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CABARRUS COUNTY, NORTH CAROLINAEXHIBIT 3ARECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS PAGE 3 OF 3JUNE 30, 2021Total fund balances‐total governmental funds170,225,304$ Amounts reported for governmental activities in the statement of net position are different because:Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds. Government capital assets338,845,010 Less accumulated depreciation(101,685,795) 237,159,215 Charges related to advance refunding bond issue11,345,213 Other long‐term assets are not available to pay for current‐period expenditures and, therefore, are unavailable in the funds. Deferred inflows of resources for taxes and ambulance receivables4,021,139 Premium on debt issuance(20,263,422) Sales tax receivable for capital lease21,904 Contributions and other costs to pension plans in the current fiscal year are deferred outflows of resources on the Statement of Net Position. Pension16,539,025 Register of Deeds Supplemental Retirement50,799 Benefit payments and pension administration costs for LEOSSA4,797,096 Contributions and administration costs for OPEB are deferred outflows of resources7,745,955 Internal service funds are used by management to charge the costs of self‐insured hospitalization dental, Workers Compensation, and Liability Insurance to individual departments.11,249,048 Pension related deferred inflows(378,271) OPEB related deferred inflows(11,030,403) Long‐term liabilities, including bonds payable and other postemployment benefits, are not due and payable in the current period and, therefore, are not reported in the funds. Bonds and other debt payable(360,558,315) Accrued interest(2,964,942) Compensated absences(5,229,482) Net LEO Pension liability(13,003,554) Net LGERS liability(29,456,310) Net Register of Deeds Supplemental Retirement asset516,340 Total OPEB liability(43,137,018) (453,833,281) Net position of governmental activities(22,350,679)$ The notes to the financial statements are an integral part of this statement.29
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