COMPREHENSIVE ANNUAL FINANCIAL REPORT

CLEVELAND COUNTY

NORTH CAROLINA

COMPREHENSIVE ANNUAL FINANCIAL REPORT

FOR THE YEAR ENDED JUNE 30, 2020

Prepared by: Finance Department Finance Director: Lucas Jackson

CLEVELAND COUNTY, NORTH CAROLINA

COMPREHENSIVE ANNUAL FINANCIAL REPORT FORE THE YEAR ENDED JUNE 30, 2020

TABLE OF CONTENTS

INTRODUCTORY SECTION Letter of Transmittal Certificate of Achievement for Excellence in Financial Reporting List of Principal Officials Organizational Chart

FINANCIAL SECTION

INDEPENDENT AUDITORS' REPORT

MANAGEMENT'S DISCUSSION AND ANALYSIS

BASIC FINANCIAL STATEMENTS Government-wide Financial Statements: Statement of Net Position Statement of Activities Fund Financial Statements: Balance Sheet ? Governmental Funds

Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances with reconciliation to Statement of Activities Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities

Statement of Revenues, Expenditures, and Changes in Fund Balances ? Budget and Actual ? General Fund Statement of Fund Net Position ? Proprietary Funds Statement of Revenues, Expenses, and Changes in Fund Net Position ? Proprietary Funds Statement of Cash Flows ? Proprietary Funds Statement of Fiduciary Net Position ? Fiduciary Funds Notes to the Financial Statements

Exhibit Page(s)

i-v vi vii viii

1-3 4-16

A

17

B

18-19

C

20

C

21

D

22

E

23

F

24

G

25

H

26

I

27-28

J

29

30-74

CLEVELAND COUNTY, NORTH CAROLINA

COMPREHENSIVE ANNUAL FINANCIAL REPORT FORE THE YEAR ENDED JUNE 30, 2020

TABLE OF CONTENTS

REQUIRED SUPPLEMENTAL FINANCIAL DATA:

Schedule Page(s)

Schedule of County's Proportinate Share of Net Pension Liability (Asset) (LGERS)

Schedule of County Contributions (LGERS)

Schedule of County's Proportionate Share of Net Pension Liability (Asset) (ROD)

Schedule of County Contributions (ROD) Schedule of Changes in Total Pension Liability - Law Enforcement Officers' Special Separation Allowance Schedule of Total Pension Liability as a Percentage of Covered Payroll - Law Enforcement Officers' Special Separation Allowance

A-1

75

A-2

76

A-3

77

A-4

78

A-5

79

A-6

80

Schedule of Changes in Total OPEB Liability and Related Ratios

A-7

81

COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS:

General Fund:

Statement of Revenues, Expenditures and Changes in

Fund Balances - Budget and Actual

B-1

Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and

Actual:

Reimbursement Resolution Capital Project Fund

B-2

School Capital Reserve Fund

B-3

Nonmajor Governmental Funds:

Combining Balance Sheet ? Nonmajor Governmental Funds

C-1

Combining Statement of Revenues, Expenditures, and Changes

in Fund Balances - Nonmajor Governmental Funds

C-2

Nonmajor Special Revenue Funds:

Combining Balance Sheets ? Nonmajor Special Revenue Funds

D-1

Combining Statement of Revenues, Expenditures, and Changes

in Fund Balances ? Nonmajor Special Revenue Funds

D-2

Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and

Actual:

Emergency Telephone System Fund (E-911)

D-3

Fire Districts Fund

D-4

Covid 19 Relief Fund

D-5

82-93

94 95

96 97

98 99

100 101 102

CLEVELAND COUNTY, NORTH CAROLINA

COMPREHENSIVE ANNUAL FINANCIAL REPORT FORE THE YEAR ENDED JUNE 30, 2020

TABLE OF CONTENTS

Nonmajor Capital Project Funds:

Schedule Page(s)

Combining Balance Sheets - Nonmajor Capital Projects

E-1 103-104

Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Nonmajor Capital Projects

Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual:

North Shelby School Capital Project Fund County General Capital Project Fund Public Shooting Range Capital Project Fund Foothills Commerce Center Capital Reserve Fund Washburn Switch Road and Rail Capital Project Fund Economic Development Capital Project Fund Enterprise Resource Planning Software Capital Project Fund Cleveland County Fair Enhancement Capital Project Fund Shelby Star Capital Project Fund Mountain Side Drive Capital Project Fund Shell Building III Capital Project Fund

E-2 105-106

E-3

107

E-4

108

E-5

109

E-6

110

E-7

111

E-8

112

E-9

113

E-10

114

E-11

115

E-12

116

E-13

117

E-14

118

Debt Service Fund:

Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual

F-1

119

Enterprise Funds: Solid Waste Fund - Schedule of Revenues and Expenditures Budget and Actual (Non-GAAP)

Agency Funds: Combining Statement of Changes in Assets and Liabilities

G-1

120

H-1

121

Supplemental Financial Data: Schedule of Ad Valorem Taxes Receivable - General Fund Analysis of Current Tax - County-Wide Levy

I-1

122

I-2

123

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