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March 20, 1996 4
<br />
<br />Report No. 217-HH
<br /> Cabarrus County
<br /> North Carolina
<br />
<br />Revenue and Expense (Fiscal year ended June 30, 1995)
<br />
<br />Revenue:
<br /> Ad Valorem Taxes
<br /> Other Taxes - local option sales
<br /> intangibles
<br /> Licenses, Permits and Fees
<br /> Intergovernmental
<br /> Sales & Services
<br /> Utilities (water and sewer)
<br /> Solid Waste Operations
<br /> Investment Earnings
<br /> Miscellaneous
<br />Expense:
<br /> General and Administrative
<br /> Non-Utility Capital Outlay
<br /> Education - Current Expense
<br /> Capital Outlay
<br /> Utilities Operation
<br /> Utilities Capital Outlay - from oper. rev.
<br /> from other few
<br /> Solid Waste Operation
<br /> Solid Waste Capital Outlay - from oper. rev.
<br /> from other rev.
<br /> To Capital Projects Fund
<br /> To Community Development Fund
<br /> Debt Service
<br />
<br />$ 38,600,625
<br />11,895,635
<br />1,227,953
<br />1,867,032
<br />12,204,697
<br />9,758,252
<br />184,267
<br />1,759,220
<br />980,394
<br />341,550
<br />
<br />$ 44,361,109
<br />1,377,002
<br />14,163,253
<br />1,442,000
<br />508,422
<br />41,152
<br />44,498
<br />963,646
<br />345,544
<br />106,768
<br />2,368,407
<br />125,000
<br />6,505,281
<br />
<br />$ 78,819,625
<br />
<br />$ 72,352,082
<br />
<br />Unrestricted cash and investments at June 30, 1995, amounted to $21,035,098, and consisted of
<br />$17,620,529 in the General Fund, $221,390 in the E-911 Communications Fund, $2,118,476 in
<br />the Landfill Fund and $1,074,703 in the Water & Sewer Fund. Additionally, the' County had
<br />$4,181,908 in Capital Projects accounts, $142,395 in Community Development accounts and
<br />$22,975 !n restricted Water & Sewer accounts.
<br />
<br />NOTE - The unreserved and undesignated fund balance in the General Fund at June 30, 1995, amounted to
<br /> $9,924,592, which was equivalent to 14.15% of the General Fund's expenditures and transfers for
<br /> 1994-95.
<br />
<br />Record of Debt Payment
<br /> According to sources considered to be reliable, the County has never defaulted the payment
<br />of bond principal or interest.
<br /> The N. C. Local Government Commission is authorized by Statute to impound the books
<br />and records of any unit of local government and assume full control of all its financial affairs if the
<br />unit defaults on any debt service payment or, in the opinion of the Commission, would default on
<br />a future debt service payment if the financial policies and practices of the unit are not improved.
<br />
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