CAFR 2011 Final with opinion (2)

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i The charts above illustrate the County's govermnental expenses and revenues by function,and its revenues by source. As shown,public safety is the largest function in expense(45 percent), followed by general government(15 percent)and sanitation(10 percent). General revenues such as property and other taxes are not shown by program,but are effectively used to support program activities countywide. For governmental activities overall,without regard to programs, property taxes are the largest single source of funds percent),followed by operating grants a and contributions 13 percent)and capital grants and contributions(10 percent). Business-type activities. Business-type activities decreased the County's net assets by$41,990. Expenses for health,education and welfare account for all of the$550,801 of expenses. Charges for services were$372,599, operating grants and contributions were $133,215 and investment earnings were$2,997. Revenues increased by$32,624 due to a$32,858 increase in rental receipts,which was offset slightly by a$3,587 decrease iii the rental subsidy from the federal government. Expenses decreased$39,330(7 percent)due primarily to a decrease in general and administration expenses of$36,437. FINANCIAL ANALYSIS OF THE COUNTY'S FUNDS As noted earlier,the County uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. Go r m a �f roads. The focus of the County's governmental funds is to provide infonnation on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the County's financing requirements. In particular, unrestricted fund balance may serve as a useful measure of a government's net resources available for spending at the end of the fiscal year. As of the end of the current fiscal year,the County's governmental funds reported combined ending fund balances of$158.9 million, a decrease of$13.3 million in comparison with prior year. Approximately 47 percent of this total amount($74,1 million)constitutes unrestricted fund balance. The unrestricted portion of the fund balance is comprised of 1 $48.9 million in committed fund balance, 2 $18.0 million in assigned fund balance and $7.2 million in unassigned fund balance. The remainder of the fund balance is divided between$2.8 million in n nspendable fund balance for inventory and $82.0 million in restricted fund balance. Approximately 78% of the restricted fund balance is due to restrictions relating to highways, streets and abandoned vehicles($37.2 million)and debt service($26.6 million). The general fund is the chief operating fund of the County. At the end of the current fiscal gear, unrestricted fund balance of the general fund was $37.5 million,while total fund balance increased to $44.6 million. As a measure of the general fund's liquidity, it may be useful to compare both unrestricted fund balance and total fund balance to total l fund expenditures. Unrestricted fund balance represents 16 percent of total general fund expenditures,while total fund balance represents 19 percent of that same amount. The fund balance of the County's general fund increased by$ .1 million during the current fiscal year as opposed to a$20.1 million decrease in the prig year. Ivey factors in this increase are as follows: An increase of$6.6 million 13 percent) in intergovernmental revenues. The most significant cause of the increase was due to n additional$4.9 million in grant revenues relating to health, education and welfare. _ fig _