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Assets Long-term Liabilities <br />What is owned by the County. Includes such items as Includes such items as bonds, notes, compensated <br />pooled cash and investments, receivables, inventories, absences, and other County obligations. <br />deposits with others, and prepaid items. <br />Capital Assets <br />Includes such items as County land, construction in <br />progress, equipment, infrastructure and buildings, and <br />improvements net of depreciation. <br />Capital Grants/Contributions <br />State, federal, other government and private <br />contributions to fund capital projects. <br />Net Investment in Capital Assets <br />Represents amounts invested in capital assets less <br />accumulated depreciation and any outstanding debt <br />used to acquire these assets. <br />Net Position <br />Net worth of the County calculated as the difference <br />between total assets plus deferred outflows of resources, <br />less liabilities and deferred inflows of resources. <br />Deferred Outflow of Resources Operating Grants/Contributions <br />A consumption of net position by the government that is State, federal, other government and private <br />applicable to a future reporting period. contributions to fund specific programs. <br />Deferred Inflow of Resources Per Capita <br />An acquisition of net position by the government that is Amount per County resident. <br />applicable to a future reporting period. <br />Fund Balance <br />The difference between assets plus deferred outflows of <br />resources, less liabilities and deferred inflows of <br />resources reported in the balance sheet of a <br />governmental fund. <br />General Revenues <br />All of the revenues that are not required to be reported <br />as program revenues in the government -wide statement <br />of activities. General revenues include property taxes, <br />sales and use taxes, state -shared revenues, as well as <br />other County—levied taxes, investment income, rents, <br />and the sale of surplus property. <br />Liabilities <br />Debts and obligations of the <br />County. <br />American Flags at Riverside Park <br />during the annual Tunnel to Towers 5K <br />Photo courtesy of JPRlmages. com <br />NN <br />Program Revenues <br />Term used in the statement of activities, which includes <br />charges for services, operating grants, and capital <br />grants. <br />Refunding <br />New bonds or notes issued to retire previously issued <br />bonds on their maturity or callable date. <br />Restricted <br />Funds set aside for a specific purpose due to legal or <br />external requirements. <br />Unrestricted <br />Funds available for the County to use for operations. <br />