Cabarrus County FY19 Annual Financial Report FY19 | Page 3

POPULAR ANNUAL FINANCIAL REPORT | FISCAL YEAR ENDED JUNE 30, 2019
TABLE OF
CONTENTS
Overview 1
Manager’s Message 2
Who We Are 3
How We Work 4
Economic Sectors 5
Community Survey Findings 7
Building The Financial Story 9
Budget Timeline 9
Fiscal Year 2019 Financial Overview 12
Fund Financial Statements 13
Government-Wide Financial Statements 15
Major Financial Changes 17
Capital Assets 18
Property Taxes 19
Phone Listing 20
FINANCIAL EXCELLENCE
The Government Finance Officers Association of the United States and Canada (GFOA)
awarded a Certificate of Achievement for Excellence in Financial Reporting to the County for
its Comprehensive Annual Financial Report (CAFR) for the fiscal year ended June 30, 2018.
This was the 35th consecutive year the County received this prestigious award.
The County also received the GFOA’s Distinguished Budget Presentation Award for its annual
budget document for the fiscal year ended June 30, 2019.
FY19 AUDIT OPINION
Auditors Elliott Davis, PLLC found:
Cabarrus County’s financial statements present fairly, in all material respects, the respective
financial position of the governmental activities, the business-type activities, the aggregate
discretely presented component unit, each major fund, and the aggregate remaining fund
information of the County, as of June 30, 2019, and the respective changes in financial position
and cash flows, where appropriate, thereof and the respective budgetary comparison for the
General Fund for the year then ended in conformity with accounting principles generally
accepted in the United States of America.
TO READ THE FULL AUDIT, VISIT CABARRUSCOUNTY.US/CAFRFY19
This report does not include all information on the County’s Funds or Component Units.
CABARRUSCOUNTY.US