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CABARRUS COUNTY, NORTH CAROLINAEXHIBIT 4ARECONCILIATON OF THE STATEMENT OF REVENUES, EXPENDITURES, AND PAGE 3 OF 3CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDSFOR THE FISCAL YEAR ENDED JUNE 30, 2021Net change in fund balances‐total governmental funds37,935,855$ 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 assets34,541,138 Less current year depreciation(8,952,467) 25,588,671 Changes in contributions and other costs to the pension plan3,663,024 Revenues in the Statement of Activities that do not provide current financial resources are not reported as revenues in the the governmental funds. Ambulance745,825 Property tax60,031 805,856 The effect of various miscellaneous transactions involving capital assets Donation of capital assets5,000 Disposal of capital assets, net book value(1,890,477) (1,885,477) Debt proceeds provide current financial resources to governmental funds, but issuing debt increases long‐term liabilities in the Statement of Net Position. Repayment of debt principal is an expenditure in the governmental funds, but the repayment reduces long‐term liabilities in the Statement of Net Position. This amount is the net effect of these differences in the treatment of: Debt proceeds(63,226,409) Amortization of current year debt premium2,313,929 Principal payments36,278,886 Disbursement for refunding13,145,000 Disbursement for advanced refunding1,043,795 Deferred charge on refunding (2,887,223) (13,332,022) 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(740,920) Law Enforcement Officers Pension Liability(1,284,761) Local Government Employees Retirement System(7,774,579) Register of Deeds Supplemental Retirement49,419 Other Postemployment Benefit Liability(1,487,348) Accrued interest(350,452) (11,588,641) Internal service funds are used by management to charge the cost of self‐insured hospitalization dental, workers compensation, and liability systems to individual departments.1,186,803 Changes in net position of governmental activities42,374,069$ The notes to the financial statements are an integral part of this statement.32
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