Popular Annual Financial Report • FISCAL YEAR ENDED JUNE 30 , 2021
Similar in format to private-sector financial statements , governmentwide financial statements present a comprehensive retrospective of the County ’ s revenue collected and the amount spent .
There are three types of governmentwide financial statements : governmental activities , business-type activities and component units . The information on the following pages focuses only on governmental activities .
Statement of Net Position Shows what the government has in relation to assets ( what we own ) and liabilities ( what we owe ).
In FY21 , the County ’ s Total Net Position was $( 22,350,679 ), an increase of $ 42,533,884 from FY20 . The increase is primarily due to construction of the courthouse and other in-progress projects , along with additions in stabilization by State statute and the outstanding debt on the County ’ s financial report for school systems and the community college that are not assets owned by the County .
Government-Wide Financial Statements
Statement of Net Position
Governmental Activities 2021 2020
Current and other assets |
$ |
229,963,113 |
$ |
166,028,311 |
Capital assets |
|
237,169,103 |
|
213,471,842 |
Total assets |
|
467,132,216 |
|
379,500,153 |
Deferred outflows of resources 40,478,087 30,013,765
Long-term liabilities outstanding |
471,648,101 |
438,292,492 |
Other liabilities |
45,866,943 |
22,014,742 |
Total liabilities |
517,515,044 |
460,307,234 |
Deferred inflows of resources 12,445,938 14,091,247
Net Position Net investment in capital assets |
|
171,326,199 |
|
159,939,882 |
Restricted |
|
122,256,741 |
|
30,339,063 |
Unrestricted |
|
( 315,933,619 ) |
|
( 255,163,508 ) |
Total net position |
$ |
( 22,350,679 ) |
$ |
( 64,884,563 ) |
Statement of Activities Shows the revenues ( sources of income ) and expenses ( uses of money ) that yield the annual change in net position .
Learn more about the County ’ s business-type activities and component units in the Annual Comprehensive Financial Report at cabarruscounty . us / comprehensivefinancialFY21 .
15 Cabarrus County , North Carolina