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Exhibit 1
<br />ORANGE COUNTY, NORTH CAROLINA
<br />BALANCE SHEET - MAJOR GOVERNMENTAL FUNDS (UNAUDITED)
<br />December 31, 2014
<br />Major Funds
<br />Total
<br />CountySchoolMajor
<br />CapitalCapitalGovernmental
<br />GeneralImprovementsImprovementsFunds
<br />Assets:
<br />Cash and investments$ 108,125,254$ 9,223,853$ 2,790,989 $ 120,140,096
<br />Accounts receivable, - -
<br />property taxes, net 25,961,389 - - 25,961,389
<br />Accounts receivable, federal - - - -
<br />Accounts receivable, State - - - -
<br />Accounts receivable, other 1,236,377 - - 1,236,377
<br />Inventories 29,242 - - 29,242
<br />Due from other funds 163,337 - - 163,337
<br /> 500,494 - - 500,494
<br />Restricted cash and investments
<br />$ 136,016,093$ 9,223,853$ 2,790,989 $ 148,030,935
<br />Total assets
<br />Liabilities, Deferred Inflows of
<br /> Resources, and Fund Balance:
<br />Liabilities:
<br />Accounts payable$ 1,454,435$ 97,004$ -$ 1,551,439
<br />Accrued payroll and withholdings 507,199 - - 507,199
<br />Accrued liabilities 1,342,834 - - 1,342,834
<br />Due to other funds - - - -
<br /> - 14,637 24,739 39,376
<br />Arbitrage payable
<br /> 3,304,468 111,641 24,739 3,440,848
<br />Total liabilities
<br />Deferred Inflows of Resources:
<br />Unavailable grant revenue
<br /> 735,911 - - 735,911
<br />Property taxes receivable
<br /> 25,961,389 - - 25,961,389
<br /> 71,155 - - 71,155
<br />Prepaid taxes
<br /> 26,768,455 - - 26,768,455
<br />Total Deferred inflows of resources
<br />Fund Balances:
<br />Non-spendable:
<br />Prepaid items - - - -
<br />Inventories 29,242 - - 29,242
<br />Restricted for:
<br />Stabilization for State statute - 1,872,342 - 1,872,342
<br />Restricted, all other 500,494 7,239,870 - 7,740,364
<br />Committed 6,002,004 - - 6,002,004
<br />Assigned 10,068,343 - - 10,068,343
<br /> 89,343,087 - 2,766,250 92,109,337
<br />Unassigned
<br /> 105,943,170 9,112,212 2,766,250 117,821,632
<br />Total fund balances
<br />Total liabilities, deferred inflows of
<br />$ 136,016,093$ 9,223,853$ 2,790,989 $ 148,030,935
<br />resources, and fund balances
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