year
<br />3,012,266
<br />1,955,529
<br />1,937,410
<br />$ 119,835,000
<br />$ -
<br />$ 7,270,000
<br />$ 112,565,000
<br />$ 6,905,000
<br />2,873,844
<br />-
<br />316,167
<br />2,557,677
<br />-
<br />122,708,844
<br />-
<br />7,586,167
<br />115,122,677
<br />6,905,000
<br />220,885,000
<br />85,170,000
<br />11,065,000
<br />294,990,000
<br />14,135,000
<br />4,995,860
<br />2,292,584
<br />431,824
<br />6,856,620
<br />-
<br />225,880,860
<br />87,462,584
<br />11,496,824
<br />301,846,620
<br />14,135,000
<br />3,458,315
<br />-
<br />175,970
<br />3,282,345
<br />179,724
<br />14,367,714
<br />-
<br />1,622,571
<br />12,745,143
<br />1,622,572
<br />3,012,266
<br />1,955,529
<br />1,937,410
<br />3,030,385
<br />2,424,308
<br />2,880,221
<br />2,509,854
<br />676,712
<br />4,713,363
<br />-
<br />161,605
<br />405,103
<br />353,811
<br />212,897
<br />-
<br />$ 372,469,825
<br />$ 92,333,070
<br />$ 23,849,465
<br />$ 440,953,430
<br />$ 25,266,604
<br />$ 4,080,241
<br />$ 2,501,574
<br />Balance
<br />Balance
<br />Due Within
<br />July 1, 2009
<br />Increases
<br />Decreases
<br />June 30, 2010
<br />One Year
<br />Compensated absences
<br />$ 34,996
<br />$
<br />42,347
<br />$
<br />41,239
<br />$ 36,104
<br />$ 28,883
<br />Other postemployment benefits
<br />32,516
<br />19,355
<br />-
<br />51,871
<br />-
<br />Landill Closure /Post- Closure
<br />4,753,611
<br />957,917
<br />1,719,262
<br />3,992,266
<br />2,472,691
<br />Total business -type activities
<br />$ 4,821,123
<br />$
<br />1,019,619
<br />$
<br />1,760,501
<br />$ 4,080,241
<br />$ 2,501,574
<br />Balance
<br />Balance
<br />Due Within
<br />July 1, 2009
<br />Increases
<br />Decreases
<br />June 30, 2010
<br />One Year
<br />Discretely presented component
<br />unit:
<br />Compensated absences
<br />$ 586,985
<br />$
<br />574,906
<br />$
<br />(583,552)
<br />$ 578,339
<br />$ 566,772
<br />OPEB obligation
<br />238,921
<br />138,784
<br />(35,706)
<br />341,999
<br />-
<br />Total discretely presented
<br />component unit
<br />$ 825,906
<br />$
<br />713,690
<br />$
<br />(619,258)
<br />$ 920,338
<br />$ 566,772
<br />For Governmental activities, compensated absences and unfunded pension cost are liquidated by the general fund.
<br />For business -type activities, compensated absences are liquidated by the business -type activity and accounted for
<br />on the LIFO basis, assuming employees are taking leave time as it is earned.
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