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ORANGE COUNTY, NORTH CAROLINA <br />NOTES TO THE FINANCIAL STATEMENTS <br />FOR THE YEAR ENDED JUNE 30, 2012 <br />7.Deferred/Unearned Revenues <br />The balance in deferred revenues on the fund statements and unearned revenues on the government- <br />wide statements at year-end are composed of the following elements: <br />8. Capital Assets, Net of Related Debt <br />Capital assets, net of related debt, at June 30, 2012 are computed as follows: <br />65 <br /> <br />