North Carolina
Department of State Treasurer
Financial Information
Cabarrus County





Financial Profile | General Fund | Enterprise Funds | Cash, Investments and Financing
Capital Resources and Expenditures for Schools | Annual Financial Information Report Detail
Financial Graphs and Comparisons | Download Excel 97 Version of Financial Summary

Institute of Government North Carolina Counties Web Site
Economic Development Information System (EDIS) County Profiles

Go to North Carolina County and Municipal Financial Information Home Page
Go to Cabarrus County Map Page



Note: All data unless otherwise specified is for the 12 month period ending June, 30th of the designated year



Cabarrus County





County Revenues and Expenditures Financial Profile
Go to top of page		200720062005200420032002

Revenues by Source







Property Taxes$97,939,77792,871,80575,279,52767,881,47765,395,43064,540,180


Other Taxes4,161,2773,839,5683,156,2262,707,3282,505,1602,452,541


Sales Tax35,405,47629,837,26627,376,17223,791,70319,016,53219,283,466


Sales & Services10,944,68512,532,48111,365,73710,386,7969,309,0839,564,789


Intergovernmental21,670,58419,897,71218,089,56618,642,57115,455,18215,939,943


Debt Proceeds98,076,633054,724,00042,217,49826,390,0000


Other Miscellaneous15,218,06412,368,63310,171,1787,434,1948,049,5837,977,219


Total$283,416,496171,347,465200,162,406173,061,567146,120,970119,758,138










Expenditures by Function







Education$103,085,96578,695,38760,024,70861,639,19140,328,22461,257,807


Debt Service24,603,14324,910,47821,696,15519,829,24618,720,03717,845,571


Human Services37,597,82337,726,75634,047,27532,528,77329,545,89327,514,625


General Government15,239,50613,460,82712,539,16411,746,52012,733,01711,913,246


Public Safety43,513,20926,764,82918,949,30618,615,99815,281,83415,016,319


Other14,972,94515,008,65616,916,94319,388,59426,531,87729,590,499


Total$239,012,591196,566,933164,173,551163,748,322143,140,882163,138,067










Expenditures by Object







Salaries & Wages$31,390,87529,009,73427,186,31525,791,24425,007,26327,418,077


Capital Outlay27,953,9018,551,9362,695,9933,410,59211,224,00017,198,541


Other Operating63,856,12467,845,26462,531,88161,358,80555,207,00449,217,418


Public School Capital59,937,84441,745,32324,199,18130,697,51410,794,18133,137,079


Public School Current38,232,91734,676,39931,517,83529,721,71828,872,72727,462,380


Other17,640,93014,738,27716,042,34612,768,44912,035,7078,704,572


Total$239,012,591196,566,933164,173,551163,748,322143,140,882163,138,067










Per Capita Revenues by Source







Property Taxes$623618513474467474


Other Taxes262622191818


Sales Tax225198187166136141


Sales & Services708378726670


Intergovernmental138132123130110117


Debt Proceeds62403732941880


Other Miscellaneous978269525759


Total$1,8031,1391,3651,2071,042879










Per Capita Expenditures by Function







Education$656523410430287450


Debt Service157166148138134131


Human Services239251232227211202


General Government978986829187


Public Safety277178129130109110


Other95100115135189217


Total$1,5211,3071,1201,1421,0211,197










Per Capita Expenditures by Object







Salaries & Wages$200193185180178201


Capital Outlay17857182480126


Other Operating407451428428394362


Public School Capital38127716521477243


Public School Current243231215207206201


Other11298109898664


Total$1,5211,3071,1201,1421,0211,197










Group Average Per Capita Revenues by Source







Property Taxes$599$581$550$531$503$492


Other Taxes535249464239


Sales Tax218205193183154144


Sales & Services109120111107107101


Intergovernmental250242239226220250


Debt Proceeds291133196192215106


Other Miscellaneous806464464647


Total$1,600$1,397$1,402$1,331$1,287$1,179










Group Average Per Capita Expenditures by Function







Education$505$463$414$403$393$426


Debt Service148137129118113101


Human Services362368374357345338


General Government112112105988788


Public Safety193178165154147142


Other154148142136134136


Total$1,474$1,406$1,329$1,266$1,219$1,231










Group Average Per Capita Expenditures by Object







Salaries & Wages$271$263$253$250$248$246


Capital Outlay888078716274


Other Operating505500483446427393


Public School Capital196172131129131163


Public School Current282265254248239239


Other132126130122112116


Total$1,474$1,406$1,329$1,266$1,219$1,231











Number of Reporting (AFIR) Counties in Group252423232323


Average Population of Group231,141230,654231,564227,480224,334219,859








General Fund
Go to top of page		200720062005200420032002

General Fund revenues$172,964,043 161,828,273 136,969,940 120,451,591 112,168,491 114,585,491

General Fund expenditures151,784,890 145,823,692 132,328,390 125,846,938 119,786,810 118,826,588

Operating transfers in740,012 561,664 427,050 1,007,648 9,916,547 3,111,757

Operating transfers out19,802,850 7,754,099 2,696,048 1,480,552 1,721,003 14,535,333

Proceeds from capital leases and installment purchases689,546 0 0 0 0 0

Other items0 0 0 343,845 0 1,965,532

Excess of revenues and other sources over (under) expenditures and other uses$2,805,861 8,812,146 2,372,552 (5,524,406)577,225 (13,699,141)










Fund balance available (FBA):







In dollars$40,329,777 39,021,789 30,918,303 28,688,929 29,015,984 32,199,472


FBA as a % of GF Net Expenditures:







 Unit's FBA %23.60%25.41%22.90%22.53%23.88%24.14%


 Group weighted average FBA %19.24%18.09%17.91%16.89%15.79%16.71%


 State weighted average FBA %21.29%20.67%24.31%23.51%21.81%21.75%


Number of Reporting Counties in Group (Audit)25 24 23 23 23 23








Enterprise Funds:
Go to top of page






Landfill













Combined financial results:







Working capital$5,575,299 $6,297,593 $4,629,360 $4,515,823 $4,211,543 $4,124,721


Net income909,926 1,868,733 265,042 (21,105)120,792 30,984


























Cash, Investments and Financing
Go to top of page		200720062005200420032002











Population at July 1st of the Previous Year157,179 150,434 146,628 143,433 140,176 136,312


Population Group100,000 and Above100,000 and Above100,000 and Above100,000 and Above100,000 and Above100,000 and Above


Cash & Investments at June 30th76,715,968 71,305,031 60,492,103 54,480,566 55,129,133 55,436,401


Investment Earnings4,855,735 3,055,631 1,319,331 841,844 1,328,784 2,889,907


Tax Rate Equivalent0.0316 0.0209 0.0094 0.0072 0.0115 0.0262


Tax Rate Equivalent Group weighted average0.0343 0.0233 0.0147 0.0065 0.0106 0.0177


Tax Rate Equivalent Statewide weighted average0.0349 0.0245 0.0146 0.0067 0.0112 0.0184


Latest year of Revaluation 2004 2004 2004 1999 1999 1999


January 1, Prior Year Assessed Valuation15,354,436,550 14,609,617,750 13,969,812,745 11,689,890,650 11,505,730,561 11,035,053,139


Tax Rate0.6289 0.6300 0.5300 0.5600 0.5600 0.5600


Tax Rate Group weighted average0.6857 0.6884 0.6659 0.6684 0.6786 0.6738


Tax Rate State Wide0.6489 0.6504 0.6460 0.6494 0.6633 0.6639


Assessment -to-Sales Ratio96.03 98.33 100.00 89.45 94.02 96.83


Assessment -to-Sales Ratio Group Average90.41 93.11 94.47 93.41 90.60 91.75


Assessment -to-Sales Ratio Statewide87.65 91.33 91.52 91.40 88.96 89.36


Assessed Valuation adjusted for Assessed to Sales Ratio15,989,208,112 14,857,742,042 13,969,812,745 13,068,631,247 12,237,535,164 11,396,316,368


Tax Rate Adjusted0.6039 0.6195 0.5300 0.5009 0.5265 0.5422


Tax Rate Adjusted Group weighted average0.6199 0.6409 0.6291 0.6244 0.6148 0.6182


Tax Rate Adjusted Statewide0.5687 0.5941 0.5912 0.5936 0.5900 0.5932


Percent Collected98.16 97.87 97.70 96.53 97.37 97.48


Percent Collected Group weighted average97.92 96.81 97.59 97.28 97.08 97.18


Percent Collected Statewide weighted average97.46 96.63 97.04 96.70 96.36 96.49


Percent Collected Excluding Motor Vehicles98.99 98.67 98.46 97.33 98.23 98.37


Percent Collected Excluding Motor Vehicles Group weighted average98.73 97.72 98.48 98.29 98.07 98.23


Percent Collected Excluding Motor Vehicles Statewide98.38 97.63 98.01 97.78 97.46 97.63


Percent Collected Motor Vehicles Only 89.53 89.47 89.52 88.83 88.94 88.96


Percent Collected Motor Vehicles Only Group weighted average89.89 88.09 88.77 87.63 88.11 87.95


Percent Collected Motor Vehicles Only Statewide weighted average 88.43 87.23 87.67 86.69 86.77 86.77


Tax Uncollected1,790,709 1,980,674 1,718,404 2,303,445 1,717,740


Tax Rate Equivalent0.0117 0.0136 0.0123 0.0197 0.0149 0.0000










Debt Information2007 2006 2005 2004 2003 2002


Population Group100,000 - 249,999100,000 - 249,999100,000 - 249,999100,000 - 249,999100,000 - 249,999100,000 - 249,999


Ratings:







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General Obligation Debt (GO) where the taxing power of the entire County is pledged to satisfy the obligation. The figure does not include General Obligations of sub-divisions such as water districts even though such obligations may appear on the County's financial statements.


 Enterprise$2,335,311 3,123,068 3,943,716 4,782,455 5,705,070 6,356,555


General Government131,644,689 88,721,932 93,861,284 47,712,545 50,439,930 54,043,445


Total133,980,000 91,845,000 97,805,000 52,495,000 56,145,000 60,400,000


Total Per Capita852 611 667 366 401 443


Total Per Capita for the Population Group624 604 570 526 504 521


Total Per Capita Statewide796 717 704 685 644 587


Total per Assessed Valuation Adjusted for Current Year Sales0.8379%0.6182%0.7001%0.4017%0.4588%0.5300%


 Total per Assessed Valuation Adjusted for Current Year Sales- Group Average0.6900%0.7400%0.7300%0.7000%0.6900%0.7400%


 Total per Assessed Valuation Adjusted for Current Year Sales - Statewide0.8000%0.7900%0.8200%0.8400%0.8100%0.7600%


 Total Authorized but not Issued Including Enterprise Debt048,000,000100,120,00052,120,00000











Installment Sales Purchases and Lease Obligations*







--Enterprise*$0 00000


--General Government*151,832,857111,240,429120,539,484125,388,59691,684,56172,639,658


Total*151,832,857111,240,429120,539,484125,388,59691,684,56172,639,658


* The total only includes the contracts that require Local Government Commission approval.




Revenue Bond Debt 0 0 0 0 0 0


Total Debt Listed Above*$151,832,857 111,240,429120,539,484125,388,59691,684,56172,639,658








County School Report
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Sources of County Funding for Public School Capital Outlays:






Restricted portions of local option sales taxes:







Article 40 (30% restricted)1,988,2091,647,9211,408,8831,302,7381,331,4201,331,420


Article 42 (60% restricted)3,929,3923,261,6882,786,3642,570,2422,639,0142,639,014


Interest on restricted sales taxes






Withdrawals from the State Public School Building Capital Fund2,834,056336,000240,000
286,876286,876

Grants from Public School Building Bond Fund



34,18034,180

Net proceeds from public school debt financing:







General obligation bonds48,562,851
50,366,000




Installment purchase contracts


42,217,498



Interest on public school debt proceeds1,185,1591,492,934641,647344,551815,630815,630

Unrestricted sources31,813,60619,775,02918,162,56113,497,98912,643,85512,643,855

Portion of NC Lottery Proceds for Construction and Debt Service on Debt Issued After January 1, 2003







Total Sources90,313,27326,513,57273,605,45559,933,01817,750,97517,750,975









Deduct: Uses of County Funding for Public School Capital Outlays:






Funded by Article 40 restricted local option sales taxes:







Public school debt service (principal and interest)611,901793,826817,9581,850,917



Public school capital outlay1,376,308854,095590,925496,4761,148,9801,148,980

Funded by Article 42 restricted local option sales taxes:







Public school debt service (principal and interest)1,209,3301,571,2011,617,6853,657,417



Public school capital outlay2,720,0621,690,4871,168,679979,5242,277,3992,277,399

Funded by Public School Building Capital Fund:







Public school debt service (principal and interest)







Public school capital outlay2,834,056336,000240,000
286,876286,876

Funded by Public School Building Bond Fund:







Public school capital outlay



43,66043,660

Funded by other sources:







Public school debt service (principal and interest)18,199,13318,908,74216,313,41111,041,30415,794,43915,794,439


Public school capital outlay:







From Capital Projects Funds55,656,18438,864,74122,199,57729,221,51429,380,16429,380,164


From General Fund and all other funds







Fair market value of assets donated to public school county







Total Uses82,606,97463,019,09242,948,23547,247,15248,931,51848,931,518









Sources of county funding over (under) uses of county funding7,706,299-36,505,52030,657,22012,685,866-31,180,543-31,180,543









Add: Beginning Balance, July 1, Prior Year






Unexpended restricted portions of local option sales taxes






Unexpended proceeds from other sources restricted







for public school capital outlay10,880,45047,385,97016,728,7501,223,75435,100,86435,100,864









Equals: Ending Balance, June 30, Current Year






Total ending balance18,586,74910,880,45047,385,97013,909,6203,920,3213,920,321

Total ending balance comprised of:







Unexpended restricted portions of local option sales taxes


-3,111,354544,055544,055


Unexpended proceeds from other sources restricted







for public school capital outlay18,586,74910,880,45047,385,97017,020,9743,376,2663,376,266









Additional Information:






Average daily membership30,71128,87027,18326,09725,09624,355

Adjusted unit-wide tax rate0.60390.61950.53000.50090.52650.5422

Weighted average adjusted unit-wide tax rate for population group0.61990.64090.62910.62440.61480.6182

Assessed valuation per student499,965506,048513,917447,940458,469453,092

School bonds authorized and Unissued as of 3/31 of the following year

44,900,00044,900,000


















Annual Financial Information Report Detail
Go to top of page		200720062005200420032002


Population at July 1st of the Previous Year157,179150,434146,628143,433140,176136,312
1ANon GASB34General Fund Assets




50,191,576
1BFISCAL General Fund Liabilities




8,523,459
2ASUMMARYDebt Service Fund Assets





2B
Debt Service Fund Liabilities





3A
Enterprise Fund Assets




5,195,587
3B
Enterprise Fund Liabilities




3,500,671
4A
Internal Service Fund Assets




2,051,191
4B
Internal Service Fund Liabilities




65,196
5A
Special Revenue Fund Assets




8,877,305
5B
Special Revenue Fund Liabilities




8,918
6A
Trust & Agency Fund Assets




2,138,630
6B
Trust & Agency Fund Liabilities




533,685
7A
Capital Project Fund Assets




8,869,217
7B
Capital Project Fund Liabilities




7,404,495
8A
General Fixed Assets - Assets




100,444,259
9B
General Long-Term Liabilities




135,020,661
1.5AGASB34Governmental Activities Assets275,956,852204,671,737217,104,380179,678,033159,034,867
1.5BFISCAL Governmental Activities Liabilities318,417,625229,001,744237,085,795197,720,902160,658,764
3.5ASUMMARYBusiness Type Activities Assets9,205,6188,114,9985,965,4425,748,2085,578,673
3.5B
Business Type Activities Liabilties4,367,3144,186,6203,905,7973,953,6053,762,965
6.5A
Fiduciary Funds Assets1,135,985875,102624,440193,878163,595
6.5B
Fiduciary Funds Liabilties935,645746,376562,613167,953143,003
10PART 2Current Collections Of Unit Wide Levy95,553,34890,813,41373,001,72766,020,17463,501,15661,184,935
11TAXCurrent Collections of Special Tax District





12REVENUESPrior Years' Levy Collections1,568,5791,343,7641,568,6811,277,6741,331,1722,606,219
13
Penalties and Interest814,832711,475705,589582,972562,161748,096
14
Collections of Tax Previously Written off3,0183,1533,530657941930
15
Animal Tax





16
Deed Stamp Excise Tax1,726,3401,749,5411,203,579955,626793,610704,605
17
Real Property Transfer Tax





18
Scrap Tire Disposal Tax





19
1% Local Government Option Sales Tax15,667,21713,348,95212,962,30110,973,51810,128,55910,447,044
20
1/2% Local Government Option Sales Tax (40)6,627,3645,493,0704,696,2764,342,4614,468,1634,438,065
21
1/2% Local Government Option Sales Tax (42)6,548,9875,436,1474,643,9414,283,7374,419,8104,398,357
21.1
1/2% Local Government Option Sales Tax (44)6,561,9085,559,0975,073,6544,191,987

22
Local Occupancy Tax1,504,5861,118,5271,000,379881,194845,727845,801
23
Prepared Food Tax





24
911 Charges358,770356,235361,144359,984397,577337,920
25
Gross Receipts Tax on Short Term Leased Vehicles102,45693,48282,89565,82761,40163,647
26
White Goods Disposal Tax62,12245,08755,79251,72050,56151,231
27
Privilege Licenses





28
Other Licenses407,003476,696452,437392,977356,284449,337
29
Payments in Lieu of Taxes - US Forest Serv





30FEDERALPayments in Lieu of Taxes - TVA





31INTERGOVPayments in Lieu of Taxes - Other





32REVENUESEquitable Sharing of Fed. Forfeited Prop.13,81195,493
42,11811,78243,026
33
General Government40,576
32,947156,508

34
Public Safety839,5711,461,399660,562352,373239,459158,145
35
Transportation - Streets





36
Transportation - Mass Transit





36
Fed intergov airports





37
Transportation - Other Transportation





38
Environmental Protection





39
Econ. & Phys. Dev. - Housing/Comm. Dev.334,353598,604658,860251,752422,865490,339
39.1
Fed intergov sewers





40
Econ. & Phys. Dev. - All Other





41
Human Services: Health





42
Human Services: Mental Health





43
Human Services: Hospitals





44
Human Services: Social Services14,430,68115,005,26913,743,05612,960,08111,271,95310,497,941
45
Human Services: All Other593,506506,006463,614454,089443,881478,095
46
Culture and Recreation260,529

50,000

46.5STATENC Education Lottery Proceeds2,648,767




47INTERGOVPayments in Lieu of Taxes - State



4,5556,077
48REVENUESControlled Substance Tax37,36140,96495,41337,86053,98120,878
49
Intangibles Tax Reimbursement




1,123,491
49.1
Transitional Hold Harmless Revenues





50
Wireless Enhanced 911 Service Charges395,217154,463207,736189,316145,363183,146
51
Beer and Wine Tax





52
Court Costs - Facilities, Jail and Arrest Fees834,686798,624811,264635,270637,916611,312
53
Public School Building Capital Fund185,289336,000240,000
881,391286,876
54
Public School building bond fund




34,180
55
Food Stamp Purchases Tax Reimbursement




31,603
56
Inventories Tax Reimbursement




1,270,412
57
Senior Citizens Exemption - 50%





58
General Government





59
Public Safety37,40842,03544,2526,54647,89654,525
60
Transportation434,226383,381622,428228,619665,946232,592
61
Environmental Protection36,11732,74327,63530,36625,69825,551
62
Econ. & Phys. Dev. - Housing/Community Dev





62.1
State intergov - sewers





63
Econ. & Phys. Dev. - All Other71,13071,130169,693151,22892,56580,352
64
Human Services: Health





65
Human Services: Mental Health





66
Human Services: Hospitals





67
Human Services: Social Services71,709117,74065,73380,28283,291152,667
68
Human Services: All Other2,0002,0002,0002,0002,0002,000
69
Culture and Recreation203,647201,861194,373178,939174,640156,735
70LOCALOther State Intergov.





71INTERGOVPayments in Lieu of Taxes - Local





72REVENUESGeneral Government





73
Public Safety





74
Transportation





75
Environmental Protection


590

76
Economic And Physical Development





77
Human Services: Health, Mental Hlt & Hosp





78
Human Services: Social Services





79
Human Services: All Other


2,784,634

80PERMITS Culture And Recreation200,00050,00050,00050,000250,000
81& FEESBuilding Permits





82
Register of Deeds1,482,9901,467,7711,302,6081,404,4321,405,647945,833
83
Inspection Fees3,605,4744,052,7652,762,7712,172,6441,887,2991,845,559
84
Concealed Handgun Permits31,83027,79517,96033,67020,38626,915
85
Other Permits1,785,415977,730589,067205,282175,701179,971
86SALES &Parking Revenues16,21815,62516,27016,86516,56516,770
87SERVICESRents and Royalties291,750515,003426,957438,633404,050423,357
88
Airport





89
Fire Protection Charges





90
Solid Waste1,515,9942,868,131890,112811,0541,014,299910,244
91
Ambulance and Rescue Squad Charges3,117,5772,829,3252,400,1191,861,2051,793,7371,439,378
92
Cemeteries





93
Recreation Service Revenues224,214190,815190,049194,297199,253208,596
94
Library Service Revenues113,675106,605101,01993,00890,77375,386
95
Other Cultural and Rec Service Revenues698,456605,3701,706,1231,821,0561,235,27726,586
96
Client and Third Party Payments - Health





97
Client and Third Party Payments - Ment Hlth





98
Client and Third Party Payments - Soc Serv3,196,5223,449,3234,171,7183,304,1762,944,7615,081,674
99
Client and Third Party Payments - Cty Home





100UTILITY Mass Transit - County Operated





101MISC.Other Sales and Services1,770,2791,952,2841,463,3701,846,5021,610,3681,382,798
102REVENUESWater and Sewer Charges





103
Investment Earnings - Bond Proceeds1,784,1831,492,934641,646344,551842,333573,668
104
Investment Earnings - All Other Funds4,855,7353,055,6311,319,331841,8441,328,7842,889,907
105
Special Assessments





106
Private Contributions and Other Donations941,171626,474646,9421,437,0471,302,602353,812
107
Sales of Materials and Fixed Assets107,08960,272267,93422,44555,25230,834
108
Sale of Real Property





109
1 Cent and 5 Cent Bottle Tax



23,05322,431
110
Mixed Drink Surcharge





111
ABC Profit Distribution64,95658,18351,41745,33351,18239,084
112
Other Miscellaneous Revenues559,221281,656671,804926,946957,3441,069,205
113
Proceeds of the Sale of Bonds & Notes83,076,633
50,366,00042,217,49826,390,000
114
Proceeds of Capital Leases & Install Purch15,000,000
4,358,000


115
Other
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116NON-REVFines