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Calvert County Maryland
Comprehensive Annual
Financial Report
For the fiscal year ended June 30, 2012
Calvert County Maryland
Comprehensive AnnualFinancial Report
For the fiscal year ended June 30, 2012
Prepared by:Department of Finance & Budget
Calvert County, Maryland
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
JUNE 30, 2012
TABLE OF CONTENTS
INTRODUCTORY SECTION PAGE
Letter of Transm�ttal �-vCert�f�cate of Ach�evement for Excellence �n F�nanc�al Report�ng v�Certa�n Elected and Appo�nted Off�c�als v��Organ�zat�onal Chart-Calvert County v���
FINANCIAL SECTION
Independent Aud�tor's Report �-�
Management's D�scuss�on and Analys�s (requ�red supplementary �nformat�on) �-��
Bas�c F�nanc�al StatementsStatement of Net Pos�t�on �� Statement of Act�v�t�es ��-��Balance Sheet �� Statement of Revenues, Expend�tures and Changes �n Fund Balance - �0 Governmental FundsReconc�l�at�on of the Statement of Revenues, Expend�tures and Changes �n �� Fund Balance of the Governmental Funds to the Statement of Act�v�t�esStatement of Net Pos�t�on - Propr�etary Funds �� Statement of Revenue, Expenses and Changes �n Fund Net Pos�t�on - �� Propr�etary FundsStatement of Cash Flows - Propr�etary Funds �� Statement of F�duc�ary Net Pos�t�on �� Statement of Changes �n F�duc�ary Net Pos�t�on ��
Notes to F�nanc�al Statements ��-��
Requ�red Supplementary Informat�onSummary Schedule of Revenue and Expend�tures, and Other F�nanc�ng �� Sources and Uses - Budget and Actual (Budgetary Bas�s) - General FundSchedule of Pens�on Fund Fund�ng Progress & Employer Contr�but�ons Calvert County Maryland Post-Employment Benef�t Plan �� Calvert County Employees Ret�rement Plan �� Calvert County Sher�ff's Department Plan �� Length of Serv�ce Awards Program (Volunteer F�re Departments & Rescue Squads) ��
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
JUNE 30, 2012
TABLE OF CONTENTS (Continued)
Other Supplementary Informat�onSchedule of Revenue and Other F�nanc�ng Sources - Budget and Actual �0-�� (Budgetary Bas�s) - General FundSchedule of Expend�tures and Other F�nanc�ng Uses - Budget and Actual ��-�0 (Budgetary Bas�s) - General Fund
Nonmajor Funds and Other SchedulesComb�n�ng Balance Sheet - Nonmajor Governmental Funds ��-��Comb�n�ng Statement of Revenue, Expend�tures and Changes �n Fund Balance ��-�� Nonmajor Governmental Funds
Comb�n�ng Statement of Net Pos�t�on - Nonmajor Propr�etary Funds �� Comb�n�ng Statement of Revenue, Expenses and Changes �n Fund Net Pos�t�on - �� Nonmajor Propr�etary FundsComb�n�ng Statement of Cash Flows - Nonmajor Propr�etary Funds ��
Component Un�t Statement of Net Pos�t�on - Econom�c Development Author�ty �� Component Un�t Statement of Revenue, Expenses and Changes �n Fund Net Pos�t�on - �� Econom�c Development Author�tyComponent Un�t Statement of Cash Flows - Econom�c Development Author�ty �0 Comb�n�ng Schedule of Revenues, Expenses and Changes �n Net Pos�t�on - �� Water and Sewer Fund
Statement of Changes �n Assets and L�ab�l�t�es - Agency Fund ��
Schedule of Notes Rece�vable - Volunteer F�re Departments and Rescue Squads �� General Fund
Schedule of Real and Personal Taxes Rece�vable - General Fund ��
Comb�n�ng Statement of Revenues, Expend�tures and Changes �n Fund Equ�ty �� Calvert County Fam�ly Network
Compl�ance ReportReport on �nternal control over f�nanc�al report�ng and on compl�ance and other ��-�� matters based on an aud�t of f�nanc�al statements performed �n accordance w�th Government Auditing Standards
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
JUNE 30, 2012
TABLE OF CONTENTS (Continued)
STATISTICAL SECTION
F�nanc�al Trend Data
Schedule � Net Pos�t�on by Category �� Schedule � Changes �n Net Pos�t�on ��-�00Schedule � General Tax Revenues �0� Schedule � Fund Balance of Governmental funds �0� Schedule � Changes �n Fund Balance of Governmental funds �0�
Revenue Capac�ty
Schedule � Assessed and Est�mated Actual Value of Taxable Property �0� Schedule � D�rect and Overlapp�ng Real Property Tax Rates �0� Schedule � Pr�nc�pal Property Taxpayers �0� Schedule � Property Tax Lev�es and Collect�ons Schedule �0�
Debt Capac�ty
Schedule �0 Rat�os of Outstand�ng Debt by type �0� Schedule �� Rat�os of Net General Bonded Debt �0� Schedule �� Pledged-Revenue Coverage ��0
Demograph�c and Econom�c Informat�on
Schedule �� Demograph�c and Econom�c Stat�st�cs ��� Schedule �� Pr�nc�pal Employers ���
Operat�ng Informat�on
Schedule �� Full T�me Equ�valent Calvert County Employees by Funct�on ��� Schedule �� Operat�ng Ind�cators by Funct�on ��� Schedule �� Cap�tal Asset Stat�st�cs by Funct�on ���
“THIS PAGE LEFT INTENTIONALLY BLANK”
Introductory Section
“THIS PAGE LEFT INTENTIONALLY BLANK”
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for the f�scal year ended June �0, �0�� are free of mater�al m�sstatement. The �ndependent aud�t �nvolved exam�n�ng, on a test bas�s, ev�dence support�ng the amounts and d�sclosures �n the f�nanc�al statements; assess�ng the account�ng pr�nc�ples used and s�gn�f�cant est�mates made by management; and evaluat�ng the overall f�nanc�al statement presentat�on. The �ndependent aud�tor concluded based upon the aud�t, that there was a reasonable bas�s for render�ng an unqual�f�ed (“clean”) op�n�on that the f�nanc�al statements are fa�rly presented �n conform�ty w�th GAAP. The aud�tor’s report �s presented as the f�rst component of the f�nanc�al sect�on of th�s report. Also prepared by the aud�tors �s a “report on �nternal control over f�nanc�al report�ng and on compl�ance and other matters based on an aud�t of f�nanc�al statements performed �n accordance w�th government aud�t�ng standards”. Th�s report �s presented on pages �� & ��.
GAAP requ�re that management prov�de a narrat�ve �ntroduct�on, overv�ew, and analys�s to accompany the bas�c f�nanc�al statements �n the form of Management’s D�scuss�on and Analys�s (MD&A). Th�s letter of transm�ttal �s des�gned to complement MD&A and should be read �n conjunct�on w�th �t. The Calvert County Government’s MD&A can be found �mmed�ately follow�ng the report of the �ndependent aud�tors on page �.
PROFILE OF THE GOVERNMENT
Calvert County, Maryland was formed as one of the or�g�nal count�es �n Maryland �n ���� and has a Comm�ss�oner form of government. A board of f�ve Comm�ss�oners governs the County and serves the execut�ve and leg�slat�ve funct�ons. The Comm�ss�oners operate under a Code of Publ�c Local Laws of Calvert County, rev�sed �n ����, and are subject to leg�slat�on adopted by the State Leg�slature. "Beg�nn�ng w�th the general elect�on to be held �n Calvert County �n November ����, f�ve county comm�ss�oners shall be elected by countyw�de vote. One shall be a res�dent of the f�rst elect�on d�str�ct, one a res�dent of the second d�str�ct, and one a res�dent of the th�rd elect�on d�str�ct of the county. Of the rema�n�ng cand�dates, the two rece�v�ng the h�ghest number of votes shall be selected. Comm�ss�oners who are elected and qual�fy shall take off�ce the th�rd Tuesday of December follow�ng elect�on. Each comm�ss�oner shall hold off�ce for � years or unt�l a successor �s elected and qual�f�ed (Code ����, § �-�0�; ����,ch ���, § �.)"
There are several other elected off�c�als �n Calvert County that �nclude: Reg�ster of W�lls, Sher�ff, States Attorney, Treasurer, Mayor of the Town of Chesapeake Beach, Mayor of the Town of North Beach, Clerk of the C�rcu�t Court, and f�ve members of the Board of Educat�on.
The Comm�ss�oners appo�nt a County Adm�n�strator who �s respons�ble for the day-to-day adm�n�strat�on of the County government. The Comm�ss�oners establ�sh pol�cy, enact ord�nances, rev�ew and approve annual budgets, conduct publ�c hear�ngs and make dec�s�ons on land use matters. The Comm�ss�oners also appo�nt all department heads, members of boards and comm�ss�ons and represent the county �n deal�ngs w�th other mun�c�pal�t�es, the state and federal government. The off�ce of the Comm�ss�oners �s located at ��� Ma�n Street, Pr�nce Freder�ck, Maryland, �0���. The ma�n phone number �s ��0-���-��00 and the webs�te �s www.co.cal.md.us.
Calvert County occup�es ��� square m�les, has ��� m�les of shorel�ne, and serves a populat�on of about �0,000. It �s the smallest county �n Southern Maryland. Desp�te recent
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growth, Calvert County reta�ns �ts rural character and agrar�an roots, offer�ng good schools, a clean env�ronment and good qual�ty of l�fe. Calvert �s a pen�nsula, bounded by the Chesapeake Bay on the east and the Patuxent R�ver on the west. Steep cl�ffs and woods predom�nate on the bay s�de, wh�le along the Patuxent, roll�ng f�elds sl�p gently down to the r�ver. The County’s many creeks prov�de refuge for w�ldl�fe, as well as scen�c areas for boat�ng and f�sh�ng.
Pr�nce Freder�ck, the County seat, �s located �� m�les southeast of Wash�ngton, D.C. and �� m�les south of Balt�more. There are two �ncorporated towns �n Calvert County: North Beach and Chesapeake Beach, located on the bay at the northeast corner of the county. In add�t�on, the Comprehens�ve Plan �dent�f�es seven "town centers." These �nclude (from north to south) Dunk�rk, Ow�ngs, Hunt�ngtown, Pr�nce Freder�ck, St. Leonard, Lusby, and Solomons.
The County prov�des a full range of mun�c�pal serv�ces, �nclud�ng: publ�c safety, construct�on and ma�ntenance of h�ghways and streets, san�tat�on, health and soc�al serv�ces, culture/recreat�on, educat�on, publ�c �mprovements, plann�ng and zon�ng, and general adm�n�strat�ve serv�ces. The County �s also f�nanc�ally accountable for legally separate ent�t�es wh�ch are reported separately w�th�n the County’s f�nanc�al statements. The ent�t�es that meet these cr�ter�a are the Calvert County Board of Educat�on and the Econom�c Development Author�ty of Calvert County. Add�t�onal �nformat�on on the component un�ts can be found �n Note �.
Calvert County’s annual operat�ng and cap�tal budget represents a comprehens�ve f�nanc�al plan for the County effect�ve each year on the f�rst day of July. Each County department, agency, or board rece�v�ng county funds subm�ts a budget request to the Comm�ss�oners at a publ�c hear�ng, v�a the Department of F�nance and Budget. Add�t�onal publ�c hear�ngs are conducted to obta�n taxpayer comments. On or before July � of each year, the budget �s legally enacted through passage of a resolut�on. No expend�ture of county funds may be made �n excess of appropr�at�on at the fund level. A Summary Schedule of Revenues, Expend�tures, and Other F�nanc�ng Sources and Uses - Budget and Actual (budgetary bas�s) can be found on page �� of th�s report. The cap�tal projects fund budget �s prepared on a project length bas�s and, accord�ngly, annual budgetary compar�sons are not presented �n the bas�c f�nanc�al statements and supplemental �nformat�on.
FACTORS AFFECTING FINANCIAL CONDITION
Local economy: Conservat�ve f�scal management has allowed the County to ma�nta�n a sound f�nanc�al pos�t�on. Property taxes and �ncome taxes prov�de the major�ty (�� percent, budgetary bas�s, �n f�scal year �0��) of the revenue for the General Fund of the Calvert County Government. Property taxes have f�nally succumbed to the underly�ng real�ty of weaken�ng property values. Income tax revenue decl�ned on a year over year bas�s �n f�scal year �00� and aga�n �n f�scal year �0�0. In, f�scal year �0��, a new record level of �ncome tax was real�zed. FY �0�� �s expected to cont�nue at th�s �ncreased level.
Property tax, the largest revenue source, represented �� percent of the total General Fund revenue for f�scal year �0��. Along w�th the rest of the Country, Calvert County’s property values have decreased from peak levels. Th�s decrease �n value �s expected to lower the real property tax revenue �n f�scal years �0�� and �0��. The number of res�dent�al bu�ld�ng perm�ts �ssued �n f�scal year �0�� was ���, an �ncrease of �� percent or �� perm�ts from the
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pr�or f�scal year. Property taxes have been buoyed by publ�c ut�l�ty prov�ders and �n some cases �ncreased.
Income tax revenue, at �� percent of the total General Fund revenue for f�scal year �0��, �s d�rectly affected by personal �ncome levels, employment levels, and populat�on growth. The med�an household �ncome for Calvert County �n �00� was $�0,���, one of the h�ghest levels �n the nat�on for a county of our s�ze. Income tax revenues were strong �n FY �0�� and based on project�ons by the State of Maryland, moderate �ncreases are expected to cont�nue.
Long-term financial planning: Calvert County annually adopts a Cap�tal Budget and prepares a f�ve year Cap�tal Improvement Plan. There �s also a four year f�nanc�al forecast prepared of general fund revenues and expenses. These are the County’s pr�mary f�nanc�al management plann�ng tools.
The f�scal year �0�� budget reflected educat�on, roads, and publ�c fac�l�t�es as the cont�nued top pr�or�t�es of the County’s adm�n�strat�on. W�th�n the Cap�tal Improvements Program Budget for F�scal Year �0��, �� percent was ded�cated to new school construct�on, add�t�ons, renovat�ons, and the ma�ntenance of ex�st�ng fac�l�t�es. Most of th�s allocat�on �s for the replacement of Calvert H�gh school.
The County cont�nues �ts pol�cy of ma�nta�n�ng a reserve of � percent of current budgeted General Fund expend�tures to protect �ts h�gh cred�t rat�ngs. The County ma�nta�ns add�t�onal reserve funds as a means to handle potent�al revenue shortfalls, to fund one-t�me non-recurr�ng expend�tures, or �n the event of emergency or unplanned expend�tures. In add�t�on, the County has ass�gned a port�on of fund balances for future other post- employment benef�ts and accrued leave. The County has exper�enced regular cred�t rat�ng upgrades �n recent years. The latest rat�ngs, rece�ved dur�ng f�scal year �0��, were Aa� from Moody’s Investors Serv�ce, Inc., AAA from Standard & Poor’s, and AAA from F�tch Rat�ngs.
In ���0, the County adopted a debt affordab�l�ty model to ensure that the debt levels are kept at an affordable, manageable, moderate level. A debt pol�cy was adopted �n FY �00� to comply w�th the State of Maryland’s new requ�rement. The gu�del�nes created �n ���0 and rat�f�ed �n th�s pol�cy, establ�sh max�mum acceptable debt rat�os. These rat�os and the�r max�mum acceptable levels are: �) debt to assessed value, �.� percent, �) debt serv�ce as a percent of general fund revenue, �.� percent, and �) debt per cap�ta $�,�00. Us�ng f�scal year �0�� data, the County’s current rat�os are as follows: debt to assessed value �s .�0 percent, debt serv�ce to general fund revenue �s �.� percent, and debt per cap�ta �s $�,���.
AWARDS AND ACKNOWLEDGEMENTS
The Government F�nance Off�cers Assoc�at�on of the Un�ted States and Canada (GFOA) awarded a Cert�f�cate of Ach�evement for Excellence �n F�nanc�al Report�ng to Calvert County Government for �ts comprehens�ve annual f�nanc�al report for the f�scal year ended June �0, �0��. In order to be awarded a Cert�f�cate of Ach�evement, a government must publ�sh an eas�ly readable and eff�c�ently organ�zed comprehens�ve annual f�nanc�al report. Th�s report must sat�sfy both generally accepted account�ng pr�nc�ples and appl�cable legal requ�rements.
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COUNTY COMMISSIONERS OF CALVERT COUNTY ___________________________
CERTAIN ELECTED OFFICIALS Pat Nutter
Pres�dent, Board of County Comm�ss�oners
Steven R. Weems V�ce Pres�dent, Board of County Comm�ss�oners
Susan Shaw Comm�ss�oner
Gerald W. Clark Comm�ss�oner
Evan K. Slaughenhoupt Jr. Comm�ss�oner
Novalea Tracy-Soper Treasurer
___________________________
CERTAIN APPOINTED OFFICIALS
Terry L. Shannon County Adm�n�strator
T�mothy Hayden D�rector of F�nance and Budget
Charles R. Johnston D�rector of Plann�ng and Zon�ng
L�nda Vassallo D�rector of Econom�c Development
Terry P. Carlson, P.E. D�rector of Publ�c Works
Jacquel�ne K. Vaughan D�rector of Publ�c Safety
___________________________
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INDEPENDENT AUDITOR’S REPORT
County Commissioners of Calvert County, MarylandPrince Frederick, Maryland
We have audited the accompanying financial statements of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information of the County Commissioners of Calvert County, Maryland, as of and for the year ended June 30, 2012, which collectively comprise the County’s basic financial statements as listed in the table of contents. These financial statements are the responsibility of the County Commissioners of Calvert County, Maryland’s management. Our responsibility is to express opinions on these financial statements based on our audit. We did not audit the financial statements of the Calvert County Board of Education, which represent 38 percent, 50 percent and 48 percent, respectively of the assets, net position and revenues of the total reporting entity. Those financial statements were audited by other auditors whose report thereon has been furnished to us, and our opinion, insofar as it relates to the amounts included for the Calvert County Board of Education, is based on the report of the other auditors.
We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and the significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit and the report of other auditors provide a reasonable basis for our opinions.
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In our opinion, based on our audit and the report of other auditors, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, and the aggregateremaining fund information of the County Commissioners of Calvert County, Maryland, as of June 30, 2012, and the respective changes in financial position, and cash flows, where applicable, thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America.
Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis, budgetary comparison information, and historical pension and other post employment benefit schedules on pages 4 through 15 and 65 through 69 be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We and the other auditors have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the County Commissioners of Calvert County, Maryland’s financial statements as a whole. The introductory section, combining and individual nonmajor fund financial statements, and statistical section are presented for purposes of additional analysis and are not a required part of the financial statements.The combining and individual nonmajor fund financial statements and schedules listed in the table of contents under other supplemental information are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied by us and the other auditors in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in
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the United States of America. In our opinion, based on our audit and the report of other auditors, the information is fairly stated in all material respects in relation to the financial statements as a whole. The introductory and statistical sections have not been subjected to the auditing procedures applied by us and the other auditors in the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them.
Clinton, Maryland December 19, 2012
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COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
MANAGEMENT’S DISCUSSION AND ANALYSIS
Th�s sect�on of the Annual F�nanc�al Report of Calvert County, Maryland presents a narrat�ve overv�ew and analys�s of the f�nanc�al act�v�t�es of Calvert County Government for the f�scal year ended June �0, �0��. We encourage readers to use the �nformat�on presented here �n conjunct�on w�th the accompany�ng bas�c f�nanc�al statements and the accompany�ng notes to those f�nanc�al statements.
Financial Highlights
Government-w�de:
The assets of Calvert County Government exceeded �ts l�ab�l�t�es at the close of the most recent f�scal year by $�0�.� m�ll�on (net position). �� percent of th�s amount �s attr�butable to the bus�ness-type act�v�t�es that �nclude the Water and Sewer Fund, the Sol�d Waste and Recycl�ng Fund, the Calvert Mar�ne Museum and the Chesapeake H�lls Golf Course. Of total net pos�t�on, $��.� m�ll�on (unrestricted net position) may be used to meet ongo�ng obl�gat�ons to c�t�zens and cred�tors ($��.� m�ll�on of th�s amount �s related to governmental act�v�t�es and $�.� m�ll�on �s attr�butable to the bus�ness-type act�v�t�es), $�0.� m�ll�on �s restr�cted for spec�f�c purposes (restricted net position), and $���.� m�ll�on �s �nvested �n cap�tal assets, net of related debt. Included as restr�cted cash �s $��.� m�ll�on of wh�ch $�0.� m�ll�on represents bond proceeds.
The government’s total net pos�t�on has decreased by $�0�,�0�; a $���,��� �ncrease was related to the governmental act�v�t�es and a decrease of $���,��� was related to the bus�ness-type act�v�t�es.
Fund Level:
In accordance w�th Governmental Account�ng Standards Board Statement No. ��, effect�ve for the year ended June �0, �0��, new fund balance categor�es were establ�shed for f�nanc�al report�ng purposes of all governmental funds. These new categor�es, nonspendable, restr�cted, comm�tted, ass�gned, and unass�gned, were establ�shed to enhance fund balance presentat�on and �mprove the usefulness of fund balance �nformat�on.
As of June �0, �0��, the County’s governmental funds reported comb�ned fund balances of $��0.0 m�ll�on, a decrease of $�.� m�ll�on from the pr�or year. Approx�mately ��.� percent of th�s total amount, $�0�.� m�ll�on �s ava�lable to meet the County’s current and future needs (committed, assigned and unassigned). Of th�s total, $��.� m�ll�on (pr�or year, $��.� m�ll�on) has been ded�cated for certa�n purposes, �nclud�ng, $��.� m�ll�on for approved cap�tal projects, $�.� m�ll�on for employee leave obl�gat�ons payouts, $�.� m�ll�on for purposes w�th�n spec�al revenue funds and $�.� m�ll�on for other post employment benef�ts (GASB 45).
The propr�etary funds operat�ng revenue �ncreased by $�00,��� or �.� percent.
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At the close of the current f�scal year, the ava�lable fund balance for the General Fund was $��.0 m�ll�on (committed, assigned and unassigned), or ��.� percent of total f�scal year �0�� General Fund budgetary expend�tures and other f�nanc�ng uses. Nonspendable and restr�cted fund balance of the General Fund was $�.� m�ll�on, or ��.� percent of fund balance.
Calvert County Government �ssued new general obl�gat�on bonds of $�.� m�ll�on dur�ng f�scal year �0��. The purpose of th�s debt was to f�nance several major cap�tal projects �nclud�ng Calvert H�gh School, the Substance Abuse Center, College of Southern Maryland and water and sewer projects.
Overview of the Financial Statements
Th�s d�scuss�on and analys�s �s �ntended to serve as an �ntroduct�on to Calvert County Government’s bas�c f�nanc�al statements. Calvert County Government’s bas�c f�nanc�al statements are compr�sed of three components: �) government-w�de f�nanc�al statements, �) fund f�nanc�al statements, and �) notes to the f�nanc�al statements. Th�s report also conta�ns other requ�red and non-requ�red supplementary �nformat�on.
Government-wide financial statements: The government-wide financial statements are des�gned to prov�de readers w�th a broad overv�ew of Calvert County Government’s f�nances, �n a manner comparable to a pr�vate-sector bus�ness. The government-w�de f�nanc�al statements can be found on pages �� to �� of th�s report. These statements are descr�bed next:
The statement of net position presents �nformat�on on all of Calvert County Government’s assets and l�ab�l�t�es, w�th the d�fference between the two reported as netposition. Over t�me, �ncreases or decreases �n net pos�t�on may serve as a useful �nd�cator of whether the f�nanc�al pos�t�on and cond�t�on of Calvert County Government �s �mprov�ng or deter�orat�ng.
The statement of activities presents �nformat�on show�ng how the government’s net pos�t�on changed dur�ng the most recent f�scal year. All changes �n net pos�t�on are reported as soon as the underly�ng event g�v�ng r�se to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported �n th�s statement for some �tems that w�ll only result �n cash flows �n future f�scal per�ods (e.g., uncollected taxes and earned but unused vacat�on leave).
Both of the government-w�de f�nanc�al statements d�st�ngu�sh funct�ons of Calvert County Government that are pr�nc�pally supported by taxes and �ntergovernmental revenues (governmental activities) from other funct�ons that are �ntended to recover all or a s�gn�f�cant port�on of the�r costs through user fees and charges (business-type activities). The governmental act�v�t�es of Calvert County Government �nclude: general government, publ�c safety, publ�c works, health and hosp�tals, soc�al serv�ces, educat�on, recreat�on and culture, conservat�on of natural resources, urban development and hous�ng, econom�c development, and debt serv�ce. The bus�ness-type act�v�t�es of Calvert County Government �nclude: water and sewer, sol�d waste & recycl�ng, Calvert Mar�ne Museum operat�ons and the Chesapeake H�lls Golf Course.
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The government-w�de f�nanc�al statements �nclude not only Calvert County Government �tself (known as the primary government), but also legally separate component un�ts. Calvert County Government has the follow�ng component un�ts: Calvert County Board of Educat�on and Econom�c Development Author�ty. F�nanc�al �nformat�on for these component units �s reported separately from the f�nanc�al �nformat�on presented for the pr�mary government �tself.
Fund financial statements: A fund �s a group�ng of related accounts that �s used to ma�nta�n control over resources that have been segregated for spec�f�c act�v�t�es or object�ves. Calvert County Government, l�ke other state and local governments, uses fund account�ng to ensure and demonstrate compl�ance w�th f�nance-related legal requ�rements. All of the funds of Calvert County Government can be d�v�ded �nto three categor�es: governmental funds, propr�etary funds, and f�duc�ary funds.
Governmental funds: Governmental funds are used to account for essent�ally the same funct�ons reported as governmental activities �n the government-w�de f�nanc�al statements. However, unl�ke the government-w�de f�nanc�al statements, governmental fund f�nanc�al statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources ava�lable at the end of the f�scal year. Such �nformat�on may be useful �n evaluat�ng a government’s near-term f�nanc�ng requ�rements.
Because the focus of governmental funds �s narrower than that of the government-w�de f�nanc�al statements, �t �s useful to compare the �nformat�on presented for governmental funds w�th s�m�lar �nformat�on presented for governmental activities �n the government-w�de f�nanc�al statements. By do�ng so, readers may better understand the long-term �mpact of the government’s near-term f�nanc�ng dec�s�ons. Both the governmental fund balance sheet and the governmental fund statement of revenues, expend�tures, and changes �n fund balances prov�de a reconc�l�at�on to fac�l�tate th�s compar�son between governmental funds and governmental activities.
Calvert County Government ma�nta�ns �� �nd�v�dual governmental funds: the General, Plann�ng and Zon�ng, Board of L�brary Trustees, Parks and Recreat�on, Bar L�brary, Econom�c Development Author�ty Revolv�ng Loan, Revolv�ng Loan, Calvert County Fam�ly Network, Exc�se Tax, Econom�c Development Incent�ve, Grants, Land Preservat�on, and Cap�tal Projects funds. Informat�on �s presented separately �n the governmental fund balance sheet and �n the governmental fund statement of revenues, expend�tures, and changes �n fund balances for the general and cap�tal projects funds w�th a summary of the other funds, referred to as nonmajor governmental funds.
Calvert County Government adopts an annual appropr�ated budget for �ts General Fund. To demonstrate compl�ance w�th th�s budget, a budgetary compar�son statement has been prov�ded for the General Fund, the County’s pr�mary fund. The summary schedule on a budgetary bas�s for the General Fund can be found �n the Required Supplementary Information sect�on on page �� of th�s report.
Proprietary funds: Propr�etary funds, also known as enterpr�se funds, are used to report the same funct�ons presented as business-type activities �n the government-w�de f�nanc�al statements. Calvert County Government uses enterpr�se funds to account for �ts water and sewer, sol�d waste and recycl�ng, Calvert Mar�ne Museum and Chesapeake H�lls Golf Course act�v�t�es. Note that the Calvert Mar�ne Museum and Chesapeake H�lls Golf Course are comb�ned �n the column “Nonmajor Propr�etary Funds” �n the bas�c propr�etary fund f�nanc�al statements found on pages �� to �� of th�s report.
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Fiduciary funds: F�duc�ary funds are used to account for resources held for the benef�t of part�es outs�de the government. F�duc�ary funds are not reflected �n the government-w�de f�nanc�al statement because the resources of those funds are not ava�lable to support Calvert County Government’s own programs. The account�ng used for f�duc�ary funds �s much l�ke that used for propr�etary funds. The bas�c f�duc�ary fund f�nanc�al statements can be found on pages �� and �� of th�s report.
Notes to the financial statements: The notes prov�de add�t�onal �nformat�on that �s essent�al to a full understand�ng of the data prov�ded �n the government-w�de and fund f�nanc�al statements. The notes to the f�nanc�al statements are part of the bas�c f�nanc�al statements and can be found on pages �� to �� of th�s report.
Other information: In add�t�on to the bas�c f�nanc�al statements and accompany�ng notes, th�s report also presents certa�n required supplementary information, other supplementary information, and a statistical section concern�ng Calvert County Government. Other supplementary �nformat�on can be found beg�nn�ng on page �0 of th�s report.
Government-wide Financial Analysis
Th�s �s the eleventh report�ng per�od that the Governmental Account�ng Standards Board (GASB) Statement No. �� has been appl�ed �n the preparat�on of the f�nanc�al statements of Calvert County Government.
As noted earl�er, net pos�t�on may serve over t�me as a useful �nd�cator of a government’s overall f�nanc�al cond�t�on and pos�t�on. In f�scal year �0�� assets exceeded l�ab�l�t�es by $�0�.� m�ll�on (pr�or year, $�0�.0 m�ll�on).
As shown �n the chart on the follow�ng page t�tled “Calvert County Government’s Changes �n Net Pos�t�on” Calvert County Government’s net pos�t�on �s d�v�ded �nto three categor�es:
�nvested �n cap�tal assets, net of related debt; o ��.� percent of total net pos�t�on (��.� percent, pr�or year)
restr�cted net pos�t�on; o �.� percent of total net pos�t�on (�.� percent, pr�or year)
unrestr�cted net pos�t�on o ��.� percent of total net pos�t�on (��.� percent, pr�or year)
Investment �n cap�tal assets net of deprec�at�on �ncludes the County’s purchases of land and easements, bu�ld�ngs, mach�nery, equ�pment, �nfrastructure and �mprovements, less any un-matured debt used to acqu�re those assets. The County uses these cap�tal assets to prov�de serv�ces to c�t�zens. Restr�cted net pos�t�on are resources that are subject to external restr�ct�ons on how they may be used. Unrestr�cted net pos�t�on may be used to meet the government’s ongo�ng obl�gat�ons to c�t�zens and cred�tors.
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The follow�ng table �nd�cates the changes �n net pos�t�on for governmental and bus�ness-type act�v�t�es:
Governmental activities: Net pos�t�on of the Governmental act�v�t�es �ncreased by $���,��� (pr�or year, an �ncrease of $��.� m�ll�on). F�scal Year �0��’s �ncrease was l�m�ted, �n part; by the use of some of the est�mated surplus to forward fund some of the County’s planned F�scal Year �0�� expenses.
Business-type activities: Bus�ness-type act�v�t�es decreased Calvert County Government’s net pos�t�on by $���,��� (pr�or year, a decrease of $���,���). Th�s decrease �s the result of the Chesapeake H�lls Golf Course and Calvert Mar�ne Museum’s net pos�t�on decreas�ng part�ally offset by the pos�t�ve results of the Water and Sewer Fund and Sol�d Waste fund.
The Board of County Comm�ss�oners began a seven year water and sewer rate plan �n January �00� to phase-�n rate adjustments so that revenues w�ll eventually cover the costs of operat�ons. Unt�l such t�me that the rates have been fully adjusted, the County plans to use reserves to fund the def�c�t for the Water and Sewer Fund. At the end of f�scal year �0��, the long term part of these advances total $�.� m�ll�on. Th�s def�c�t �s ant�c�pated to be �n excess of $�.� m�ll�on at the end of the phase-�n per�od. The Board of County Comm�ss�oners w�ll determ�ne the payback method of th�s amount when the phase-�n �s complete.
The Sol�d Waste and Recycl�ng Fund had an �ncrease �n net pos�t�on of $�00,���, expla�ned by pos�t�ve operat�ng results. Lowered revenues due to the econom�cally sens�t�ve waste stream were offset by strong cost controls. The Calvert Mar�ne Museum had a decrease of $���,��� �n net pos�t�on. The Chesapeake H�lls Golf Course decreased by $���,��� to net pos�t�on. F�scal year �0�� was the th�rd year that the County’s Parks and Recreat�on d�v�s�on managed the golf course. Although post�ng an accrual account�ng bas�s loss of $�0�,���, on a cash bas�s (w�th the most s�gn�f�cant adjustment be�ng deprec�at�on) the golf course came out sl�ghtly ahead.
The chart on the follow�ng page reflects the revenues and program expenses for the governmental and the bus�ness-type act�v�t�es and the changes �n net pos�t�on for the year ended June_�0:
2012 2011 Difference 2012 2011 Difference 2012 2011 Difference
Current and other assets 180,626,550$ 190,351,003$ (9,724,453)$ 9,928,624$ 7,024,466$ 2,904,158$ 190,555,174$ 197,375,469$ (6,820,295)$ Capital assets 184,902,951 180,174,725 4,728,226 49,200,956 48,543,997 656,959 234,103,907 228,718,722 5,385,185
Total Assets 365,529,501$ 370,525,728$ (4,996,227) 59,129,580 55,568,463 3,561,117 424,659,081 426,094,191 (1,435,110)
Long-term liabilities 138,861,937$ 139,303,679$ (441,742)$ 18,057,479$ 15,209,948$ 2,847,531$ 156,919,416$ 154,513,627$ 2,405,789$ Other liabilities 56,255,806 60,999,282 (4,743,476) 3,580,845 2,574,767 1,006,078 59,836,651 63,574,049 (3,737,398)
Total Liabilities 195,117,743$ 200,302,961$ (5,185,218) 21,638,324 17,784,715 3,853,609 216,756,067 218,087,676 (1,331,609)
Net Position:Invested in capital assets, net of related debt 116,545,107$ 109,943,246$ 6,601,861$ 32,568,768$ 34,549,717$ (1,980,949)$ 149,113,875$ 144,492,963$ 4,620,912$ Restricted 17,390,548 17,137,497 253,051 2,787,892 2,336,457 451,435 20,178,440 19,473,954 704,486 Unrestricted 36,476,103 43,142,024 (6,665,921) 2,134,596 897,574 1,237,022 38,610,699 44,039,598 (5,428,899)
Total Net Position 170,411,758$ 170,222,767$ 188,991$ 37,491,256$ 37,783,748$ (292,492)$ 207,903,014$ 208,006,515$ (103,501)$
Governmental Activities Business-type Activities Total
Calvert County's Government's Change in Net Position
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most s�gn�ft�ons and �nt�ons �s mosnsfer was �nt
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two charts urevenues annt of the tota:
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l�qu�date contracts and purchase orders of the pr�or per�od, �) for �nventor�es, or �) ded�cated for a var�ety of constra�ned purposes. Add�t�onal deta�ls of fund balance are presented �n Note � w�th�n the notes sect�on of these f�nanc�al statements.
The General Fund �s the ch�ef operat�ng fund of Calvert County Government. At the end of the current f�scal year, the ass�gned and unass�gned fund balance of the General Fund was $��.� m�ll�on (pr�or year, $��.0 m�ll�on), wh�le total fund balance was $��.� m�ll�on (pr�or year, $��.� m�ll�on). As a measure of the General Fund’s l�qu�d�ty, �t may be useful to compare both ass�gned and unass�gned fund balance and total fund balance to total fund expend�tures. Ass�gned and unass�gned fund balance represents ��.0 percent of the total General Fund budgetary expend�tures and other f�nanc�ng uses (pr�or year, ��.� percent), wh�le total fund balance represents ��.0 percent (pr�or year, ��.� percent) of that same amount.
The fund balance of Calvert County Government’s General Fund decreased by $��,��� (pr�or year �ncrease of $�.� m�ll�on). As noted prev�ously, staff had est�mated f�scal year �0�� would have surplus funds and used some of that fund�ng to pay for ant�c�pated f�scal year �0�� expenses. Many revenue and expense l�ne �tem var�ances resulted �n the County’s budgetary loss of $�00,���.
The Cap�tal Projects Fund has a total fund balance of $��.� m�ll�on (pr�or year, $��.� m�ll�on) of wh�ch the balance �s comm�tted or ass�gned for future cap�tal project expend�tures. Unspent bond proceeds of $��.� m�ll�on make up ��.� percent of the total ass�gned fund balance (pr�or year, $��.� m�ll�on, ��.� percent).
Proprietary funds: Calvert County Government’s propr�etary fund statements prov�de the same type of �nformat�on found �n the government-w�de f�nanc�al statements, but �n more deta�l. Overall the net pos�t�on of the propr�etary funds decreased $0.� m�ll�on (pr�or year, decrease of $.� m�ll�on). At the end of the year, unrestr�cted net pos�t�on of the Water and Sewer Fund amounted to negat�ve $�.� m�ll�on (pr�or year, negat�ve $�.� m�ll�on). The Sol�d Waste and Recycl�ng Fund reported $�.� m�ll�on �n unrestr�cted net pos�t�on (pr�or year, $�.� m�ll�on). The Calvert Mar�ne Museum ended the year w�th $�.� m�ll�on of total net pos�t�on (pr�or year, $�.� m�ll�on) and the Chesapeake H�lls Golf Course ended the year w�th $�.� m�ll�on of total net pos�t�on (pr�or year, $�.� m�ll�on).
General Fund Budgetary Highlights
The f�nal budget for the General Fund was �ncreased by $�.� m�ll�on over the or�g�nal budget (pr�or year, $�.� m�ll�on �ncrease). The major�ty of the budget adjustment was related to �ncome tax revenue and an OPEB transfer. Overall expend�tures were less than the f�nal budget by $�.� m�ll�on. There are many var�ances w�th�n the �,�00 budgeted l�ne �tems of the general fund. Three notable pos�t�ve var�ances are ut�l�t�es, w�th a $��0,000 sav�ngs, cont�ngent expenses, w�th a $���,000 sav�ngs and contracted serv�ce sav�ngs throughout the general fund of $���,000. Revenues were $�.� m�ll�on less than the f�nal budgetary est�mates. $�.0 m�ll�on of th�s d�fference can be expla�ned by a planned use of fund balance that would not �mpact actual revenues. There was also a $�.0 m�ll�on transfer from the exc�se tax fund that was not made because of the better than expected results (planned $� m�ll�on use of fund balance vs. $��,��� actual). Exc�se tax may be used to pay for debt serv�ce and earl�er �n the year, the debt serv�ce expense est�mate was decreased by about $��0,000 through a budget adjustment.
-��-
Capital Asset and Debt Administration
Capital assets: Calvert County Government’s �nvestment �n cap�tal assets for �ts governmental and bus�ness-type act�v�t�es as of June �0, �0��, amounts to $���.� m�ll�on (pr�or year, $���.� m�ll�on), net of accumulated deprec�at�on. Th�s �nvestment �n cap�tal assets �ncludes: land, land development r�ghts, construct�on �n progress, bu�ld�ngs, �mprovements, mach�nery and equ�pment, and �nfrastructure.
Major cap�tal asset events dur�ng the current f�scal year �ncluded the follow�ng: Completed the HVAC renovat�ons to the Detent�on Center w�th a cost of $��� thousand.Completed construct�on of Bus Canopy w�th a total cap�tal�zed cost of $��0 thousand. Completed work on part of the Pr�nce Freder�ck Loop Road w�th a cost of $�.� m�ll�on. Completed the skate board park at Dunk�rk D�str�ct Park for a cap�tal�zed cost of $��� thousand.
Add�t�onal �nformat�on on Calvert County’s cap�tal assets can be found �n Note � of th�s report.
Long-term debt: At the end of the current f�scal year, Calvert County Government had total general obl�gat�on debt and notes payable outstand�ng of $���.� m�ll�on (pr�or year, $���.� m�ll�on). The full fa�th and cred�t and unl�m�ted tax�ng power of the County are �rrevocably pledged to levy and collect taxes �n order to prov�de for the payment of pr�nc�pal and �nterest due on the debt. Of th�s amount, $��.� m�ll�on (pr�or year, $��.� m�ll�on) are cons�dered self-support�ng bonds, funded through var�ous surcharges and assessments related to the operat�on of the water and sewerage, sol�d waste and recycl�ng systems, and the golf course of the County. W�th�n the governmental act�v�t�es are the $�.� m�ll�on (pr�or year, $�0.� m�ll�on) �n �nstallment purchase agreements for the land preservat�on program. The pr�nc�pal amount �s supported by US Treasury Str�p secur�t�es.
2012 2011 Difference 2012 2011 Difference 2012 2011 Difference
Land 30,775,992$ 30,775,992$ -$ 4,561,708$ 4,561,708$ -$ 35,337,700$ 35,337,700$ -$ Land development rights 11,245,305 11,245,305 - - - - 11,245,305 11,245,305 - Construction in progress 13,140,534 4,893,697 8,246,837 3,115,374 3,318,950 (203,576) 16,255,908 8,212,647 8,043,261 Buildings 34,210,400 35,988,643 (1,778,243) 25,128,782 26,612,639 (1,483,857) 59,339,182 62,601,282 (3,262,100) Improvements 19,056,434 19,946,083 (889,649) 9,059,156 9,224,493 (165,337) 28,115,590 29,170,576 (1,054,986) Machinery and equipment 14,233,150 13,818,969 414,181 7,323,792 4,826,389 2,497,403 21,556,942 18,645,358 2,911,584 Infrastructure 62,241,136 63,506,036 (1,264,900) - - - 62,241,136 63,506,036 (1,264,900)
Total Capital Assets 184,902,951$ 180,174,725$ 4,728,226$ 49,188,812$ 48,544,179$ 644,633$ 234,091,763$ 228,718,904$ 5,372,859$
Calvert County's Government's Capital Assets
Governmental Activities Business-type Activities Total
(Net of Depreciation)
2012 2011 Difference 2012 2011 Difference 2012 2011 Difference
General obligation debt 129,402,238$ 134,450,812$ (5,048,574) 10,823,463$ 7,335,104$ 3,488,359 140,225,701 141,785,916 (1,560,215) Notes payable 158,794 198,085 (39,291) 6,412,663 6,934,384 (521,721) 6,571,457 7,132,469 (561,012) Land preservation program 7,933,355 10,611,555 (2,678,200) - - - 7,933,355 10,611,555 (2,678,200)
Total Bonded Debt 137,494,387$ 145,260,452$ (7,766,065)$ 17,236,126$ 14,269,488$ 2,966,638$ 154,730,513$ 159,529,940$ (4,799,427)$
Calvert County's Government's Outstanding Debt
Governmental Activities Business-type Activities Total
Capital Asset and Debt Administration
Capital assets: Calvert County Government’s �nvestment �n cap�tal assets for �ts governmental and bus�ness-type act�v�t�es as of June �0, �0��, amounts to $���.� m�ll�on (pr�or year, $���.� m�ll�on), net of accumulated deprec�at�on. Th�s �nvestment �n cap�tal assets �ncludes: land, land development r�ghts, construct�on �n progress, bu�ld�ngs, �mprovements, mach�nery and equ�pment, and �nfrastructure.
Major cap�tal asset events dur�ng the current f�scal year �ncluded the follow�ng: Completed the HVAC renovat�ons to the Detent�on Center w�th a cost of $��� thousand.Completed construct�on of Bus Canopy w�th a total cap�tal�zed cost of $��0 thousand. Completed work on part of the Pr�nce Freder�ck Loop Road w�th a cost of $�.� m�ll�on. Completed the skate board park at Dunk�rk D�str�ct Park for a cap�tal�zed cost of $��� thousand.
Add�t�onal �nformat�on on Calvert County’s cap�tal assets can be found �n Note � of th�s report.
Long-term debt: At the end of the current f�scal year, Calvert County Government had total general obl�gat�on debt and notes payable outstand�ng of $���.� m�ll�on (pr�or year, $���.� m�ll�on). The full fa�th and cred�t and unl�m�ted tax�ng power of the County are �rrevocably pledged to levy and collect taxes �n order to prov�de for the payment of pr�nc�pal and �nterest due on the debt. Of th�s amount, $��.� m�ll�on (pr�or year, $��.� m�ll�on) are cons�dered self-support�ng bonds, funded through var�ous surcharges and assessments related to the operat�on of the water and sewerage, sol�d waste and recycl�ng systems, and the golf course of the County. W�th�n the governmental act�v�t�es are the $�.� m�ll�on (pr�or year, $�0.� m�ll�on) �n �nstallment purchase agreements for the land preservat�on program. The pr�nc�pal amount �s supported by US Treasury Str�p secur�t�es.
2012 2011 Difference 2012 2011 Difference 2012 2011 Difference
Land 30,775,992$ 30,775,992$ -$ 4,561,708$ 4,561,708$ -$ 35,337,700$ 35,337,700$ -$ Land development rights 11,245,305 11,245,305 - - - - 11,245,305 11,245,305 - Construction in progress 13,140,534 4,893,697 8,246,837 3,115,374 3,318,950 (203,576) 16,255,908 8,212,647 8,043,261 Buildings 34,210,400 35,988,643 (1,778,243) 25,128,782 26,612,639 (1,483,857) 59,339,182 62,601,282 (3,262,100) Improvements 19,056,434 19,946,083 (889,649) 9,059,156 9,224,493 (165,337) 28,115,590 29,170,576 (1,054,986) Machinery and equipment 14,233,150 13,818,969 414,181 7,323,792 4,826,389 2,497,403 21,556,942 18,645,358 2,911,584 Infrastructure 62,241,136 63,506,036 (1,264,900) - - - 62,241,136 63,506,036 (1,264,900)
Total Capital Assets 184,902,951$ 180,174,725$ 4,728,226$ 49,188,812$ 48,544,179$ 644,633$ 234,091,763$ 228,718,904$ 5,372,859$
Calvert County's Government's Capital Assets
Governmental Activities Business-type Activities Total
(Net of Depreciation)
2012 2011 Difference 2012 2011 Difference 2012 2011 Difference
General obligation debt 129,402,238$ 134,450,812$ (5,048,574) 10,823,463$ 7,335,104$ 3,488,359 140,225,701 141,785,916 (1,560,215) Notes payable 158,794 198,085 (39,291) 6,412,663 6,934,384 (521,721) 6,571,457 7,132,469 (561,012) Land preservation program 7,933,355 10,611,555 (2,678,200) - - - 7,933,355 10,611,555 (2,678,200)
Total Bonded Debt 137,494,387$ 145,260,452$ (7,766,065)$ 17,236,126$ 14,269,488$ 2,966,638$ 154,730,513$ 159,529,940$ (4,799,427)$
Calvert County's Government's Outstanding Debt
Governmental Activities Business-type Activities Total
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Calvert County Government’s total general obl�gat�on bonded debt decreased by $�.� m�ll�on, (pr�or year, an �ncrease of $��.� m�ll�on), or a negat�ve �.0 percent dur�ng the current f�scal year (pr�or year, an �ncrease of �.� percent).
In May �0��, the County’s cred�t rat�ngs were reaff�rmed by the three major rat�ng agenc�es. The current rat�ngs follow:
Standard & Poor’s “AAA” F�tch Rat�ngs “AAA” Moody’s Investors Serv�ce, Inc. “Aa�”
In ���0, the County adopted a debt affordab�l�ty model to ensure that the debt levels are kept at an affordable, manageable, moderate level. A debt pol�cy was adopted �n FY �0�0 to comply w�th the State of Maryland’s new requ�rement. The gu�del�nes created �n ���0 and rat�f�ed �n the pol�cy, establ�sh max�mum acceptable debt rat�os. These rat�os and the�r max�mum acceptable levels are: �) debt to assessed value, �.� percent, �) debt serv�ce as a percent of general fund revenue, �.� percent, and �) debt per cap�ta $�,�00. Us�ng f�scal year �0�� data, the County’s current rat�os are as follows: debt to assessed value �s .�0 percent, debt serv�ce to general fund revenue �s �.� percent, and debt per cap�ta �s $�,���.
Add�t�onal �nformat�on on Calvert County Government’s long-term debt can be found �n Note � of th�s report.
Economic Factors and Fiscal Year 2012’s Budgets and Rates
The est�mated total personal �ncome of County res�dents for calendar year �0�� �s $���.� m�ll�on ($���.� m�ll�on �n �0�0), an �ncrease of �.� percent. There was a �.� percent �ncrease from calendar year �00� to �0�0. The unemployment rate for the County and the State of Maryland rema�ned relat�vely flat from �0�� to �0�� at �.� percent and �.� percent, respect�vely.Real property tax assessments for the th�rd of the County that was reassessed for f�scal year �0�� were down on average ��.� percent.
All of these factors were cons�dered �n prepar�ng the Calvert County Government’s budget for the �0�� f�scal year. Calvert County Government has adopted a balanced budget for f�scal year �0��.
Requests for InformationTh�s f�nanc�al report �s des�gned to prov�de a general overv�ew of Calvert County Government’s f�nances for all those w�th an �nterest �n the government’s f�nances. Quest�ons concern�ng any of the �nformat�on prov�ded �n th�s report or requests for add�t�onal f�nanc�al �nformat�on should be addressed to the Department of F�nance and Budget, Calvert County Government, ��� Ma�n Street, Pr�nce Freder�ck, MD �0���.
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COUNTY COMMISSIONERS OF CALVERT COUNTYCALVERT COUNTY, MARYLAND
BASIC FINANCIAL STATEMENTS
JUNE �0, �0��
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COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
STATEMENT OF NET POSITIONJUNE 30, 2012
Primary Government Component UnitsBusiness- Economic
Governmental Type Board of DevelopmentActivities Activities Total Education Authority
ASSETSCash, cash equ�valents and �nvestments ���,���,���$ ���,0��$ ��0,���,���$ ��,���,���$ �,���,���$ Rece�vables
Taxes �,���,��� - �,���,��� - - Spec�al assessments �,0��,��� - �,0��,��� - - Accounts �0,�0�,��� �,���,0�� ��,���,��0 - - Notes �,���,��� �0�,��� �,��0,��� - ��,��� Accrued �nterest ��,��0 �,��� ��,0�� - �,��� Other - - - �0,��� -
Due from pr�mary government - - - ��,0��,0�� ���,��� Internal balances �,��0,��� (�,��0,���) - - - Due from other governments - - - �,���,��� - Deferred expenses - �0�,�0� �0�,�0� - - Prepa�d costs - ��� ��� ��,��� - Inventory �0�,��� ���,��� ���,��� ��,��� - Net pens�on asset ���,��� - ���,��� - - Restr�cted assets
Cash ��,���,��� �,��0,�0� ��,���,��� - - Cap�tal assets not be�ng deprec�ated ��,���,��� �,���,0�� ��,���,��� �,���,��� ��,��� Deprec�able cap�tal assets - net ���,���,��0 ��,���,��0 ���,���,��0 ���,���,0�� - Total assets ���,���,�0� ��,���,��0 ���,���,0�� ���,�0�,��� �,���,���
LIABILITIESAccounts payable �,���,��� �,���,��� �,���,��0 �,���,��� - Notes payable �0�,�00 - �0�,�00 - - Accrued l�ab�l�t�es �0,�0�,��� ���,��0 �0,���,��� ��,���,��� - Due to other governments �,�0�,��� - �,�0�,��� �,���,0�� - Due to component un�ts ��,���,��� - ��,���,��� - - Compensated absences, current port�on �,���,0�� �0�,000 �,���,0�� - - Long-term debt, current port�on ��,��0,��� �,���,��� ��,���,��� ��,��� - Est�mated postclosure costs, current port�on �0,000 - �0,000 - Unearned revenue �,���,�0� �,��� �,���,��� �,���,��� - Noncurrent l�ab�l�t�es:
Net pens�on obl�gat�on �,���,��� - �,���,��� ��,0��,�0� - Compensated absences, net of current port�on �,���,��� ���,��0 �,���,��� - - Long-term debt, net of current port�on ���,���,��� ��,�0�,0�0 ��0,���,��� �,���,��� - Bond prem�um/deferred loss of refund�ng ���,��� ���,0�� ���,��� - - Est�mated postclosure costs, net of current port�on ��0,000 �,���,��� �,���,��� - -
Total l�ab�l�t�es ���,���,��� ��,���,��� ���,���,0�� ��,���,��� -
NET POSITIONInvested �n cap�tal assets, net of related debt ���,���,�0� ��,���,��� ���,���,��� ���,���,��� ��,��� Restr�cted for
Cap�tal projects �,0��,��� - �,0��,��� - - Grants ���,��� - ���,��� ��0,��� - Land Preservat�on �,��0,��� - �,��0,��� - - Parks and Recreat�on �,�00,��� - �,�00,��� - - Restr�cted cap�tal connect�ons - �,���,�0� �,���,�0� - - Plann�ng and Zon�ng ��,��� - ��,��� - - Bar l�brary ��,��� - ��,��� - - Revolv�ng loan ��,�00 - ��,�00 - - Econom�c Development Author�ty revolv�ng loan ���,��� - ���,��� - - Econom�c Development �ncent�ve �0�,��� - �0�,��� - - Board of L�brary Trustees ��,��� - ��,��� - - G�fts and bequests - �,���,��� �,���,��� - -
Unrestr�cted ��,���,�0� �,���,��� ��,��0,��� (�0,���,���) �,���,���
Total net pos�t�on ��0,���,���$ ��,���,���$ �0�,�0�,0��$ �0�,���,���$ �,���,���$
The accompany�ng notes to the f�nanc�al statements are an �ntegral part of th�s statement.
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Program Revenues
Operating CapitalCharges for Grants and Grants and
Functions/Programs Expenses Services Contributions Contributions
Primary Government:Governmental act�v�t�es:
General government �0,���,���$ �,���,���$ �,���,���$ ��,���$Publ�c safety ��,�0�,��� �,���,��� �,���,��� ���,�0�Publ�c works ��,���,0�� ��0,��� ���,0�� ��0,���Health and hosp�tal �,�0�,��0 ���,0�� ���,��� -Soc�al serv�ces �0,���,��� ��,0�� �,�0�,��� -Educat�on �,�0�,��� - ���,��0 -Board of Educat�on ���,���,0�� - �,���,��� -Recreat�on and culture ��,���,��� �,0��,0�� ���,��� ���,���Conservat�on and natural resources �,���,��� �0�,��� ��0,��� �,��0Urban development and hous�ng �,��0,��� �,���,��� �0�,�0� -Econom�c development �,���,��� ���,��0 ��,��� -Interest on long-term debt �,��0,�0� �,��� - -
Total governmental act�v�t�es ���,���,�0� ��,�0�,��� ��,���,��� ���,���
Bus�ness-Type act�v�t�es:Water and sewer �,�0�,��� �,���,��� ��,��� -Sol�d waste �0,���,��� �0,���,�00 ���,��� -Recreat�on and culture �,���,��� ���,��� ���,��� ��,���
Total bus�ness-type act�v�t�es ��,0�0,0�� ��,���,��� ���,��� ��,���
Total pr�mary government ���,0��,���$ ��,���,���$ ��,���,���$ �,00�,���$
Component Units:School d�str�ct ���,���,�0� �,���,��� ��,0��,0�� ��,���,���Econom�c development �,��� �,��� - -
Total component un�ts ���,��0,0��$ �,���,���$ ��,0��,0��$ ��,���,���$
General Revenues:Property taxesIncome taxesRecordat�on taxesAdm�ss�on and amusement taxesFranch�se taxesOther m�scellaneous taxesInterest and d�v�dendsLoss on asset d�sposalUnrestr�cted �nvestment earn�ngsUnrestr�cted local appropr�at�ons, state and federal a�dUnrestr�cted state re�mbursement of electr�c�ty deregulat�on
Transfers Total general revenues and transfers Change �n net pos�t�on
Net pos�t�on - beg�nn�ng
Net pos�t�on - end�ng
The accompany�ng notes to the f�nanc�al statements are an �ntegral part of th�s statement.
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
STATEMENT OF ACTIVITIESFOR THE YEAR ENDED JUNE 30, 2012
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Net (Expense) Revenue and Changes in Net PositionPrimary Government Component Units
EconomicGovernmental Business-type Board of Development
Activities Activities Total Education Authority
(��,���,���)$ -$ (��,���,���)$ -$ -$(��,0��,���) - (��,0��,���) - -(��,0��,���) - (��,0��,���) - -
(�,��0,���) - (�,��0,���) - -(�,���,���) - (�,���,���) - -(�,���,���) - (�,���,���) - -
(���,���,0��) - (���,���,0��) - -(�0,���,���) - (�0,���,���) - -
(�,���,�0�) - (�,���,�0�) - -(���,���) - (���,���) - -(���,���) - (���,���) - -
(�,���,���) - (�,���,���) - -
(���,�0�,��0) - (���,�0�,��0) - -
- �0,��� �0,��� - -- (��,�0�) (��,�0�) - -- (�,���,���) (�,���,���) - -
- (�,���,���) (�,���,���) - -
(���,�0�,��0)$ (�,���,���)$ (���,���,���)$ -$ -$
- - - (���,���,���) -- - - - �,�0�
-$ -$ -$ (���,���,���)$ �,�0�$
��0,000,��� - ��0,000,��� - -��,���,��� - ��,���,��� - -
�,��0,��� - �,��0,��� - -�0,��� - �0,��� - -
�,���,0�0 - �,���,0�0 - -���,��� - ���,��� - -
�,���,��� ��,��� �,�0�,0�� �,0�� �,���- - - - -- - - - -- - - ���,���,��� -- - - - -
(�,���,���) �,���,��� - - -���,��0,��� �,0��,0�� ���,���,��� ���,���,��� �,���
���,��� (���,���) (�0�,�0�) (�0�,���) �0,���
��0,���,��� ��,���,��� �0�,00�,��� �0�,���,��0 �,���,���
��0,���,���$ ��,���,���$ �0�,�0�,0��$ �0�,���,���$ �,���,���$
The accompany�ng notes to the f�nanc�al statements are an �ntegral part of th�s statement.
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
STATEMENT OF ACTIVITIESFOR THE YEAR ENDED JUNE 30, 2012
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COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
BALANCE SHEETGOVERNMENTAL FUNDS
JUNE 30, 2012 Nonmajor Total
Capital Governmental GovernmentalGeneral Fund Projects Funds Funds
Cash, cash equ�valents and �nvestments �0�,���,0��$ -$ �0,���,���$ ���,���,���$ Rece�vables:
Taxes �,���,0�� - ���,��� �,���,��� Spec�al assessments �,0��,��� - - �,0��,��� Accounts ��,���,��� - �,���,��� �0,�0�,��� Notes �,���,��� - - �,���,��� Accrued �nterest ��,0�� ��� - ��,��0
Due from other funds �,���,��� ��,���,��� �,���,��� ��,00�,��� Due from other governments - - - - Inventory ���,��� - ��,��� �0�,��� Restr�cted assets
Cash and �nvestments - ��,���,��� - ��,���,���
Total assets ��0,���,��0$ ��,���,���$ ��,���,���$ ���,���,���$
L�ab�l�t�es:Accounts payable �,��0,��� �,0��,��� �,���,��� �,���,��� Notes payable - - �0�,�00 �0�,�00 Accrued l�ab�l�t�es �,���,��� ���,��� - �,���,0�� Due to other funds ��,�0�,��� - �,���,��0 ��,0��,��� Due to component un�ts ��,���,��� �,���,00� ��,��� ��,���,��� Due to other governments �,�0�,��� - - �,�0�,��� Deferred revenue ��,���,��� - �,���,��� ��,0�0,��� Total l�ab�l�t�es ��,���,��� �,���,��� �,��0,��0 ��,���,0��
Fund Balances: Nonspendable �,���,��� - �,��0,0�� ��,���,��� Restr�cted - - �,���,��� �,���,��� Comm�tted ��,��0,��� �,���,00� �,0��,0�� ��,0��,��� Ass�gned �,���,��� ��,���,��� ��,��� ��,�0�,��� Unass�gned ��,���,��� - - ��,���,���
Total fund balances ��,���,��� ��,0��,��0 ��,��0,��� ���,���,���
Total l�ab�l�t�es and fund balances ��0,���,��0$ ��,���,���$ ��,���,���$ ���,���,���$
Fund balance (as reported above) ���,���,��� Amounts reported for governmental act�v�t�es �n the statement of net pos�t�on are d�fferent because: Cap�tal assets used �n governmental act�v�t�es are not f�nanc�al resources and, therefore, are not reported �n the funds. ���,�0�,��� Other long-term assets are not ava�lable to pay for current-per�od expend�tures and, therefore, are deferred �n the funds. ��,000,0�� Long term l�ab�l�t�es are not due and payable �n the current per�od, and, therefore, are not reported �n the funds. (���,���,���) Net pens�on obl�gat�ons are not due and payable �n the current per�od,
and, therefore, are not reported �n the funds. (�,���,���) Accrued �nterest on long-term l�ab�l�t�es, �nclud�ng bonds payable are not reported �n the funds. (�,���,���)
Net pos�t�on of governmental act�v�t�es ��0,���,���$
The accompany�ng notes to the f�nanc�al statements are an �ntegral part of th�s statement.
ASSETS
LIABILITIES AND FUND BALANCE
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COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCEGOVERNMENTAL FUNDS
FOR THE YEAR ENDED JUNE 30, 2012
Nonmajor TotalGovernmental Governmental
General Fund Capital Projects Funds FundsREVENUES
Taxes ���,���,���$ -$ �,�0�,�0�$ ��0,���,���$L�censes and perm�ts �0�,��� - - �0�,���Intergovernmental �,��0,��� �0�,��� �,���,��� �0,���,���Charges for serv�ces �,�0�,��� - - �,�0�,���F�nes and forfe�tures ��0,��� - ���,0�� ���,�0�M�scellaneous �0,���,��� �0,��� �,�0�,��� ��,���,���
Total revenues ���,���,��� ���,��� ��,���,��� ��0,���,���
EXPENDITURESGeneral government ��,���,��� - - ��,���,���Publ�c safety ��,���,��� - - ��,���,���Publ�c works �,���,��� - - �,���,���Health and hosp�tals �,���,��0 - - �,���,��0Soc�al serv�ces �,���,�0� - �,�0�,0�� �,���,���Educat�on - other �,�0�,��� - ��,��� �,��0,���Board of Educat�on �0�,0��,��� - - �0�,0��,���Recreat�on and culture �,���,��� - �,���,��0 ��,�0�,���Conservat�on of natural resources �0�,��� - �,���,��� �,���,�0�Urban development and hous�ng �,���,��� - ���,��� �,00�,���Econom�c development �,���,��� - - �,���,���Pens�ons and �nsurance ��,���,��� - - ��,���,���Cap�tal projects - ��,��0,��� - ��,��0,���Debt serv�ce
Pr�nc�pal ret�rement �0,���,��� - - �0,���,���Interest �,�0�,��� - - �,�0�,���
Total expend�tures ���,���,��� ��,��0,��� ��,00�,��� ���,���,���
Excess (def�c�ency) of revenues over expend�tures ��,���,�0� (�0,���,���) (�,���,���) (��,���,���)
OTHER FINANCING SOURCES (USES)Bond �ssuance - �,���,��0 - �,���,��0Prem�um on bonds �ssued - ���,��� - ���,���Refund�ng bonds �ssued - ��,���,000 - ��,���,000Prem�um on refund�ng bonds �ssued - �,���,��� - �,���,���Amount depos�ted �n refund�ng escrow - (��,�0�,���) - (��,�0�,���)Transfers �n - other - �,���,��� �,���,��� ��,���,���Transfers out - other (��,���,���) - (�,���,���) (��,���,��0)
Total other f�nanc�ng sources (uses) (��,���,���) ��,���,0�� �,�0�,��0 �,���,���
Net change �n fund balance (��,���) (�,���,�0�) ���,0�� (�,���,���)
Fund balance at beg�nn�ng of year ��,���,0�� ��,���,��� ��,���,��� ���,���,���
Fund balance at end of year ��,���,���$ ��,0��,��0$ ��,��0,���$ ���,���,���$
The accompany�ng notes to the f�nanc�al statements are an �ntegral part of th�s statement.
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Amounts reported for governmental act�v�t�es �n the statement of act�v�t�es are d�fferent because:
Net change �n fund balances - total governmental funds (�,���,���)$
Governmental funds report cap�tal outlays as expend�tures. However, �n the statement of act�v�t�es the cost of those assets �s allocated over the�r est�mated useful l�ves and reported as deprec�at�on expense. Th�s �s the amount by wh�ch cap�tal outlays exceeded deprec�at�on �n the current per�od.
Cap�tal outlays ��,00�,0�� Deprec�at�on (��,���,���)
��,���,���
The net effect of var�ous transact�ons �nvolv�ng cap�tal assets �nclud�ng, cap�tal�zed (��,��0,���) assets reclassed from construct�on �n progress, sales, trade-�ns, and donat�ons.
Revenues �n the statement of act�v�t�es that do not prov�de current f�nanc�al (���,���) resources are not reported as revenues �n the funds.
The �ssuance of long-term debt (�.e. bonds, leases, �nstallment purchase agreements) proceeds prov�de current f�nanc�al resources to government funds, wh�le the repayment of the pr�nc�pal of the long-term debt consumes the current f�nanc�al resources of government funds.
Compensated absences ���,�0� Change �n landf�ll postclosure l�ab�l�t�es �0,000 Net pens�on obl�gat�on (���,���) Issuance - General Obl�gat�on Bonds (�,���,��0) Prem�um on �ssuance of debt (���,���) Pr�nc�pal payments �0,���,���
Changes �n long-term debt �,���,���
Some expenses reported �n the statement of act�v�t�es do not requ�re the use of current f�nanc�al resources and therefore are not reported as expend�tures �n governmental funds.
Change �n accrued �nterest ���,���
Change �n net pos�t�on of governmental act�v�t�es ���,���$
The accompany�ng notes to the f�nanc�al statements are an �ntegral part of th�s statement.
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
FOR THE YEAR ENDED JUNE 30, 2012GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
AND CHANGES IN FUND BALANCE OF THERECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES
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COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
STATEMENT OF NET POSITIONPROPRIETARY FUNDS
JUNE 30, 2012
Water Solid Waste Total Nonmajorand Sewer and Recycling Proprietary
Fund Fund Funds TotalASSETSCurrent assets:Cash and cash equ�valents ���,�0�$ �,000$ ���,���$ ���,���$ Investments - - ��,��� ��,���
Total cash, cash equ�valents and �nvestments ���,�0� �,000 ���,��� ���,0��
Accounts rece�vable �,���,��� ���,��� - �,���,0�� Notes rece�vable �0�,��� - - �0�,��� Accrued �nterest rece�vable ��� �,��� � �,��� Due from other funds - �,���,0�� - �,���,0�� Deferred expenses ��,��0 �,0�� ��,��� �0�,�0� Prepa�d expenses - - ��� ��� Inventory ��,��� - ��,��� ���,���
Total current assets �,�0�,��� �,���,�0� ���,0�� �,���,���
Non-current assets:Restr�cted assets
Cash and �nvestments �,0��,��� ��0,��� �,���,��� �,��0,�0�
Cap�tal assets not be�ng deprec�ated �,���,��� �,0��,��� �,���,�0� �,���,0�� Deprec�able cap�tal assets - net ��,���,��� �,0�0,��� �,0��,��� ��,���,��0 Total non-current assets ��,���,��� �,0��,�0� �,���,��� ��,���,���
Total assets ��,���,��� ��,�0�,0�� �,���,��� ��,���,���
LIABILITIESCurrent l�ab�l�t�es:Vouchers and accounts payable �0�,��� �,���,��� �0,��� �,���,��� Accrued expenses ���,��� ��,��� ��,��� ���,��0 Due to other funds �,���,��� - ��,��� �,���,��� Unearned revenue - - �,��� �,��� Compensated absences, current port�on �0,000 �0,000 �,000 �0�,000 Long-term debt, current port�on �,���,��� �0�,��� ��,0�� �,���,��� Total current l�ab�l�t�es �0,���,0�� �,�0�,��� ���,��0 ��,���,�0�
Noncurrent l�ab�l�t�es:Compensated absences, net of current port�on ��0,��� ��0,��� ��,0�� ���,��0 Est�mated post closure costs - �,���,��� - �,���,��� Bond prem�um/deferred loss on refund�ng �00,��� ��,��� ���,��� ���,0�� Long-term debt, net of current port�on ��,�0�,��0 �,���,��� ���,��� ��,�0�,0�0
Total l�ab�l�t�es ��,���,��� �,�0�,��� ���,��0 ��,���,���
NET POSITIONInvested �n cap�tal assets, net of related debt ��,�0�,��� �,���,��� �,���,00� ��,���,��� Restr�cted cap�tal connect�on �,���,�0� - - �,���,�0� Restr�cted g�fts and bequests - - �,���,��� �,���,��� Unrestr�cted (�,���,���) �,���,��� ��,��� �,���,���
Total net pos�t�on ��,���,���$ �,�0�,�0�$ �,���,���$ ��,���,���$
The accompany�ng notes to the f�nanc�al statements are an �ntegral part of th�s statement.
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COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
STATEMENT OF REVENUE, EXPENSES, AND CHANGES IN FUND NET POSITIONPROPRIETARY FUNDS
YEAR ENDED JUNE 30, 2012
Water Solid Waste Total Nonmajorand Sewer and Recycling Proprietary
Fund Fund Funds TotalOperat�ng revenues:
Charges for serv�ces �,���,���$ �0,���,���$ ���,0��$ ��,���,���$
Operat�ng expenses:Salar�es & benef�ts �,�00,��� �,���,�0� �,�0�,��� �,���,��� Contracted serv�ces ���,��� �,���,��� ���,�0� �,���,��� Suppl�es ���,��� ��,��� ���,��� ���,��0 Heat, l�ght and power ���,0�� ��,��� ���,��� ���,��� Deprec�at�on �,0��,��� �0�,��� ���,��� �,���,��� M�scellaneous ��,��� ��,��� ���,�0� ���,��� Telephone ��,0�� �,��0 ��,��� ��,00� Compensated absences ��,��� ��,��� ��,��� �0�,��� Ma�ntenance and repa�rs ���,��� ���,��� ���,��� �,���,��� Cap�tal outlay �,��� ���,��� ��,��� ���,��� Grant & restr�cted expenses - - �0,��� �0,���
Total operat�ng expenses �,���,�0� �0,���,�0� �,���,��� ��,���,���
Operat�ng �ncome (loss) (�0�,���) (��0,���) (�,���,���) (�,���,0��)
Non-operat�ng revenue (expenses):
Grants - - ��,��� ��,��� Contr�but�ons and fund-ra�s�ng - - ���,��� ���,��� Deferred amount on refund�ng (��,���) (���) - (��,���) M�scellaneous �ncome ��,��� ��,0�� ���,��� ���,��� FEMA grant re�mbursement ��,��� ���,��� - ���,��� Tower revenue ���,0�� ��,��� - ���,��� Investment �ncome ��,��� ��,��� �,��� ��,��� Developer contr�but�on ���,��� - - ���,��� Interest expense (���,�0�) (��,0��) - (���,���)
Total non-operat�ng revenue (expenses) ���,��� ���,��� ���,��� �,0�0,0�0
Income (loss) before contr�but�ons and transfers (���,���) (��,���) (�,��0,���) (�,���,0��)
Operat�ng transfers �n (out) ��,��� ���,��� �,���,��� �,���,��� Cap�tal transfers �n (out) - - - - Cap�tal connect�on charges ���,��� - - ���,��� Cap�tal contr�but�ons - - ��,��� ��,���
Change �n net pos�t�on ���,�0� �00,��� (���,���) (���,���)
Total net pos�t�on - beg�nn�ng ��,���,��� �,�0�,��� �,���,��� ��,���,���
Total net pos�t�on - end�ng ��,���,���$ �,�0�,�0�$ �,���,���$ ��,���,���$
The accompany�ng notes to the f�nanc�al statements are an �ntegral part of th�s statement.
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COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
STATEMENT OF CASH FLOWS PROPRIETARY FUNDS
FOR THE YEAR ENDED JUNE 30, 2012
SolidWater Waste and Nonmajor
and Sewer Recycling ProprietaryFund Fund Funds Total
CASH FLOWS FROM OPERATING ACTIVITIESRece�pts from customers �,���,���$ �0,0��,��0$ ���,���$ ��,���,���$ Tower revenue ���,0�� ��,��� - ���,��� Payments to suppl�ers (�,���,���) (�,0��,���) (�,���,���) (�0,���,���) Payments to employees (�,��0,��0) (�,���,���) (�,���,���) (�,�0�,���) Payments to other funds - (���,���) - (���,���) Rece�pts from other funds (�00,���) - ���,��� ��,���
Net cash prov�ded by (used �n) operat�ng act�v�t�es �,���,��� �00,��� (�,���,���) (�,���,���)
CASH FLOWS FROM NON-CAPITAL FINANCING ACTIVITIESOperat�ng transfers (to)/ from other funds ��,��� ���,��� �,���,��� �,���,��� Contr�but�on and fundra�s�ng rece�pts, m�scellaneous ���,��� ���,��� ���,��� �,0��,���
Net cash prov�ded by (used �n) non-cap�tal f�nanc�ng act�v�t�es ���,��� ���,��0 �,���,��� �,���,���
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTVITIESAdd�t�ons to cap�tal assets and construct�on-�n-progress (�,�0�,���) (���,000) (���,���) (�,���,���) Proceeds from �ssuance of long term debt �,���,��� - ���,�0� �,���,��� Grant funds rece�ved - - ��,0�0 ��,0�0 Cap�tal connect�on fees rece�ved ���,��� - - ���,��� Cap�tal contr�but�ons - - ��,��� ��,��� Developer contr�but�on ���,��� - - ���,��� Pr�nc�pal pa�d on long-term obl�gat�ons (�,0��,��0) (�0�,���) - (�,���,���) Interest pa�d on long-term obl�gat�ons (���,��0) (��,0��) (�,���) (���,��0)
Net cash prov�ded by (used �n) cap�tal and related f�nanc�ng act�v�t�es ��,��� (���,���) ��,��� (���,���)
CASH FLOWS FROM INVESTING ACTIVITIESInterest rece�ved on depos�ts �0,��� ��,��� �0,��� ��,��0 Purchase of �nvestments (�,���,���) �,��� (���,���) (�,���,���)
Net cash prov�ded by (used �n) �nvest�ng act�v�t�es (�,���,���) ��,��� (���,���) (�,���,���)
Increase (decrease) �n cash and cash equ�valents (���,���) - (��,���) (���,���) Cash and cash equ�valents, beg�nn�ng of year ���,��� �,000 ��0,�0� �0�,0��
Cash and cash equ�valents, end of year ���,�0�$ �,000$ ���,���$ ���,���$
PROVIDED BY (USED IN) OPERATING ACTIVITIESOperat�ng �ncome (loss) (�0�,���)$ (��0,���)$ (�,���,���)$ (�,���,0��)$ Adjustments to reconc�le operat�ng �ncome (loss) to
Net cash prov�ded by (used �n) operat�ng act�v�t�esDeprec�at�on �,0��,��� �0�,��� ���,��� �,���,��� Ga�n(Loss) on sale of asset �,0�0 - - �,0�0 Landf�ll closure costs and other - ��,000 - ��,000 Tower revenue ���,0�� ��,��� - ���,���
Changes �n assets and l�ab�l�t�esInventory (�,���) - �,��� (�,���) Accounts rece�vable (��,���) (�00,���) - (���,���) Prepa�d expenses - - �,��� �,��� Deferred expend�tures - - (�,�0�) (�,�0�) Due from other funds - (���,���) ���,��� (��,���) Accounts payable ���,��� �0�,��� (�0,�0�) ��0,��0 Accrued expenses (�,���) (��,���) ��,��0 �0,��� Due to other funds (�00,���) - - (�00,���)
Net cash prov�ded by (used �n) operat�ng act�v�t�es �,���,���$ �00,���$ (�,���,���)$ (�,���,���)$
Reconciliation of cash and cash equivalents to the balance sheet:Cash and �nvestments, unrestr�cted ���,�0�$ �,000$ ���,���$ ���,0��$ Cash and �nvestments, restr�cted �,0��,��� ��0,��� �,���,��� �,��0,�0�
�,���,��� ���,��� �,���,��� �,���,��0 Less - noncash equ�valent �nvestments �,0��,��� ��0,��� �,��0,��0 �,���,���
Cash and cash equ�valents ���,�0�$ �,000$ ���,���$ ���,���$
The accompany�ng notes to the f�nanc�al statements are an �ntegral part of th�s statement.
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PENSION &OTHER POST
EMPLOYMENTBENEFITS AGENCY
TRUST FUNDS FUNDASSETS
Cash and short-term �nvestments �,���,���$ ��,���$
Investments at fa�r valueF�xed �ncome fund ��,���,��� - Common stock ��,���,0�� - Equ�ty fund ��,���,0�0 - Other assets �,��0,��� - Total �nvestments ��0,�0�,��0 -
Accounts rece�vable - �,��� Interest rece�vable ��,��0 -
Total assets ���,��0,���$ �00,���$
LIABILITIESAccounts Payable -$ �00,���$
NET POSITION
���,��0,���$
The accompany�ng notes to the f�nanc�al statements are an �ntegral part of th�s statement.
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
STATEMENT OF FIDUCIARY NET POSITIONJUNE 30, 2012
Net pos�t�on held �n trust for pens�on benef�ts and other purposes
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COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
STATEMENT OF CHANGES IN FIDUCIARY NET POSITIONFOR THE YEAR ENDED JUNE 30, 2012
PENSION &OTHER POST
EMPLOYMENTBENEFITS
TRUST FUNDSADDITIONS
Contr�but�ons:Plan sponsor ��,���,���$ Employee �,0��,���
Total contr�but�ons ��,���,���
Investment �ncome/(loss): Net apprec�at�on/(deprec�at�on) �n fa�r value of �nvestments (�,0��,���) Interest and d�v�dends �,�0�,��0
Total �nvestment �ncome/(loss) �,���,���
Total add�t�ons ��,���,�0�
DEDUCTIONSBenef�ts �,0��,0�� Adm�n�strat�ve expenses �0�,��0
Total deduct�ons �,���,���
Change �n net pos�t�on ��,���,���
Net pos�t�on - beg�nn�ng ���,���,0��
Net pos�t�on - end�ng ���,��0,���$
The accompany�ng notes to the f�nanc�al statements are an �ntegral part of th�s statement.
“THIS PAGE LEFT INTENTIONALLY BLANK”
CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Page #Note � Summary of S�gn�f�cant Account�ng Pol�c�es
A. Report�ng Ent�ty ��B. Government-w�de and Fund F�nanc�al Statements ��C. Measurement Focus, Bas�s of Account�ng, and
F�nanc�al Statement Presentat�on ��D. Assets, L�ab�l�t�es, and Net Pos�t�on ��
Note � Property Taxes ��
Note � Cash, Cash Equ�velants and Investments ��
Note � Notes Rece�vable ��
Note � Interfund Accounts and Transfers ��
Note � Cap�tal Assets ��
Note � Long-Term Obl�gat�ons ��
Note � Fund Balances �0
Note � Ret�rement Systems ��Calvert County's Employees Ret�rement Plan ��State Ret�rement Systems of Maryland ��Calvert County's Employee Ret�rement Sav�ngs Plan ��Length of Serv�ce Award Program ��Calvert County Sher�ff's Department Pens�on Plan ��Calvert County Maryland Other Post-Employment Benef�t Trust ��Comb�n�ng Statement of Plan Net Pos�t�on (all trust funds) ��Comb�n�ng Statement of Changes �n Plan Net Pos�t�on (all trust funds) ��
Note �0 Comm�tment and Cont�ngent L�ab�l�t�es ��
Note �� R�sk Management ��
Note �� Subsequent Events ��
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Note 1 - Summary of Significant Accounting Policies
Calvert County (the County), was establ�shed as one of the or�g�nal count�es of the Maryland colony �n ����. The County �s governed by a board of f�ve Comm�ss�oners. One Comm�ss�oner �s elected from each of the three d�str�cts and two are elected at large. All serve four-year terms. Th�s board assumes respons�b�l�t�es conferred upon them by the Maryland General Assembly and prov�des the follow�ng serv�ces: publ�c safety, publ�c �mprovements, health and soc�al serv�ces, san�tat�on, recreat�on and culture, educat�on, econom�c development and general adm�n�strat�ve serv�ces. The bas�c f�nanc�al statements of the County have been prepared �n conform�ty w�th account�ng pr�nc�ples generally accepted �n the Un�ted States of Amer�ca as appl�ed to government un�ts as prescr�bed by the Governmental Account�ng Standards Board (GASB).
A. Reporting Entity
The accompany�ng f�nanc�al statements �nclude var�ous agenc�es, department organ�zat�ons and off�ces wh�ch are legally part of Calvert County (the Pr�mary Government) and the County’s component un�ts. As def�ned by account�ng pr�nc�ples, a component un�t �s a legally separate organ�zat�on that �s f�nanc�ally accountable to the Pr�mary Government or where �ts relat�onsh�p w�th the County �s of such s�gn�f�cance that exclus�on would cause the County’s f�nanc�al statements to be m�slead�ng or �ncomplete. The two d�scretely presented component un�ts descr�bed below reported �n separate columns �n the government-w�de f�nanc�al statements to emphas�ze separat�on from the Pr�mary Government.
D�scretely Presented Component Un�ts
Board of Education of Calvert County Public Schools - The Board of Educat�on of Calvert County Publ�c Schools (the Board) �s respons�ble for elementary and secondary educat�on w�th�n the County. The Board �s f�scally dependent upon the County because the Comm�ss�oners are respons�ble for approv�ng the Board's annual appropr�at�ons �n the budget. In add�t�on, the Comm�ss�oners are respons�ble for levy�ng taxes and collect�ng and d�str�but�ng the funds to the Board and the County �ssues bonds to f�nance school system construct�on projects. Complete f�nanc�al statements of the Board may be obta�ned at the ent�ty's adm�n�strat�ve off�ces located at ��0� Dares Beach Road, Pr�nce Freder�ck, Maryland, �0���.
Economic Development Authority of Calvert County - The Econom�c Development Author�ty of Calvert County (the Author�ty) was establ�shed �n ����, for the purpose of acqu�r�ng, construct�ng, develop�ng, �mprov�ng, operat�ng, and manag�ng an �ndustr�al park w�th�n the County and to enlarge econom�c development opportun�t�es for the preservat�on and betterment of the economy of Calvert County. The members of the Board of the Author�ty are appo�nted by the Comm�ss�oners. The Author�ty prov�des serv�ces wh�ch exclus�vely benef�t the County and County employees perform all of the Author�ty’s serv�ces. The Econom�c Development Author�ty of Calvert County does not �ssue separate f�nanc�al statements, so the�r statements are �ncluded �n th�s document on pages ��-�0.
The Calvert County Hous�ng Author�ty, the Volunteer F�re and Rescue Squads, the Calvert County Fa�r, Inc., and the Calvert County So�l Conservat�on D�str�ct have been excluded
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
from the bas�c f�nanc�al statements on the bas�s that these ent�t�es are not controlled by or f�nanc�ally dependent upon the County.
B. Government-Wide and Fund Financial Statements
The government-w�de f�nanc�al statements (�.e., the statement of net pos�t�on and the statement of act�v�t�es) d�splay �nformat�on about the County as a whole. These statements �nclude the f�nanc�al act�v�t�es of the Pr�mary Government, except for f�duc�ary funds. The statements d�st�ngu�sh between those act�v�t�es of the County that are governmental, normally supported by taxes and �ntergovernmental revenues, and those that are cons�dered bus�ness-type act�v�t�es, wh�ch rely to a s�gn�f�cant extent on fees and charges for support. L�kew�se, the Pr�mary Government �s reported separately from the component un�ts.
The statement of act�v�t�es demonstrates the degree to wh�ch the d�rect expenses of a g�ven funct�on or segment �s offset by program revenues. D�rect expenses are those that are clearly �dent�f�able w�th a spec�f�c funct�on or segment. Program revenues �nclude �) charges to customers or appl�cants who purchase, use, or d�rectly benef�t from goods, serv�ces, or pr�v�leges prov�ded by a g�ven funct�on or segment and �) grants and contr�but�ons that are restr�cted to meet�ng the operat�onal or cap�tal requ�rements of a part�cular funct�on or segment. Taxes and other �tems not properly �ncluded among program revenues are reported �nstead as general revenues.
Separate f�nanc�al statements are prov�ded for governmental funds, propr�etary funds and f�duc�ary funds, even though the latter are excluded from the government-w�de f�nanc�al statements. Major �nd�v�dual governmental funds and major �nd�v�dual propr�etary funds are reported as separate columns �n the fund f�nanc�al statements.
C. Measurement Focus, Basis of Accounting and Financial Statement Presentation
The bas�c f�nanc�al statements are d�v�ded �nto three categor�es: government-w�de f�nanc�al statements, fund f�nanc�al statements, and budgetary statements. The measurement focus, bases of account�ng and presentat�on of these categor�es �s d�scussed below.
Measurement Focus and Bas�s of Account�ng
The Government-w�de f�nanc�al statements measure and report all assets (both f�nanc�al and cap�tal), l�ab�l�t�es, revenues, expenses, ga�ns and losses us�ng the economic resources measurement focus and the accrual basis of account�ng, as do the Propr�etary funds and Pens�on and Other Post Employment Benef�t Trust funds statements. Revenues are recorded when earned and expenses are recorded when a l�ab�l�ty �s �ncurred, regardless of the t�m�ng of related cash flows. Property taxes are recogn�zed as revenue as soon as all el�g�b�l�ty requ�rements �mposed by the prov�der have been met.
All governmental funds are accounted for us�ng a current financial resources measurement focus and are reported us�ng the modified accrual bas�s of account�ng. Revenues are recogn�zed �n the account�ng per�od �n wh�ch the revenues are measurable and ava�lable. “Measurable” means the amount of the transact�on can be determ�ned and “ava�lable” means
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
collect�ble w�th�n the current per�od, or soon enough thereafter, to be used to pay l�ab�l�t�es of the current per�od. For the County’s purposes, the per�od of ava�lab�l�ty �s cons�dered to be �0 days after year end. Revenues cons�dered suscept�ble to accrual are grants, del�nquent property taxes, �ncome taxes and �nterest on �nvestments.
In governmental funds expend�tures are generally recorded when �ncurred; however, expend�tures for debt serv�ce, compensated absences, and cla�ms and judgments are recorded when payments are due. General County cap�tal asset acqu�s�t�ons are reported as expend�tures �n governmental funds. Proceeds of the County’s general long-term debt are reported as other f�nanc�ng sources.
The Agency Funds have no measurement focus s�nce these funds only report assets and l�ab�l�t�es. Agency Funds use the accrual basis of account�ng.
F�nanc�al Statement Presentat�on
Fund f�nanc�al statements report deta�led �nformat�on about the County. Governmental and Propr�etary fund f�nanc�al statement presentat�on focuses on major funds rather than report�ng funds by type. Each major fund �s presented �n a separate column. Nonmajor funds are aggregated and presented �n a s�ngle column. F�duc�ary funds are reported by fund type.
Governmental Fund Types
General Fund - The General Fund �s the general operat�ng fund of the Pr�mary Government. All f�nanc�al resources are accounted for �n th�s fund except those requ�red to be accounted for �n another fund. The General Fund �s a major fund.
Cap�tal Projects Fund - The Cap�tal Projects Fund �s used to account for f�nanc�al resources to be used for the acqu�s�t�on or construct�on of major cap�tal fac�l�t�es of the County.The Cap�tal Projects Fund �s a major fund.
Spec�al Revenue Funds - Spec�al revenue funds are used to account for the proceeds of spec�f�c revenue sources (other than major cap�tal projects or expendable trusts) that are legally restr�cted to expend�tures for spec�f�ed purposes. The spec�al revenue funds �nclude the Parks and Recreat�on Fund, Plann�ng and Zon�ng Spec�al Revenue Fund, Bar L�brary Fund, Revolv�ng Loan Fund, Econom�c Development Author�ty Revolv�ng Loan Fund, Calvert County Fam�ly Network, Grants Fund, Econom�c Development Incent�ve Fund, Exc�se Tax Fund, the Land Preservat�on Fund, and the Board of L�brary Trustees for Calvert County (the L�brary). None of these spec�al revenue funds are major funds.
Proprietary Fund Type
Enterpr�se Funds - Enterpr�se funds are used to report act�v�t�es for wh�ch a fee �s charged to external users for goods or serv�ces. Enterpr�se funds here�n �nclude the operat�ons of the Water and Sewer Fund, the Sol�d Waste and Recycl�ng Fund, the Chesapeake H�lls Golf Course, and the Calvert Mar�ne Museum. The Water and Sewer Fund and the Sol�d Waste and Recycl�ng
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Fund are major funds. The Chesapeake H�lls Golf Course and the Calvert Mar�ne Museum are nonmajor funds, wh�ch are comb�ned �n one column for report�ng.
Fiduciary Fund Types
Trust Funds - The County ma�nta�ns pens�on trust funds to account for the Calvert County Employees Ret�rement Plan, the Volunteer F�re Departments and Rescue Squads Pens�on Plan, the Calvert County Sher�ff’s Department Pens�on Plan, and the Calvert County Maryland Post-Employment Benef�ts Plan.
Agency Funds - The Tax Redempt�on Fund �s an agency fund used to account for tax payments made by del�nquent property owners to redeem tax cert�f�cates held by th�rd part�es. These funds are held by the County �n a trustee capac�ty.
Net Position
The government-w�de and bus�ness-type fund f�nanc�al statements ut�l�ze net pos�t�on presentat�on. Net pos�ton �s presented �n three components – �nvested �n cap�tal assets (net of related debt), restr�cted and unrestr�cted.
�. Invested �n Cap�tal Assets (net of related debt) – Th�s component of net pos�t�on cons�sts of cap�tal assets, net of accumulated deprec�at�on and reduced by outstand�ng bonds, notes or other borrow�ngs attr�butable to the acqu�s�t�on, construct�on, or �mprovement of these assets.
�. Restr�cted – Th�s component cons�sts of assets that have constra�nts placed on them e�ther externally by th�rd-part�es (cred�tors, grantors, contr�butors, or laws or regulat�ons of other governments) or by law through const�tut�onal prov�s�ons or enabl�ng leg�slat�on.
�. Unrestr�cted – Th�s component cons�sts of assets that do not meet the def�n�t�on of “�nvested �n cap�tal assets, net of related debt” and restr�cted.
S�gn�f�cant Account�ng Pol�c�es
The follow�ng �s a summary of the more s�gn�f�cant account�ng pol�c�es appl�ed to elements �n the County’s bas�c f�nanc�al statements:
Private Sector Guidance - Pr�vate-sector standards of account�ng and f�nanc�al report�ng �ssued pr�or to December �, ����, generally are followed �n both the government-w�de and propr�etary fund f�nanc�al statements to the extent that those standards do not confl�ct w�th or contrad�ct gu�dance of the Governmental Account�ng Standards Board. Governments also have the opt�on of follow�ng subsequent pr�vate-sector gu�dance for bus�ness-type act�v�t�es and enterpr�se funds, subject to th�s same l�m�tat�on. The County has elected not to follow subsequent pr�vate-sector gu�dance.
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Internal Activity - Calvert County has m�n�mal act�v�ty between governmental and bus�ness-type act�v�t�es. However, to avo�d double count�ng of �nternal act�v�t�es, the effect of �nternal transact�ons and balances has been el�m�nated from the f�nanc�al statements.
Program, General and Operating Revenues – Revenue �n the government-w�de f�nanc�al statements �s class�f�ed as program or general revenue. Amounts reported as program revenues �nclude �) charges to customers or appl�cants for goods, serv�ces, or pr�v�leges prov�ded, �) operat�ng grants and contr�but�ons, and �) cap�tal grants and contr�but�ons, �nclud�ng spec�al assessments. Internally ded�cated resources are reported as general revenues rather than as program revenues. In add�t�on, general revenues �nclude all taxes.
The operat�ng revenues of the enterpr�se funds are def�ned as the charges for serv�ces rece�ved from the customers that are of a recurr�ng nature. That �s, those charges do not �nclude one-t�me fees or grants, such as cap�tal connect�on charges or cap�tal grants. Revenue sources such as these are �ncluded under non-operat�ng revenues.
Fund Balance Assumptions – In order to calculate the amounts reported as restr�cted, comm�tted, ass�gned, and unass�gned fund balance �n the governmental fund f�nanc�al statements a flow assumpt�on must be made about the order �n wh�ch the resources are cons�dered to be appl�ed. When components of unrestr�cted resources are ava�lable for use and the purpose �s a qual�f�ed act�v�ty, comm�tted fund balance �s depleted f�rst, followed by ass�gned, and lastly unass�gned.
Budgets and Budgetary Accounting - The County follows certa�n procedures �n establ�sh�ng the budgetary data reflected �n the f�nanc�al statements. Each County department, agency or board rece�v�ng County funds subm�ts a budget request to the Comm�ss�oners at a publ�c hear�ng. Add�t�onal publ�c hear�ngs are conducted to obta�n taxpayer comments. On or before July � of each year, the budget �s legally enacted through passage of a resolut�on.
The D�rector of F�nance and Budget �s empowered to make adm�n�strat�ve transfers of appropr�at�ons w�th�n the current expense budget, w�th�n the same off�ce or department, between departments, agenc�es, boards or comm�ss�ons, �nter-project transfers of appropr�at�ons between cap�tal projects �n the cap�tal budget and the add�t�on of new budget �tems, �n the amount of not more than $�0,000. The County Adm�n�strator �s author�zed to transfer appropr�at�ons up to $��,000. Any change �nvolv�ng more than $��,000 but less than $�00,000 can be approved by the Board of County Comm�ss�oners w�thout passage of a resolut�on. Any change total�ng more than $�00,000 may only be made by resolut�on approved by the Comm�ss�oners after compl�ance w�th certa�n publ�c hear�ng requ�rements.
The budget for the General Fund and Cap�tal Projects are adopted annually. The bas�s �s cons�stent w�th GAAP except that for the General Fund, on a budgetary bas�s, encumbrances are treated as expend�tures rather than as a comm�tment of fund balance. Budgetary compar�sons presented for the General Fund �n the bas�c f�nanc�al statements are prepared on the budgetary bas�s. Budgetary control �s at the object level. The Cap�tal Projects budget �s prepared for the durat�on of the respect�ve project and annual budgetary compar�sons are not presented �n the bas�c f�nanc�al statements and supplemental �nformat�on.
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
D. Assets, Liabilities and Net Position
Cash, Cash Equivalents and Investments - For purposes of the statements of cash flows, cash equ�valents are cons�dered to be �nvestments that are a) short-term, h�ghly l�qu�d �nvestments wh�ch are read�ly convert�ble to known amounts of cash; and b) so near matur�ty that the �nvestment presents �ns�gn�f�cant r�sk of changes �n value because of changes �n �nterest rates.
Investments �n cert�f�cates of depos�t, U.S. government obl�gat�ons, repurchase agreements and other �nvestments are carr�ed at fa�r value, wh�ch �s determ�ned on June �0 of each f�scal year.
Investments �n the pens�on trust funds (Volunteer F�re and Rescue Squad Pens�on Fund and Calvert County Sher�ff’s Department Pens�on Plan, the Calvert County Employees Ret�rement Plan and the Calvert County Maryland Other Post-Employment Benef�ts Trust) are carr�ed at fa�r value determ�ned on June �0 of each year, based on appra�sals or quotat�ons by an �ndependent �nvestment counselor.
Use of Estimates - The preparat�on of f�nanc�al statements �n conform�ty w�th account�ng pr�nc�ples generally accepted �n the Un�ted States of Amer�ca requ�res management to make est�mates and assumpt�ons that affect the reported amounts of assets and l�ab�l�t�es, d�sclosure of cont�ngent assets and l�ab�l�t�es at the date of the f�nanc�al statements, and the reported amounts of revenue and expenses dur�ng the report�ng per�od. Actual results could d�ffer from those est�mates.
Long-Term Receivables - Long-term rece�vables relat�ng to governmental fund types are reported �n the respect�ve balance sheets �n sp�te of the spend�ng measurement focus. These rece�vables however, are offset by nonspendable fund balance account to �nd�cate they should not be cons�dered ava�lable spendable resources s�nce they do not represent net current assets.
Inventory - Inventory �s valued at the lower of cost (f�rst-�n, f�rst-out method) or market. The �nventor�es are recorded as expend�tures when consumed rather than when purchased. Governmental fund type �nventor�es are offset by a nonspendable fund balance account, wh�ch �nd�cates that �nventory does not const�tute "ava�lable spendable resources," even though �t �s a component of net current assets.
Capital Assets - All cap�tal assets are valued at h�stor�cal cost or est�mated h�stor�cal cost �f actual h�stor�cal cost �s not ava�lable. Contr�buted cap�tal assets are valued at est�mated fa�r market value on the date contr�buted. The County currently def�nes cap�tal assets as assets w�th an �n�t�al cost of $�,000 or more and an est�mated useful l�fe of more than one year. In pr�or years the cap�tal asset threshold was $�,000. Those pr�or year assets are st�ll recorded as cap�tal assets. Assets are deprec�ated us�ng the stra�ght-l�ne method over the est�mated useful l�fe of the asset. The table on the next page �s a general gu�del�ne for determ�n�ng the est�mated useful l�fe of assets:
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Bu�ld�ngs ��-�0 years Mach�nery and equ�pment �-�0 years Improvements ��-�0 years Veh�cles �-� years Water and Sewer Systems �0-�0 years Computers � years
The purpose of deprec�at�on �s to spread the cost of cap�tal assets equ�tably among all users over the l�fe of these assets. The amount charged to deprec�at�on expense each year represents that year’s pro rata share of the cost of cap�tal assets.
W�th the �mplementat�on of GASB Statement ��, the County has recorded �ts publ�c doma�n (�nfrastructure) cap�tal assets, wh�ch �nclude roads, br�dges, curbs and gutters, streets and s�dewalks, dra�nage systems and l�ght�ng systems.
Accumulated Annual, Personal and Sick Leave Benefits - County employees are granted annual leave at vary�ng rates based upon years of serv�ce. The carry�ng amount of accumulated annual leave may not exceed a max�mum of �00 days on a calendar year bas�s. In add�t�on, �� days of s�ck leave and � days of personal leave are granted annually. Upon term�nat�on or ret�rement, all annual and personal leave accrued to the cred�t of an employee �s pa�d. The amount of accrued s�ck leave payable �s based upon the employee’s full-t�me status. The s�ck leave can be pa�d to the employee or cred�ted to the�r ret�rement benef�t upon meet�ng ret�rement el�g�b�l�ty �n the appl�cable def�ned benef�t pens�on plan. For ��-hour per week employees, one-fourth of the accrued s�ck leave up to �00 hours plus one-half of the accrued s�ck leave over �00 hours w�ll be pa�d to the employees The �0-hour per week employees rece�ve one-fourth of the accrued s�ck leave up to �00 hours plus one-half of the accrued s�ck leave over �00 hours.
Deferred Compensation Plan - The County has establ�shed a deferred compensat�on plan �n accordance w�th Internal Revenue Code Sect�on ���, and adm�n�stered by Nat�onw�de Ret�rement Solut�ons. All County employees may part�c�pate �n the plan and defer a port�on of the�r salary, subject to l�m�tat�ons �mposed by the Internal Revenue Serv�ce. In September ����, the County amended the plan �n accordance w�th the prov�s�ons of IRC Sect�on ���(g). The assets of the plan were placed �n an �ndependent trust for the exclus�ve benef�t of part�c�pants and the�r benef�c�ar�es. The requ�rements of that IRC Sect�on prescr�bes that the County no longer owns the amounts deferred by employees, �nclud�ng the related �ncome on those amounts. Accord�ngly, the assets and the l�ab�l�ty for the compensat�on deferred by plan part�c�pants, �nclud�ng earn�ngs on plan assets, were removed from the County's f�nanc�al statements. The plan assets w�ll not be subject to the cla�ms of the publ�c ent�ty's cred�tors.
Other Post Employment Benefit Obligations – OPEB - In f�scal year �00� the County adopted, GASB Statement No. �� - Account�ng and F�nanc�al Report�ng by Employers for Post-employment Benef�ts Other Than Pens�ons, wh�ch requ�red that employers account for and report the annual cost of OPEB and the outstand�ng obl�gat�ons and comm�tments related to OPEB �n essent�ally the same manner as pens�ons. Annual OPEB cost �s based on actuar�ally determ�ned amounts that, �f pa�d on an ongo�ng bas�s, generally would prov�de suff�c�ent resources to pay benef�ts as those benef�ts are due.
Pension Accounting - Employee contr�but�ons are recogn�zed �n the Pens�on Trust Funds �n the per�od the contr�but�ons are due. Employer contr�but�ons are recogn�zed when due and the County has made a formal comm�tment to prov�de the contr�but�ons. Benef�ts and refunds are
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
recogn�zed when due and payable �n accordance w�th the terms of each plan. Adm�n�strat�ve costs are funded from �nvestment �ncome.
Any net pens�on obl�gat�on or asset �s calculated on an actuar�al bas�s cons�stent w�th the requ�rements of GASB Statement No. �� – Account�ng for Pens�ons by State and Local Governmental Employers. Expend�tures are recogn�zed when are pa�d or are expected to be pa�d w�th current ava�lable resources. The net pens�on obl�gat�on (asset) �s reported �n the government-w�de f�nanc�al statements.
Interfund Transfers - The transfers �n to the General Fund are for cap�tal projects that have been closed out, the transfer from exc�se tax fund to cover a port�on of debt serv�ce, and one-t�me fund balance transfers from spec�al revenue funds. The transfer out from the General Fund �s for operat�ng, d�sbursement of grant match�ng funds and pay-go mon�es.
Encumbrances - Encumbrance account�ng, under wh�ch purchase orders, contracts, and other comm�tments for the expend�ture of mon�es are recorded �n order to reserve that port�on of the appl�cable appropr�at�on, �s employed as an extens�on of formal budgetary �ntegrat�on �n the General Fund, Spec�al Revenue Funds, Cap�tal Projects Fund, and Enterpr�se Funds.Encumbrances outstand�ng at year end are reported as comm�tted fund balances and do not const�tute expend�tures or l�ab�l�t�es because the comm�tments w�ll be honored dur�ng a subsequent year.
Long –Term Obligations – In the government-w�de f�nanc�al statements and �n the propr�etary fund f�nanc�al statements, long-term debt and other obl�gat�ons are reported as l�ab�l�t�es. Bond prem�ums and d�scounts, as well as �ssuance costs, are deferred and amort�zed over the l�fe of the bonds us�ng the bonds outstand�ng method wh�ch approx�mates the effect�ve �nterest method.
Equity – Deta�led �nformat�on on the presentat�on of net pos�t�on for the government-w�de and bus�ness-type funds �s located page ��. Informat�on regard�ng the �mplementat�on of GASB No. �� as �t relates to the governmental fund balance presentat�on �s located on page ��.
Stabilization Arrangement – Dur�ng the f�scal year ended June �0, �0��, the County �mplemented GASB Statement No. �� – Fund Balance and Governmental Fund Type Def�n�t�ons wh�ch requ�red an establ�shment of pol�cy by formal act�on. Th�s formal act�on �mposes the parameters and �dent�f�es the spec�f�c c�rcumstances and need for stab�l�zat�on, and these c�rcumstances are non-rout�ne �n nature.
Establishment/Elimination of Funds – Dur�ng the f�scal year ended June �0, �0��, the County �mplemented GASB Statement No. �� – Fund Balance and Governmental Fund Type Def�n�t�ons wh�ch updated the def�n�t�ons and cr�ter�a for Spec�al Revenue Funds wh�ch caused the County to el�m�nate two spec�al revenue funds: Project Graduat�on and the Hous�ng Fund. These two funds are now presented as part of the General Fund.
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Note 2 - Property Taxes
Property taxes attach an enforceable l�en on property as of July �. Taxes are lev�ed each July � and the taxpayer has the opt�on to pay �n full w�thout �nterest by September �0 or to pay the b�ll sem�annually. In sem�-annual b�lls, the f�rst payment �s payable w�thout �nterest by September �0 and the second payment, �nclud�ng a serv�ce charge, �s payable w�thout �nterest by December ��. Interest �s charged for each month or fract�on thereof �n wh�ch taxes rema�n unpa�d beg�nn�ng October � on accounts under the annual payment opt�on, or January � for accounts under the sem�annual payment opt�on. Maryland law grants the Treasurer of Calvert County the power to advert�se and sell any real property �f the taxes rema�n del�nquent for a per�od of one year.
Property taxes are lev�ed at rates enacted by the Comm�ss�oners �n the annual budget based on the assessed value of the property as determ�ned by the Maryland State Department of Assessments and Taxat�on, an agency of the government of the State of Maryland. The rates of levy cannot exceed the constant y�eld tax rate furn�shed by the Maryland State Department of Assessments and Taxat�on w�thout publ�c not�ce and then only after publ�c hear�ngs.
The real property tax rate dur�ng the year ended June �0, �0��, was $.��� per $�00 of assessed value based on the full valuat�on method, except that w�th�n the two �ncorporated towns, North Beach and Chesapeake Beach, the rate was $.��� per $�00 of assessed value based on the full valuat�on method. The personal property tax rate dur�ng the year ended June �0, �0�� was $�.�� per $�00 of assessed value except that w�th�n the two �ncorporated towns, North Beach and Chesapeake Beach, the rate was $�.��. The County b�lls and collects all property taxes.
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Note 3 - Cash, Cash Equivalents and Investments
A. Primary Government
Cash on Hand
At June �0, �0��, cash on hand for petty cash and change was $�,���.
Pol�c�es and Prov�s�ons
General Deposits - The County has agreements w�th �ts depos�tory f�nanc�al �nst�tut�ons, wh�ch requ�re all depos�ts to be e�ther �nsured by the Federal Depos�t Insurance Corporat�on or collateral�zed. The County has an agreement w�th Bank of Amer�ca to collateral�ze ��0% of depos�ts. At June �0, �0�� the net carry�ng amount and the bank balances of the County's depos�ts w�th f�nanc�al �nst�tut�ons were $��,���,0�� and $��,0��,���, respect�vely, all of wh�ch was covered by federal depos�tory �nsurance or collateral held by a th�rd party custod�an �n a segregated account for the benef�t of Calvert County.
Fore�gn r�sk related to depos�ts �s managed by allow�ng no more than $�,000,000 or �0% of the total �nvestment portfol�o to be �nvested w�th f�nanc�al �nst�tut�ons res�d�ng �n a s�ngle fore�gn country. At June �0, �0��, no depos�ts were �n fore�gn currency.
General Investments - The County's pol�cy for �nvestments, as set by publ�c code, �s to �nvest �n secur�t�es that are �ssued by the Un�ted States Government or any agency thereof, cert�f�cates of depos�t, bankers' acceptances, any and all �nvestments generally recogn�zed as "money market �nstruments," secur�t�es �ssued by any state or mun�c�pal government, secur�t�es �ssued by the Federal Home Loan Mortgage Corporat�on (FHLMC), secur�t�es �ssued by the Government Nat�onal Mortgage Assoc�at�on (GNMA), repurchase agreements, and reverse repurchase agreements. The County's �ntent �s not to redeem any �nvestment unt�l the market value �s at least equal to the carry�ng value.
The County manages concentrat�on r�sk by us�ng l�m�ts, stated �n percentages and/or dollars, for �nvestment classes (noted above) that are not federally �nsured. The County’s pol�cy on cred�t r�sk �s to only allow for Bankers’ Acceptances of domest�c and fore�gn banks that ma�nta�n the h�ghest short-term depos�t rat�ng from Standard & Poor’s (A-�) and/or Moody’s (P-�). These rat�ngs are also requ�red for Repurchase Agreements. Repurchase Agreements are requ�red to be collateral�zed at �0�%.
In order to l�m�t exposure to �nterest rate r�sk, the County’s �nvestment pol�cy prov�des that �nvestment matur�t�es �n any perm�tted �nvestment shall not exceed �� months �n durat�on unless pr�or approval �s rece�ved from the D�rector of F�nance and Budget, or a des�gnee. Investment �n secur�t�es exceed�ng �� months �n durat�on shall not exceed �0% of the total �nvestment portfol�o at the t�me of purchase.
Fiduciary Fund Investments - The Calvert County Post Employment Benef�t Plan, the Volunteer F�re and Rescue Squad Pens�on Plan, the Calvert County Sher�ff’s Department Pens�on Plan and the Calvert County Employees Ret�rement Plan are author�zed to �nvest �n
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
common stocks, corporate bonds and any other secur�t�es �n vary�ng proport�ons when and for as long as, �n the op�n�on of the respect�ve Plan Trustees, preva�l�ng market and econom�c cons�derat�ons �nd�cate that �t �s �n the best �nterest of the respect�ve Plan to do so. Note � presents the deta�ls of the pens�on plans start�ng on page ��.
Land Preservation Fund – The Land Preservat�on Fund �s �nvested �n U.S Treasury Str�ps (U.S. Treasury Bonds w�th the coupon/�nterest payment removed). The earl�est matur�ty date of any of the bonds �n th�s fund �s August ��, �0��. The latest matur�ty date �s May ��, �0��. Th�s fund has no �nterest rate r�sk because each of the bonds was purchased to pay a spec�f�c obl�gat�on. The matur�ty date and amount of the bond co�nc�des w�th the due date of the obl�gat�on.
Interest Rate R�sk
The follow�ng schedule presents the �nterest rate r�sk (�ncreas�ng �nterest rates decrease the value of the bonds) based on matur�ty of the bonds held.
Maturities Maturities
Cash and Equ�valents $ ��,���,��� �-�0 years �,���,��� Less than � year ��,�0�,��� �0-�� years �,���,��� �-� years ��,���,�0� ��-�0 years -
Total $ ���,���,���
Fore�gn Currency R�sk
The follow�ng schedule shows the pens�on plans’ exposure to fore�gn currency r�sk. Th�s r�sk �s created by the ownersh�p of Amer�can Depos�tory Rece�pts (ADR). ADRs are stocks that trade �n the Un�ted States but represent a spec�f�ed number of shares �n a fore�gn corporat�on. ADRs are bought and sold on Amer�can markets just l�ke regular stocks, and are �ssued/sponsored �n the U.S. by a bank or brokerage. Because the value of an ADR �s der�ved from the value of the fore�gn share pr�ce, fluctuat�ons �n that currency exchange rate create changes �n value. Calvert County currently has no formal pol�cy relat�ng to fore�gn currency r�sk �n the pens�on plans.
Country Total Exposure Country Total Exposure
Un�ted K�ngdom �,���,�0�$ Mex�co ���,���Netherlands ���,��� Japan �,���,���Sw�tzerland ���,��� France �,���,���Spa�n ���,�0� Italy ���,���Germany �0�,��� Korea ���,���Braz�l ���,��0 Total �0,0��,���$
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Carry�ng Value
The carry�ng value of all the County’s cash and �nvestments as of June �0, �0�� are summar�zed �n the follow�ng table:
Cash, Cash Equivalent or Investment Type Fair Value
Cash, Cash Equivalent or Investment Type Fair Value
U.S. Agency Obl�gat�ons ��,0��,��0$ Other spec�al equ�ty �,��0,���$ U.S. Treasury Str�ps �0,���,��� Petty cash �,��� Common stock ��,���,�0� Total * ���,��0,���$ F�xed Assets ��,���,��� Equ�ty and bond funds ��,���,00� Unrestr�cted ���,��0,���$ Money market mutual funds ��,���,��� Restr�cted ��,��0,��� Cert�f�cates of depos�t ���,��0 * ���,��0,���$ Cash �n banks ��,���,0�� *Includes agency fund cash of $��,���
B. Component Units
Econom�c Development Author�ty
The Author�ty follows the �nvestment pol�c�es of the County. Its �nvestments at June �0, �0�� totaled $�,���,��� and cons�sted of money market mutual funds.
Board of Educat�on
Deposits - At June �0, �0��, the carry�ng amount and bank balances of the Board’s depos�ts w�th f�nanc�al �nst�tut�ons totaled $��,���,��� and $��,���,���, respect�vely. All bank depos�ts are covered by Federal Depos�t Insurance and/or collateral held �n the Board’s name at the Federal Reserve.
Investments - At June �0, �0�� the Board had �nvested $�,���,��� �n governmental act�v�t�es and $�,�00,��� �n bus�ness-type act�v�t�es �n the Maryland Local Government Investment Pool (MLGIP), wh�ch �s under the adm�n�strat�on of the State Treasurer. MLGIP �s rated AAAm by Standard and Poors, the agency’s h�ghest rat�ng for money market funds. Un�t value �s computed us�ng the amort�zed cost method. In add�t�on, the net asset value of the pool, market-to-market, �s calculated and ma�nta�ned on a weekly bas�s to ensure a $�.00 per un�t constant value.
Investment Rate Risk and Custodial Credit Risk - Fa�r Value fluctuates w�th �nterest rates. To l�m�t the Board’s exposure to fa�r value losses ar�s�ng from �ncreas�ng �nterest rates, the Board’s �nvestment pol�cy l�m�ts the term of �nvestment matur�t�es to overn�ght repurchase agreements and requ�res that collateral secur�t�es underly�ng the repurchase agreements have a market value of at least �0�% of the cost of the agreement. To reduce custod�al cred�t r�sk, the Board l�m�ts �ts �nvestments to overn�ght depos�ts that are �nsured or collateral�zed w�th secur�t�es held by a custod�an �n the Board’s name and �nvestments �n the MLGIP.
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Note 4 - Notes Receivable
A. Primary Government
General Fund
The Affordable Hous�ng Program – The County under th�s program has a �0 year loan set up to fund a part�c�pant �n the County’s Water and Sewer Ass�stance Program. Th�s note �n�t�ated �n FY�00�, w�ll mature �n FY�0�� and bears �nterest at �% per annum. Pr�nc�pal and �nterest payments are due monthly. At June �0, �0��, $�,��� �s outstand�ng.
Volunteer F�re Department and Rescue Squads - The County f�nances purchases of equ�pment by the volunteer f�re department and rescue squads. To ma�nta�n control over the equ�pment purchased, the County Comm�ss�oners create non-�nterest bear�ng notes rece�vable, secured by the equ�pment, w�th three to twenty-n�ne year terms. Deferred revenue �s also recorded for the total amount of the notes rece�vable. Repayment of the notes does not �nvolve cash transact�ons, but �s ach�eved by reduc�ng notes rece�vable and deferred revenue based upon the value of serv�ces rendered by the f�re and/or rescue compan�es over the l�ves of the notes. Notes rece�vable from f�re and/or rescue compan�es at June �0, �0��, was $�,���,���. See deta�led schedule at page ��.
Parks and Recreat�on Fund - The General Fund has a $���,000 note rece�vable from the Parks and Recreat�on Fund �n the form of an �nterest-free note s�gned �n �00�. Pr�nc�pal �s payable annually beg�nn�ng June �, �00� through matur�ty on June �, �0��. At June �0, �0��, $�0�,�00 �s outstand�ng.
Water and Sewer Fund
The Water and Sewer Fund’s Due to the General Fund balance �ncludes $�,���,��� that has been reclass�f�ed to an advance over the last three f�scal years. Th�s advance �s not expected to be repa�d w�th�n the next twelve months. Th�s amount �s planned fund�ng for the Water and Sewer Fund as rate adjustments cont�nue, as requ�red to balance the budget.
Funds prev�ously advanced by the General Fund to the Water and Sewer Fund for the Dares Beach Water Supply Project was converted to a note. The note calls for annual payments of $��,��� �nclud�ng �nterest at �.�%, commenc�ng June �0, ���0 through matur�ty �n �0��. At June �0, �0��, outstand�ng pr�nc�pal amounted to $�0�,��� and �s offset by a nonspendable fund balance to �nd�cate these funds are not ava�lable, spendable resources.
Funds prev�ously advanced by the General Fund to the Water and Sewer Fund for the Pr�nce Freder�ck Water and Sewer System was converted to an �nterest-free note �n ����.Pr�nc�pal �s payable annually beg�nn�ng January �, ���� through matur�ty on January �, �0��. At June �0, �0��, $���,��� �s outstand�ng, and �s offset by a nonspendable fund balance to �nd�cate these funds are not ava�lable, spendable resources.
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Funds prev�ously advanced by the General Fund to the Water and Sewer Fund for the Shores of Calvert Water and Sewer System were converted to a �0 year �nterest bear�ng note.The note calls for annual payments of $�,��� �nclud�ng �nterest at �.�%. Pr�nc�pal �s payable annually beg�nn�ng July �, �0�� through matur�ty on July �, �0��. At June �0, �0��, $���,��� �s outstand�ng, and �s offset by a nonspendable fund balance to �nd�cate these funds are not ava�lable, spendable resources.
The Water and Sewer Fund has a note rece�vable from the Calvert County Detent�on Center and three Publ�c Ut�l�ty Payment Plans w�th developers, of wh�ch the total amount outstand�ng at June �0, �0�� was $�0�,���.
Economic Development Authority Revolving Loan Fund
Dur�ng F�scal year �00� a f�ve-year, $�0,000 loan was made to Southern Maryland Bus�ness Center. The note bears �nterest at �.�% per annum. Pr�nc�pal �s payable monthly, beg�nn�ng July �00� through matur�ty �n June �0��. At June �0, �0��, $��,�0� �s outstand�ng.
Dur�ng F�scal year �0�0 a f�ve-year, $��,000 loan was made to L�ttle Proteges Inc. The note bears �nterest at �.�% per annum. Pr�nc�pal �s payable monthly, beg�nn�ng July �0�0 through matur�ty �n June �0��. At June �0, �0��, $��,�0� �s outstand�ng.
Economic Development Incentive Fund
Dur�ng F�scal year �00� a f�ve-year, $�00,000 loan was made to Kelly Generator Inc. The note bears �nterest at �.0% per annum. Pr�nc�pal �s payable monthly, beg�nn�ng September �00� through matur�ty �n August �0��. At June �0, �0��, $���,��� �s outstand�ng.
B. Component Unit
Economic Development Authority - The Author�ty has a $��,�00 note rece�vable from George Larry Burdette and Karen Lynn Burdette related to the sale of lot number �0A, wh�ch was land held for resale. Th�s note �s secured by a deed of trust on the property. The note bears �nterest at �.�% per annum. Pr�nc�pal and �nterest payments of $��0 are due monthly beg�nn�ng January �000 and cont�nu�ng monthly unt�l December ��, �0��. As of June �0, �0��, the note balance �s $��,���.
The Author�ty has a $��,�00 note rece�vable from Shadow Stone, LLC related to the sale of lot number �0B, wh�ch was land held for resale. Th�s note �s secured by a deed of trust on the property. The note bears �nterest at �.� % per annum. Pr�nc�pal and �nterest payments of $��0 are due monthly beg�nn�ng �n January �000, and cont�nu�ng monthly unt�l December ��, �0��. As of June �0, �0��, the note balance �s $��,���.
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Note 5 - Interfund Accounts and Transfers
Interfund Accounts - represent outstand�ng balances between funds result�ng from the t�me lag between the dates that (�) �nterfund good and serv�ces are prov�ded or re�mbursable expend�tures occur, (�) transact�ons are recorded �n the account�ng system, and (�) payment between funds are made. These amounts �nclude balances of work�ng cap�tal loans made to the enterpr�se funds wh�ch the general fund expects to collect �n subsequent year. These accounts are also referred to as due to/from other funds. Most depos�ts and cash d�sbursements are processed us�ng the General Fund bank account. These depos�t and cash d�sbursement transact�ons create the �nterfund balances.
At June �0, �0��, the �nterfund account balances were as shown below:
Due From Due ToPrimary Government:
General Fund Spec�al Revenue Funds �,���,��0$ �,���,���$ Cap�tal Projects Fund - ��,���,��� Enterpr�se Funds �,���,��� �,���,0��
�,���,��� ��,�0�,���Spec�al Revenue Funds General Fund �,���,��� �,���,��0Cap�tal Projects Fund General Fund ��,���,��� - Propr�etary Funds General Fund �,���,0�� �,���,���
��,��0,��0$ ��,��0,��0$ Component Units:
Pr�mary government – General Fund -$ ��,���,���$ Pr�mary government – Cap�tal Projects - �,���,00� Pr�mary government – Spec�al Revenue Funds - ��,��� Component un�t – Board of Educat�on ��,00�,��� - Component un�t – Econom�c Development Author�ty ���,��� -
��,���,���$ ��,���,���$
Interfund Transfers - are used to (�) move revenues from the fund w�th collect�on author�ty to the enterpr�se and cap�tal project funds for bond proceeds and (�) move general fund resources to prov�de annual operat�ng subs�dy to the cap�tal projects, spec�al revenue, and enterpr�se funds.
Dur�ng the f�scal year ended June �0, �0��, the �nterfund transfers were as follows:
Primary Government:Governmental Funds Transfers in Transfers out Spec�al Revenue Funds �,���,���$ �,���,���$ Cap�tal Projects Fund �,���,��� - General Fund - ��,���,���
��,���,��� ��,���,��0Propr�etary Funds Water and Sewer Fund ��,��� - Sol�d Waste Fund ���,��� - Nonmajor propr�etary funds �,���,��� -
�,���,��� -Total Transfers ��,���,��0$ ��,���,��0$
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Note 6 - Capital Assets
A. Primary Government
A summary of changes �n cap�tal assets are as follows:
Cap�tal assets, not be�ng deprec�atedConstruct�on �n Progress �,���,���$ ��,���,���$ (��,���,�0�)$ (�) ��,��0,���$ Land Development R�ghts ��,���,�0� - - ��,���,�0� Land �0,���,��� - - �0,���,���
��,���,��� ��,���,��� (��,���,�0�) ��,���,���
Cap�tal assets, be�ng deprec�atedBu�ld�ngs ��,��0,��� ���,��� - ��,���,��� Improvements ��,���,��� ���,��� - ��,���,0�� Mach�nery & Equ�pment ��,���,��� �,���,��� (���,�0�) ��,���,��� Infrastructure ���,���,��� �,���,0�� - ���,0��,���
���,���,��� �,���,��� (���,�0�) ���,���,���
Less accumulated deprec�at�on for:Bu�ld�ngs (��,���,���) (�,0��,���) - (��,���,���) Improvements (��,���,���) (�,���,���) - (��,���,��0) Mach�nery & Equ�pment (��,���,�0�) (�,���,���) ���,��� (��,���,0��) Infrastructure (��,���,��0) (�,��0,���) - (��,���,0��)
(���,���,���) (��,���,���) ���,��� (���,���,���) Total cap�tal assets, be�ng deprec�ated, net ���,���,��� (�,���,���) (�,��0) ���,���,��0 Governmental act�v�t�es cap�tal assets, net ��0,���,���$ ��,���,���$ (��,��0,���)$ ���,�0�,���$
Business-type activities:Cap�tal assets, not be�ng deprec�ated
Construct�on �n Progress �,���,��0$ ���,���$ (���,���)$ �,���,���$ Land �,���,�0� - - �,���,�0�
�,��0,��� ���,��� (���,���) �,���,0��
Cap�tal assets, be�ng deprec�atedBu�ld�ngs ��,���,��� ���,��� - ��,��0,�0� Improvements ��,��0,��� ���,��0 (���,���) ��,0�0,�0� Mach�nery & Equ�pment �,�0�,�0� �,�0�,��� (���,���) ��,���,���
��,���,��� �,0�0,0�� (�0�,���) ��,���,0��
Less accumulated deprec�at�on for:Bu�ld�ngs (��,��0,���) (�,��0,��0) - (��,���,���) Improvements (�,���,���) (���,��0) �00,��� (�,00�,���) Mach�nery & Equ�pment (�,���,���) (�0�,���) ���,��� (�,���,���)
(��,���,���) (�,���,���) ���,�00 (��,�0�,���) Total cap�tal assets, be�ng deprec�ated, net �0,���,��� �00,��� (��,0��) ��,���,��0 Bus�ness-type act�v�t�es cap�tal assets, net ��,���,���$ �,���,�0�$ (���,���)$ ��,���,���$
(�) Includes assets of $�,�0�,�00 that were transferred to the Board of Educat�on.
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
B. Component Units:
Economic Development Authority
A summary of changes �n cap�tal assets for the year ended June �0, �0�� as follows:
Balance Retirements/ BalanceJune 30, 2011 Additions Reclassifications June 30, 2012
Governmental activites:Cap�tal assets, not be�ng deprec�ated
Land ��,���$ -$ -$ ��,���$ ��,���$ -$ -$ ��,���$
Board of Education
A summary of changes �n cap�tal assets for the year ended June �0, �0�� as follows:
Balance Retirements/ BalanceJune 30, 2011 Additions Reclassifications June 30, 2012
Governmental activities:Cap�tal assets, not be�ng deprec�ated
Land �,���,���$ -$ -$ �,���,���$ Construct�on �n progress �0,���,��� ��,���,��� (��,��0,���) �,���,���
��,�0�,��� ��,���,��� (��,��0,���) �,���,��� Cap�tal assets, be�ng deprec�ated
Bu�ld�ngs and �mprovements ���,���,��� - ��,��0,��� ���,���,�0�Land �mprovements �,���,��� - - �,���,��� Equ�pment �,�0�,��� ���,0�� (��,���) �,���,�0�
���,�0�,��� ���,0�� ��,���,��� �0�,��0,���Less accumulated deprec�at�on for:
Bu�ld�ngs and �mprovements (��,��0,���) (�,���,���) - (��,�0�,�0�) Land �mprovements (�,�0�,���) (���,���) - (�,���,���) Equ�pment (�,���,���) (���,���) ��,��� (�,���,��0)
(��,���,�0�) (�,���,���) ��,��� (��,���,0��) Total cap�tal assets, be�ng deprec�ated, net ���,���,��� (�,��0,���) ��,��0,��� ���,���,���Governmental act�v�t�es cap�tal assets, net ���,���,���$ �,���,��0$ -$ ���,�0�,0��$
Business-type activities:Equ�pment at h�stor�cal cost �,��0,���$ ��,���$ -$ �,���,�0�$
Less accumulated deprec�at�on (�,��0,���) (��,���) - (�,�0�,��0) Bus�ness-type act�v�t�es cap�tal assets, net ��0,���$ ��,���$ -$ ���,���$
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Component Units, continued
Board of Education
The Board’s act�ve school construct�on projects as of June �0, �0�� as follows:
Spent to Date CommitmentCalvert H�gh �,��0,���$ �,��0,���$ Other - ���,���
Total �,��0,���$ �,�0�,���$
These projects are funded pr�mar�ly by cap�tal grants from Calvert County and the State of Maryland.
Deprec�at�on expense for the year ended June �0, �0�� for Calvert County and component un�ts (Board of Educat�on and Econom�c Development Author�ty) were as follows:
Primary Government: Component Units:Governmental activities: Board of Education - governmental activities:
General government �,���,��0$ Instruct�on:Publ�c safety �,���,��� Regular educat�on ���,���$ Publ�c works �,���,��0 Spec�al educat�on �0,��� Health and hosp�tals ��,��� Support serv�ces:Soc�al serv�ces ��,��0 Adm�n�strat�on �0�,��� Recreat�on and culture �,���,�0� M�d-level adm�n�strat�on ��� M�scellaneous - Transportat�on �,0��
Total ��,���,���$ Operat�on of plant and equ�pment �,0��,�0�
Business-type activities: Ma�ntenance of plant ��,��� Water and Sewer �,0��,���$ Total �,���,���$
Sol�d Waste and Recycl�ng �0�,��� Board of Education - business-type activities:Mar�ne Museum ��0,��� Food serv�ces ��,���$
Chesapeake H�lls Golf Course ���,��� �,���,���$ Economic Development: -$
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Note 7 - Long-Term Obligations
A. Primary Government
Changes �n Long-term Obl�gat�ons
The follow�ng �s a summary of the changes �n long-term obl�gat�ons of the County for the year ended June �0, �0��.
Amounts Beginning Ending Due Within
Balance Additions Deductions Balance One YearGovernmental activities:
Bonds and Notes Payable General Obl�gat�on Bonds (�) ���,��0,���$ ��,���,��0$ (��,�0�,���)$ ���,�0�,���$ ��,�0�,0��$ Notes Payable (�) ���,0�� - (��,���) ���,��� ��,��� Land Preservat�on Program �0,���,��� - (�,���,�00) �,���,��� - Other L�ab�l�t�es: Landf�ll Closure Costs ��0,000 - (�0,000) ��0,000 �0,000 Compensated Absences �,0��,��0 �,0��,��� (�,���,���) �,���,�0� �,���,0��
Total ���,���,���$ ��,���,���$ (��,���,���)$ ���,���,���$ ��,0��,���$
Business-type activities:Bonds and Notes Payable General Obl�gat�on Bonds (�) �,���,�0�$ �,���,���$ (���,���)$ �0,���,���$ ���,���$ Notes Payable (�) �,���,��� ���,��� (���,���) �,���,��� ���,��� Other L�ab�l�t�es: Landf�ll Closure Costs �,���,��� ��,000 - �,���,��� - Compensated Absences ��0,��� ��,�0� (��,���) ���,��0 �0�,000
Total ��,���,���$ �,���,��0$ (�,���,��0)$ ��,���,���$ �,��0,���$
(�) Ind�cates debt �ssued for the purpose of acqu�r�ng cap�tal assets. (�) Represents debt used for other governmental purposes.
The l�ab�l�ty for Compensated Absences, under governmental act�v�t�es, the general fund normally l�qu�dates �� percent, the spec�al revenue funds l�qu�date less than � percent. For the bus�ness-type act�v�t�es, the sol�d waste fund l�qu�dates � percent, the water and sewer fund l�qu�dates � percent, and the nonmajor propr�etary funds l�qu�date � percent.
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Obl�gat�on Balances and Terms – Governmental Act�v�t�es
Long-term obl�gat�ons as of June �0, �0��, cons�st of the follow�ng:
GovernmentalAmount Due Act�v�t�es
Bond Descr�pt�on and Year Borrowed Rate ser�ally through BalanceGovernmental Activities
General Obligation Bonds
Consol�dated Publ�c Improvement Project Bonds, �00� Ser�es �0,���,000$ �% - �% July ��, �0�� $ �,��0,���
Refund�ng Bonds, �00� Ser�es (replaced the ���� Ser�es bonds) ��,���,0�0 �% - �% July ��, �0�� �,���,��0
Consol�dated Publ�c Improvement Project Bonds, �00� Ser�es �,��0,000 �% - �% Apr�l �, �0�� �,��0,000
Consol�dated Publ�c Improvement Project Bonds, �00� Ser�es �,���,000 �.���% - �.�% Apr�l �, �0�� �,���,000
Consol�dated Publ�c Improvement Project Bonds, �00� Ser�es �0,���,000 �% - �% Apr�l �, �0�� �,�00,000
Consol�dated Publ�c Improvement Project Bonds, �00� Ser�es ��,��0,000 �% - �% Apr�l �, �0�� ��,��0,000
Consol�dated Publ�c Improvement Project Bonds, �00� Ser�es ��,��0,000 �% - �% Apr�l �,�0�� ��,��0,000
Consol�dated Publ�c Improvement Project Bonds, �00� Ser�es ��,���,000 �% - �.�% Apr�l �,�0�� ��,��0,000
Consol�dated Publ�c Improvement Project Bonds, �0�0 Ser�es ��,���,��� �% - �% July �, �0�� ��,���,0��
Refund�ng Bonds, �0�0 Ser�es (replaced the �00� Ser�es bonds) �,�00,000 �% - �% January �, �0�� �,�00,000
Consol�dated Publ�c Improvement Project Bonds, �0�� Ser�es ��,���,��� �% - �% May �, �0�� ��,���,���
Refund�ng Bonds, �0�� Ser�es (replaced the �00�/�00� Ser�es bonds) ��,��0,000 �% - �% July ��, �0�� ��,��0,000
Consol�dated Publ�c Improvement Project Bonds, �0�� Ser�es �,���,��0 �% - �% Apr�l �, �0�� �,���,��0
Refund�ng Bonds, �0�� Ser�es (replaced the �00�/�00� Ser�es bonds) �,���,000 �% - �% Apr�l �, �0�� �,���,000
Shore Erosion Control
Western Shores (non-�nterest bear�ng) ���,0�� n/a July �, �0�� ��,���
Solomons Un�ted Method�st Church (non-�nterest bear�ng) ��,��0 n/a July �, �0�� ��,��0
Our Lady Star of the Sea (non-�nterest bear�ng) ��,��� n/a July �, �0�� ��,���
Other
The Land Preservat�on Program �0,���,��� �% - �% �,���,���
Total General Obl�gat�on Bonds and Notes Rece�vables ���,��0,0�� ���,���,��0
Est�mated Landf�ll Postclosure Costs ��0,000
Prem�um, �00�, �0�0, �0��, �0�� ���,���
Accumulated Unpa�d Employee Leave �,���,�0�
Total Governmental Act�v�t�es ���,��0,0��$ ���,���,���$
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Obl�gat�on Balances and Terms – Bus�ness-Type Act�v�t�es
Long-term obl�gat�ons as of June �0, �0��, cons�st of the follow�ng:
Bus�ness-TypeAmount Due Act�v�t�es
Bond Descr�pt�on and Year Borrowed Rate ser�ally through BalanceBusiness-Type Activities
General Obligation Bonds - Water and Sewer
Refund�ng Bonds, �00� Ser�es (replaced the ���� Ser�es bonds) �,0�0,��0$ �% - �% July ��, �0�� $ ���,�0�
Consol�dated Publ�c Improvement Project Bonds, �0�0 Ser�es �,���,�0� �% - �% July �, �0�� �,�00,���
Consol�dated Publ�c Improvement Project Bonds, �0�� Ser�es �,���,000 �% - �% May �, �0�� �,���,���
Consol�dated Publ�c Improvement Project Bonds, �0�� Ser�es �,0��,000 �% - �% Apr�l �, �0�� �,0��,000
Notes Payable - Water and Sewer
Water Supply Fac�l�t�es Loan Note ��,��� �.�% November �, �0�� ��,���
General Fund Note - Dares Beach Water Supply ���,��� �.�% June �0, �0�� �0�,���
General Fund Note - Pr�nce Freder�ck (non-�nterest bear�ng) ���,��� n/a January �, �0�� ���,���
General Fund Note - Shores of Calvert (�nterest bear�ng) ���,��� �.�0% July �, �0�� ���,���
Maryland Department of the Env�ronment (MDE) Note ��0,000 �.��% February �, �0�� ���,���
Maryland Water Qual�ty F�nanc�ng Adm�n Note - Solomons Wastewater �,���,0�� �.��% August �, �0�� ���,�0�
Maryland Water Qual�ty F�nanc�ng Adm�n Note - Dares Beach �00,000 �.�% August �, �0�0 ���,���
Maryland Water Qual�ty F�nanc�ng Adm�n Note - Pr�nce Freder�ck �,�00,000 �.�% February �, �0�� �,���,0��
Maryland Water Qual�ty F�nanc�ng Adm�n Note - Patuxent Bus�ness Park �00,000 �% February �, �0�� ��0,���
Maryland Water Qual�ty F�nanc�ng Adm�n Note - Chesapeake Beach �,0��,0�� �.�% February �, �0�� ���,���
Total General Obl�gat�on Bonds and Notes Rece�vables ��,0��,��� ��,���,���
Deferred Loss on Refund�ng, �00� Ser�es (��,���)
Prem�um, �0�0, �0�� & �0�� Ser�es ���,0��
Accumulated Unpa�d Employee Leave ��0,���
Total Water and Sewer ��,0��,���$ ��,���,���$
General Obligation Bonds - Solid Waste
Refund�ng Bonds, �00� Ser�es (replaced the ���� Ser�es bonds) �,�0�,��0$ �% - �% July ��, �0�� $ ��0,���
Consol�dated Publ�c Improvement Project Bonds, �0�0 Ser�es ���,0�� �% - �% July �, �0�� ��0,���
Consol�dated Publ�c Improvement Project Bonds, �0�� Ser�es �,000,000 �% - �% May �, �0�� ���,���
Total General Obl�gat�on Bonds �,���,��� �,���,���
Est�mated Landf�ll Postclosure Costs �,���,���
Prem�um, �0�0 & �0�� Ser�es ��,���
Accumulated Unpa�d Employee Leave ��0,���
Total Sol�d Waste �,���,���$ �,���,0��$
General Obligation Bonds - Chesapeake Hills Golf Course
Consol�dated Publ�c Improvement Project Bonds, �0�� Ser�es ���,��0$ �% - �% Apr�l �, �0�� ���,��0$
Total General Obl�gat�on Bonds ���,��0 ���,��0
Prem�um, �0�� Ser�es ���,���
Accumulated Unpa�d Employee Leave ��,0��
Total Chesapeake H�lls Golf Course ���,��0$ ���,���$
Total Bus�ness Type Act�v�t�es ��,0�0,���$ ��,���,���$
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Debt Requ�rements
The m�n�mum annual requ�rements to amort�ze all outstand�ng debt, except accumulated unpa�d vacat�on, personal and s�ck leave, est�mated landf�ll closure and postclosure costs as of June �0, �0�� are as follows:
Years Ending June 30, Principal Interest Total
�0�� ��,��0,���$ �,���,���$ ��,�0�,�0�$ �0�� ��,���,��� �,���,��� ��,���,����0�� ��,��0,��� �,���,��� ��,���,000�0�� ��,���,��� �,���,��� ��,���,��0�0�� ��,00�,��� �,���,0�� ��,���,���
�0��-�0�� ��,��0,��� �,���,��� ��,�0�,��0�0��-�0�� ��,���,�0� �,���,0�� ��,���,����0��- plus �0,�00 - �0,�00 Prem�um ���,��� - ���,���
���,���,���$ ��,���,���$ ���,���,��0$
Governmental Activities
Years Ending June 30, Principal Interest Total �0�� �,���,���$ ���,���$ �,��0,���$ �0�� �,���,��� �0�,��0 �,���,��� �0�� �,���,��� ���,��� �,���,��� �0�� �,0��,��� ���,��� �,���,��� �0�� �,0��,��� ���,��� �,��0,���
�0��-�0�� �,��0,��� �,���,��� �,���,0�� �0��-�0�� �,���,��� ���,�0� �,��0,��� �0��- plus �,���,��� ���,0�� �,���,�0�
Def. loss on ref./prem�um ���,0�� - ���,0��
��,���,���$ �,���,���$ ��,0��,�0�$
Business-Type Activities
Est�mated Closure and Postclosure Costs
Barstow Landfill - Dur�ng ����, the County closed the Barstow Landf�ll. The current est�mate of post closure costs �s $��0,000. The landf�ll �s at �00% capac�ty w�th no rema�n�ng useful l�fe. An amount �s recorded �n the general long-term debt account group for the est�mated postclosure costs assoc�ated w�th the Barstow Landf�ll. Th�s amount �s requ�red by state and federal regulat�ons to prov�de for mon�tor�ng costs assoc�ated w�th the closed landf�ll. Therefore, the total est�mated cost of postclosure care has been recorded.
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Appeal Landfill – Th�s �s the County’s current operat�ng landf�ll. In ����, the County entered �nto a long-term arrangement under wh�ch the County's waste �s transferred out of the County, wh�ch has extended the l�fe of the landf�ll. An accrual �s recorded for the est�mated closure and postclosure costs assoc�ated w�th the Appeal Landf�ll. The accrual �s based upon the capac�ty used to date. Although closure and postclosure care costs w�ll be pa�d only near or after the date the landf�ll stops accept�ng waste, a port�on of these closure and postclosure care costs are reported as an operat�ng expense �n each per�od based on landf�ll capac�ty used as of each balance sheet date. Th�s accrual �s requ�red by state and federal regulat�ons to prov�de for the capp�ng and mon�tor�ng costs assoc�ated w�th the clos�ng of the landf�ll. The est�mate of total closure and post closure costs, prov�ded by an �ndependent contractor spec�al�z�ng �n landf�lls �s $�,�0�,���.
Th�s amount has been and w�ll be �ncreased by a factor of �.�% to account for �nflat�on, through f�scal year �0��. These cost est�mates generated �n f�scal year �00� are scheduled to be updated �n f�scal year �0�� by an �ndependent contractor to ensure compl�ance w�th chang�ng federal and state laws, potent�al changes �n costs due to �nflat�on or deflat�on, and changes �n technology �n an effort to ma�nta�n accurate accruals. The percentage of the landf�ll that �s full was re-est�mated �n FY�0 as �0%; therefore, $�,���,��� represents the accrued reserve at June �0, �0��, wh�ch �s reported �n the Sol�d Waste and Recycl�ng fund. The amount that has not yet been recogn�zed �n the County’s f�nanc�al statements �s $���,���. Th�s reserve w�ll be �ncreased w�th annual contr�but�ons.
B. Component Units
Changes �n Long-term Obl�gat�ons
The follow�ng �s a summary of the changes �n the Long-Term Obl�gat�ons of the Board of Educat�on for the year ended June �0, �0��:
AmountsBeginning Ending Due Within
Balance Additions Deductions Balance One YearGovernmental activities:
Compensated absences �,���,��� �,0��,��� (�,0��,���) �,���,��� ��,��� Net OPEB obl�gat�on ��,���,��� ���,��� - ��,���,��� -
��,��0,���$ �,��0,���$ (�,0��,���)$ ��,���,���$ ��,���$
Business-type activities:Compensated absences ��,���$ ��,���$ (��,���)$ ��,���$ -$ Net OPEB obl�gat�on ���,��� �,��� - �0�,��� -
��0,���$ ��,���$ (��,���)$ ���,��0$ -$
-�0-
CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Note 8 - Fund Balances
A. Governmental Funds - Fund Balance
Fund Balance – In f�scal year �0��, Calvert County �mplemented Governmental Account�ng Standards Board Statement No. �� - Fund Balance Report�ng and Governmental Fund Type Def�n�t�ons (GASB ��). In the fund f�nanc�al statements, fund balance for governmental funds �s reported �n class�f�cat�ons that compr�se a h�erarchy based pr�mar�ly on the extent to wh�ch the County �s bound to honor constra�nts on the spec�f�c purpose for wh�ch amounts �n the funds can be spent. The new fund balance class�f�cat�ons are as follows:
�. Nonspendable: Amounts that cannot be spent because they are e�ther �n a nonspendable form, or are legally or contractually requ�red to be ma�nta�ned �ntact.
�. Restr�cted: Amounts that have constra�nts placed on them e�ther externally by th�rd-part�es (cred�tors, grantors, contr�butors, or laws or regulat�ons of other governments) or by law through const�tut�onal prov�s�ons or enabl�ng leg�slat�on.
�. Comm�tted: Amounts that can only be used for spec�f�c purpose pursuant to constra�nts �mposed by formal act�on of the County’s h�ghest level of dec�s�on mak�ng author�ty. The Board of County Comm�ss�oners (BOCC) �s the h�ghest level of dec�s�on-mak�ng author�ty, and comm�tted funds are establ�shed by resolut�on or leg�slat�on. Those comm�tted amounts cannot be used for any other purpose unless the BOCC removes or changes the spec�f�ed used by tak�ng the same type of act�on �t employed prev�ously to comm�t those amounts.
�. Ass�gned: Amounts that are constra�ned by the County’s �ntent to be used for spec�f�c purposes, but are ne�ther restr�cted nor comm�tted. The author�ty for ass�gn�ng fund balance �f expressed by the BOCC or the D�rector of F�nance and Budget as establ�shed �n the County’s Fund Balance Pol�cy.
�. Unass�gned: Amounts that have not been restr�cted, comm�tted or ass�gned to spec�f�c purposes w�th�n the general fund. The general fund �s the only fund that reports a pos�t�ve unass�gned fund balance amount. Other governmental funds bes�des the general fund can only report a negat�ve unass�gned fund balance amount.
The County has passed a fund balance resolut�on that spec�f�es the spend�ng order of the d�fferent types of fund balances. Nonspendable amounts by def�n�t�on can’t be spent, and restr�cted amounts are restr�cted by external part�es and can only be spent �n accordance w�th the restr�ct�ons. Therefore, �t �s the pol�cy of Calvert County to spend funds �n the follow�ng order: comm�tted, then ass�gned, and then unass�gned.
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
As of June �0, �0��, fund balances were reported as follows:
Nonmajor Total Capital Governmental Governmental
General Fund Projects Funds Funds
Nonspendable:Inventory ���,���$ -$ -$ ���,���$ Long term rece�vables �,��0,��� - - �,��0,��� Leverag�ng obl�gat�ons - - �,��0,0�� �,��0,0��
Restr�cted for:Other purposes - - �,��0,��� �,��0,��� Endowments - - �,��0 �,��0
Comm�tted to:Encumbrances:
General government ���,��� - - ���,��� Publ�c safety ���,��� - - ���,��� Publ�c works ���,��� - - ���,��� Health and hosp�tal �,��� - - �,��� Soc�al serv�ces ��� - - ��� Recreat�on and culture ���,��� - - ���,��� Other purposes ��,��0 - - ��,��0
Stab�l�zat�on arrangement ��,��0,000 - - ��,��0,000 Board of educat�on - �,���,00� - �,���,00� Other purposes ���,��� - �,0��,0�� �,���,���
Ass�gned to:Vacat�on/s�ck leave �,�00,000 - - �,�00,000 OPEB �,���,��� - - �,���,��� Other purposes - - ��,��� ��,��� Other cap�tal projects - ��,���,��� - ��,���,���
Unass�gned: ��,���,��� - - ��,���,���
Total fund balances: ��,���,���$ ��,0��,��0$ ��,��0,���$ ���,���,���$
GOVERNMENTAL FUNDS FUND BALANCES
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
JUNE 30, 2012
Other long-term receivables - The amount of notes rece�vable advanced to Dares Beach Water, Pr�nce Freder�ck Water and Sewer, Shores of Calvert Water and Sewer System, advances to the Water and Sewer fund, one Parks and Recreat�on notes and an amount due from a vendor rece�vable at June �0, �0��.
Reserved for other purposes - These amounts represent the port�on of fund balance restr�cted for the spec�al purpose of the follow�ng funds: Spec�al Revenue Funds, Parks and Recreat�on Fund, and Land Preservat�on Fund.
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Note 9 - Retirement Systems
A. Primary Government
All new employees to Calvert County Government are e�ther �n the Sher�ff’s Department Pens�on Plan or the Calvert County Employee Ret�rement Sav�ngs Plan. The Pr�mary Government operates four Pens�on Trust Funds – Calvert County Sher�ff’s Department Pens�on Plan, Calvert County Employees Ret�rement Plan, Volunteer F�re Department and Rescue Squads Plan, and the Calvert County Maryland Other Post-Employment Benef�ts Trust (OPEB). Separate aud�ted f�nanc�al statements have not been �ssued for these County plans. The County Plans’ Statements of Net Pos�t�on and Statements of Changes �n Net Pos�t�on are presented at the end of th�s note. In add�t�on, some employees part�c�pate �n the State Ret�rement System of Maryland. See pages ��-�� for add�t�onal �nformat�on.
Calvert County Employees Ret�rement Plan
Plan Description -The County contr�butes to the Calvert County Employees Ret�rement Plan (the Plan), a s�ngle employer def�ned benef�t pens�on plan that prov�des ret�rement benef�ts and death and d�sab�l�ty benef�ts to part�c�pat�ng employees and the�r benef�c�ar�es. All full-t�me employees of the County plus part-t�me employees work�ng at least �0% of a regular work week and employees of the off�ce of the State's Attorney and the Calvert County Hous�ng Author�ty were el�g�ble to part�c�pate �n the Plan. If h�red before July �, ����, benef�ts vest �00% for serv�ce greater or equal to � years, or �f h�red on or after July �, ����, benef�ts vest �00% for serv�ce greater or equal to seven years. No new part�c�pants were added to th�s plan after the adopt�on of the Calvert County Employee Ret�rement Sav�ngs Plan. Please see page �� for �nformat�on on th�s plan.
County employees �n th�s plan are el�g�ble to rece�ve ret�rement benef�ts the f�rst month follow�ng complet�on of �0 years of el�g�b�l�ty serv�ce or (�) �f h�red pr�or to July �, ����, f�rst month follow�ng atta�nment of age ��, complet�on of � years el�g�b�l�ty serv�ce and sum of age and serv�ce �s at least ��, and (�) �f h�red on or after July �, ����, the f�rst of the month follow�ng atta�nment of age �� and complet�on of � years of el�g�ble serv�ce. Benef�ts are payable monthly for l�fe, �n an amount equal to �.�% of the average f�nal salary (the h�ghest consecut�ve th�rty-s�x month per�od of base pay) up to covered compensat�on for each year of serv�ce up to �0 years plus .�% of average f�nal salary over the Soc�al Secur�ty �ntegrat�on level for each year of serv�ce up to �0 years, plus �.0% of the average f�nal salary for each year �n excess of �0 years up to � years. Benef�t prov�s�ons and all other requ�rements are establ�shed by the County Comm�ss�oners and adm�n�stered by a County-appo�nted Board of Trustees.
At June �0, �0��, the membersh�p �n the plan was as follows:
Ret�red ���Term�nated, vested ��
Act�ve, vested ���Act�ve non-vested 0Total act�ve ���
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Funding Policy - Part�c�pat�ng County employees are requ�red to contr�bute �% of the�r annual compensat�on to the Plan, plus an add�t�onal �% of base salary �n excess of Soc�al Secur�ty Wage Base. The County contr�butes the rema�n�ng amounts necessary to fund the payments of benef�ts under the Plan based upon the d�rect�on of �ts consult�ng actuary. The contr�but�ons made to the Plan for f�scal year �0�� were made �n accordance w�th the Plan requ�rements as of the July �, �0�� actuar�al report. The contr�but�ons cons�sted of amounts contr�buted by the employees of $�0�,�0� (�% of current covered payroll). The County's costs for f�scal year �0�� were $�,���,��0 (��% of current covered payroll).
The net pens�on obl�gat�on was computed us�ng the Projected Un�t Cred�t Method as a part of an actuar�al valuat�on performed as of July �, �0��. The actuar�al value of assets was determ�ned us�ng the assumed y�eld method w�th a market value adjustment. The s�gn�f�cant actuar�al assumpt�ons used �n the valuat�on �nclude an �nflat�on rate of �.�%, rate of return on the �nvestments of present and future assets of �% a year compounded annually, add�t�onal projected salary �ncreases of �% compounded annually for ages under �� and �% compounded annually for ages �� and older, cost of l�v�ng �ncreases of �% per year calculated on a compound �nterest bas�s, and no postret�rement benef�t �ncreases.
Funded Status - The follow�ng schedule presents the funded status as of June �0, �0��:
Actuar�al Valuat�on Date June
�0,
Actuar�al Value of Assets
Actuar�al Accrued L�ab�l�ty (AAL)
Unfunded AAL
(UAAL)Funded
Rat�oCovered Payroll
UAAL as a % of
Covered Payroll
�0�� ��,���,���$ ��,��0,���$ ��,���,�0�$ ��.��% �,�0�,���$ ���.0�%
The plan’s unfunded actuar�al l�ab�l�ty �s be�ng amort�zed us�ng the level dollar method over a closed per�od of �0 years.
Funding Progress - The schedule of fund�ng progress (presented as requ�red supplementary �nformat�on) g�ves mult�year trend �nformat�on about whether the actuar�al value of plan assets �s �ncreas�ng or decreas�ng over t�me relat�ve to the actuar�al accrual l�ab�l�ty for benef�ts.
Annual pension cost (APC) and Net pension assets (NPA) - The follow�ng schedule g�ves �nformat�on on the County’s APC and NPA:
Annual requ�red contr�but�on (ARC) �,��0,���$ Interest on NPA (�,0��) Adjustment to ARC �,��� Annual pens�on cost (APC) �,���,���$ Contr�but�ons made �,���,��0 Decrease (�ncrease) �n net pens�on asset (�,���) Net pens�on asset, beg�nn�ng of year (�0,���) Net pens�on asset, end of year (��,���)$
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
The County’s APC, percentage of APC contr�buted, and NPA for the plan for the current year and each of the two preced�ng years were as follows:
State Ret�rement System of Maryland
Plan Description - On October ��, ����, the Comm�ss�oners approved the w�thdrawal of employees of Calvert County from the State Ret�rement and Pens�on System of Maryland (the System) based on the establ�shment of the Calvert County Employees Ret�rement Plan. All employees covered under the System were g�ven the opt�on to part�c�pate �n the new plan or rema�n �n the System. All but �� County employees opted to part�c�pate �n the new plan. Th�rty employees rema�ned �n the State of Maryland Employees' Ret�rement System and �� employees rema�ned �n the State of Maryland Employees' Pens�on System (collect�vely the Employees' Systems). The effect�ve date of the w�thdrawal from the System was June �0, ����.
The State Ret�rement Agency (the Agency) �s the adm�n�strator of the System, a cost- shar�ng mult�ple-employer publ�c-employee ret�rement system. The System was establ�shed by the State Personnel and Pens�on Art�cles of the Annotated Code of Maryland Rules and Regulat�ons and prov�des ret�rement allowances to System members and benef�c�ar�es. Respons�b�l�ty for the adm�n�strat�on and operat�on of the System �s vested w�th a ��-member Board of Trustees. The System �ssues a publ�cly ava�lable f�nanc�al report that �ncludes f�nanc�al statements and requ�red supplementary �nformat�on for the System. That report may be obta�ned by wr�t�ng to the State Ret�rement and Pens�on System of Maryland, ��0 East Balt�more Street, Balt�more, Maryland ���0� or by call�ng (�00) ���-��0�.
Funding Policy - Members of the Employees Systems may elect to contr�bute �% to �% of the�r earnable compensat�on depend�ng on the ret�rement opt�on selected. Employer contr�but�on rates are determ�ned actuar�ally. The System pa�d the County the sum of $�0,���,���, the amount of the reserves allocable to the w�thdraw�ng employees on a market value bas�s as determ�ned by an actuary, together w�th �nterest at the rate of �.�% compounded annually from July �, ����, to the date of payment, reduced by the part�al payment of $�00,000 to the Calvert County Employees' Ret�rement System on December �0, ����. Based on the actuar�al valuat�on as of June �0, ����, the unfunded l�ab�l�ty for the employees and off�cers of the County who elected to rema�n �n the System amounted to $�,���,0��. The County pa�d the unfunded l�ab�l�ty �n two �nstallments: an �n�t�al �nstallment of $�00,000 on the date of th�s agreement, and a f�nal �nstallment of $���,0�� on July �, ����. The County's requ�red contr�but�ons and actual contr�but�ons to the Employee’s Systems for the years ended June �0, �00� through �0�� were zero.
Actuar�al Valuat�on
Date June �0,
Annual Pens�on Cost
(APC)
Percentage of APC
Contr�buted
Net Pens�on Obl�gat�on (Asset)
�0�� �,���,���$ �00.��% (��,���)$ �0�� �,���,��� �0�.0�% (�0,���)�0�0 �,0��,��� ��.��% ���,���
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
The computat�on of the pens�on contr�but�on requ�rements for f�scal year �0�� was based on the same actuar�al assumpt�ons, benef�ts prov�s�ons, actuar�al fund�ng method and other s�gn�f�cant factors used to determ�ne pens�on contr�but�ons requ�rements �n the prev�ous year. Contr�but�ons by the State of Maryland on behalf of the Calvert County Publ�c L�brary were $��0,�0�, $��0,���, and $���,���, for the years ended June �0, �0��, �0�� and �0�0. In accordance w�th GASB Statement Number ��, the State’s �0�� contr�but�on amount has been shown as State a�d revenue and pens�on expend�ture.
Calvert County’s Employee Ret�rement Sav�ngs Plan
On July ��, ����, the Comm�ss�oners approved the format�on of a s�ngle employer def�ned contr�but�on pens�on plan w�th a �% County contr�but�on and a requ�red �% contr�but�on from all el�g�ble employees. The plan was put �n place January �, ����. All employees h�red after June �0, ���� were automat�cally enrolled �n the def�ned contr�but�on pens�on plan.Requ�red contr�but�ons and all other plan prov�s�ons are establ�shed by the County Comm�ss�oners and adm�n�stered by a County-appo�nted Board of Trustees. The contr�but�ons by the County and the employees for the year ended June �0, �0�� were $���,��� and $���,0��, respect�vely.
Length of Serv�ce Award Program
Plan Description - The County contr�butes to the Length of Serv�ce Awards Program(LSAP) for the Volunteer F�re and Rescue Squads personnel of Calvert County (Plan), a s�ngle-employer noncontr�butory ret�rement and pens�on plan. Any person who �s cert�f�ed as an act�ve member w�th any Calvert County Volunteer F�re Company or Rescue Squad �s el�g�ble to part�c�pate �n the Plan. Act�ve members who atta�n age �� and have completed �� years of cert�f�ed volunteer serv�ce shall rece�ve $�00 per month plus $� per month add�t�onal for each year of serv�ce �n excess of �� years, w�th a max�mum benef�t of $�00 per month. If an act�ve member atta�ns age �0 and has � years of qual�fy�ng serv�ce out of the last � years, but does not complete �� years of serv�ce, a monthly benef�t equal to $� t�mes the years of serv�ce w�ll be payable. The Plan also prov�des for death and d�sab�l�ty benef�ts to part�c�pat�ng volunteers. Benef�t prov�s�ons and all other requ�rements are establ�shed by the F�re and Rescue Comm�ss�on and approved by the Comm�ss�oners as author�zed by the leg�slat�ve assembly. The County contr�butes all amounts necessary to fund the payments of benef�ts under the Plan.
At June �0, �0��, the membersh�p was as follows:
Ret�red ��
Act�ve, vested ��Act�ve, non- vested ���Total act�ve ���Act�ve employees rece�v�ng benef�ts ��
-��-
CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Funding Policy - The net pens�on obl�gat�on was computed us�ng the Projected Un�t Cred�t Cost Method as a part of an actuar�al valuat�on performed as of July �, �0��. The s�gn�f�cant actuar�al assumpt�ons used �n the valuat�on �nclude an �nflat�on rate of �.�%, a rate of return on the �nvestments of present and future assets of �% a year compounded annually; �0% of the part�c�pants are assumed to be marr�ed w�th spouses four years younger; part�c�pants, who have already earned at least two years of cred�t and have atta�ned age �0, are assumed to earn cred�t �n �0% of the�r future years. All others are assumed to earn no cred�t. The actuar�al value of assets was determ�ned us�ng the Assumed Y�eld Method w�th a Market Value adjustment.
The contr�but�ons made by the County to the Plan for f�scal �0�� total�ng $���,��� were made �n accordance w�th actuar�al determ�ned requ�rements computed through an actuar�al valuat�on performed as of July �, �0��.
Funded Status - The follow�ng schedule presents the funded status as of June �0, �0��:
Actuar�al Valuat�on Date June
�0,
Actuar�al Value of Assets
Actuar�al Accrued L�ab�l�ty (AAL)
Unfunded AAL
(UAAL)Funded
Rat�oCovered Payroll
UAAL as a % of
Covered Payroll
�0�� �,���,���$ �,��0,���$ �,���,���$ ��.��% N/A N/A
The plan’s unfunded actuar�al l�ab�l�ty �s be�ng amort�zed us�ng the level dollar method over a closed per�od of �0 years.
Funding Progress - The schedule of fund�ng progress (presented as requ�red supplementary �nformat�on) g�ves mult�year trend �nformat�on about whether the actuar�al value of plan assets �s �ncreas�ng or decreas�ng over t�me relat�ve to the actuar�al accrual l�ab�l�ty for benef�ts.
Annual pension cost (APC) and Net pension assets (NPA) - The follow�ng schedule g�ves �nformat�on on the County’s APC and NPA:
Annual requ�red contr�but�on (ARC) ���,��0$ Interest on NPA (��,��0) Adjustment to ARC ��,��� Annual pens�on cost (APC) ��0,���$ Contr�but�ons made ���,��� Decrease (�ncrease) �n net pens�on asset ��,��� Net pens�on asset, beg�nn�ng of year (���,00�) Net pens�on asset, end of year (��,��0)$
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
The County’s APC, percentage of APC contr�buted, and NPA for the plan for the current year and each of the two preced�ng years were as follows:
Calvert County Sher�ff’s Department Pens�on Plan
Plan Description - The County contr�butes to the Calvert County Sher�ff’s Department Pens�on Plan (Plan), a s�ngle-employer def�ned benef�t pens�on plan. All full-t�me deputy sher�ffs and correct�onal off�cers employed by the County, exclud�ng those who were h�red pr�or to July �, ����, who elected to rema�n �n the State Pens�on System, are el�g�ble to part�c�pate �n the Plan. Benef�ts vest �0% after � years, �ncreas�ng �% a year to �00% after �� years. County employees who ret�re at or after age �� or after �� years of serv�ce are ent�tled to an annual ret�rement benef�t, payable monthly for l�fe, �n an amount equal to �.�% of the�r f�nal average earn�ngs for each year of serv�ce up to �0, plus �% of f�nal average earn�ngs for serv�ce over �0 years and up to �� years. The Plan also prov�des for death and d�sab�l�ty benef�ts to part�c�pat�ng employees. Benef�t prov�s�ons and all other requ�rements are establ�shed by a County-appo�nted Board of Trustees.
At June �0, �0��, the membersh�p was as follows:
Ret�red ��Term�nated, vested ��
Act�ve, vested ���Act�ve, non-vested ��Total act�ve ���
Funding Policy - The net pens�on obl�gat�on was computed us�ng the Projected Un�t Cred�t Method as a part of an actuar�al valuat�on performed as of July �, �0��. The s�gn�f�cant actuar�al assumpt�ons used �n the valuat�on �nclude an �nflat�on rate of �.�%, a rate of return on the �nvestments of present and future assets of �% a year compounded annually; add�t�onal projected salary �ncreases of �.�0% to age ��, �.�0% from age �� to �� and �.00% thereafter; costs of l�v�ng �ncreases to all plan part�c�pants of �.00% per year calculated on a compound �nterest bas�s. The actuar�al value of assets was determ�ned us�ng an Asset Smooth�ng Method.
Actuar�al Valuat�on
Date June �0,
Annual Pens�on Cost
(APC)
Percentage of APC
Contr�buted
Net Pens�on Obl�gat�on (Asset)
�0�� ��0,���$ �0.0�% (��,��0)$ �0�� ���,��� ��.��% (���,00�) �0�0 ��0,��� ��.��% (�00,��0)
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Part�c�pat�ng County employees are requ�red to contr�bute �% of the�r annual compensat�on to the Plan, compounded annually w�th �% �nterest. The County contr�butes the rema�n�ng amounts necessary to fund the payments of benef�ts under the Plan based upon the d�rect�on of �ts consult�ng actuary.
The contr�but�ons made to the Plan for f�scal �0�� total�ng $�,���,�0� were made �n accordance w�th actuar�ally determ�ned requ�rements computed through an actuar�al valuat�on performed as of July �, �0��.
Amounts contr�buted by the County and Employees cons�sted of the follow�ng:
County (��.�% of current covered payroll) �,���,�0�$ Employees (�.�% of current covered payroll) ��0,���
Funded Status - The follow�ng schedule presents the funded status as of June �0, �0��:
Actuar�al Valuat�on Date June
�0,
Actuar�al Value of Assets
Actuar�al Accrued L�ab�l�ty (AAL)
Unfunded AAL
(UAAL)Funded
Rat�oCovered Payroll
UAAL as a % of
Covered Payroll
�0�� ��,���,��0$ ��,���,���$ ��,���,���$ ��.��% �0,���,���$ �0�.��%
The plan’s unfunded actuar�al l�ab�l�ty �s be�ng amort�zed us�ng the level dollar method over a closed amort�zat�on per�od of �0 years.
Funding Progress - The schedule of fund�ng progress (presented as requ�red supplementary �nformat�on) g�ves mult�year trend �nformat�on about whether the actuar�al value of plan assets �s �ncreas�ng or decreas�ng over t�me relat�ve to the actuar�al accrual l�ab�l�ty for benef�ts.
Annual pension cost (APC) and Net pension assets (NPA) - The follow�ng schedule g�ves �nformat�on on the County’s APC and NPA:
Annual requ�red contr�but�on (ARC) �,�00,�0�$ Interest on NPA (�,���)Adjustment to ARC (�0,���)Annual pens�on cost (APC) �,���,��0$ Contr�but�ons made �,���,�0�Decrease (�ncrease) �n net pens�on asset ��0,�0�Net pens�on asset, beg�nn�ng of year (��,�00)Net pens�on asset, end of year �0�,�0�$
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
The County’s APC, percentage of APC contr�buted, and NPA for the plan for the current year and each of the two preced�ng years were as follows:
Calvert County Maryland Other Post-Employment Benef�ts Trust
Plan description – The County contr�butes to the Calvert County Maryland Other Post-Employment Benef�t Trust (Plan), an agent mult�ple employer def�ned benef�t postemployment healthcare plan. Benef�t prov�s�ons and all other requ�rements are establ�shed by the County Comm�ss�oners and the County Board of Educat�on and adm�n�stered by a jo�ntly appo�nted Board of Trustees. The plan prov�des healthcare, prescr�pt�on drug and dental benef�ts to ret�red employees, spouses and dependants, of part�c�pat�ng governmental ent�t�es. The plan also prov�des l�fe �nsurance benef�ts for ret�rees of the Board of Educat�on. Act�ve employees of a part�c�pat�ng governmental ent�ty who ret�re or are d�sabled and meet the el�g�b�l�ty cr�ter�a w�ll part�c�pate. Generally employees must have ret�red from a part�c�pat�ng ent�ty to be el�g�ble.
The current employee/ret�ree membersh�p �n the Plan as of June �0, �0�� �s as follows:
County Board of Educat�onAct�ve ��� �,��� Ret�red ��� ��� Total ��� �,���
Funding Policy – The Calvert County Board of County Comm�ss�oners w�ll establ�sh annually a health �nsurance subs�dy amount under the Plan. These subs�d�es w�ll be rev�ewed annually and are subject to change based on budgetary constra�nts. For ret�rees who ret�red before June �0, �00�, the subs�dy �s �0% of the prem�um, for ret�rees who ret�red after June �0, �00� the subs�dy �s ��% of the prem�um. Ret�rees who ret�red pr�or to August �, ���� rece�ve �00% of the�r �nd�v�dual pol�cy and �0% of the d�fference between the �nd�v�dual pol�cy and the pol�cy selected. Ret�rees w�ll earn or vest �n the subs�dy based upon the�r years of cred�table serv�ce, at a rate rang�ng from �0% to �00%. Current ret�rees, who have a �00% subs�dy, equate to the Plan cover�ng ��% of the�r cost of benef�t coverage. The ret�ree �s respons�ble for the d�fference between the cost of the selected Plan and the earned subs�dy. The Board of Educat�on establ�shes the level of benef�ts for �ts ret�rees wh�ch �ncludes health care and l�fe �nsurance benef�ts.
Actuar�al Valuat�on
Date June �0,
Annual Pens�on Cost
(APC)
Percentage of APC
Contr�buted
Net Pens�on Obl�gat�on (Asset)
�0�� �,���,��0$ ��.0�% �0�,�0�$ �0�� �,���,��0 �0�.��% (��,�00) �0�0 �,���,��� ��.��% ��,��0
-�0-
CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Contr�but�on rates and the net other post employment benef�ts obl�gat�on for the year ended June �0, �0�� were actuar�ally determ�ned, us�ng the Projected Un�t Cred�t Actuar�al Cost Method, through an actuar�al valuat�on dated July �, �0�0 . The s�gn�f�cant actuar�al assumpt�ons used �n the valuat�on �nclude; a d�scount rate of �%, healthcare cost trend – med�cal �.�% �n the �0�0 plan year decl�n�ng 0.�% each plan year to �% for �0�� and later years, dental �% �n the �0�0 year decl�n�ng 0.��% to 0.�0% each year to �% for �0�� and later, mortal�ty - RP �000 comb�ned healthy mortal�ty table, except for the Sherr�ff’s Plan wh�ch uses ���� Group Annu�ty Mortal�ty Table.
The contr�but�ons to the Plan by the County for the years ended June �0 were as follows:
CountyOn behalf payments for
Board of Educat�on Total
�0�� �,���,0��$ �,���,���$ �0,��0,���$ �0�� �,�0�,��� �,���,��� �,���,��� �0�0 �0�,��� �,���,��� �,000,000
Funding Status & Progress- The schedule of fund�ng progress (presented as requ�red supplementary �nformat�on) g�ves �nformat�on about whether the actuar�al value of plan assets �s �ncreas�ng or decreas�ng over t�me relat�ve to the actuar�al accrual l�ab�l�ty for benef�ts.
Funding Status - At June �0, �0��, the fund�ng status was as follows:
Actuar�al Value of Assets
Actuar�al Accrued L�ab�l�ty (AAL)
Unfunded AAL
(UAAL)Funded
Rat�oCovered Payroll
UAAL as a % of
Covered Payroll
County �,���,���$ ��,���,���$ ��,���,��0$ ��.��% N/A N/ABoard of Educat�on ��,���,��� ���,���,��� ���,���,��� ��.��% N/A N/A
Total ��,���,���$ ���,���,��0$ ���,���,�0�$ ��.��% N/A N/A
Actuar�al valuat�ons �nvolve est�mates of value of reported amounts and assumpt�ons about the probab�l�ty of events far �nto the future. Actuar�ally determ�ned amounts are subject to cont�nual rev�s�ons as actual results are compared to past expectat�ons and new est�mates are made about the future. Project�on of benef�ts are based on the types of benef�ts prov�ded under the substant�ve plan at the t�me of each valuat�on and on the pattern of shar�ng of benef�t costs between the employer and plan member to that po�nt. Actuar�al calculat�ons reflect a long-term prospect�ve, and cons�stent w�th that perspect�ve, actuar�al methods and assumpt�ons used �nclude techn�ques that are des�gned to reduce short-term volat�l�ty �n actuar�ally accrued l�ab�l�t�es and the actuar�al value of assets.
The Plan’s unfunded actuar�al l�ab�l�ty �s be�ng amort�zed us�ng the level dollar method over a closed amort�zat�on per�od of �0 years.
-��-
CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Net OPEB Obligation - The County �mplemented GASB �� �n f�scal year �00� and elected to report a zero net OPEB obl�gat�on at the beg�nn�ng of the trans�t�on year. The County makes on behalf payments for the Board of Educat�on.
The schedule on the follow�ng page presents the net OPEB obl�gat�on for the past three years:
Actuar�al Valuat�on
Date June �0,
Annual Requ�red
Contr�but�on
Interest on Net Pens�on Obl�gat�on
Adjustment to Annual Requ�red
Contr�but�onAnnual OPEB
Cost
Pay as You go Payments Plus Contr�but�ons
Percentage Contr�buted
Increase �n net OPEB Obl�gat�on
End of Year net OPEB Obl�gat�on
County
�0�� �,���,���$ ���,0��$ ���,���$ �,���,0��$ �,���,���$ ��.��% �0�,��0$ �,���,0�0$ �0�� �,���,��� ���,��� ���,��� �,���,��� �,���,�00 ��.��% �,���,��� �,���,��0 �0�0 �,���,��� �00,��� ���,��� �,���,��� �,���,��� ��.��% �,0��,��� �,���,�0�
Board of Education
�0�� ��,���,���$ �,���,���$ �,���,���$ ��,���,���$ ��,���,���$ ��.��% ���,���$ ��,0��,���$ �0�� ��,���,�0� ���,��� ���,��0 ��,���,��� �,���,�0� ��.��% �,0��,��� ��,���,��� �0�0 ��,���,�0� ���,��� ���,��0 ��,���,�0� �,���,��� ��.��% �,���,��� ��,���,���
TOTAL
�0�� ��,���,���$ �,���,���$ �,���,���$ ��,0��,���$ ��,���,�0�$ ��.��% ���,���$ ��,���,���$ �0�� ��,��0,��� �,���,��� ���,��� ��,���,��0 �,���,�0� ��.��% �,���,��� ��,���,��� �0�0 ��,��0,��� ���,��� ���,��� ��,���,��0 �,���,��� ��.��% �,���,��� ��,���,���
Net Asset Information (all trust funds) – The statement of net pos�t�on and statement of changes �n net pos�t�on for all County-adm�n�stered plans are shown below:
Combining Statement of Plan Net Position
Volunteer Fire and Rescue
Sheriff’s Pension
Plan
Employees Retirement
Plan
Other Post Employment
Benefits TotalAssets:
Cash and cash equ�valents ��,���$ �,���,���$ ���,���$ �,�0�,���$ �,���,���$ Investments at Fa�r Value
F�xed �ncome ���,��� ��,�0�,��� ��,0��,�00 �,���,��� ��,���,��� Common Stocks - �,���,��� �,���,��� - ��,���,0�� Equ�ty funds �,���,��� ��,��0,�0� ��,���,��� ��,���,0�� ��,���,0�� Fore�gn Assets ���,��� �,���,��� �,��0,��� - �,���,��� Other Assets - �,�0�,�0� �,���,��� ���,�0� �,��0,���
Total �nvestments at fa�r value �,���,�0� ��,���,��� ��,���,�0� �0,���,��� ��0,�0�,��0
Total cash, cash equ�valents and �nvestments �,���,��� ��,���,��� ��,��0,��� ��,�00,��0 ���,���,���
Interest rece�vable �,��� ��,��� ��,��� � ��,��0
Total assets �,���,��0$ ��,���,0��$ ��,���,���$ ��,�00,���$ ���,��0,���$
Liabilities and Net Position Total L�ab�l�t�es - - - - -
Net Position held in trust for pension and other post employment benefits �,���,��0 ��,���,0�� ��,���,��� ��,�00,��� ���,��0,���
Total l�ab�l�t�es and net pos�t�on �,���,��0$ ��,���,0��$ ��,���,���$ ��,�00,���$ ���,��0,���$
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Volunteer Fire and Rescue
Sheriff’s Pension Plan
Employees Retirement
Plan
Other Post Employment
Benefits TotalAdditions:
Contr�but�onsPlan sponsor ���,���$ �,���,�0�$ �,���,��0$ �0,��0,���$ ��,���,���$ Employee - ��0,��� �0�,�0� - �,0��,���
Total Contributions ���,��� �,���,��� �,0��,��� �0,��0,��� ��,���,���
Investment income/(Loss):Net apprec�at�on/(deprec�at�on)
�n fa�r value of �nvestments (���,���) (���,���) (�,���,���) (�0�,���) (�,0��,���) Interest and d�v�dends ���,00� �,���,��0 �,���,��� �,���,��� �,�0�,��0 Net �nvestment �ncome/(loss) (��,���) ���,�0� ���,��� ���,��� �,���,��� Total Add�t�ons ���,�0� �,���,��� �,���,��� ��,���,��� ��,���,�0�
Expenditures:D�str�but�ons to part�c�pants ���,��� �,���,��� �,���,��� - �,0��,0�� Adm�n�strat�ve expenses ��,�00 ���,��� ���,��0 ��,��� �0�,��0
Total Expend�tures �0�,��� �,���,��� �,���,��� ��,��� �,���,���
Net �ncrease(decrease) (��,���) �,���,�0� �,���,��� ��,���,0�0 ��,���,���
Net Position Held in Trust for Pensionand Other Post Employment Benefits:
Beg�nn�ng of the year �,���,��� ��,��0,��� ��,���,��� ��,���,�0� ���,���,0��
End of the year �,���,��0$ ��,���,0��$ ��,���,���$ ��,�00,���$ ���,��0,���$
Combining Statement of Changes in Plan Net Position
B. Component Unit – Board of Education
Plan Description - The employees of the Board of Educat�on (the Board), are covered by the Teachers Ret�rement System, the Teachers Pens�on System of the State of Maryland (the Teachers Systems) or the Employees Ret�rement System and Employees Pens�on System of the State of Maryland. These systems are part of the Maryland State Ret�rement and Pens�on System, (the System) and are cost-shar�ng, mult�ple-employer, def�ned benef�t publ�c employee ret�rement systems.
The System was establ�shed �n accordance w�th the State Personnel and Pens�ons Art�cle of the Annotated Code of Maryland. Respons�b�l�ty for the adm�n�strat�on and operat�on of the systems �s vested �n a Board of Trustees (Trustees). The Trustees also have the author�ty to establ�sh and amend the respect�ve benef�t prov�s�ons. The System prov�des ret�rement and d�sab�l�ty benef�ts, annual cost of l�v�ng adjustments, and death benef�ts to system members and benef�c�ar�es.
The System �ssues a publ�cly ava�lable comprehens�ve annual f�nanc�al report that �ncludes f�nanc�al statements and requ�red supplementary �nformat�on for the Systems. That report may be obta�ned by wr�t�ng to the State Ret�rement and Pens�on System of Maryland, State Ret�rement Agency, ��0 East Balt�more Street, Balt�more, Maryland ���0�, or by call�ng (�00) ���-��0�.
-��-
CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Funding Policy - The State Personnel and Pens�ons Art�cle requ�re act�ve members to contr�bute to the System at the rate of �% to �% of the�r covered salary depend�ng upon the ret�rement opt�on selected. Contr�but�on rates for the Board are establ�shed by annual actuar�al valuat�ons us�ng the entry age normal test method. The State's contr�but�on’s on behalf of the Board to the Teachers systems for the years ended June �0, �0��, �0��, and �0�0 were approx�mately $��.0 m�ll�on, $��.0 m�ll�on, and $��.� m�ll�on, respect�vely.
Annual Required Contributions - For the year ended June �0, �0��, the Board’s annual pens�on cost of $�,0��,��� was equal to �ts requ�red contr�but�on. The annual requ�red contr�but�on was determ�ned as part of the June �0, �00� actuar�al valuat�on us�ng the entry age actuar�al cost method. The actuar�al assumpt�ons �ncluded (a) �.��% �nvestment rate of return, compounded annually, (b) projected salary �ncreases of �.�% compounded annually, attr�butable to �nflat�on, (c) add�t�onal projected salary �ncreases rang�ng from 0.0% to �.�% per year attr�butable to sen�or�ty and mer�t, (d) post-ret�rement benef�t �ncreases rang�ng from �.��% to �.�% per year depend�ng on the system, (e) rates of mortal�ty, term�nat�on of serv�ce, d�sablement and ret�rement based on actual exper�ence from �00� through �00�, and (f) the aggregate act�ve member payroll �s assumed to �ncrease by �.�% annually. The actuar�al value of the Systems’ assets was determ�ned us�ng techn�ques that smooth the effects of short-term volat�l�ty �n the market value of �nvestments by us�ng a s�mpl�f�ed f�ve-year mov�ng average. The Board’s unfunded actuar�al accrued l�ab�l�ty �s be�ng amort�zed �n d�st�nct p�eces. The equ�valent s�ngle amort�zat�on per�od �s ��.�� years. The Board’s annual pens�on cost for the last three years was:
F�scal Year Annual Net End�ng Requ�red Percentage Pens�on
June �0, Contr�but�on Contr�buted Obl�gat�on
�0�� �,0��,���$ �00% - �0�� �,���,��� �00% - �0�0 �,��0,��0 �00% -
Required Supplemental Information
Schedule of Funding Progress for the
(expressed �n thousands)
Actuar�al Actuar�al Actuar�al UAAL as a Valuat�on Actuar�al Accrued Unfunded Percentage Date Value of L�ab�l�ty (AAL) AAL Funded Covered of Covered(June �0) Assets Entry Age (UAAL) Rat�o Payroll Payroll
�0�� ��,���,���$ ��,���,���$ ��,���,���$ ��.�0% �0,���,�00$ ���%�0�0 ��,���,��� ��,0��,0�� ��,���,��� ��.��% �0,���,��� ���%�00� ��,���,��� ��,���,��� ��,���,�0� ��.0�% �0,���,��� ���%
State Retirement and Pension Systems of Maryland
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CALVERT COUNTY, MARYLAND
NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012
Note 10 - Commitments and Contingent Liabilities
The Comm�ss�oners are defendants �n several lawsu�ts. In the op�n�on of the County Attorney and legal counsel, pend�ng legal proceed�ngs are not l�kely to have a mater�al adverse �mpact on the County's f�nanc�al cond�t�on, and to the best of the�r knowledge, the County �s �n compl�ance w�th all state and local laws and ord�nances.
Note 11 - Risk Management
The County �s exposed to var�ous r�sks of loss related to torts; theft of, damage to, and destruct�on of assets; errors and om�ss�ons; �njur�es to employees; and related d�sasters. The County �s a cap�tal member of the Local Government Insurance Trust (LGIT) sponsored by the Maryland Mun�c�pal League (MML), and the Maryland Assoc�at�on of Count�es. The LGIT �s a self-�nsured publ�c ent�ty r�sk pool offer�ng general l�ab�l�ty, excess l�ab�l�ty, bus�ness auto l�ab�l�ty, pol�ce legal l�ab�l�ty, publ�c off�c�al l�ab�l�ty, env�ronmental l�ab�l�ty, and property coverage.
LGIT �s cap�tal�zed at an actuar�ally determ�ned level to prov�de f�nanc�al stab�l�ty for �ts local government members and to reduce the poss�b�l�ty of assessments. The trust �s owned by the part�c�pat�ng count�es and c�t�es and managed by a Board of Trustees elected by the members. Annual prem�ums are assessed for the var�ous pol�cy coverages. Dur�ng f�scal year �0��, the County pa�d prem�ums of $���,��� to the trust. The agreement for the format�on of LGIT prov�des that the trust w�ll be self-susta�n�ng through member prem�ums and w�ll re�nsure through commerc�al compan�es for cla�ms �n excess of $�00,000 for each �nsured event. Settled cla�ms result�ng from these r�sks have not exceeded commerc�al �nsurance coverage �n the past four f�scal years.
The County �s under a mod�f�ed retrospect�ve b�ll�ng arrangement w�th a commerc�al �nsurance carr�er to prov�de group health coverage. Under th�s arrangement the �nsurance carr�er assesses an �n�t�al charge pa�d by the County through monthly prem�ums. At the end of the coverage per�od, there �s a settlement of the d�fference between the b�lled prem�um and the actual cla�ms and expenses. A def�c�ency �n the b�lled prem�um represents the callable marg�n, wh�ch �s owed by the County, up to a max�mum of �%. If the actual cla�ms and expenses are less than the b�lled prem�um, the County would be ent�tled to a refund.
Note 12 - Subsequent Events
In prepar�ng these f�nanc�al statements, the management of Calvert County, Maryland has evaluated events and transact�ons for potent�al recogn�t�on or d�sclosure through December ��, �0��, the date the f�nanc�al statements were ava�lable to be �ssued.
“THIS PAGE LEFT INTENTIONALLY BLANK”
COUNTY COMMISSIONERS OF CALVERT COUNTYCALVERT COUNTY, MARYLAND
REQUIRED SUPPLEMENTARY INFORMATIONJUNE �0, �0��
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COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
SUMMARY SCHEDULE OF REVENUE AND EXPENDITURES,AND OTHER FINANCING SOURCES AND USES
BUDGET AND ACTUAL (BUDGETARY BASIS) - GENERAL FUNDFOR THE YEAR ENDED JUNE 30, 2012
VarianceBudget Budget (Over)
Original Final Actual UnderREVENUES
Taxes ���,���,��0$ ���,�0�,���$ ���,���,���$ (���,���)$ L�censes and perm�ts ���,�00 ���,�00 �0�,��� �0,��� Intergovernmental �,���,��� �,���,��� �,���,0�� (�,���) Charges for serv�ces �,���,�0� �,���,��� �,���,��� (���,���) F�nes and forfe�tures ���,��0 ���,��� ���,��� (��,���) M�scellaneous ��0,��� �,��0,��� �,�0�,��� (�,�0�,���)
Total revenues ���,���,��� ��0,���,��� ���,�0�,��� (�,���,��0)
EXPENDITURESGeneral government ��,���,��� ��,���,��� ��,���,��� ���,��� Publ�c safety ��,���,��� ��,�0�,��� ��,�0�,��� �00,��� Publ�c works �,���,��� �0,�0�,��� �,���,��� ���,��� Health and hosp�tals �,���,��� �,���,��� �,���,��� ��,�0� Soc�al serv�ces �,��0,��� �,�0�,��� �,���,��0 ��,��� Educat�on ���,���,��� ���,���,��� ���,���,��� - Recreat�on and culture �0,���,��� �0,���,��� �0,�0�,��� ��0,��� Conservat�on of natural resources �00,��� �0�,��� �0�,��0 (�,0��) Urban development and hous�ng �,���,�00 �,���,��� �,���,��� ��,��� Econom�c development �,���,0�� �,���,��� �,���,��� ���,��0 Pens�ons and �nsurance ��,0��,��� ��,���,��� ��,���,��� �0�,0�� Debt serv�ce Pr�nc�pal ret�rement ��,��0,��� �0,���,�0� �0,���,��� (�0) Interest �,���,��� �,���,��� �,���,��� - Bond expense - ���,�0� ���,�0� (��,�0�)
Total expend�tures ���,�0�,��� ���,���,��0 ��0,���,�0� �,���,�0�
OTHER FINANCING SOURCES (USES)Operat�ng transfers �n �,���,��� �0,0��,��� �,0��,��� (�,000,000) Operat�ng transfers out (�,���,�0�) (�,�0�,�0�) (�,���,���) ���,��0
Total other f�nanc�ng sources (uses) �,���,��� �,���,��� �,���,��� (���,��0)
Excess (def�c�ency) of revenue and other f�nanc�ng sources over expend�tures and other f�nanc�ng uses -$ -$ (�00,���)$ (�00,���)$
Revenue and transfers �n (budgetary bas�s) ���,���,0��$ Transfer adjustment (L�brary) (�0�,���) Revenue and transfers �n (GAAP bas�s) ���,���,���$
Expend�tures and operat�ng transfers out (budgetary bas�s) ���,0��,���$ Encumbrance/accrual adjustment (���,���) Transfer adjustment (L�brary) (�0�,���) Expend�tures and operat�ng transfers out (GAAP bas�s) ���,���,��0$
A reconc�l�at�on of the revenue and expend�tures of the general fund to present the comb�ned statement of revenue and expend�tures on a GAAP bas�s follows
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COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
CALVERT COUNTY MARYLAND POST-EMPLOYMENT BENEFIT PLANOTHER POST EMPLOYMENT BENEFITS SCHEDULES
YEAR ENDED JUNE 30, 2012
A. Schedule of Funding Progress
ActuarialValuationDate June
30,
ActuarialValue ofAssets
ActuarialAccruedLiability(AAL)
Unfunded AAL (UAAL) Funded Ratio
CoveredPayroll
UAAL as a % of Covered
PayrollCounty
�0�� �,���,���$ ��,���,���$ ��,���,��0$ ��.��% N/A N/A�0�� - �0,���,��0 �0,���,��0 0.00% N/A N/A�0�0 - �0,���,��0 �0,���,��0 0.00% N/A N/A�00� - ��,��0,��� ��,��0,��� 0.00% N/A N/A�00� - ��,��0,��� ��,��0,��� 0.00% N/A N/A
Board of Education
�0�� ��,���,���$ ���,���,���$ ���,���,���$ ��.��% N/A N/A�0�� - ��,���,��� ��,���,��� 0.00% N/A N/A�0�0 - ��,���,��� ��,���,��� 0.00% N/A N/A�00� - ��,0��,��� ��,0��,��� 0.00% N/A N/A�00� - ��,0��,��� ��,0��,��� 0.00% N/A N/A
Total
�0�� ��,���,���$ ���,���,��0$ ���,���,�0�$ ��.��% N/A N/A�0�� - ��0,0��,��� ��0,0��,��� 0.00% N/A N/A�0�0 - ��0,0��,��� ��0,0��,��� 0.00% N/A N/A�00� - �0�,���,��� �0�,���,��� 0.00% N/A N/A�00� - �0�,���,��� �0�,���,��� 0.00% N/A N/A
B. Schedule of Employer Contributions
AnnualRequired
Contribution
Pay as You go Payments Plus Contributions % Contributed
Net OPEB Obligation
Year ended June 30, 2012:County �,���,���$ �,���,���$ ��.��% �,���,0�0$ Board of Educat�on ��,���,��� ��,���,��� ��.��% ��,0��,���
��,���,���$ ��,���,�0�$ ��.0�% ��,���,���$ Year ended June 30, 2011:
County �,���,���$ �,���,�00$ ��.��% �,���,��0$ Board of Educat�on ��,���,�0� �,���,�0� �0.0�% ��,���,���
��,��0,���$ �,���,�0�$ ��.��% ��,���,���$ Year ended June 30 2010:
County �,���,���$ �,���,���$ ��.��% �,���,�0�$ Board of Educat�on ��,���,�0� �,���,��� ��.��% ��,���,���
��,��0,���$ �,���,���$ ��.��% ��,���,���$ Year ended June 30 2009:
County �,�0�,���$ �,���,���$ ��.��% �,���,���$ Board of Educat�on �,���,��� �,���,��� ��.�0% �,���,���
��,���,���$ �,0��,���$ ��.��% �,���,��0$ Year ended June 30 2008:
County �,�0�,���$ �,���,���$ ��.��% ���,���$ Board of Educat�on �,���,��� �,�0�,��� ��.��% �,���,���
��,���,���$ �,���,���$ ��.��% �,��0,���$
REQUIRED SUPPLEMENTARY INFORMATION
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COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
CALVERT COUNTY EMPLOYEES RETIREMENT PLANPENSION PLAN SCHEDULESYEAR ENDED JUNE 30, 2012
A. Schedule of Funding Progress
ActuarialValuationDate June
30,Actuarial
Value of Assets
ActuarialAccrued
Liability (AAL)Unfunded AAL
(UAAL) Funded RatioCoveredPayroll
UAAL as a % of Covered
Payroll
�0�� ��,���,���$ ��,��0,���$ ��,���,�0�$ ��.��% �,�0�,���$ ���.0�%�0�� ��,��0,��0 ��,���,��0 ��,���,��0 ��.��% �,���,��� ��0.��%�0�0 ��,���,��� ��,���,��� ��,���,��� ��.��% �,���,��� ���.��%�00� ��,���,��� ��,00�,��0 ��,���,��� ��.��% �0,��0,��� ���.0�%�00� ��,���,��0 ��,���,��� �,���,0�� ��.��% �0,��0,��� ��.��%�00� ��,���,��� ��,���,��� �,�0�,0�0 ��.��% �0,���,��� ��.��%
B. Schedule of Employer Contributions
YearsEnded
June 30, Contribution
AnnualRequired
ContributionPercentage
Contributed
�0�� �,���,��0$ �,��0,���$ �00.��%�0�� �,0�0,000 �,���,��0 �0�.��%�0�0 �,���,��� �,0��,��� ��.��%�00� �,���,��� �,���,�0� ��.��%�00� �,���,0�� �,���,0�� �00.00%�00� �,��0,000 �,���,��� �00.0�%
REQUIRED SUPPLEMENTARY INFORMATION
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COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
CALVERT COUNTY SHERIFF'S DEPARTMENT PENSION PLAN SCHEDULESYEAR ENDED JUNE 30, 2012
A. Schedule of Funding Progress
ActuarialValuationDate June
30,
ActuarialValue ofAssets
ActuarialAccruedLiability(AAL)
UnfundedAAL
(UAAL) Funded RatioCoveredPayroll
UAAL as a % of Covered
Payroll
�0�� ��,���,��0$ ��,���,���$ ��,���,���$ ��.��% �0,���,���$ �0�.��%�0�� �0,�0�,��� ��,���,��� ��,���,��� ��.��% �0,���,��� ���.��%�0�0 ��,���,��� ��,���,��� ��,���,��� ��.��% �0,���,��� ���.0�%�00� ��,���,��� ��,���,��� ��,0��,��� ��.�0% �0,0��,��� ��0.0�%�00� ��,�0�,��� ��,��0,��0 �,���,��� ��.��% �,���,��� �0.��%�00� ��,���,��� ��,���,��� �,���,��� ��.��% �,�0�,��� ��.��%
B. Schedule of Employer Contributions
YearsEnded June
30, Contribution
AnnualRequired
ContributionPercentage
Contributed
�0�� �,���,�0�$ �,�00,�0�$ ��.��%�0�� �,���,000 �,���,�0� �0�.��%�0�0 �,���,000 �,���,��� ��.��%�00� �,���,��� �,���,��� ��.��%�00� �,���,��� �,���,0�� �0�.��%�00� �,��0,000 �,���,��� �00.0�%
REQUIRED SUPPLEMENTARY INFORMATION
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
(VOLUNTEER FIRE DEPARTMENTS & RESCUE SQUADS)PENSION PLAN SCHEDULESYEAR ENDED JUNE 30, 2012
A. Schedule of Funding Progress
ActuarialValuationDate June
30,
ActuarialValue ofAssets
ActuarialAccruedLiability(AAL)
UnfundedAAL
(UAAL) Funded RatioCoveredPayroll
UAAL as a % of Covered
Payroll
�0�� �,���,���$ �,��0,���$ �,���,���$ ��.��% N/A N/A�0�� �,���,�0� �,���,��0 �,��0,��� ��.��% N/A N/A�0�0 �,��0,�0� �,���,��� �,���,��� ��.��% N/A N/A�00� �,���,��� �,0�0,��0 �,���,��� ��.��% N/A N/A�00� �,���,��� �,��0,000 �,���,0�� ��.�0% N/A N/A�00� �,���,��� �,���,��� �,���,��� ��.��% N/A N/A
B. Schedule of Employer Contributions
YearsEnded
June 30, Contribution
AnnualRequired
ContributionPercentage
Contributed
�0�� ���,���$ ���,��0$ ��.0�%�0�� ���,000 ���,��� ��.��%�0�0 ���,000 ���,��� ��.��%�00� ���,000 ���,000 �00.00%�00� ���,��� ���,��� �00.00%�00� ��0,000 ���,��� �00.��%
REQUIRED SUPPLEMENTARY INFORMATIONLENGTH OF SERVICE AWARD PROGRAM
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COUNTY COMMISSIONERS OF CALVERT COUNTYCALVERT COUNTY, MARYLAND
OTHER SUPPLEMENTARY INFORMATIONJUNE �0, �0��
-�0-
VarianceBudgeted Amounts Over
Original Final Actual (Under)Taxes
Real Estate and Personal Property TaxesReal estate levy �0�,���,0��$ �0�,���,��0$ �0�,���,���$ (�,���)$Personal property levy �00,000 �00,000 ���,��� (�0,���)Corporat�on levy �,��0,000 �,��0,000 �,���,��� (���,�0�)Payment �n l�eu of tax (PILOT) ��,���,��� ��,���,��� ��,���,��� -Publ�c ut�l�t�es tax ��,��0,000 ��,��0,000 ��,���,0�� ���,0��Add�t�ons and abatements (��0,000) (��0,000) ���,��0 ���,��0Penalt�es and �nterest �00,000 �00,000 ���,0�0 ���,0�0Tax cred�t (�,���,��0) (�,���,���) (�,�0�,0��) �,���Land preservat�on cred�t (��0,000) (��0,000) (��0,���) �,���
Total Real Estate and Personal Property Taxes ���,0��,0�� ���,0��,��� ���,���,��� ���,���
Other Local TaxesIncome taxes ��,���,��� ��,��0,000 ��,���,0�� (��0,���)Adm�ss�ons and amusement tax �0,000 �0,000 �0,��� ���Recordat�on taxes �,�00,000 �,�00,000 �,��0,��� (���,���)Tra�ler parks ��0,000 ��0,000 ���,��� �,���Hotel tax ���,000 ���,000 ���,��� ��,���Franch�se tax �,�00,000 �,�00,000 �,���,0�0 ��,0�0
Total Other Local Taxes ��,���,��� ��,���,000 ��,���,00� (��0,���)
Shared State TaxesH�ghway user revenue ���,�00 ���,�00 ���,��� (��,���)
Total State Shared Taxes ���,�00 ���,�00 ���,��� (��,���)
Total Taxes ���,���,��0 ���,�0�,��� ���,���,��� (���,���)
L�censes and Perm�tsBus�ness L�censes and Perm�ts
Bu�lders' l�censes ��,000 ��,000 ��,��� �,���Beer, w�ne, and l�quor l�censes �0�,000 �0�,000 ���,��� ��,���Traders ��,000 ��,000 ��,��� �,���Hawkers and peddlers �,000 �,000 �,��� ���
Total Bus�ness L�censes and Perm�ts ���,000 ���,000 ���,��� ��,���
Other Perm�tsAn�mal l�censes �0,000 �0,000 ��,��� �,���Code book sales �00 �00 �,��� ���Marr�age l�censes �,�00 �,�00 �,��� ���Gambl�ng perm�ts ��,000 ��,000 ��,��0 ��,��0
Total Other Perm�ts ��,�00 ��,�00 ��,�0� �0,�0�
Total L�censes and Perm�ts ���,�00 ���,�00 �0�,��� �0,���
Intergovernmental RevenueFederal Grants Federal Emergency Management ��,�0� ��,�0� ��,��� (��,��0) F.E.M.A. re�mbursement - �,000,��� �,000,��� - Bu�ld Amer�ca Bond Subs�dy ��0,��� ��0,��� ��0,��� - Federal Detent�on per d�em �0,��� �0,��� �0,��� ���
Total Federal Grants ���,��� �,���,��0 �,���,��� (��,���)
State Grants Pol�ce Protect�on - state ��0,000 ��0,000 ��0,�00 �0,�00 L�brary - state ���,000 ���,000 ���,�0� (���) So�l Conservat�on - state ��,��� ��,��� ��,��� - Pr�soner Hous�ng - state �0,000 �0,000 ���,��0 ��,��0 Mosqu�to Control - state �0,000 �0,000 ��,��0 �,��0 Jury re�mbursement - state �0,000 �0,000 ��,��0 (�,0�0) Core Serv�ce re�mbursement - state - ���,��� ���,��� ��� State re�mbursement - - �0,��� �0,��� Other state re�mbursement - �,��� �,��� (�,���)
Total State Grants �,0��,��� �,���,��� �,���,�0� �0�,���
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
SCHEDULE OF REVENUE AND OTHER FINANCING SOURCES -BUDGET AND ACTUAL (BUDGETARY BASIS) - GENERAL FUND
FOR THE YEAR ENDED JUNE 30, 2012
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VarianceBudgeted Amounts Over
Original Final Actual (Under)
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
SCHEDULE OF REVENUE AND OTHER FINANCING SOURCES -BUDGET AND ACTUAL (BUDGETARY BASIS) - GENERAL FUND
FOR THE YEAR ENDED JUNE 30, 2012
Other Intergovernmental ��� Grant ��0,000$ ��0,000$ ���,���$ (��,���)$ Shore Eros�on ��,��� ��,��� ��,��� - Hous�ng Author�ty �,���,��� �,���,��� �,���,��� (�,���) Caasa payroll re�mbursement - ��,000 �,��� (�,���) CMM payroll re�mbursement - CMM Board of Governors ��0,000 ���,��� ���,�0� (��,���) CMM payroll re�mbursement - CMM Soc�ety ��0,000 ���,��� ���,��� (��,���)
Total Other Intergovernmental �,�0�,��� �,���,0�� �,���,��� (��,0��)
Total Intergovernmental Revenues �,���,��� �,���,��� �,���,0�� (�,���)
Charges for serv�cesPubl�c Safety
Sher�ff's fees ��,000 ��,000 �0,��� �,���Chesapeake Beach pol�ce re�mbursement ���,��� ���,��� ���,��� -North Beach pol�ce re�mbursement ��0,��� ��0,��� ��0,��� -Dom�n�on pol�ce re�mbursement �,��0,000 �,���,��� �,���,��� (��,���)Lab fees ��,000 ��,000 ��,0�� (�,�0�)Eng�neer�ng �nspect�ons �00,000 �00,000 ��,�00 (��,�00)DWI fac�l�ty - �,��� �,��0 (�,���)Electron�c mon�tor - Detent�on Center ��,000 ��,000 ��,��� (��,���)Telephone comm�ss�on - Detent�on Center ���,000 ���,000 �0�,��� (��0,���)Room and board - Detent�on Center �0,000 �0,000 ��,��� (��,���)S�ck call - Detent�on Center �,000 �,000 �,��0 (�,��0)False alarm fees �,000 �,000 ��0 (�,��0)False alarm reg�strat�on �,�00 �,�00 �,��0 �,��0Protect�ve �nspect�ons ��0,000 ��0,000 ���,�00 ��,�00Publ�c safety tower �0,000 �0,000 ��,��� �,���
Total Publ�c Safety �,���,��� �,���,��� �,���,��� (���,���)
General Serv�cesWaterman's Wharf �,�00 �,�00 �,��� (���)Tenn�son charters �0,000 �0,000 ��,0�� (�,���)Flag Pond entrance fees �0,000 �0,000 ��,��� �,���Boat ramp fees �,000 �,000 �,��0 �,��0K�ngs Land�ng camp fees �0,000 �0,000 ��,��� �,���P&R self-susta�ned program ��,000 ��,000 - (��,000)
Total General Serv�ces ���,�00 ���,�00 ���,��� (�,���)
Publ�c WorksRoad tax d�str�cts �0,��� �0,��� ��,��� �,���Developer street s�gns �00 �00 - (�00)Ut�l�ty perm�t fee - - ��,��0 ��,��0Waterway �mprovements �,��0 �,��0 �,��� �
Total Publ�c Works ��,��� ��,��� ��,��� ��,0��
Commun�ty ResourcesL�brary - other sources - ��,��0 ��,��0 -L�brary - e-rate �,000 �,000 �,��� (�,���)L�brary - other m�scellaneous - ��,�00 ��,��� �,���L�brary - copy�ng and m�scellaneous ��,�00 ��,000 ��,��� �,���Off�ce on Ag�ng - bus tr�p revenue ��,��� ��,��� ��,0�� (�,���)Off�ce on Ag�ng - ceram�cs program revenue �,��� �,��� �,��0 (�,���)Off�ce on Ag�ng - sen�or class revenue �0,��� �0,��� ��,��� (�,��0)
Total Commun�ty Resources ��0,��� ���,��� ���,��� (�,���)
Other Charges for Serv�cesAdm�n�strat�on fees sem�-annual serv�ce charges �0,000 �0,000 ��,��0 (��,��0)Rents and concess�ons �0,000 �0,000 ��,�0� (��,���)Concrete Plant rent ��,000 ��,000 ��,00� (��,���)Map sales �00 �00 ��0 (��0)
Total Other Charges for Serv�ces ���,�00 ���,�00 ��,��� (��,���)
Total Charges for Serv�ces �,���,�0� �,���,��� �,���,��� (���,���)
-��-
VarianceBudgeted Amounts Over
Original Final Actual (Under)
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
SCHEDULE OF REVENUE AND OTHER FINANCING SOURCES -BUDGET AND ACTUAL (BUDGETARY BASIS) - GENERAL FUND
FOR THE YEAR ENDED JUNE 30, 2012
F�nes, fees, and Forfe�turesGeneral Government
So�l Conservat�on grad�ng fees �0,000$ �0,000$ ��,��0$ ��,��0$Replant�ng fees - Plann�ng & Zon�ng �,000 �,000 �,��� ���Plann�ng and Zon�ng tower fees �00 �00 �,��0 ��0Board of Appeals appl�cat�on fees �0,000 �0,000 ��,��� (�,���)Adm�n�strat�on plant�ng bond �,�00 �,��� �� (�,�00)Small lot clear�ng fees �00 �00 - (�00)
Total General Government ��,�00 ��,��� ��,0�� �,�0�
Other F�nes, Fees, and Forfe�turesDomest�c master fees �00 �00 ��� (��)Commun�ty serv�ce programs ��,000 ��,000 ��,��� �,���Cr�m�nal court f�nes �,000 �,000 �,��� (�,0��)Home study fees �,000 �,000 �,��� �,���An�mal c�tat�on f�nes ��,000 ��,000 �,�00 (�,�00)State's attorney fees - �,��� �,0�� �,���Forfe�ture - State's attorney ��,000 �0,��� �0,��� -Forfe�ture - sher�ff operat�ng - ��,��� ��,��� -Adm�n�strat�on fee - Grant Coord�nator ��0,000 ��0,000 ���,��� (��,���)F�l�ng fees Elect�on Off�ce ��0 ��0 ��� (��)Auto l�cense fees �,�00 �,�00 �,�0� (���)L�brary f�nes ���,000 ���,000 ���,��� (�,0��)Zon�ng fees �0,000 �0,000 ��,��0 (�,��0)
Total Other F�nes, Fees, and Forfe�tures ���,��0 ���,��� ���,��� (��,0��)
Total F�nes, Fees, and Forfe�tures ���,��0 ���,��� ���,��� (��,���)
Investment RevenueInterest and d�v�dends ��0,000 ��0,000 ���,��� (���,���)Interest on notes - - �,��� �,���Apprec�at�on of �nvestment - - (�,���) (�,���)
Total Investment Revenue ��0,000 ��0,000 ���,��� (���,���)
Re�mbursementsSalary re�mbursement ��,000 ��,��� ��,��� (�,��0)Battle Creek PR re�mbursement �,��� �,��� �,0�0 �,�0�General �nsurance re�mbursement - ���,��� ���,��� ���,���Heath �nsurance re�mbursement - - ���,��� ���,���C�rcu�t ct. clerks off�ce re�mbursements - - �,��� �,���
Total Re�mbursements ��,��� �0�,��� ���,��� ���,���
Other RevenueBalance from pr�or year fund balance �0,000 �,�0�,��� - (�,�0�,���)Pr�vate contr�but�ons - �,��� �,��� -Pr�vate contr�but�ons econ development - ��,��0 ��,��0 -M�scellaneous �ncome ���,��� ��0,��� ���,��0 ��,���
Total Other Revenue ���,��� �,���,��� �0�,��� (�,0��,���)
Total Revenue ���,���,��� ��0,���,��� ���,�0�,��� (�,���,��0)
Other f�nanc�ng sourcesTransfer from Board of Educat�on - Res�dent Trooper ���,��� ���,��� ���,��� -Transfer from Board of Educat�on - Sher�ffs Off�ce - �00,000 �00,000 -Transfer from BOE w�reless �0,000 �0,000 �0,000 -Transfer from BOE for OPEB �,�00,000 �,��0,��� �,��0,��� -Transfer from Exc�se Tax Fund �,000,000 �,000,000 - (�,000,000)
Total Other F�nanc�ng Sources �,���,��� �0,0��,��� �,0��,��� (�,000,000)
Total Revenue and Other F�nanc�ng Sources ���,0��,���$ ��0,���,���$ ���,���,0��$ (�,���,��0)$
-��-
Variance(Over)
Original Final Actual UnderGeneral Government
County Comm�ss�oners
Salar�es ���,0��$ ���,0��$ ���,���$ �,���$Operat�ng expense ��,��� ��,�0� ��,0�� (���)Contracted serv�ces �00 �,�00 �,��� (���)
Total County Comm�ss�oners ���,��0 �0�,��� �0�,��� �0�
Clerk to Comm�ss�onersSalar�es �0,��� ��,��� ��,��� (�,���)Operat�ng expense �,��� �,��� ��� �,�0�Contracted serv�ces ��� ��� - ���
Total Clerk to Comm�ss�oners ��,��� ��,��� ��,��� (�,���)
County Adm�n�stratorSalar�es ���,��� ���,��� ���,��� �,���Operat�ng expense ��,�0� ��,�0� ��,��� �,0��Contracted serv�ces ��,�0� ��,�0� ��,��� ���
Total County Adm�n�strator ���,�0� ���,�0� ���,��� �,���
Technology Serv�cesSalar�es �,���,��� �,���,��� �,���,��� (�,���)Operat�ng expense ���,��� ���,��� ���,��� �,��0Contracted serv�ces ���,��� ���,��� ���,��� �0,���Cap�tal outlay ���,0�� ���,0�� ��0,0�� �0,���
Total Technology Serv�ces �,���,��� �,���,��� �,���,��� ��,�0�
C�rcu�t CourtSalar�es �0�,��� ���,��� ���,��� (��,���)Operat�ng expense ��,��0 ��,��0 �0,0�� �,0��Contracted serv�ces ��,��� ��,��� ��,��� �,0��Cap�tal outlay ��,��0 ��,��� ��,��� ��,���
Total C�rcu�t Court ���,��� �0�,��� ���,��� �,���
Orphans' CourtSalar�es ��,��0 ��,��0 ��,��� (�0�)Operat�ng expense �,0�0 �,0�0 ��0 �,��0
Total Orphans' Court ��,��0 ��,��0 ��,�0� �,���
State's AttorneySalar�es �,���,��� �,���,��� �,�00,0�� (��,���)Operat�ng expense ��,��� ��,��� ��,��� ��,���Contracted serv�ces ��,�00 ��,��� ��,��� ���Cap�tal outlay ��,000 ��,��� ��,��� �
Total State's Attorney �,���,��0 �,���,��� �,���,��� (���)
Grand JurySalary and operat�ng expense �,000 �,000 �,��0 (��0).
PersonnelSalar�es ���,��� �0�,��� ��0,�0� (�,��0)Operat�ng expense �0,��� ��,��� ��,��� ��,��0Tu�t�on program ��,000 ��,000 ��,��0 �,��0Contracted serv�ces ��,��� ��,��� ��,��� �,���Cap�tal outlay �,�00 �,��� �,��0 ��
Total Personnel ��0,�0� �00,��� ���,�0� ��,���
Budgeted Amount
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES -BUDGET AND ACTUAL (BUDGETARY BASIS) - GENERAL FUND
FOR THE YEAR ENDED JUNE 30, 2012
-��-
Variance(Over)
Original Final Actual UnderBudgeted Amount
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES -BUDGET AND ACTUAL (BUDGETARY BASIS) - GENERAL FUND
FOR THE YEAR ENDED JUNE 30, 2012
Elect�onsSalar�es �0�,���$ �0�,���$ �0�,���$ �,���$Operat�ng expense ��,��� ��,��� ��,��� ��,���Contracted serv�ces ���,��� ���,��� ��,�0� ��,���Elect�on judges ��,�00 ��,�00 ��,��� �,���Cap�tal outlay �00 ��� ��� -
Total Elect�ons ���,��� ���,��� ���,0�� ��,0��
F�nance and BudgetSalar�es �,���,��� �,��0,��� �,���,��0 (�,���)Operat�ng expense ��,0�� ��,��� ��,��� �,�00Contracted serv�ces ���,��� ���,��� ���,��� ��,���Cap�tal outlay �,��0 �,��0 �,��� �0�
Total F�nance and Budget �,���,�00 �,���,��� �,���,��� ��,���
TreasurySalar�es �0�,��� ���,��� ���,��0 (�,�0�)Operat�ng expense ��,��� ��,��0 ��,��0 ��,��0Contracted serv�ces ��,��0 �0,��� �0,��� ��
Total Treasury ���,��� ���,��0 ���,�0� ��,���
Independent Account�ng and Aud�t�ng ��,��� ��,��� ��,0�� �,�00
County AttorneySalar�es ���,��� �0�,��� ���,��� �,���Operat�ng expense ��,��� �0,��� ��,��0 �,���Contracted serv�ces ��,000 ��,��� �0,��� ��,���Cap�tal outlay - ��� ��� -
Total County Attorney ���,�00 ��0,�00 ���,�0� ��,���
Plann�ng and Zon�ngSalar�es �,0��,��� �,0��,��� �,0��,0�� �,���Operat�ng expense ��,��� ��,��� ��,��� �,���Contracted serv�ces ��,��� ��,��� ��,��� -Cap�tal outlay ��,�00 ��,��� ��,��� (�,���)
Total Plann�ng and Zon�ng �,���,��� �,���,��� �,���,��� �,���
General Serv�cesSalar�es ���,��� ���,��� ���,��� (�,���)Operat�ng expense �,��� �,��� �,��0 �,�0�Cap�tal outlay - ��� ��� �
Total General Serv�ces ���,��� ���,��� ���,��0 (�,0��)
Bu�ld�ngs and GroundsSalar�es �,�0�,��� �,���,��� �,��0,��� (��,���)Operat�ng expense ���,��� �,���,��0 �,0��,�0� ���,���Ut�l�t�es �,���,��� �,���,��� ���,��� ��0,���Ma�ntenance and repa�r projects ���,��� ���,��� ���,��� ���,���Contracted serv�ces ���,��� ���,��� ���,��� ��,���Cap�tal outlay ���,000 ���,000 �0�,0�� �0,���
Total Bu�ld�ngs and Grounds �,���,��� �,���,��� �,���,��� ���,0��
-��-
Variance(Over)
Original Final Actual UnderBudgeted Amount
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES -BUDGET AND ACTUAL (BUDGETARY BASIS) - GENERAL FUND
FOR THE YEAR ENDED JUNE 30, 2012
Other General GovernmentMaryland Assoc�at�on of Count�es ��,000$ ��,000$ ��,���$ ��$Comm�ss�on for Women �,��� �,��� �,��� �,���Env�ronmental Comm�ss�on �,�00 �,�00 �,�0� ���MD State Dept. of Assessments ��0,000 ��0,��� ���,�0� (��0)Non-county agenc�es �,���,��� �,0�0,��� �,0��,��� ��,���
Total Other General Government �,���,�0� �,���,��� �,���,��� ��,���
Total General Government ��,���,��� ��,���,��� ��,���,��� ���,���
Public SafetyPubl�c Safety
Salar�es ���,�0� ��0,��� ���,��� (�,���)Operat�ng expense �0,��0 ��,��� ��,��� ��,���Contracted serv�ces �,�00 �,000 �,�0� ���
Total Publ�c Safety ���,0�� �0�,��� ���,��� ��,���
Transportat�on Ch�efSalar�es ���,��� ���,��� ���,��� (�,�00)Operat�ng expense ��,��� ��,��� ��,0�� �,���Transportat�on subs�dy ��,000 ��,000 ��,��� �0,���Contracted serv�ces ��,000 ��,��� ��,�0� (���)
Total Transportat�on Ch�ef ���,��� �0�,��� ���,��� ��,���
Sher�ff's Off�ceSalar�es �,���,��� �,���,��� �,���,��� (���,���)Operat�ng expense ��0,��� �,���,��� �,��0,��� ��,���Veh�cle suppl�es and repa�rs ���,��� �0�,��� ���,��� �,0��Contracted serv�ces ��,��� �0�,��� ��,��� �,���Cap�tal outlay ���,��� ���,��0 ���,��� �,00�
Total Sher�ff's Off�ce ��,���,�0� ��,���,��� ��,���,��� (���,�00)
Control CenterSalar�es �,���,0�� �,���,��� �,���,��� ��0,0��Operat�ng expense ���,0�� ���,0�� ���,��� ��,��0Rad�o ma�ntenance ���,��� ���,��� ���,��� ��,���Contracted serv�ces ���,��0 ���,��0 �0�,��� �,���Cap�tal outlay ��,��� ��,��� ��,��� �,�0�
Total Control Center �,�0�,��� �,���,��� �,���,��� ���,���
Res�dent Trooper Program ���,��� ���,��0 ���,��0 -
Volunteer F�re Compan�es & Rescue SquadsOperat�ng expense �,0��,0�� �,���,��� �,�0�,��� ��,���Insurance ���,��0 ���,��0 ���,��� �0,���Cap�tal outlay ���,000 ���,000 ���,��� �,���
Total Volunteer F�re Compan�es & Rescue Squads �,���,��� �,0��,��� �,���,��� ���,0��
Detent�on CenterSalar�es �,0��,��0 �,0�0,0�� �,���,��0 (�0�,���)Operat�ng expense ���,��� ���,��� ���,��� ��,���Ut�l�t�es ���,��� ���,��� ���,��� (��,���)Inmate care �0�,0�� ���,��� ���,��� �,��0Food ��0,��� ��0,��� ��0,��� ��,�0�Contracted serv�ces ���,��� ���,��� ���,�00 �0,���Cap�tal outlay ��,��0 ��,��0 ��,��� ��,���
Total Detent�on Center �,���,�00 �,�0�,��� �,0��,��� ��,���
-��-
Variance(Over)
Original Final Actual UnderBudgeted Amount
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES -BUDGET AND ACTUAL (BUDGETARY BASIS) - GENERAL FUND
FOR THE YEAR ENDED JUNE 30, 2012
Inspect�ons and Perm�tsSalar�es ���,0��$ ���,0��$ ��0,���$ (�,0��)$Operat�ng expense ��,��� ��,��� ��,��� �,���Veh�cle suppl�es and repa�r �,��� �,��� �,��� (���)Contracted serv�ces ��,�00 ��,�00 ��,�00 -Cap�tal outlay �,�00 �,�00 �,��0 �,��0
Total Inspect�ons and Perm�ts ���,0�� ���,0�� ���,��� �,�0�
Res�dent�al Substance Abuse TreatmentContracted serv�ces ���,��0 ���,��0 ���,��� �,0��
Total Res�dent�al Substance Abuse Treatment ���,��0 ���,��0 ���,��� �,0��
Emergency ManagementSalar�es ���,��� ���,��� ��0,��� ��,���Operat�ng expense ��,��� ��,��� ��,��� �,���Contracted serv�ces ��,��� ��,��� ��,�00 �,���
Total Emergency Management ���,��� ���,��� ��0,��� ��,���
L�quor BoardSalar�es ��,��0 ��,��0 ��,��� �,���Operat�ng expense �00 �00 ��� ���Contracted serv�ces ��,000 ��,000 ��,��� �,���
Total L�quor Board �0,��0 �0,��0 ��,��� �,0��
F�re, Rescue, and Emergency Serv�cesSalar�es ���,��� ���,��� ���,��0 (�,���)Operat�ng expense ���,��� ���,��� ���,��� ��,0��Contracted serv�ces ��,��0 ��,��0 ��,0�� �,���Cap�tal outlay - ��� ��0 (�)
Total F�re, Rescue, and Emergency Serv�ces ���,��� ��0,��� ���,��� ��,���
An�mal ControlSalar�es ���,��0 ���,��� ���,��� �,��0Operat�ng expense ��,��� ��,��� ��,�0� ��,���Veh�cle suppl�es and repa�rs ��,000 ��,000 �,��� �,���Contracted serv�ces ��0,��0 ��0,��0 ���,��� ��,���Cap�tal outlay ��,000 ��,��� ��,��� ��,���
Total An�mal Control ���,��� ���,��� ���,��� ��,���
Total Public Safety ��,���,��� ��,�0�,��� ��,�0�,��� �00,���
Public WorksEng�neer�ng Serv�ces
Salar�es �,���,��� �,���,��� �,0��,��� ��,���Operat�ng expense ��,��� �0�,��0 �0�,0�� �,���Contracted serv�ces ��,��� ��,��� ��,��� ���Cap�tal outlay - ��� �00 ���
Total Eng�neer�ng Serv�ces �,���,�0� �,���,��� �,���,�0� �0�,���
H�ghway L�ght�ngOperat�ng expense ���,��0 ���,��0 ���,��� �,���
-��-
Variance(Over)
Original Final Actual UnderBudgeted Amount
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES -BUDGET AND ACTUAL (BUDGETARY BASIS) - GENERAL FUND
FOR THE YEAR ENDED JUNE 30, 2012
H�ghway Ma�ntenanceSalar�es �,��0,0��$ �,���,���$ �,���,��0$ ���,�0�$Operat�ng expense ��,��� ���,��� �0�,��� �,���Veh�cle suppl�es and repa�rs ���,��� ���,��� ���,��� (�0�)Ut�l�t�es ��,��� ��,��� ��,��� �,���Road ma�ntenance and repa�rs �0�,��0 ���,��� ���,��0 �0�,���Pav�ng �,���,��� �,���,��� �,���,��� -Snow removal contractors ���,��0 ��,�0� ��,�0� (�0�)Rental serv�ce contract ���,000 ���,��� ���,��� -Contracted serv�ces ���,00� ���,0�� ���,��� ��,���Cap�tal outlay ���,000 ���,��0 ��0,��� �,���
Total H�ghway Ma�ntenance �,��0,��0 �,���,��� �,0��,�0� ���,0��
Fleet Ma�ntenanceSalar�es ���,0�� ���,��� ���,��� (�,���)Operat�ng expense ��,��� ��,��� ��,��� �,���Veh�cle suppl�es and repa�rs ��,��0 ��,��0 (��,0��) ���,���Ut�l�t�es ��,��� ��,��� ��,��� (�,���)Contracted serv�ces ��,�00 ��,��� ��,��0 �0�Cap�tal outlay - �0,��� ��,��� �,�0�
Total Fleet Ma�ntenance ���,��� ���,�0� ���,��� ��0,���
Project Management and Inspect�onsSalar�es ���,0�� ���,��� ���,��0 �,0��Operat�ng expense ��,��� �0,��0 ��,0�� (�,���)Veh�cle suppl�es and repa�rs ��,��0 �,��� �,��0 ���
Total Project Management and Inspect�ons ��0,��� �0�,��� �0�,��� (��0)
Total Public Works �,���,��� �0,�0�,��� �,���,��� ���,���
Health and HospitalsHealth Department
Salar�es - �0�,��0 �0�,��� (���)Operat�ng expense �,���,��� �,���,��� �,���,0�� (���)
Total Health Department �,���,��� �,���,��� �,���,��� (�,���)
Mosqu�to ControlSalar�es ���,�0� ���,�0� ���,��� ��,���Operat�ng expense ��,��� �0,��� ��,��� �,���Chem�cals ��,000 ��,000 ��,��� ���Contracted serv�ces ��,�00 �,�00 �,��� �,���Cap�tal outlay ��,�0� ��,�0� �0,��0 ���
Total Mosqu�to Control ���,��� ���,��� ���,��� �0,��0
Total Health and Hospitals �,���,��� �,���,��� �,���,��� ��,�0�
Social ServicesCommun�ty Resources
Salar�es ���,0�� �0�,��� �0�,��� (�,0��)Operat�ng expense ��,��� ��,��� ��,��� �,���Contracted serv�ces �,��� �,��� ��0 �,���
Total Commun�ty Resources ���,��0 ���,��0 ���,��� �,���
-��-
Variance(Over)
Original Final Actual UnderBudgeted Amount
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES -BUDGET AND ACTUAL (BUDGETARY BASIS) - GENERAL FUND
FOR THE YEAR ENDED JUNE 30, 2012
Department of Soc�al Serv�cesCounty contr�but�on ��,���$ ��,���$ ��,���$ -$
Pauper's Bur�al �,000 �,000 - �,000
Off�ce on Ag�ngSalar�es �,���,��� �,���,��� �,���,��� ��,���Operat�ng expense ��,0�� �0�,��� ��,��� ��,���Contracted serv�ces �0,��� �0,��� ��,�0� �,��0Cap�tal outlay - �,��� �,��� -
Total Off�ce on Ag�ng �,���,�0� �,���,�0� �,���,0�� �0,���
Total Social Services �,��0,��� �,�0�,��� �,���,��0 ��,���
EducationCollege of Southern Maryland �,���,��� �,�0�,��� �,�0�,��� -Board of Educat�on �0�,0��,��� �0�,0��,��� �0�,0��,��� -
Total Education ���,���,��� ���,���,��� ���,���,��� -
Recreation and CultureParks and Recreat�on
Salar�es �,���,��0 �,��0,��� �,��0,��0 ���,�0�Operat�ng expense ���,0�� ���,��� ���,��0 ��,���Ut�l�t�es ��0,��� ��0,��� ���,��0 �,���Ma�ntenance and repa�r projects ��,000 ��,�00 ��,��� �,���Contracted serv�ces ��,000 �0,��� ��,��� ��,���Cap�tal outlay ��,000 ���,��0 ���,��� ���
Total Parks and Recreat�on �,���,00� �,���,��� �,���,��� ���,���
Ra�lway MuseumSalar�es ��,�0� ��,�0� �0�,��� (�,0��)Operat�ng expense �0,��� �0,��0 �0,��� (�)Ut�l�t�es �,��� �,��� �,��� ���Contracted serv�ces ��,0�� ��,��� ��,��� �00Cap�tal outlay �,000 - - -
Total Ra�lway Museum ���,��0 ���,��0 ���,��0 (�,��0)
Mar�ne MuseumSalar�es �,���,0�� �,0��,0�0 �,0��,��� (��,���)Operat�ng expense ���,��� ���,��� �0�,��� ��,�0�Ut�l�t�es ��0,��� ���,0�� ���,0�� ��,0��Ma�ntenance and repa�r projects ��,��� ��,��� ��,��� ���Contracted serv�ces ��,�0� ��,��0 ��,��� �,0��Cap�tal outlay ��,��� ��,��� ��,��� ���
Total Mar�ne Museum �,���,��� �,���,��� �,���,��� (�,���)
Publ�c L�brar�esSalar�es - �,���,��� �,���,��� ��,���Operat�ng expense �,���,��� �,���,0�� �,��0,��� ��,���Contracted serv�ces - �0,��� �0,��� -Cap�tal outlay - ��,��0 ��,��0 -
Total Publ�c L�brar�es �,���,��� �,�0�,0�� �,���,�0� �0,���
-��-
Variance(Over)
Original Final Actual UnderBudgeted Amount
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES -BUDGET AND ACTUAL (BUDGETARY BASIS) - GENERAL FUND
FOR THE YEAR ENDED JUNE 30, 2012
Natural Resources D�v�s�onSalar�es ���,���$ ���,��0$ ���,���$ (��,���)$Operat�ng expense ��,��� ��,��� ��,��0 ��,���Ut�l�t�es ��,��� ��,��� ��,�00 �,���Ma�ntenance and repa�r projects �,�00 �,�00 �,��� �,���Contracted serv�ces �,��� ��,��� ��,�00 �,���Cap�tal outlay - �0,000 ��,��� �,���
Total Natural Resources D�v�s�on ���,0�� ���,��� ���,��� (��,���)
Total Recreation and Culture �0,���,��� �0,���,��� �0,�0�,��� ��0,���
Conservation of Natural ResourcesAgr�cultural Extens�on Serv�ce
Operat�ng expense ��,��� ��,��� ��,��� �,���Total Agr�cultural Extens�on Serv�ce ��,��� ��,��� ��,��� �,���
So�l Conservat�on Serv�ceSalar�es ��0,�0� ���,�0� ���,��� (�,���)Operat�ng expense �,��� �,��� �,�0� (��)
Total So�l Conservat�on Serv�ce ���,��� ���,��� �0�,��� (�,���)
ForestryOperat�ng expense �0,��� �0,��� �0,��� -
Total Conservation of Natural Resources �00,��� �0�,��� �0�,��0 (�,0��)
Urban Development and HousingHous�ng
Salar�es ���,��� ���,00� ���,��� �,�0�Total Hous�ng ���,��� ���,00� ���,��� �,�0�
H�stor�cal D�str�ct Comm�ss�onSalar�es �,��� �,��� �,��� (��)Operat�ng expense �,��� �,��� �,��� �,���Contracted serv�ces �,��� �,��� �,��� �
Total H�stor�cal D�str�ct Comm�ss�on ��,��� ��,�0� ��,��� �,���
Board of AppealsSalar�es ���,��� ���,��� ���,��� (���)Operat�ng expense ��,�00 ��,��0 ��,��� ��,���Contracted serv�ces ��,000 ��,000 �0,��� �,���Honorar�um ��,000 �,0�0 ��� ���
Total Board of Appeals ���,��� ���,��� ���,��� ��,��0
Plann�ng Comm�ss�onSalar�es ���,��� ���,��� ���,0�� (��,��0)Operat�ng expense ��,000 ��,��� ��,��� �,���Contracted serv�ces ��,��0 ��,��0 ��,��� �,0��Honorar�um ��,000 ��,000 ��,�00 �,�00
Total Plann�ng Comm�ss�on ��0,��� ���,0�� ���,��0 �,���
Affordable Hous�ngOperat�ng expense �0,000 �0,000 �,�0� �0,���
Total Affordable Hous�ng �0,000 �0,000 �,�0� �0,���
Total Urban Development and Housing �,���,�00 �,���,��� �,���,��� ��,���
-�0-
Variance(Over)
Original Final Actual UnderBudgeted Amount
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES -BUDGET AND ACTUAL (BUDGETARY BASIS) - GENERAL FUND
FOR THE YEAR ENDED JUNE 30, 2012
Economic DevelopmentEDA/EDC/Tour�sm
Salar�es ���,���$ ���,�0�$ ���,���$ ��,�0�$Operat�ng expense ���,��0 ���,��� ���,0�� ��,���Advert�s�ng ���,��� ���,�0� ���,�0� ��,���Chamber of Commerce �0�,��� �0�,��� �00,��� �,���Small Bus�ness Development Center �0,�00 �0,�00 �0,�00 -Contracted serv�ces �0,�00 �0�,��� �0�,��� �,���Cap�tal outlay �,��0 ��� ��� -
Total Econom�c Development �,���,0�� �,���,��� �,���,��� ���,��0
Pension and InsurancePens�on contr�but�on �,���,��� �,���,��� �,���,��� ��,���Workmen's' compensat�on �,�0�,��� �,�0�,��� �0�,��� �0�,���General �nsurance ���,��� �0�,000 ���,��� ���,���Health �nsurance �,���,��� �,���,��� �,���,��� (���,���)Other post employment benef�ts (OPEB) �00,000 �,�00,000 �,�00,000 -Other post employment benef�ts - BOE �,�00,000 �,��0,��� �,��0,��� -Cont�ngency �00,000 ���,��� - ���,���
Total Pens�on and Insurance ��,0��,��� ��,���,��� ��,���,��� �0�,0��
Debt serviceBond pr�nc�pal ret�rement
General obl�gat�ons ��,��0,��� �0,���,�0� �0,���,��� (�0)
Bond �nterestGeneral obl�gat�ons �,���,��� �,���,��� �,���,��� -
Bond expenseDebt refund�ng expense - ���,�0� ���,�0� (��,�0�)
Total Debt Serv�ce ��,���,�0� ��,0��,��� ��,0�0,��0 (��,���)
Total expenditures ���,�0�,��� ���,���,��0 ��0,���,�0� �,���,�0�
Other financing usesOperat�ng transfers out
Cap�tal Projects Fund �,���,000 �,���,�00 �,���,�00 -Transfer to Grants Fund �,��0,��� �,���,��0 �,���,��0 ���,��0Transfer to P&R Self-Susta�n�ng �0�,0�� �0�,��� �0�,��� -Transfer to Land Preservat�on ���,000 ���,000 ���,000 -Transfer to Chesapeake H�lls Golf Course ��0,�00 ���,0�� ���,0�� -Transfer to Water and Sewer - ��,��� ��,��� -Transfer to Sol�d Waste �0,000 ���,��� ���,��� -
Total other f�nanc�ng uses �,���,�0� �,�0�,�0� �,���,��� ���,��0
Total expenditures and other financing uses ���,0��,���$ ��0,���,���$ ���,0��,���$ �,���,���$
COUNTY COMMISSIONERS OF CALVERT COUNTYCALVERT COUNTY, MARYLAND
NONMAJOR FUNDS & OTHER SCHEDULESJUNE �0, �0��
-��-
Planning Economicand Zoning Development
Parks and Special AuthorityRecreation Revenue Bar Library Revolving Loan Revolving
Fund Fund Fund Fund Loan Fund
ASSETSCash, cash equ�valents and �nvestments ��,���$ -$ -$ -$ -$Taxes rece�vable - - - - -Accounts rece�vable �,��� ��,000 - - ��,�0�Accrued �nterest rece�vable - - - - -Due from other funds �,���,�0� ���,��� ��,��� ��,�00 ���,���Inventory ��,��� - - - -Total assets �,���,�0�$ ���,���$ ��,���$ ��,�00$ ���,���$
LIABILITIESVouchers and accounts payable ���,��� ��0,��� �0,0�� - -Notes payable �0�,�00 - - - -Due to other funds - - - - -Due to component un�ts - - - - -Deferred revenue ��0,��0 - - - -
Total l�ab�l�t�es ���,��� ��0,��� �0,0�� - -
FUND BALANCESNonspendable - - - - -Restr�cted �,��0 - - -Comm�tted �,���,��� ��,��� ��,��� ��,�00 ���,���Ass�gned - - - - -Unass�gned - - - - -
Total fund balances �,�00,��� ��,��� ��,��� ��,�00 ���,���
Total l�ab�l�t�es and fund balances �,���,�0�$ ���,���$ ��,���$ ��,�00$ ���,���$
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
COMBINING BALANCE SHEETNONMAJOR GOVERNMENTAL FUNDS
JUNE 30, 2012
Board ofEconomic Library
Calvert Co. Development Land Trustee forFamily Grants Incentive Excise Tax Preservation Calvert
Network Fund Fund Fund Fund County Total
-$ -$ -$ -$ �0,���,���$ ��,���$ �0,���,���$- - - ���,��� - - ���,���
���,�0� �,���,��� ���,��� - �� - �,���,���- - - - - - -- ��,��� ���,��� �,0��,��� - - �,���,���- - - - - - ��,���
���,�0�$ �,���,���$ �0�,���$ �,���,���$ �0,���,���$ ��,���$ ��,���,���$
��,��� ���,��� - - - - �,���,���- - - - - - �0�,�00
��,��� - - - �,���,��� - �,���,��0��,��� - - - - - ��,�����,��� �0�,��� - ��0,�0� - - �,���,���
���,�0� �,0��,0�� - ��0,�0� �,���,��� - �,��0,��0
- - - - �,��0,0�� - �,��0,0��- ���,��� - - �,��0,�0� - �,���,���- - �0�,��� �,0��,��� - - �,0��,0��- - - - - ��,��� ��,���- - - - - - -- ���,��� �0�,��� �,0��,��� �,��0,��� ��,��� ��,��0,���
���,�0�$ �,���,���$ �0�,���$ �,���,���$ �0,���,���$ ��,���$ ��,���,���$
JUNE 30, 2012
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
COMBINING BALANCE SHEETNONMAJOR GOVERNMENTAL FUNDS
-��-
Board ofEconomic Library
Calvert Co. Development Land Trustee forFamily Grants Incentive Excise Tax Preservation Calvert
Network Fund Fund Fund Fund County Total
-$ -$ -$ -$ �0,���,���$ ��,���$ �0,���,���$- - - ���,��� - - ���,���
���,�0� �,���,��� ���,��� - �� - �,���,���- - - - - - -- ��,��� ���,��� �,0��,��� - - �,���,���- - - - - - ��,���
���,�0�$ �,���,���$ �0�,���$ �,���,���$ �0,���,���$ ��,���$ ��,���,���$
��,��� ���,��� - - - - �,���,���- - - - - - �0�,�00
��,��� - - - �,���,��� - �,���,��0��,��� - - - - - ��,�����,��� �0�,��� - ��0,�0� - - �,���,���
���,�0� �,0��,0�� - ��0,�0� �,���,��� - �,��0,��0
- - - - �,��0,0�� - �,��0,0��- ���,��� - - �,��0,�0� - �,���,���- - �0�,��� �,0��,��� - - �,0��,0��- - - - - ��,��� ��,���- - - - - - -- ���,��� �0�,��� �,0��,��� �,��0,��� ��,��� ��,��0,���
���,�0�$ �,���,���$ �0�,���$ �,���,���$ �0,���,���$ ��,���$ ��,���,���$
JUNE 30, 2012
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
COMBINING BALANCE SHEETNONMAJOR GOVERNMENTAL FUNDS
-��-
Planning Economicand Zoning Development
Parks and Special AuthorityRecreation Revenue Bar Library Revolving Loan Revolving
Fund Fund Fund Fund Loan FundREVENUE
Taxes -$ -$ -$ -$ -$ Intergovernmental �,��� - - - - F�nes and forfe�tures - �,��0 ��,��� - - M�scellaneous �,���,��� �0�,��� ��,��� - �,���
Total revenue �,���,��� ��0,00� ��,��� - �,���
EXPENDITURESSalar�es and fr�nge benef�ts �,���,��� ��,��� ��,��� - - Educat�on and m�scellaneous �,���,��� ��,��� ��,��� - -
Total expend�tures �,��0,��� ���,��� ��,��� - -
Excess (def�c�ency) of revenue over (under) expend�tures �,��� (��,���) (��,���) - �,���
OTHER FINANCING SOURCES (USES)Operat�ng transfer �n �0�,��� - - - - Operat�ng transfer out - - - - -
Total other f�nanc�ng sources (uses) �0�,��� - - - -
Net change �n fund balance �0�,��� (��,���) (��,���) - �,���
Fund balance - beg�nn�ng of year ���,��� �0�,��� ��,��� ��,�00 ���,���
Fund balance - end of year �,�00,���$ ��,���$ ��,���$ ��,�00$ ���,���$
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
COMBINING SCHEDULE OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCENONMAJOR GOVERNMENTAL FUNDS
YEAR ENDED JUNE 30, 2012
Board ofEconomic Library
Calvert Co. Development Land Trustee forFamily Grants Incentive Excise Tax Preservation Calvert
Network Fund Fund Fund Fund County Total
-$ -$ -$ �,�0�,�0�$ -$ -$ �,�0�,�0�$ - �,���,��0 - - ��0,��� �0�,�0� �,���,��� - - - - - ���,��� ���,0��
���,��� ���,0�� �,��� ��,��0 ��0,��� ���,��� �,�0�,���
���,��� �,���,��� �,��� �,���,��� �,���,��� ���,��� ��,���,���
�0,��� �,���,��� - - - �,���,��0 �,���,��� ���,��� �,���,0�� - ��,��� �,���,��� �0�,��� �,���,���
���,��� �,���,��� - ��,��� �,���,��� �,0��,��� ��,00�,���
- (�,���,���) �,��� �,���,��� (�,0�0,���) (�,0��,���) (�,���,���)
- �,���,��0 - ���,��� ���,000 �,0��,��� �,���,��� - - - (�,���,���) - - (�,���,���)
- �,���,��0 - (�,���,���) ���,000 �,0��,��� �,�0�,��0
- (��,���) �,��� �,���,��� (�,�0�,���) �,��� ���,0��
- ���,��� �0�,��� �,���,��� �0,���,��0 �0,��� ��,���,���
-$ ���,���$ �0�,���$ �,0��,���$ �,��0,���$ ��,���$ ��,��0,���$
YEAR ENDED JUNE 30, 2012
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
COMBINING SCHEDULE OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCENONMAJOR GOVERNMENTAL FUNDS
-��-
Planning Economicand Zoning Development
Parks and Special AuthorityRecreation Revenue Bar Library Revolving Loan Revolving
Fund Fund Fund Fund Loan FundREVENUE
Taxes -$ -$ -$ -$ -$ Intergovernmental �,��� - - - - F�nes and forfe�tures - �,��0 ��,��� - - M�scellaneous �,���,��� �0�,��� ��,��� - �,���
Total revenue �,���,��� ��0,00� ��,��� - �,���
EXPENDITURESSalar�es and fr�nge benef�ts �,���,��� ��,��� ��,��� - - Educat�on and m�scellaneous �,���,��� ��,��� ��,��� - -
Total expend�tures �,��0,��� ���,��� ��,��� - -
Excess (def�c�ency) of revenue over (under) expend�tures �,��� (��,���) (��,���) - �,���
OTHER FINANCING SOURCES (USES)Operat�ng transfer �n �0�,��� - - - - Operat�ng transfer out - - - - -
Total other f�nanc�ng sources (uses) �0�,��� - - - -
Net change �n fund balance �0�,��� (��,���) (��,���) - �,���
Fund balance - beg�nn�ng of year ���,��� �0�,��� ��,��� ��,�00 ���,���
Fund balance - end of year �,�00,���$ ��,���$ ��,���$ ��,�00$ ���,���$
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
COMBINING SCHEDULE OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCENONMAJOR GOVERNMENTAL FUNDS
YEAR ENDED JUNE 30, 2012
Board ofEconomic Library
Calvert Co. Development Land Trustee forFamily Grants Incentive Excise Tax Preservation Calvert
Network Fund Fund Fund Fund County Total
-$ -$ -$ �,�0�,�0�$ -$ -$ �,�0�,�0�$ - �,���,��0 - - ��0,��� �0�,�0� �,���,��� - - - - - ���,��� ���,0��
���,��� ���,0�� �,��� ��,��0 ��0,��� ���,��� �,�0�,���
���,��� �,���,��� �,��� �,���,��� �,���,��� ���,��� ��,���,���
�0,��� �,���,��� - - - �,���,��0 �,���,��� ���,��� �,���,0�� - ��,��� �,���,��� �0�,��� �,���,���
���,��� �,���,��� - ��,��� �,���,��� �,0��,��� ��,00�,���
- (�,���,���) �,��� �,���,��� (�,0�0,���) (�,0��,���) (�,���,���)
- �,���,��0 - ���,��� ���,000 �,0��,��� �,���,��� - - - (�,���,���) - - (�,���,���)
- �,���,��0 - (�,���,���) ���,000 �,0��,��� �,�0�,��0
- (��,���) �,��� �,���,��� (�,�0�,���) �,��� ���,0��
- ���,��� �0�,��� �,���,��� �0,���,��0 �0,��� ��,���,���
-$ ���,���$ �0�,���$ �,0��,���$ �,��0,���$ ��,���$ ��,��0,���$
YEAR ENDED JUNE 30, 2012
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
COMBINING SCHEDULE OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCENONMAJOR GOVERNMENTAL FUNDS
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COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
COMBINING STATEMENT OF NET POSITIONNONMAJOR PROPRIETARY FUNDS
JUNE 30, 2012
Chesapeake CalvertHills Golf Marine
Course Museum TotalASSETSCurrent assets:Cash and cash equ�valents ��,��0$ ��0,���$ ���,���$ Investments - ��,��� ��,���
Total cash, cash equ�valents and �nvestments ��,��0 ���,�0� ���,���
Accrued �nterest rece�vable � - � Deferred expenses ��,��� - ��,��� Prepa�d expenses - ��� ��� Inventory ��,��0 ��,��� ��,���
Total current assets ��,��� ���,��� ���,0��
Non-current assets:Restr�cted assets
Cash and �nvestments ���,��� ���,��� �,���,���
Cap�tal assets not be�ng deprec�ated �,���,��0 ���,��� �,���,�0� Deprec�able cap�tal assets - net �,���,��� �,���,��� �,0��,��� Total non-current assets �,�0�,��� �,���,��� �,���,���
Total assets �,���,��� �,�00,��� �,���,���
LIABILITIESCurrent l�ab�l�t�es:Vouchers and accounts payable �0,��� - �0,��� Accrued expenses ��,��� ��,��� ��,��� Due to other funds ��,��� - ��,��� Unearned revenue - �,��� �,��� Compensated absences, current port�on �,000 - �,000 Long-term debt, current port�on ��,0�� - ��,0�� Total current l�ab�l�t�es ���,��� ��,��� ���,��0
Noncurrent l�ab�l�t�es:Compensated Absenses, net of current port�on ��,0�� - ��,0�� Bond prem�um/deferred loss on refund�ng ���,��� - ���,��� Long-term debt, net of current port�on ���,��� - ���,���
Total l�ab�l�t�es ��0,��� ��,��� ���,��0
NET POSITIONInvested �n cap�tal assets, net of related debt �,���,��� �,���,��� �,���,00� Restr�cted cap�tal connect�on - - - Restr�cted g�fts and bequests ���,��� ���,��� �,���,��� Unrestr�cted (���,�0�) ���,��� ��,���
Total net pos�t�on �,�0�,���$ �,���,��0$ �,���,���$
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COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
COMBINING STATEMENT OF REVENUE, EXPENSES, AND CHANGES IN FUND NET POSITIONNONMAJOR PROPRIETARY FUNDS
YEAR ENDED JUNE 30, 2012
Chesapeake CalvertHills Golf Marine
Course Museum TotalOperat�ng revenue:
Charges for serv�ces ���,���$ ���,���$ ���,0��$
Operat�ng expenses:Salar�es & benef�ts ���,�0� �,���,��� �,�0�,��� Contracted serv�ces �0,��� ���,��� ���,�0� Suppl�es ��,00� ��0,��� ���,��� Heat, l�ght and power �0,��0 ���,0�� ���,��� Deprec�at�on ���,��� ��0,��� ���,��� M�scellaneous �0�,��� ���,0�� ���,�0� Telephone �,��� �,�0� ��,��� Compensated absences ��,��� - ��,��� Ma�ntenance and repa�rs ���,0�� ��,��� ���,��� Cap�tal outlay - ��,��� ��,��� Grant & restr�cted expenses - �0,��� �0,���
Total operat�ng expenses �,0�0,��0 �,���,��� �,���,���
Operat�ng �ncome (loss) (�0�,���) (�,���,�00) (�,���,���)
Non-operat�ng revenue (expenses):
Grants �,��� ��,0�0 ��,��� Contr�but�ons and fund-ra�s�ng - ���,��� ���,��� M�scellaneous �ncome �� ���,��� ���,��� Investment �ncome �,��� �,��� �,���
Total non-operat�ng revenue (expenses) �,��� ���,�0� ���,���
Income (loss) before contr�but�ons and transfers - (�0�,���) (�,���,���) (�,��0,���)
Operat�ng transfers �n (out) ���,0�� �,�0�,��0 �,���,��� Cap�tal contr�but�ons - ��,��� ��,���
Change �n net pos�t�on (���,���) (���,���) (���,���)
Total net pos�t�on - beg�nn�ng �,���,��� �,��0,�0� �,���,���
Total net pos�t�on - end�ng �,�0�,���$ �,���,��0$ �,���,���$
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COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
COMBINING STATEMENT OF CASH FLOWS NONMAJOR PROPRIETARY FUNDS
FOR THE YEAR ENDED JUNE 30, 2012
Chesapeake CalvertHills Marine
Golf Course Museum TotalCASH FLOWS FROM OPERATING ACTIVITIES
Rece�pts from customers ���,���$ ���,���$ ���,���$ Payments to suppl�ers (�0�,�0�) (���,���) (�,���,���) Payments to employees (���,0��) (�,���,���) (�,���,���) Rece�pts from other funds ���,��� - ���,���
Net cash prov�ded by (used �n) operat�ng act�v�t�es ���,��� (�,0��,���) (�,���,���)
CASH FLOWS FROM NON-CAPITAL FINANCING ACTIVITIESOperat�ng transfers from other funds ���,0�� �,�0�,��0 �,���,��� Contr�but�on and fundra�s�ng rece�pts/m�sc. �,�0� ���,��� ���,���
Net cash prov�ded by (used �n) non-cap�tal f�nanc�ng act�v�t�es ���,��� �,���,��� �,���,���
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIESAdd�t�ons to cap�tal assets and construct�on-�n-progress (���,��0) (�0�,���) (���,���) Proceeds from �ssuance of long term debt ���,�0� - ���,�0� Grant funds rece�ved - ��,0�0 ��,0�0 Cap�tal contr�but�ons - ��,��� ��,��� Interest pa�d on long-term obl�gat�ons (�,���) - (�,���)
Net cash prov�ded by (used �n) cap�tal and related f�nanc�ng act�v�t�es ���,��� (���,���) ��,���
CASH FLOWS FROM INVESTING ACTIVITIESInterest rece�ved on depos�ts �,��� �,��� �0,��� Purchase of �nvestments (���,���) ���,��� (���,���)
Net cash prov�ded by (used �n) �nvest�ng act�v�t�es (���,���) ���,��� (���,���)
Increase �n cash and cash equ�valents (��,���) (��,��0) (��,���) Cash and cash equ�valents, beg�nn�ng of year ��,��� ���,��� ��0,�0�
Cash and cash equ�valents, end of year ��,��0$ ��0,���$ ���,���$
PROVIDED BY (USED IN) OPERATING ACTIVITIESOperat�ng �ncome (loss) (�0�,���)$ (�,���,�00)$ (�,���,���)$ Adjustments to reconc�le operat�ng �ncome (loss) to
Net cash prov�ded by (used �n) operat�ng act�v�t�esDeprec�at�on ���,��� ��0,��� ���,���
Changes �n assets and l�ab�l�t�esInventory (�,0��) �,��� �,��� Prepa�d expenses - �,��� �,��� Deferred expend�tures - (�,�0�) (�,�0�) Due from other funds ���,��� - ���,��� Accounts payable (�0,�0�) - (�0,�0�) Accrued expenses �0,��� ��,��� ��,��0 Due to other funds - - -
Net cash prov�ded by (used �n) operat�ng act�v�t�es ���,���$ (�,0��,���)$ (�,���,���)$
Reconciliation of cash and cash equivalents to the balance sheet:Cash and �nvestments, unrestr�cted ��,��0$ ���,�0�$ ���,���$ Cash and �nvestments, restr�cted ���,��� ���,��� �,���,���
���,��� �0�,��� �,���,��� Less - noncash equ�valent �nvestments ���,��� ���,��� �,��0,��0
Cash and cash equ�valents ��,��0$ ��0,���$ ���,���$
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OperatingFund
ASSETSCash, cash equ�valents and �nvestments �,���,���$ Notes rece�vable ��,��� Accrued �nterest rece�vable �,��� Due from pr�mary government ���,��� Cap�tal assets (not be�ng deprec�ated) ��,���
Total assets �,���,���$
LIABILITIESDeferred revenue -$
Total l�ab�l�t�es -
NET POSITIONInvested �n cap�tal assets, net of related debt ��,��� Unrestr�cted �,���,���
Total net pos�t�on �,���,���$
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
ECONOMIC DEVELOPMENT AUTHORITY COMPONENT UNITFUND PRESENTATION
STATEMENT OF NET POSITIONJUNE 30, 2012
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OperatingFund
Operat�ng revenue:Charges for serv�ces �,���$ M�scellaneous �ncome ��
Total operat�ng revenue �,���
Operat�ng expenses:Contracted serv�ces �,��� M�scellaneous -
Total operat�ng expenses �,���
Operat�ng �ncome (loss) �,�0�
Non-operat�ng revenue (expenses):Investment �ncome ��,��� Investment expense (�,���)
Total non-operat�ng revenue (expenses) �,���
Change �n net pos�t�on �0,���
Total net pos�t�on - beg�nn�ng �,���,���
Total net pos�t�on - end�ng �,���,���$
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
STATEMENT OF REVENUE, EXPENSES, AND CHANGES IN FUND NET POSITION
ECONOMIC DEVELOPMENT AUTHORITY COMPONENT UNIT
YEAR ENDED JUNE 30, 2012
FUND PRESENTATION
-�0-
OperatingFund
CASH FLOWS FROM OPERATING ACTIVITIESNote rece�pts from customers ��,��0$ Interest rece�pts from customers �,��� Payments from (to) pr�mary government (��,���) Payments to suppl�ers (�,���)
Net cash prov�ded by (used �n) operat�ng act�v�t�es ���
CASH FLOWS FROM INVESTING ACTIVITIESInterest rece�ved on �nvestments �0,��� Investment expenses (�,���)
Net cash prov�ded by (used �n) �nvest�ng act�v�t�es �,���
Increase �n cash and cash equ�valents �,���
Cash and cash equ�valents, beg�nn�ng of year �,���,��� Cash and cash equ�valents, end of year �,���,���$
PROVIDED BY (USED IN) OPERATING ACTIVITIESOperat�ng �ncome (loss) �,�0�$ Adjustments to reconc�le operat�ng �ncome (loss) to
Net cash prov�ded by (used �n) operat�ng act�v�t�esChanges �n assets and l�ab�l�t�es
Notes rece�vable ��,��0 Due from pr�mary government (��,���)
Net cash prov�ded by (used �n) operat�ng act�v�t�es ���$
Reconciliation of cash and cash equivalents to the balance sheet:Cash and �nvestments, unrestr�cted -$ Cash and �nvestments, restr�cted �,���,���
�,���,��� Less - noncash equ�valent �nvestments - Cash and cash equ�valents �,���,���$
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
ECONOMIC DEVELOPMENT AUTHORITY COMPONENT UNITFUND PRESENTATION
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED JUNE 30, 2012
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AdministrativeWater Sewer Contracted and
Systems Systems Systems Shared Costs Total
Operat�ng revenueCharges for serv�ces �,���,�0�$ �,���,���$ ���,0��$ -$ �,���,���$
Operat�ng expensesSalar�es & benef�ts �0�,��� ��0,��� ��,��� ���,��� �,�00,��� Contracted serv�ces ��,�0� ���,��� �,��� ��,��� ���,��� Suppl�es ���,0�� ���,��0 �,��0 �0,��0 ���,��� Heat, l�ght and power ���,��� �0�,��� - - ���,0�� Deprec�at�on ���,0�� �,�0�,��� - ��,�0� �,0��,��� M�scellaneous �0,��� ��,��� - ��,��0 ��,��� Telephone �,0�� �,��� ��� �,��� ��,0�� Compensated absences ��,��� (���) ��,��� �,��0 ��,��� Ma�ntenance and repa�rs ���,�0� ���,��0 ��,��� ��,��� ���,��� Cap�tal outlay �,��� (���) - �,��� �,���
Total operat�ng expenses �,���,��� �,���,��0 �0�,��� �0�,��� �,���,�0�
Operat�ng �ncome (loss) (���,���) ���,��� �,0�� (�0�,���) (�0�,���)
Non-operat�ng revenue (expenses)Deferred amount on refund�ng (���) (��,���) - - (��,��0) M�scellaneous �ncome �0,��0 ��,��� - �,�0� ��,��� FEMA grant re�mbursement ��,��0 ��,��� - - ��,��� Tower revenue ���,0�� - - - ���,0�� Investment �ncome �,��� ��,��� - �,��� ��,��� Developer contr�but�on - ���,��� - - ���,��� Interest expense (��,��0) (��0,���) - - (���,���) Adm�n�strat�ve allocat�on (���,���) (���,���) (�,0��) ���,��� -
Total non-operat�ng revenue (expenses) (���,���) (���,���) (�,0��) �0�,��� ���,���
(���,���) ���,��� - - (���,���)
TransfersOperat�ng transfers �n (out) ��,�0� ��,��� - - ��,��� Cap�tal transfers �n (out) - - - - -
Cap�tal connect�on charges ���,��� ���,��� - - ���,���
Change �n net pos�t�on (���,0��) ���,��0 - - ���,�0�
Total net pos�t�on - beg�nn�ng �,���,0�� ��,���,��� - �,���,��� ��,���,���
Total net pos�t�on - end�ng �,���,���$ ��,���,���$ -$ �,���,���$ ��,���,���$
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
Income (loss) before contr�but�ons and transfers
COMBINING SCHEDULE OF REVENUE, EXPENSES, AND CHANGES IN FUND NET POSITIONWATER AND SEWER FUNDYEAR ENDED JUNE 30, 2012
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Balance Balance
July 1, 2011 Additions Deductions June 30, 2012
Tax Redemption Fund
AssetsCash ��,���$ ���,��0$ (���,���)$ ��,���$ Accounts rece�vable �,��� �� - �,���
Total assets ��,���$ ���,�0�$ (���,���)$ �00,���$
LiabilitiesAccounts payable ��,���$ ���,��0$ (���,0��)$ �00,���$
Total l�ab�l�t�es ��,���$ ���,��0$ (���,0��)$ �00,���$
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
STATEMENT OF CHANGES IN ASSETS AND LIABILITIESAGENCY FUNDJUNE 30, 2012
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COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
SCHEDULE OF NOTES RECEIVABLE - VOLUNTEER FIRE DEPARTMENTSAND RESCUE SQUADS - GENERAL FUND
JUNE 30, 2012
VolunteerFire Departments Payment Balance Balance
and Rescue Squads Term Period June 30, 2011 Additions Reductions June 30, 2012
North Beach �� years Sem�annually ���,�0�$ -$ �0,���$ ���,���$ �� years Sem�annually �,��0 - �,�0� �,���
� years Sem�annually ��,��� - ��,��� ��,��� �� years Sem�annually �,��0 - �,��0 -
� years Sem�annually ���,000 - �0,0�� ��0,��� �� years Sem�annually ��,��� - �,��� ��,���
���,��0 - ��,��� ���,���
Pr�nce Freder�ck (PF) �� years Sem�annually �,0�� - �,0�� - �0 years Sem�annually �,��� - �,��� - �� years Sem�annually ��,�00 - �,��0 ��,��0 �� years Sem�annually ���,�00 - ��,�00 ���,�00 �� years Sem�annually ��,��� - ��,��0 �0,��� �� years Sem�annually ���,000 - ��,000 ���,000 �� years Sem�annually ��,��� - �,��� �,��� �� years Sem�annually - ���,000 - ���,000 �� years Sem�annually - ��0,000 - ��0,000
���,��� ���,000 �0,0�� �,���,���
Solomons �� years Sem�annually ��,��� - ��,��� ��,�0� �� years Sem�annually ��,��� - ��,��� ��,��0
� years Sem�annually ��,�0� - ��,��� ��,��� �� years Sem�annually ��,�00 - �,�00 �,�00 �� years Sem�annually �0,000 - �,000 ��,000 �� years Sem�annually ��,��0 - �,��0 ��,��0
� years Sem�annually ��,��� - �,��� �0,��� � years Sem�annually ��,��� - ��,��� - � years Sem�annually ���,�0� - ��,��� �0�,��� � years Sem�annually - ���,000 �0,0�� ��0,���
���,��� ���,000 ���,��� ���,0��
PF Second D�str�ct � years Sem�annually ��,��� - ��,��� - � years Sem�annually ��,��� - ��,��0 ��,��� � years Sem�annually ��,�0� - ��,��� ��,���
��0,��� - ��,��� ��,���
Dunk�rk �� years Sem�annually ���,��� - �,��� �0�,��� � years Sem�annually �0,0�� - ��,��� �,��� � years Sem�annually �0,��� - ��,��� �,��� � years Sem�annually �,��� - �,��� -
�� years Sem�annually ���,�00 - ��,000 ���,�00 �� years Sem�annually ��,�0� - �,��� �0,���
���,��0 - ��,��� ���,���
Hunt�ngtown �� years Sem�annually ��,�00 - �,��0 ��,��0 �� years Sem�annually ��,�00 - �,�00 ��,�00 �� years Sem�annually ��,��� - �,��� ��,�0� �� years Sem�annually ��,��0 - ��,��� ��,���
� years Sem�annually �,��� - �,��� - �� years Sem�annually ��,��0 - �,0�0 ��,��0 �� years Sem�annually ��0,0�0 - ��,��0 ���,��0
� years Sem�annually �,��� - �,��� - ���,��� - ��,0�0 ���,���
St. Leonard �� years Sem�annually ��,��� - ��,�0� �0,0�0 �� years Sem�annually ���,�0� - �0,��� ���,��� �� years Sem�annually ���,��� - �,��� ���,���
� years Sem�annually ��,��� - �,��� ��,0�� � years Sem�annually ��,��� - ��,��� -
�� years Sem�annually ��,��� - �,��� �0,��� � years Sem�annually - ���,000 - ���,000
���,��� ���,000 ��,��0 ���,���
Calvert Advanced L�fe � years Sem�annually ��,�0� - ��,�0� - Support Un�t � years Sem�annually ��,�0� - ��,�0� -
� years Sem�annually ��,��� - ��,0�� ��,0�� �.� years Sem�annually ��,��� - ��,��� ��,���
���,��� - �0�,��� ��,���
�,���,���$ �,���,000$ ���,��0$ �,���,���$
-��-
COUNTY COMMISSIONERS OF CALVERT COUNTY, MARYLAND
SCHEDULE OF REAL AND PERSONAL TAXES RECEIVABLE GENERAL FUND
JUNE 30, 2012
Total Assessed Tax RateValue of Per $100 of BalanceTaxable Assessed Actual Amount of TaxesProperty Value Tax Levy Collected Receivable
County Port�onCurrent year property - locally assessedReal property:
For full year levy ��,���,���,�0�$ 0.���$ ��0,���,���$ �0�,���,���$ �,���,000$ For half year levy ��,���,��0 0.��� ���,��� ���,��� - North Beach ���,0��,0�� 0.��� �,���,��� �,���,��� - Chesapeake Beach ���,���,��� 0.��� �,0��,�0� �,0��,�0� - Total real property ��,���,���,��� ���,���,��� ���,�00,��� �,���,000
Personal property, �nclud�ng corporat�ons and banks ���,�00,��0 �.��0 �,���,��� �,��0,��� ���,�00 Publ�c ut�l�t�es operat�ng and personal property �0�,���,��0 �.��0 ��,�0�,��� ��,�0�,�0� �,��0
Total current year ��,���,���,���$ ���,�0�,���$ ���,0��,���$ �,���,��0$
Pr�or years, real, personal, and corporate property �,���,��� Accrued �nterest rece�vable and serv�ce charge �,0��,���
Total pr�or years, accrued �nterest and �nterest and outstand�ng tax cred�t �,���,��0
Total taxes rece�vable - county port�on �,���,0�0 Taxes rece�vable - state port�on, net of tax cred�ts ���,��� Taxes rece�vable - towns port�on, net of tax cred�ts ���,��� Bay Restorat�on fee due to state - b�lled w�th Real estate taxes ��,���
Total taxes rece�vable �,���,0��$
-��-
Hea
lthy
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rday
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nves
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ilies
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ED
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30,
201
2
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL
STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
County Commissioners of Calvert County, MarylandPrince Frederick, Maryland
We have audited the financial statements of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information of the County Commissioners of Calvert County, Maryland, as of and for the year ended June 30, 2012, which collectively comprise the County Commissioners of Calvert County, Maryland’s basic financial statements and have issued our report thereon dated December 19, 2012.Our report includes a reference to other auditors. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Other auditors audited the financial statements of the Calvert County Board of Education, as described in our report on the County Commissioners of Calvert County, Maryland’s financial statements. This report does not include the results of the other auditors’ testing of internal control over financial reporting or compliance and other matters that are reported on separately by those auditors.
Internal Control Over Financial Reporting
Management of the County Commissioners of Calvert County, Maryland, is responsible for establishing and maintaining effective internal control over financial reporting. In planning and performing our audit, we considered the County Commissioners of Calvert County, Maryland’s internal control over financial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the County Commissioners of Calvert County, Maryland’s internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the County Commissioners of Calvert County, Maryland’s internal control over financial reporting.
-��-
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL
STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
County Commissioners of Calvert County, MarylandPrince Frederick, Maryland
We have audited the financial statements of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information of the County Commissioners of Calvert County, Maryland, as of and for the year ended June 30, 2012, which collectively comprise the County Commissioners of Calvert County, Maryland’s basic financial statements and have issued our report thereon dated December 19, 2012.Our report includes a reference to other auditors. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Other auditors audited the financial statements of the Calvert County Board of Education, as described in our report on the County Commissioners of Calvert County, Maryland’s financial statements. This report does not include the results of the other auditors’ testing of internal control over financial reporting or compliance and other matters that are reported on separately by those auditors.
Internal Control Over Financial Reporting
Management of the County Commissioners of Calvert County, Maryland, is responsible for establishing and maintaining effective internal control over financial reporting. In planning and performing our audit, we considered the County Commissioners of Calvert County, Maryland’s internal control over financial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the County Commissioners of Calvert County, Maryland’s internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the County Commissioners of Calvert County, Maryland’s internal control over financial reporting.
-��-
A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect and correct misstatements on a timely basis. Amaterial weakness is a deficiency, or a combination of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis.
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be deficiencies, significant deficiencies or material weaknesses. We did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses, as defined above.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the County Commissioners of Calvert County, Maryland’s financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts.However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.
This report is intended solely for the information and use of the County Commissioners of Calvert County, Maryland, management, others within the entity and federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties.
Clinton, Maryland December 19, 2012
Statistical Section
“THIS PAGE LEFT INTENTIONALLY BLANK”
COUNTY COMMISSIONERS OF CALVERT COUNTYCALVERT COUNTY, MARYLAND
FINANCIAL TREND DATAJUNE �0, �0��
The following schedules contain information to help the reader understand how the government’s financial performance and well-be�ng have changed over the last e�ght years.
The financial trend data schedules are: Net post�on by categoryChanges �n net post�onGeneral tax revenue-government act�v�t�esFund balance of governmental funds
••••
-��-
Coun
ty C
omm
issi
oner
s of
Cal
vert
Coun
ty, M
aryl
and
Net P
ositi
on b
y Co
mpo
nent
sLa
st T
en F
isca
l Yea
rs(a
ccru
al b
asis
of a
ccou
ntin
g)(u
naud
ited,
see
rela
ted
note
s be
low
)Sc
hedu
le 1
FY20
03FY
2004
FY20
05FY
2006
FY20
07FY
2008
FY20
09FY
2010
FY20
11FY
2012
Gov
ernm
enta
l act
ivitie
sIn
vest
ed in
cap
ital a
sset
s, n
et o
f rel
ated
deb
t56
,233
,384
$
61,1
46,2
24$
63
,129
,333
$
78,8
66,5
12$
96
,731
,172
$
100,
994,
016
$ 10
9,94
2,36
0$
110,
447,
873
$ 10
9,94
3,24
6$
116,
545,
107
$Re
stric
ted
4,88
3,35
9
5,05
5,70
7
5,51
6,11
6
5,88
4,50
9
9,24
6,06
7
7,76
3,48
1
11,9
68,4
98
13
,275
,882
17,1
37,4
97
17
,390
,548
Unre
stric
ted
54,1
35,9
18
45
,990
,097
63,1
68,0
41
67
,514
,862
69,0
49,3
48
78
,491
,069
49,4
70,2
23
33
,885
,557
43,1
42,0
24
36
,476
,103
Tota
l gov
ernm
enta
l act
ivitie
s ne
t pos
ition
115,
252,
661
$ 11
2,19
2,02
8$
131,
813,
490
$15
2,26
5,88
3$
175,
026,
587
$18
7,24
8,56
6$
171,
381,
081
$15
7,60
9,31
2$
170,
222,
767
$17
0,41
1,75
8$
Busin
ess-
type
act
ivitie
sIn
vest
ed in
cap
ital a
sset
s, n
et o
f rel
ated
deb
t27
,314
,438
$
28,8
43,5
60$
30
,186
,513
$
30,2
15,4
02$
32
,980
,825
$
34,7
22,5
81$
38
,558
,942
$
34,3
65,8
14$
34
,549
,717
$
32,5
68,7
68$
Rest
ricte
d4,
845,
269
4,
604,
303
4,
091,
718
4,
903,
917
4,
386,
023
5,
674,
336
2,
704,
915
2,
359,
895
2,
336,
457
2,
787,
892
Un
rest
ricte
d1,
919,
870
1,
330,
155
16
,967
(1,5
79,4
73)
(3,5
35,3
83)
(5,9
65,7
71)
(2,8
23,5
74)
1,53
9,58
8
897,
574
2,13
4,59
6
Tota
l bus
ines
s-ty
pe a
ctivi
ties
net p
ositio
n34
,079
,577
$
34,7
78,0
18$
34
,295
,198
$
33,5
39,8
46$
33
,831
,465
$
34,4
31,1
46$
38
,440
,283
$
38,2
65,2
97$
37
,783
,748
$
37,4
91,2
56$
Prim
ary
gove
rnm
ent
Inve
sted
in c
apita
l ass
ets,
net
of r
elat
ed d
ebt
83,5
47,8
22$
89
,989
,784
$
93,3
15,8
46$
10
9,08
1,91
4$
129,
711,
997
$ 13
5,71
6,59
7$
148,
501,
302
$ 14
4,81
3,68
7$
144,
492,
963
$ 14
9,11
3,87
5$
Rest
ricte
d9,
728,
628
9,
660,
010
9,
607,
834
10
,788
,426
13,6
32,0
90
13
,437
,817
14,6
73,4
13
15
,635
,777
19,4
73,9
54
20
,178
,440
Unre
stric
ted
56,0
55,7
88
47
,320
,252
63,1
85,0
08
65
,935
,389
65,5
13,9
65
72
,525
,298
46,6
46,6
49
35
,425
,145
44,0
39,5
98
38
,610
,699
Tota
l prim
ary
gove
rnm
ent n
et p
ositio
n14
9,33
2,23
8$
146,
970,
046
$16
6,10
8,68
8$
185,
805,
729
$20
8,85
8,05
2$
221,
679,
712
$ 20
9,82
1,36
4$
195,
874,
609
$20
8,00
6,51
5$
207,
903,
014
$
NOTE
S:(1
) Acc
ount
ing
stan
dard
s re
quire
the
net p
ositio
n be
repo
rted
in th
ree
com
pone
nts
in th
e fin
ancia
l sta
tem
ents
: cap
ital a
sset
s, n
et o
f rel
ated
debt
: res
trict
ed: a
nd u
nres
trict
ed.
Net p
ositio
n is
cons
ider
ed re
stric
ted
when
(1) a
n ex
tern
al p
arty
, suc
h as
the
stat
e or
fede
ral g
over
nmen
t,pl
aces
a re
stric
tion
on h
ow th
e re
sour
ces
may
be
used
, or (
2) e
nabl
ing
legi
slatio
n is
enac
ted
by th
e Co
unty
.
“THIS PAGE LEFT INTENTIONALLY BLANK”
-��-
Coun
ty C
omm
issi
oner
s of
Cal
vert
Coun
ty, M
aryl
and
Chan
ges
in N
et P
ositi
onLa
st T
en F
isca
l Yea
rs(a
ccru
al b
asis
of a
ccou
ntin
g)(u
naud
ited,
see
rela
ted
note
s be
low
)Sc
hedu
le 2
Expe
nses
FY20
03FY
2004
FY20
05FY
2006
FY20
07FY
2008
FY20
09FY
2010
FY20
11FY
2012
Gov
ernm
enta
l act
iviti
es:
Gen
eral
gov
ernm
ent
12,5
87,5
97$
13,3
69,2
18$
14,6
41,0
34$
15,8
37,4
98$
19,3
78,2
01$
21,1
18,9
28$
19,0
68,7
59$
10,7
29,4
59$
20,4
54,6
75$
21,0
42,1
97$
Publ
ic s
afet
y17
,249
,535
17
,642
,496
18
,794
,313
18
,104
,991
25
,832
,813
28
,440
,488
31
,997
,935
31
,297
,136
28
,670
,766
31
,304
,000
Publ
ic w
orks
10,5
61,3
11
10,3
79,2
11
4,95
4,30
8
8,65
6,50
7
16,2
94,5
62
12,7
47,6
10
18,1
72,3
91
24,1
31,8
44
15,0
59,8
70
17,8
75,7
24H
ealth
and
hos
pita
ls2,
604,
086
2,
581,
456
2,
439,
169
2,
547,
571
3,
091,
069
3,
059,
513
3,
451,
586
2,
128,
412
3,
407,
428
3,
513,
583
Soci
al s
ervi
ces
6,44
3,02
4
7,03
1,03
4
7,67
1,90
1
7,68
9,16
7
9,20
5,32
8
9,67
4,76
0
10,7
21,1
94
11,6
60,2
59
10,9
31,1
98
10,6
34,9
75Ed
ucat
ion
1,80
2,88
2
1,62
4,35
6
2,02
0,19
4
2,39
1,36
0
2,99
1,38
2
3,04
8,93
9
3,47
8,08
7
4,61
4,64
7
4,26
3,19
6
4,40
2,80
3Bo
ard
of E
duca
tion
78,0
87,4
40
93,3
20,8
07
87,3
72,3
70
85,7
12,6
12
90,3
78,7
44
108,
689,
460
122,
637,
685
133,
561,
524
128,
257,
599
129,
357,
909
Rec
reat
ion
and
cultu
re6,
297,
878
6,
564,
078
6,
831,
068
2,
547,
771
10
,608
,677
11
,230
,664
9,
561,
064
4,
993,
041
10
,430
,206
15
,328
,415
Con
serv
atio
n of
nat
ural
reso
urce
s29
1,65
1
77
0,37
7
1,
050,
357
3,
201,
679
1,
422,
798
1,
816,
478
1,
601,
851
1,
573,
710
3,
393,
562
4,
534,
680
Urb
an d
evel
opm
ent a
nd h
ousi
ng82
0,51
1
93
9,44
1
97
0,28
8
1,
076,
102
1,
326,
831
1,
378,
660
2,
603,
275
2,
643,
490
2,
521,
746
2,
870,
632
Econ
omic
dev
elop
men
t89
9,80
3
1,
232,
521
1,
179,
816
1,
204,
049
1,
430,
435
1,
209,
545
1,
465,
651
1,
852,
710
1,
580,
260
1,
621,
325
Mis
cella
neou
s8,
641,
126
9,
753,
996
10
,455
,449
12
,480
,849
-
-
-
-
-
-C
apita
l pro
ject
s3,
328,
279
4,
973,
978
4,
769,
708
13
,792
,519
2,
034,
100
-
-
-
-
-
Deb
t ser
vice
2,66
6,96
8
3,07
1,80
9
3,20
3,82
0
3,28
4,36
5
3,64
0,05
0
4,18
0,76
1
4,82
2,82
8
4,72
6,86
7
4,85
9,41
4
4,98
0,10
2Su
btot
al g
over
nmen
tal a
ctiv
ities
exp
ense
s15
2,28
2,09
1
17
3,25
4,77
8
16
6,35
3,79
5
17
8,52
7,04
0
18
7,63
4,99
0
20
6,59
5,80
6
22
9,58
2,30
6
23
3,91
3,09
9
23
3,82
9,92
0
24
7,46
6,34
5Bu
sine
ss-ty
pe a
ctiv
ities
:W
ater
and
sew
er4,
773,
683
5,
186,
540
5,
179,
836
5,
813,
095
5,
782,
763
6,
063,
824
6,
383,
249
6,
955,
914
6,
595,
252
6,
707,
332
Solid
was
te10
,048
,130
11
,495
,314
12
,041
,497
12
,280
,864
11
,588
,833
11
,110
,091
10
,848
,552
10
,101
,302
9,
877,
661
10
,717
,986
Cul
ture
2,52
7,05
6
2,92
2,80
6
2,94
2,14
1
2,94
3,97
2
3,29
8,65
5
3,39
5,57
4
4,01
2,68
6
4,35
0,81
7
4,53
9,55
0
4,63
4,75
4Su
btot
al b
usin
ess-
type
act
iviti
es e
xpen
ses
17,3
48,8
69
19,6
04,6
60
20,1
63,4
74
21,0
37,9
31
20,6
70,2
51
20,5
69,4
89
21,2
44,4
87
21,4
08,0
33
21,0
12,4
63
22,0
60,0
72To
tal p
rimar
y go
vern
men
t exp
ense
s16
9,63
0,96
0$
19
2,85
9,43
8$
18
6,51
7,26
9$
19
9,56
4,97
1$
20
8,30
5,24
1$
22
7,16
5,29
5$
25
0,82
6,79
3$
25
5,32
1,13
2$
25
4,84
2,38
3$
26
9,52
6,41
7$
Prog
ram
Rev
enue
sG
over
nmen
tal a
ctiv
ities
:G
ener
al g
over
nmen
t1,
566,
147
$
2,
163,
364
$
1,
979,
433
$
3,
084,
507
$
2,
733,
752
$
4,
234,
723
$
4,
595,
411
$
4,
985,
993
$
4,
851,
711
$
4,
268,
793
$Pu
blic
saf
ety
4,12
3,39
8
5,60
4,44
4
6,34
3,75
0
5,84
8,00
1
6,92
5,88
1
7,16
6,20
6
7,36
4,29
9
7,71
3,00
6
7,10
7,18
5
8,61
1,18
9Pu
blic
wor
ks5,
373,
336
7,
849,
342
5,
439,
168
6,
446,
786
7,
282,
186
6,
388,
285
6,
434,
341
1,
642,
677
2,
799,
539
1,
852,
926
Hea
lth a
nd h
ospi
tals
41,3
29
82,6
08
54,3
43
58,1
87
70,6
87
58,3
99
38,7
37
47,2
13
52,9
58
288,
278
Soci
al s
ervi
ces
814,
116
682,
748
753,
748
754,
048
1,01
4,71
2
797,
476
1,04
9,52
7
698,
277
1,23
9,01
6
1,76
1,83
3Ed
ucat
ion
5,14
8
12
,103
34
,193
34
,193
8,
299
4,00
0
-
107,
940
-
15
5,68
0Bo
ard
of E
duca
tion
-
-
-
-
-
-
-
96
5,78
7
14
0,20
3
4,
573,
994
Rec
reat
ion
and
cultu
re2,
026,
048
4,
323,
459
2,
563,
470
3,
226,
166
3,
549,
745
3,
353,
666
3,
385,
992
3,
584,
768
4,
133,
659
5,
143,
001
Con
serv
atio
n of
nat
ural
reso
urce
s15
5,45
8
15
1,27
9
16
6,76
8
14
3,70
2
74
4,52
2
33
6,47
3
1,
330,
446
18
4,61
0
24
8,85
3
36
8,64
0U
rban
dev
elop
men
t and
hou
sing
700,
488
744,
894
845,
954
1,01
8,47
8
997,
111
961,
195
1,02
2,37
6
1,07
1,63
6
1,10
9,51
0
1,22
3,25
8Ec
onom
ic d
evel
opm
ent
1,29
3,68
9
1,08
3,52
2
989,
167
1,00
7,39
8
1,05
8,56
2
929,
119
838,
483
698,
198
591,
273
615,
199
Mis
cella
neou
s1,
126,
307
1,
353,
007
2,
097,
004
1,
730,
581
-
-
-
-
-
-C
apita
l pro
ject
s10
,644
,669
1,
987,
109
83
8,89
4
1,
823,
092
1,
707,
441
1,
356,
301
2,
334,
409
-
-
-
Deb
t ser
vice
641,
103
638,
943
640,
651
641,
346
636,
098
639,
458
636,
352
636,
802
7,44
1
7,
441
Subt
otal
gov
ernm
enta
l act
iviti
es re
venu
es28
,511
,236
26
,676
,822
22
,746
,543
25
,816
,485
26
,728
,996
26
,225
,301
29
,030
,373
22
,336
,907
22
,281
,348
28
,870
,232
Busi
ness
-type
act
iviti
es:
Wat
er a
nd s
ewer
3,63
2,58
0
5,15
2,44
7
4,51
8,24
1
4,50
4,97
3
4,69
6,93
1
5,52
9,76
0
6,19
7,14
3
6,05
1,78
6
6,13
2,56
8
6,77
7,88
8So
lid w
aste
10,4
33,6
75
11,8
06,4
48
12,3
18,4
89
12,5
69,9
22
12,5
24,4
86
11,6
26,4
94
11,2
38,2
60
10,2
35,4
71
10,1
00,1
42
10,6
66,6
77C
ultu
re49
7,52
2
1,
181,
133
60
7,40
6
66
8,81
2
73
2,75
5
83
7,52
8
1,
201,
750
1,
750,
751
1,
488,
473
1,
300,
918
Subt
otal
bus
ines
s-ty
pe a
ctiv
ities
reve
nues
14,5
63,7
77
18,1
40,0
28
17,4
44,1
36
17,7
43,7
07
17,9
54,1
72
17,9
93,7
82
18,6
37,1
53
18,0
38,0
08
17,7
21,1
83
18,7
45,4
83To
tal p
rimar
y go
vern
men
t rev
enue
s43
,075
,013
$
44
,816
,850
$
40
,190
,679
$
43
,560
,192
$
44
,683
,168
$
44
,219
,083
$
47
,667
,526
$
40
,374
,915
$
40
,002
,531
$
47
,615
,715
$
-�00-
Coun
ty C
omm
issi
oner
s of
Cal
vert
Coun
ty, M
aryl
and
Chan
ges
in N
et P
ositi
onLa
st N
ine
Fisc
al Y
ears
(acc
rual
bas
is o
f acc
ount
ing)
(una
udite
d, s
ee re
late
d no
tes
belo
w)
Sche
dule
2
Net (
Expe
nse)
/Rev
enue
FY20
03FY
2004
FY20
05FY
2006
FY20
07FY
2008
FY20
09FY
2010
FY20
11FY
2012
Gov
ernm
enta
l act
iviti
es:
Gen
eral
gov
ernm
ent
(11,
021,
450)
$
(11,
205,
854)
$
(12,
661,
601)
$
(12,
752,
991)
$
(16,
644,
449)
$
(16,
884,
205)
$
(14,
473,
348)
$
(5,7
43,4
66)
$
(1
5,60
2,96
4)$
(1
6,77
3,40
4)$
Publ
ic s
afet
y(1
3,12
6,13
7)
(1
2,03
8,05
2)
(1
2,45
0,56
3)
(1
2,25
6,99
0)
(1
8,90
6,93
2)
(2
1,27
4,28
2)
(2
4,63
3,63
6)
(2
3,58
4,13
0)
(2
1,56
3,58
1)
(2
2,69
2,81
1)Pu
blic
wor
ks(5
,187
,975
)
(2,5
29,8
69)
48
4,86
0
(2
,209
,721
)
(9,0
12,3
76)
(6
,359
,325
)
(11,
738,
050)
(22,
489,
167)
(12,
260,
331)
(16,
022,
798)
Hea
lth a
nd h
ospi
tals
(2,5
62,7
57)
(2
,498
,848
)
(2,3
84,8
26)
(2
,489
,384
)
(3,0
20,3
82)
(3
,001
,114
)
(3,4
12,8
49)
(2
,081
,199
)
(3,3
54,4
70)
(3
,225
,305
)So
cial
ser
vice
s(5
,628
,908
)
(6,3
48,2
86)
(6
,918
,153
)
(6,9
35,1
19)
(8
,190
,616
)
(8,8
77,2
84)
(9
,671
,667
)
(10,
961,
982)
(9,6
92,1
82)
(8
,873
,142
)Ed
ucat
ion
(1,7
97,7
34)
(1
,612
,253
)
(1,9
86,0
01)
(2
,357
,167
)
(2,9
83,0
83)
(3
,044
,939
)
(3,4
78,0
87)
(4
,506
,707
)
(4,2
63,1
96)
(4
,247
,123
)Bo
ard
of E
duca
tion
(78,
087,
440)
(93,
320,
807)
(87,
372,
370)
(85,
712,
612)
(90,
378,
744)
(108
,689
,460
)
(122
,637
,685
)
(132
,595
,737
)
(128
,117
,396
)
(124
,783
,915
)R
ecre
atio
n an
d cu
lture
(4,2
71,8
30)
(2
,240
,619
)
(4,2
67,5
98)
67
8,39
5
(7
,058
,932
)
(7,8
76,9
98)
(6
,175
,072
)
(1,4
08,2
73)
(6
,296
,547
)
(10,
185,
414)
Con
serv
atio
n of
nat
ural
reso
urce
s(1
36,1
93)
(619
,098
)
(8
83,5
89)
(3,0
57,9
77)
(6
78,2
76)
(1,4
80,0
05)
(2
71,4
05)
(1,3
89,1
00)
(3
,144
,709
)
(4,1
66,0
40)
Urb
an d
evel
opm
ent a
nd h
ousi
ng(1
20,0
23)
(194
,547
)
(1
24,3
34)
(57,
624)
(329
,720
)
(4
17,4
65)
(1,5
80,8
99)
(1
,571
,854
)
(1,4
12,2
36)
(1
,647
,374
)Ec
onom
ic d
evel
opm
ent
393,
886
(148
,999
)
(1
90,6
49)
(196
,651
)
(3
71,8
73)
(280
,426
)
(6
27,1
68)
(1,1
54,5
12)
(9
88,9
87)
(1,0
06,1
26)
Mis
cella
neou
s(7
,514
,819
)
(8,4
00,9
89)
(8
,358
,445
)
(10,
750,
268)
-
-
-
-
-
-
Cap
ital p
roje
cts
7,31
6,39
0
(2,9
86,8
69)
(3
,930
,814
)
(11,
969,
427)
(326
,659
)
1,
356,
301
2,
334,
409
-
-
-
Deb
t ser
vice
(2,0
25,8
65)
(2
,432
,866
)
(2,5
63,1
69)
(2
,643
,019
)
(3,0
03,9
52)
(3
,541
,303
)
(4,1
86,4
76)
(4
,090
,065
)
(4,8
51,9
73)
(4
,972
,661
)Su
btot
al g
over
nmen
tal a
ctiv
ities
exp
ense
s(1
23,7
70,8
55)
(1
46,5
77,9
56)
(1
43,6
07,2
52)
(1
52,7
10,5
55)
(1
60,9
05,9
94)
(1
80,3
70,5
05)
(2
00,5
51,9
33)
(2
11,5
76,1
92)
(2
11,5
48,5
72)
(2
18,5
96,1
13)
Busi
ness
-type
act
iviti
es:
Wat
er a
nd s
ewer
(1,1
41,1
03)
(3
4,09
3)
(6
61,5
95)
(1,3
08,1
22)
(1
,085
,832
)
(534
,064
)
(1
86,1
06)
(904
,128
)
(4
62,6
84)
70,5
56So
lid w
aste
385,
545
311,
134
276,
992
289,
058
935,
653
516,
403
389,
708
134,
169
222,
481
(51,
309)
Cul
ture
(2,0
29,5
34)
(1
,741
,673
)
(2,3
34,7
35)
(2
,275
,160
)
(2,5
65,9
00)
(2
,558
,046
)
(2,8
10,9
36)
(2
,600
,066
)
(3,0
51,0
77)
(3
,333
,836
)Su
btot
al b
usin
ess-
type
act
iviti
es e
xpen
ses
(2,7
85,0
92)
(1
,464
,632
)
(2,7
19,3
38)
(3
,294
,224
)
(2,7
16,0
79)
(2
,575
,707
)
(2,6
07,3
34)
(3
,370
,025
)
(3,2
91,2
80)
(3
,314
,589
)To
tal p
rimar
y go
vern
men
t exp
ense
s(1
26,5
55,9
47)
$ (1
48,0
42,5
88)
$ (1
46,3
26,5
90)
$ (1
56,0
04,7
79)
$ (1
63,6
22,0
73)
$ (1
82,9
46,2
12)
$ (2
03,1
59,2
67)
$ (2
14,9
46,2
17)
$ (2
14,8
39,8
52)
$ (2
21,9
10,7
02)
$
Gen
eral
Rev
enue
s an
d O
ther
Cha
nges
in N
et P
ositi
onG
over
nmen
tal a
ctiv
ities
: P
rope
rty ta
xes
69,9
22,2
60$
77,4
71,7
02$
85,1
33,6
07$
90,8
33,1
50$
98,9
94,2
36$
109,
907,
718
$
126,
502,
446
$
137,
559,
596
$
150,
043,
755
$
150,
000,
842
$ In
com
e ta
xes
39,7
53,3
12
49,9
78,6
22
56,8
80,1
09
58,6
47,6
05
61,8
86,5
20
63,4
77,7
15
54,2
80,0
21
55,4
75,4
03
69,7
11,2
37
64,0
71,3
20 R
ecor
datio
n ta
xes
9,06
7,97
9
11,3
22,2
87
13,6
30,1
56
14,4
81,8
19
11,6
64,6
98
9,11
4,66
1
5,79
9,98
5
5,69
0,34
8
5,33
0,74
6
5,18
0,57
6 A
dmis
sion
and
am
usem
ent t
axes
40
,472
19
8,06
3
26
9,04
9
29
3,73
5
10
7,31
0
23
,377
30
,212
25
,009
25
,803
30
,938
Fra
nchi
se ta
xes
551,
667
618,
105
714,
446
778,
416
892,
707
984,
342
1,07
8,08
0
1,11
0,31
1
1,16
9,77
6
1,19
2,01
0 O
ther
mis
cella
neou
s ta
xes
970,
841
154,
886
182,
573
132,
064
157,
516
148,
115
119,
546
114,
013
113,
753
127,
458
Sta
te re
imbu
rsem
ent o
f ele
ctric
ity d
ereg
ulat
ion
6,09
6,57
4
5,42
5,07
9
6,09
6,57
4
6,09
6,57
4
6,09
6,57
4
5,89
7,43
7
-
-
-
-
Inte
rest
and
div
iden
ds
1,57
1,30
7
460,
472
2,36
6,40
3
4,06
6,07
5
6,35
8,18
9
5,87
1,25
8
3,36
2,35
3
933,
632
442,
937
1,13
1,21
3 M
isce
llane
ous
(1,1
18,9
00)
(2
,111
,893
)
(2,0
44,2
03)
(2
,166
,490
)
(2,4
91,0
52)
(2
,832
,139
)
(6,4
88,1
95)
(3
,103
,889
)
(2,6
75,9
80)
(2
,949
,253
)Su
btot
al g
over
nmen
tal a
ctiv
ities
reve
nues
126,
855,
512
143,
517,
323
163,
228,
714
173,
162,
948
183,
666,
698
192,
592,
484
184,
684,
448
197,
804,
423
224,
162,
027
218,
785,
104
Busi
ness
-type
act
iviti
es:
Stat
e re
imbu
rsem
ent o
f ele
ctric
der
egul
atio
n34
9,53
9
51
,180
19
2,31
5
37
2,38
2
-
-
-
-
-
-M
isce
llane
ous
1,72
7,03
1
2,11
1,89
3
2,04
4,20
3
2,16
6,49
0
3,00
7,69
8
3,17
5,38
8
6,61
6,47
0
3,19
5,03
9
2,80
9,73
1
3,02
2,09
7Su
btot
al b
usin
ess-
type
act
iviti
es re
venu
es2,
076,
570
2,
163,
073
2,
236,
518
2,
538,
872
3,
007,
698
3,
175,
388
6,
616,
470
3,
195,
039
2,
809,
731
3,
022,
097
Tota
l prim
ary
gove
rnm
ent r
even
ues
128,
932,
082
$
145,
680,
396
$
165,
465,
232
$
175,
701,
820
$
186,
674,
396
$
195,
767,
872
$
191,
300,
918
$
200,
999,
462
$
226,
971,
758
$
221,
807,
201
$
Chan
ge in
net
pos
ition
Gov
ernm
enta
l act
iviti
es3,
084,
657
$
(3
,060
,633
)$
19,6
21,4
62$
20,4
52,3
93$
22,7
60,7
04$
12,2
21,9
79$
(15,
867,
485)
$
(13,
771,
769)
$
12,6
13,4
55$
188,
991
$Bu
sine
ss-ty
pe a
ctiv
ities
(708
,522
)
69
8,44
1
(4
82,8
20)
(755
,352
)
29
1,61
9
59
9,68
1
4,
009,
136
(1
74,9
86)
(481
,549
)
(2
92,4
92)
Tota
l prim
ary
gove
rnm
ent
2,37
6,13
5$
(2,3
62,1
92)
$
19
,138
,642
$
19
,697
,041
$
23
,052
,323
$
12
,821
,660
$
(1
1,85
8,34
9)$
(1
3,94
6,75
5)$
12
,131
,906
$
(1
03,5
01)
$
NO
TES:
(1) N
et (e
xpen
se)/r
even
ue is
the
diffe
renc
e be
twee
n th
e ex
pens
es a
nd p
rogr
am re
venu
es o
f a fu
nctio
n or
pro
gram
. It
indi
cate
s th
e de
gree
whi
ch a
func
tion
or p
rogr
am is
sup
porte
d w
ith it
s ow
n fe
es
and
prog
ram
-spe
cific
gra
nts
vers
us it
s re
lianc
e up
on fu
ndin
g fro
m ta
xes
and
grea
ter t
han
prog
ram
reve
nues
and
ther
efor
e ge
nera
l rev
enue
s ot
her g
ener
al re
venu
es.
Num
bers
in p
aren
thes
es in
dica
te
that
exp
ense
s w
ere
need
ed to
fina
nce
that
func
tion
or p
rogr
am.
Num
bers
with
out p
aren
thes
es m
ean
that
pro
gram
reve
nues
wer
e m
ore
than
suf
ficie
nt to
cov
er e
xpen
ses.
(2) G
over
nmen
t-wid
e ne
t ass
et in
form
atio
n is
repo
rted
on th
e ac
crua
l bas
is o
f acc
ount
ing.
(3) N
ine
year
s of
sta
tistic
al d
ata
is re
porte
d on
this
sch
edul
e. P
rior t
o G
ASB
34, t
he c
ount
y di
d no
t mai
ntai
n th
is ty
pe o
f inf
orm
atio
n.
-�0�-
Coun
ty C
omm
issi
oner
s of
Cal
vert
Coun
ty, M
aryl
and
Gen
eral
Tax
Rev
enue
s - G
over
nmen
tal A
ctiv
ities
Last
Ten
Fis
cal Y
ears
(acc
rual
bas
is o
f acc
ount
ing)
(una
udite
d, s
ee re
late
d no
tes
belo
w)
Sche
dule
3
FY20
03FY
2004
FY20
05FY
2006
FY20
07FY
2008
FY20
09FY
2010
FY20
11FY
2012
Rea
l and
per
sona
l pro
perty
taxe
s65
,763
,330
$
70,8
20,3
49$
78
,790
,203
$
86,0
51,2
17$
94
,728
,796
$
106,
121,
819
$ 12
2,91
8,02
0$
133,
981,
114
$ 14
6,79
0,79
9$
146,
449,
619
$In
com
e ta
xes
40,1
61,4
99
46
,585
,767
54,3
86,9
67
55
,625
,569
59,0
64,8
89
62
,153
,000
58,3
70,2
05
56
,136
,128
62,6
68,4
88
64
,199
,044
Adm
issi
on a
nd a
mus
emen
ts40
,472
198,
063
269,
049
293,
735
107,
310
23,3
77
30
,212
25,0
09
25
,803
30,9
38
R
ecor
datio
n9,
067,
979
11
,322
,287
13,6
30,1
56
14
,481
,819
11,6
64,6
98
9,
114,
661
5,
799,
985
5,
690,
348
5,
330,
746
5,
180,
576
Tr
aile
r par
ks15
4,84
4
15
4,88
5
14
9,03
6
13
2,06
3
15
7,51
6
14
8,11
5
11
9,54
6
11
4,01
3
11
3,75
3
12
7,45
8
H
otel
(2)
-
528,
181
498,
039
519,
919
644,
328
785,
519
763,
877
693,
265
815,
416
753,
981
Hig
hway
use
r rev
enue
(3)
4,47
0,53
8
3,63
2,85
8
4,61
1,14
2
5,68
3,14
7
5,94
7,23
4
5,70
1,04
4
5,07
7,19
5
256,
759
410,
452
281,
653
Fran
chis
e55
1,66
7
61
8,10
5
71
4,44
6
77
8,41
6
89
2,70
7
98
4,34
2
1,
078,
080
1,
110,
311
1,
169,
776
1,
192,
010
T
otal
Tax
e s12
0,21
0,32
9$
133,
860,
495
$ 15
3,04
9,03
8$
163,
565,
885
$17
3,20
7,47
8$
185,
031,
877
$ 19
4,15
7,12
0$
198,
006,
947
$21
7,32
5,23
3$
218,
215,
279
$
NO
TES:
(1) G
over
nmen
t-wid
e ge
nera
l tax
reve
nue
info
rmat
ion
is re
porte
d on
the
accr
ual b
asis
of a
ccou
ntin
g.(2
) Cal
vert
Cou
nty
bega
n co
llect
ing
hote
l tax
in F
Y200
4.(3
) Sig
nific
ant H
ighw
ay U
ser r
even
ue d
ecre
ases
by
the
stat
e st
artin
g in
FY2
010.
-�0�-
Coun
ty C
omm
issi
oner
s of
Cal
vert
Coun
ty, M
aryl
and
Fund
Bal
ance
of G
over
nmen
tal F
unds
Last
Ten
Fis
cal Y
ears
(mod
ified
acc
rual
bas
is o
f acc
ount
ing)
(una
udite
d, s
ee re
late
d no
tes
belo
w)
Sche
dule
4
FY20
03FY
2004
FY20
05FY
2006
FY20
07FY
2008
FY20
09FY
2010
FY20
11(2
)FY
2012
(2)
Gen
eral
Fun
d(p
rior t
o G
ASB
54)
Rese
rved
4,62
5,00
4$
4,
968,
812
$
5,38
3,57
1$
5,
839,
319
$
9,19
5,51
8$
12
,562
,828
$
11,4
52,7
88$
10
,438
,949
$
-$
-$
Unre
serv
ed U
ndes
igna
ted
38,8
83,8
63
39
,447
,501
47,7
19,8
07
56
,039
,767
37,6
71,2
95
37
,969
,096
30,7
03,1
97
28
,650
,914
-
-
Unde
signa
ted
-
-
-
-
16,5
52,0
00
17
,710
,000
17,6
20,0
00
18
,159
,691
-
-
(pos
t GAS
B 54
)No
n-sp
enda
ble
-
-
-
-
-
-
-
-
9,55
4,96
5
9,
545,
194
Rest
ricte
d-
-
-
-
-
-
-
-
64
,861
-
Com
mitt
ed-
-
-
-
-
-
-
-
20
,913
,418
21,4
30,2
48As
signe
d-
-
-
-
-
-
-
-
9,
246,
000
8,21
8,61
9Un
assig
ned
-
-
-
-
-
-
-
-
26,7
63,8
23
27
,321
,625
Tota
l Gen
eral
Fun
d43
,508
,867
$
44,4
16,3
13$
53
,103
,378
$ 61
,879
,086
$ 63
,418
,813
$ 68
,241
,924
$
59,7
75,9
85$
57,2
49,5
54$
66,5
43,0
67$
66,5
15,6
86$
All o
ther
gov
ernm
enta
l fun
ds(p
rior t
o G
ASB
54)
Rese
rved
258,
355
$
86
,895
$
132,
545
$
45
,190
$
50,5
49$
7,
763,
481
$
11,9
68,4
98$
13
,099
,967
$
-$
-$
Unre
serv
ed, r
epor
ted
in:
Spec
ial r
even
ue fu
nds
11,2
50,1
73
17
,421
,221
15,7
17,9
39
13
,174
,434
17,1
70,6
51
12
,666
,097
6,74
0,23
5
6,
348,
586
-
-
Capi
tal p
roje
cts
fund
s44
,647
,155
27,2
67,2
49
32
,317
,075
31,9
75,7
00
45
,555
,272
51,5
00,0
54
44
,067
,347
34,3
30,0
86
-
-
(pos
t GAS
B 54
)No
nspe
ndab
le10
,354
,760
7,17
0,05
7Re
stric
ted
3,75
0
2,11
4,57
9Co
mm
itted
6,76
8,47
1
9,
605,
033
Assig
ned
44,7
21,7
70
34
,586
,829
Unas
signe
d-
-
To
tal a
ll oth
er g
over
nmen
tal f
unds
56,1
55,6
83$
44
,775
,365
$
48,1
67,5
59$
45,1
95,3
24$
62,7
76,4
72$
71,9
29,6
32$
62
,776
,080
$ 53
,778
,639
$ 61
,848
,751
$ 53
,476
,498
$
NOTE
S:(1
) Fun
d ba
lanc
e in
form
atio
n fo
r gov
ernm
enta
l fun
ds is
repo
rted
on th
e m
odifie
d ac
crua
l bas
is of
acc
ount
ing.
(2) C
alve
rt Co
unty
impl
emen
ted
GAS
B 54
sta
rting
with
FY2
011.
-�0�-
Coun
ty C
omm
issi
oner
s of
Cal
vert
Coun
ty, M
aryl
and
Chan
ges
in F
und
Bala
nce
of G
over
nmen
tal F
unds
Last
Ten
Fis
cal Y
ears
(mod
ified
acc
rual
bas
is o
f acc
ount
ing)
(una
udite
d, s
ee re
late
d no
tes
belo
w)
Sche
dule
5
FY20
03FY
2004
FY20
05FY
2006
FY20
07FY
2008
FY20
09FY
2010
FY20
11FY
2012
REVE
NUES
Taxe
s12
3,64
2,16
1$
13
8,45
6,05
8$
159,
070,
686
$
16
8,86
8,17
4$
177,
201,
666
$
18
8,24
1,05
6$
196,
977,
670
$
200,
892,
163
$
21
9,76
2,77
3$
220,
823,
988
$
Li
cens
es a
nd p
erm
its18
8,95
3
169,
960
21
6,01
4
232,
123
25
7,51
8
281,
266
23
8,14
3
32
8,67
1
292,
301
30
4,57
1
Inte
rgov
ernm
enta
l18
,128
,762
15
,855
,731
15
,758
,563
18
,350
,527
16
,779
,720
15
,069
,474
12
,250
,124
10
,635
,443
10
,939
,016
10
,137
,812
C
harg
es fo
r ser
vice
s3,
118,
582
3,23
6,32
3
3,
294,
505
2,90
0,48
7
3,
202,
758
3,67
0,16
7
3,
768,
064
3,
585,
775
3,33
7,11
1
3,
303,
365
Fine
s an
d fo
rfeitu
res
236,
545
27
3,92
0
252,
017
32
8,28
0
289,
052
35
6,04
9
319,
280
340,
061
59
8,17
5
477,
806
M
isce
llane
ous
5,18
8,80
7
3,
949,
023
7,11
0,81
6
8,
479,
435
12,0
16,6
03
12,6
25,9
51
10,7
39,9
18
8,12
3,83
1
7,
147,
229
15,4
96,2
37
Tota
l rev
enue
s15
0,50
3,81
0
16
1,94
1,01
5
18
5,70
2,60
1
19
9,15
9,02
6
20
9,74
7,31
7
22
0,24
3,96
3
22
4,29
3,19
9
22
3,90
5,94
4
24
2,07
6,60
5
25
0,54
3,77
9
EXPE
NDIT
URES
Gen
eral
gov
ernm
ent
11,3
12,2
44
11,8
02,0
03
12,7
64,6
13
14,9
70,7
98
15,3
49,8
33
16,7
36,5
65
16,0
78,9
13
15,1
89,9
84
15,5
11,1
72
16,1
64,7
78
Publ
ic s
afet
y16
,070
,048
16
,851
,428
17
,999
,869
19
,319
,261
21
,663
,919
24
,008
,176
26
,237
,282
25
,987
,152
26
,616
,262
27
,372
,685
Pu
blic
wor
ks7,
793,
754
7,16
1,35
2
6,
917,
035
7,71
5,59
2
10
,599
,520
7,
656,
572
11,2
24,9
01
10,9
84,7
25
9,10
3,25
2
9,
758,
758
Hea
lth a
nd h
ospi
tals
2,61
3,22
4
2,
569,
591
2,55
6,87
7
2,
539,
528
2,60
0,70
7
2,
667,
985
2,81
9,93
7
2,77
4,76
8
2,
627,
530
2,76
7,52
0
So
cial
ser
vice
s6,
411,
220
6,98
2,93
7
7,
184,
652
7,74
6,18
3
7,
672,
234
8,34
7,84
4
8,
765,
417
8,
957,
279
8,31
4,07
6
8,
351,
728
Educ
atio
n - o
ther
1,80
2,88
2
1,
624,
356
2,02
0,19
4
2,
391,
360
2,52
1,89
5
2,
660,
762
2,85
6,29
8
3,03
1,58
6
3,
268,
987
3,49
0,52
2
Bo
ard
of E
duca
tion
78,0
87,4
40
92,8
92,3
36
87,3
72,3
70
90,5
52,7
91
95,1
04,1
49
97,7
82,3
59
110,
611,
519
114,
137,
687
105,
010,
110
109,
059,
947
Rec
reat
ion
and
cultu
re5,
971,
106
6,57
3,89
9
6,
817,
349
7,48
8,24
4
8,
266,
634
8,90
0,44
3
9,
783,
163
9,
916,
945
10,9
87,1
98
11,2
02,6
74
Con
serv
atio
n of
nat
ural
reso
urce
s28
9,60
9
770,
448
1,
050,
019
3,23
0,18
7
1,
302,
107
1,68
1,50
7
1,
308,
871
1,
034,
321
2,61
0,09
4
3,
597,
704
Urb
an d
evel
opm
ent a
nd h
ousi
ng80
3,42
9
914,
646
94
8,48
7
1,08
3,34
9
1,
124,
533
1,23
9,21
4
1,
978,
608
1,
982,
486
1,91
4,85
7
2,
003,
182
Econ
omic
dev
elop
men
t86
7,64
2
1,23
5,26
5
1,
169,
234
1,21
1,75
2
1,
215,
905
1,06
2,99
5
1,
205,
616
1,
209,
744
1,23
4,89
1
1,
273,
769
Mis
cella
neou
s8,
641,
126
9,73
3,41
1
10
,427
,891
12
,457
,865
14
,370
,535
18
,279
,910
19
,880
,661
18
,890
,672
23
,205
,341
29
,522
,254
C
apita
l pro
ject
s11
,443
,746
12
,104
,557
11
,163
,377
20
,124
,272
24
,649
,617
20
,687
,852
24
,807
,060
21
,249
,637
16
,350
,785
21
,690
,541
D
ebt s
ervi
cePr
inci
pal r
etire
men
t5,
187,
841
5,14
1,94
6
6,
920,
962
7,94
0,39
1
8,
724,
561
9,96
7,11
1
11
,513
,920
12
,024
,609
11
,233
,501
10
,971
,736
In
tere
st2,
406,
741
2,85
3,81
9
3,
235,
987
3,31
7,09
2
3,
441,
562
4,32
6,30
6
4,
807,
328
4,
851,
414
4,63
1,14
3
5,
108,
954
Tota
l exp
endi
ture
s15
9,70
2,05
2
17
9,21
1,99
4
17
8,54
8,91
6
20
2,08
8,66
5
21
8,60
7,71
1
22
6,00
5,60
1
25
3,87
9,49
4
25
2,22
3,00
9
24
2,61
9,19
9
26
2,33
6,75
2
Exce
ss (d
efic
ienc
y) o
f rev
enue
s ov
er e
xpen
ditu
res
(9,1
98,2
42)
(1
7,27
0,97
9)
7,15
3,68
5
(2
,929
,639
)
(8,8
60,3
94)
(5
,761
,638
)
(29,
586,
295)
(28,
317,
065)
(5
42,5
94)
(11,
792,
973)
OTH
ER F
INAN
CING
SO
URCE
S (U
SES)
Proc
eeds
from
bon
d is
suan
ce45
,527
,719
8,
910,
000
6,99
5,00
0
10
,885
,000
29
,780
,000
22
,250
,000
18
,485
,000
24
,344
,988
19
,256
,000
5,
773,
720
Amou
nt d
epos
ited
in re
fund
ing
escr
ow(1
4,33
4,95
2)
-
-
-
-
-
-
(5,1
91,3
44)
-
-
Pr
emiu
m o
f iss
uanc
e of
deb
t-
-
-
-
69
2,32
2
290,
047
50
,806
74
3,43
6
1,32
6,19
9
56
8,87
2
Ref
undi
ng b
onds
issu
ed-
-
-
-
-
-
-
-
-
21
,785
,000
Pr
emiu
m o
n re
fund
ing
bond
s is
sued
-
-
-
-
-
-
-
-
-
2,42
2,13
9
Am
ount
dep
osite
d in
refu
ndin
g es
crow
-
-
-
-
-
-
-
-
-
(24,
207,
139)
Fo
rgiv
enes
s of
deb
t42
8,04
9
-
-
-
-
-
-
-
-
-
Tran
sfer
s in
- ot
her
15,1
38,7
68
13,9
31,3
33
21,7
82,8
80
18,5
65,3
70
15,9
20,1
76
10,1
80,7
40
14,0
92,6
43
10,2
96,0
56
11,3
55,5
42
11,9
66,3
87
Tran
sfer
s ou
t - o
ther
(16,
899,
797)
(1
6,04
3,22
6)
(23,
852,
306)
(2
0,71
7,25
8)
(18,
411,
229)
(1
3,01
2,87
9)
(20,
631,
644)
(13,
399,
945)
(1
4,03
1,52
2)
(14,
915,
640)
To
tal o
ther
fina
ncin
g so
urce
s (u
ses)
29,8
59,7
87
6,79
8,10
7
4,
925,
574
8,73
3,11
2
27
,981
,269
19
,707
,908
11
,996
,805
16
,793
,191
17
,906
,219
3,
393,
339
Net
cha
nge
in fu
nd b
alan
ces
20,6
61,5
45$
(10,
472,
872)
$
12
,079
,259
$
5,
803,
473
$
19
,120
,875
$
13
,946
,270
$
(1
7,58
9,49
0)$
(1
1,52
3,87
2)$
17,3
63,6
25$
(8,3
99,6
34)
$
Deb
t ser
vice
as
a pe
rcen
tage
of n
onca
pita
l exp
endi
ture
s5.
33%
5.02
%6.
32%
6.93
%7.
18%
7.64
%8.
80%
8.76
%7.
50%
6.86
%(3
)(3
)(3
)(3
)(3
)(3
)(3
)(3
)(3
)N
OTE
S:(1
) Gov
ernm
enta
l fun
d in
form
atio
n is
repo
rted
on th
e m
odifi
ed a
ccru
al b
asis
of a
ccou
ntin
g.(1
) Deb
t ser
vice
repr
esen
ts d
ebt s
ervi
ce p
rinci
pal,
inte
rest
and
any
pro
ceed
s of
bon
d is
suan
ce.
(2) N
onca
pita
l exp
endi
ture
s co
mes
from
the
reco
ncilia
tion
of th
e st
atem
ent o
f rev
enue
s, e
xpen
ditu
res
and
chan
ges
in fu
nd b
alan
ce o
f the
gov
ernm
enta
l fun
ds to
the
stat
emen
t of a
ctiv
ities
. (3
) Cal
cula
tion
base
d on
Exp
ense
s m
inus
Cap
ital O
utla
ys p
g. 2
1 di
vide
d by
deb
t ser
vice
.
The follow�ng schedules conta�n �nformat�on to help the reader access the government’s most significant local revenue source, property taxes.
The revenue capac�ty schedules are: Assessed and est�mated actual value of taxable propertyD�rect and overlapp�ng real property tax ratesPr�nc�pal property taxpayersSummary of property tax lev�es and collect�ons
••••
COUNTY COMMISSIONERS OF CALVERT COUNTYCALVERT COUNTY, MARYLAND
REVENUE CAPACITYJUNE �0, �0��
-�0�-
Coun
ty C
omm
issi
oner
s of
Cal
vert
Coun
ty, M
aryl
and
Asse
ssed
and
Est
imat
ed A
ctua
l Val
ue o
f Tax
able
Pro
perty
Last
Ten
Fis
cal Y
ears
(una
udite
d, s
ee re
late
d no
tes
belo
w)
Sche
dule
6
% T
axab
le
Rea
l Pro
perty
Pers
onal
Pro
perty
Tota
lAs
sess
ed to
Taxa
ble
Taxa
ble
tota
lFi
scal
Asse
ssed
Ex
empt
Asse
ssed
Dire
ctAs
sess
ed
Estim
ated
Dire
ctAs
sess
ed
Asse
ssed
Estim
ated
Dire
ctEs
timat
ed
Year
Valu
ePr
oper
tyVa
lue
Rat
eVa
lue
Actu
al V
alue
Rat
eVa
lue
Valu
eAc
tual
Val
ueR
ate
Actu
al V
alue
2003
6,07
2,54
9,17
9
495,
002,
976
5,57
7,54
6,20
3
0.89
2
82
2,60
6,88
0
82
2,60
6,88
0
2.
23
6,89
5,15
6,05
9
6,40
0,15
3,08
3
6,89
5,15
6,05
9
1.06
40
92
.82%
2004
6,53
1,07
6,13
5
563,
391,
239
5,96
7,68
4,89
6
0.89
2
88
2,39
3,92
0
88
2,39
3,92
0
2.
23
7,41
3,47
0,05
5
6,85
0,07
8,81
6
7,41
3,47
0,05
5
1.06
44
92
.40%
2005
7,09
3,44
0,83
5
570,
848,
991
6,52
2,59
1,84
4
0.89
2
1,
026,
470,
460
1,
026,
470,
460
2.
23
8,11
9,91
1,29
5
7,54
9,06
2,30
4
8,11
9,91
1,29
5
1.07
39
92
.97%
2006
7,95
0,40
8,15
3
594,
754,
848
7,35
5,65
3,30
5
0.89
2
1,
087,
505,
840
1,
087,
505,
840
2.
23
9,03
7,91
3,99
3
8,44
3,15
9,14
5
9,03
7,91
3,99
3
1.06
43
93
.42%
2007
9,28
6,51
2,82
0
656,
267,
485
8,63
0,24
5,33
5
0.89
2
1,
123,
614,
063
1,
123,
614,
063
2.
23
10,4
10,1
26,8
83
9,
753,
859,
398
10
,410
,126
,883
1.04
61
93
.70%
2008
11,4
64,5
56,2
20
788,
968,
756
10,6
75,5
87,4
64
0.
892
1,05
2,40
5,75
0
1,05
2,40
5,75
0
2.23
12
,516
,961
,970
11,7
27,9
93,2
14
12
,516
,961
,970
1.01
21
93
.70%
2009
(1)
14,2
23,3
48,9
81
888,
112,
994
13,3
35,2
35,9
87
0.
892
(1)
470,
449,
610
470,
449,
610
2.23
14
,693
,798
,591
13,8
05,6
85,5
97
14
,693
,798
,591
0.93
76
93
.96%
2010
15,5
71,9
90,0
76
987,
183,
072
14,5
84,8
07,0
04
0.
892
504,
475,
135
504,
475,
135
2.23
16
,076
,465
,211
15,0
89,2
82,1
39
16
,076
,465
,211
0.93
67
93
.86%
2011
14,3
34,9
49,4
86
1,02
2,42
0,83
1
13,3
12,5
28,6
55
0.
892
874,
351,
230
874,
351,
230
2.23
15
,209
,300
,716
14,1
86,8
79,8
85
15
,209
,300
,716
0.97
45
93
.28%
2012
14,4
45,0
96,1
54
1,03
0,93
6,26
9
13,4
14,1
59,8
85
0.
892
921,
126,
040
921,
126,
040
2.23
15
,366
,222
,194
14,3
35,2
85,9
25
15
,366
,222
,194
0.97
80
93
.29%
NO
TES:
(1) A
sig
nific
ant p
ortio
n of
Con
stel
latio
n En
ergy
's as
sess
able
bas
e w
as re
clas
sifie
d fro
m p
erso
nal p
rope
rty to
real
pro
perty
.
Sour
ce: S
tate
of M
aryl
and,
Dep
artm
ent o
f Ass
esm
ents
and
Tax
atio
n
-�0�-
County Commissioners of Calvert County, MarylandDirect and Overlapping Property Tax Rates (Per $100 of Assessed Value)Last Ten Fiscal Years
(unaudited, see related notes below)Schedule 7
County Town County TownRate (1) Rate (1) Rate (1) Rate (1)
Total Town of Town of TotalFiscal Calvert Town of Town of Direct and Chesapeake Chesapeake Direct andYear County North Beach North Beach Overlapping Beach Beach Overlapping2003 0.892 0.556 0.72 1.276 0.556 0.50 1.062004 0.892 0.556 0.72 1.276 0.556 0.50 1.062005 0.892 0.556 0.72 1.276 0.556 0.50 1.062006 0.892 0.556 0.72 1.276 0.556 0.50 1.062007 0.892 0.556 0.67 1.226 0.556 0.44 1.002008 0.892 0.556 0.67 1.226 0.556 0.44 1.002009 0.892 0.556 0.61 1.166 0.556 0.37 0.932010 0.892 0.556 0.61 1.166 0.556 0.37 0.932011 0.892 0.556 0.63 1.186 0.556 0.37 0.932012 0.892 0.556 0.63 1.186 0.556 0.36 0.92
NOTES:(1) Towns of North Beach and Chesapeake Beach pay only the overlapping rates for County and Townrespectively.
Overlapping RatesOverlapping Rates
-�0�-
Coun
ty C
omm
issi
oner
s of
Cal
vert
Coun
ty, M
aryl
and
Prin
cipa
l Pro
perty
Tax
paye
rsCu
rren
t Yea
r and
Nin
e Ye
ars
Ago
(una
udite
d, s
ee re
late
d no
tes
belo
w)
Sche
dule
8
Perc
enta
ge o
fPe
rcen
tage
of
Taxa
ble
Tota
l Tax
able
Taxa
ble
Tota
l Tax
able
Nam
e of
Tax
paye
r A
sses
ed V
alue
(1)
Rank
Asse
ssed
Val
ue A
sses
ed V
alue
(2)
Rank
Asse
ssed
Val
ueDo
min
ion
(Cov
e Po
int)
679,
374,
790
$
(3)
14.
74%
88,0
55,9
00$
2
1.38
%Co
nste
llatio
n En
ergy
Gro
up40
5,69
9,27
0
2
2.83
%57
0,09
2,35
0
18.
91%
Sout
hern
Mar
yland
Ele
ctric
Co.
36,4
34,6
00
30.
25%
40,5
51,2
30
3
0.63
%As
bury
-Sol
omon
s31
,374
,500
4
0.22
%32
,743
,600
50.
51%
Fox
Run
Ltd.
Par
tner
ship
28,6
52,8
00
50.
20%
23,5
79,2
00
6
Hold
iay
Inn
- Sol
omon
s26
,557
,100
6
0.19
%17
,886
,400
70.
28%
Dunk
irk G
atew
ay24
,077
,500
7
0.17
%Ve
rizon
23,7
38,2
30
80.
17%
36,2
15,4
30
4
0.57
%M
arke
t Squ
are
Shop
ping
Cen
ter
16,1
17,7
33
90.
11%
Dunk
irk M
arke
t Pla
ce11
,438
,700
10
0.08
%8,
527,
800
90.
13%
Calve
rt Co
unty
Hos
pita
l7,
901,
000
100.
12%
Town
Squ
are
Shop
ping
Cen
ter
9,01
8,60
0
8
0.14
%1,
283,
465,
223
$
8.
95%
834,
571,
510
$
12
.67%
NOTE
S:(1
) Sou
rce:
Mar
yland
Sta
te D
epar
tmen
t of A
sses
smen
ts a
nd T
axat
ion
FY12
FY03
-�0�-
County Commissioners of Calvert County, MarylandSummary of Property Tax Levies and CollectionsLast Ten Fiscal Years (unaudited)Schedule 9
Total Tax Collections inFiscal Levy for Percent Subsequent PercentYear Fiscal Year Amount of levy Years Amount of Levy2003 66,188,158 64,420,874 97.33% 1,693,931 66,114,805 99.89%2004 71,093,332 69,525,551 97.79% 1,464,226 70,989,777 99.85%2005 78,990,817 77,613,438 98.26% 1,294,300 78,907,738 99.89%2006 87,749,160 86,285,379 98.33% 1,308,330 87,593,709 99.82%2007 99,359,697 97,787,042 98.42% 1,377,991 99,165,033 99.80%2008 115,850,743 113,954,907 98.36% 1,842,551 115,797,458 99.95%2009 126,099,233 123,501,219 97.94% 2,094,900 125,596,119 99.60%2010 137,446,533 133,596,703 97.20% 2,468,876 136,065,579 99.00%2011 134,047,010 130,037,865 97.01% 2,578,268 132,616,133 98.93%2012 136,809,979 134,014,749 97.96% 4,644,889 138,659,638 101.35%
Total Collections to DateFiscal Year of the LevyCollected within the
“THIS PAGE LEFT INTENTIONALLY BLANK”
COUNTY COMMISSIONERS OF CALVERT COUNTYCALVERT COUNTY, MARYLAND
DEBT CAPACITYJUNE �0, �0��
The follow�ng schedules present �nformat�on to help the reader access the affordab�l�ty of government’s current levels of outstand�ng debt and government’s ab�l�ty to �ssue add�t�onal debt �n the future.
The debt capac�ty schedules are: Rat�os of outstand�ng debt by typeRat�os of net general bonded debt per cap�taPledged-revenue coverage
•••
-�0�-
Coun
ty C
omm
issi
oner
s of
Cal
vert
Coun
ty, M
aryl
and
Ratio
s of
Out
stan
ding
Deb
t by
Type
La
st T
en F
isca
l Yea
rs(in
thou
sand
s of
dol
lars
, exc
ept p
er c
apita
)(u
naud
ited,
see
rela
ted
note
s be
low
)Sc
hedu
le 1
0
Gen
eral
Gen
eral
Tota
lPe
rcen
tage
Deb
tFi
scal
Obl
igat
ion
Offi
ceN
otes
Obl
igat
ion
Out
stan
ding
of P
erso
nal
Per
Year
Bond
sBu
ildin
gLe
vera
ging
Mis
c.Pa
yabl
eBo
nds
Deb
tIn
com
e (a
)Po
pula
tion
Cap
ita20
0370
,740
4,
295
5,
589
3,11
7
10,1
57
7,
253
101,
151
3.57
%81
,600
1,24
020
0475
,290
3,
830
5,
931
2,79
7
9,88
5
6,71
5
10
4,44
8
3.
42%
83,4
00
1,
252
2005
76,1
78
3,34
5
5,93
1
2,
528
9,
461
6,
055
103,
498
3.15
%84
,900
1,21
920
0679
,973
2,
840
6,
882
2,17
0
8,84
1
5,16
9
10
5,87
5
3.
03%
86,2
00
1,
228
2007
101,
907
2,32
0
7,96
1
1,
800
8,
248
4,
057
126,
293
3.40
%87
,100
1,45
020
0811
5,09
9
1,
775
10
,414
1,42
1
8,17
6
3,01
8
13
9,90
3
3.
55%
87,7
00
1,
595
2009
123,
013
1,21
0
10,4
14
1,
029
8,
152
1,
927
145,
745
3.68
%88
,100
1,65
420
1012
6,01
9
62
0
10
,414
621
7,61
2
3,87
1
14
9,15
7
3.
63%
88,7
37
1,
681
2011
134,
451
-
10,6
12
19
8
6,
934
7,
335
159,
530
N/A
(2)
89,0
00
1,
792
2012
129,
402
-
7,93
3
15
9
6,
413
10
,823
154,
730
N/A
(2)
89,9
51
1,
720
NO
TES:
(1) S
ee th
e D
emog
raph
ic a
nd E
cono
mic
Sta
tistic
s sc
hedu
le fo
r per
sona
l inc
ome.
(2) N
/A -
curre
nt d
ata
is n
ot a
vaila
ble
at th
is ti
me.
Gov
ernm
enta
l Act
ivity
Busi
ness
Typ
e Ac
tivity
-�0�-
Coun
ty C
omm
issi
oner
s of
Cal
vert
Coun
ty, M
aryl
and
Ratio
of N
et G
ener
al B
onde
d De
bt to
Ass
esse
d Va
lue
and
Ne
t Bon
ded
Debt
Per
Cap
itaLa
st T
en F
isca
l Yea
rs(u
naud
ited)
Sche
dule
11
Taxa
ble
Taxa
ble
Rat
io o
f Net
Asse
ssed
Val
ueAs
sess
ed V
alue
Self
Net
Bond
ed D
ebt
Net
Rea
l & P
erso
nal
Fisc
alR
eal &
Per
sona
lG
ross
Su
ppor
ting
Bond
edto
Ass
esse
dBo
nded
Deb
tPr
oper
tyYe
arPo
pula
tion
Prop
erty
Bond
ed D
ebt
Deb
t (1)
Deb
tVa
lue
Per C
apita
Per C
apita
2003
81,6
00
6,
400,
153,
083
78
,151
,519
4,
665,
831
73,4
85,6
88
1.
15%
901
78
,433
2004
83,4
00
6,
850,
078,
816
81
,916
,937
4,
175,
533
77,7
41,4
04
1.
13%
932
82
,135
2005
84,9
00
7,
549,
062,
304
82
,051
,874
3,
697,
306
78,3
54,5
68
1.
04%
923
88
,917
2006
86,2
00
8,
193,
159,
145
99
,150
,704
3,
158,
657
95,9
92,0
47
1.
17%
1,11
4
95
,048
2007
87,1
00
9,
753,
859,
398
11
8,26
9,86
8
2,
606,
446
115,
663,
422
1.
19%
1,32
8
11
1,98
5
2008
87,7
00
11
,464
,556
,220
12
9,31
1,37
4
2,
035,
916
127,
275,
458
1.
11%
1,45
1
13
0,72
5
2009
88,1
00
13
,805
,685
,597
13
5,33
8,42
6
1,
456,
138
133,
882,
288
0.
97%
1,52
0
15
6,70
5
2010
88,7
37
15
,089
,282
,139
13
1,13
1,13
5
82
9,85
6
130,
301,
279
0.
86%
1,46
8
17
0,04
5
2011
89,0
00
14
,186
,879
,885
14
1,78
5,91
6
18
4,32
5
141,
601,
591
1.
00%
1,59
1
15
9,40
3
2012
89,9
51
14
,335
,285
,925
14
0,22
5,70
1
15
8,79
4
140,
066,
907
0.
98%
1,55
7
15
9,36
8
NO
TES:
(1) -
Incl
udes
Wat
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prov
emen
t, Sh
ore
Eros
ion
and
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e O
ffice
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te O
ffice
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ldin
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mpl
eted
in F
Y201
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Coun
ty C
omm
issi
oner
s of
Cal
vert
Coun
ty, M
aryl
and
Pled
ged-
Reve
nue
Cove
rage
Last
Ten
Fis
cal Y
ears
(una
udite
d)Sc
hedu
le 1
2
Stat
e O
ffice
Shor
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ater
way
Fisc
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prov
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19,9
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-
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366,
837
8,
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-
0.84
2004
632,
106
465,
000
16
7,10
6
1.00
27,0
12
19
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-
1.36
6,83
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148,
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23,3
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-
1.
136,
837
8,
122
-
0.84
2006
634,
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12
9,50
9
1.00
26,2
58
23
,322
-
1.13
6,83
7
6,67
6-
1.02
2007
629,
261
520,
000
10
9,26
1
1.00
26,2
58
23
,322
-
1.13
-
-
-
0.00
2008
632,
621
545,
000
87
,621
1.00
26,2
58
23
,322
-
1.13
-
-
-
0.00
2009
629,
515
565,
000
64
,515
1.00
26,2
58
23
,322
-
1.13
-
-
-
0.00
2010
629,
965
590,
000
39
,965
1.00
26,2
58
23
,322
-
1.13
-
-
-
0.00
2011
-
-
-
-
26
,258
23,3
22-
1.
13-
-
-0.
0020
12-
-
-
-
26,2
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23
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1.13
-
-
-
0.00
(1) S
tate
Offi
ce B
uild
ing
agre
emen
t was
com
plet
ed in
FY2
010.
Wat
erwa
y Im
prov
emen
t Bon
ds
Debt
Ser
vice
Debt
Ser
vice
Stat
e O
ffice
Bui
ldin
g (1
)
Debt
Ser
vice
Shor
e Er
osio
n Bo
nds
The follow�ng schedules offer demograph�c and econom�c �nd�cators to help the reader understand the environment within which the government’s financial activities take place, and to understand econom�c trends.
The demograph�c and econom�c schedules are:Demograph�c and econom�c stat�st�csPr�nc�pal employers
••
COUNTY COMMISSIONERS OF CALVERT COUNTYCALVERT COUNTY, MARYLAND
DEMOGRAPHIC AND ECONOMIC INFORMATIONJUNE �0, �0��
-���-
County Commissioners of Calvert County, MarylandDemographic and Economic StatisticsLast Ten Fiscal Years(unaudited, see related notes below)Schedule 13
PublicPersonal Civilian Unemploy- School
Fiscal Income Per Capita Labor ment Rate EnrollmentYear Population (1) ($ thousands)(1) Income (1) Force (2) Percent (2) (3)2003 83,007 2,834,014 32,950 41,365 3.00% 16,745 2004 84,928 3,051,852 34,465 42,339 2.80% 16,904 2005 86,294 3,286,123 36,706 45,503 3.40% 16,842 2006 87,043 3,492,251 38,396 47,085 3.50% 17,113 2007 87,445 3,714,419 40,392 47,448 3.60% 17,468 2008 87,788 3,944,776 42,561 48,265 3.70% 17,029 2009 88,244 3,955,122 42,716 47,347 6.40% 16,729 2010 88,912 4,103,932 44,193 48,220 6.80% 16,406 2011 89,256 N/A N/A 48,070 6.40% 16,305 2012 89,951 N/A N/A 47,997 6.20% 16,136
NOTES:(1) Source: Maryland Department of Planning, planning data sources from U.S. Bureau of Economic Analysis(2) Source: U.S. Department of Labor Bureau of Labor Statistics(3) Source: Calvert County Public Schools Budget Book
-���-
County Commissioners of Calvert County, MarylandPrincipal EmployersCurrent Year and Nine Years ago(unaudited, see related notes below)Schedule 14
Percentage of Percentage of` Total County Total County
Employer Employees Rank Employment Employees Rank EmploymentCalvert County Public Schools 2,200 1 4.58% 2025 1 5.25%Calvert County Government 1,242 2 2.59% 875 3 2.43%Calvert Memorial Hospital 1,188 3 2.48% 855 4 2.43%Constellation Energy Group (1) 892 4 1.86% 998 2 2.36%Wal-Mart 420 5 0.88% 310 6 0.73%Giant Food 356 6 0.74%ARC of Southern Maryland 348 7 0.73% 369 5 0.87%Safeway 340 8 0.71%Navy Recreation Center 292 9 0.61%Asbury-Solomons Inc. 240 10 0.50%DynCorp 296 7 0.70%Recorded Books 291 8 0.69%DM Group 200 10 0.47%Calvert Nursing Center 203 9 0.48%
NOTES:(1) Employees of Calvert Cliffs Nuclear Power Plant - Corporate owner was Baltimore Gas and Electric (1997), and is now Constellation Energy Group.(2) Source: Calvert County Department of Economic Development
Fiscal Year 2012 Fiscal Year 2003
“THIS PAGE LEFT INTENTIONALLY BLANK”
COUNTY COMMISSIONERS OF CALVERT COUNTYCALVERT COUNTY, MARYLAND
OPERATING INFORMATIONJUNE �0, �0��
The follow�ng schedules conta�n serv�ce and �nfrastructure data that demonstrates how the information in the government’s financial report relates to the services the government provides and the act�v�t�es �t performs.
The operat�ng �nformat�on schedules are: Full-t�me Calvert County employees by funct�onOperat�ng �nd�cators by funct�onCap�tal asset stat�st�cs by funct�on
•••
-���-
County Commissioners of Calvert County, MarylandFull-time Calvert County Employees by FunctionLast Eight Fiscal Years(see related notes below)Schedule 15
Function: FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012General Government Commissioners 7 7 7 6 6 6 6 6 Circuit court 10 10 10.7 10.9 10.9 10.9 10.9 10.9 Clerk of the commissioners 1 1 1 1 1 1 1 1 County administration 2 2 3 3 3 3 3 2 County attorney 3 3 4 4 4 4 4 4 Treasurers 6 6 7.6 7.6 7.6 7.6 7.6 7.6 Election 8 9 9 9 9 9 9 6 Finance 20 22 22.6 22.6 23.6 23.6 23.6 25.6 General services 2 2 2 2 2 4 5 5 Buildings and grounds 26 28 31.7 32.7 32.7 32.7 32.7 31.7 Orphans court 3 3 3 3 3 3 3 3 Personnel 5 6 7.6 7.6 8.6 8.6 8.6 8.6 States attorney 18 18 20.1 20.1 20.1 21.1 22.1 22.1 Technology services 17 17 18.6 19.6 21.8 21.8 21.8 22.8
Public Safety Transportation 1 2 2.8 2.8 2.8 2.8 2.8 2.8 Mosquito control 1 1 4.1 4.1 4.1 4.1 4.1 4.1 Public safety 2 2 2 2 2 2 2 2 Control center 25 29 30 30 30 30 30 34 Emergency management 2 2 3 3 3 3 3 3 Fire and rescue 3 4 4 4 4 4.5 5.5 5.5 Inspections and permits 13 13 14.2 14.2 14.2 14.2 14.2 14.2 Animal control 5 5 5 6 7 7 7 7 Detention center 64 65 67 77.6 81.6 81.6 85.6 88.6 Sheriffs office 105 115 131.2 134.2 139.2 139.2 142.2 146.2 Liquor board 3 3 3 3 3 3.2 3.2 5
Public Works Public works 14 14 16.6 16.6 16.6 14.6 15.2 15.2 Planning commission 1 1 2 1 1 10.1 10 10 Project anagement 8 8 8 8 7 7 7 7 Fleet maintenance 7 8 9 9 10 10 10 10 Highway maintenance 33 33 33.6 33.6 36.6 36.6 36 36
Social Services Community resources 4 4 4.5 4.5 4.5 4.5 4.5 5 Office on aging 23 23 23.5 24.6 24.6 24.6 24.6 24.6
Recreation Marine museum 36 36 40.2 40.2 40.2 40.2 40.2 40.2 Railway museum 1 1 2 2 2 2 2 2 Recreation programs 59 62 68.7 69.7 70 70.7 68.6 69.2
Library 45.3 45.3 50.2 52.2 52.2 52.8 52.8 62
Conservation of Natural Resources 12 13.2 13.2 13.2 13.2 13.2 13.2 13.7
Soil Conservation 4 4 4 4 5 5 5 5
Urban Development Planning and zoning 21 21 26.1 26.1 16.1 16.1 16.1 16.1
Economic Development 8 9 9.1 10.1 12.1 12.1 12.5 12.5
Water and Sewer 30 30 30 33 34 33 33 32
Solid Waste 32 33 36.8 37.8 37.8 38.8 38.8 41.3
Chesapeake Hills Golf Course - - - - - 10.9 10.9 10.9
Total 690.3 720.5 791.7 815.6 827.1 850.1 858.3 881.4
NOTES:(1) Source: Calvert County's Adopted Operating and Capital Budgets FY2005-FY2012
-���-
County Commissioners of Calvert County, MarylandOperating Indicators by FunctionLast Ten Fiscal Years(unaudited, see related notes)Schedule 16
FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012Function: Actual Actual Actual Actual Actual Actual Actual Actual Actual ActualGeneral Government Circuit court Case transactions 5,927 6,680 7,007 9,763 12,028 13,884 14,363 15,123 16,085 16,981 Technology services Work orders completed N/A N/A N/A 3,945 4,348 4,124 4,050 3,375 4,209 4,300 Support to desktop/laptop computers N/A N/A N/A 512 665 750 795 835 875 930 Treasurers office Credit card dollars collected 55,692 146,477 182,444 300,051 283,659 480,062 466,182 537,611 598,705 630,000 Credit card transactions 58 139 168 287 247 323 291 346 363 380 Real estate tax bills N/A 39,765 40,468 40,988 41,265 41,390 41,757 42,236 42,297 42,327 Finance and budget Purchase orders processed 5,916 5,632 5,641 6,705 7,046 7,291 7,273 6,717 6,759 6,780 Accounts payable checks 15,374 15,949 15,493 15,015 17,050 16,349 15,693 14,852 15,334 14,834 Average number of employees per pay 860 906 930 936 945 992 1,017 1,049 1,112 1,130 Fixed assets maintained 12,491 13,326 14,551 15,364 15,973 14,503 15,255 15,804 16,749 16,900 Health care benefits managed 667 692 717 738 935 958 997 1,021 1,020 1,030
Public Safety Transportation Yearly ridership 108,094 107,753 113,354 132,648 132,728 133,270 134,786 109,705 135,500 109,658 Inspections and permits Building permits issued 2,410 2,430 2,425 2,504 2,098 1,812 1,428 1,472 1,492 1,689 Grading permits issued 1,256 1,053 855 820 717 672 707 672 783 795 Electrical permits issued 2,298 2,007 2,424 2,438 1,986 1,666 1,425 1,471 1,437 1,659 Plumbing permits issued 1,746 1,625 1,667 1,279 1,074 943 757 744 873 870 Control center Number of incidents handled 106,560 N/A 117,936 130,478 148,947 160,063 164,807 151,224 140,031 147,033 Fire and rescue Total calls responded 16,100 16,500 16,900 17,560 19,747 20,743 20,021 19,708 21,000 21,000 Animal control Calls for service 4,955 5,103 5,354 7,377 7,506 8,139 8,063 5,601 6,129 6,500 Detention center Average daily population 181 212 227 212 238 228 237 288 233 240 Work release (adp) 69 74 73 68 75 85 67 39 32 27 Sheriff's office Calls for service 49,148 54,789 71,959 65,454 76,223 85,941 83,062 84,513 87,045 89,659 Murder cases 2 1 1 - 2 1 - - - - Rape cases 7 8 11 4 - 6 10 17 10 10 Robbery cases 15 10 20 9 16 15 27 26 27 29 Aggravated assault cases 177 120 121 171 173 272 187 123 56 56 Theft cases 753 677 899 935 947 1,051 1,067 1,204 1,100 1,100 Auto theft cases 69 62 65 77 92 92 82 92 55 55 Domestic violence incidents responded to N/A N/A N/A 1,103 1,189 1,231 1,203 1,287 1,325 1,364 Business & community patrol checks N/A N/A N/A 23,414 30,419 38,032 35,538 33,977 29,724 30,615 Sex offenders registered in Calvert County N/A N/A N/A 99 108 110 103 107 109 112 School related incidents/investigations N/A N/A N/A 351 403 293 333 1,574 1,621 1,669
Public Works Major and minor subdivisions 1,073 989 1,040 205 227 175 143 149 196 196 Road plans 48 67 120 32 33 41 17 24 30 30 Project management Miles of roadway resurfaced 20 17 13 11 13 15 14 12 8 8 Fleet maintenance Work orders 2,350 2,500 2,600 2,226 2,211 2,371 3,529 2,837 3,500 3,600
Recreation Public library Circulation of materials 808,178 879,152 930,098 920,727 962,246 * 1,035,223 1,114,737 1,154,634 1,153,773 1,142,301 Railway museum Outreach participants N/A 3,300 3,924 3,621 3,900 4,000 4,100 4,150 4,200 4,200 Participants in programs N/A N/A N/A N/A 2,547 2,434 3,569 5,118 4,200 4,200
Urban Development Planning and zoning Major and minor subdivisions (new applications) 60 49 47 47 63 40 21 34 45 45
Water and Sewer Number of customers N/A N/A N/A 4,587 4,788 4,799 5,037 5,076 5,104 5,153
NOTES:(1) Source: Calvert County's Adopted Operating and Capital Budget FY2002-2012(2) Source: Calvert County Sheriff's Office
-���-
County Commissioners of Calvert County, MarylandCapital Asset Statistics by FunctionLast Eight Fiscal Years(unaudited, see related notes below)Schedule 17
Function: FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012Public Safety Police: Stations 1 1 1 1 1 1 1 1 Patrol units 89 115 115 120 141 140 141 141 Special purpose units 0 0 0 0 0 5 6 6 Fire protection: Fire stations 7 7 7 7 7 5 6 6 Pumpers 12 12 12 12 12 12 12 12 Ambulances 15 15 15 15 15 14 14 14 Rescue trucks 6 6 6 6 6 7 7 6 Aerial trucks/towers 3 3 3 3 3 3 3 3 Brush units 12 12 12 12 12 13 13 13 Tankers 5 5 5 5 5 5 5 5 Jet skis 2 2 2 2 2 2 2 2 Dive rescue van 1 1 1 1 1 1 1 1 Fire-rescue boats 3 3 3 3 3 3 3 3 Mass casualty unit/trailer 1 1 1 1 1 1 1 1 Inflatable boats 6 6 6 6 6 6 6 6 Paramedic units 5 5 5 5 5 5 5 5 Air cascade units 0 0 1 1 1 2 2 2 Other utility types 24 24 24 24 24 25 25 25
Community Resources Transportation: Passenger buses 17 17 18 18 17 17 17 17
Public Works County owned streets in miles 435 446 446 446 446 452 452 452
Recreation Baseball fields 20 20 20 20 20 20 20 20 Football fields 7 7 7 7 7 7 7 7 Basketball courts 6 6 6 6 6 6 6 6 Tennis courts 10 10 10 10 10 10 10 12 Pools 1 2 2 2 2 3 3 3 Golf course 0 0 0 0 0 1 1 1 Playgrounds and parks in acres 360 360 360 360 360 360 375 375
Water and Sewer Water mains in miles 75 75 75 75 75 77 77 77 Water systems 21 21 21 21 21 21 21 20 Storage tanks 14 14 14 14 14 14 14 14 Sewer mains in miles 66 66 66 66 66 66 66 66 Sewer treatment plants 9 9 9 9 9 9 9 8 Sewer pumping stations 27 27 27 27 39 39 39 39
NOTES:(1) Source: Various county departments