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Net position does not present the County’s position regarding spending, this amount is presented in the governmental fund’s statements. 202120202021202020212020Current and other assets229,963,113$ 166,028,311$ 7,253,030$ 6,865,107$ 237,216,143$ 172,893,418$ Capital assets237,169,103 213,471,842 2,129,154 2,264,367 239,298,257 215,736,209 Total assets467,132,216 379,500,153 9,382,184 9,129,474 476,514,400 388,629,627 Deferred outflows of resources40,478,087 30,013,765 92,635 57,634 40,570,722 30,071,399 Long‐term liabilities outstanding 471,648,101 438,292,492 3,944,560 3,861,202 475,592,661 442,153,694 Other liabilities45,866,943 22,014,742 82,854 186,895 45,949,797 22,201,637 Total liabilities517,515,044 460,307,234 4,027,414 4,048,097 521,542,458 464,355,331 Deferred inflows of resources12,445,938 14,091,247 42,357 49,367 12,488,295 14,140,614 Net PositionNet investment incapital assets171,326,199 159,939,882 2,129,154 2,264,367 173,455,353 162,204,249 Restricted122,256,741 30,339,063 ‐ ‐ 122,256,741 30,339,063 Unrestricted(315,933,619) (255,163,508) 3,275,892 2,825,277 (312,657,727) (252,338,231) Total net position(22,350,679)$ (64,884,563)$ 5,405,046$ 5,089,644$ (16,945,633)$ (59,794,919)$ Cabarrus County's Net PositionFigure 2GovernmentalBusiness‐typeActivitiesActivitiesTotal Several particular aspects of the County’s financial operations positively influenced the total unrestricted governmental net position: Continued diligence in the collection of property taxes by maintaining a collection percentage above 98.0 percent. Continued low cost of debt due to the County’s high bond rating and the prevailing interest rate environment. Management’s proactive stance on monitoring spending across County departments to ensure compliance with the budget. Conservative budget practices which resulted in over collection of sales tax and property tax. The main area of under budget expenses were in the area of County salary and fringe which were $2.1 million under budget, due to unfilled positions and turnover. 16
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