Assignment 1: Financial Statement / Audit Report Review
COBB COUNTY GOVERMENT
MARIETTA, GEORGIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For Fiscal Year Ended September 30, 2018
COBB COUNTY, GEORGIA COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Fiscal Year Ended September 30, 2018
William Volckmann Director of Finance/Comptroller
Cobb County Finance Department
100 Cherokee Street, Marietta, Georgia 30090
ACWORTH
KENNESAW
MARIETTA
POWDER SPRINGS
SMYRNA
ATLANTA
AUSTELL
HARTSFIELD AIRPORT
COBB
Fulton
Douglas
Gwinnett
DeKalb
Rockdale
Clayton
Henry
Fayette
Fulton
Metro Atlanta
COBB COUNTY, GEORGIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
SEPTEMBER 30, 2018 ____________________________________________________________________________________________
____________________________________________________________________________________________
TABLE OF CONTENTS
INTRODUCTORY SECTION
Transmittal Letter ..................................................................................................................................... i-vii
Certificate of Achievement in Financial Reporting ................................................................................... viii
General Government Organization Chart .................................................................................................... ix
County Officials ............................................................................................................................................ x
Department of Finance................................................................................................................................. xi
FINANCIAL SECTION
Independent Auditor’s Report ................................................................................................................... 1-3
Management’s Discussion and Analysis ................................................................................................. 4-17
Basic Financial Statements:
Government-Wide Financial Statements:
Statement of Net Position ..................................................................................................................... 18
Statement of Activities ......................................................................................................................... 19
Governmental Fund Financial Statements:
Balance Sheet – Governmental Funds ................................................................................................. 20
Reconciliation of the Governmental Balance Sheet to the Statement of Net Position ........................ 21
Statement of Revenues, Expenditures and Changes in Fund Balances –
Governmental Funds ...................................................................................................................... 22
Reconciliation of the Statement of Revenues, Expenditures and
Changes in Fund Balances of Governmental Funds to the
Statement of Activities .................................................................................................................. 23
Proprietary Fund Financial Statements:
Statement of Net Position – Proprietary Funds ............................................................................... 24-25
Statement of Revenues, Expenses and Changes in Fund Net Position –
Proprietary Funds ........................................................................................................................... 26
Statement of Cash Flows – Proprietary Funds ................................................................................ 27-28
Fiduciary Fund Financial Statements:
Statement of Fiduciary Net Position – Fiduciary Funds ...................................................................... 29
Statement of Changes in Fiduciary Net Position – Fiduciary Funds ................................................... 30
Notes to Financial Statements ......................................................................................................... 31-78
Required Supplemental Information:
Schedule of Changes in Net Pension Liability and Related Ratios ..................................................... 79
Schedule of Pension Contributions ...................................................................................................... 80
Schedule of Pension Investment Returns ............................................................................................. 81
Notes to Required Supplementary Information – Pension ................................................................... 82
Schedule of Changes in Net OPEB Liability and Related Ratios ........................................................ 83
Schedule of OPEB Contributions ......................................................................................................... 84
COBB COUNTY, GEORGIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
SEPTEMBER 30, 2018 ____________________________________________________________________________________________
____________________________________________________________________________________________
TABLE OF CONTENTS
Schedule of OPEB Investment Returns ............................................................................................... 85
Schedule of Revenues, Expenditures and Changes in Fund Balances –
Budget and Actual (Budgetary Basis) – General Fund ................................................................. 86 12-13
Schedule of Revenues, Expenditures and Changes in Fund Balances –
Budget and Actual (Budgetary Basis) – Fire District Special Revenue Fund ............................... 87
Nonmajor Funds:
Nonmajor Governmental Fund Descriptions .................................................................................. 88-89
Combining Balance Sheet – All Nonmajor Governmental Funds ....................................................... 90
Combining Statement of Revenues, Expenditures and Changes in Fund Balances –
All Nonmajor Governmental Funds .............................................................................................. 91
Combining Balance Sheet – Total Nonmajor Special Revenue Funds ........................................... 92-93
Combining Statement of Revenues, Expenditures and Changes in Fund Balances –
Total Nonmajor Special Revenue Funds .................................................................................. 94-95
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual – CMCEHA Debt Service Fund ..................................................................... 96
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual - BOC Debt Service Fund ............................................................................... 97
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual (Budgetary Basis) – Law Library Special Revenue Fund .............................. 98
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual – Community Services Special Revenue Fund ............................................... 99
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual – Hotel/Motel Tax Special Revenue Fund ................................................... 100
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual (Budgetary Basis) – Emergency 911 Special Revenue Fund ....................... 101
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual (Budgetary Basis) – Parking Deck Facility Special Revenue Fund ............. 102 93
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual – 800 MHz Special Revenue Fund ............................................................... 103
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual – Street Light District Special Revenue Fund .............................................. 104
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual – Six Flags Special Service District Special Revenue Fund ........................ 105
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual – Cumberland Special Service District 1 Special Revenue Fund ................. 106
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual– Cumberland Special Service District 2 Special Revenue Fund .................. 107
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual – CMCEHA Special Revenue Fund ............................................................. 108
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual – Stadium Capital Maintenance Special Revenue Fund ............................... 109
COBB COUNTY, GEORGIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
SEPTEMBER 30, 2018 ____________________________________________________________________________________________
____________________________________________________________________________________________
TABLE OF CONTENTS
Combining Statement of Net Position – Nonmajor Business-Type Enterprise Funds ............... 110-111
Combining Statement of Revenues, Expenses and Changes in Fund Net Position –
Nonmajor Business-Type Enterprise Funds ................................................................................ 112 97-9898
Combining Statement of Cash Flows – Nonmajor Business-Type Enterprise Funds ................. 113-114
Combining Statements of Fiduciary Net Position- Trust Funds ................................................ 115-116
Combining Statement of Changes in Assets and Liabilities –
Agency Funds ....................................................................................................................... 117-118
Supplemental Information:
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual (Budgetary Basis) – General Fund ........................................................ 119-125
STATISTICAL SECTION
Financial Trends:
Statistical Section Description .................................................................................................................. 126
Net Position by Component ...................................................................................................................... 127
Changes in Net Position ..................................................................................................................... 128-129
Fund Balances, Governmental Funds ....................................................................................................... 130
Changes in Fund Balance, Governmental Funds ............................................................................... 131-132
Revenue Capacity:
Assessed Value and Actual Value ............................................................................................................ 133
Direct and Overlapping Property Tax Rates ............................................................................................. 134
Principal Property Tax Payers .................................................................................................................. 135
Property Tax Levies and Collections ........................................................................................................ 136
Largest Retail Water System Accounts .................................................................................................... 137
Existing Water Rates ................................................................................................................................ 138
Existing Sewer Rates ................................................................................................................................ 139
Fire Sprinkler Service Charges ................................................................................................................. 140
Rate Comparison With Other Utilities ..................................................................................................... 141
Wholesale Sewer Rates ............................................................................................................................. 142
Debt Capacity:
Ratios of General Bonded Debt Outstanding ........................................................................................... 143
Direct and Overlapping Governmental Activities Debt ........................................................................... 144
Legal Debt Margin Information ................................................................................................................ 145
Ratios of Outstanding Debt by Type ........................................................................................................ 146
Revenue Bond Coverage ........................................................................................................................... 147
Annual Debt Service Requirements .......................................................................................................... 148
Demographic and Economic Information:
Demographic and Economic Statistics ..................................................................................................... 149
Principal Employers .................................................................................................................................. 150
Building Permits and Construction ........................................................................................................... 151
Commercial and Savings Bank Deposits .................................................................................................. 152
COBB COUNTY, GEORGIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
SEPTEMBER 30, 2018 ____________________________________________________________________________________________
____________________________________________________________________________________________
TABLE OF CONTENTS
Operating Information:
Full Time Equivalent Cobb County Government Employees by Function .............................................. 153
Operating Indicators by Function ............................................................................................................. 154
Capital Asset Statistics by Function ......................................................................................................... 155
Existing Authority Water & Sewer Treatment System Capacities ........................................................... 156
Historical System Accounts ...................................................................................................................... 157
COMPLIANCE SECTION
Schedule of Projects Constructed with Special Sales Tax Proceeds ........................................................ 158
Water and Sewer Enterprise Fund Comparative Statements of Revenues and Expenses ........................ 159
COMPREHENSIVE ANNUAL FINANCIAL REPORT Return to Table of Contents
Cobb County Finance Department, 100 Cherokee Street, Marietta, Georgia 30090
INTRODUCTORY SECTION
The Introductory Section includes a transmittal letter from the Director of Finance/Comptroller, a general government organization chart and a list of principal officials. The transmittal letter is intended to provide users with general information of the County’s structure, the County’s current and future economic picture as well as its major initiatives and financial accomplishments.
From the desk of:
WILLIAM VOLCKMANN
Director/COMPTROLLER
William.volckmann@cobbcounty.org
COBB COUNTY FINANCE DEPARTMENT
www.cobbcounty.org/finance
100 Cherokee Street, Suite 400
Marietta, GA 30090
Phone: 770.528.1571
Fax: 770.528.1507
Cobb County…Expect the Best!
Equal Opportunity Employer www.cobbcounty.org
March 22, 2019
The Honorable Mike Boyce, Chairman
Members of the Cobb County Board of Commissioners
And Citizens of Cobb County
Ladies and Gentlemen:
The Comprehensive Annual Financial Report (CAFR) of Cobb County, Georgia for the fiscal year
ended September 30, 2018, is submitted herewith. Georgia state law requires that every general-
purpose local government publish within six months of the close of each fiscal year a complete set
of audited financial statements.
Responsibility for both the accuracy of the data and the completeness and fairness of presentation,
including disclosures, rests with the County. We believe the data presented is accurate in all
material respects and that it is presented in a manner designed to fairly set forth the financial
position and results of operations of the County as measured by the financial activity of its various
funds. All disclosures necessary to enable interested citizens to gain a reasonable understanding of
the County’s financial activities have been included.
Nichols, Cauley & Associates, LLC, Certified Public Accountants, have issued an unmodified
opinion on the Cobb County financial statements for the fiscal year ended September 30, 2018.
The independent auditor’s report is located at the front of the financial section of this report.
Management’s discussion and analysis (MD&A) immediately follows the independent auditor’s
report and provides a narrative introduction, overview, and analysis of the basic financial
statements. MD&A complements this letter of transmittal and should be read in conjunction with
it.
Cobb County receives financial assistance through various federal grant programs. As required by
the Single Audit Act of 1984, P.L. 98-502 and amendments of 1996 and Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (“Uniform Guidance”), audits of programs receiving federal
grants have been performed for the fiscal year ended September 30, 2018. The required reports on
supplementary information, compliance, internal controls, and various supplementary schedules
are included under the Compliance Section.
Profile of the Government
Cobb County, Georgia, is a healthy, vibrant community located twenty miles northwest of Atlanta
along the scenic Chattahoochee River. Cobb and neighboring Cherokee County were part of the
Creek and Cherokee Indian Territories when the first settlers arrived in the early 1800’s. The North
Georgia Gold Rush brought English and Scotch-Irish settlers in search of riches and farmland. As
trade began, enough homesteaders were attracted to the area for the City of Smyrna, one of Cobb’s
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six municipalities, to be settled in 1831. Cobb County was officially organized in December 3,
1832 and named for Thomas Willis Cobb, a United States Senator, Congressman and Superior
Court judge. The County seat, Marietta, was officially recognized in 1834. The two cities and the
county grew substantially following Reconstruction, especially after World War II with the
building of Rickenbacker Field and the Bell Bomber Aircraft Plant – now Dobbins Air Reserve
Base and the Lockheed Martin Aeronautical Systems Company.
Cobb’s population has grown 27% since 2000 when approximately 607,751 people resided in the
County. Based on the Woods & Poole Economic 2018 Data Pamphlet, Cobb’s population is
estimated to be 773,930.
A five-member Board of Commissioners governs Cobb County. The Board is comprised of one
chairman, elected county wide, and four commissioners, each elected from a separate commission
district serving four year staggered terms. A County Manager, who is appointed by and responsible
to the Board of Commissioners, directs the daily operation of the County. Services provided to
approximately 773,930 Cobb citizens residing in the 340.2 square mile area include: public safety (fire, EMS, police, 911 emergency, animal control, courts and sheriff and detention operations),
community development, community services, transportation, and other general governmental
services. The County also provides water and sewer. After many years of providing solid waste
disposal services to the public, this function was privatized in 2009.
The incorporated areas of Cobb County consist of six municipalities – the cities of Acworth,
Austell, Kennesaw, Marietta, Powder Springs and Smyrna. A mayor and city council govern each
municipality.
The financial statements contained herein include all activities and functions of Cobb County that
are under the jurisdiction of the Board of Commissioners, as set forth in state and local law.
Additionally, three component units are included in these financial statements because of its
operational and financial relationships to the County. The Cobb-Marietta Coliseum and Exhibit
Hall Authority, a blended component unit, operates a multi-use exhibit hall and convention facility
in the County. The South Cobb Redevelopment Authority (SCRA), a blended component unit,
purposes is to revitalize and redevelop areas that have been underinvested or underutilized in the
past. The overall intent is to promote and create favorable location for trade, commerce, industry,
and employment opportunities. The Cobb County Board of Health provides a variety of health
related services in the County. Additional information on these legally separate entities can be
found under the Basic Financial Statements section.
Local Economy
Cobb County is part of a very select group that includes less than 1% of counties nationwide to
have achieved a Triple-Triple A credit rating, and this achievement has been accomplished for the
twenty second consecutive year. In 1995, Moody’s Investor Services awarded Cobb its first AAA
rating citing strong economic growth and strong fiscal management. Cobb was the first county in
Moody’s eight-state southeast region to achieve this highly coveted rating. In April of 1996, Fitch
Investors also awarded Cobb with their top rating AAA. Cobb was also the first county in Fitch’s
southeast region to achieve their AAA rating. Standard and Poor’s upgraded Cobb to AAA in June
of 1997. The Triple A rating is the most highly acclaimed indicator of the overall financial strength
of a community. These independent ratings produce significant interest savings and verify that
Cobb’s sound fiscal policies and conservative management philosophy will guide Cobb into the
future.
Thanks in large part to the foresight and stewardship of County leadership, Cobb County continues
to prosper. Cobb employs more than 540,400 within its boundaries and currently, there are
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approximately 30,000 licensed businesses. The County’s unemployment rate was 3.2% which is
lower than the State of Georgia (4.0%) and the United States (3.8%).
The County is highly-regarded for its pro-business environment, a product of careful planning,
cooperation with other local governments, and progressive leadership which, over the years, has
generated a strong and diverse economy that is not dependent on any one industry or sector. Major
national and international companies are represented in the County. Some of the top employers in
Cobb County include, the Home Depot, Cobb County Schools, WellStar, Lockheed Martin and
Kennesaw State University to name a few.
On November 11, 2013, the Atlanta Braves organization announced their partnership with the
County that will bring the new world-class Major League Baseball stadium and integrated mixed-
use development to Cobb County. The construction of the new stadium began in the second half of
2014 and was be completed by Opening Day 2017. This partnership completed its second
successful year of operation. 2018 was the first full year impact on the tax digest, as several of the
properties in Battery development were still valued at 50% in 2017.
According to Woods & Poole Economics (2018 Data Pamphlet), the Atlanta Georgia Metro
Statistical Area (MSA) will generate the second largest number of jobs of any MSA in the Southeast
over the next three decades. Atlanta is a regional center of trade and commerce for much of the
Southeast outside of Florida. Employment is expected to increase in transportation,
communications, public utilities, retail trade, finance, insurance, and real estate. Hartsfield-Jackson
International Airport and an extensive road program have made the Atlanta area a hub for
distribution facilities and a regional center for commerce and trade in the Southeast.
Long-term Financial Planning
Cobb County is recognized as a leader both nationally and locally. Nationally, the three premier
bond rating agencies have awarded the County their highest ratings triple A. Cobb’s Water System
is the highest rated independent (non-general obligation backed) water system in the nation as they
also have a Triple-Triple A rating.
In November 2014, voters approved the Special Purpose Local Option Sales Tax (SPLOST). This
one cent sales tax program, which is significantly supported by non-residents, funds various
improvements around the County. The SPLOST tax will be collected from January 1, 2016 to
11%
8%
5%
3%
6%
3%
6%10%
48%
Financial/Insurance/ Real Estate Government
Manufacturing
Miscellaneous
Construction
Transportation & Utilities
Wholesale
Retail
Sevices
Employment by Job Category Source: Woods & Poole, 2018
iv
December 31, 2021. A complete list of the projects and further details regarding the program is
available at the website: www.cobbsplost2016.org. Since this SPLOST began, the improvements
total: $137.6 million Transportation Projects; $54.2 million Parks, Libraries and Senior Service
Projects Projects; $11.9 million Support Services Projects, $7.8 million Public Health Projects, and
$62.2 million for Public Safety Projects. Additionally, $97.9 million has been disbursed to the six
municipalities within Cobb County. Total revenue generated for the SPLOST program since this
SPLOST began is $468.6 million with expenditures totaling $371.6 million.
In March 2011, voters approved the Special Purpose Local Option Sales Tax (SPLOST) that ceased
collections in December 2015. Since this SPLOST began, the improvements total: $305.9 million
Transportation Projects; $81.8 million Parks Projects; $20.1 million Support Services Projects and
$11.4 million for Public Safety Projects. Additionally, $140.6 million has been disbursed to the six
municipalities within Cobb County. Total revenue generated for the SPLOST program since this
SPLOST began is $611.9 million with expenditures totaling $559.8 million.
In September 2005, voters approved a one cent Special Purpose Local Option Sales Tax (SPLOST)
that ceased collections in December 2011. Since this SPLOST began, the improvements total:
$519.8 million Transportation Projects; $200.3 million Public Safety Projects, and $120.8 million
has been disbursed to the six municipalities within Cobb County. Total revenue generated for the
SPLOST program since this SPLOST began is $860.9 million with expenditures totaling $840.9
million.
The Debt Service Fund reflects the accumulation of monies for, and the payment of, principal and
interest on all General Obligation Debt other than that issued specifically for enterprise activities.
The following ratios of net bonded debt per capita are useful indicators of the County’s strong debt
position:
Amount Debt per Capita Debt to Actual
Value
Debt to Assessed
Value
Net Bonded Debt $16,344,830 $21.12 0.02% 0.04%
Total General
Obligation Direct Debt
$23,250,565 $30.04 0.02% 0.06%
Total Primary
Government Debt
$749,848,995 $968.88 0.79% 1.97%
Outstanding General Obligation Bonds at September 30, 2018 totaled $21,090,000.
Cobb’s legal General Obligation Bond debt limitation by state law is 10% of the taxable digest or
$3,808,814,959. Cobb County currently is utilizing 0.37% of this limitation with its $21,090,000
outstanding General Obligation Bonds.
The available assets of the various funds are pooled to the extent possible for investment purposes.
Investments are made in accordance with state law and the County’s Investment Policy that requires
bank balances be 110% collateralized and all investments be acquired on a “delivery vs. payment”
basis, thereby providing maximum protection to the County. The Investment Policy also prescribes
selection criteria for financial institutions, investment instruments and maturities of investments.
On March 13, 2007, the Cobb County Board of Commissioners (BOC) authorized the Water
System to submit an application to (Georgia Environmental Facilities Authority) GEFA for partial
funding of the South Cobb Tunnel construction and related services. This project entails
construction of an approximately 30,000 foot long, deep tunnel with a 27-foot excavation diameter;
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several connecting tunnels 6 to 10 feet in diameter ranging from 500 to 3,200 feet in length, and a
130 mgd lift station at the South Cobb Water Reclamation Facility. The initial loan in the amount
of $35 million was authorized by the BOC on March 11, 2008, and the second loan in the amount
of $35 million was authorized in FY2009. Two additional loans in the amount of $10 million and
$25 million were requested in FY 2010. Two additional loans in the amount of $25 million and
$35 million were requested in FY 2011 [however, only $49.9 million was received in
FY2011]. One additional loan in the amount of $35 million was requested in FY 2012 [however,
only $27.1 million was received in FY2012]. The length of the project will be approximately 6
years with each loan having a 20 year term. The current outstanding balance of these loans from
GEFA, as of September 30, 2018, is $120,368,698.
Major Initiatives
In order to continue to compete in a global economy and ensure continued economic growth, Cobb
County must continue to address the public infrastructure that effectively serves the demands for
transportation and air travel, water supply, wastewater treatment and waste disposal. To address
these challenges, along with other quality of life issues, Cobb aggressively developed and adopted
its first 5-year rolling Capital Improvement Program (CIP) in 1990. Since that time, Cobb County
has successfully completed and implemented the Cobb County Greenprint. This is a Geographic
Information Systems modeling program that allows staff to manage and prioritize the remaining
undeveloped land and sensitive habitat in the county.
County-Owned Transit System The County’s bus service continues to meet its goals of providing
the citizens of Cobb County with a safe, reliable, attractive and cost effective public transportation
system. In 2018, CobbLinc riders took nearly 2.5 million trips. CobbLinc continues with the
Breeze Fare Collection System which allows passengers to be able to easily transfer between
CobbLinc and MARTA. In 2018 CobbLinc replaced 14 buses with new Wi-Fi-equipped buses and
continue to add and update routes, providing better access for more people than ever before.
SPLOST Projects Every project funded by the 2011 and 2016 SPLOSTs will improve the quality
of life in Cobb County by maintaining, improving and enhancing County parks, transportation,
infrastructure, public safety, libraries, senior services, judicial, and public health facilities.
SPLOST - Transportation With the 2011 and 2016 SPLOST programs proceeding on schedule and
on track, improvements to Cobb County's transportation system steadily move along. The 2011
SPLOST program to date has approximately 208 transportation projects that are underway or
completed while the 2016 SPLOST program has 182 transportation projects that are underway or
completed.
SPLOST Transportation Project Highlights from 2018:
Transportation had 40% of the 2016 SPLOST projects completed, 13% in the construction phase,
33% in design / engineering phase, and 13% are future projects.
Countywide Resurfacing Projects $17.1M
Windy Hill Road / Terrell Mill Road Connector $7.6M
Completed 12 Bridge Rehabilitation Projects
SPLOST – Public Safety Public Safety enhancements include adding apparatus/vehicles to increase
response capability through-out the county, site acquisition for the new Public Safety Headquarters,
as well as the renovation of existing facilities.
SPLOST Public Safety Project Highlights from 2018:
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Site Acquisition of the New Public Safety Headquarters $13.4M
Mobile Command Unit & Airport Fire Fighting Unit
SPLOST –Public Services: Funding for these projects will be used for parks, library, and senior
center improvements to benefit the citizens of Cobb County.
SPLOST Public Service projects completed in 2018:
Public Services had 58% of the 2016 SPLOST projects completed, 15% in the construction phase,
18% in design / engineering phase, and 9% are future projects.
Green Meadows Preserve
Mabry Park 85% Complete
Mable House Amphitheater 25% Complete
Relevant Financial Policies
Cobb County’s goals were developed within the framework of the Financial Policies established
by the County that provide a sound basis for future financial planning and conservative
management. Briefly stated, they include (1) a balanced annual operating budget, (2) a stable and
diversified revenue structure, (3) maintenance of adequate reserves and designations of fund
balances, (4) a multi-year capital improvements program, and (5) debt and investment policies that
ensure judicious management of the County’s credit and available funds.
In developing and evaluating the County’s accounting system, consideration is given to the
adequacy of internal accounting controls. Internal accounting controls are designed to provide
reasonable, but not absolute, assurance regarding: (1) the safeguarding of assets against loss from
unauthorized use or disposition; and (2) the reliability of financial records for preparing financial
statements and maintaining accountability for assets. The concept of reasonable assurance
recognizes that: (1) the cost of control should not exceed the benefits likely to be derived; and (2)
the evaluation of costs and benefits requires estimates and judgments by management.
All internal control evaluations occur within the above framework. We believe the County’s
internal accounting controls adequately safeguard assets and provide reasonable assurance of
proper recording of financial transactions.
Budgetary control is maintained at the sub-function level by the encumbrance of estimated purchase
amounts before the release of purchase orders to vendors. Purchase orders that result in an overrun
of sub-function balances are not released until additional appropriations are made available. Open
encumbrances are reported within restricted, committed, or assigned fund balances at year-end for
governmental funds.
Awards and Acknowledgements
The Government Finance Officers Association (GFOA) awarded a Certificate of Achievement for
Excellence in Financial Reporting to the County for its Comprehensive Annual Financial Report
for the fiscal year ended September 30, 2017. This represented the 15th consecutive year that the
County has received this prestigious award. In order to be awarded a Certificate of Achievement,
the County must publish an easily readable and efficiently organized Comprehensive Annual
Financial Report. This report must satisfy both generally accepted accounting principles and
applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current
Comprehensive Annual Financial Report continues to meet the Certificate of Achievement
Program’s requirements. We are submitting it to GFOA to determine its eligibility for another
certificate.
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In addition, the County received its 20th consecutive GFOA Award for Distinguished Budget
Presentation for its biennial operating budget which was presented in the FY 17/18 Biennial Budget
document. To qualify for the Distinguished Budget Presentation Award, the County’s budget
document must be reviewed by several independent GFOA members and rated as proficient in
several categories as a policy document, financial plan, operational guide and a communications
device.
The Water System Fund received several awards throughout FY18. The following water
reclamation facilities received platinum awards from the Georgia Association of Water
Professionals: Northwest, Noonday, South Cobb, and R.L. Sutton.
We wish to acknowledge the outstanding efforts of the Finance Department staff in the preparation
of this report. Their dedication and contributions to the preparation of this report, along with the
direction and support of the County Manager’s Office, form the basis for responsible and
progressive financial management in Cobb County.
We also wish to acknowledge the valuable contribution of the Board of Commissioners in its
guidance of the financial affairs of the County.
Most of all, we would like to thank the people of Cobb County. Their noteworthy level of
community involvement, extending far beyond personal interest, continues to make Cobb County
an exciting place in which to live and work.
Respectfully submitted,
William Volckmann
Finance Director / Comptroller
Government Finance Officers Association
Certificate of Achievement for Excellence
in Financial Reporting
Presented to
Cobb County
Georgia
For its Comprehensive Annual Financial Report
for the Fiscal Year Ended
September 30, 2017
Executive Director/CEO
viii
Cobb County Government
Elected Office
Department Director
Board of Commissioners
County Manager
Public Safety Agency Director
Superior Court of Georgia Cobb Judicial Circuit
District Attorney
Superior Court
Judges
Juvenile Court
Superior Court Clerk
State Court Judges
Solicitor General
State Court Clerk
Probate Court Judge Magistrate Court
State Court of Cobb County
Sheriff Tax
Commissioner
County Attorney
County Clerk
Public Services Agency Director
Support Services Agency Director
Water System Agency Director
Community Development
Agency Director
Transportation Agency Director
Police
Public Library System
Parks, Rec & Cultural Affairs
Medical Examiner
Senior Services
UGA Extension
Service
Information Services
Property Mgt.
Purchasing
Appointed by the Board of Commissioners
K E Y Elected Court Office
Agency Director
County Manager’s Staff
For budget purposes only.
Appointed Court/ Office
Liaison responsibilities only.
Fire & Emergency
Services
Tax Assessor
Human ResourcesCommunications
Animal Control
911 Emergency
Govt Service Centers
Finance / Economic Develop.
ORGANIZATIONAL CHART
Elections
Internal Audit
KCB / Solid Waste
(Apr 2017)
Fleet Management
Cobb County Airport
CobbLinc
Cobb EMA
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COBB COUNTY BOARD OF COMMISSIONERS
County Manager Rob Hosack
770-528-2612 robert.hosack @cobbcounty.org
Assistant: Renee Morris
100 Cherokee St., Suite 300 Marietta, GA 30090 • 770.528.2600 • fax:770.528.2606 • www.CobbCounty.org
Chairman Mike Boyce 770-528-3305 mike.boyce@cobbcounty.org Assistants: Millie Rogers and Janet Haldeman
District One Commissioner Bob Weatherford 770-528-3313 bob.weatherford@cobbcounty.org Assistant: Shannon Woody
District Two Commissioner Bob Ott
770-528-3316 bob.ott@cobbcounty.org
Assistant: Kim Swanson
District Three Commissioner JoAnn Birrell
770-528-3317 joann.birrell@cobbcounty.org
Assistant: Inger Eberhart
District Four Commissioner Lisa Cupid 770-528-3311 lisa.cupid@cobbcounty.org Assistants: Marva Harris and Andrea Ashmore
x
xi
Cobb County, Georgia
County Manager
Rob Hosack
Finance Department
Director of Finance/Comptroller ................................ William Volckmann
Associate Comptroller ............................................................. Buddy Tesar
Accounting Division Manager ...................................... Lindy Tisdel, CPA
Accounts Payable Division Manager ...................................... Stefani Balli
Budget Division Manager ........................................................ Susan Revill
Payroll Division Manager ................................................... Maureen Claffy
Risk Division Manager ............................................................. Brett LaFoy
COMPREHENSIVE ANNUAL FINANCIAL REPORT Return to Table of Contents
Cobb County Finance Department, 100 Cherokee Street, Marietta, Georgia 30090
FINANCIAL SECTION
The Financial Section includes the Management’s Discussion and Analysis (MD&A), the basic financial statements and Required Supplemental Information (RSI) as well as the independent auditor’s report. The MD&A is intended to provide users with a narrative introduction, overview and analysis of the financial statements. The RSI is intended to provide users with budgetary comparisons, infrastructure condition and maintenance data and pension trend data.
NICHOLS, CAULEY & ASSOCIATES, LLC 1825 Barrett Lakes Blvd, Suite 200
Kennesaw, Georgia 30144
770-422-0598 FAX 678-214-2355
kennesaw@nicholscauley.com
A t l a n t a | C a l h o u n | C a n t o n | D a l t o n | D u b l i n
K e n n e s a w | R o m e | W a r n e r R o b i n s
INDEPENDENT AUDITOR'S REPORT
The Honorable Mike Boyce, Chairman
Members of the Cobb County Board of Commissioners
Cobb County, Georgia
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities, the business-
type activities, the aggregate discretely presented component unit, each major fund and the aggregate
remaining fund information of Cobb County, Georgia, as of and for the year ended September 30,
2018, and the related notes to the financial statements, which collectively comprise the County’s
basic financial statements as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this
includes the design, implementation, and maintenance of internal control relevant to the preparation
and fair presentation of financial statements that are free from material misstatement, whether due to
fraud or error.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. 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 from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures
in the financial statements. The procedures selected depend on the auditor’s judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or
error. In making those risk assessments, the auditor considers internal control relevant to the entity’s
preparation and fair presentation of the financial statements in order to design audit procedures that
are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
1
effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also
includes evaluating the appropriateness of accounting policies used and the reasonableness of
significant accounting estimates made by management, as well as evaluating the overall presentation
of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our audit opinions.
Opinions
In our opinion, 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 unit, each major fund, and the aggregate remaining fund
information of Cobb County, Georgia, as of September 30, 2018, and the respective changes in
financial position, and, where applicable, cash flows thereof and for the year then ended in
accordance with accounting principles generally accepted in the United States of America.
Emphasis of Matter
As described in Note 26, the County implemented Governmental Accounting Standards Board
(GASB) Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other
than Pensions, for the year ending September 30, 2018. This standard significantly changes the
accounting for the County’s net OPEB liability and the related disclosures. Our opinion is not
modified with respect to this matter.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the
management’s discussion and analysis, the schedule of changes in net pension liability and related
ratios, schedule of pension contributions, schedule of pension investment returns, schedule of net
changes in OPEB liability and related ratios, schedule of OPEB contributions, the schedule of OPEB
investment returns, and the General Fund and Fire District Special Revenue Fund budgetary
comparison schedules, on pages 4-17 and pages 79-87 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 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.
2
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise Cobb County, Georgia’s basic financial statements. The introductory section,
combining and individual nonmajor fund financial statements and schedules, supplemental
information, the statistical section, the schedule of projects constructed with special sales tax
proceeds, and the water and sewer fund comparative statement of revenues and expenses are
presented for purposes of additional analysis and are not a required part of the basic financial
statements. The Schedule of Projects Constructed with Special Sales Tax Proceeds is presented for
purposes of additional analysis as required by the Official Code of Georgia 48-8-121, and is not a
required part of the basic financial statements.
The combining and individual nonmajor fund financial statements and schedules, supplemental
information, the schedule of projects constructed with special sales tax proceeds, and the water and
sewer fund comparative statement of revenues and expenses are the responsibility of management
and were derived from and relate directly to the underlying accounting and other records used to
prepare the basic financial statements. Such information has been subjected to the auditing
procedures applied in the audit of the basic financial statements and certain additional procedures,
including comparing and reconciling such information directly to the underlying accounting and
other records used to prepare the basic financial statements or to the basic financial statements
themselves, and other additional procedures in accordance with auditing standards generally
accepted in the United States of America. In our opinion, the combining and individual nonmajor
fund financial statements and schedules, supplemental information, the schedule of projects
constructed with special sales tax proceeds, and the water and sewer fund comparative statement of
revenues and expenses are fairly stated in all material respects in relation to the basic financial
statements as a whole.
The introductory and statistical sections have not been subjected to the auditing procedures applied
in the audit of the basic financial statements and, accordingly, we do not express an opinion or
provide any assurance on them.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated March 22, 2019, on our consideration of Cobb County, Georgia’s internal control over financial reporting and
on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant
agreements and other matters. The purpose of that report is to describe the scope of our testing of
internal control over financial reporting and compliance and the results of that testing, and not to
provide an opinion on internal control over financial reporting or on compliance. That report is an
integral part of an audit performed in accordance with Government Auditing Standards in
considering Cobb County, Georgia’s internal control over financial reporting and compliance.
Kennesaw, GA
March 22, 2019
3
COMPREHENSIVE ANNUAL FINANCIAL REPORT Return to Table of Contents
Cobb County Finance Department, 100 Cherokee Street, Marietta, Georgia 30090
MANAGEMENT’S DISCUSSION & ANALYSIS
COBB COUNTY GOVERNMENT
Management’s Discussion and Analysis
For the Fiscal Year Ended September 30, 2018
The Management’s Discussion and Analysis of Cobb County Government’s Comprehensive Annual
Financial Report (CAFR) provides an overall narrative and analysis of the County’s financial statements for
the fiscal year ended September 30, 2018. This discussion and analysis is designed to look at the County’s
financial performance as a whole. Readers should also review the information presented here in conjunction
with additional information that we have furnished in the financial statements and the notes to the financial
statements to enhance their understanding of Cobb County’s financial performance.
Financial Highlights
Key financial highlights for FY18 are as follows:
The County’s combined net position totaled $4.7 billion. Of this amount, $319.3 million is restricted for renewal and expansion, debt service, and various projects and programs.
Combined revenue totaled $1.1 billion of which governmental activities totaled $814.0 million and business-type activities totaled $249.2 million.
Overall expenses totaled $958.8 million of which governmental activities totaled $722.7 million and business-type activities totaled $236.1 million.
At the end of September 30, 2018, governmental activities expenses exceeded program revenues, resulting in the use of $523.3 million in general revenues (mostly taxes).
At September 30, 2018, the County’s General Fund reported an unassigned fund balance of $108.8 million.
Overview of the Financial Statements
This is the thirteenth Comprehensive Annual Financial Report (CAFR) Cobb County has issued under the
Governmental Accounting Standards Board (GASB) Statement 34. The following illustration is provided as
a guide for the financial statements:
Management's Discussion
and Analysis Required
Supplementary
Information
Government-
wide Financial
Statements
Fund Financial Statements
Governmental
Funds
Proprietary
Funds
Fiduciary
Funds
Basic
Financial
Statements
Notes to the Financial Statements
Information on Individual
Non-major Funds and Other
Supplementary Information
Supplementary
Information
4
COBB COUNTY GOVERNMENT
Management’s Discussion and Analysis
For the Fiscal Year Ended September 30, 2018
This discussion and analysis is intended to serve as an introduction to the County’s basic financial statements.
The basic financial statements are comprised of three components: 1) government-wide financial statements,
2) fund financial statements and 3) notes to the financial statements. This report also contains other
supplementary information in addition to the basic financial statements themselves.
Government-wide Financial Statements
The Government-wide financial statements provide a broad view of the County’s operations in a manner
similar to a private-sector business. The statements provide both short-term and long-term information about
the County’s financial position, which assists in assessing the economic condition at the end of the fiscal
year. These statements are prepared using the flow of economic resources measurement focus and the accrual
basis of accounting. This means the statements take into account all revenues and expenses connected with
the fiscal year even if cash involved has not been received or paid. There are two Government-wide financial
statements, the Statement of Net Position and the Statement of Activities which are described below.
The Statement of Net Position presents information on all of the County’s assets, deferred outflows of
resources, liabilities, and deferred inflows of resources, with residual of all other elements reported as net
position. Over time, increases or decreases in net position may serve as a useful indicator of whether the
financial position of the County is improving or deteriorating.
The Statement of Activities presents information showing how the County’s net position changed during the
most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise
to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported
in this statement for some items that will not result in cash flows until future fiscal periods (e.g. uncollected
taxes and earned but unused vacation leave). This statement also presents a comparison between direct
expense and program revenues for each function of the County.
Both government-wide financial statements distinguish functions of Cobb County Government that are
principally supported by taxes and intergovernmental revenues from other functions that are intended to
recover all or a significant portion of their costs through user fees and charges. The governmental activities
include general government, public safety, public works, health and welfare, culture and recreation and
housing and development. The business-type activities include Water and Sewer, Performing Arts Centre,
Solid Waste Operations, Transit, Golf Course Operations, and Galleria Specialty Shops.
The government-wide financial statements include not only Cobb County Government and its two blended
component units Cobb-Marietta Coliseum and Exhibit Hall Authority and the South Cobb Redevelopment
Authority (SCRA), but also a legally separate Board of Health for which the government is financially
accountable. Financial information for the Cobb County Board of Health are reported separately from the
financial information presented for the primary government itself.
Fund Financial Statements
A Fund is a grouping of related accounts that is used to maintain control over resources that have been
segregated for specific activities or objectives. The County, like other state and local governments, uses fund
accounting to ensure and demonstrate compliance with finance-related legal requirements.
The fund financial statements focus on individual parts of the County government, reporting the County’s
operations in more detail than the government-wide statements. All of the funds of the County can be divided
into three categories: governmental funds, proprietary funds and fiduciary funds. It is important to note that
these fund categories use different accounting approaches and should be interpreted differently.
5
COBB COUNTY GOVERNMENT
Management’s Discussion and Analysis
For the Fiscal Year Ended September 30, 2018
Governmental Funds
Most of the basic services provided by the County are financed through governmental funds. Governmental
funds are used to account for essentially the same functions reported as governmental activities in the
government-wide financial statements. However, unlike the government-wide statements, the governmental
fund financial statements focus on near-term inflows and outflows of spendable resources. They also focus
on the balances of spendable resources available at the end of the fiscal year. Such information may be useful
in evaluating the government’s near-term financing requirements. This approach is known as using the flow
of current financial resources measurement focus and the modified accrual basis of accounting. These
statements provide a detailed short-term view of the County’s finances that assists in determining whether
there will be adequate financial resources available to meet the County’s current needs.
The County maintains four governmental fund types: the General Fund; Special Revenue Funds (Fire District,
Street Light District, Law Library, Community Services, Grant, Housing and Urban Development Grant,
Hotel/Motel Tax, Emergency 911, Parking Deck Facility, Six Flags Special Service District, Cumberland
Special Service District 1, Cumberland Special Service District 2, CMCEHA, 800 MHz, and Stadium Capital
Maintenance); Debt Service Funds; and the Capital Projects Funds (Public Facilities, SPLOST, SCRA
Construction, Parks Bond Land Acquisition, CMECHA Stadium Construction and Stadium Construction).
Information is presented separately in the governmental fund balance sheet and in the governmental fund
statement of revenues, expenditures and changes in fund balances for the General Fund, Fire District Fund,
and the SPLOST Fund, all of which are considered to be major funds. Data from the other governmental
funds are combined into a single, aggregated presentation. The basic governmental fund financial statements
can be found on pages 20-23.
Proprietary Funds
Proprietary funds are used to account for activities that operate similar to those commercial enterprises found
in the private sector. Because these funds charge fees for services provided to outside customers including
local governments, they are known as enterprise funds. Proprietary funds use the accrual basis of accounting,
thus there is no reconciliation needed between the government-wide financial statements for business-type
activities and the proprietary fund financial statements.
The County has seven proprietary funds: Water and Sewer Fund, Performing Arts Centre Fund, Galleria
Specialty Shops, Solid Waste Disposal Fund, Cobblestone Golf Course Fund, Public Transit System Fund
and the Claims Internal Service Fund. The Claims Internal Service Fund, which accounts for services
performed by a central service department for other departments or agencies of the governmental unit, is
comprised of the Health and Dental Fund, the Casualty and Liability Fund, and the Workmen’s Compensation
Fund. The proprietary funds provide the same type of information as the government-wide financial
statements, only in more detail. The proprietary fund financial statements provide information for the Water
and Sewer Fund which is considered a major fund of the County. The basic proprietary fund financial
statements can be found on pages 24-28 of this report.
6
COBB COUNTY GOVERNMENT
Management’s Discussion and Analysis
For the Fiscal Year Ended September 30, 2018
Fiduciary Funds
The Fiduciary funds are used to account for assets held by the County as an agent for individuals, private
organizations, other governments and other County departments. The County is responsible for ensuring that
the assets reported in these funds are used only for their intended purposes and only by those to whom the
assets belong. These funds are not reflected in the government-wide financial statements because the
resources are not available to support the County’s operations or programs. The accounting used for fiduciary
funds is much like that used for proprietary funds. Cobb County maintains eleven fiduciary funds; nine
agency funds for Clerk of State Court, Clerk of Juvenile Court, Sheriff, Clerk of Superior Court, Clerk of
Probate Court, Tax Commissioner, Accounts Payable Fund, Payroll Fund, the Child Support, Witness and
Jurors’ Fees, and two trust funds for the Pension Fund, and the Other Post Employment Benefit Fund. The
basic fiduciary funds financial statements can be found on pages 29-30 of this report.
Component Units
Cobb County has three component units; Cobb-Marietta Coliseum and Exhibit Hall Authority, the South
Cobb Redevelopment Authority (SCRA), and the Cobb County Board of Health. The Cobb-Marietta
Coliseum and Exhibit Hall Authority and the South Cobb Redevelopment Authority (SCRA) are reported as
blended component units, and the Cobb County Board of Health is a discretely presented component unit.
The component units are included in the financial statements because of their operational and financial
relationship to the County. The financial statements include the financial data for the County’s component
units as reflected in their most recent audited financial statements. The information presented for the Cobb
County Board of Health is as of and for the year ended June 30, 2018.
Budgetary Comparisons
Cobb County adopts an annual appropriated budget for the General Fund, Special Revenue Funds, and the
Debt Service Funds. A budgetary comparison schedule has been provided for the General Fund and Fire
District Special Revenue Fund and can be found on pages 86-87. Budget to actual comparisons for some of
the non-major funds are provided in individual schedules elsewhere in this report.
Notes to the Financial Statements
The notes provide additional information that is essential to a full understanding of the data provided in the
government-wide and fund financial statements. The notes to the financial statements can be found on pages
31-78 of this report.
During 2018 the County implemented GASB Statement No. 75 “Accounting and Financial Reporting for
Postemployment Benefit Plans Other Than Pensions.”
7
COBB COUNTY GOVERNMENT
Management’s Discussion and Analysis
For the Fiscal Year Ended September 30, 2018
Government-wide Financial Analysis
Net Position
As noted earlier, net position may serve over time as a useful indicator of a government’s financial position.
The County’s combined net position (government and business-type activities) totaled $4.7 billion at
September 30, 2018.
The following table provides a summary of the County’s governmental and business-type net position for
fiscal years 2018 and 2017: Cobb County, Georgia
S tatement of Net Position
Activities Activities Activities Activities Total Total
Assets:
Current assets $ 605,458,936 $ 563,717,978 $ 115,123,452 $ 111,364,548 $ 720,582,388 $ 675,082,526
Other - noncurrent - 9,004,204 - 890,526 - 9,894,730
Cap ital assets - net 4,067,821,140 3,983,221,643 1,713,850,212 1,722,693,930 5,781,671,352 5,705,915,573
Total assets $ 4,673,280,076 $ 4,555,943,825 $ 1,828,973,664 $ 1,834,949,004 $ 6,502,253,740 $ 6,390,892,829
Deferred Outflows of Resources
Deferred outflows related to OPEB $ 26,633,806 $ - $ 2,579,716 $ - $ 29,213,522 $ -
Deferred outflows related to p ensions 107,952,112 33,924,611 9,604,364 3,074,638 117,556,476 36,999,249
Deferred charges on bond refunding 877,377 1,078,521 - - 877,377 1,078,521
Total deferred outflows $ 135,463,295 $ 35,003,132 $ 12,184,080 $ 3,074,638 $ 147,647,375 $ 38,077,770
Total Assets and Deferred
Outflows of Resources $ 4,808,743,371 $ 4,590,946,957 $ 1,841,157,744 $ 1,838,023,642 $ 6,649,901,115 $ 6,428,970,599
Liabilities
Current liabilities $ 162,103,636 $ 131,651,823 $ 45,446,412 $ 34,405,256 $ 207,550,048 $ 166,057,079
Long-term liabilities (net) 1,313,418,678 1,240,939,521 347,603,603 363,074,867 1,661,022,281 1,604,014,388
Total liabilities $ 1,475,522,314 $ 1,372,591,344 $ 393,050,015 $ 397,480,123 $ 1,868,572,329 $ 1,770,071,467
Deferred Inflows of Resources
Deferred inflows related to OPEB $ 9,401,292 $ - $ 910,597 $ - $ 10,311,889 $ -
Deferred inflows related to p ensions 21,201,563 13,825,718 1,886,275 1,253,045 23,087,838 15,078,763
Deferred gain on refunding 334,669 394,131 971,110 1,165,333 1,305,779 1,559,464
Total deferred inflows $ 30,937,524 $ 14,219,849 $ 3,767,982 $ 2,418,378 $ 34,705,506 $ 16,638,227
Total Liabilities and Deferred
Inflows of Resources $ 1,506,459,838 $ 1,386,811,193 $ 396,817,997 $ 399,898,501 $ 1,903,277,835 $ 1,786,709,694
Net Position
Net investment in cap ital assets $ 3,597,754,891 $ 3,517,507,657 $ 1,460,332,315 $ 1,442,879,862 $ 5,058,087,206 $ 4,960,387,519
Restricted 274,860,968 271,896,684 44,410,711 48,915,985 319,271,679 320,812,669
Unrestricted (570,332,326) (585,268,577) (60,403,279) (53,670,706) (630,735,605) (638,939,283)
Total net p osition $ 3,302,283,533 $ 3,204,135,764 $ 1,444,339,747 $ 1,438,125,141 $ 4,746,623,280 $ 4,642,260,905
(1) As restated.
Governmental
2018
Business-type
2018 2017 (1)2018
Governmental Business-type
2017 (1) 2017 (1)
100% of the County’s net position reflects its investment in capital assets such as land, buildings, equipment
and infrastructure (roads, bridges, sidewalks, water lines and sewer lines) less any related debt used to acquire
those assets that is still outstanding. Net investment in capital assets increased by $97.7 million (1.97%) in
FY18.
The County uses these capital assets to provide services to its citizens; therefore, these assets are not available
for future spending. Although the County’s investment in its capital assets is reported net of related debt, it
should be noted that the resources needed to repay this debt must be provided from other sources, since the
capital assets themselves cannot be used to liquidate these liabilities.
8
COBB COUNTY GOVERNMENT
Management’s Discussion and Analysis
For the Fiscal Year Ended September 30, 2018
Changes in Net Position
Governmental and business-type activities increased the County’s net position by $104.4 million in FY18.
The following table indicates the changes in net position for governmental and business-type activities in
FY18 and FY17:
Activities Activities Activities Activities Total Total
Revenues:
Program Revenues:
Charges for Services $ 127,788,528 $ 121,501,221 $ 217,443,182 $ 219,728,233 $ 345,231,710 $ 341,229,454
Operating Grants & Contributions 21,934,660 25,965,261 - - 21,934,660 25,965,261
Capital Grants & Contributions 49,707,069 172,987,488 30,000,062 31,879,589 79,707,131 204,867,077
General Revenues:
Property Taxes 385,637,151 313,253,222 - - 385,637,151 313,253,222
Other Taxes 216,550,370 207,739,634 - - 216,550,370 207,739,634
Other 12,354,756 10,652,219 1,733,126 1,272,850 14,087,882 11,925,069
Total Revenues $ 813,972,534 $ 852,099,045 $ 249,176,370 $ 252,880,672 $ 1,063,148,904 $ 1,104,979,717
Expenses:
General government $ 165,424,633 $ 154,788,215 $ - $ - $ 165,424,633 $ 154,788,215
Public safety 289,469,163 273,691,096 - - 289,469,163 273,691,096
Public works 143,129,556 140,071,410 - - 143,129,556 140,071,410
Health and welfare 7,903,359 7,708,828 - - 7,903,359 7,708,828
Culture and recreation 78,642,971 65,875,330 - - 78,642,971 65,875,330
Housing and development 17,411,304 16,763,846 - - 17,411,304 16,763,846
Interest on long-term debt 20,721,554 20,720,935 - - 20,721,554 20,720,935
Water and Sewer - - 195,603,970 190,668,592 195,603,970 190,668,592
Solid Waste Disposal - - 736,392 773,708 736,392 773,708
Public Transit System - - 27,003,918 27,369,365 27,003,918 27,369,365
Cobblestone Golf Course - - 1,694,487 1,718,217 1,694,487 1,718,217
Galleria Speciality Shops - - 1,004,250 930,856 1,004,250 930,856
Performing Arts Centre - - 10,040,972 10,396,336 10,040,972 10,396,336
Total Expenses: $ 722,702,540 $ 679,619,660 $ 236,083,989 $ 231,857,074 $ 958,786,529 $ 911,476,734
Increase in net position before transfers $ 91,269,994 $ 172,479,385 $ 13,092,381 $ 21,023,598 $ 104,362,375 $ 193,502,983
Transfers 6,877,775 5,321,598 (6,877,775) (5,321,598) - -
Increase in net position $ 98,147,769 $ 177,800,983 $ 6,214,606 $ 15,702,000 $ 104,362,375 $ 193,502,983
Net Position - beginning $ 3,391,711,278 $ 3,274,708,104 $ 1,456,311,854 $ 1,446,950,673 $ 4,848,023,132 $ 4,721,658,777
Restatement $ (187,575,514) $ (60,797,809) $ (18,186,713) $ (6,340,819) $ (205,762,227) $ (67,138,628)
Net Position - ending $ 3,302,283,533 $ 3,391,711,278 $ 1,444,339,747 $ 1,456,311,854 $ 4,746,623,280 $ 4,848,023,132
Governmental
2018 2018 2017
Governmental Business-type
2017 2017
Business-type
2018
The effect of implementing GASB No. 75 to previously reported changes in net position has not been
determined.
9
COBB COUNTY GOVERNMENT
Management’s Discussion and Analysis
For the Fiscal Year Ended September 30, 2018
Governmental Activities
Governmental activities increased the County’s net position by $98.1 million thereby accounting for 94.0%
of the total growth in net position.
15.7%
74.0%
2.7%
6.1%
1.5%
Revenues - Governmental Activities
FY 2018
Charges for Services
Taxes
Oper ating Grants &
Contribu tio ns
Capital Grants &
Contribu tio ns
Other
$- $20,000,000 $40,000,000 $60,000,000 $80,000,000
$100,000,000 $120,000,000 $140,000,000 $160,000,000 $180,000,000 $200,000,000 $220,000,000 $240,000,000 $260,000,000 $280,000,000 $300,000,000
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c w
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Expenses - Governmental Activities
FY2018
10
COBB COUNTY GOVERNMENT
Management’s Discussion and Analysis
For the Fiscal Year Ended September 30, 2018
Business-type Activities
Business-type activities increased the County’s net position by $6.2 million thereby accounting for 6.0% of
the total growth in net position.
Changes in Overall Net Position from Operating Results
Revenues
The County’s total revenue decreased 3.8%, or $41.8 million, in FY18. The County’s decrease in revenue
was attributed to a $125.1 million decrease in capital contributions for culture and recreation and public
works. This was offset by an increase of $81.2 million in Property and Other Taxes.
Expenses
The County’s total expenses increased 5.2%, or $47.3 million, in FY18. $43.1 million of this increase is
related to governmental activities and $4.2 million is related to business-type activities. The three functions
that had the largest increases over the prior year were Public Safety ($15.8 million), Culture and Recreation
($12.8 million), and General Government ($10.6 million).
Financial Analysis of the County’s Individual Funds
Cobb County uses fund accounting to ensure and demonstrate compliance with finance-related legal
requirements. All the funds of Cobb County can be divided into three categories: governmental funds,
proprietary funds, and fiduciary funds.
The focus of the County’s governmental funds is to provide information on near-term inflows, outflows and
balances of spendable resources. Such information is useful in assessing the County’s financing
requirements. In particular, the unassigned fund balance may serve as a useful measure of a government’s
net resources available for spending at the end of the fiscal year.
The County ended FY18 with strong fund balances in its governmental funds. The combined balance of all
the governmental funds is $402.6 million. Of this total, $106.9 million or 26.6% represents unassigned fund
balance, which is available for spending in the coming year. The remainder of fund balance is nonspendable,
restricted, committed or assigned to indicate that it is not available for new spending because it has already
been designated: 1) to liquidate contracts, purchase orders and inventories of the prior period 2) to pay debt
service and 3) for a variety of other restricted purposes.
Major Funds:
General Fund
The General Fund is the primary operating fund of the County. At the end of the current fiscal year,
unassigned fund balance of the General Fund was $108.8 million, and total fund balance was $130.1 million.
As a measure of the General Fund’s liquidity, it may be useful to compare both unassigned fund balance and
total fund balance to total fund expenditures. Unassigned fund balance represents 29.4% of total general
fund operating expenditures and total fund balance represents 35.1% of that same amount.
The fund balance of the General Fund increased $40.0 million in FY18 for a total of $130.1 million. The
Board of Commissioners made a collaborative effort to focus on maintaining the county’s excellent financial
position. Revenues increased $72.4 million (20.3%) while operating expenditures increased $10.8 million
(3.0%). Property taxes made up the largest increase in revenues.
Total transfers out of the General Fund of $50.8 million represent the appropriation of funds to the Public
Facilities Fund, Transit Fund, Solid Waste Fund, Water System Funds, CMCEHA Fund, and the Grant Fund.
Fire District Fund
The Fire Fund is used to account for the operation of the fire department within the County. $35.6 million of
fund balance is reported as restricted for construction and capital outlay while $14.1 thousand is
nonspendable due to inventories and prepaid items. The fund balance increased by $1.8 million during the
11
COBB COUNTY GOVERNMENT
Management’s Discussion and Analysis
For the Fiscal Year Ended September 30, 2018
current fiscal year mainly due to transfers out for the relocation of fire station #17 and the purchase of
property for a new fire station in the previous year. While total assets decreased $13.5 million, total liabilities
also decreased by $15.6 million.
SPLOST Fund
The SPLOST Fund accounts for the financial resources provided from the 2006, 2011, and 2016 one percent
Special Purpose Local Option Sales Tax. Such funds were approved by voter referendum for public safety
and transportation projects, as well as parks, recreational and cultural affairs, and support services. At the
end of the current fiscal year, the SPLOST Fund reported a fund balance of $168.7 million which is restricted
for specific construction projects. Expenditures exceeded revenues by $19.9 million. Of the $193.2 million
in expenditures, $11.9 million was spent on facility projects by the County’s Property Management and Parks
Divisions, $19.9 million for Public Safety, $118.7 million was spent on various DOT safety and improvement
road, bridge and sidewalk projects, and $6.0 million was spent on principal and interest for capital leases.
The remaining $36.7 million represents payments to the cities for their portion of SPLOST proceeds.
Nonmajor Funds:
Special Revenue Funds
The County uses Special Revenue Funds to account for the collection and disbursement of specific revenues
that are legally restricted or committed to expenditures for specified purposes. Included in this classification
are: Law Library Fund, Community Services Fund, Grant Fund, Housing and Urban Development Grant
Fund, Hotel/Motel Tax Fund, Emergency 911 Fund, Parking Deck Facility Fund, 800 MHz Fund, Streetlight
District Fund, Six Flags Special Service District Fund, Cumberland Special Service District 1 and 2 Funds,
CMCEHA Fund, and the Stadium Capital Maintenance Fund.
Non-major Special Revenue Funds’ operating revenue totaled $85.9 million for the fiscal year ended
September 30, 2018. Total operating revenues increased by $2.1 million (2.6%). This increase was attributed
primarily to a $1.3 million increase in CMCEHA Fund charges for services and a $1.0 million increase in
Cumberland Special Service District 2 Fund tax revenues.
Operating expenditures of the non-major Special Revenue Funds totaled $62.0 million for FY18. Total Non-
major Special Revenue Funds’ operating expenditures remained relatively flat with an increase of $1.0
million (1.6%).
The fund balance of the nonmajor Special Revenue Funds totaled $50.2 million. This was an increase of $8.7
million from FY17.
CMCEHA and BOC Debt Service Funds
The Debt Service Funds reflects the accumulation of monies for, and the payment of, principal and interest
on all General Obligation Debt other than that issued specifically for enterprise activities. The Debt Service
Funds had a total fund balance of $12.7 million, all of which is reserved for the payment of debt service.
Capital Project Funds
The County uses Capital Project Funds to account for the acquisition, construction and improvement of major
capital projects that are not financed by Proprietary Funds. The proceeds of General Obligation Bond issues
are accounted for in the Capital Project Funds until improvement projects are completed. The non-major
Capital Project Funds’ overall fund balance is $5.2 million. $140 thousand is nonspendable for prepaid
expenditures and $7.0 million is restricted or committed for specific construction and improvement projects
and capital acquisitions which is offset by a negative unassigned fund balance of $1.9 million.
Operating expenditures exceeded operating revenues by $38.4 million for the non-major Capital Project
Funds which was partially offset by transfers in of $14.6 million. In the Capital Project Funds, the primary
expenditures are accounted for in various Information Services computer replacement projects, county
building construction and renovation projects, and park land acquisition.
12
COBB COUNTY GOVERNMENT
Management’s Discussion and Analysis
For the Fiscal Year Ended September 30, 2018
Proprietary Funds
The activities of the County that render services to the general public on a user charge basis, or that require
periodic determination of revenues for public policy are accounted for as Proprietary Funds. The Proprietary
Fund statements provide the same type of information found in the government-wide financial statements,
but in more detail.
Major Funds:
Water and Sewer Fund
The Water and Sewer Fund accounts for the operation of the water distribution system and sewage processing
plants. Unrestricted net position of the Water and Sewer Fund at the end of the year was ($27.6) million. The
fund had a change in net position of $3.0 million in FY18 mostly due to $18.0 million in capital contributions.
Non-major Funds:
The Cobblestone Golf Course Fund accounts for the operations and maintenance of the County’s golf course.
It ended FY18 with a net income from operations before depreciation of $26.0 thousand. However, overall
change in net position (including depreciation, non-operating revenues and transfers out) was $(9.9) thousand
for FY18. Net position totaled $3.3 million.
The Public Transit System Fund accounts for the operation of the local public transit system through user
fees and funds received from the Federal Transit Authority and the Georgia Department of Transportation.
The Public Transit System Fund ended FY18 with a change in net position of $3.1 million. Net position
totaled $62.6 million at the end of the fiscal year.
The Solid Waste Disposal Fund accounts for the operation of the County’s public landfills and solid waste
processing. The County’s Solid Waste Disposal Facility generated an inception-to-date net loss of $17.1
million; however, it generated a net income from operations before depreciation of $214.3 thousand. Per
GASB Statement No. 18, once a landfill stops accepting waste, it is required to be closed and the liability of
closure and post-closure is recorded as of the balance sheet date even though the expenses will be paid out
over 30 years. The FY18 landfill liability is $22.9 million.
The Performing Arts Centre Fund ended the year with negative unrestricted net position of $6.3 million. The
fund had a negative change in net position of $307.3 thousand in FY18, which included depreciation expense
of $2.2 million.
The Galleria Specialty Shop Fund accounts for the activities of the Authority’s retail specialty shops. The
Galleria Specialty Shop Fund’s operating revenue increased $13.4 thousand (2.7%) from FY17 and total
operating expenses increased by $72.1 thousand (9.7%). A transfer in of $500.0 thousand from the
CMCEHA fund was used to offset the operating loss before transfers. Net position totaled $3.6 million at
the end of the fiscal year.
General Fund Budgetary Highlights
Cobb County operated under an annual balanced budget (budgeted revenues equal budgeted expenditures),
which is adopted by resolution and administered in accordance to State law. The legal level of control (the
level at which expenditures may not legally exceed appropriations) for each legally adopted annual operating
budget is at the category level within departments.
The most significant expenditure amendments are summarized as follows:
General Government
General Government had an overall $8.1 million increase. The final budget is a result of increases in personnel services ($1.9 million), operating expenditures ($4.4 million) and capital outlay ($1.7
million). The Legislative departments recognized an overall $1.2 million increase in the final
budgets for personnel service and operating expenditures. The Judicial departments recognized an
13
COBB COUNTY GOVERNMENT
Management’s Discussion and Analysis
For the Fiscal Year Ended September 30, 2018
overall $4.9 million increase in the final budgets for personnel service, operating expenditures, and
capital outlays. The Executive and Administrative departments recognized an overall $1.9 million
increase in the final budgets for personnel service, operating expenditures and capital outlay.
Public Safety
Public Safety had an overall $14.4 million increase. Personnel services increased $6.4 million. Operating expenditures increased by $4.4 million mainly due to increased medical and
dental services for inmates held at the County’s Adult Detention Center and contractual fees paid
for the school bus stop arm camera program. Capital outlay increased $3.6 million primarily due to
police department vehicle replacements.
Public Works:
Public Works had an overall $0.1 million increase. This increase is due mainly to an increase in capital outlays of $0.3 million for traffic control equipment. A decrease in personnel services offset
the overall increase.
Culture and Recreation:
Culture and Recreation had an overall increase of $3.3 million. Personnel services increased $1.0. There was an increase in operating expenditures of $1.1 million to provide increased landscaping
and other grounds and maintenance services at the various park locations. Capital outlay increased
by $1.2 million for the construction of playgrounds and various building and land improvements.
Housing and Development:
Housing and Development had an overall increase of $0.2 million. There was an increase in operating expenditures of $0.2 million. Operating increases were due to expanded services within
the Community Development Agency.
The County’s final budget less reserves projected a loss of $37.8 million in the General Fund with the fund
reporting an increase of $33.8 million. Overall revenues ended the year $72.8 million over budget while
operating expenditures ended the fiscal year $0.8 million under budget. Expenditure control was very
important in the FY18 budget and will continue to remain the focus for the future while we look for innovative
ways to maintain consistent levels of service with a commitment to the community to be more efficient and
accessible.
Capital Assets and Debt Administration
Capital Assets
The County’s investment in capital assets for its governmental and business-type activities as of September
30, 2018 amounts to $5.1 billion (net of accumulated depreciation and related debt). This investment in
capital assets includes land, buildings, improvements, equipment, infrastructure and construction in progress.
Infrastructure assets are items that are normally immovable and of value only to the County, such as roads,
bridges, streets and sidewalks, drainage systems and other similar items.
14
COBB COUNTY GOVERNMENT
Management’s Discussion and Analysis
For the Fiscal Year Ended September 30, 2018
Cobb County's Capital Assets
(Net of Depreciation)
(in thousands)
2018 2017 2018 2017 2018 2017
Land $ 1,156,399 1,086,932 84,754$ 84,082$ 1,241,153$ 1,171,014$
Artwork - - 199 199 199 199
Buildings and structures 983,093 941,666 109,314 112,644 1,092,407 1,054,310
Improvements 161,084 33,047 - - 161,084 33,047
Sewerage plants - - 832,262 471,709 832,262 471,709
Machinery and equipment 73,535 75,594 47,539 40,039 121,074 115,633
Infrastructure 1,571,285 1,551,169 604,501 617,660 2,175,786 2,168,829
Construction in progress 122,425 294,814 35,281 396,361 157,706 691,175
Total $ 4,067,821 3,983,222 1,713,850$ 1,722,694$ 5,781,671$ 5,705,916$
Total
Primary Government
Business-type
Activities
Governmental
Activities
The County’s total net increase in capital assets for the current fiscal year was 1.3%.
Governmental assets that were moved from construction in progress to the asset records during the year
totaled approximately $300.8 million. Some of the major projects for FY18 consisted of the following: road
construction or improvements, park facility renovations, and fire station upgrades. In addition, all of the
Special Purpose Local Option Sales Tax (SPLOST) programs that were approved by voters in September
2005, March 2011, and subsequently in November 2015 funded various improvements around the County.
The 2011 & 2016 SPLOST Programs have added various opportunities for DOT to pursue projects not
approved during the 2005 SPLOST Program conception phase. Every project funded by the 2011-16
SPLOSTs will improve the quality of life in Cobb County by maintaining, improving and enhancing County
parks, transportation, infrastructure, public safety, libraries, senior services, judicial, and public health
facilities. Projects include infrastructure preservation (resurfacing, bridges and drainage), pedestrian
improvements, transit, traffic congestion relief, safety and operational improvements (roadways,
intersections, and school zones), and federal/state matching funds. A complete list of the projects, including
their status, and further details regarding the 2011-2016 SPLOST programs are available on the County’s
website.
Business-type assets moved from construction in progress to the asset records during the year totaled
approximately $391.9 million. Some of the major capital asset events for the business-type activities for the
current year included various sewer replacement and rehabilitations, water line and water main replacements,
continuation of a sewer conveyance capacity and equalization tunnel system as well as the continued
construction, upgrades and expansion of several water reclamation facilities.
Additional information on the County’s capital assets can be found in Note 5 of the Basic Financial
Statements section of this report.
Long-Term Debt
As of September 30, 2018, Cobb County had a net of $1.7 billion in outstanding long-term debt, which does
not include interest expense. Of this amount, $23.3 million (net of bond premium) comprises general
obligation debt backed by the full faith and credit of the government and $588.1 million in revenue bonds
(net of bond premium).
Additional information on Cobb County’s long-term debt can be found in Note 9 of the Basic Financial
Statements section of this report.
15
COBB COUNTY GOVERNMENT
Management’s Discussion and Analysis
For the Fiscal Year Ended September 30, 2018
Awards, Economic Factors and Next Year’s Budget and Rates
For the fourteenth year in a row, the Cobb County Water System has maintained its Triple-Triple "A” ratings
from the nation's top three credit rating agencies. The Water System has earned numerous honors from the
Georgia Association of Water Professionals including seventeen consecutive years of Complete and
Consistent NPDES Permit Compliance at Northwest Water Reclamation Facility, twelve consecutive years
at Noonday Water Reclamation Facility, and seven consecutive years at R.L. Sutton Water Reclamation
Facility. In 2018, South Cobb Water Reclamation Facility earned a Gold Award for Complete and Consistent
NPDES Permit Compliance. In April, 2018, the Georgia GAWP awarded the Water System a
Comprehensive Program of Excellence Award for its wastewater education and watershed education
programs for the second consecutive year. In May, 2018, J.D. Power Consumer Satisfaction Survey ranked
the Water System as the 3rd Highest for Water Utility Residential Customer Satisfaction in the South
Region. In October, 2018, the U.S. Environmental Protection Agency honored the Cobb County Water
System by awarding them the 2018 WaterSense Sustained Excellence Award, the program's highest award,
for the second year in a row. The Water System is a five-time Promotional Partner of the Year as the staff
adapts programs to reach customers through many avenues.
During the last twenty two years, Cobb County has maintained its Triple-Triple “A” credit rating and has
remained financially strong. The Board of Commissioners have continued to aggressively address the current
and future needs of the County by focusing on sound financial management, the reserve policy, the use of
current resources for capital expenditures and the practice of biennial budgeting.
With a growing, diverse population, the challenge is to continue to improve the quality of life by
concentrating on the demands placed on the public infrastructure such as transportation, water supply,
wastewater treatment, the demands of revitalization of many business areas and the demands of greenspace
conservation. Although the nation and surrounding counties are facing financial difficulties, Cobb County
is able to maintain low property tax rates and low debt levels so that we can remain a leader and provide the
best place to live, work and play.
The County continued to maintain a strong financial position during fiscal year 2018 and we expect the trend
to continue in 2019. Tourism revenue increased 12.4% over the prior year. Additionally, the one percent
sales tax (SPLOST) generated $148.7 million in tax revenue which is a $4.4 million increase compared to
FY17. Also, the number of commercial and residential building permits issued increased by 9.5% from the
previous year.
Many factors were taken into consideration when preparing the FY19 budget. The FY19 adopted budget had
a 12.58% increase compared to the FY18 adopted budget. Significant adjustments were made to all categories
with the exception of debt service. Personnel services were largely affected by a budgeted increase in both
the County’s pension contribution and employee health benefits. Operating expenditure budgets increased
approximately $2.9 million largely from an increase in medical and dental services for inmates held at the
County’s Adult Detention Center. The FY19 adopted budget for capital outlays increased $13.6 million
largely from the purchase of additional county vehicles, vehicle equipment, and a police body / in-car camera
system. Transfers-out were mainly affected by an increase of the Transit Fund subsidy. In addition, transfers-
out were impacted by an increased transfer to the Public Facilities Fund for DOT right of way contracts and
a unified court cast management system. The FY19 adopted budget for contingencies increased
approximately $8.7 million for public safety initiatives including, but not limited to, the addition of 23 police
positions.
With the uncertainty of future county revenues during these tough economic times, these proactive steps are
necessary and prudent measures to protect the County’s financial resources while continuing to remain
committed to improving the County’s quality of life.
16
COBB COUNTY GOVERNMENT
Management’s Discussion and Analysis
For the Fiscal Year Ended September 30, 2018
Requests for Information
This financial report is designed to provide a general overview of Cobb County finances for all those with an
interest in the government’s finances. Questions concerning any of the information provided in this report or
request for additional financial information should be addressed to the Director of Finance / Comptroller,
100 Cherokee Street, Suite 400 Marietta, Georgia 30090-9610.
Complete financial statements of the discretely presented component units can be obtained directly from their
administrative offices. The addresses for the administrative offices are as follows: Cobb-Marietta Coliseum
and Exhibit Hall Authority, Two Galleria Parkway Atlanta, Georgia 30339, Cobb County Board of Health,
1650 County Services Parkway Marietta, Georgia 30008.
17
COMPREHENSIVE ANNUAL FINANCIAL REPORT Return to Table of Contents
Cobb County Finance Department, 100 Cherokee Street, Marietta, Georgia 30090
BASIC FINANCIAL STATEMENTS
Activities Activities Total
Assets
Cash and cash equivalents $ 76,228,786 $ 24,644,772 $ 100,873,558 $ 7,783,408
Investments, at fair value - 200,000 200,000 3,060,963
Receivables 266,498,578 25,077,441 291,576,019 436,652
Internal balances (381,629) 381,629 - -
Due from others - 20,861 20,861 -
Due from other governments and agencies 21,547,954 8,979,924 30,527,878 2,211,611
Inventories 1,477,942 1,949,049 3,426,991 114,354
Prepaid items 1,181,022 109,169 1,290,191 -
Advances to others 1,318,809 - 1,318,809
Restricted cash and cash equivalents 142,583,430 53,760,607 196,344,037 -
Restricted investments, at fair value 95,004,044 - 95,004,044 -
Capital assets not being depreciated 1,278,824,103 120,233,769 1,399,057,872 -
Capital assets being depreciated, net 2,788,997,037 1,593,616,443 4,382,613,480 3,056,502
Total assets 4,673,280,076 1,828,973,664 6,502,253,740 16,663,490
Deferred Outflows of Resources
Deferred outflows related to OPEB 26,633,806 2,579,716 29,213,522 2,471,458
Deferred outflows related to pensions 107,952,112 9,604,364 117,556,476 2,454,183
Deferred charges on bond refunding 877,377 - 877,377 -
Total Deferred Outflows of Resources 135,463,295 12,184,080 147,647,375 4,925,641
Total Assets and Deferred Outflows of Resources 4,808,743,371 1,841,157,744 6,649,901,115 21,589,131
Liabilities
Accounts payable 27,342,594 27,639,966 54,982,560 195,073
Accrued payroll 4,990,933 983,476 5,974,409 525,713
Arbitrage liability - 54,882 54,882 -
Due to others 2,081,296 3,627 2,084,923 -
Due to other governments and agencies 8,821,477 12,457 8,833,934 972,809
Claims and judgments 20,780,816 - 20,780,816 -
Customer deposits - 8,872,205 8,872,205 -
Notes payable-current 90,093,194 - 90,093,194 -
Accrued interest payable 6,235,231 1,528,080 7,763,311 -
Unearned revenue 1,758,095 6,351,719 8,109,814 -
Noncurrent liabilities
Due within one year 41,925,969 25,181,241 67,107,210 737,326
Due in more than one year 1,271,492,709 322,422,362 1,593,915,071 27,794,518
Total liabilities 1,475,522,314 393,050,015 1,868,572,329 30,225,439
Deferred Inflows of Resources
Deferred inflows related to OPEB 9,401,292 910,597 10,311,889 1,129,861
Deferred inflows related to pensions 21,201,563 1,886,275 23,087,838 123,216
Deferred gain on refunding 334,669 971,110 1,305,779 -
Total Deferred Inflows of Resources 30,937,524 3,767,982 34,705,506 1,253,077
Total Liabilities and
Deferred Inflows of Resources 1,506,459,838 396,817,997 1,903,277,835 31,478,516
Net Position
Net investment in capital assets 3,597,754,891 1,460,332,315 5,058,087,206 3,056,502
Restricted for:
Renewal and expansion - 43,435,004 43,435,004 -
Debt service 25,313,924 975,707 26,289,631 -
SPLOST projects 168,720,405 - 168,720,405 -
Completion of projects 39,075,302 - 39,075,302 -
Special programs 41,751,337 - 41,751,337 314,806
Unrestricted (570,332,326) (60,403,279) (630,735,605) (13,260,693)
Total Net Position $ 3,302,283,533 $ 1,444,339,747 $ 4,746,623,280 $ (9,889,385)
Cobb County, Georgia
Statement of Net Position
September 30, 2018
Component Unit
Primary Government
Governmental Business-type
Cobb County
Board of
Health
June 30, 2018
See accompanying notes to financial statements.
18
Operating
Charges for Grants and
Functions/Programs Services Contributions
Primary Government
Governmental Activities:
General government $ 165,424,633 $ 49,639,193 $ 9,433,793 $ 15,862 $ (106,335,785) $ - $ (106,335,785) $ -
Public safety 289,469,163 20,618,775 1,767,657 62,409 (267,020,322) - (267,020,322) -
Public works 143,129,556 7,012,300 721,982 44,223,685 (91,171,589) - (91,171,589) -
Health and welfare 7,903,359 403,046 2,602,843 600,939 (4,296,531) - (4,296,531) -
Culture and recreation 78,642,971 21,964,132 1,381,843 4,804,174 (50,492,822) - (50,492,822) -
Housing and development 17,411,304 28,151,082 6,026,542 - 16,766,320 - 16,766,320 -
Interest on long-term debt 20,721,554 - - - (20,721,554) - (20,721,554) -
Total governmental activities 722,702,540 127,788,528 21,934,660 49,707,069 (523,272,283) - (523,272,283) -
Business-type Activities:
Water and Sewer 195,603,970 200,754,371 - 17,991,751 - 23,142,152 23,142,152 -
Solid Waste 736,392 550,942 - - - (185,450) (185,450) -
Transit 27,003,918 4,198,174 - 12,008,311 - (10,797,433) (10,797,433) -
Cobblestone Golf Course 1,694,487 1,687,920 - - - (6,567) (6,567) -
Galleria Specialty Shops 1,004,250 518,232 - - - (486,018) (486,018) -
Performing Arts Centre 10,040,972 9,733,543 - - - (307,429) (307,429) -
Total business-type activities 236,083,989 217,443,182 - 30,000,062 - 11,359,255 11,359,255 -
Total primary government $ 958,786,529 $ 345,231,710 $ 21,934,660 $ 79,707,131 $ (523,272,283) $ 11,359,255 $ (511,913,028) $ -
Component Units
Cobb County Board of Health $ 24,297,022 $ 5,401,626 $ 23,455,802 $ - $ 4,560,406
Total component units $ 24,297,022 $ 5,401,626 $ 23,455,802 $ - $ 4,560,406
General revenues:
Property taxes $ 385,637,151 $ - $ 385,637,151 $ -
Sales taxes 148,725,522 - 148,725,522 -
Insurance premium tax 30,414,232 - 30,414,232 -
Alcoholic beverage tax 5,293,897 - 5,293,897 -
Hotel/Motel tax 16,861,644 - 16,861,644 -
Real estate transfer tax 2,587,475 - 2,587,475 -
Miscellaneous taxes 12,667,600 - 12,667,600 -
Miscellaneous 9,641,936 910,919 10,552,855 -
Gain from sale of capital assets - 144,836 144,836 -
Unrestricted investment earnings 2,712,820 677,371 3,390,191 29,633
Transfers 6,877,775 (6,877,775) - -
Total general revenues and transfers 621,420,052 (5,144,649) 616,275,403 29,633
Change in net position 98,147,769 6,214,606 104,362,375 4,590,039
Net position beginning of year, before restatement 3,391,711,278 1,456,311,854 4,848,023,132 (1,696,634)
Restatement (187,575,514) (18,186,713) (205,762,227) (12,782,790)
Net position beginning of year, after restatement 3,204,135,764 1,438,125,141 4,642,260,905 (14,479,424)
Net position - end of year $ 3,302,283,533 $ 1,444,339,747 $ 4,746,623,280 $ (9,889,385)
Board of
Health
June 30, 2018Expenses Contributions Activities Activities Total
Capital Primary Government
Grants and Governmental Business-type
Program Revenues
Cobb County, Georgia
Statement of Activities
For the Fiscal Year Ended September 30, 2018
Net (Expense) Revenue and Changes in Net Position
Component Unit
Cobb County
See accompanying notes to financial statements.
19
Other Total
General Fire District SPLOST Governmental Governmental
Fund Fund Fund Funds Funds
Assets
Cash and cash equivalents $ 27,303,924 $ 2,706 $ 84,749,276 $ 39,680,623 $ 151,736,529
Restricted cash and cash equivalents - - - 19,398,080 19,398,080
Investments, at fair value - - 95,004,044 - 95,004,044
Receivables:
Taxes and penalties 189,764,859 62,091,949 - 9,120,819 260,977,627
Accrued interest - - 366,226 - 366,226
Other 1,211,653 139,973 161 3,199,772 4,551,559
Due from other funds 608,754 - - 4,415,497 5,024,251
Due from other governments and agencies 1,090,590 - 15,829,334 3,432,331 20,352,255
Advances to others - - - 1,318,809 1,318,809
Advances to other funds 2,981,022 - - - 2,981,022
Inventories 1,411,163 14,122 - 52,657 1,477,942
Prepaid items 8,956 - - 356,250 365,206
Total assets $ 224,380,921 $ 62,248,750 $ 195,949,041 $ 80,974,838 $ 563,553,550
Liabilities
Accounts payable $ 4,751,500 $ 172,823 $ 18,832,888 $ 2,957,972 $ 26,715,183
Accrued payroll 3,485,954 873,785 - 623,311 4,983,050
Due to other funds 7,206,066 3,210,000 - 1,180,836 11,596,902
Due to others 729,849 2,611 - 1,348,836 2,081,296
Due to other governments and agencies 65,345 - 8,395,748 360,384 8,821,477
Notes payable, net 70,072,484 20,020,710 - - 90,093,194
Accrued interest payable 551,250 157,500 - 1,039,781 1,748,531
Matured bonds payable - - - 3,310,000 3,310,000
Unearned revenue 41,933 - - 1,716,162 1,758,095
Total liabilities 86,904,381 24,437,429 27,228,636 12,537,282 151,107,728
Deferred Inflows of Resources
Unavailable revenues 7,360,770 2,160,505 - 322,421 9,843,696
Total Liabilities and Deferred
Inflows of Resources 94,265,151 26,597,934 27,228,636 12,859,703 160,951,424
Fund Balances
Nonspendable:
Inventories and prepaid items 1,420,119 14,122 - 408,907 1,843,148
Advances 2,981,022 - - - 2,981,022
Restricted for:
Debt Service - - - 22,003,924 22,003,924
Construction and capital outlay - 35,636,694 168,720,405 3,424,486 207,781,585
Special programs 1,932,522 - - 39,549,463 41,481,985
Committed for:
Construction and capital outlay - - - 3,553,966 3,553,966
Special programs 13,199,856 - - 1,101,673 14,301,529
Assigned for:
Special programs 1,798,318 - - 1,595 1,799,913
Unassigned 108,783,933 - - (1,928,879) 106,855,054
Total fund balance 130,115,770 35,650,816 168,720,405 68,115,135 402,602,126
Total liabilities, deferred inflows of
resources, and fund balances $ 224,380,921 $ 62,248,750 $ 195,949,041 $ 80,974,838 $ 563,553,550
Cobb County, Georgia
Balance Sheet
Governmental Funds
September 30, 2018
See accompanying notes to financial statements.
20
Total fund balances - governmental funds $ 402,602,126
Amounts reported for governmental activities in the statement of net position
are different because:
Capital assets used in governmental activities are not financial
resources and, therefore, are not reported in the funds 4,067,771,987
Other long-term assets and deferred outflows of resources are not available to
pay for current-period expenditures and, therefore, are either reported
as unavailable or not reported in the funds:
Property tax 9,843,696
Intergovernmental receivable 1,195,699
Unamortized bond insurance costs 86,200
Deferred outflows of resources related to pensions 107,952,112
Deferred outflows of resources related to OPEB 26,633,806
Internal service funds are used by management to charge the cost for claims
to individual funds. The assets and liabilities of the internal service
funds are included in governmental activities in the statement of net position. 37,735,194
Claims and judgments not due and payable in the current period (6,908,699)
Long-term liabilities and deferred inflows of resources are not due and payable
in the current period and therefore are not reported in the funds:
Net pension liability (580,500,491)
Net OPEB liability (197,043,562)
Deferred inflows of resources related to pensions (21,201,563)
Deferred inflows of resources related to OPEB (9,401,292)
Accrued interest payable (4,486,700)
Unmatured bonds (471,875,000)
Unmatured revenue anticipation certificates (5,565,000)
Unamortized deferred charges and deferred loss on refunding 542,708
Unamortized bond premiums (4,515,664)
Unamortized revenue anticipation certificate premium (65,373)
Certificates of participation (7,965,000)
Capital leases payable (13,985,297)
Compensated absences (28,566,354)
Net position of governmental activities $ 3,302,283,533
Cobb County, Georgia
Governmental Funds
Reconciliation of the Governmental Balance Sheet to the Statement of Net Position
September 30, 2018
See accompanying notes to financial statements.
21
Other Total
General Fire District SPLOST Governmental Governmental
Fund Fund Fund Funds Funds
Revenues:
Taxes $ 330,242,874 $ 91,254,144 $ 148,725,522 $ 29,738,466 $ 599,961,006
Licenses and permits 28,512,052 5,100 1,000 600 28,518,752
Intergovernmental 3,495,832 7,311 21,946,042 24,538,941 49,988,126
Charges for services 48,787,501 2,026,562 - 37,898,873 88,712,936
Fines and forfeits 9,731,182 - - - 9,731,182
Contributions - - - 2,304,144 2,304,144
Interest earned 1,174,418 235,142 2,187,094 847,991 4,444,645
Miscellaneous 6,559,736 50,893 465,858 2,565,449 9,641,936
Total revenues 428,503,595 93,579,152 173,325,516 97,894,464 793,302,727
Expenditures:
Current:
General government 140,106,430 - - 9,123,321 149,229,751
Public safety 162,927,296 89,990,176 - 14,789,118 267,706,590
Public works 16,885,518 - - 5,416,272 22,301,790
Health and welfare 4,359,349 - - 3,165,384 7,524,733
Culture and recreation 35,987,413 - - 19,137,432 55,124,845
Housing and development 9,761,834 - - 6,321,705 16,083,539
Capital outlay - - 150,575,655 43,545,474 194,121,129
Debt service:
Principal retirement - - 5,731,302 20,479,793 26,211,095
Interest and fiscal charges 435,480 165,511 234,425 20,992,038 21,827,454
Intergovernmental - - 36,664,971 - 36,664,971
Total expenditures 370,463,320 90,155,687 193,206,353 142,970,537 796,795,897
Excess (deficiency) of revenues
over (under) other expenditures 58,040,275 3,423,465 (19,880,837) (45,076,073) (3,493,170)
Other financing sources (uses):
Transfers in 32,502,226 7,444 3,871,144 58,619,588 95,000,402
Transfers out (50,798,214) (1,636,720) - (34,718,934) (87,153,868)
Proceeds from sale of capital assets 225,946 19,419 - 18,294 263,659
Total other financing sources (uses) (18,070,042) (1,609,857) 3,871,144 23,918,948 8,110,193
Net changes in fund balances 39,970,233 1,813,608 (16,009,693) (21,157,125) 4,617,023
Fund balances at beginning of year 90,145,537 33,837,208 184,730,098 89,272,260 397,985,103
Fund balances at end of year $ 130,115,770 $ 35,650,816 $ 168,720,405 $ 68,115,135 $ 402,602,126
Cobb County, Georgia
Statement of Revenues, Expenditures and Changes in Fund Balance
Governmental Funds
For the Fiscal Year Ended September 30, 2018
See accompanying notes to financial statements.
22
Amounts reported for governmental activities in the statement of activities are
different because:
Net change in fund balances - total governmental funds $ 4,617,023
Governmental funds report capital outlays as expenditures. However, in the
statement of activities the cost of those assets is allocated over their estimated
useful lives and reported as depreciation expense.
Depreciation expense (129,406,099)
Capital outlays 194,769,244 65,363,145
The loss on disposition of capital assets is not reported in the fund statements. (431,859)
The net effect of various miscellaneous transactions involving capital assets
(donations) is to increase net position. 19,688,069
The net effect of revenues in the statement of activities that do not provide current financial
resources are not reported as revenues in the funds.
Property tax 2,226,515
Intergovernmental revenues (459,972) 1,766,543
Debt proceeds provide current financial resources to governmental funds, but issuing
debt increases long-term liabilities in the statement of net position. Repayment of debt
principal and bond costs are expenditures in the governmental funds, but the repayment
reduces long-term liabilities and bond costs are capitalized in the statement of net position:
Matured principal on bonds 19,760,000
Capital lease principal payments 5,746,095
Revenue anticipation certificates payments 255,000
Certificates of participation payments 450,000 26,211,095
Some expenses reported in the statement of activities do not require the use of current
financial resources and, therefore, are not reported as expenditures in the governmental
funds:
Net pension liability and changes in related deferred inflows/outflows of resources (21,409,189)
Net OPEB liability and changes in related deferred inflows/outflows of resources (1,239,738)
Accrued compensated absences (1,943,979)
Amortization for bond deferred amounts and premiums 817,599
Amortization of bond insurance costs (9,600)
Accrued interest expense 288,301 (23,496,606)
Internal service funds are used by management to charge the cost of claims
to individual funds. This amount is the net activity of the claims internal service 4,430,359
fund.
Changes in net position of governmental activities. $ 98,147,769
For the Fiscal Year Ended September 30, 2018
Cobb County, Georgia
Governmental Funds
Reconciliation of the Statement of Revenues, Expenditures and
Changes in Fund Balances of Governmental Funds to the Statement of Activities
See accompanying notes to financial statements.
23
Cobb County, Georgia
Proprietary Funds
Statement of Net Position
September 30, 2018
Other
Water and Enterprise
Sewer Fund Funds
Assets and Deferred Outflows of Resources
Current assets:
Cash $ 22,625,550 $ 2,019,222 $ 24,644,772 $ 47,677,607
Restricted cash and cash equivalents 50,618,000 3,142,607 53,760,607 -
Investments, at fair value 200,000 - 200,000 -
Receivables:
Accounts, net 22,723,831 206,531 22,930,362 -
Accrued interest 41 - 41 -
Other 2,048,373 98,665 2,147,038 603,166
Due from other funds - 3,500,014 3,500,014 3,210,000
Due from component unit - 20,861 20,861 -
Due from other governments and agencies 12,223 8,967,701 8,979,924 -
Inventories 1,919,138 29,911 1,949,049 -
Prepaid items 1,169 108,000 109,169 729,616
Total current assets 100,148,325 18,093,512 118,241,837 52,220,389
Noncurrent assets:
Property, plant and equipment:
Capital assets not being depreciated 96,965,255 23,268,514 120,233,769 -
Capital assets being depreciated, net 1,459,135,546 134,480,897 1,593,616,443 49,153
Net property, plant and equipment 1,556,100,801 157,749,411 1,713,850,212 49,153
Total noncurrent assets 1,556,100,801 157,749,411 1,713,850,212 49,153
Total assets 1,656,249,126 175,842,923 1,832,092,049 52,269,542
Deferred outflows of resources:
Deferred outflows of resources related to OPEB 2,509,854 69,862 2,579,716 -
Deferred outflows of resources related to pension 9,310,473 293,891 9,604,364 -
Total deferred outflows of resources 11,820,327 363,753 12,184,080 -
Total assets and deferred outflows of resources $ 1,668,069,453 $ 176,206,676 $ 1,844,276,129 $ 52,269,542
Continued on next page.
Total Fund
Business-type Activities - Enterprise Funds Governmental
Activities -
Internal Service
See accompanying notes to financial statements.
24
Cobb County, Georgia
Proprietary Funds
Statement of Net Position
Other
Water and Enterprise
Sewer Fund Funds
Liabilities and Deferred Inflows of Resources
Liabilities:
Current liabilities (payable from current assets):
Accounts payable $ 14,737,408 $ 12,902,558 $ 27,639,966 $ 627,411
Accrued payroll 377,545 605,931 983,476 7,883
Arbitrage liability 54,882 - 54,882 -
Due to other funds - 137,363 137,363 -
Due to others 1,943 1,684 3,627 -
Customer deposits 6,789,833 2,082,372 8,872,205 -
Due to other governments and agencies - 12,457 12,457 -
Accrued interest payable 1,443,552 84,528 1,528,080 -
Unearned revenues - 1,151,719 1,151,719 -
Current portion of revenue bonds 13,150,000 555,000 13,705,000 -
Current portion of note payable 9,583,749 - 9,583,749 -
Current portion of compensated absences 1,358,876 90,313 1,449,189 23,511
Current portion of closure and post closure care - 443,303 443,303 -
Estimated liability for claims and judgments - - - 13,872,117
Total current liabilities 47,497,788 18,067,228 65,565,016 14,530,922
Long-term liabilities:
Revenue bonds (net of current portion and
bond premium) 112,671,488 5,315,000 117,986,488 -
Notes payable (net of current portion) 110,784,949 - 110,784,949 -
Compensated absences (net of current portion) 424,103 46,364 470,467 3,426
Closure and post closure care (net of current portion) - 22,431,543 22,431,543 -
Unearned revenue (net of current portion) - 5,200,000 5,200,000 -
Net OPEB liability 18,568,531 516,855 19,085,386 -
Net pension liability 50,082,638 1,580,891 51,663,529 -
Advances from other funds - 2,981,022 2,981,022 -
Total long-term liabilities 292,531,709 38,071,675 330,603,384 3,426
Total liabilities 340,029,497 56,138,903 396,168,400 14,534,348
Deferred inflows of resources:
Deferred inflow related to OPEB 885,937 24,660 910,597 -
Deferred inflow related to pension 1,828,556 57,719 1,886,275 -
Deferred gain on refunding 971,110 - 971,110 -
Total deferred inflows of resources 3,685,603 82,379 3,767,982 -
Total liabilities and deferred inflows of resources 343,715,100 56,221,282 399,936,382 14,534,348
Net Position
Net investment in capital assets 1,308,471,745 151,860,570 1,460,332,315 49,153
Restricted for:
Capital projects 43,435,004 - 43,435,004 -
Debt service - 975,707 975,707 -
Unrestricted (27,552,396) (32,850,883) (60,403,279) 37,686,041
Total net position $ 1,324,354,353 $ 119,985,394 $ 1,444,339,747 $ 37,735,194
Continued from preceding page.
September 30, 2018
Total Fund
Business-type Activities - Enterprise Funds Governmental
Activities -
Internal Service
See accompanying notes to financial statements.
25
Operating revenues:
Charges for services $ 200,754,371 $ 16,688,811 $ 217,443,182 $ 75,400,780
Miscellaneous income 838,688 72,231 910,919 -
Total operating revenues 201,593,059 16,761,042 218,354,101 75,400,780
Operating expenses:
Personnel services 32,235,494 4,367,120 36,602,614 592,201
Other operating expenses 104,717,809 28,239,595 132,957,404 9,600,512
Benefits and claims - - - 60,244,390
Total operating expenses 136,953,303 32,606,715 169,560,018 70,437,103
Operating income (loss)
before depreciation 64,639,756 (15,845,673) 48,794,083 4,963,677
Less depreciation (54,419,095) (7,702,248) (62,121,343) (19,858)
Operating income (loss) 10,220,661 (23,547,921) (13,327,260) 4,943,819
Nonoperating revenues (expenses):
Interest income 644,241 33,130 677,371 455,299
Interest and fiscal charges (4,872,294) (171,056) (5,043,350) -
Amortization 640,722 - 640,722 -
Gain (loss) on sale of capital assets 140,396 4,440 144,836 -
Total nonoperating revenues (expenses) (3,446,935) (133,486) (3,580,421) 455,299
Net income (loss) before transfers
and capital contributions 6,773,726 (23,681,407) (16,907,681) 5,399,118
Capital contributions 17,991,751 12,008,311 30,000,062 -
Total capital contributions 17,991,751 12,008,311 30,000,062 -
Transfers:
Transfers in 80,518 15,538,581 15,619,099 3,369
Transfers out (21,845,936) (650,938) (22,496,874) (972,128)
Total transfers (21,765,418) 14,887,643 (6,877,775) (968,759)
Changes in net position 3,000,059 3,214,547 6,214,606 4,430,359
Total net position - beginning, before restatement 1,339,072,606 117,239,248 1,456,311,854 33,304,835
Restatement (17,718,312) (468,401) (18,186,713) -
Total net position - beginning, after restatement 1,321,354,294 116,770,847 1,438,125,141 33,304,835
Total net position - ending $ 1,324,354,353 $ 119,985,394 $ 1,444,339,747 $ 37,735,194
Internal ServiceWater and
Sewer Fund
Other
Enterprise
Funds Total Fund
Business-type Activities - Enterprise Funds Governmental
Activities -
Cobb County, Georgia
Proprietary Funds
Statement of Revenues, Expenses and Changes in Fund Net Position
For the Fiscal Year Ended September 30, 2018
See accompanying notes to financial statements.
26
Cash flows from (to) operating activities:
Cash received from customers $ 200,991,091 $ 16,515,556 $ 217,506,647 $ 91,141,032
Cash payments for goods and services (102,729,640) (20,939,410) (123,669,050) (9,591,735)
Cash payments for employee services
and fringe benefits (30,922,281) (4,119,335) (35,041,616) (585,214)
Cash payments for benefits and claims - - - (60,397,341)
Net cash from (to) operating activities 67,339,170 (8,543,189) 58,795,981 20,566,742
Cash flows from (to) noncapital financing activities:
Transfers in 80,518 15,538,581 15,619,099 3,369
Transfers out (21,845,936) (650,938) (22,496,874) (972,128)
Net cash from (to) noncapital
financing activities (21,765,418) 14,887,643 (6,877,775) (968,759)
Cash flows from (to) capital and
related financing activities:
Proceeds from sale of capital assets 140,396 4,440 144,836 -
Payments for capital acquisitions (30,088,376) (11,609,933) (41,698,309) -
Bond principal payments (12,725,000) (535,000) (13,260,000) -
Capital contributions 9,930,488 7,062,492 16,992,980 -
Payments on notes (9,314,257) - (9,314,257) -
Interest and fiscal charges (8,492,376) (178,760) (8,671,136) -
Net cash from (to) capital and related
financing activities (50,549,125) (5,256,761) (55,805,886) -
Cash flows from investing activities:
Interest received 644,241 33,130 677,371 455,299
Net cash from investing activities 644,241 33,130 677,371 455,299
Net increase (decrease) in cash and
cash equivalents (4,331,132) 1,120,823 (3,210,309) 20,053,282
Cash and cash equivalents at beginning of year 77,574,682 4,041,006 81,615,688 27,624,325
Cash and cash equivalents at end of year $ 73,243,550 $ 5,161,829 $ 78,405,379 $ 47,677,607
Reconciliation to Statement of Net Position
Cash $ 22,625,550 $ 2,019,222 $ 24,644,772 $ 47,677,607
Cash (included in restricted assets) 50,618,000 3,142,607 53,760,607 -
$ 73,243,550 $ 5,161,829 $ 78,405,379 $ 47,677,607
Continued on next page.
Cobb County, Georgia
Proprietary Funds
Statement of Cash Flows
For the Fiscal Year Ended September 30, 2018
EnterpriseWater and
GovernmentalBusiness-type Activities - Enterprise Funds
Internal Service
Other Activities -
TotalSewer Fund Funds Fund
See accompanying notes to financial statements.
27
Business-type Activities - Enterprise Funds
Other
Total
Reconciliation of operating income (loss)
to net cash from operating activities:
Operating income (loss) $ 10,220,661 $ (23,547,921) $ (13,327,260) $ 4,943,819
Adjustments to reconcile operating income
(loss) to net cash from operating activities:
Depreciation 54,419,095 7,702,248 62,121,343 19,858
Change in assets and liabilities:
Decrease (increase) in accounts receivables (1,125,865) (132,653) (1,258,518) -
Decrease (increase) in accrued interest receivables (41) - (41) -
Decrease (increase) in other receivables 450,860 (33,862) 416,998 (89,762)
Decrease (increase) in due from other funds - (700,014) (700,014) 15,830,014
Decrease (increase) in due from other governments (12,223) - (12,223) -
Decrease (increase) in due from component unit - 6,128 6,128 -
Decrease (increase) in inventories (144,568) 4,392 (140,176) -
Decrease (increase) in deferred outflows related to OPEB (2,509,854) (69,862) (2,579,716)
Decrease (increase) in deferred outflows related to pension (6,332,033) (197,693) (6,529,726) -
Decrease (increase) in prepaid items 85 (43,678) (43,593) (81,171)
Increase (decrease) in accounts payable 2,139,852 8,806,298 10,946,150 89,948
Increase (decrease) in accrued payroll (6,227) 249,521 243,294 326
Increase (decrease) in accrued compensated absences 81,783 (9,982) 71,801 6,661
Increase (decrease) in due to other funds - (338,748) (338,748) -
Increase (decrease) in due to others - 38,893 38,893 -
Increase (decrease) in deposits payable 85,301 716,816 802,117 -
Increase (decrease) in due to
other governments (7,200) (29,783) (36,983) -
Increase (decrease) in estimated liability
for claims and judgments - - - (152,951)
Increase (decrease) in closure/postclosure care - (443,303) (443,303) -
Increase (decrease) in deferred inflows related to OPEB 885,937 24,660 910,597
Increase (decrease) in deferred inflows related to pension 614,716 18,514 633,230 -
Increase (decrease) in unearned revenues - (795,787) (795,787) -
Increase (decrease) in net OPEB liability 1,740,745 48,452 1,789,197
Increase (decrease) in net pension liability 6,838,146 184,175 7,022,321 -
Total adjustments 57,118,509 15,004,732 72,123,241 15,622,923
Net cash provided (used) by operating activities $ 67,339,170 $ (8,543,189) $ 58,795,981 $ 20,566,742
Schedule of noncash capital and related financing activities:
Contribution of capital assets $ 8,061,263 $ - $ 8,061,263 $ -
Total noncash capital and related financing activities $ 8,061,263 $ - $ 8,061,263 $ -
Supplemental disclosure of cashflow information:
Interest capitalized $ (3,518,053) - (3,518,053) -
Continued from preceding page.
Sewer Fund Funds
Water and Enterprise
Fund
For the Fiscal Year Ended September 30, 2018
Governmental
Statement of Cash Flows
Internal Service
Cobb County, Georgia
Activities -
Proprietary Funds
See accompanying notes to financial statements.
28
Trust Funds
Assets:
Cash and cash equivalents $ 228,569 $ 82,333,121
Investments, at fair value
Common stock 234,190,496 -
Mutual funds 462,838,503 -
Corporate Bonds 68,278,703 -
Government and agency bonds 18,399,681 -
Money market 13,952,359
Receivables
Taxes and penalties - 633,492,023
Accrued interest 909,733 -
-
Total assets 798,798,044 $ 715,825,144
Liabilities:
Unremitted tax collections due
to other governments and agencies - $ 44,689,355
Taxes payable to others upon
collection - 633,492,023
Unremitted payroll tax and
withholdings - 6,309,691
Funds held in trust for others - 31,334,075
Total liabilities - $ 715,825,144
Net position restricted for:
Pension benefits 672,787,107
Other post employment benefits 126,010,937
Total net position $ 798,798,044
Cobb County, Georgia
Fiduciary Funds
Statement of Fiduciary Net Position
September 30, 2018
Agency Funds
See accompanying notes to financial statements.
29
Trust Funds
Additions
Contributions:
Employer $ 67,095,829
Employee 13,941,429
Total contributions 81,037,258
Investment earnings:
Net appreciation (depreciation) in fair value of assets 53,291,521
Interest 14,136,351
Total investment earnings 67,427,872
Less investment expense (1,772,348)
Net investment earnings 65,655,524
Miscellaneous revenue 22,161
Total additions 146,714,943
Deductions
Administrative expenses 374,074
Benefits and claims 83,448,316
Total deductions 83,822,390
Change in net position 62,892,553
Net position
Beginning of year 735,905,491
End of year $ 798,798,044
Statement of Changes in Fiduciary Net Position
For the Fiscal Year Ended September 30, 2018
Cobb County, Georgia
Fiduciary Funds
See accompanying notes to financial statements.
30
COBB COUNTY, GEORGIA INDEX TO NOTES TO FINANCIAL STATEMENTS
September 30, 2018
Note Page Note Title Number Number
Arbitrage Liability 19 76
Budgetary Information 2 40-41
Capital Assets 5 46-47
Capital Contributions 20 76
Cash and Cash Equivalents and Investments 3 41-44
Closure and Postclosure Care Costs 21 76-77
Contingent Liabilities 14 63
Deferred Compensation Plan 15 63
Due From Other Governments and Agencies 16 64-65
Employee Retirement System 18 70-76
Fund Balance Determinations and Classifications 10 57-60
Hotel/Motel Lodging Tax 22 77
Interfund Balances and Transfers 13 62-63
Joint Venture 24 77-78
Leases 7 48-49
Long-Term Debt 9 50-57
Other Commitments 23 77
Other Post Employment Benefits 17 65-70
Property Taxes 11 60
Related Organization 25 78
Restricted Assets 4 45
Restatement 26 78
Risk Management 6 48
Short-Term Tax Anticipation Notes 8 49-50
Subsequent Events 27 78
Summary of Significant Accounting Policies 1 31-39
Tax Abatements 12 61
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
0Note 1. Summary of Significant Accounting Policies
The financial statements of Cobb County, Georgia have been prepared in conformity with generally accepted
accounting principles (GAAP) as applied to government units. The Governmental Accounting Standards Board
(GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting
principles. The more significant of the government’s accounting policies are described below.
A. Reporting Entity
The financial statements of the reporting entity include those of Cobb County, Georgia (the primary
government) and its component units. Blended component units are, in substance, part of the County’s
operations, even though they are legally separate entities. Thus, blended component units are appropriately
presented as funds of the primary government. The discretely presented component units are reported in
separate columns in the government-wide statements to emphasize they are legally separate from the
primary government.
1. Blended component units
The Cobb-Marietta Coliseum and Exhibit Hall Authority is a corporate and political body created and
existing under the laws of the State of Georgia. The Authority was established for the general purpose of
developing and promoting cultural growth, public welfare, education and recreation. The Authority operates
and maintains a multi-use exhibit hall and convention facility, a performing arts center, and a specialty mall
in Cobb County. The majority of the Authority’s board members are appointed, either directly or indirectly,
by the Cobb County Board of Commissioners. The Authority’s debt is expected to be paid almost entirely
with resources of the County. The Authority is prohibited from issuing bonded debt without the approval of
the Board of Commissioners. The fiscal year of the Authority is September 30th. Complete financial
statements of the Authority can be obtained directly from their administrative offices at Cobb-Marietta
Coliseum and Exhibit Hall Authority, Two Galleria Parkway, Atlanta, Georgia 30339.
The South Cobb Redevelopment Authority’s (SCRA) purpose is to revitalize and redevelop areas that have
been underinvested or underutilized in the past. The overall intent is to promote and create favorable
location for trade, commerce, industry, and employment opportunities. The SCRA has the authority to issue
bonds to assist in financing infrastructure improvements that will foster economic growth and vitality in
South Cobb. The SCRA Board consists of seven members, four of which are appointed by the Cobb County
Board of Commissioners and each member serves a four year term. The Authority’s debt is expected to be
paid almost entirely with resources of the County. The fiscal year of the Authority is September 30th.
2. Discretely presented component units
The Cobb County Board of Health was created by a state legislative act. During the fiscal year ended June
30, 2018, it operated under an eight member board and a full-time executive director. The Board of Health
was established to provide various health related programs such as immunization, family planning, dental
treatment, and nutrition services. The members of the Board of Health are jointly appointed by the County
Commissioners, one municipality and two school districts. The Board of Health’s operational budget must
be approved by the Board of Commissioners. The information presented for the Cobb County Board of
Health is as of and for the year ended June 30, 2018. Complete financial statements of the Board of Health
can be obtained directly from their administrative offices at Cobb County Board of Health, 1650 County
Services Parkway, Marietta, Georgia 30008.
31
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 1. Summary of Significant Accounting Policies (Continued)
B. Government-Wide Statements and Fund Financial Statements
The government-wide financial statements (i.e., the statement of net position and the statement of activities)
report information on all the nonfiduciary activities of the primary government and its component units. As
a general rule, the effect of interfund activity has been eliminated from the government-wide financial
statements. Exceptions to this general rule are charges between the government’s water functions and
various other functions of the government. Elimination of these charges would distort the direct costs and
program revenues reported for the various functions concerned. Governmental activities, which normally are
supported by taxes and intergovernmental revenues, are reported separately from business-type activities,
which rely to a significant extent on fees and charges for support. Likewise, the primary government is
reported separately from certain legally separate component units for which the primary government is
financially accountable.
In the government-wide Statement of Net Position, both the governmental and business-type activities
columns are presented on a consolidated basis by column, and are reflected on a full accrual, economic
resource basis which recognizes all long-term assets and receivables as well as long-term debt and
obligations. The County’s net position is reported in three parts – net investment in capital assets; restricted
net position; and unrestricted net position.
The government-wide Statement of Activities reports both the gross and net cost of each of the County’s
functions and business-type activities. The functions are also supported by general governmental revenues
which include taxes, interest revenue and other items not properly included among program revenues. The
Statement of Activities reduces gross expenses (including depreciation) by related program revenues,
operating and capital grants. Program revenues include charges to customers for goods, services or
privileges provided, operating grants and contributions, and capital grants and contributions. Program
revenues must be directly associated with the function or business-type activity. Operating grants include
operating-specific and discretionary grants while the capital grants reflect capital-specific grants. The net
cost (by function or business-type activity) is normally covered by general revenue.
Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds,
even though the latter are excluded from the government-wide financial statements. Major individual
governmental funds and major individual enterprise funds are reported as separate columns in the fund
financial statements.
C. Measurement focus, basis of accounting, and financial statement presentation
The measurement focus describes the type of transactions and events that are reported in a fund’s operating
statement. Basis of accounting refers to the point at which revenues or expenditures/expenses are recognized
in the accounts and reported in the financial statements. It relates to the timing of the measurements made,
regardless of the measurement focus applied.
The government-wide financial statements are reported using the economic resources measurement focus
and the accrual basis of accounting, as are the proprietary and fiduciary funds financial statements. The
agency funds financial statements are reported using no measurement focus.
Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are
recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.
32
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 1. Summary of Significant Accounting Policies (Continued)
The emphasis in fund financial statements is on major funds in either the governmental or business-type
activity categories. Nonmajor funds by category are summarized into a single column. GASB Statement No.
34 sets forth minimum criteria (percentage of assets and deferred outflows of resources, liabilities and
deferred inflows of resources, revenues or expenditures/expenses of either fund category or the
governmental and enterprise categories combined) for the determination of major funds. County
management may electively add funds as major funds, when it is determined the funds have specific
community or management focus.
The focus of the governmental funds’ measurement in the funds’ statement is upon determination of
financial position and changes in financial positions (sources, uses, and balances of financial resources)
rather than upon net income. Governmental funds financial statements are reported using the current
financial resources measurement focus and the modified accrual basis of accounting. Revenues are
recognized as soon as they are both measurable and available. Revenues are considered available when they
are collectible within the current period or soon enough thereafter to pay liabilities of the current period. The
County considers all revenue except intergovernmental revenue as available if it is collected within 60 days
after year-end. Intergovernmental revenue is considered available if it is collected within 9 months after year
end. Expenditures are recorded when the related fund liability is incurred. Principal and interest on general
long-term debt are recorded as fund liabilities when due or when amounts have been accumulated in the
debt service fund for payments to be made within thirty days subsequent to year end.
Those revenues susceptible to accrual are property taxes, sales taxes, licenses, interest revenue and charges
for services. Sales taxes collected and held by the state at year-end on behalf of the government also are
recognized as revenue. Fines are not susceptible to accrual because generally they are not measurable until
received in cash.
The County uses the following major funds:
1. Major Funds:
A. Governmental Funds: 1. The General Fund is the government’s primary operating fund. It accounts for all financial
resources of the general government, except those required to be accounted for in another fund.
2. The Fire District Fund is used to account for monies received from a specific property tax
levy and the operation of the fire department within the County.
3. The SPLOST Fund is used to account for the proceeds of a 1 percent local option sales tax for
various capital projects throughout the County. 1B1B1B
B. Business-type Funds:
The Water and Sewer Fund accounts for the operating revenues and expenses of the water
distribution system and sewage processing plants.
2. Internal Service Fund:
The Claims Internal Service Fund provides self-funding for casualty, liability, medical and
dental claims and workmen’s compensation.
33
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 1. Summary of Significant Accounting Policies (Continued)
3. Fiduciary Fund Types:
A. Agency Funds account for Clerk of State Court, Clerk of Juvenile Court, Sheriff, Clerk of Superior Court, Clerk of Probate Court, Tax Commissioner, Accounts Payable Fund, Payroll
Fund, and Child Support, Witness and Juror’s Fees are accounted for on the accrual basis of
accounting and are used for assets held by the government as an agent for individuals, private
organizations, and other governments.
B. The Pension and OPEB Trust Funds are used to account for activities related to the public employees’ retirement system and other post-employment benefits in a defined benefit plan.
The County maintains Employee Retirement System Trust Funds that accounts for the
accumulation of resources for pension and OPEB benefit payments to eligible employees.
The focus for proprietary fund measurement is upon determination of operating income, changes in net
position, financial position and cash flow. Proprietary funds distinguish operating revenues and
expenses from nonoperating items. Operating revenues and expenses generally result from providing
services and producing and delivering goods in connection with a proprietary fund’s principal ongoing
operations. Operating expenses for the enterprise funds and the internal service fund include the cost of
sales and services, administrative expenses, and depreciation of capital assets. All revenues and
expenses not meeting this definition are reported as nonoperating revenues and expenses. The generally
accepted accounting principles applicable are those similar to business in the private sector.
The County’s Internal Service Fund is presented in the proprietary funds financial statements. Because
principal users of internal services are the County’s governmental activities, the financial statement of
the Internal Service Funds are consolidated into the Governmental column when presented in the
government-wide financial statements. To the extent possible, the costs of these services are reported in
the appropriate functional activity.
The County’s fiduciary funds are presented in the fiduciary fund financial statements by type. Since by
definition, these assets are held for the benefit of a third party and cannot be used to address activities or
obligations of the County, these funds are not incorporated into the government-wide statements.
When both restricted and unrestricted resources are available for use, it is the County’s policy to use
restricted resources first and then unrestricted resources as available.
D. Budgets
Budgets are adopted on a basis consistent with generally accepted accounting principles except
encumbrances are treated as budgeted expenditures in the year of the incurrence of the commitment to
purchase. Accordingly, encumbrances are included as budgetary expenses in two different years. Annual
appropriated budgets are adopted for the General Fund, the CMCEHA Debt Service Fund, the BOC Debt
Service Fund, and all the Special Revenue Funds except project-length budgets are adopted for the Grant
Fund and the Housing and Urban Development Grant Fund. Project-length financial plans are adopted for
the Capital Projects Funds. All encumbered appropriations are carried forward in the following year’s
budget.
34
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 1. Summary of Significant Accounting Policies (Continued)
Encumbrances represent commitments related to unperformed contracts for goods or services. Encumbrance
accounting – under which purchase orders, contracts and other commitments for the expenditure of
resources are recorded to reserve that portion of the applicable appropriation – is utilized in the
governmental funds. Encumbrances outstanding at year-end do not constitute expenditures or liabilities
because the commitments will be honored during the subsequent year. See Note 23 for additional
information about encumbrances.
E. Cash and Cash Equivalents and Investments
For purposes of the statement of cash flows, the proprietary fund type considers all highly liquid
investments with a remaining maturity of three months or less when purchased to be cash equivalents.
Cash includes amounts in demand deposits, certificates of deposit, and money market accounts. Statutes
authorize the County to invest in U.S. Government obligations, U.S. Government agency obligations, State
of Georgia obligations of other counties, municipal corporations and political subdivisions of the State of
Georgia which are rated “AA” or better by Moody’s Investors Service, Inc., negotiable certificates of
deposit issued by any bank or trust company organized under the laws of any state of the United States of
America or any national banking association, repurchase agreements when collateralized by U.S.
Government or agency obligations, and pooled investment programs sponsored by the State of Georgia for
the investment of local government funds. The Pension Trust Fund is also authorized to invest in corporate
bonds, domestic common stocks, equity real estate, and international common stocks through pooled
investment accounts.
The County’s investment policy is to apply the “prudent person" standard and shall be applied in the context
of managing an overall portfolio. The "prudent person" standard is herewith understood to mean the
following: "Investments shall be made with judgment and care, under circumstances then prevailing, which
persons of prudence, discretion and intelligence exercise in the management of their own affairs, not for
speculation, but for investment, considering the probable safety of their capital as well as the probable
income to be derived."
It is also the policy of Cobb County to purchase securities only from those broker/dealers and banks that are
included on the County's bid list as approved by the Finance Director-Comptroller. The approved list will
be developed in accordance with these Investment Policies.
Funds of Cobb County will be invested in compliance with the provisions of Georgia Code Section 36-83-4
and in accordance with these policies and written administrative procedures. Certain funds have outstanding
bond issues which have specific investment policies contained within the bond ordinances and official
statements. Those policies will be adhered to and are not in conflict with the terms of the investment policy. 3B3B3B
In accordance with GASB 31, investments are stated at fair value. Fair value of the external investment
pool, Georgia Fund 1, is equal to the value of the pool shares. See Note 3 for additional information
regarding cash and investments.
35
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 1. Summary of Significant Accounting Policies (Continued)
F. Restricted Assets
Certain proceeds of the County’s governmental and business-type revenue bonds, as well as certain
resources set aside for their repayment, are classified as restricted assets because they are maintained in
separate accounts and their use is limited by applicable bonds covenants.
The assets in the County’s Fire District and SPLOST funds includes cash restricted for construction. The
assets in the nonmajor special revenue funds include cash restricted for the purposes of the fund and for
asset renewals and replacements. The SCRA Construction Fund’s cash is restricted for construction and
redevelopment in the Six Flags Special Purpose District. The restricted assets in the County’s Parks Bond
Land Acquisition and Stadium Construction capital project funds are restricted for construction. The
CMCEHA Stadium Construction Fund’s cash is bond proceeds held in a separate account until monies are
spent according to bond covenants. The CMCEHA Debt Service Fund’s and the BOC Debt Service Fund’s
cash is restricted for future debt service requirements.
The County’s restricted assets in the Water and Sewer Enterprise Fund includes cash and customer deposits
which are held in a separate account until monies are spent according to the bond covenants. Deposits from
event ticket sales and monies for debt service are restricted cash in the Performing Arts Centre and are
remitted to the promoter or performers upon settlement following the event. The Galleria Specialty Shops
Fund’s restricted assets are security deposits from shop tenants and are returned to the tenants upon
termination of their lease.
See Note 4 for additional information regarding restricted assets.
G. Interfund Receivables/Payables
Activities between funds that are representative of lending/borrowing arrangements outstanding at the end
of the fiscal year are referred to as either “due to/from other funds” (i.e., the current portion of interfund
loans) or “advances to/from other funds” (i.e., non-current portion of interfund loans). All other outstanding
balances between funds are reported as “due to/from other funds.” Advances between funds, as reported in
the fund financial statements, are offset by a fund balance reserve account in the applicable governmental
fund to indicate that they are not available for appropriation and are not expendable available financial
resources. Any residual balances outstanding between the governmental activities and business-type
activities are reported in the government-wide financial statements as “internal balances.”
H. Inventories
Inventories are valued at cost in the Governmental Fund types and at the lower of cost (first-in, first-out) or
market in the Proprietary Fund types. Inventories in the Governmental funds and Enterprise funds consist of
expendable supplies held for consumption and items needed for repairs or improvements to the utility
system.
The cost is recorded as an asset at the time the individual items are purchased. Reported inventories in the
Governmental funds are equally offset by a fund balance reserve, which indicates that they do not constitute
“available spendable resources” even though they are a component of net current assets. The consumption
method is used to account for inventories within the County’s governmental and proprietary fund types.
36
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 1. Summary of Significant Accounting Policies (Continued)
I. Prepaid Items
Payments made to vendors for services that will benefit periods beyond September 30, 2018 are recorded as
prepaid items in both the government-wide and fund financial statements. The cost of prepaid items is
recorded as expenditures/expenses when consumed rather than when purchased.
J. Capital Assets
Capital assets, which include property, plant, equipment and infrastructure assets (e.g., roads, bridges,
sidewalks, and similar items), are reported in the applicable governmental or business-type activities
columns in the government-wide financial statements. Capital assets are defined by the government as assets
with an initial, individual cost of more than $5,000 and an estimated useful life in excess of two years. Such
assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital
assets are recorded at acquisition value at the date of donation. 4B 4B4B
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend
asset lives are not capitalized. Improvements are capitalized and depreciated over the remaining useful lives.
Interest incurred during the construction phase of capital assets of business-type activities is included as part
of the capitalized value of the assets constructed. The County has fully implemented the retroactive
reporting of infrastructure.
Capital assets of the primary government, as well as the component unit, are depreciated using the straight
line method over the following useful lives:
UAssets UYears
Buildings and structures 25 – 50
Improvements other than buildings 20
Machinery and equipment 4 – 10
Sewerage Plants 10 – 50
Infrastructure 10 – 50
K. Compensated Absences
All vacation pay is accrued when incurred in the government-wide and proprietary fund financial
statements. A liability for these amounts is reported in the governmental funds only if they have matured,
for example, as a result of employee resignations and retirements.
Accumulated sick pay benefits have not been recorded as a liability because the payment of the benefits is
contingent upon the future illness of an employee. It is not expected that any unrecorded sick pay benefits
will exceed a normal year’s accumulation.
In accordance with the provisions of Statement of Financial Accounting Standards No. 16, “Accounting for
Compensated Absences,” no liability is recorded for nonvesting accumulating rights to receive sick pay
bonuses.
37
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 1. Summary of Significant Accounting Policies (Continued)
L. Long-term Obligations
In the government-wide financial statements and proprietary fund types in the fund financial statements,
long-term debt and other long-term obligations are reported as liabilities in the applicable governmental
activities, business-type activities, or proprietary fund type Statement of Net Position. Bond premiums and
discounts are deferred and amortized over the life of the bonds. Bonds payable are reported net of applicable
bond premiums or discounts. Bond issuance costs are recognized as an outflow of resources in the reporting
period in which they are incurred.
Debt refunding gains and losses are reported as deferred inflows or outflows of resources on the statements
of net position. These gains and losses are deferred and amortized over the shorter of the life of the
refunding debt (new debt) and the refunded debt (the old debt).
In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well
as bond issuance costs, during the current period. The face amount of debt issued is reported as other
financing sources. Premiums received on debt issuances are reported as other financing sources while
discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld
from the actual debt proceeds received, are reported as debt service expenditures.
M. Categories and Classifications of Fund Balance
The County implemented GASB 54 during fiscal year 2010 [34B32BNote 10. Fund Balance Determinations and
Classifications]. This statement establishes fund balance classifications that comprise a hierarchy based
primarily on the extent to which the County is bound to honor constraints imposed upon the use of the
resources reported in governmental funds. Fund balance classifications, under GASB 54, are Nonspendable,
Restricted, Committed, Assigned, and Unassigned.
N. Interfund Transactions
All interfund services provided and used are reported as transfers.
O. Contributed Capital and Capital Contributions – Proprietary Funds
Grants, entitlements and shared revenues restricted for the acquisition or construction of capital assets were
recorded as contributed capital prior to the implementation of GASB 33, Accounting and Financial
Reporting for Nonexchange Transactions. As required by GASB 33, the County has recognized capital
contributions as revenue rather than as contributed capital.
38
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 1. Summary of Significant Accounting Policies (Continued)
P. Net Position
The net position represents the difference between assets and deferred outflows of resources and liabilities
and deferred inflows of resources. The net position component, net investment in capital assets, consists of
capital assets, net of accumulated depreciation, reduced by the outstanding balances of any borrowing used
(i.e., the amount that the County has not spent) for the acquisition, construction or improvement of those
assets. The net position is reported as restricted when there are limitations imposed by creditors, grantors,
contributors or laws or regulations of other governments. The balance of the net position is reported as
unrestricted.
Q. Deferred Outflows/Inflows of Resources
In addition to assets, the statement of net position will sometimes report a separate section for deferred
outflows of resources. This separate financial statement element, deferred outflows of resources, represents
a consumption of net position that applies to a future period(s) and so will not be recognized as an outflow
of resources until then. The County has three items that qualify for reporting in this category. They are the
deferred charge on refunding reported in the government-wide statement of net position, the deferred
outflows of resources relating to pension and the deferred outflows of resources relating to OPEB reported
in the government-wide and proprietary funds Statements of Net Position. A deferred charge on refunding
results from the difference in the carrying value of refunded debt and its reacquisition price. This amount is
deferred and amortized over the shorter of the life of the refunded or refunding debt.
In addition to liabilities, the statement of net position reports a separate section for deferred inflows of
resources. This separate financial statement element, deferred inflows of resources, represents an acquisition
of net position that applies to a future period(s) and so will not be recognized as an inflow of resources
(revenue) until that time. The County has three items that qualify for reporting in this category in the
government-wide and proprietary funds statements of net position and one item in the governmental funds
balance sheet. Deferred gains on refunding are reported as deferred inflows of resources in the statements of
net position, the deferred inflows of resources relating to pension and the deferred inflows of resources
relating to OPEB reported in the government-wide and proprietary funds statements of net position. The
governmental funds report unavailable revenues from property taxes as deferred inflows of resources in the
governmental fund balance sheet. These amounts are deferred and recognized as inflows of resources in the
period that the amounts become available.
R. Management Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the
United States of America requires management to make estimates and assumptions that affect the reported
amounts of assets, deferred outflow of resources, liabilities, deferred inflows of resources, and the disclosure
of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and
expenses during the reporting period. Actual results could differ from those estimates.
6B6B6B
39
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 2. Budgetary Information
The County follows these procedures in establishing the budgetary data reflected in the financial statements:
A. Prior to August 1, the Chairman of the Board of Commissioners and the County Manager submit to the Board of Commissioners a proposed operating budget and capital projects budget for the fiscal year
commencing the following October 1. The operating and capital projects budgets include proposed
expenditures and the means of financing them.
B. Public hearings are conducted to obtain taxpayer comments.
C. At a date no later than the second Board meeting of September, the budget is formally approved.
D. All budget transfers must be approved by the Budget Administrator, County Manager and/or the Board of Commissioners depending on the type and/or amount of expenditure:
1
2
3
4
5
6
From overtime and part-time to operating and capital or between overtime and part-
time.
Within operating expenditures in a department.
Approval Required
Budget Administrator
Budget Administrator
Budget Administrator
Budget Administrator
No budget transfers are to be made between the regular salaries and overtime and part-time budget or the operating
expenditures budget in a department without Board approval.
No budget transfers are to be made between the regular salaries and overtime and part-time budget or the capital
budget in a department without Board approval.
From operating expenditures to capital.
From capital to operating expenditures.
Budget Transfer
The legal level of control (the level at which expenditures may not legally exceed appropriations) for each
legally adopted annual operating budget is at the category level within departments.
Formal budgetary integration is employed as a management control device during the year for the General
and Debt Service Funds. Annual budgets are also adopted for the Fire District, Law Library, Community
Services, Hotel/Motel Tax, Emergency 911, Parking Deck Facility, 800 MHz, Streetlight District, Six Flags Special Purpose District, Cumberland Special Service District 1, Cumberland Special Service District 2,
CMCEHA, Stadium Capital Maintenance Fund Special Revenue Funds, and the CMCEHA Debt Service
Fund. The Grant Fund and Housing and Urban Development Special Revenue Funds have project length
adopted budgets that differ from the County’s fiscal year end. Budgets for the General, Debt Service and
certain Special Revenue funds are adopted on the modified accrual basis except that encumbrances are
treated as budgetary expenditures in the year of the incurrence of the commitment to purchase. Actual
GAAP expenditures have been adjusted to the non-GAAP budgetary basis for budgetary comparison within
this report. Because there were no encumbrances outstanding at the end the year in the CMCEHA Debt
Service Fund, BOC Debt Service Fund, Community Service Fund, Hotel Motel Fund, 800MHz Fund,
Streetlight District, Six Flags Special Service District, Cumberland Special Service District 1, Cumberland
Special Service District 2, CMCEHA Fund, and the Stadium Capital Maintenance Fund the budgets for
these funds are presented on a GAAP basis.
40
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 2. Budgetary Information (Continued)
Budgeted amounts are as originally adopted, or as amended, by the Board of Commissioners. Individual
amendments were not material in relation to the original appropriations that were amended. Unencumbered
appropriations lapse at year-end. There were no material supplementary appropriations made during the
year.
The actual results of operations on the budgetary basis are presented in the Statement of Revenues,
Expenditures and Changes in Fund Balances – Budget and Actual (Budgetary Basis) for the General, and
the major Special Revenue funds in order to provide a meaningful comparison of actual results with the
budget. Schedules of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual are
presented as supplementary information for certain nonmajor governmental funds. The major difference
between the budget basis and GAAP is that encumbrances are recognized as expenditures for budgetary
purposes. All encumbered appropriations are carried forward in the following year’s budget. Accordingly,
encumbrances are included as budgetary expenses in two different years. Adjustments necessary to convert
the results of operations and fund balances at the end of the year on the budgetary basis to the GAAP basis
are as follows:
$ 33,838,202 $ (6,447,606) $ 10,545,208
6,132,031 8,261,214 35,494
- - (1,855,144)
$ 39,970,233 $ 1,813,608 $ 8,725,558
$ 123,983,739 $ 27,389,602 $ 49,188,197
6,132,031 8,261,214 35,494
- - 1,026,304
$ 130,115,770 $ 35,650,816 $ 50,249,995
Fund Revenue Funds
Excess (Deficiency) of Revenues
and Other Sources Over
Expenditures and Other Uses
General Fire District Nonmajor Special
Budgetary Basis
Encumbrances 9/30/18
Grant-length Plans
GAAP Basis
Fund
Fund Revenue Funds
Fund Balances at End of Year
General Fire District Nonmajor Special
Budgetary Basis
Encumbrances 9/30/18
Grant-length Plans
GAAP Basis
Fund
Note 3. Cash and Cash Equivalents and Investments
Concentration of Credit Risk
No more than 40% of the entire invested portfolio may be placed with any one bank or security dealer. The
longer the maturity of a particular investment, the greater its susceptibility to market price and credit losses. The
County seeks to limit such risk by maintaining conservative maturities that are within guidelines
41
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 3. Cash and Cash Equivalents and Investments (Continued)
recommended by the Government Finance Officers Association (GFOA). These guidelines generally
recommend avoiding securities with maturities beyond five years unless the investment is matched and held to a
specific maturity.
Custodial credit risk – deposits and investments
Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a
government will not be able to recover deposits or will not be able to recover collateral securities that are in the
possession of an outside party. The County limits its exposure to custodial credit risk by requiring deposits and
investments to be collateralized in accordance with State law. At September 30, 2018 the County was not
exposed to custodial credit risk.
Investments are made in accordance with state law and the County’s Investment Policy that requires investments
be acquired on a “delivery vs. payment” basis, thereby providing maximum protection to the County.
As of September 30, 2018, the County's reporting entity had the following investments:
Type of Investment Rating Fair Value
Less than 1 1-5 6-10 More than 10
PRIMARY GOVERNMENT
Georgia Fund I AAA $ 204,575,230 204,575,230$ -$ -$ -$
U.S. Agencies AAA 93,004,044 39,392,118 53,611,926 - -
Money Market Mutual Funds 517,450 517,450 - - -
Total Primary Government (non-fiduciary) $ 298,096,724 $ 244,484,798 $ 53,611,926 $ - $ -
FIDUCIARY FUNDS
Pension Trust Fund:
Common Stocks $ 201,577,112 n/a n/a n/a n/a
Mutual Funds 386,220,489 386,220,489 - - -
Bond Corp. AAA 1,349,849 - 1,059,711 290,138 -
AA 5,824,057 1,017,535 3,815,263 279,941 711,318
A 31,650,233 3,599,824 15,582,002 7,393,427 5,074,980
BBB 14,855,939 771,408 7,405,480 4,293,628 2,385,423
Government and Agency Bonds Not Rated 18,399,681 - 2,920,159 6,730,624 8,748,898
Georgia Fund I AAA 228,569 228,569 - - -
Money Market 11,847,029 11,847,029 - - -
Total Pension Trust Fund $ 671,952,958 $ 403,684,854 $ 30,782,615 $ 18,987,758 $ 16,920,619
Investment Maturities (in Years)
OPEB Trust Fund:
Common Stocks $ 32,613,384 n/a n/a n/a n/a
Mutual Funds 76,618,014 76,618,014 - - -
Money Market 2,105,330 2,105,330 - - -
Bond Corp. AAA 304,812 - 263,896 - 40,916
AA 4,338,797 198,916 644,294 1,477,090 2,018,497
A 6,505,308 281,744 3,813,284 1,574,568 835,712
BBB 3,449,708 598,640 1,700,810 773,110 377,148
Total OPEB Trust Fund $ 125,935,353 $ 79,802,644 $ 6,422,284 $ 3,824,768 $ 3,272,273
42
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 3. Cash and Cash Equivalents and Investments (Continued)
Investments of the primary government and fiduciary funds include $205,092,680 and $228,569, respectively,
grouped in cash and cash equivalents and exclude $2,200,000 of nonnegotiable certificates of deposits of the
primary government.
Credit Risk – Investments
As of September 30, 2018 the County’s investment in U.S. Agencies that are implicitly guaranteed were as
follows: Federal National Mortgage Association $7,956,614, Federal Home Loan Bank $33,994,808, Federal
Home Loan Mortgage Corporation $14,625,109, Federal Farm Credit Banks $26,519,738, and United States
Treasury $9,907,775. All of the U.S. Agencies that the County has investments with are rated AAA.
Interest Rate Risk – Investments
As a means of limiting its exposure to fair value losses arising from rising interest rates, the County’s investment
policy limits the pension investments to the following maximum percentages: Domestic securities 65%, Non-
domestic securities 15%, and Fixed income investments and Cash 40%.
The Office of State Treasurer is the oversight agency for Georgia Fund I.
The County categorizes its fair value measurements within the fair value hierarchy established by generally
accepted accounting principles. Fair value is the exchange price that would be received for an asset (exit price) in
the principal or most advantageous market for an asset in an orderly transaction between market participants on
the measurement date. There are three levels of inputs that may be used to measure fair values:
Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets that the County has the
ability to access.
Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset in active
markets, as well as inputs that are observable for the asset (other than quoted prices), such as interest rates,
foreign exchange rates and yield curves that are observable at commonly quoted intervals.
Level 3 inputs are unobservable inputs for the asset which are typically based on the County’s own assumptions,
as there is little, if any, related market activity.
43
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 3. Cash and Cash Equivalents and Investments (Continued)
The County’s recurring fair value measurements as of September 30, 2018 are as follows:
13B12B11B 14B
Level 1 Level 2 Level 3
PRIMARY GOVERNMENT
US Agencies 93,004,044$ -$ 93,004,044$ -$
Money Market Mutual Funds 517,450 517,450 - -
Total Primary Government (non-fiduciary) 93,521,494$ 517,450$ 93,004,044$ -$
FIDUCIARY FUNDS
Pension Trust Fund:
Common Stocks 201,577,112$ 201,577,112$ -$ -$
Mutual Funds 386,220,489 386,220,489 - -
Bond Corp. 53,680,078 - 53,680,078 -
Government and Agency Bonds 18,399,681 - 18,399,681 -
Total Pension Trust Fund 659,877,360$ 587,797,601$ 72,079,759$ -$
OPEB Trust Fund:
Common Stocks 32,613,384$ 32,613,384$ -$ -$
Mutual Funds 76,618,014 76,618,014 - -
Bond Corp. 14,598,625 - 14,598,625 -
Total OPEB Trust Fund 123,830,023$ 109,231,398$ 14,598,625$ -$
Fair Value Measurement Using
44
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 4. Restricted Assets
Restricted assets at September 30, 2018 are as follows:
Governmental Activities
Fire District Fund:
Restricted for construction 2,706$
SPLOST Fund:
Restricted for construction 179,753,320
Nonmajor Special Revenue Funds:
Restricted for renewal and expansion 19,398,080
Restricted for debt service 3,849,803
Restricted for special programs 17,448,099
Nonmajor Capital Project Funds:
Restricted for construction 3,439,290
Nonmajor Debt Service Funds:
Restricted for debt service 13,696,176
Total governmental activities 237,587,474$
Business-type Activities
Water and Sewer Fund:
Customer deposits 6,789,833$
Unspent bond proceeds 393,163
Restricted for renewal and expansion 43,435,004
Nonmajor Enterprise Funds:
Security deposits 46,146
Ticket sales deposits 2,456,473
Restricted for debt service 639,988
Total business-type activities 53,760,607$
45
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
5B 14B1Note 5. Capital Assets
Capital asset activity for the year ended September 30, 2018 was as follows:
Governmental activities:
Capital assets, not being depreciated:
Land $ 1,086,932,163 $ 69,466,786 $ - $ 1,156,398,949
Construction in progress 294,813,534 128,376,138 (300,764,518) 122,425,154
Total capital assets, not being depreciated $ 1,381,745,697 $ 197,842,924 $ (300,764,518) $ 1,278,824,103
Capital assets, being depreciated:
Buildings $ 1,139,110,745 $ 73,280,921 $ (566,708) $ 1,211,824,958
Improvements other than buildings 58,196,969 132,038,155 - 190,235,124
Machinery and equipment 343,803,632 20,211,875 (6,368,801) 357,646,706
Infrastructure 2,807,622,068 91,847,956 - 2,899,470,024
Total capital assets, being depreciated $ 4,348,733,414 $ 317,378,907 $ (6,935,509) $ 4,659,176,812
Less accumulated depreciation for:
Buildings $ (197,445,082) $ (31,739,477) $ 452,833 $ (228,731,726)
Improvements other than buildings (25,150,111) (4,001,136) - (29,151,247)
Machinery and equipment (268,210,303) (21,951,874) 6,050,817 (284,111,360)
Infrastructure (1,256,451,972) (71,733,470) - (1,328,185,442)
Total accumulated depreciation $ (1,747,257,468) $ (129,425,957) $ 6,503,650 $ (1,870,179,775)
Total capital assets, being depreciated, net 2,601,475,946 187,952,950 (431,859) 2,788,997,037
Governmental activities capital assets, net $ 3,983,221,643 $ 385,795,874 $ (301,196,377) $ 4,067,821,140
Beginning
Balance
Ending
Increases Decreases Balance
46
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
16B 15B1Note 5. Capital Assets (Continued)
Ending
Increases Decreases Balance Business-type activities:
Capital assets, not being depreciated:
Land and improvements $ 84,081,750 $ 672,308 $ - $ 84,754,058
Artwork 198,750 - - 198,750
Construction in progress 396,360,567 30,802,426 (391,882,032) 35,280,961
Total capital assets, not being depreciated $ 480,641,067 $ 31,474,734 $ (391,882,032) $ 120,233,769
Capital assets, being depreciated:
Buildings and structures $ 158,427,381 $ 379,292 $ - $ 158,806,673
Sewerage plants 844,335,287 390,192,363 - 1,234,527,650
Machinery and equipment 117,024,203 13,683,827 (1,384,497) 129,323,533
Infrastructure:
Sewer lines 565,806,335 5,900,240 - 571,706,575
Water lines and meters 495,582,846 3,529,201 - 499,112,047
Total capital assets, being depreciated $ 2,181,176,052 $ 413,684,923 $ (1,384,497) $ 2,593,476,478
Less accumulated depreciation for:
Buildings and structures $ (45,782,892) $ (3,709,322) $ - $ (49,492,214)
Sewerage plants (372,626,638) (29,638,787) - (402,265,425)
Machinery and equipment (76,985,211) (6,183,988) 1,384,497 (81,784,702)
Infrastructure:
Sewer lines (237,100,597) (10,939,275) - (248,039,872)
Water lines and meters (206,627,851) (11,649,971) - (218,277,822)
Total accumulated depreciation $ (939,123,189) $ (62,121,343) $ 1,384,497 $ (999,860,035)
Total capital assets, being depreciated, net 1,242,052,863 351,563,580 - 1,593,616,443
Business-type activities capital assets, net $ 1,722,693,930 $ 383,038,314 $ (391,882,032) $ 1,713,850,212
Beginning
Balance
Depreciation expense was charged to functions/programs of the primary government as follows:
Governmental activities:
General government $ 9,396,602
Public safety 18,432,377
Public works 74,927,014
Health and welfare 117,308
Culture and recreation 25,668,742
Housing and development 864,056
Capital assets held by the government's internal service fund are
charged to the various function based on their usage of the assets 19,858
Total depreciation expense - governmental activities $ 129,425,957
Business-type activities:
Water and Sewer $ 54,419,095
Cobblestone Golf Course 32,548
Public Transit System 4,924,831
Solid Waste Disposal 399,773
Performing Arts Centre 2,154,007
Galleria Specialty Shops 191,089
Total depreciation expense - business-type activities $ 62,121,343
47
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 6. Risk Management
The County established a risk management program for casualty, liability and medical claims in 1985.
Premiums are paid into the Claims Internal Service Fund by other funds and are available to pay claims and
administrative costs. The County is self-insured up to $650,000 per occurrence for workers’ compensation.
Amounts exceeding this are covered by an excess workers’ compensation policy. Over the past several years, the
County has increased various coverage limits. The County’s current coverage limits are as follows:
$750,000,000 in property insurance, $10,000,000 in aviation liability, $5,000,000 in crime coverage, $3,000,000
in privacy/cyber liability, $20,000,000 in fiduciary coverage. The County is self-funded for automobile and
general liability claims up to $2,000,000. The County has $20,000,000 in excess liability coverage for liability
claims above the self-funded amount.
The County has not experienced any significant decreases in insurance coverage from the previous year nor has
it paid any settlements in excess of insurance coverage in the past three fiscal years. Liabilities are reported when
it is probable that a loss has occurred and the amount of the loss can reasonably be estimated. Liabilities include
an amount for claims that have been incurred but not reported. Incurred but not reported claims of $13,872,117
have been accrued as a liability in the Claims Internal Service Fund based primarily upon a County and actuary’s
estimate. The entire liability is estimated to be current. Interfund premiums are based primarily upon the insured
funds’ claims experience.
18B 17B16
September 30
2009 13,526,910$ 39,263,098$ 42,701,479$ 10,088,529$
2010 10,088,529 46,505,221 44,698,738 11,895,012
2011 11,895,012 47,962,483 45,824,572 14,032,923
2012 14,032,923 46,067,749 46,601,163 13,499,509
2013 13,499,509 46,199,945 48,190,147 11,509,307
2014 11,509,307 53,910,949 53,309,281 12,110,975
2015 12,110,975 54,121,966 53,089,267 13,143,674
2016 13,143,674 58,198,314 56,912,384 14,429,604
2017 14,429,604 58,594,744 58,999,280 14,025,068
2018 14,025,068 60,244,390 60,397,341 13,872,117
Balance Incurred Paid Balance
Beginning Claims Claims Ending
9B1Note 7. Leases
A. Operating Leases
The County has several operating leases for equipment that are not material.
B. Capital Leases
Cobb County is obligated under capital leases initiated in current and prior years covering various types of
equipment and building improvements.
48
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
9B 1Note 7. Leases (Continued)
The assets acquired through capital leases are as follows:
Total
Governmental
Activities
Building $ 738,117
Machinery and equipment 10,272,153
Less: Accumulated depreciation (8,318,465)
Total $ 2,691,805
Amortization expense of assets recorded under capital leases is included with depreciation expense.
The following is a schedule of the future minimum lease payments together with the present value of the net
minimum lease payments as of September 30, 2018:
Total
Governmental
Activities
2019 5,965,727$
2020 5,965,727
2021 2,291,355
Total minimum lease payments 14,222,809
Less amounts representing interest 237,512
Present value of future minimum lease payments 13,985,297$
In July, 2015 a lease agreement was entered into with Whitney Bank to finance the purchase of radios,
inclement weather equipment and police vehicles. The lease agreement is for 66 months. The lease
agreement qualifies as a capital lease and has been recorded in the SPLOST Fund.
In February, 2016, a lease agreement was entered into with Bank of America to finance the purchase of
public safety vehicles. The lease agreement is for 60 months. The lease agreement qualifies as a capital
lease and has been recorded in the SPLOST Fund.
Note 8. Short-Term Tax Anticipation Notes
In June 2018, the County issued $90 million in tax anticipation notes to finance general operations of the County
through November 2018. The notes bear interest at 2.25 percent and are due on November 30, 2018. These notes
were paid on November 30, 2018 from 2018 property tax revenues collected between September and November.
Total payments of principal and interest on November 30, 2018 amounted to $91,046,250. 22B21B20B
49
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 8. Short-Term Tax Anticipation Notes (Continued)
The borrowings were allocated to the General Fund and Fire District Special Revenue Fund as follows:
Principal Premium Total
General Fund 70,000,000$ 224,701$ 70,224,701$
Fire District Special Revenue Fund 20,000,000 64,199 20,064,199
90,000,000$ 288,900$ 90,288,900$
Short-term debt activity for the year ended September 30, 2018, was as follows:
Beginning Ending
Balance Issued Reductions Balance
Tax Anticipation Notes 60,000,000$ 90,000,000$ (60,000,000)$ 90,000,000$
Premium on Notes 112,053 288,900 (307,759) 93,194
Total Tax Anticipation
Notes Payable 60,112,053$ 90,288,900$ (60,307,759)$ 90,093,194$
22B21B20BNote 9. Long-Term Debt
60B58B56BA. Primary Government Beginning Amounts
Balance Ending Due Within
Governmental Activities: (As Restated) Additions Reductions Balance One Year
General Obligation Bonds:
2008 Parks $ 2,185,000 $ - $ (2,185,000) $ - $ -
2017 Parks 24,700,000 - (3,610,000) 21,090,000 3,800,000
Revenue Bonds:
1993 Refunding 27,275,000 - (2,110,000) 25,165,000 2,225,000
2005 Refunding 13,255,000 - (1,030,000) 12,225,000 1,085,000
2009 Refunding 8,730,000 - (825,000) 7,905,000 850,000
2013 Refunding 36,450,000 - (2,015,000) 34,435,000 2,180,000
2015 Stadium 372,910,000 - (7,440,000) 365,470,000 7,545,000
2015 South Cobb Redevelopment Authority 9,270,000 - (375,000) 8,895,000 385,000
Total bonds before discounts and premiums 494,775,000 - (19,590,000) 475,185,000 18,070,000
Add:
Unamortized bond premiums and discounts 5,471,313 - (955,649) 4,515,664 -
Total bonds payable 500,246,313 - (20,545,649) 479,700,664 18,070,000
Capital leases 19,731,392 - (5,746,095) 13,985,297 5,471,690
Certificate of Participation 8,415,000 - (450,000) 7,965,000 475,000
Revenue Anticipation Certificates 5,820,000 - (255,000) 5,565,000 260,000
Add:
Revenue Anticipation Certificates Premium 69,005 - (3,632) 65,373 -
Total Revenue Anticipation Certificates 5,889,005 - (258,632) 5,630,373 260,000
Net pension liability 492,439,646 144,522,883 (56,462,038) 580,500,491 -
Net OPEB liability 178,571,310 36,318,163 (17,845,911) 197,043,562 -
Compensated absences 26,642,651 19,326,433 (17,375,793) 28,593,291 17,649,279
Total other liabilities 731,689,004 200,167,479 (98,138,469) 833,718,014 23,855,969
Governmental Activities Long-term Liabilities $ 1,231,935,317 $ 200,167,479 $ (118,684,118) $ 1,313,418,678 $ 41,925,969
50
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 9. Long-Term Debt (Continued)
The Internal Service Fund predominately serves the governmental funds. Accordingly, long-term liabilities
for the Internal Service Fund are included as part of the above totals for governmental activities. At year-
end, $20,276 of the Internal Service Fund’s compensated absences is included in the above amounts. Also,
for the governmental activities, claims and judgments, net pension liability, net OPEB liability, and
compensated absences are generally liquidated by the General Fund, Fire District Fund, Law Library Fund,
the Grant Funds, Emergency 911 Fund, and Parking Deck Facility Fund.
30B29B27
Beginning
Balance Ending Due Within
Business-type Activities: (As Restated) Additions Reductions Balance One Year
Revenue Bonds:
2009 Water & Sewer Serial $ 89,185,000 $ - $ (5,725,000) $ 83,460,000 $ 5,985,000
2013 Water & Sewer Serial Bond 44,450,000 - (7,000,000) 37,450,000 7,165,000
2007 Performing Arts Centre 6,405,000 - (535,000) 5,870,000 555,000
Total Bonds before discounts and premiums 140,040,000 - (13,260,000) 126,780,000 13,705,000
Add: Bond premiums 5,357,987 - (446,499) 4,911,488 -
Total bonds payable 145,397,987 - (13,706,499) 131,691,488 13,705,000
Notes payable 129,682,955 - (9,314,257) 120,368,698 9,583,749
Net pension liability 44,641,208 12,045,678 (5,023,357) 51,663,529 -
Net OPEB liability 17,296,187 3,517,612 (1,728,413) 19,085,386 -
Closure and postclosure 23,318,149 - (443,303) 22,874,846 443,303
Compensated absences 1,847,855 1,515,918 (1,444,117) 1,919,656 1,449,189
Total other liabilities 216,786,354 17,079,208 (17,953,447) 215,912,115 11,476,241
Business-type Activities Long-term Liabilities $ 362,184,341 $ 17,079,208 $ (31,659,946) $ 347,603,603 $ 25,181,241
The beginning balance of the net OPEB liability has been restated. See Note 26.
Bonds payable at September 30, 2018 are comprised of the following individual issues:
1. General Obligation Bonds
$24,700,000 2017 Park serial bonds due in annual installments of $3,610,000 to $4,650,000
through January 1, 2023; interest at 4.25 to 5.00 percent ($21,090,000 outstanding). The Bonds
were issued to finance the costs of acquiring park land within the County to be owned by the
County for so long as any Series 2017 Bonds remain outstanding and to be used as park land in
perpetuity, and paying the costs of the issuance of the Series 2017 Bonds.
$15,000,000 2008 Park serial bonds paid in full on January 1, 2018; interest at 2.42 to 3.63
percent ($0 outstanding). The Bonds were issued to finance the costs of acquiring park land
within the County to be owned by the County for so long as any Series 2008 Bonds remain
outstanding and to be used as park land in perpetuity, and paying the costs of the issuance of
the Series 2008 Bonds.
2. Revenue Bonds
A. Governmental Activities
$47,965,000 1993 serial bonds due in annual installments of $2,110,000 to $3,445,000
through October 1, 2026; interest at 5.50 to 5.625 percent ($25,165,000 outstanding). The
51
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 9. Long-Term Debt (Continued)
Bonds were issued to refund a portion of the series 1991 bonds, which were issued to
finance the construction of the convention center.
$13,255,000 2005 serial bonds, due in annual installments of $1,030,000 to $1,670,000
through October 1, 2027 ($12,225,000 outstanding), subject to mandatory redemption
requirements beginning October 1, 2017. The term bonds come due with the applicable
fixed rates from 5.25 to 5.50 percent. The Bonds were issued to refund a portion of the
series 1999 bonds.
$14,335,000 2009 serial bonds due in annual installments of $825,000 to $1,130,000
through July 1, 2026; interest at 3.0 to 4.0 percent ($7,905,000 outstanding). The Bonds
were issued to refund the series 1996 bonds, which were originally issued to finance the
purchase of approximately eleven acres of land for future expansion capabilities.
$41,635,000 2013 refunding serial bonds due in annual installments of $2,015,000 to
$4,155,000 through January 1, 2029; interest at 3.0 to 5.00 percent ($34,435,000
outstanding). The Bonds were issued to refinance the series 2004 bond issue that was
originally issued to finance the construction of a new Performing Arts Centre and parking
garage.
$376,600,000 2015 serial bonds due in annual installments of $7,440,000 to $ 21,270,000
through January 1, 2047; interest at 1.0 to 3.25 percent ($365,470,000 outstanding). The
Bonds were issued to finance, in part the cost of acquisition, construction and equipping of
the stadium project and the costs of issuance of the bonds.
$10,000,000 2015 serial bonds due in annual installments of $375,000 to $705,000
through July 1, 2035; interest at 3.0 to 4.0 percent ($8,895,000 outstanding). The Bonds
were issued to finance, in part the cost of various redevelopment and infrastructure
improvement projects within the Six Flags Special Purpose District.
B. Business-type Activities
$126,570,000 2009 serial bonds due in annual installments of $5,725,000 to $9,350,000
through July 1, 2029; interest at 3.00 to 4.25 percent ($83,460,000 outstanding). The
Bonds were issued to finance a portion of certain additions, betterments, replacements,
extensions and improvements to the County’s water and sewerage facilities and to pay
expenses necessary to accomplish the foregoing.
$71,545,000 2013 refunding serial bonds due in annual installments of $7,000,000 to
$7,800,000 through July 1, 2023; interest at 2.15 percent ($37,450,000 outstanding). The
Bonds were issued for the purpose of advance refunding, defeasing and optionally
redeeming the County’s outstanding 2003 serial bonds and paying the cost of issuance of
the Series 2013 Bonds.
$10,000,000 2007 refunding serial bonds due in annual installments of $535,000 to
$760,000 through January 1, 2027, originally with interest at a fixed rate of 3.99%, which
was reduced to 2.88% effective June 1, 2012 ($5,870,000 outstanding). The Bonds were
issued to provide additional financing for the construction, renovation, equipping, and
other such activities for the Performing Arts Centre.
52
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 9. Long-Term Debt (Continued)
The County has pledged future water customer revenues, net of specified operating
expenses, to repay $198.1 million in water revenue bonds issued from 2009 to 2013.
Proceeds from the bonds will provide financing for water and sewer infrastructure. The
bonds are payable from water customer net revenues and are payable through 2029.
During the current year, principal and interest paid and total net pledged revenues were
$17,597,294 and $66,145,633 respectively. The total principal and interest remaining to be
paid on the bonds as of September 30, 2018 was $120,910,000 and $26,184,084
respectively.
The annual requirements to amortize all General Obligation and Revenue bonds outstanding at
September 30, are as follows:
General Obligation Bonds
Year
Ending
September Principal Interest
2019 $ 3,800,000 $ 959,500
2020 4,000,000 764,500
2021 4,210,000 559,250
2022 4,430,000 343,250
2023 4,650,000 116,250
$ 21,090,000 $ 2,742,750
Governmental Activities
Year
Ending
September Principal Interest
2019 $ 14,270,000 $ 18,997,328 $ 13,705,000 $ 4,727,264
2020 14,820,000 18,507,757 14,165,000 4,287,620
2021 15,425,000 17,968,618 14,670,000 3,800,247
2022 16,075,000 17,372,815 15,165,000 3,293,000
2023 16,760,000 16,742,921 15,690,000 2,765,522
2024-2028 87,745,000 73,086,612 44,035,000 7,718,016
2029-2033 61,970,000 58,313,332 9,350,000 397,375
2034-2038 69,660,000 44,222,771 - -
2039-2043 85,300,000 27,123,750 - -
2044-2047 72,070,000 6,630,525 - -
$ 454,095,000 $ 298,966,429 $ 126,780,000 $ 26,989,044
Principal Interest
Governmental Activities Business-Type Activities
Revenue BondsRevenue Bonds
53
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 9. Long-Term Debt (Continued)
The annual requirements to amortize all Water and Sewer Revenue Bonds outstanding at
September 30, 2018 are as follows:
Principal Interest Total
2019 13,150,000$ 4,566,200$ 17,716,200$
2020 13,590,000 4,142,828 17,732,828
2021 14,070,000 3,672,375 17,742,375
2022 14,540,000 3,182,768 17,722,768
2023 15,040,000 2,673,650 17,713,650
2024-2028 41,170,000 7,548,888 48,718,888
2028-2029 9,350,000 397,375 9,747,375
$ 120,910,000 $ 26,184,084 $ 147,094,084
Outstanding Water and Sewer Parity Bonds
The preceding information is presented in order to meet continuing disclosure requirements as set
forth in the Security and Exchange Commission’s Rule 15c2-12(b) (5).
3. Compliance
The 1985 Series Water and Sewerage Bond Resolution require the establishment of a Debt
Service Reserve Account within the Water and Sewerage Sinking Fund in an amount at least
equal to the highest annual debt service on the Series 1985 Bonds. The Resolution also
authorizes Cobb County to obtain a surety bond in place of funding the Debt Service Reserve
Account. The County has obtained a Municipal Bond Insurance Association bond for this
purpose. However, the Series 2003 Resolution amends the Prior Resolutions and provides that
commencing on December 1, 2003, there shall no longer be a Debt Service Reserve
Requirement for any Bonds then outstanding. There are a number of limitations and
restrictions contained in the various bond indentures. The County is in compliance with all
significant limitations and restrictions.
$6,905,735 is available in the Debt Service Fund to service the general obligation bonds.
4. Prior Years’ Advance Refundings
Revenue Bonds:
During the fiscal year ending September 30, 2013, the County issued Series 2013 Water and
Sewer Refunding Revenue Bonds of $71,545,000 with interest rates of 2.15 percent to advance
refund $78,535,000 of the 2003 Water and Sewer Revenue Bonds with interest rates of 3.0 to
5.0 percent. The 2013 Water and Sewer Refunding Revenue Bonds were issued at par. After
paying the issuance costs of $407,899 the net proceeds were $71,137,101. The net proceeds
from the issuance were used to purchase U.S. government securities, and those securities were
deposited into an irrevocable trust with an escrow agent to provide debt service payments on
the 2003 bond issue maturing in 2023. The advance refunding met the requirements of an in-
substance defeasance, thus the refunded portions of the 2003 bonds are no longer included in
the Water and Sewer Fund Statement of Net Position bond payable balance. The amount of
defeased debt outstanding but removed from the County’s records totaled $40,090,000 at
September 30, 2018.
54
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 9. Long-Term Debt (Continued)
5. Certificates of Participation
$10,730,000 Series 2010 Certificates of Participation is due in annual installments of $450,000
to $780,000 through January 1, 2031; interest at 2.25 to 4.00 percent ($7,965,000 outstanding).
The contract obligates Cobb County to pay the debt service obligations on the Cobb County
Courthouse Parking Deck Project Certificates of Participation until the bonds are repaid.
2019 $ 475,000 $ 279,063 $ 754,063
2020 490,000 264,588 754,588
2021 510,000 249,588 759,588
2022 535,000 233,578 768,578
2023 555,000 216,547 771,547
2024-2028 3,140,000 781,525 3,921,525
2029-2031 2,260,000 139,425 2,399,425
Total $ 7,965,000 $ 2,164,314 $ 10,129,314
Certificate of Participation
Principal Interest Total
6. Revenue Anticipation Certificates
$6,315,000 2014 Revenue Anticipation Certificates is due in annual installments of $255,000
to $410,000 through July 1, 2035; interest at 2.00 to 3.25 percent ($5,565,000 outstanding).
The Certificates were issued to finance in whole or in part the costs of the design, construction
and equipping of a two story building, which will be subleased to the Community Service
Board through an intergovernmental agreement.
2019 $ 260,000 $ 162,600 $ 422,600
2020 265,000 157,400 422,400
2021 275,000 149,450 424,450
2022 280,000 141,200 421,200
2023 290,000 132,800 422,800
2024-2028 1,580,000 538,886 2,118,886
2029-2033 1,810,000 301,440 2,111,440
2034-2035 805,000 39,486 844,486
Total $ 5,565,000 $ 1,623,262 $ 7,188,262
Revenue Anticipation Certificates
Principal Interest Total
7. Notes Payable
$35,000,000 2008 Notes Payable is due in monthly installments of $195,402 through
December 1, 2028; interest at 3.00 percent (with $20,668,219 outstanding). The loan is
financing the construction of various water tunnels and pump stations.
55
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 9. Long-Term Debt (Continued)
$35,000,000 2009 Notes Payable is due in monthly installments of $194,109 through October
1, 2022 (with one final payment of $76,257 payable on November 1, 2022); interest at 3.00
percent (with $9,009,098 outstanding). The loan is financing the construction of various water
tunnels and pump stations. This note was restructured upon securing the 2010 Note Payable for
$6,000,000.
28B27B25B
$6,000,000 2010 Notes Payable is due in monthly installments of $33,378 [payments were
$50,044] through February 1, 2030 (with one final payment of $7,779 payable on February 1,
2030); interest at 3.00 percent (with $3,870,351 outstanding). The loan is financing the
construction of various water tunnels and pump stations. This loan represents the restructuring
of the prior 2009 Note Payable for a $10,000,000 loan in which $4,000,000 was forgiven
during fiscal year 2010.
$25,000,000 2010 Notes Payable is due in monthly installments of $138,649 through August 1,
2030; interest at 3.00 percent (with $16,652,636 outstanding). The loan is financing the
construction of various water tunnels and pump stations.
$25,000,000 2011 Notes Payable is due in monthly installments of $134,490 through August 1,
2031; interest at 3.00 percent (with $17,264,205 outstanding). The loan is financing the
construction of various water tunnels and pump stations. $750,000 of the loan was forgiven
during fiscal year 2011.
$35,000,000 2011 Notes Payable is due in monthly installments of $194,109 through January
1, 2032; interest at 3.00 percent (with $25,571,573 outstanding). The loan is financing the
construction of various water tunnels and pump stations.
$35,000,000 2012 Notes Payable is due in monthly installments of $179,222 through July 1,
2033; interest at 3.00 percent (with $27,332,616 outstanding). The loan is financing the
construction of various water tunnels and pump stations.
2019 $ 9,583,749 $ 3,248,561 $ 12,832,310
2020 9,860,311 2,971,998 12,832,309
2021 10,147,331 2,684,978 12,832,309
2022 10,440,560 2,391,750 12,832,310
2023 8,659,292 2,114,038 10,773,330
2024-2028 45,687,384 6,827,436 52,514,820
2029-2033 25,990,071 1,222,838 27,212,909
Total $ 120,368,698 $ 21,461,599 $ 141,830,297
Notes Payable
Principal Interest Total
56
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 9. Long-Term Debt (Continued)
B. Discretely Presented Component Units
Cobb County Board of Health
Amounts
Ending Due Within
Additions Reductions Balance One Year
Governmental Activities:
Net Pension Liability $ 17,236,562 $ - $ (2,568,888) $ 14,667,674 $ -
Net OPEB Liability 14,484,952 - (1,361,843) 13,123,109 -
Compensated Absences 723,550 704,892 (687,381) 741,061 737,326
Total Long-term Liabilities $ 32,445,064 $ 704,892 $ (4,618,112) $ 28,531,844 $ 737,326
Beginning
Balance
33B
Note 10. Fund Balance Determinations and Classifications
Special revenue funds U are used to account for and report the proceeds of specific revenue sources that are
restricted or committed to expenditure for specified purposes other than debt service or capital projects. The term
“proceeds of specific revenue sources” establishes that one or more specific restricted or committed revenues
should be the foundation for a special revenue fund. Restricted or committed specific revenue sources should
comprise a substantial portion of the fund’s resources. If revenues are initially received in another fund, they
should not be reported as revenues in the fund receiving them; instead, they should be recognized in the special
revenue fund where they will be spent. The proceeds from these special revenue sources should be expected to
continue to comprise a substantial portion of inflows.
Capital projects funds U are used to account for and report financial resources that are restricted, committed, or
assigned to expenditure for capital outlays. Capital projects’ funds exclude those types of capital related outflows
financed by proprietary funds. U
Debt service funds U are used to account for and report financial resources that are restricted, committed, or
assigned to expenditure for principal and interest.
The following classifications are used by the County:
1. General, Special Revenue, Debt Service, and Capital Projects Funds: 34B34B32B
a. UNonspendable Fund Balance U: the portion of a fund balance that includes amounts that cannot be spent because they are either not in a spendable form [prepaid items, inventories of supplies, or
loans receivable] or be legally or contractually required to be maintained intact.
b. URestricted Fund Balance U: the portion of a fund balance that reflects constraints placed on the use of resources other than nonspendable items that are either externally imposed by creditors [debt
agreements, grantors, or laws or regulations of other governments], or be imposed by law through
constitutional provisions or enabling legislation.
57
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 10. Fund Balance Determinations and Classifications (Continued)
c. UCommitted Fund Balance U: the portion of a fund balance that includes amounts that can only be used for specific purposes pursuant to constraints imposed by formal action of the Board of
Commissioners and remain binding unless removed in the same manner. Board of Commissioners’
resolution is required in order to establish, modify or rescind a fund balance commitment. This is
the highest level of authoritative action at the local level.
d. UAssigned Fund Balance U: the portion of a fund balance that includes amounts that are constrained by the government’s intent to be used for specific purposes but that are neither restricted nor
committed. The Commissioners have by resolution authorized the County Manager to assign fund
balance.
e. UUnassigned Fund Balance U: that portion of a fund balance that includes amounts that do not fall into one of the above four categories. The General Fund is the only fund that should report a positive
unassigned balance.
The County uses restricted amounts to be spent first when both restricted and unrestricted fund balances are
available, unless there are legal documents/contracts that prohibit the use of restricted fund balance, such as
grant agreements that require a dollar match. Additionally, the County would then use committed, assigned and
lastly unassigned amounts from the unrestricted fund balance when expending funds.
The County does not have a formal minimum fund balance policy; however the Board of Commission address
various targeted reserve positions and the Finance Department calculates targets and actuals and reports the
results to the Board of Commissioners on an annual basis.
2. Fiduciary Funds:
a. Reserved for employees’ pension benefit – restricted for payment of future employee pension
benefit distributions.
b. Reserved for employees’ other post employee benefit – restricted for payment of future employee
other post-employment benefit distributions.
58
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 10. Fund Balance Determinations and Classifications (Continued)
The composition of the Special Programs Fund Balance Classification is as follows:
Special Programs:
Courts $ 1,227,796 $ - $ 1,227,796
E-911 - 5,499,875 5,499,875
800 MHz - 13,783 13,783
Streetlight District - 4,420,036 4,420,036
Grants - 2,877,690 2,877,690
Library - 89,020 89,020
Cumberland Special
Service District - 3,113,305 3,113,305
Sheriff 704,726 - 704,726
CMCEHA - 18,625,333 18,625,333
Stadium maintenance - 4,910,421 4,910,421
Total $ 1,932,522 $ 39,549,463 $ 41,481,985
Special Programs:
Community Development $ 817,875 $ - $ 817,875
Communications 2,123,331 - 2,123,331
Courts 907,519 - 907,519
General Government 801,681 - 801,681
Information Services 583,803 - 583,803
Library 216,175 - 216,175
Non-Profit & Other Governmental 126,242 - 126,242
Parks 1,803,550 - 1,803,550
Parking Deck - 113,102 113,102
Property Management 60,593 - 60,593
Public Safety 2,665,453 - 2,665,453
Senior Services 422,624 - 422,624
Sheriff 682,261 - 682,261
Transportation 1,988,749 - 1,988,749
CMCEHA - 988,571 988,571
Total $ 13,199,856 $ 1,101,673 $ 14,301,529
Funds TotalFund
Nonmajor
General Governmental
Funds Total
Special Program Classification: Restricted Fund Balance
General Governmental
Nonmajor
Special Program Classification: Committed Fund Balance
Fund
35B34B32
59
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 10. Fund Balance Determinations and Classifications (Continued)
Special Programs:
Community Development 6,528$ -$ 6,528$
County Attorney 55 - 55
County Clerk 1,163 - 1,163
Courts 30,327 - 30,327
Elections 3,856 - 3,856
Fleet 29,091 - 29,091
Human Resources 10,367 - 10,367
Information Services 271,951 - 271,951
Internal Audit 72 - 72
Library 1,555 - 1,555
Medical Examiner 3,060 - 3,060
Non-Profit & Other Governmental 24,647 - 24,647
Parks 201,713 - 201,713
Parking Deck - 1,595 1,595
Property Management 217,411 - 217,411
Public Safety 419,211 - 419,211
Purchasing 431 - 431
Senior Services 27,773 - 27,773
Sheriff 299,277 - 299,277
Tax Assessor 335 - 335
Tax Commissioner 973 - 973
Transportation 248,522 - 248,522
Total $ 1,798,318 $ 1,595 $ 1,799,913
Fund Funds Total
Nonmajor
General Governmental
Special Program Classification: Assigned Fund Balance
In the nonmajor funds, the Community Services Fund has a deficit fund balance of $34 and the Solid Waste
Disposal Fund has a deficit net position of $17,093,569.
5B 33BNote 11. Property Taxes
The County bills and collects its own property taxes and those taxes for the Cobb County School System and
some municipalities within the County. Collections of the County taxes and remittance of them to the General
Fund, Fire District Fund, Debt Service Fund, the school system and municipalities are accounted for in the Tax
Commissioner Agency Fund. County property tax revenues are recognized when levied to the extent that they
result in current receivables.
Property taxes are levied each July based on values as of January 1st and are due on October 15th each year.
Collections of property taxes are made throughout the year. Liens may attach to the property for unpaid taxes at
any time within three years after the due date. 38B36B34B
60
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 12. Tax Abatements
In fiscal year 2017, the County adopted Governmental Accounting Standards Board (GASB) Statement No. 77,
Tax Abatement Disclosures. This statement requires state and local governments to disclose tax abatement
agreements entered by other governments that reduce the reporting government’s tax revenues. The following
information should be disclosed; (1) brief descriptive information, such as the tax being abated, the authority
under which tax abatements are provided, eligibility criteria, the mechanism by which taxes are abated,
provisions for recapturing abated taxes, and the types of commitments made by tax abatement recipients; (2) the
gross dollar amount of taxes abated during the period; and (3) commitments made by a government, other than to
abate taxes, as part of a tax abatement agreement.
Cobb County, through the Development Authority of Cobb County, allows for taxable revenue bond financing,
pursuant to the Georgia Development Authorities law, under Title 36 Chapter 62 of the Official Code of
Georgia, in order to promote the creation of jobs and stimulate development activity within Cobb County. The
taxable revenue bond financings result in the reduction of ad valorem (real and/or personal property) taxes.
The County offers a reduction in property taxes through the structure of these financing arrangements.
Specifically, the Development Authority of Cobb County, a tax exempt public organization created
independently from the County, may enter into agreements with private individuals or entities in order to
incentivize these businesses to build, relocate, expand, or renovate in Cobb County. The agreements involve a
bond issuance and sale-leaseback transaction, whereby the Development Authority takes title to property and
leases it back to the company. The business or individual is responsible for making ad valorem tax payments on
its leasehold interest. The rental payments for the leasehold offset the debt service on the bonds over a fixed 10
year term, so that at the end of the incentive period the bonds are fully retired and the company regains title of
the property through an option to purchase.
The Development Authority considers the fiscal impacts of a proposed project and weighs such benefits against
the costs of reduced revenue impacts when considering whether to enter into a taxable revenue bond deal with an
individual or entity. Generally eligible projects involve a commitment of significant capital investment and/or
the creation of net new jobs to the County, which propose a favorable return on investment for the County. There
are no additional commitments other than to provide favorable tax treatment. There are provisions for
recapturing some portion of the value of these incentives in the event capital investment and job creation
numbers are not met during the incentive period; however, the Development Authority can immediately return
title to a company for a non-performing project, which cancels the incentive going forward. There are no
amounts receivable from other governments.
For the fiscal year ended September 30, 2018, Cobb County abated property taxes that were levied on January 1,
2018 and due on October 15, 2018 totaling $1,615,517. Included in that amount abated, the following are
individual tax abatement agreements that each exceeded 10 percent of the total amount abated:
Tax Abatement Project % Abated
Amount of
Taxes Abated
Home Depot-Real 90% 264,269$
Highwoods Reality 90% 379,804$
Genuine Parts 90% 197,936$
Home Depot USA 95% 258,826$
Akers 75 100% 232,606$
61
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 13. Interfund Balances and Transfers Individual fund interfund receivable and payable balances for the fiscal year ended September 30, 2018 are as
follows:
Due to / from other funds:
General Fund Nonmajor Governmental Funds $ 608,754
Nonmajor Governmental Funds General Fund 3,706,052
Nonmajor Enterprise Funds 137,363
Nonmajor Governmental Funds 572,082
4,415,497
Nonmajor Enterprise Funds General Fund 3,500,014
Internal Service Fund Fire District Fund 3,210,000
$ 11,734,265
Receivable Fund Payable Fund Amount
All interfund balances are due either to timing differences or to the elimination of negative cash balances within
the various funds. All interfund balances are expected to be repaid during the fiscal year ending September 30,
2019.
Advance from/to other funds:
$ 2,981,022 General Fund Nonmajor Enterprise Funds
Receivable Fund Payable Fund Amount
The amounts payable to the General Fund relates to financing for cash purposes and are not subject to be repaid
in the subsequent year.
Transfers: 39B36B34B
Transfer out:
General Fund -$ -$ 605,247$ -$ -$ 36,884,562$ 13,308,405$ 50,798,214$
Fire District Fund - - 1,100,000 - - 536,720 - 1,636,720
Water and Sewer Fund 21,138,843 - - - - 707,093 - 21,845,936
Internal Service Fund 896,881 7,444 6,184 55,050 3,369 3,200 - 972,128
Nonmajor Governmental Funds 10,466,502 - 2,159,713 25,468 - 20,484,652 1,582,599 34,718,934
Nonmajor Enterprise Funds - - - - - 3,361 647,577 650,938
Total transfers out 32,502,226$ 7,444$ 3,871,144$ 80,518$ 3,369$ 58,619,588$ 15,538,581$ 110,622,870$
Total
Internal
Service
Fund
Nonmajor
Governmental
Funds
Transfer In
Nonmajor
Enterprise
Funds
Water and
SPLOSTGeneral
Fund
Fire District
Fund Fund
Sewer
Fund
38B36B34B
62
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 13. Interfund Balances and Transfers (Continued)
Interfund transfers are used to (1) move revenues from the fund that statute or budget requires to collect them to
the fund that statute or budget requires to expend them, (2) move receipts restricted to debt service from the
funds collecting the receipts to the debt service fund as debt service payments become due, and (3) use
unrestricted revenues in the general fund to finance various programs accounted for in other funds in accordance
with budgetary authorizations.
41B 39B37B 42B40B38B
43B41B39BNote 14. Contingent Liabilities
Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies,
principally the federal government. Any disallowed claims, including amounts already collected, may constitute
a liability of the applicable funds. The amount, if any, of expenditures which may be disallowed by the grantor
cannot be determined at this time although the County expects such amount, if any, to be immaterial.
Cobb County is a defendant in various lawsuits in the normal course of its activities. Based on counsel and
management’s opinion, a liability has been recorded for lawsuits where a potential loss is considered probable.
44B 42B40BNote 15. Deferred Compensation Plan
The County offers its employees a deferred compensation plan created in accordance with Internal Revenue
Code Section 457. The plan is available to all County employees and permits them to defer a portion of their
salary until future years. The deferred compensation is not available to employees until termination, retirement,
death or unforeseeable emergency. All amounts of compensation deferred under the plan, all property and rights
purchased with those amounts, all income attributable to those amounts, property, or rights are (until paid or
made available to the employee or other beneficiary) solely the property and rights of the emplo yees.
Investments are managed by the Plan’s trustee under one of the investment options, or a combination thereof.
The participants make the choice of the investment option(s).
The County has adopted GASB No. 32, Accounting and Financial Reporting for Internal Revenue Code Section
457 Deferred Compensation Plans, which rescinded GASB Statement No. 2. The County has only minor
administrative involvement and does not perform any investing for the plan. Due to the fact the County’s role in
management of the plan assets is basically limited to transmitting amounts withheld from payroll to an outside
party responsible for administering the plan, the County does not report the assets of the Deferred Compensation
Plan in the County’s financial statements.
45B43B41B
63
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 16. Due From Other Governments and Agencies
Cobb County Board of Health $ 957
City of Acworth, Georgia 10,497
City of Austell, Georgia 894,717
City of Kennesaw, Georgia 9,077
City of Marietta, Georgia 128,030
City of Powder Springs, Georgia 6,289
City of Smyrna, Georgia 10,160
Chattahoochee Tech 15,573
Safepath 7,415
University of Georgia 7,875
Total General Fund $ 1,090,590
SPLOST Fund:
City of Marietta, Georgia $ 109,015
City of Powder Springs, Georgia 143,570
Cumberland Community Improvement District 109,720
Federal Transit Administration 224,346
State of Georgia, Department of Transportation 15,242,683
Total SPLOST Fund $ 15,829,334
Nonmajor Governmental Funds:
$ 47
448,818
24,101
$ 472,966
$ 129,635
$ 591,864
Prosecuting Attorney's Council of Georgia 240,492
2,043
499,585
449,780
79,964
175,141
$ 2,038,869
$ 648,243
CMCEHA Fund:
$ 50,546
92,072
Total CMCEHA Fund $ 142,618
$ 2,959,365
$ 20,352,255
Total Special Revenue Funds
City of Marietta, Georgia
City of Smyrna, Georgia
United States, Department of Housing and Urban Development
Capital Projects Funds:
Public Facilities Fund:
State of Georgia, Department of Transportation
Housing and Urban Development Grant Fund:
State of Georgia, Criminal Justice Coordinating Council
State of Georgia, Department of Human Resources
Grant Fund:
Atlanta Regional Commission
Kennesaw State University
Towncenter Community Improvement District
Total Public Facilities Fund
State of Georgia, Criminal Juvenile Court Judges
State of Georgia, Department of Technical and Adult Education
General Fund:
Total Grant Fund
State of Georgia, Department of Human Resources
Community Services Fund:
Special Revenue Funds:
United States, Department of Justice
B43B41B
64
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 16. Due From Other Governments and Agencies
Cobb Marietta Water Authority $ 12,223
$ 2,606,191
Metro Atlanta Rapid Transportation Authority 186,773
State Road and Tollway Authority 6,174,737
$ 8,967,701
$ 8,979,924
Federal Transit Administration
Total Public Transit System Fund
Public Transit System Fund:
Water System Fund:
Proprietary Funds:
Note 17. Other Post-Employment Benefits
Plan Description and Provisions
The Cobb County Government Health Benefit Plan (the “OPEB Plan”) is a single employer defined benefit post-
retirement healthcare plan, or other post-employment benefit (OPEB) plan administered by the County. The
Cobb County OPEB Trust is an irrevocable trust established pursuant to Section 115 of the Internal Revenue
Code for the purpose of pre-funding other post-employment health benefits in accordance with GASB Statement
74 and GASB Statement 75. The trust was established June 10, 2008, by the Board of Commissioners to pre-
fund medical and prescription drug benefits for retirees and their eligible dependents that are eligible for such
benefits under existing County policy. Benefit terms and contribution requirements are established and may be
amended by the Cobb County Pension Fund Board of Trustees. The Pension Board of Trustees is composed of
five members appointed by the Board of Commissioners who represents the interest of the employees and
taxpayers of the County.
At January 1, 2018, the following employees were covered by the benefit terms:
January 1, 2018
Inactive Members Or Their Beneficiaries
Currently Receiving Benefits 1,632
Inactive Members Entitled To But Not Yet
Receiving Benefits -
Active Members 4,349
Total 5,981
Eligibility
Effective January 1, 2007 (for Employees hired prior to January 1, 2006):
All full-time employees with seven or more years of services will be eligible to continue medical coverage at
termination of employment.
Effective January 1, 2010:
All full-time new hires will be eligible to continue medical coverage with thirty years of service at termination of
employment.
65
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 17. Other Post Employment Benefits (Continued)
Funding Policy/Contributions
The Cobb County Board of Commissioners establishes rates based on an actuarially determined rated recommended by an independent actuary. The actuarially determined rate is the estimated amount necessary to
finance the costs of benefits earned by plan members during the year, with an additional amount to finance any
unfunded accrued liability. The County is required to contribute the difference between the actuarially
determined rate and the contributions rate of plan members. The contribution requirements of plan members and
the County are established and may be amended by the Pension Fund Board of Trustees. Plan members receiving
benefits under the PPO plan contribute $150.81 per month for retiree, $406.30 per month for retiree and spouse
coverage, $385.99 per month for retiree and child(ren) coverage, and $569.93 per month for family coverage.
Plan members receiving benefits under the EPO/HMO plan contribute $64.83 per month for retiree, $220.04 per
month for retiree and spouse coverage, $209.05 per month for retiree and child(ren) coverage, and $309.64 per
month for family coverage Plan members receiving benefits under the CDHP plan contribute $43.72 per month
for retiree, $185.87 per month for retiree and spouse coverage, $176.59 per month for retiree and child(ren)
coverage, and $261.96 per month for family coverage. Plan members receiving benefits under the Kaiser
Signature plan contribute $35.02 per month for retiree, $152.30 per month for retiree and spouse coverage,
$144.70 per month for retiree and child(ren) coverage, and $213.20 per month for family coverage. During the
plan year the County contributed $19,574,024 to the Plan. Total retiree contributions from retirees totaled
$2,484,966 during the plan year.
Investments
The Plan’s policy in regard to the allocation of invested assets is established and may be amended by the Pension
Board of Trustees by a majority vote.
The long-term expected rate of return on OPEB plan investments was determined using a building-block method
in which best-estimate ranges of expected future real rates of return (expected returns, net of investment expense
and inflation) are developed for each major asset class. These ranges are combined to produce the long-term
expected rate of return by weighting the expected future real rates of return by the target asset allocation
percentage and by adding expected inflation.
The target asset allocation and best estimates of arithmetic real rates of return for each major asset class included
in the target asset allocation as of September 30, 2018 are summarized in the following table:
Asset Class Target Allocation
Long Term Expected Real
Rate of Return
US Fixed Income Core 25% -0.20%
US Large Cap Equity Core 33% 4.70%
US Mid Cap Equity Core 6% 5.20%
US Small Cap Equity Core 6% 5.40%
Global Equity Core 10% 5.50%
International Equity Core 20% 6.60% Total 100%
For the year ended September 30, 2018, the annual money-weighted rate of return on investments, net of
investment expense, was 8.34%. The money-weighted rate of return expresses investment performance, net of
investment expense, adjusted for the changing amounts actually invested.
66
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 17. Other Post-Employment Benefits (Continued)
Net OPEB Liability of the County
The net OPEB liability reported by the County at September 30, 2018 is based on the measurement date of
September 30, 2018 and determined by an actuarial valuation as of January 1, 2018. The components of the net
OPEB liability as of the Plan’s fiscal year end, September 30, 2018 are as follows:
Total OPEB liability 342,139,885$
Plan fiduciary net position 126,010,937
County's net OPEB liability 216,128,948$
Plan fiduciary net position as a percentage of the
total OPEB liability 36.83%
The changes in the Net OPEB Liability were as follows:
Total OPEB
Liability
Plan Fiduciary
Net Position
Net OPEB
Liability
(a) (b) (a)-(b)
Balances at September 30, 2017 308,592,601$ 112,725,104$ 195,867,497$
Changes for the Year:
Service cost 3,987,889 - 3,987,889
Interest 22,560,419 - 22,560,419
Benefit changes - - -
Difference between expected and
actual experience (11,337,230) - (11,337,230)
Changes in assumptions 33,910,230 - 33,910,230
Contributions - employer - 19,574,024 (19,574,024)
Contributions - employee - - -
Net investment income - 9,285,533 (9,285,533)
Benefit payments including
refunds of employee contributions (15,574,024) (15,574,024) -
Adminstrative expense - - -
Other changes - 300 (300)
Net changes 33,547,284$ 13,285,833$ 20,261,451$
Balances at September 30, 2018 342,139,885$ 126,010,937$ 216,128,948$
67
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 17. Other Post-Employment Benefits (Continued)
Actuarial Methods and Assumptions
The Total OPEB Liability as of September 30, 2018 was determined based on an actuarial valuation prepared as
of January 1, 2018, using the following actuarial assumptions, applied to all periods included in the measurement
and rolled forward to the measurement date of September 30, 2018:
Valuation date January 1, 2018
Inflation 2.50%
Salary increases 3.00-4.00%, including 2.50% wage inflation
Investment rate of return 7.50% compounded annually, net of investment expense, and including inflation
Municipal Bond Index Rate
at Measurement Date 4.09%
Municipal Bond Index Rate
at Prior Measurement Date 3.57%
Healthcare cost trend rates
Pre-Medicare Eligible 7.00%
Medicare Eligible 5.00%
Utimate trend rate 5.00%
The actuarial assumptions used in the January 1, 2018 valuation were based on the results of an actuarial
experience study for the five year period ending December 31, 2016.
The discount rate used to measure the total OPEB liability was 7.50%. The projection of cash flows used to
determine the discount rate assumed that County contributions will be made at rates equal to the actuarially
determined contribution rates. Based on those assumptions, the OPEB plan’s fiduciary net position was projected
to be available to make all projected future benefit payments of current plan members. Therefore, the long-term
expected rate of return on OPEB plan investments was applied to all periods of projected benefit payments to
determine the total OPEB liability.
The following presents the net OPEB liability of the County, as well as what the County’s net OPEB liability
would be if it were calculated using a discount rate that is 1-percentage-point lower (6.5 percent) or 1-
percentage-point higher (8.5 percent) than the current discount rate:
1% Decrease Discount Rate 1% Increase
(6.5%) (7.5%) (8.5%)
Net OPEB liability 260,616,577$ 216,128,948$ 179,128,272$
The following presents the net OPEB liability of the County, as well as what the County’s net OPEB liability
would be if it were calculated using healthcare cost trend rates that are 1-percentage-point lower (6.0 percent
decreasing to 4.0 percent, 4.0 percent for Medicare eligible) or 1-percentage-point higher (8.0 percent decreasing
to 6.0 percent, 6.0 percent for Medicare eligible) than the current healthcare cost trend rates:
68
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 17. Other Post-Employment Benefits (Continued)
Healthcare Cost
1% Decrease Trend Rates 1% Increase
Net OPEB liability 174,190,107$ 216,128,948$ 267,383,248$
(6% decreasing to 4% pre-
Medicare, 4% for
Medicare eligible)
(7% decreasing to 5% for
pre-Medicare, 5% for
Medicare eligible )
(8% decreasing to 6% for
pre-Medicare, 6% for
Medicare eligible)
OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB
For the year ended September 30, 2018, the County recognized OPEB expense of $20,933,840. At September 30,
2018, the County reported deferred outflows of resources and deferred inflows of resources related to OPEB
from the following sources:
Deferred Outflows of
Resources
Deferred Inflows of
Resources
Differences between expected and actual experience -$ 9,766,977$
Change in assumptions 29,213,522 -
Net difference between projected and actual earnings
on plan investments - 544,912
Employer contributions made subsequent to the
measurement date - -
Total 29,213,522$ 10,311,889$
Amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be
recognized in OPEB expense as follows:
Year ended September 30,
2019 2,990,227$
2020 2,990,227
2021 2,990,227
2022 2,990,227
2023 3,126,455
Thereafter 3,814,270
Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and assumptions
about the probability of occurrence of events far into the future. Examples include assumptions about future
employment, mortality, and the healthcare cost trend. Actuarially determined amounts are subject to continual
revision as actual results are compared with past expectations and new estimates are made about the future.
Projections of benefits for financial reporting purposes are based on the substantive plan (the plan as understood
by the employer and the plan members) and include the types of benefits provided at the time of each valuation
and the historical pattern of sharing of benefit costs between the employer and plan members to that point. The
actuarial methods and assumptions used include techniques that are designed to reduce the effects of short-term
volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long-term
perspective of the calculations. The plan does not issue separate financial statements.
69
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 17. Other Post-Employment Benefits (Continued)
The January 1, 2017 valuation is used to determine the recommended contribution for fiscal year 2018.
Valuation date: January 1, 2017
Actuarial cost method: Projected unit credit cost method
Amortization method: Level percentage of pay, closed
Remaining amortization period: 26 years
Asset valuation method: Market value of assets
Actuarial Assumptions Utilized:
Investment rate of return: 7.50%
Pre-Medicare Medical cost trend rate: 7.00%
Medicare Eligible Medical cost trend rate: 5.00%
Ultimate trend rate 5.00%
Year of ultimate trend rate: 2022
Includes inflation at: 2.50%
Note 18. Employee Retirement System
A. Primary Government
Cobb County Government Employees’ Pension Plan
The Cobb County Government Employees’ Pension Plan is a single-employer defined benefit plan and the
contributing entity is Cobb County. The employees covered are County employees and public safety
employees. The Plan provides retirement benefits to participants according to provisions of the plan
document normally in the form of a life annuity.
Oversight of the Plan is by a five member Pension Board of Trustees composed of appointees by the Board
of Commissioners who represents the interest of the employees and taxpayers of the County. The Board of
Trustees provides an annual report to the Board of Commissioners. A stand alone financial report is not
prepared for the Plan. The benefit provisions and all other requirements are established by the Cobb County
Board of Commissioners. The Cobb County Board of Commissioners shall have the right at any time by
instrument of writing, to modify, alter or amend the Pension Plan in whole or in part, provided, however,
that any benefits which have actually accrued and become payable shall not be affected.
The distribution of number of employees by type of member is as follows:
Retired participants and beneficiaries currently receiving benefits 2,438
Terminated participants entitled to benefits, but not yet receiving benefits 957
Active participants 4,233
Total 7,628
Number of Participants as of January 1, 2018
Eligibility
For employees hired before January 1, 2009, the first day of the calendar month coinciding with or next
following the participant’s 65th birthday, or if later, the day the participant completes 7 years of service.
However, for any participant who has met all of the requirements to be eligible to retire under the Normal
70
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 18. Employee Retirement System (Continued)
Retirement or Rule of 80 provisions as of December 31, 2008, the Normal Retirement Date shall remain the
later of age 65 and the completion of 5 years of service. For employees hired on or after January 1, 2009, the
later of age 65 or 10 years of service. For employees hired on or after January 1, 2010, the later of Social
Security Normal Retirement Age or 10 years of service.
Benefits
Member’s normal retirement pension shall equal 2.5% of the member’s total years of benefit accrual
service. For participants hired before January 1, 2009, the average of the 5 highest consecutive years of
compensation out of the last 10 years, provided that the final average compensation used shall not be less
than the 3 year final average compensation calculated as of December 31, 2008. However, any participant
who has met all of the requirements to be eligible to retire under the Normal Retirement or Rule of 80
provisions as of December 31, 2008 shall always be calculated using the 3 highest consecutive years of
compensation. For employees hired on or after January 1, 2009, the final average compensation will consist
of the average of the 5 highest consecutive years of compensation out of the last 10 years. For employees
hired on or after January 1, 2010 and any employee hired prior to this date who elected to enter the Hybrid
Plan, no overtime will be used in the final average compensation calculation. Member’s Hybrid Plan
pension shall equal 1.0% of the member’s total years of benefit accrual service.
The Pension Plan provides pre-retirement spouse death benefits. To be eligible the member must have Seven
years of service (or 10 depending on date of hire) and has been married one full year prior to death. If the
Participant was killed in the line of duty, there is no minimum service requirement. The benefit amount is
45% of the Participant’s Accrued Benefit determined as if death had occurred at their Normal Retirement
Date, assuming Credited Service continued until Normal Retirement Date and Compensation remained the
same. The benefit commences immediately and is reduced if the spouse is more than 10 years younger than
the Participant.
Contributions
The Cobb County Board of Commissioners establishes rates based on an actuarially determined rated recommended by an independent actuary. The actuarially determined rate is the estimated amount necessary
to finance the costs of benefits earned by plan members during the year, with an additional amount to
finance any unfunded accrued liability. The County is required to contribute the difference between the
actuarially determined rate and the contributions rate of plan members. For the year ended September 30,
2018, the traditional active member’s contribution rate went from 7.25% to 7.50% in March 2018 and the
County’s contribution rate was 19.68% of covered payroll. During the plan year, total pension contributions
were $47,521,805 from the County.
Investments
The pension plan’s policy in regard to the allocation of invested assets is established and may be amended
by the Pension Board of Trustees by a majority vote. It is the policy of the Board of Trustees to pursue an
investment strategy that reduces risk through the prudent diversification of the portfolio across a broad
selection of asset classes. The pension plan’s investment policy does not permit the following securities and
transactions without prior Trustee approval: 1) Letter stock and other unregistered; commodities or other
commodity contracts; short sales or margin transactions; uncovered and covered options. 2) Investments for
the purpose of exercising control of management. 3) Investments in companies that have filed petition for
bankruptcy.
71
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 18. Employee Retirement System (Continued)
The long-term expected rate of return on pension plan investments was determined using a log-normal
distribution analysis in which best estimate ranges of expected future real rates of return (expected returns,
net of pension plan investment expenses and inflation) are developed for each major asset class. These
ranges are combined to produce the long-term expected rate of return by weighting the expected future real
rates of return by the target asset allocation percentage and by adding expected inflation.
The target asset allocation and best estimate of arithmetic real rates of return for each major asset class as of
September 30, 2018 are summarized below:
Target Long-Term Expected
Allocation Real Rate of Return
US Fixed Income 25% -0.20%
US Equity 33% 4.70%
US Equity Mid Cap 6% 5.20%
US Equity Small Cap 6% 5.40%
Global Equity 10% 5.50%
International Equity 20% 6.60%
Total 100%
Asset Class
For the year ended September 30, 2018, the annual money-weighted rate of return on the Pension Plan’s
investments, net of pension plan investment expense, was 9.19%. The money-weighted rate of return
expressed investment performance, net of investment expense, adjusted for the changing amounts actually
invested. 51B49B4
Net Pension Liability of the County
The net pension liability reported by the County was measured as of September 30, 2018. Updated
procedures were used to roll forward the total pension liability from the actuarial valuation as of January 1,
2018 to the plan’s fiscal year end, September 30, 2018. The components of the net pension liability of the
County as of September 30, 2018, were as follows:
Total Pension Liability 1,304,951,127$
Plan Fiduciary Net Position 672,787,107
County's Net Pension Liability 632,164,020$
Plan Fiduciary Net Position as a % of the
Total Pension Liability 51.56%
72
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 18. Employee Retirement System (Continued)
Changes in Net Pension Liability were as follows:
Total Pension Plan Fiduciary Net Pension
Liability Net Position Liability
Balances at September 30, 2017 $ 1,160,261,241 $ 623,180,387 $ 537,080,854
Changes for the year:
Service cost 19,655,059 - 19,655,059
Interest 84,474,307 - 84,474,307
Benefit changes 58,281 - 58,281
Difference between expected
actual experience 21,523,872 - 21,523,872
Changes in assumptions 86,852,659 - 86,852,659
Contributions - employer - 47,521,805 (47,521,805)
Contributions - employee - 13,941,429 (13,941,429)
Net investment income - 56,169,683 (56,169,683)
Benefit payments, including
refunds of employee contributions (67,874,292) (67,874,292) -
Administrative expense - (248,784) 248,784
Other changes - 96,879 (96,879)
Net changes 144,689,886 49,606,720 95,083,166
Balance at September 30, 2018 $ 1,304,951,127 $ 672,787,107 $ 632,164,020
Actuarial Methods and Assumptions
The following actuarial assumptions used in the January 1, 2018 valuation were based on the results of an
actuarial experience study for the period January 1, 2017 through December 31, 2017:
Inflation 2.5%
Salary increases 3.0 to 4.0%, including inflation
Investment rate of return 7.5% net of pension plan investment expense,
and including inflation
Post-retirement benefit increases Not applicable
Mortality rates were based on the RP-2000 Employee Mortality Table projected with Scale BB to 2025, sex
distinct.
73
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 18. Employee Retirement System (Continued)
The projection of cash flows used to determine the discount rate assumed that plan member and County
contributions will be made at the greater of actuarially determined contribution rates and rates adopted by
the County. Based on those assumptions, the pension plan’s fiduciary net position was projected to be
available to make all projected future benefit payments of current active and inactive employees. Therefore,
the long-term expected rate of return on pension plan investments was applied to all periods of projected
benefit payments to determine the total pension liability.
The following represents the net pension liability as of September 30, 2018, calculated using the discount
rate of 7.5 percent, as well as what the net pension liability would be calculated using a discount rate that is
1-percentage-point lower (6.5 percent) or 1-percentage-point higher (8.5 percent) than the current rate:
1% Current 1%
Decrease Discount Increase
(6.5%) (7.5%) (8.5%)
County's Net pension liability 784,868,102$ 632,164,020$ 503,683,528$
Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to
Pensions
For the year ended September 30, 2018, the County recognized pension expense of $70,131,538. At
September 30, 2018, the County reported deferred outflows of resources and deferred inflows of resources
related to pensions from the following sources:
Deferred Deferred
Outflows of Inflows of
Resources Resources
Difference between expected and
actual experience $ 45,424,607 $ -
Changes in assumptions 72,131,869 -
Net difference between projected and
actual earnings on plan investments - 23,087,838
Employer contributions subsequent to the
Measurement Date - -
Total $ 117,556,476 $ 23,087,838
Amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions
will be recognized in pension expense as follows:
74
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 18. Employee Retirement System (Continued)
Year ended September 30:
2019 $ 26,139,478
2020 17,207,353
2021 15,456,086
2022 19,133,709
2023 16,532,012
Thereafter -
Defined Contribution Plan
Effective January 1, 2010 the County adopted the ICMA Retirement Corporation Deferred Compensation
Plan and Trust, a Defined Contribution Plan administered by ICMA Retirement Corporation. This plan is
available to all County employees that employment date is after January 1, 2010. Under this plan the
County shall make matching contributions of 50% of an employee’s earnings, up to 4% of earning
contributed to the ICMA Retirement Corporation Deferred Compensation Plan and Trust. Participants become 100% vested in the plan after five years of service. Any forfeitures are available toward future
contributions. Plan provisions and contribution requirements are established and amended by the Board of
Trustees of Cobb County Government Employees’ Pension Plan. The County made actual contributions
during the year of $1,115,853 to the plan. Total forfeitures during the year were $112,218.
B. Blended Component Units
Defined Contribution Plan – Cobb Marietta Coliseum and Exhibit Hall Authority
The Authority contributes to the Cobb-Marietta Coliseum and Exhibit Hall Authority Profit-Sharing Plan,
which is a defined contribution plan under Section 401(a) of the Internal Revenue Code. The Plan is
administered by the ICMA-Retirement Corporation. At September 30, 2018, there were 140 plan members.
Plan provisions and contribution requirements are established and amended by the Authority. The plan
consists solely of employer contributions. All employees, full and part time, who have performed one (1)
hour of service, are eligible to participate in the plan. On Call employees are not eligible to participate.
Participants become fully vested in the plan after three (3) years of service.
A participant that leaves the employment of the Authority is entitled to their account balance if vesting
requirements are satisfied. Any forfeitures are used to reduce future employer contributions, or if no
contributions are required, forfeited amounts are allocated to participants. The employer has elected to
contribute 7.5% of each participant’s wages, or such amount so as to meet the requirement to qualify for
exclusion from participating in Social Security. The Authority made actual contributions during the year of
$517,398. Forfeitures during the year ended September 30, 2018 totaled $69,062.The plan does not have a
separate audited GAAP-basis postemployment benefit plan report. The plan held no securities of the
Authority or other related parties during the year.
The Authority also contributes to the Cobb-Marietta Coliseum and Exhibit Hall Authority Executive
Pension Plan (a 401 Government Money Purchase Plan). The Plan is administered by the ICMA Retirement
Corporation. At September 30, 2018, there were four plan member. Plan provisions and contribution
requirements are established and amended by the Authority. The plan consists solely of employee
contributions. Participants are immediately vested in the plan. The Authority made no contributions to the
plan during the year. The plan does not have a separate audited GAAP-basis plan report. The plan held no
securities of the Authority or other related parties during the year.
75
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 18. Employee Retirement System (Continued)
The Authority also maintains a Roth IRA Plan; the Plan is administered by the ICMA-Retirement Corporation.
At September 30, 2018, there were 4 plan members. Plan provisions and contribution requirements are
established and amended by the Authority. The plan consists solely of employee contributions. Participants are
immediately vested in the plan. The Authority made no contributions to the plan during the year. The plan does
not have a separate audited GAAP-basis plan report. The plan held no securities of the Authority or other related
parties during the year.
Note 19. Arbitrage Liability
Section 148 of the Internal Revenue Code requires that, with certain exceptions, any arbitrage earned on the
investment of bond proceeds be paid to the federal government. The term “arbitrage” refers to the ability to
invest the proceeds of a relatively low interest rate state or municipal obligation in taxable market securities that
bear a higher interest rate. The County has recorded a liability for “arbitrage” in the following fund:
Water and Sewer Enterprise Fund $54,882
55B53B51BNote 20. Capital Contributions
Capital Contributions recognized as revenue in the Proprietary Funds for the fiscal year ending September 30,
2018 are presented below:
Source:
Developers 8,061,263$
Grants 12,008,311
Donations 9,930,488
30,000,062$
Note 21. Closure and Postclosure Care Costs
State and federal laws and regulations require that the County place a final cover on its landfills when closed and
perform certain maintenance and monitoring functions at the landfill sites for thirty years after closure. In
addition to operating expenses related to current activities of the landfills, an expense provision and related
liability are being recognized based on the future postclosure care costs that are being incurred now that the
landfills are no longer accepting waste. Two landfill sites reached capacity on September 6, 2001. The third
landfill site reached capacity on September 8, 2002. As of September 30, 2018, Cobb County has incurred a
liability totaling $22,874,846.
This liability is recorded in the Solid Waste Disposal Fund and represents the amount of costs reported to date
based on 100% of the original landfill capacity. The estimated remaining time for the landfills to be monitored
and maintained is 25 years. In accordance with GASB 18, the estimated total current cost is based on the amount
that would be paid if all equipment, facilities and services required to close, monitor and maintain the landfills
were acquired as of September 30, 2010.
However, the actual cost may be higher due to inflation, changes in technology or changes in landfill laws and
regulations.
76
Cobb County, Georgia
Notes to Financial Statements
September 30, 2018
Note 21. Closure and Postclosure Care Costs (Continued)
The County will fund the closure and postclosure care costs with subsidies from the General Fund. As of
September 30, 2018, no amount of assets has been restricted for the payment of closure and postclosure care
costs. The remaining portion of anticipated future inflation costs and additional costs that might arise from
changes in postclosure requirements (due to changes in technology or more rigorous environmental regulations,
for example) may need to be covered by charges to future landfill users, taxpayers, or both.
Note 22. Hotel/Motel Lodging Tax
Cobb County has levied an 8% lodging tax. A summary of the transactions for the year ending September 30,
2018 follows:
Lodging tax receipts $ 16,861,644
Debt service payment on refunding revenue bonds,
series 2013 (Performing Arts Center Project) UUU (3,540,875)
Balance of lodging tax was expended for the
promotion of tourism as required by OCGA 48-13-51 $ 13,320,769
7B7B7B
Note 23. Other Commitments
Commitments for water and sewerage system improvements and transit at September 30, 2018 totaled
approximately $31,886,582 and $32,168,102, respectively.
Encumbrances outstanding at year end are as follows:
Fire
Total
Encumbrances $ 6,132,031 $ 8,261,214 $ 75,085,552 $ $ 93,829,031
Governmental
FundsFund
General
4,350,234
Nonmajor
Fund District Fund
SPLOST
8B8B8
Note 24. Joint Ventures
Under Georgia law, the County, in conjunction with other cities and counties in the ten county metropolitan
Atlanta, Georgia areas, are members of the Atlanta Regional Commission (ARC). Membership in a Regional
Commission (RC) is required by the Official Code of Georgia Annotated (OCGA) Section 50-8-34 which
provides for the organizational structure of the RC in Georgia. The County paid dues in the amount of $827,330
to the ARC for the year ended September 30, 2018. The RC Board membership includes the chief elected
official of each county and municipality of the area. OCGA 50-8-39.1 provides that the member governments are
liable for any debts or obligations of a RC. Separate financial statements may be obtained from: Atlanta
Regional Commission, 229 Peachtree St. 100., Atlanta, Georgia 30303.
77
Cobb County, Georgia Notes to Financial Statements
September 30, 2018
Note 24. Joint Ventures (Continued)
The Marietta/Cobb/Smyrna Narcotics Unit (MCS) is considered a joint venture with no equity interest based upon criteria established in GASB Statement No. 14, as amended by GASB Statement No. 61. Pursuant to an interagency agreement established between the chief law enforcement officials for the Sheriff’s Office of Cobb County, the Cobb County Police Department, the Marietta Police Department, the Smyrna Police Department and the District Attorney’s Office of the Cobb Judicial Circuit, the unit was established in 1980 to bring the necessary manpower and resources together in a cooperative effort to stem the flow of illegal substances, organized crime and vice crimes within the community. The agreement is construed as a joint contract of services between governmental entities, authorized pursuant to the general provisions of Georgia law and Article IX, Section III, Paragraph 1 of the Constitution of the State of Georgia. The chief law enforcement officials for each participant outlined above together with the Solicitor General for the State Court of Cobb County comprise the Board of Directors of the MCS unit and direct the operations of the unit. The District Attorney of the Cobb County Judicial Circuit serves as the chairman of the Board and the Sheriff of Cobb County serves as the Secretary/Treasurer. During the fiscal year ended September 30, 2018, there were no transactions entered into between the County and the MCS unit. The MCS unit issues separate financial statements which may be obtained from the Cobb County Sheriff’s Office at 185 Roswell St., Marietta, GA 30090.
9B 9B9BNote 25. Related Organization
The Housing Authority of Cobb County is a related organization of Cobb County. The Housing Authority of Cobb County is excluded from the financial reporting entity because the County’s accountability does not extend beyond making appointments. Audited financial statements are available from the Housing Authority.
Note 26. Restatement
The County implemented GASB Statement No. 75 “Accounting and Financial Reporting for Postemployment Benefit Plans Other Than Pensions” during fiscal year 2018. Statement No.75 requires governments providing defined postemployment benefit plans to recognize their long-term obligation for OPEB benefits as a liability. The effect of this restatement to beginning net position is as follows:
Governmental Business Type Water-Sewer Other Enterprise Activities Activities Fund Funds
Beginning Net Position before Restatement 3,391,711,278$ 1,456,311,854$ 1,339,072,606$ 117,239,248$ Restatement - OPEB (187,575,514) (18,186,713) (17,718,312) (468,401)
Beginning Net Position after Restatement 3,204,135,764$ 1,438,125,141$ 1,321,354,294$ 116,770,847$
The effect of implementing GASB Statement No. 75 to previously reported changes in net position has not been determined.
Note 27.Subsequent Events
Subsequent to year end, a pump at one of the County’s water treatment facilities flooded causing a wastewater spill. As of the date of this report an estimate of the loss or possible loss had not been determined.
78
COMPREHENSIVE ANNUAL FINANCIAL REPORT Return to Table of Contents
Cobb County Finance Department, 100 Cherokee Street, Marietta, Georgia 30090
REQUIRED SUPPLEMENTAL INFORMATION
COBB COUNTY, GEORGIA
EMPLOYEE RETIREMENT SYSTEM
Required Supplementary Information
September 30, 2018
SCHEDULE OF CHANGES IN NET PENSION LIABILITY AND RELATED RATIOS
2018 2017 2016 2015 2014
Total Pension Liability
Service cost $ 19,655,059 $ 18,734,601 $ 18,841,425 $ 18,980,543 $ 16,461,299
Interest 84,474,307 80,415,811 76,728,937 72,176,032 67,327,012
Benefit changes 58,281 3,079,947 (319,947) 463,821 -
Difference between expected
actual experience 21,523,872 17,244,137 14,497,396 25,359,233 -
Changes in assumptions 86,852,659 - - - 33,157,574
Benefit payments, including
refunds of employee contributions (67,874,292) (62,848,129) (58,330,873) (54,262,097) (50,322,458)
Net change in Total Pension Liability $ 144,689,886 $ 56,626,367 $ 51,416,938 $ 62,717,532 $ 66,623,427
Total Pension Liability - Beginning $ 1,160,261,241 $ 1,103,634,874 $ 1,052,217,936 $ 989,500,404 $ 922,876,977
Total Pension Liability - Ending $ 1,304,951,127 $ 1,160,261,241 $ 1,103,634,874 $ 1,052,217,936 $ 989,500,404
Plan Fiduciary Net Position
Contributions - employer $ 47,521,805 $ 44,749,719 $ 42,300,849 $ 39,097,981 $ 34,397,013
Contributions - employee 13,941,429 12,461,897 12,981,148 12,083,766 11,801,194
Net investment income 56,169,683 75,860,411 46,845,674 (5,922,327) 47,291,379
Benefit payments, including
refunds of employee contributions (67,874,292) (62,848,129) (58,330,873) (54,262,097) (50,322,458)
Administrative expense (248,784) (239,862) (250,846) (241,372) (239,523)
Other changes 96,879 113,448 245,212 624,400 86,110
Net Change in Plan Fiduciary Net Position $ 49,606,720 $ 70,097,484 $ 43,791,164 $ (8,619,649) $ 43,013,715
Plan Fiduciary Net Position - Beginning $ 623,180,387 $ 553,082,903 $ 509,291,739 $ 517,911,388 $ 474,897,673
Plan Fiduciary Net Position - Ending $ 672,787,107 $ 623,180,387 $ 553,082,903 $ 509,291,739 $ 517,911,388
Net Pension Liability - Ending $ 632,164,020 $ 537,080,854 $ 550,551,971 $ 542,926,197 $ 471,589,016
Plan Fiduciary Net Position as a percentage
of the Total Pension Liability 51.56% 53.71% 50.11% 48.40% 52.34%
Covered Payroll 241,522,135 226,975,245 220,949,172 214,354,687 208,332,028
Net Pension Liability as a percentage
of Covered Payroll 261.74% 236.63% 249.18% 253.28% 226.36%
Note: Schedule is intended to show information for the last 10 fiscal years. Additional years will be displayed as they
become available.
79
COBB COUNTY, GEORGIA
EMPLOYEE RETIREMENT SYSTEM
Required Supplementary Information
September 30, 2018
SCHEDULE OF PENSION CONTRIBUTIONS
2018 2017 2016 2015 2014
Actuarially determined contribution $ 47,531,556 $ 43,482,797 $ 41,391,890 $ 38,791,424 $ 33,960,537
Contributions in relation to the actuarially
determined contribution 47,521,805 44,749,719 42,300,849 39,097,981 34,397,013
Contributions (excess) $ 9,751 $ (1,266,922) $ (908,959) $ (306,557) $ (436,476)
Covered Payroll $ 258,524,423 $ 247,754,285 $ 239,525,648 $ 230,445,554 $ 221,586,925
Contributions as a percentage of
covered payroll 18.38% 18.06% 17.66% 16.97% 15.52%
Note: Schedule is intended to show information for the last 10 fiscal years. Additional years will be displayed as they
become available.
80
COBB COUNTY, GEORGIA
EMPLOYEE RETIREMENT SYSTEM
Required Supplementary Information
September 30, 2018
SCHEDULE OF PENSION INVESTMENT RETURNS
Annual money – weighted rate of return, net of investment expense
09/30/14 10.54%
09/30/15 (1.04%)
09/30/16 9.68%
09/30/17 14.27%
09/30/18 9.19%
Note: Schedule is intended to show information for the last 10 fiscal years. Additional years will be displayed as they
become available.
81
COBB COUNTY, GEORGIA
EMPLOYEE RETIREMENT SYSTEM
Required Supplementary Information
September 30, 2018
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION – PENSION
Actuarially determined contribution rates are calculated as of January 1, one year prior to the end of the fiscal year in
which contributions are reported. Significant methods and assumptions used in calculating the actuarially determined
contributions are as follows:
Valuation date: 01/01/17
Actuarial cost method: Projected unit credit cost method
Amortization method: Level percentage of pay
Remaining amortization period: 26 years
Asset valuation method: Five-year smoothed market value
The amortization period for this plan is closed.
Actuarial Assumptions Utilized:
Investment rate of return: 7.50%
Projected salary increases: 3.00 % to 4.00%
Includes inflation at 2.50%
Cost-of-living adjustments None
With the exception of the plan years listed below, there were no plan amendments.
In plan year 1995, the plan changed from the “market value” method to the “asset smoothing” method for valuing plan
assets. This change in assumption had no effect on the pension benefit obligation but did result in a contribution
decrease of $473,922 for that year. Also effective January 1, 1995, the plan was amended to allow for an early
retirement window incentive through the period ended December 31, 1994. This incentive allowed for the waiver of the
early retirement reduction factor for all eligible members. This amendment had no effect on the pension benefits
obligation but did result in a contribution increase of $276,783 for that year.
In plan year 1998, the Board of Commissioners adopted certain changes to the Plan, the most significant of which
included the adoption of a “Rule of 80” (combination of years of service and age) and an increase in the benefit
formula to 2.5% of final average salary multiplied by years of service from the current 1.5% per year (for service
before January 1, 1989). These changes became effective on April 1, 1998.
Employees of the County provide the required additional funding to the Plan. For all employees hired after April 1,
1998, participation is mandatory and requires a contribution of 4% of their salary. For existing employees, a one-time
enrollment option was provided, the exercise of which requires a contribution of 4% of their salary. If an existing
employee chose not to exercise this one-time option, their retirement benefits remained at the pre-April 1, 1998 level as
explained above.
Pursuant to plan enhancements adopted by the Board of Commissioners, as of April 1, 1998, all existing employees
were given the option to contribute and all new employees were required to contribute 4% of their basic annual
compensation in return for improved pension benefits as explained below. Effective October 1, 2005 the employee
contribution amount was increased to 4.50%. Effective February 12, 2006 and February 11, 2007 the rate increased to
4.75% and 5.00% respectively. Effective February 2010 the employee contribution rate increased from 5.00% to
5.50%. Effective February 2011 the employee contribution rate increased from 5.50% to 5.75%. Effective February
2012 the employee contribution rate increased from 5.75% to 6.00%. Effective February 2013 the employee
contribution rate increased from 6.00% to 6.25%. Effective February 2014 the employee contribution rate increased
from 6.25% to 6.50%. Effective February 2015 the employee contribution rate increased from 6.50% to 6.75%.
82
COBB COUNTY, GEORGIA
EMPLOYEE RETIREMENT SYSTEM
Required Supplementary Information
September 30, 2018
SCHEDULE OF CHANGES IN NET OPEB LIABILITY AND RELATED RATIOS
Total OPEB liability 2018 2017
Service Cost 3,987,889$ 4,607,942$
Interest 22,560,419 21,697,910
Benefit changes - -
Difference between expected and actual experience (11,337,230) -
Changes of assumptions 33,910,230 -
Benefit payments (15,574,024) (14,037,415)
Refunds of contributions - -
Net change in total OPEB liability 33,547,284 12,268,437
Total OPEB liability - beginning 308,592,601 296,324,164
Total OPEB liability - ending (a) 342,139,885$ 308,592,601$
Plan fiduciary net position
Contributions - employer 19,574,024$ 15,737,414$
Net investment income 9,285,533 13,343,168
Benefit payments (15,574,024) (14,037,415)
Administrative expense - (97,248)
Refunds of contributions - -
Other 300 -
Net change in plan net position 13,285,833$ 14,945,919$
Plan net position - beginning 112,725,104 97,779,185
Plan net position - ending (b) 126,010,937$ 112,725,104$
Net OPEB liability - ending (a) - (b) 216,128,948$ 195,867,497$
Plan fiduciary net position as a percentage of 36.83% 36.53%
the total OPEB liability
Covered payroll 248,606,290$ 232,958,602$
Net OPEB liability as a percentage of
covered payroll 86.94% 84.08%
Note: This schedule is intended to show information for the last 10 fiscal years. Additional years will be displayed as
they become available.
83
COBB COUNTY, GEORGIA
EMPLOYEE RETIREMENT SYSTEM
Required Supplementary Information
September 30, 2018
SCHEDULE OF OPEB CONTRIBUTIONS
2018 2017
Actuarially determined contribution 17,482,165$ 15,708,080$
Contributions in relation to the actuarially
determined contributions 19,574,024 15,571,652
Contribution deficiency (excess) (2,091,859)$ 136,428$
Covered payroll 248,606,290$ 232,958,602$
Actual contributions as a percentage of
covered payroll 7.87% 6.68%
Note: Schedule is intended to show information for the last 10 fiscal years. Additional years will be displayed as they
become available.
Notes to Schedule:
Valuation Date: January 1, 2017
Actuarially determined contribution rates are calculated as of January 1, one year prior to the end of the fiscal
year in which contributions are reported.
Methods and assumptions to determine contribution rates:
Actuarial cost method Projected unit credit
Amortization method Level percent of pay, closed
Remaining amortization period 26 years
Asset valuation method Market Value of Assets
Actuarial assumptions
Investment Rate of Return 7.50% includes inflation at 2.50%
Medical cost trend rate
Pre-Medicare 7.00% includes inflation at 2.50%
Medicare Eligible 5.00% includes inflation at 2.50%
Ultimate trend rate
Pre-Medicare 5.00% includes inflation at 2.50%
Medicare Eligible 5.00% includes inflation at 2.50%
Year of Ultimate trend rate 2022
84
COBB COUNTY, GEORGIA
EMPLOYEE RETIREMENT SYSTEM
Required Supplementary Information
September 30, 2018
SCHEDULE OF OPEB INVESTMENT RETURNS
Annual money – weighted rate of return, net of investment expense
09/30/17 14.29%
09/30/18 8.34%
Note: Schedule is intended to show information for the last 10 fiscal years. Additional years will be displayed as they
become available.
85
Cobb County, Georgia
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual (Budgetary Basis)
For the Fiscal Year Ended September 30, 2018
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Revenues:
Taxes $ 265,987,119 $ 268,487,119 $ 330,242,874 $ 61,755,755
Licenses and permits 25,330,040 25,361,091 28,512,052 3,150,961
Intergovernmental 3,144,000 3,533,414 3,495,832 (37,582)
Charges for services 45,006,736 45,991,698 48,787,501 2,795,803
Fines and forfeits 7,377,000 9,565,616 9,731,182 165,566
Interest earned 281,551 281,551 1,174,418 892,867
Miscellaneous 3,822,100 2,488,118 6,559,736 4,071,618
Total revenues 350,948,546 355,708,607 428,503,595 72,794,988
Expenditures:
Current:
General government 133,770,972 141,869,104 141,869,104 -
Public safety 151,835,314 166,222,137 166,222,123 14
Public works 17,327,480 17,467,167 17,467,167 -
Health and welfare 4,147,372 4,387,122 4,387,122 -
Culture and recreation 33,847,676 37,191,728 36,445,994 745,734
Housing and development 9,526,991 9,768,362 9,768,361 1
Debt service:
Interest and fiscal charges 130,888 466,368 435,480 30,888
Total expenditures 350,586,693 377,371,988 376,595,351 776,637
Excess (deficiency) of revenues
over (under) other expenditures 361,853 (21,663,381) 51,908,244 73,571,625
Other financing sources (uses):
Transfers in 32,821,990 34,776,521 32,502,226 (2,274,295)
Transfers out (47,514,761) (50,924,890) (50,798,214) 126,676
Proceeds from sale of capital assets - - 225,946 225,946
Total other financing sources (uses) (14,692,771) (16,148,369) (18,070,042) (1,921,673)
Net changes in fund balance $ (14,330,918) $ (37,811,750) 33,838,202 $ 71,649,952
Fund balances at beginning of year - GAAP basis 90,145,537
Fund balances at end of year - budgetary basis 123,983,739
Reconciliation to GAAP basis:
Elimination of encumbrances outstanding at
end of year 6,132,031
Fund balance at end of year - GAAP basis $ 130,115,770
Budgeted Amounts
86
Cobb County, Georgia
Fire District Special Revenue Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Revenues:
Taxes $ 89,332,385 $ 89,332,385 $ 91,254,144 $ 1,921,759
Licenses and permits 5,000 5,000 5,100 100
Intergovernmental - - 7,311 7,311
Charges for services 1,830,100 1,830,100 2,026,562 196,462
Interest earned 108,000 108,000 235,142 127,142
Miscellaneous 5,000 48,286 50,893 2,607
Total revenues 91,280,485 91,323,771 93,579,152 2,255,381
Expenditures:
Current:
Personal services 72,395,689 72,505,430 72,505,430 -
Operating expenditures 10,498,295 11,780,816 11,780,766 50
Capital outlay 65,950 21,402,787 13,965,194 7,437,593
Debt service:
Interest and fiscal charges 65,000 165,511 165,511 -
Total expenditures 83,024,934 105,854,544 98,416,901 7,437,643
Excess (deficiency) of revenues
over (under) other expenditures 8,255,551 (14,530,773) (4,837,749) 9,693,024
Other financing sources (uses):
Transfers in - 7,444 7,444 -
Transfers out (156,291) (1,636,720) (1,636,720) -
Proceeds from sale of capital assets - - 19,419 19,419
Total other financing sources (uses) (156,291) (1,629,276) (1,609,857) 19,419
Net changes in fund balance $ 8,099,260 $ (16,160,049) (6,447,606) $ 9,712,443
Fund balance at beginning of year - GAAP basis 33,837,208
Fund balance at end of year - budgetary basis 27,389,602
Reconciliation to GAAP basis:
Elimination of encumbrances outstanding at
end of year 8,261,214
Fund balance at end of year - GAAP basis $ 35,650,816
Budgeted Amounts
For the Fiscal Year Ended September 30, 2018
87
COMPREHENSIVE ANNUAL FINANCIAL REPORT Return to Table of Contents
Cobb County Finance Department, 100 Cherokee Street, Marietta, Georgia 30090
NON-MAJOR FUNDS
COBB COUNTY, GEORGIA
September 30, 2018
NONMAJOR GOVERNMENTAL FUNDS
Special Revenue Funds
Special Revenue Funds are used to account for the proceeds of specific revenue sources that are legally
restricted to the expenditures for specific purposes.
The Law Library Fund provides for the operation and maintenance of the County’s law library.
The Community Services Fund accounts for the grant monies received from the Georgia Department of
Human Resources.
The Grant Fund accounts for grant monies received from various federal and state agencies.
The Housing and Urban Development Grant Fund accounts for monies received from the Department of
Housing and Urban Development under the Community Development Block Grant Program.
The Hotel/Motel Tax Fund accounts for the collection of taxes for a special taxing district.
The Emergency 911 Fund accounts for fee collection and the operation of the Emergency 911 system
within the County.
The Parking Deck Facility Fund accounts for the operation and maintenance of the Marietta Square
parking deck.
The 800 MHz Fund accounts for the operation, maintenance and collection of monies for the 800 MHz
core system.
The Streetlight District Fund accounts for the operation, maintenance and collection of monies for the
streetlight districts within Cobb County.
The Six Flags Special Service District Fund accounts for monies received from a specific property tax
levy for a special taxing district.
The Cumberland Special Service District 1 Fund accounts for monies received from service fees within
a special service district.
The Cumberland Special Service District 2 Fund accounts for monies received from a specific property
tax levy for a special taxing district.
The CMECEHA Fund is the Cobb Marietta Exhibit Hall Authority’s primary operating fund. It accounts
for all of the Authority’s resources of general government, except those required to be accounted for in
another fund.
The Stadium Capital Maintenance Fund accounts for the future capital maintenance of SunTrust Park.
0BCapital Projects Funds
Capital Projects Funds are used to account for the financial resources to be used for the acquisition or
construction of major capital facilities and improvements – other than those financed by Proprietary Funds.
The Public Facilities Fund accounts for monies transferred for various governmental funds for the purpose
of the construction of public facilities throughout the County.
88
COBB COUNTY, GEORGIA
September 30, 2018
The SCRA Construction Fund accounts issuance of the 2015 South Cobb Redevelopment Authority
Bonds and the various redevelopment and infrastructure improvement projects within the Six Flags Special
Service District.
The Parks Bond Land Acquisition Fund accounts for the issuance of the 2017 Parks Bonds and the costs
of acquiring park land within the County.
The Stadium Construction Fund accounts for the acquisition, construction, and equipping of the stadium
project.
The CMCEHA Stadium Construction Fund accounts for the acquisition, construction, and equipping of
the stadium project.
1BDebt Service Fund
The CMCEHA Debt Service Fund accounts for resources accumulated and payments made for principal
and interest on the governmental activity revenue bonds.
The BOC Debt Service Fund is utilized to account for the accumulation and disbursement of money
needed to comply with the interest and principal redemption requirements of the governmental fund type
general obligation bonds.
2BNONMAJOR BUSINESS-TYPE FUNDS
3BEnterprise Funds
The Enterprise Funds account for the activities that are usually self-sustaining, principally through user
charges for services rendered. The accounting records are maintained on the same basis as a commercial
business.
The Cobblestone Golf Course Fund accounts for the operation and maintenance of the Cobblestone Golf
Course.
The Public Transit System Fund accounts for the operation and maintenance of the local public transit
system and accounts for the monies received from the Federal Transit Authority.
The Solid Waste Disposal Fund accounts for the revenues and expenses relating to the disposal of solid
waste.
The Performing Arts Centre Fund accounts for the activities of the Performing Arts Centre.
The Galleria Specialty Shops Fund accounts for the activities of the Authority’s retail specialty shops
mall operations.
4BFiduciary Funds
5BAgency Funds
Agency Funds account for assets held by the County as an agent for individuals, private organizations,
other governments and other County departments.
89
Stadium CMECHA
Land Acquisition Construction Stadium Construction
Fund Fund Fund
Assets
Cash and cash equivalents $ 22,451,419 $ 93,738 $ 1,036,250 $ 2,392,633 $ 5,103 $ 5,304 $ 10,120,024 $ 3,576,152 $ 39,680,623
Restricted cash and cash equivalents 19,398,080 - - - - - - - - - - - - 19,398,080
Receivables:
Taxes 5,663,841 - - - - - - 3,456,978 9,120,819
Other 3,190,444 - - - - - - - - - - - 9,328 3,199,772
Due from other funds -2,461,133 1,954,364 - - - - - - 4,415,497
Due from other governments and agencies 2,959,365 472,966 - - - - - - 3,432,331
Advances to component unit 1,318,809 - - - - - - - 1,318,809
Inventories 52,657 - - - - - - - 52,657
Prepaid expenditures 216,695 139,555 - - - - - - 356,250
Total assets $ 57,712,443 $ 2,660,623 $ 1,036,250 $ 2,392,633 $ 5,103 $ 5,304 $ 10,120,024 $ 7,042,458 $ 80,974,838
Liabilities, Deferred Inflows of Resources,
and Fund Balances
Liabilities:
Accounts payable $ 2,252,194 $ 690,974 $ 13,929 875 $ - $ - $ - $ - $ 2,957,972
Accrued payroll 623,311 - - - - - - - 623,311
Due to other funds 1,180,836 - - - - - - - 1,180,836
Due to others 1,348,836 - - - - - - - 1,348,836
Due to other governments and agencies 166,456 193,928 - - - - - - 360,384
Matured bonds payable - - - - - - 3,310,000 - 3,310,000
Accrued interest payable - - - - - - 1,039,781 - 1,039,781
Unearned revenue 1,705,117 11,045 - - - - - - 1,716,162
Total liabilities 7,276,750 895,947 13,929 875 - - 4,349,781 - 12,537,282
Deferred inflows of resources
Unavailable revenues 185,698 - - - - - - 136,723 322,421
Total liabilities and deferred inflows
of resources 7,462,448 895,947 13,929 875 - - 4,349,781 136,723 12,859,703
Fund balances:
Nonspendable
Inventories and prepaid items 269,352 139,555 - - - - - - 408,907
Restricted for:
Debt service 9,327,946 - - - - - 5,770,243 6,905,735 22,003,924
Construction and capital outlay - - 1,022,321 2,391,758 5,103 5,304 - - 3,424,486
Special programs 39,549,463 - - - - - - - 39,549,463
Committed for:
Construction and capital outlay - 3,553,966 - - - - - - 3,553,966
Special programs 1,101,673 - - - - - - - 1,101,673
Assigned for:
Special programs 1,595 - - - - - - - 1,595
Unassigned (34) (1,928,845) - - - - - - (1,928,879)
Total fund balances 50,249,995 1,764,676 1,022,321 2,391,758 5,103 5,304 5,770,243 6,905,735 68,115,135
Total liabilities, deferred inflows
of resources, and fund balances $ 57,712,443 $ 2,660,623 $ 1,036,250 $ 2,392,633 $ 5,103 $ 5,304 $ 10,120,024 $ 7,042,458 $ 80,974,838
Cobb County, Georgia
All Nonmajor Governmental Funds
Combining Balance Sheet
September 30, 2018
Debt Service
Funds
BOC
Fund Fund
Governmental
Total Nonmajor
Fund
Parks Bond CMCEHA
Debt Service
Funds
Total Nonmajor
Special Revenue
Fund
SCRA
Facilities Construction
Public
90
CMCEHA
SCRA Parks Bond Stadium Stadium CMCEHA BOC
Construction Land Acquisition Construction Construction Debt Service Debt Service
Fund Fund Fund Fund Fund Fund
Revenues:
Taxes $ 24,309,070 $ - $ - $ - $ - $ - $ - $ 5,429,396 $ 29,738,466
License and permits - 600 - - - - - - 600
Intergovernmental 20,497,279 1,541,662 - - 2,500,000 - - - 24,538,941
Charges for services 37,800,024 - - - - - - 98,849 37,898,873
Contributions 1,230,000 - - - - 1,074,144 - - 2,304,144
Interest earned 471,360 9,489 10,273 171,415 31 30 132,209 53,184 847,991
Miscellaneous 1,557,120 888,697 - 119,632 - - - - 2,565,449
Total revenues 85,864,853 2,440,448 10,273 291,047 2,500,031 1,074,174 132,209 5,581,429 97,894,464
Expenditures:
Current:
General government 8,922,656 - - - - - - 200,665 9,123,321
Public safety 14,789,118 - - - - - - - 14,789,118
Public works 5,416,272 - - - - - - - 5,416,272
Health and welfare 3,165,384 - - - - - - - 3,165,384
Culture and recreation 19,137,432 - - - - - - - 19,137,432
Housing and development 6,321,705 - - - - - - - 6,321,705
Capital outlay - 11,014,913 3,736,716 25,219,701 - 3,574,144 - - 43,545,474
Debt Service:
Principal retirement 2,465,000 269,793 375,000 - - - 11,575,000 5,795,000 20,479,793
Interest and fiscal charges 1,818,813 167,889 332,448 - - - 17,492,632 1,180,256 20,992,038
Total expenditures 62,036,380 11,452,595 4,444,164 25,219,701 - 3,574,144 29,067,632 7,175,921 142,970,537
Excess (deficiency) of revenues
over (under) expenditures 23,828,473 (9,012,147) (4,433,891) (24,928,654) 2,500,031 (2,499,970) (28,935,423) (1,594,492) (45,076,073)
Other financing sources (uses):
Transfers in 14,996,812 11,408,153 708,865 - - 2,500,000 29,005,758 - 58,619,588
Transfers out (30,109,222) (2,109,712) - - (2,500,000) - - - (34,718,934)
Proceeds from sale of capital assets 9,495 8,799 - - - - - - 18,294
Total other financing sources (uses) (15,102,915) 9,307,240 708,865 - (2,500,000) 2,500,000 29,005,758 - 23,918,948
Net change in fund balances 8,725,558 295,093 (3,725,026) (24,928,654) 31 30 70,335 (1,594,492) (21,157,125)
Fund balances at beginning of year 41,524,437 1,469,583 4,747,347 27,320,412 5,072 5,274 5,699,908 8,500,227 89,272,260
Fund balances at end of year $ 50,249,995 $ 1,764,676 $ 1,022,321 $ 2,391,758 $ 5,103 $ 5,304 $ 5,770,243 $ 6,905,735 $ 68,115,135
Funds
Total Nonmajor
Special Revenue
Funds
Public
Facilities
Fund
Cobb County, Georgia
All Nonmajor Governmental Funds
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
For the Fiscal Year Ended September 30, 2018
Total Nonmajor
Governmental
91
Law Community Housing & Urban Parking Deck
Library Services Development Hotel/Motel Emergency Facility
Fund Fund Grant Fund Grant Fund Tax Fund 911 Fund Fund
Assets
Cash and cash equivalents $ 48,861 $ 6,504 $ 1,131,110 $ 191,208 $ - $ 3,717,423
Restricted cash and cash equivalents - - - - - -
Receivables:
Taxes and penalties - - - - - -
Other -27,700 - - 80,483 - - 1,972,369
Due from other funds -14,945 - - 199,541 - 551,972 -
Due from other governments and agencies - - 129,635 2,038,869 648,243 - - -
Advances to others - - - - - -
Inventories - - - - - -
Prepaid expenditures - - - - 3,758 - - - 37,346
Total assets $ 91,506 $ 136,139 $ 3,453,761 $ 839,451 $ 551,972 $ 5,727,138
Liabilities, Deferred Inflows of
Resources, and Fund Balances
Liabilities:
Accounts payable $ -155 $ -131,739 $ -591,851 $ - 547,314 $ - - $ -46,770
Accrued payroll 2,331 - 16,456 - - 140,189
Due to other funds - 4,434 31,390 - 551,972 -
Due to others - - - - - 2,958
Due to other governments
and agencies - - 61,090 - - -
Unearned revenue - - 163,663 - - -
Total liabilities 2,486 136,173 864,450 547,314 551,972 189,917
Deferred Inflows of Resources
Unavailable revenues - - - - - -
Total Liabilities and Deferred
Inflows of Resources 2,486 136,173 864,450 547,314 551,972 189,917
Fund balances:
Nonspendable
Inventories and prepaid items - - 3,758 - - 37,346
Restricted for:
Debt service - - - - - -
Special programs 89,020 - 2,585,553 292,137 - 5,499,875
Committed for:
Special programs - - - - - -
Assigned for:
Special Programs - - - - - -
Unassigned - (34) - - - -
Total fund balances 89,020 (34) 2,589,311 292,137 - 5,537,221
Total Liabilities, Deferred Inflows
of Resources, and Fund Balances $ 91,506 $ 136,139 $ 3,453,761 $ 839,451 $ 551,972 $ 5,727,138 $
September 30, 2018
Combining Balance Sheet
Nonmajor Governmental Funds - Special Revenue Funds
Cobb County, Georgia
92
Parking Deck Streetlight Cumberland
Facility 800 MHz District Special Service CMCEHA
Fund Fund Fund District 2 Fund Fund Fund
$ 99,118 $ 13,783 $ 4,315,484 $ 249,872 $ 3,113,305 $ 3,599,931 $ 1,054,399 $ 4,910,421 $ 22,451,419
- - - - - - 19,398,080 - 19,398,080
- - - 811,244 - 4,852,597 - - 5,663,841
22,166 - 270,931 - - - 816,795 - 3,190,444
- - - - - - - 1,694,675 - 2,461,133
- - - - - - - 142,618 - 2,959,365
- - - - - - 1,318,809 - 1,318,809
- - - - - - 52,657 - 52,657
- - - - - - - 175,591 - 216,695
$ 121,284 $ 13,783 $ 4,586,415 $ 1,061,116 $ 3,113,305 $ 8,452,528 $ 24,653,624 $ 4,910,421 $ 57,712,443
$ -6,552 $ - - $ -162,045 $ - - $ - - $ - - $ -765,768 $ - - $ -2,252,194
35 - 3,418 - - - 460,882 - 623,311
- - - - - - 593,040 - 1,180,836
- - 916 - - - 1,344,962 - 1,348,836
- - - - - - 105,366 - 166,456
- - - - - - 1,541,454 - 1,705,117
6,587 - 166,379 - - - 4,811,472 - 7,276,750
- - - 12,640 - 173,058 - - 185,698
6,587 - 166,379 12,640 - 173,058 4,811,472 - 7,462,448
- - - - - - 228,248 - 269,352
- - - 1,048,476 - 8,279,470 - - 9,327,946
- 13,783 4,420,036 - 3,113,305 - 18,625,333 4,910,421 39,549,463
113,102 - - - - - 988,571 - 1,101,673
1,595 - - - - - - - 1,595
- - - - - - - - (34)
114,697 13,783 4,420,036 1,048,476 3,113,305 8,279,470 19,842,152 4,910,421 50,249,995
$ 121,284 $ 13,783 $ 4,586,415 $ 1,061,116 $ 3,113,305 $ 8,452,528 $ 24,653,624 $ 4,910,421 $ 57,712,443
Stadium
Capital
Maintenance
District Fund
Special Revenue
Total Nonmajor
FundsDistrict 1 Fund
Cumberland
Special Service
Six Flags
Special Service
93
Law Community Parking Deck
Library Services Hotel/Motel Emergency Facility
Fund Fund Grant Fund Tax Fund 911 Fund Fund
Revenues:
Taxes $ - - $ - - $ - - $ - - $ - 16,861,644 $ - -
Intergovernmental - - -768,128 -11,861,057 -5,802,332 - - - -
Charges for services 544,182 - 8,215 - - 13,886,600
Contributions - - - - - -
Interest earned 435 - 42,191 1,090 - 36,181
Miscellaneous 3,820 - 1,096,432 449,571 - 6,143
Total revenues 548,437 768,128 13,007,895 6,252,993 16,861,644 13,928,924
Expenditures:
Current:
General government 493,024 - 8,429,632 - - -
Public safety - - 2,057,409 - - 12,731,709
Public works - - 105,860 - - -
Health and welfare - 735,904 2,429,480 - - -
Culture and recreation - - 282,057 - 40,000 -
Housing and development - - 107,649 6,214,056 - -
Debt service:
Principal retirement - - - - 2,015,000 -
Interest and fiscal charges - - - - 1,525,875 -
Total expenditures 493,024 735,904 13,412,087 6,214,056 3,580,875 12,731,709
Excess (deficiency) of revenues
over (under) expenditures 55,413 32,224 (404,192) 38,937 13,280,769 1,197,215
Other financing sources (uses):
Transfers in - - 2,294,999 148,974 - -
Transfers out (50,000) (32,189) (74,599) (148,975) (13,280,769) -
Proceeds for sale of capital assets 8,463 - - - - 1,032
Total other financing
sources (uses) (41,537) (32,189) 2,220,400 (1) (13,280,769) 1,032
Net change in fund balances 13,876 35 1,816,208 38,936 - 1,198,247
Fund balances at beginning of year 75,144 (69) 773,103 253,201 - 4,338,974
Fund balances at end of year $ 89,020 $ (34) $ 2,589,311 $ 292,137 $ - $ 5,537,221
Housing & Urban
Development
Cobb County, Georgia
For the Fiscal Year Ended September 30, 2018
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Nonmajor Governmental Funds - Special Revenue Funds
Grant Fund
94
Parking Deck Streetlight Six Flags Special
Facility 800 MHz District Service District
Fund Fund Fund Fund Fund
$ - - $ - - $ - - $ - 919,418 $ - - $ - 6,528,008 $ - - $ - - $ - 24,309,070
- - - - - - - - - - - - -2,065,762 - - -20,497,279
695,722 - 5,913,380 - 3,708,243 - 13,043,682 - 37,800,024
- - - - - - - 1,230,000 1,230,000
619 145 39,224 5,843 32,302 41,282 225,715 46,333 471,360
1,154 - - - - - - - 1,557,120
697,495 145 5,952,604 925,261 3,740,545 6,569,290 15,335,159 1,276,333 85,864,853
- - - - - - - - 8,922,656
- - - - - - - - 14,789,118
271,463 - 5,038,949 - - - - - 5,416,272
- - - - - - - - 3,165,384
- - - - - - 18,815,375 - 19,137,432
- - - - - - - - 6,321,705
450,000 - - - - - - - 2,465,000
292,938 - - - - - - - 1,818,813
1,014,401 - 5,038,949 - - - 18,815,375 - 62,036,380
(316,906) 145 913,655 925,261 3,740,545 6,569,290 (3,480,216) 1,276,333 23,828,473
329,829 - - - - - 10,993,010 1,230,000 14,996,812
- - (25,468) (708,865) (3,616,729) (5,150,000) (7,021,628) - (30,109,222)
- - - - - - - - 9,495
329,829 - (25,468) (708,865) (3,616,729) (5,150,000) 3,971,382 1,230,000 (15,102,915)
12,923 145 888,187 216,396 123,816 1,419,290 491,166 2,506,333 8,725,558
101,774 13,638 3,531,849 832,080 2,989,489 6,860,180 19,350,986 2,404,088 41,524,437
$ 114,697 $ 13,783 $ 4,420,036 $ 1,048,476 $ 3,113,305 $ 8,279,470 $ 19,842,152 $ 4,910,421 $ 50,249,995
Total Nonmajor
Special RevenueMaintenanceService District 1
Cumberland Cumberland Stadium
Funds
Special
CMCEHA
Special
FundFund
Service District 2
Capital
Fund
95
Cobb County, Georgia
CMCEHA Debt Service Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended September 30, 2018
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Revenues:
Investment earnings $ 57,120 $ 62,120 $ 132,209 $ 70,089
Total revenues $ 57,120 $ 62,120 $ 132,209 $ 70,089
Expenditures:
Debt service:
Principal retirement $ 4,130,000 $ 4,135,000 $ 11,575,000 $ (7,440,000)
Interest and fiscal charges 2,453,846 2,453,846 17,492,632 (15,038,786)
Total expenditures $ 6,583,846 $ 6,588,846 $ 29,067,632 $ (22,478,786)
Excess (deficiency) of revenues over
expenditures $ (6,526,726) $ (6,526,726) $ (28,935,423) $ (22,408,697)
Other financing sources (uses):
Transfers in $ 6,582,625 $ 6,582,625 $ 29,005,758 $ 22,423,133
Total other financing sources (uses) $ 6,582,625 $ 6,582,625 $ 29,005,758 $ 22,423,133
Net change in fund balance $ 55,899 $ 55,899 $ 70,335 $ 14,436
Fund balance at beginning of year - GAAP basis 5,699,908
Fund balance at end of year - GAAP basis $ 5,770,243
Budgeted Amounts
96
Cobb County, Georgia
BOC Debt Service Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended September 30, 2018
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Revenues:
Taxes $ 4,896,972 $ 4,896,972 $ 5,429,396 $ 532,424
Charges for services - - 98,849 98,849
Interest earned - - 53,184 53,184
Total revenues $ 4,896,972 $ 4,896,972 $ 5,581,429 $ 684,457
Expenditures:
Current:
Operating expenditures $ 215,413 $ 215,413 $ 200,665 $ 14,748
Debt service:
Principal retirement 5,795,000 5,795,000 5,795,000 -
Interest and fiscal charges 1,185,257 1,185,257 1,180,256 5,001
Total expenditures $ 7,195,670 $ 7,195,670 $ 7,175,921 $ 19,749
Excess (deficiency) of revenues over
expenditures $ (2,298,698) $ (2,298,698) $ (1,594,492) $ 704,206
Net change in fund balance $ (2,298,698) $ (2,298,698) $ (1,594,492) $ 704,206
Fund balance at beginning of year - GAAP basis 8,500,227
Fund balance at end of year - GAAP basis $ 6,905,735
Budgeted Amounts
97
Cobb County, Georgia
Law Library Special Revenue Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual (Budgetary Basis)
For the Fiscal Year Ended September 30, 2018
Original Final Actual
Revenues:
Charges for services $ 565,688 $ 565,688 $ 544,182 $ (21,506)
Interest earned 100 100 435 335
Miscellaneous 5,000 5,000 3,820 (1,180)
Total revenues $ 570,788 $ 570,788 $ 548,437 $ (22,351)
Expenditures:
Current:
Personal services $ 187,671 $ 209,925 $ 209,925 $ -
Operating expenditures 383,117 311,948 284,074 27,874
Total expenditures $ 570,788 $ 521,873 $ 493,999 $ 27,874
Excess of revenues over
expenditures $ - $ 48,915 $ 54,438 $ 5,523
Other financing sources (uses):
Transfers out - (50,000) (50,000) -
Proceeds from sale of capital assets - - 8,463 8,463
Total other financing sources (uses) $ - $ (50,000) $ (41,537) $ 8,463
Net change in fund balance $ - $ (1,085) $ 12,901 $ 13,986
Fund balance at beginning of year - GAAP basis 75,144
Fund balance at end of year - budgetary basis $ 88,045
Reconciliation to GAAP basis:
Elimination of encumbrances outstanding
at end of year -975
Fund balance at end of year-GAAP basis $ 89,020
(Negative)
Budgeted Amounts
Variance with
Final Budget -
Positive
98
Cobb County, Georgia
Community Services Special Revenue Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended September 30, 2018
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Revenues:
Intergovernmental $ 691,798 $ 805,389 $ 768,128 $ (37,261)
Total revenues $ 691,798 $ 805,389 $ 768,128 $ (37,261)
Expenditures:
Current:
Operating expenditures $ 691,798 $ 805,389 $ 735,904 $ 69,485
Total expenditures $ 691,798 $ 805,389 $ 735,904 $ 69,485
Excess of revenues over expenditures $ - $ - $ 32,224 $ 32,224
Other financing sources (uses):
Transfers out $ - $ - $ (32,189) $ (32,189)
Net change in fund balance $ - $ - $ 35 $ 35
Fund balance at beginning of year - GAAP basis (69)
Fund balance (deficit) at end of year - GAAP basis $ (34)
Budgeted Amounts
99
Cobb County, Georgia
Hotel/Motel Tax Special Revenue Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended September 30, 2018
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Revenues:
Taxes $ 14,500,000 $ 16,885,617 $ 16,861,644 $ (23,973)
Total revenues $ 14,500,000 $ 16,885,617 $ 16,861,644 $ (23,973)
Expenditures:
Current:
Operating expenditures $ 9,259,125 $ 10,602,500 $ 40,000 $ 10,562,500
Debt service:
Principal retirement 2,015,000 2,015,000 2,015,000 -
Interest and fiscal charges 1,525,875 1,525,875 1,525,875 -
Total expenditures $ 12,800,000 $ 14,143,375 $ 3,580,875 $ 10,562,500
Excess of revenues over expenditures $ 1,700,000 $ 2,742,242 $ 13,280,769 $ 10,538,527
Other financing sources (uses):
Transfers out $ (1,700,000) $ (2,742,242) $ (13,280,769) $ (10,538,527)
Total other financing sources (uses) $ (1,700,000) $ (2,742,242) $ (13,280,769) $ (10,538,527)
Net change in fund balance $ - $ - $ - $ -
Fund balance at beginning of year - GAAP basis -
Fund balance at end of year - GAAP basis $ -
Budgeted Amounts
100
Cobb County, Georgia
Emergency 911 Special Revenue Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual (Budgetary Basis)
For the Fiscal Year Ended September 30, 2018
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Revenues:
Charges for services $ 11,875,000 $ 11,875,000 $ 13,886,600 $ 2,011,600
Interest earned 3,000 3,000 36,181 33,181
Miscellaneous 7,500 7,500 6,143 (1,357)
Total revenues $ 11,885,500 $ 11,885,500 $ 13,928,924 $ 2,043,424
Expenditures:
Current:
Personnel services $ 9,741,630 $ 9,783,150 $ 9,783,150 $ -
Operating expenditures 2,430,551 2,695,845 2,695,820 25
Capital outlay - 284,671 284,671 -
Total expenditures $ 12,172,181 $ 12,763,666 $ 12,763,641 $ 25
Excess (deficiency) of revenues over
(under) expenditures $ (286,681) $ (878,166) $ 1,165,283 $ 2,043,449
Other financing sources (uses):
Proceeds from sale of capital assets $ - $ - $ 1,032 $ -
Total other financing sources (uses) $ - $ - $ 1,032 $ -
Net change in fund balance $ (286,681) $ (878,166) $ 1,166,315 $ 2,044,481
Fund balance at beginning of year - GAAP basis 4,338,974
Fund balance at end of year - budgetary basis $ 5,505,289
Reconciliation to GAAP basis:
Elimination of encumbrances outstanding at
end of year 31,932
Fund balance at end of year - GAAP basis $ 5,537,221
Budgeted Amounts
101
Cobb County, Georgia
Parking Deck Facility Special Revenue Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual (Budgetary Basis)
For the Fiscal Year Ended September 30, 2018
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Revenues:
Charges for services $ 674,000 $ 674,000 $ 695,722 $ 21,722
Interest earned - - 619 619
Miscellaneous 1,500 1,500 1,154 (346)
Total revenues $ 675,500 $ 675,500 $ 697,495 $ 21,995
Expenditures:
Current:
Personnel services $ 83,546 $ 82,243 $ 43,598 $ 38,645
Operating expenditures 178,845 184,287 184,287 -
Capital outlay - 46,165 46,165 -
Debt service:
Principal retirement 450,000 450,000 450,000 -
Interest and fiscal charges 292,938 292,938 292,938 -
Total expenditures $ 1,005,329 $ 1,055,633 $ 1,016,988 $ 38,645
Excess (deficiency) of revenues over
(under) expenditures $ (329,829) $ (380,133) $ (319,493) $ 60,640
Other financing sources (uses):
Transfers in $ 329,829 $ 329,829 $ 329,829 $ -
Total other financing sources (uses) $ 329,829 $ 329,829 $ 329,829 $ -
Net change in fund balance $ - $ (50,304) $ 10,336 $ 60,640
Fund balance at beginning of year - GAAP basis 101,774
Fund balance at end of year - budgetary basis $ 112,110
Reconciliation to GAAP basis:
Elimination of encumbrances outstanding at
end of year 2,587
Fund balance at end of year - GAAP basis $ 114,697
Budgeted Amounts
102
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Revenues:
Interest earned $ - $ - $ 145 $ 145
Total revenues $ - $ - $ 145 $ 145
Excess (deficiency) of revenues over
(under) expenditures $ - $ - $ 145 $ 145
Net change in fund balance $ - $ - $ 145 $ 145
Fund balance at beginning of year - GAAP basis 13,638
Fund balance at end of year - GAAP basis $ 13,783
Budgeted Amounts
Cobb County, Georgia
800 MHz Special Revenue Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended September 30, 2018
103
Cobb County, Georgia
Street Light District Special Revenue Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended September 30, 2018
Original Final Actual
Revenues:
Charges for services $ 5,931,597 $ 5,931,597 $ 5,913,380 $ (18,217)
Interest earned - - 39,224 39,224
Total revenues $ 5,931,597 $ 5,931,597 $ 5,952,604 $ 21,007
Expenditures:
Current:
Personal services $ 264,776 $ 307,276 $ 205,267 $ 102,009
Operating expenditures 5,639,821 7,997,321 4,833,682 3,163,639
Capital outlay - 24,826 - 24,826
Total expenditures $ 5,904,597 $ 8,329,423 $ 5,038,949 $ 3,290,474
Excess of revenues over
expenditures $ 27,000 $ (2,397,826) $ 913,655 $ 3,311,481
Other financing sources (uses):
Transfers out $ (27,000) $ (27,000) $ (25,468) $ 1,532
Total other financing sources (uses) $ (27,000) $ (27,000) $ (25,468) $ 1,532
Net change in fund balance $ - $ (2,424,826) $ 888,187 $ 3,313,013
Fund balance at beginning of year - GAAP basis 3,531,849
Fund balance at end of year-GAAP basis $ 4,420,036
Variance with
Final Budget -
Budgeted Amounts Positive
(Negative)
104
Cobb County, Georgia
Six Flags Special Service District Special Revenue Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended September 30, 2018
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Revenues:
Taxes $ 703,248 $ 703,248 $ 919,418 $ 216,170
Interest earned - - 5,843 5,843
Total revenues $ 703,248 $ 703,248 $ 925,261 $ 222,013
Excess (deficiency) of revenues over
expenditures $ 703,248 $ 703,248 $ 925,261 $ 222,013
Other financing sources (uses):
Transfers out $ - $ - (708,865) (708,865)
Total other financing sources (uses) $ - $ - $ (708,865) $ (708,865)
Net change in fund balance $ 703,248 $ 703,248 $ 216,396 $ (486,852)
Fund balance at beginning of year - GAAP basis 832,080
Fund balance at end of year - GAAP basis $ 1,048,476
Budgeted Amounts
105
Cobb County, Georgia
Cumberland Special Service District 1 Special Revenue Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended September 30, 2018
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Revenues:
Charges for services $ 3,600,000 $ 3,600,000 $ 3,708,243 $ 108,243
Interest earned - - 32,302 32,302
Total revenues $ 3,600,000 $ 3,600,000 $ 3,740,545 $ 140,545
Excess (deficiency) of revenues over
expenditures $ 3,600,000 $ 3,600,000 $ 3,740,545 $ 140,545
Other financing sources (uses):
Transfers out $ (2,534,130) $ (3,616,729) $ (3,616,729) $ -
Total other financing sources (uses) $ (2,534,130) $ (3,616,729) $ (3,616,729) $ -
Net change in fund balance $ 1,065,870 $ (16,729) $ 123,816 $ 140,545
Fund balance at beginning of year - GAAP basis 2,989,489
Fund balance at end of year - GAAP basis $ 3,113,305
Budgeted Amounts
106
Cobb County, Georgia
Cumberland Special Service District 2 Special Revenue Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended September 30, 2018
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Revenues:
Taxes $ 5,150,000 $ 5,150,000 $ 6,528,008 $ 1,378,008
Interest earned - - 41,282 41,282
Total revenues $ 5,150,000 $ 5,150,000 $ 6,569,290 $ 1,419,290
Excess (deficiency) of revenues over
expenditures $ 5,150,000 $ 5,150,000 $ 6,569,290 $ 1,419,290
Other financing sources (uses):
Transfers out (5,150,000) (5,150,000) (5,150,000) -
Total other financing sources (uses) $ (5,150,000) $ (5,150,000) $ (5,150,000) $ -
Net change in fund balance $ - $ - $ 1,419,290 $ 1,419,290
Fund balance at beginning of year - GAAP basis 6,860,180
Fund balance at end of year - GAAP basis $ 8,279,470
Budgeted Amounts
107
Cobb County, Georgia
CMCEHA Special Revenue Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended September 30, 2018
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Revenues:
Intergovernmental $ 1,661,575 $ 2,386,575 $ 2,065,762 $ (320,813)
Charges for services 12,029,210 12,304,210 13,043,682 739,472
Interest earned 65,024 65,024 225,715 160,691
Total revenues $ 13,755,809 $ 14,755,809 $ 15,335,159 $ 579,350
Expenditures:
Current:
Personnel services $ 6,174,424 $ 5,694,489 $ 5,674,286 $ 20,203
Operating expenditures 10,362,007 11,116,942 11,099,497 17,445
Contractual expenditures 1,865,926 2,590,926 2,041,592 549,334
Total expenditures $ 18,402,357 $ 19,402,357 $ 18,815,375 $ 586,982
Excess (deficiency) of revenues over
expenditures $ (4,646,548) $ (4,646,548) $ (3,480,216) $ 1,166,332
Other financing sources (uses):
Transfers in $ 9,948,450 $ 9,948,450 $ 10,993,010 $ 1,044,560
Transfers out (7,084,045) (7,084,045) (7,021,628) 62,417
Total other financing sources (uses) $ 2,864,405 $ 2,864,405 $ 3,971,382 $ 1,106,977
Net change in fund balance $ (1,782,143) $ (1,782,143) $ 491,166 $ 2,273,309
Fund balance at beginning of year - GAAP basis 19,350,986
Fund balance at end of year - GAAP basis $ 19,842,152
Budgeted Amounts
108
Cobb County, Georgia
Stadium Capital Maintenance Special Revenue Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended September 30, 2018
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Revenues:
Contributions $ 1,230,000 $ 1,230,000 $ 1,230,000 $ -
Interest earned - - 46,333 46,333
Total revenues $ 1,230,000 $ 1,230,000 $ 1,276,333 $ 46,333
Excess (deficiency) of revenues over
expenditures $ 1,230,000 $ 1,230,000 $ 1,276,333 $ 46,333
Other financing sources (uses):
Transfers in $ 1,230,000 $ 1,230,000 $ 1,230,000 $ -
Total other financing sources (uses) $ 1,230,000 $ 1,230,000 $ 1,230,000 $ -
Net change in fund balance $ 2,460,000 $ 2,460,000 $ 2,506,333 $ 46,333
Fund balance at beginning of year - GAAP basis 2,404,088
Fund balance at end of year - GAAP basis $ 4,910,421
Budgeted Amounts
109
Cobb County, Georgia
Nonmajor Business-Type Enterprise Funds
Combining Statement of Net Position
September 30, 2018
Cobblestone
Golf Course
Fund
Assets and Deferred Outflows of Resources
Current assets:
Cash $ 177,791 $ 75,330 $ 277,186 $ 995,677 $ 493,238 $ 2,019,222
Restricted cash and cash equivalents - - - 3,096,461 46,146 3,142,607
Receivables:
Accounts, net - - - 179,978 26,553 206,531
Other 11,197 1,240 86,228 - - 98,665
Due from other funds - 3,500,014 - - - 3,500,014
Due from others - - - 20,861 - 20,861
Due from other governments and agencies - 8,967,701 - - - 8,967,701
Inventories - - - 29,911 - 29,911
Prepaid items - - - 108,000 - 108,000
Total current assets 188,988 12,544,285 363,414 4,430,888 565,937 18,093,512
Noncurrent assets:
Property, plant and equipment:
Capital assets not being depreciated 5,453,615 12,032,278 3,778,386 198,750 1,805,485 23,268,514
Capital assets being depreciated, net 706,305 51,567,892 2,281,745 78,645,794 1,279,161 134,480,897
Net property, plant and equipment 6,159,920 63,600,170 6,060,131 78,844,544 3,084,646 157,749,411
Total noncurrent assets 6,159,920 63,600,170 6,060,131 78,844,544 3,084,646 157,749,411
Total assets 6,348,908 76,144,455 6,423,545 83,275,432 3,650,583 175,842,923
Deferred Outflows of Resources:
Deferred outflows of resources related to OPEB - 36,302 33,560 - - 69,862
Deferred outflows of resources related to pension - 223,357 70,534 - - 293,891
Total deferred outflows of resources - 259,659 104,094 - - 363,753
Total assets and deferred outflows of resources $ 6,348,908 $ 76,404,114 $ 6,527,639 $ 83,275,432 $ 3,650,583 $ 176,206,676
Continued on next page.
Solid Waste
Disposal
Fund
Performing Arts
Centre Fund
Public
Transit System
Fund Totals
Galleria
Specialty Shops
Fund
110
Cobb County, Georgia
Nonmajor Business-Type Enterprise Funds
Combining Statement of Net Position
Cobblestone
Golf Course
Fund
Liabilities and Deferred Inflows of Resources
Liabilities:
Current liabilities (payable from current assets):
Accounts payable $ 64,662 $ 12,221,304 $ 41,381 $ 562,918 $ 12,293 $ 12,902,558
Accrued payroll - 7,968 4,631 593,332 - 605,931
Due to other funds - - - 117,104 20,259 137,363
Due to others 1,684 - - - - 1,684
Customer deposits - - - 2,036,226 46,146 2,082,372
Due to other governments and agencies 11,457 1,000 - - - 12,457
Accrued interest payable - - - 84,528 - 84,528
Unearned revenues 33,068 - - 1,109,651 9,000 1,151,719
Current portion of revenue bonds - - - 555,000 - 555,000
Current portion of compensated absences - 13,958 15,741 60,614 - 90,313
Current portion of closure and post closure care - - 443,303 - - 443,303
Total current liabilities 110,871 12,244,230 505,056 5,119,373 87,698 18,067,228
Long-term liabilities:
Revenue bonds (net of current portion and
bond premium) - - - 5,315,000 - 5,315,000
Compensated absences (net of current portion) - - 31,211 15,153 - 46,364
Closure and postclosure care (net of current portion) - - 22,431,543 - - 22,431,543
Unearned revenue - - - 5,200,000 - 5,200,000
Net OPEB liability - 268,569 248,286 - - 516,855
Net pension liability - 1,201,477 379,414 - - 1,580,891
Advances from other funds 2,981,022 - - - - 2,981,022
Total long-term liabilities 2,981,022 1,470,046 23,090,454 10,530,153 - 38,071,675
Total liabilities 3,091,893 13,714,276 23,595,510 15,649,526 87,698 56,138,903
Deferred inflows of resources
Deferred inflow related to OPEB - 12,814 11,846 - - 24,660
Deferred inflow related to pension - 43,867 13,852 - - 57,719
Total deferred inflows of resources - 56,681 25,698 - - 82,379
Total liabilities and deferred inflows of resources 3,091,893 13,770,957 23,621,208 15,649,526 87,698 56,221,282
Net Position:
Net investment in capital assets 6,159,920 63,581,329 6,060,131 72,974,544 3,084,646 151,860,570
Restricted for:
Debt service - - - 975,707 - 975,707
Unrestricted (2,902,905) (948,172) (23,153,700) (6,324,345) 478,239 (32,850,883)
Total net position $ 3,257,015 $ 62,633,157 $ (17,093,569) $ 67,625,906 $ 3,562,885 $ 119,985,394
Continued from preceding page.
Solid Waste
Totals
September 30, 2018
Public
Transit System
Fund
Disposal
Fund
Specialty Shops
Fund
Galleria
Performing Arts
Centre Fund
111
Cobb County, Georgia
Nonmajor Business-Type Enterprise Funds
Combining Statement of Revenues, Expenses and Changes in Net Position
For the Fiscal Year Ended September 30, 2018
Cobblestone
Golf Course
Fund Totals
Operating revenues:
Charges for services $ 1,687,920 $ 4,198,174 $ 550,942 $ 9,733,543 $ 518,232 $ 16,688,811
Miscellaneous income - 72,231 - - - 72,231
Total operating revenues 1,687,920 4,270,405 550,942 9,733,543 518,232 16,761,042
Operating expenses:
Personnel services - 714,783 313,645 3,076,876 261,816 4,367,120
Other operating expenses 1,661,939 21,364,304 22,974 4,639,033 551,345 28,239,595
Total operating expenses 1,661,939 22,079,087 336,619 7,715,909 813,161 32,606,715
Operating income (loss)
before depreciation 25,981 (17,808,682) 214,323 2,017,634 (294,929) (15,845,673)
Less depreciation (32,548) (4,924,831) (399,773) (2,154,007) (191,089) (7,702,248)
Operating income (loss) (6,567) (22,733,513) (185,450) (136,373) (486,018) (23,547,921)
Nonoperating revenues (expenses):
Interest income 2 30,236 2,731 161 - 33,130
Interest and fiscal charges - - - (171,056) - (171,056)
Gain (loss) on sale of capital assets - 4,440 - - - 4,440
Total nonoperating revenues (expenses) 2 34,676 2,731 (170,895) - (133,486)
Net income (loss) before transfers
and capital contributions (6,565) (22,698,837) (182,719) (307,268) (486,018) (23,681,407)
Capital contributions - 12,008,311 - - - 12,008,311
Transfers:
Transfers in - 14,466,160 572,421 - 500,000 15,538,581
Transfers out (3,361) (647,577) - - - (650,938)
Total transfers (3,361) 13,818,583 572,421 - 500,000 14,887,643
Change in net position (9,926) 3,128,057 389,702 (307,268) 13,982 3,214,547
Total net position - beginning, before restatement 3,266,941 59,748,491 (17,258,261) 67,933,174 3,548,903 117,239,248
Restatement - (243,391) (225,010) - - (468,401)
Total net position - beginning, after restatement 3,266,941 59,505,100 (17,483,271) 67,933,174 3,548,903 116,770,847
Total net position - ending $ 3,257,015 $ 62,633,157 $ (17,093,569) $ 67,625,906 $ 3,562,885 $ 119,985,394
Centre Fund
Public
Transit System
Fund
Galleria
Specialty Shops
Fund
Solid Waste
Disposal
Fund
Performing Arts
112
Nonmajor Business-Type Enterprise Funds
Combining Statement of Cash Flows
For the Fiscal Year Ended September 30, 2018
Cobblestone
Golf Course
Fund Totals
Cash flows from operating activities:
Cash received from customers $ 1,644,426 $ 4,310,482 $ 481,944 $ 9,559,419 $ 519,285 $ 16,515,556
Cash payments for goods and services (1,745,394) (13,606,804) (477,286) (4,544,275) (565,651) (20,939,410)
Cash payments for employee services
and fringe benefits - (719,837) (303,971) (2,833,711) (261,816) (4,119,335)
Net cash from (to) operating activities (100,968) (10,016,159) (299,313) 2,181,433 (308,182) (8,543,189)
Cash flows from noncapital financing activities:
Transfers in - 14,466,160 572,421 - 500,000 15,538,581
Transfers out (3,361) (647,577) - - - (650,938)
Net cash from (to) noncapital
financing activities (3,361) 13,818,583 572,421 - 500,000 14,887,643
Cash flows from capital and
related financing activities:
Proceeds from sale of capital assets - 4,440 - - - 4,440
Payments for capital acquisitions - (10,833,026) - (702,181) (74,726) (11,609,933)
Bond principal payments - - - (535,000) - (535,000)
Capital contributions - 7,062,492 - - - 7,062,492
Interest and fiscal charges - - - (178,760) - (178,760)
Net cash from (to) capital and related
financing activities - (3,766,094) - (1,415,941) (74,726) (5,256,761)
Cash flows from investing activities:
Interest received 2 30,236 2,731 161 - 33,130
Net cash from investing activities 2 30,236 2,731 161 - 33,130
Net increase (decrease) in cash and
cash equivalents (104,327) 66,566 275,839 765,653 117,092 1,120,823
Cash and cash equivalents at beginning of year 282,118 8,764 1,347 3,326,485 422,292 4,041,006
Cash and cash equivalents at end of year $ 177,791 $ 75,330 $ 277,186 $ 4,092,138 $ 539,384 $ 5,161,829
Continued on next page.
Solid Waste
Disposal
Fund
Performing Arts
Centre Fund
Cobb County, Georgia
Public
Transit System
Fund Fund
Specialty Shops
Galleria
113
Cobb County, Georgia
Nonmajor Business-Type Enterprise Funds
Combining Statement of Cash Flows
For the Fiscal Year Ended September 30, 2018
Totals
Reconciliation of operating income (loss)
to net cash from operating activities:
Operating income (loss) $ (6,567) $ (22,733,513) $ (185,450) $ (136,373) $ (486,018) $ (23,547,921)
Adjustments to reconcile operating income
(loss) to net cash from operating activities:
Depreciation 32,548 4,924,831 399,773 2,154,007 191,089 7,702,248
Change in assets and liabilities:
Decrease (increase) in accounts receivables - - - (133,086) 433 (132,653)
Decrease (increase) in other receivables (4,941) 40,077 (68,998) - - (33,862)
Decrease (increase) in due from other funds - (700,014) - - - (700,014)
Decrease (increase) in due from others - - - 6,128 - 6,128
Decrease (increase) in inventories - - - 4,392 - 4,392
Decrease (increase) in deferred outflows related to OPEB - (36,302) (33,560) - - (69,862)
Decrease (increase) in deferred outflows related to pension - (149,359) (48,334) - - (197,693)
Decrease (increase) in prepaid items 3,272 - - (46,950) - (43,678)
Increase (decrease) in accounts payable (49,044) 8,807,461 (11,009) 84,395 (25,505) 8,806,298
Increase (decrease) in accrued payroll - (1,407) (7,469) 258,397 - 249,521
Increase (decrease) in accrued compensated absences - 3,233 2,017 (15,232) - (9,982)
Increase (decrease) in due to other funds - (349,947) - - 11,199 (338,748)
Increase (decrease) in due to others (7,900) - - 46,793 - 38,893
Increase (decrease) in deposits payable - - - 721,196 (4,380) 716,816
Increase (decrease) in due to
other governments (29,783) - - - - (29,783)
Increase (decrease) in closure/post closure care - - (443,303) - - (443,303)
Increase (decrease) in deferred inflows related to OPEB - 12,814 11,846 - - 24,660
Increase (decrease) in deferred inflows related to pension - 13,709 4,805 - - 18,514
Increase (decrease) in unearned revenues (38,553) - - (762,234) 5,000 (795,787)
Increase (decrease) in net OPEB liability - 25,178 23,274 - - 48,452
Increase (decrease) in net pension liability - 127,080 57,095 - - 184,175
Total adjustments (94,401) 12,717,354 (113,863) 2,317,806 177,836 15,004,732
Net cash provided (used) by operating activities $ (100,968) $ (10,016,159) $ (299,313) $ 2,181,433 $ (308,182) $ (8,543,189)
Continued from preceding page.
Disposal
Fund FundFund Fund
Golf Course Transit System Specialty ShopsPerforming Arts
Centre Fund
GalleriaSolid Waste Cobblestone Public
114
Cobb County, Georgia
Trust Funds
Combining Statements of Fiduciary Net Position
September 30, 2018
System
Assets:
Cash and cash equivalents $ 228,569 $ - $ 228,569
Investments, at fair value
Common stock 201,577,112 32,613,384 234,190,496
Mutual funds 386,220,489 76,618,014 462,838,503
Corporate Bonds 53,680,078 14,598,625 68,278,703
Government and agency bonds 18,399,681 - 18,399,681
Money market 11,847,029 2,105,330 13,952,359
Receivables
Accrued interest 834,149 75,584 909,733
Total assets 672,787,107 126,010,937 798,798,044
Net position restricted for:
Pension benefits 672,787,107 - 672,787,107
Other post employment benefits - 126,010,937 126,010,937
Total net position $ 672,787,107 $ 126,010,937 $ 798,798,044
TotalBenefits
Pension Trust Fund
Employee
Retirement
OPEB Trust Fund
Other Post
Employment
115
System
Additions
Contributions:
Employer $ 47,521,805 $ 19,574,024 $ 67,095,829
Employee 13,941,429 - 13,941,429
Total contributions 61,463,234 19,574,024 81,037,258
Investment earnings:
Net appreciation (depreciation) in fair value of assets 46,507,933 6,783,588 53,291,521
Interest 11,306,883 2,829,468 14,136,351
Total investment earnings 57,814,816 9,613,056 67,427,872
Less investment expense (1,445,125) (327,223) (1,772,348)
Net investment earnings 56,369,691 9,285,833 65,655,524
Miscellaneous revenue 22,161 - 22,161
Total additions 117,855,086 28,859,857 146,714,943
Deductions
Administrative expenses 374,074 - 374,074
Benefits and claims 67,874,292 15,574,024 83,448,316
Total deductions 68,248,366 15,574,024 83,822,390
Change in net position 49,606,720 13,285,833 62,892,553
Net position
Beginning of year 623,180,387 112,725,104 735,905,491
End of year $ 672,787,107 $ 126,010,937 $ 798,798,044
Retirement
Total
Cobb County, Georgia
Trust Funds
Combining Statements of Changes in Fiduciary Net Position
For the Fiscal Year Ended September 30, 2018
OPEB Trust Fund
Benefits
Other Post
Employment
Pension Trust Fund
Employee
116
Cobb County, Georgia
Agency Funds
Combining Statement of Changes in Assets and Liabilities
For the Fiscal Year Ended September 30, 2018
Balance
October 1, 2017 Additions Deductions
Clerk of State Court
Assets
Cash and cash equivalents $ 6,067,964 $ 24,505,452 $ 25,351,123 $ 5,222,293
Liabilities
Funds held in trust for others $ 6,067,964 $ 24,505,452 $ 25,351,123 $ 5,222,293
Clerk of Juvenile Court
Assets
Cash $ 2,069 $ 10,400 $ 9,268 $ 3,201
Liabilities
Funds held in trust for others $ 2,069 $ 10,400 $ 9,268 $ 3,201
Sheriff
Assets
Cash and cash equivalents $ 10,699,920 $ 15,207,219 $ 14,775,548 $ 11,131,591
Liabilities
Funds held in trust for others $ 10,699,920 $ 15,207,219 $ 14,775,548 $ 11,131,591
Clerk of Superior Court
Assets
Cash and cash equivalents $ 30,277,745 $ 88,037,492 $ 103,349,787 $ 14,965,450
Liabilities
Funds held in trust for others $ 30,277,745 $ 88,037,492 $ 103,349,787 $ 14,965,450
Clerk of Probate Court
Assets
Cash $ - $ 1,922,563 $ 1,922,563 $ -
Liabilities
Due to other funds $ - $ 1,922,563 $ 1,922,563 $ -
Tax Commissioner
Assets
Cash $ 76,321,499 $ 1,075,745,967 $ 1,107,378,111 $ 44,689,355
Taxes and penalties receivable 546,943,315 844,508,173 757,959,465 633,492,023
$ 623,264,814 $ 1,920,254,140 $ 1,865,337,576 $ 678,181,378
Liabilities
Unremitted tax collections $ 76,321,499 $ 1,075,745,967 $ 1,107,378,111 $ 44,689,355
Taxes payable to others upon collection 546,943,315 844,508,173 757,959,465 633,492,023
$ 623,264,814 $ 1,920,254,140 $ 1,865,337,576 $ 678,181,378
Continued on next page.
September 30, 2018
Balance
117
Cobb County, Georgia
Agency Funds
Combining Statement of Changes in Assets and Liabilities
For the Fiscal Year Ended September 30, 2018
Balance
October 1, 2017 Additions Deductions
Accounts Payable Fund
Assets
Cash and cash equivalents $ - $ 42,619,319 $ 42,619,319 $ -
Liabilities
Funds held in trust for others $ - $ 42,619,319 $ 42,619,319 $ -
Payroll Fund
Assets
Cash and cash equivalents $ 5,447,726 $ 315,356,327 $ 314,494,362 $ 6,309,691
Liabilities
Unremitted payroll tax and withholdings $ 5,447,726 $ 315,356,327 $ 314,494,362 $ 6,309,691
Child Support, Witness and Jurors' Fees
Assets
Cash $ 17,411 $ 2,426,849 $ 2,432,720 $ 11,540
.
Liabilities
Funds held in trust for others $ 17,411 $ 2,426,849 $ 2,432,720 $ 11,540
Total assets $ 675,777,649 $ 2,410,339,761 $ 2,370,292,266 $ 715,825,144
Total liabilities $ 675,777,649 $ 2,410,339,761 $ 2,370,292,266 $ 715,825,144
Continued from preceding page.
September 30, 2018
Balance
118
COMPREHENSIVE ANNUAL FINANCIAL REPORT Return to Table of Contents
Cobb County Finance Department, 100 Cherokee Street, Marietta, Georgia 30090
SUPPLEMENTAL INFORMATION
Cobb County, Georgia
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual (Budgetary Basis)
For the Fiscal Year Ended September 30, 2018
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Revenues:
Taxes $ 265,987,119 $ 268,487,119 $ 330,242,874 $ 61,755,755
Licenses and permits 25,330,040 25,361,091 28,512,052 3,150,961
Intergovernmental 3,144,000 3,533,414 3,495,832 (37,582)
Charges for services 45,006,736 45,991,698 48,787,501 2,795,803
Fines and forfeits 7,377,000 9,565,616 9,731,182 165,566
Interest earned 281,551 281,551 1,174,418 892,867
Miscellaneous 3,822,100 2,488,118 6,559,736 4,071,618
Total revenues $ 350,948,546 $ 355,708,607 $ 428,503,595 $ 72,794,988
Expenditures:
Current
General government:
Legislative:
Board of Commissioners
Personnel services $ 980,982 $ 1,022,140 $ 1,022,142 $ (2)
Operating expenditures 51,350 51,560 51,495 65
1,032,332 1,073,700 1,073,637 63
Other Governmental
Operating expenditures 1,474,466 1,762,341 1,696,140 66,201
Non-Profit
Operating expenditures - 921,197 867,293 53,904
- 921,197 867,293 53,904
Total legislative 2,506,798 3,757,238 3,637,070 120,168
Judicial:
Clerk of State Court
Personnel services 5,039,659 4,804,659 -- 4,804,241 418
Operating expenditures 86,511 164,486 140,206 24,280
5,126,170 4,969,145 4,944,447 24,698
Clerk of Superior Court
Personnel services 6,763,681 6,763,681 6,587,229 176,452
Operating expenditures 234,116 314,250 312,205 2,045
Capital outlay - 22,849 - 22,849
6,997,797 7,100,780 6,899,434 201,346
District Attorney
Personnel services 7,200,551 7,719,892 7,719,893 (1)
Operating expenditures 406,410 832,776 834,053 -(1,277)
7,606,961 8,552,668 8,553,946 (1,278)
Chief Magistrate
Personnel services 4,098,870 4,217,591 4,217,593 (2)
Operating expenditures 87,739 112,529 116,060 (3,531)
4,186,609 4,330,120 4,333,653 (3,533)
Continued on next page.
Budgeted Amounts
119
Cobb County, Georgia
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual (Budgetary Basis)
For the Fiscal Year Ended September 30, 2018
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Budgeted Amounts
Juvenile Court
Personnel services 5,526,963 5,386,063 5,386,050 13
Operating expenditures 160,447 209,815 137,227 72,588
5,687,410 5,595,878 5,523,277 72,601
Probate Court
Personnel services 1,561,805 1,555,816 1,466,395 89,421
Operating expenditures 176,452 185,577 185,577 -
Capital outlay - 147,000 173,017 (26,017)
1,738,257 1,888,393 1,824,989 63,404
Solicitor
Personnel services 5,741,599 7,990,765 7,990,767 (2)
Operating expenditures 41,630 79,886 81,291 (1,405)
5,783,229 8,070,651 8,072,058 (1,407)
State Court
Personnel services 7,133,241 7,052,312 7,050,980 1,332
Operating expenditures 503,425 793,848 795,969 (2,121)
7,636,666 7,846,160 7,846,949 (789)
Superior Court
Personnel services 6,117,244 6,358,924 6,358,926 (2)
Operating expenditures 1,014,408 1,297,481 1,304,294 (6,813)
Capital outlay - - - -
7,131,652 7,656,405 7,663,220 (6,815)
Circuit Defender
Personnel services 875,193 875,193 871,340 3,853
Operating expenditures 4,580,625 5,401,738 5,402,539 (801)
5,455,818 6,276,931 6,273,879 3,052
Total judicial 57,350,569 62,287,131 61,935,852 351,279
Executive and administrative:
County Manager
Personnel services 684,325 821,834 821,835 (1)
Operating expenditures 38,680 46,789 46,788 1
723,005 868,623 868,623 -
Continued on next page.
120
Cobb County, Georgia
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual (Budgetary Basis)
For the Fiscal Year Ended September 30, 2018
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Budgeted Amounts
General Administrative
Personnel services 23,000 - - -
Operating expenditures 9,261,177 9,159,124 9,259,727 (100,603)
Capital outlay - 1,998 147,449 (145,451)
9,284,177 9,161,122 9,407,176 (246,054)
Information Services
Personnel services 11,659,396 11,794,823 -11,794,253 570
Operating expenditures 6,943,920 7,937,595 -8,222,913 (285,318)
Capital outlay - 189,615 -322,811 (133,196)
18,603,316 19,922,033 20,339,977 (417,944)
Drug Treatment
Personnel services 209,694 220,810 220,813 (3)
Operating expenditures 228,300 123,684 57,314 66,370
437,994 344,494 278,127 66,367
Finance
Personnel services 3,072,645 2,879,105 2,879,100 5
Operating expenditures 252,550 178,135 177,914 221
3,325,195 3,057,240 3,057,014 226
Purchasing
Personnel services 2,591,148 2,388,620 2,388,620 -
Operating expenditures 1,764,795 2,274,916 2,276,183 (1,267)
Capital outlay - 1,033,461 1,060,461 (27,000)
4,355,943 5,696,997 5,725,264 (28,267)
Fleet
Personnel services -871,072 -905,428 -905,428 - -
Operating expenditures - 28,935 - 33,732 - 33,733 - (1)
900,007 939,160 939,161 (1)
Tax Assessor
Personnel services -4,201,871 -4,078,506 -4,078,475 - 31
Operating expenditures -2,131,478 -2,131,597 -2,049,543 - 82,054
6,333,349 6,210,103 6,128,018 82,085
Internal Audit
Personnel services 432,509 432,509 425,403 7,106
Operating expenditures 5,986 6,367 5,898 469
438,495 438,876 431,301 7,575
Human Resources
Personnel services 2,361,520 2,393,098 2,393,097 1
Operating expenditures 596,302 587,243 457,224 130,019
2,957,822 2,980,341 2,850,321 130,020
Ethics Board
Operating expenditures 2,130 2,130 - 2,130
2,130 2,130 - 2,130
Property Management
Personnel services 5,268,043 5,333,852 -5,333,852 -
Operating expenditures 5,359,909 5,250,222 -5,439,590 (189,368)
Capital outlay - 206,717 -206,717 -
10,627,952 10,790,791 -10,980,159 (189,368)
Continued on next page.
121
Cobb County, Georgia
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual (Budgetary Basis)
For the Fiscal Year Ended September 30, 2018
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Budgeted Amounts
Tax Commissioner
Personnel services 6,789,501 6,340,655 6,340,656 (1)
Operating expenditures 604,101 510,950 511,924 (974)
Capital outlay - - - -
7,393,602 6,851,605 6,852,580 (975)
Public Services
Personnel services 651,877 558,476 499,913 58,563
Operating expenditures 22,423 21,368 12,004 9,364
674,300 579,844 511,917 67,927
Communications
Personnel services 1,112,301 948,306 948,307 (1)
Operating expenditures 125,584 139,657 131,305 8,352
Capital outlay - 132,149 125,360 6,789
1,237,885 1,220,112 1,204,972 15,140
Support Services
Personnel services 303,188 303,188 292,348 10,840
Operating Services 9,600 9,600 8,722 878
312,788 312,788 301,070 11,718
Elections & Registration
Personnel services 2,564,121 2,680,843 2,680,844 (1)
Operating expenditures 619,179 733,140 736,996 (3,856)
3,183,300 3,413,983 3,417,840 (3,857)
County Clerk
Personnel services 389,668 389,668 384,964 4,704
Operating expenditures 40,520 40,520 24,791 15,729
430,188 430,188 409,755 20,433
Law Department
Personnel services 2,182,455 2,154,998 2,154,996 2
Operating expenditures 509,702 448,580 437,184 11,396
2,692,157 2,603,578 2,592,180 11,398
Central Warehouse
Operating expenditures - 727 727 -
Total executive and administrative 73,913,605 75,824,735 76,296,182 (471,447)
Total general government 133,770,972 141,869,104 141,869,104 -
Public Safety:
P S Training Center
Personnel services 315,140 299,540 299,540 -
Operating expenditures 470,278 145,321 145,317 4
Capital outlay - 228,813 228,813 -
785,418 673,674 673,670 4
Police Department
Personnel services 64,083,433 67,210,226 67,210,224 2
Operating expenditures 3,931,954 6,405,319 6,405,319 -
Capital outlay - 2,393,649 2,393,649 -
68,015,387 76,009,194 76,009,192 2
Continued on next page.
122
Cobb County, Georgia
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual (Budgetary Basis)
For the Fiscal Year Ended September 30, 2018
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Budgeted Amounts
Countywide-800MHZ
Personnel services 399,443 386,908 386,906 2
Operating expenditures 1,435,549 1,375,527 1,375,527 -
Capital outlay - 14,190 14,190 -
1,834,992 1,776,625 1,776,623 2
Animal Control
Personnel services 2,916,918 2,822,529 2,822,529 -
Operating expenditures 536,880 493,313 493,313 -
Capital outlay - 72,637 72,637 -
3,453,798 3,388,479 3,388,479 -
Public Safety
Personnel services 193,504 141,085 141,084 1
Operating expenditures 92,570 99,135 99,135 -
Capital outlay - 7,450 7,450 -
286,074 247,670 247,669 1
Emergency Management
Personnel services 148,122 - - -
Operating expenditures 54,200 53,632 53,632 -
202,322 53,632 53,632 -
Safety Village
Personnel services 123,182 124,076 124,075 1
Operating expenditures 152,592 185,917 185,917 -
Capital outlay - 7,375 7,375 - -
275,774 317,368 317,367 1
Sheriff
Personnel services 23,418,690 24,421,065 24,421,063 2
Operating expenditures 1,599,582 1,850,651 1,969,888 (119,237)
Capital outlay - 107,758 146,196 -(38,438)
25,018,272 26,379,474 26,537,147 (157,673)
Corrections
Personnel services 34,854,632 37,050,673 37,050,672 1
Operating expenditures 15,244,047 17,190,595 17,071,357 119,238
Capital outlay 416,923 1,189,983 1,151,545 38,438
50,515,602 55,431,251 55,273,574 157,677
Medical Examiner
Personnel services 1,303,941 1,702,057 1,702,057 -
Operating expenditures 143,734 229,295 229,295 -
Capital outlay - 13,418 13,418 -
1,447,675 1,944,770 1,944,770 -
Total public safety 151,835,314 166,222,137 166,222,123 14
Public Works:
Department of Transportation
Personnel services 13,347,287 12,733,013 12,733,013 -
Operating expenditures 3,980,193 4,224,010 4,224,010 -
Capital outlay - 510,144 510,144 -
17,327,480 17,467,167 17,467,167 -
Total public works 17,327,480 17,467,167 17,467,167 -
Continued on next page.
123
Cobb County, Georgia
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual (Budgetary Basis)
For the Fiscal Year Ended September 30, 2018
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Budgeted Amounts
Housing and Development
Culture and Recreation
Extension Service
Personnel services 582,403 617,545 617,548 (3)
Operating expenditures 27,749 32,199 32,199 -
Capital outlay - 31,901 31,901 -
610,152 681,645 681,648 (3)
Library
Personnel services 9,473,184 9,796,840 9,796,835 5
Operating expenditures 2,824,546 3,026,831 3,028,516 (1,685)
Capital outlay - 194,757 194,757 -
12,297,730 13,018,428 13,020,108 (1,680)
Parks and Recreation
Personnel services 14,922,427 15,564,704 15,564,703 1
Operating expenditures 6,017,367 6,933,416 6,244,943 688,473
Capital outlay - 993,535 934,592 58,943
20,939,794 23,491,655 22,744,238 747,417
Total culture and recreation 33,847,676 37,191,728 36,445,994 745,734
Health and welfare:
Senior Services
Personnel services 2,690,785 2,612,859 2,610,248 2,611
Operating expenditures 478,027 742,099 744,710 (2,611)
Capital outlay - 53,604 53,604 -
3,168,812 3,408,562 3,408,562 -
Cobb County Board of Health
Operating expenditures 978,560 978,560 978,560 -
Total health and welfare 4,147,372 4,387,122 4,387,122 -
Community Development
Personnel services 9,101,232 9,152,492 9,152,495 (3)
Operating expenditures 425,759 615,870 615,866 4
9,526,991 9,768,362 9,768,361 1
Total housing and development 9,526,991 9,768,362 9,768,361 1
Total current $ 350,455,805 $ 376,905,620 $ 376,159,871 $ 745,749
Debt service:
Principal retirement $ 30,888 $ 30,888 $ - $ 30,888
Interest and fiscal charges 100,000 435,480 435,480 -
Total debt service $ 130,888 $ 466,368 $ 435,480 $ 30,888
Total expenditures $ 350,586,693 $ 377,371,988 $ 376,595,351 $ 776,637
Excess (deficiency) of revenues over
expenditures $ 361,853 $ (21,663,381) $ 51,908,244 $ 73,571,625
Continued on next page
124
Cobb County, Georgia
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual (Budgetary Basis)
For the Fiscal Year Ended September 30, 2018
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
Budgeted Amounts
Other financing sources (uses):
Transfers in $ 32,821,990 $ 34,776,521 $ 32,502,226 $ (2,274,295)
Proceeds from sale of capital assets - - 225,946 225,946
Transfers out (47,514,761) (50,924,890) (50,798,214) 126,676
Total other financing sources (uses) $ (14,692,771) $ (16,148,369) $ (18,070,042) $ (1,921,673)
Net change in fund balance $ (14,330,918) $ (37,811,750) $ 33,838,202 $ 71,649,952
Fund balance at beginning of year 90,145,537
Fund balance at end of year - budgetary basis 123,983,739
Reconciliation to GAAP basis:
Elimination of encumbrances outstanding at
end of year 6,132,031
Fund balance at end of year - GAAP basis $ 130,115,770
125
COMPREHENSIVE ANNUAL FINANCIAL REPORT Return to Table of Contents
Cobb County Finance Department, 100 Cherokee Street, Marietta, Georgia 30090
STATISTICAL SECTION
The Statistical Section includes selected financial and general information presented on a multi-year comparative basis. The statistics are used to provide detailed date on the physical, economic, social and political characteristics of the County government. They are intended to provide financial report users with a broader and more complete understanding of the government and its financial affairs than is possible from basic financial statements.
COBB COUNTY, GEORGIA STATISTICAL SECTION
September 30, 2018
This part of the County’s Comprehensive Annual Financial Report presents detailed information as a context for understanding the financial statements, note disclosures, required supplementary information as well as the overall financial position of the County.
Financial Trends These schedules contain trend information to help the user understand how the County’s financial performance has changed over time.
Revenue Capacity These schedules contain information to help the user assess the County’s major revenue sources.
Debt Capacity These schedules present information to help the user assess the affordability of the County’s current level of outstanding debt and the County’s ability to issue additional debt in the future.
Demographic and Economic Information These schedules present demographic and economic indicators to help the user understand the environment within which the County’s financial activities take place.
Operating Information These schedules contain staffing, key operating and capital statistics comparisons to help the user understand how the information in the County’s financial report relates to the services the County provides and the activities it performs.
126
(2) (1)
Governmental activities
Net investment in capital asset $ 3,597,754,891 $ 3,517,507,657 $ 3,318,300,453 $ 3,165,004,359 $ 3,082,678,386
Restricted 274,860,968 271,896,684 261,643,812 296,312,716 220,536,169
Unrestricted (570,332,326) (585,268,577) (305,236,161) (315,844,409) 96,461,368
Total governmental activities net position $ 3,302,283,533 $ 3,204,135,764 $ 3,274,708,104 $ 3,145,472,666 $ 3,399,675,923
Business-type activities
Net investment in capital asset $ 1,460,332,315 $ 1,442,879,862 $ 1,420,350,770 $ 1,382,534,953 $ 1,270,930,346
Restricted 44,410,711 48,915,925 34,265,586 26,807,385 65,285,176
Unrestricted (60,403,279) (53,670,646) (7,665,683) (3,023,209) 10,420,926
Total business-type activities net position $ 1,444,339,747 $ 1,438,125,141 $ 1,446,950,673 $ 1,406,319,129 $ 1,346,636,448
Primary government
Net investment in capital asset $ 5,058,087,206 $ 4,960,387,519 $ 4,738,651,223 $ 4,547,539,312 $ 4,353,608,732
Restricted 319,271,679 320,812,609 295,909,398 323,120,101 285,821,345
Unrestricted (630,735,605) (638,939,223) (312,901,844) (318,867,618) 106,882,294
Total primary government net position $ 4,746,623,280 $ 4,642,260,905 $ 4,721,658,777 $ 4,551,791,795 $ 4,746,312,371
Governmental activities
Net investment in capital asset $ 3,028,553,894 $ 2,993,197,551 $ 2,964,844,393 $ 2,937,351,872 $ 2,845,141,332
Restricted 216,347,412 190,983,262 148,602,863 85,902,876 107,900,772
Unrestricted 74,356,405 52,489,843 30,201,143 30,533,812 56,626,064
Total governmental activities net position $ 3,319,257,711 $ 3,236,670,656 $ 3,143,648,399 $ 3,053,788,560 $ 3,009,668,168
Business-type activities
Net investment in capital asset $ 1,247,891,037 $ 1,234,745,764 $ 1,216,295,546 $ 1,213,125,239 $ 1,214,901,904
Restricted 71,253,900 68,412,045 57,377,091 41,766,430 -
Unrestricted 6,776,248 5,742,409 1,243,157 (8,524,185) 18,017,954
Total business-type activities net position $ 1,325,921,185 $ 1,308,900,218 $ 1,274,915,794 $ 1,246,367,484 $ 1,232,919,858
Primary government
Net investment in capital asset $ 4,276,444,931 $ 4,227,943,315 $ 4,181,139,939 $ 4,150,477,111 $ 4,060,043,236
Restricted 287,601,312 259,395,307 205,979,954 127,669,306 107,900,772
Unrestricted 81,132,653 58,232,252 31,444,300 22,009,627 74,644,018
Total primary government net position $ 4,645,178,896 $ 4,545,570,874 $ 4,418,564,193 $ 4,300,156,044 $ 4,242,588,026
Source: Basic Financial Statements
(1) The effect of the restatement to 2014's categories of net position have not been determined.
(2) As restated.
Cobb County, Georgia
Net Position by Component
Unaudited
2011 2010 2009
2018 2015 20142016
2013
2017
2012
127
(1) (1)
Expenses
Governmental activities:
General government $ 165,424,633 $ 154,788,215 $ 152,978,160 $ 138,660,902 $ 132,717,871 $ 130,306,036 $ 128,569,788 $ 124,434,470 $ 135,559,677 $ 130,964,498
Public safety 289,469,163 273,691,096 260,257,459 235,115,102 226,274,548 216,746,332 214,304,007 208,553,530 226,008,723 218,818,569
Public works 143,129,556 140,071,410 129,004,776 131,167,118 122,421,838 116,643,350 114,304,649 110,401,097 112,031,838 110,796,058
Health and welfare 7,903,359 7,708,828 6,717,051 6,519,036 6,472,100 5,860,760 4,959,244 6,152,176 8,288,145 6,389,272
Culture and recreation 78,642,971 65,875,330 54,545,427 48,839,786 43,385,617 41,135,156 38,769,474 38,136,019 43,049,762 42,245,820
Housing and development 17,411,304 16,763,846 16,113,070 18,376,639 18,093,093 17,753,689 16,821,511 20,739,086 20,588,418 14,458,129
Interest on long-term debt 20,721,554 20,720,935 20,911,456 15,275,354 3,636,376 4,083,434 4,661,298 4,875,524 5,228,323 5,781,065
Total governmental activities expenses $ 722,702,540 $ 679,619,660 $ 640,527,399 $ 593,953,937 $ 553,001,443 $ 532,528,757 $ 522,389,971 $ 513,291,902 $ 550,754,886 $ 529,453,411
Business-type activities:
Water and Sewer $ 195,603,970 $ 190,668,592 $ 182,120,179 $ 173,041,157 $ 170,145,946 $ 162,598,501 $ 161,143,254 $ 160,087,751 $ 163,448,806 $ 156,686,447
Solid Waste 736,392 773,708 710,965 737,827 877,279 899,358 1,268,190 1,042,053 2,079,765 10,793,537
Transit 27,003,918 27,369,365 22,531,352 22,965,800 22,845,555 22,708,672 22,105,963 23,823,838 24,765,622 22,227,266
Cobblestone Golf Course 1,694,487 1,718,217 1,623,370 1,449,393 1,560,622 1,595,990 1,702,007 1,628,098 1,537,850 1,673,843
Galleria Speciality Shops 1,004,250 930,856 883,963 963,200 - - - - - -
Performing Arts Centre 10,040,972 10,396,336 9,727,913 9,516,067 - - - - - -
Total business-type activities expenses $ 236,083,989 $ 231,857,074 $ 217,597,742 $ 208,673,444 $ 195,429,402 $ 187,802,521 $ 186,219,414 $ 186,581,740 $ 191,832,043 $ 191,381,093
Total primary government expenses $ 958,786,529 $ 911,476,734 $ 858,125,141 $ 802,627,381 $ 748,430,845 $ 720,331,278 $ 708,609,385 $ 699,873,642 $ 742,586,929 $ 720,834,504
Program Revenues
Governmental activities:
Charges for services:
General government $ 49,639,193 $ 45,993,578 $ 44,005,094 $ 42,541,928 $ 40,623,239 $ 44,282,012 $ 44,083,506 $ 41,456,332 $ 48,147,632 $ 50,767,215
Public safety 20,618,775 19,922,346 18,747,884 18,169,500 18,253,052 17,729,347 15,782,214 15,369,970 15,237,639 15,131,886
Public works 7,012,300 7,526,362 7,705,165 6,943,989 5,890,118 5,592,147 5,686,233 5,226,015 5,168,770 5,282,949
Health and welfare 403,046 390,928 328,014 304,448 173,728 159,797 125,741 108,067 80,686 82,003
Culture and recreation 21,964,132 20,022,834 20,040,564 17,193,210 3,493,384 3,803,850 3,730,765 3,443,827 3,792,402 4,163,871
Housing and development 28,151,082 27,645,173 28,061,414 27,059,593 22,866,032 21,680,727 20,462,563 20,184,412 16,456,025 16,755,918
Operating grants and contributions 21,934,660 25,965,261 19,455,937 22,416,730 20,517,861 24,035,310 30,918,003 36,156,256 33,068,410 17,745,892
Capital grants and contributions 49,707,069 172,987,488 119,580,091 41,017,800 21,479,625 25,934,892 33,672,286 24,297,732 41,288,426 61,489,833
Total governmental activities program revenues $ 199,430,257 $ 320,453,970 $ 257,924,163 $ 175,647,198 $ 133,297,039 $ 143,218,082 $ 154,461,311 $ 146,242,611 $ 163,239,990 $ 171,419,567
Business-type activities:
Charges for services:
Water and Sewer $ 200,754,371 $ 202,800,418 $ 206,248,856 $ 199,209,759 $ 193,284,442 $ 187,171,300 $ 199,908,029 $ 196,795,218 $ 183,146,980 $ 170,690,750
Solid Waste 550,942 495,220 491,337 466,443 340,960 281,315 319,350 297,272 181,662 5,578,983
Transit 4,198,174 4,479,084 4,839,740 5,677,360 5,817,403 6,050,804 6,334,856 6,061,173 4,997,340 5,347,538
Cobblestone Golf Course 1,687,920 1,705,705 1,702,848 1,638,146 1,627,680 1,825,184 1,940,550 1,790,455 1,027,897 1,710,920
Galleria Speciality Shops 518,232 504,810 522,800 517,767 - - - - - -
Performing Arts Centre 9,733,543 9,742,996 8,930,062 7,950,970 - - - - - -
Operating grants and contributions - - 3,443,307 - - - - - - 638,096
Capital grants and contributions 30,000,062 31,879,589 34,058,991 17,684,800 16,786,496 19,821,770 18,250,239 15,225,107 21,178,823 10,517,614
Total business-type activities program revenues $ 247,443,244 $ 251,607,822 $ 260,237,941 $ 233,145,245 $ 217,856,981 $ 215,150,373 $ 226,753,024 $ 220,169,225 $ 210,532,702 $ 194,483,901
Total primary government program revenues $ 446,873,501 $ 572,061,792 $ 518,162,104 $ 408,792,443 $ 351,154,020 $ 358,368,455 $ 381,214,335 $ 366,411,836 $ 373,772,692 $ 365,903,468
Net (Expense)/Revenue
Governmental activities $ (523,272,283) $ (359,165,690) $ (382,603,236) $ (418,306,739) $ (419,704,404) $ (389,310,675) $ (367,928,660) $ (367,049,291) $ (387,514,896) $ (358,033,844)
Business-type activities 11,359,255 19,750,748 42,640,199 24,471,801 22,427,579 27,347,852 40,533,610 33,587,485 18,700,659 3,102,808
Total primary government net (expense)/revenue $ (511,913,028) $ (339,414,942) $ (339,963,037) $ (393,834,938) $ (397,276,825) $ (361,962,823) $ (327,395,050) $ (333,461,806) $ (368,814,237) $ (354,931,036)
Continued on next page
20092016
Cobb County, Georgia
Changes in Net Position
Unaudited
2012 2011201320172018 2014 20102015
128
(1) (1)
General Revenues and Other Changes in Net Position
Governmental activities:
Property taxes $ 385,637,151 $ 313,253,222 $ 296,940,107 $ 301,401,010 $ 292,056,548 $ 271,694,680 $ 266,092,328 $ 266,292,261 $ 242,217,484 $ 258,642,957
Sales taxes 148,725,522 144,258,267 138,778,010 137,535,405 133,078,439 128,892,927 130,658,337 126,853,951 121,143,588 113,364,227
Insurance and premium tax 30,414,232 28,405,029 26,709,770 24,942,877 23,663,963 22,768,278 21,312,299 21,696,998 22,308,881 22,633,407
Alcoholic beverage tax 5,293,897 5,184,685 5,037,511 4,921,908 4,822,275 4,735,183 4,611,903 4,724,926 4,766,808 4,743,585
Hotel/Motel tax 16,861,644 15,006,067 13,918,458 13,245,458 12,330,071 11,244,163 10,366,262 9,887,246 9,450,045 9,327,241
Real estate transfer tax 2,587,475 2,278,947 2,372,019 2,102,271 1,864,910 1,372,033 964,058 818,501 735,743 805,210
Miscellaneous taxes 12,667,600 12,606,639 12,739,469 13,060,651 12,971,101 13,110,068 11,736,588 11,257,991 11,846,938 10,946,137
Miscellaneous 9,641,936 9,035,754 10,548,514 13,818,104 12,232,740 10,517,034 7,274,977 8,430,128 9,375,895 10,034,725
Grant and contributions not
restricted to specific programs - - - - - - - - - -
Gain on sale of capital assets - 244,689 - - 441,383 154,803 11,123 - 967,324 43,858
Unrestricted investment earnings 2,712,820 1,371,776 1,968,001 2,281,808 823,219 1,072,135 1,045,701 1,296,604 2,219,575 5,550,704
Special item-Adjustment to
intergovernmental agreement - - - - 3,555,000 - - - - -
Transfers 6,877,775 5,321,598 2,826,815 2,706,577 2,282,967 6,539,853 6,877,341 5,650,524 6,603,007 (1,084,273)
Total governmental activities $ 621,420,052 $ 536,966,673 $ 511,838,674 $ 516,016,069 $ 500,122,616 $ 472,101,157 $ 460,950,917 $ 456,909,130 $ 431,635,288 $ 435,007,778
Business-type activities:
Miscellaneous $ 910,919 $ 851,496 $ 464,088 $ 234,810 $ 435,300 $ 228,151 $ 193,332 $ 399,651 $ 615,141 $ 721,233
Gain on sale of capital assets 144,836 57,998 160,667 30,329 59,484 64,731 34,395 90,422 375,196 (1,060,661)
Unrestricted investment earnings 677,371 363,356 193,405 91,442 75,867 110,224 100,428 121,276 359,637 492,335
Transfers (6,877,775) (5,321,598) (2,826,815) (2,706,577) (2,282,967) (6,539,853) (6,877,341) (5,650,524) (6,603,007) 1,084,273
Total business-type activities $ (5,144,649) $ (4,048,748) $ (2,008,655) $ (2,349,996) $ (1,712,316) $ (6,136,747) $ (6,549,186) $ (5,039,175) $ (5,253,033) $ 1,237,180
Total primary government $ 616,275,403 $ 532,917,925 $ 509,830,019 $ 513,666,073 $ 498,410,300 $ 465,964,410 $ 454,401,731 $ 451,869,955 $ 426,382,255 $ 436,244,958
Change in Net Position
Governmental activities $ 98,147,769 $ 177,800,983 $ 129,235,438 $ 97,709,330 $ 80,418,212 $ 82,790,482 $ 93,022,257 $ 89,859,839 $ 44,120,392 $ 76,973,934
Business-type activities 6,214,606 15,702,000 40,631,544 22,121,805 20,715,263 21,211,105 33,984,424 28,548,310 13,447,626 4,339,988
Total primary government $ 104,362,375 $ 193,502,983 $ 169,866,982 $ 119,831,135 $ 101,133,475 $ 104,001,587 $ 127,006,681 $ 118,408,149 $ 57,568,018 $ 81,313,922
Continued from proceeding page
(1) Fiscal years 2014 and 2017 were restated. The effects of the restatement to previously reported changes in net position has not been determined.
2016
Unaudited
Changes in Net Position
2013 2011 20092010
Cobb County, Georgia
201220172018 2015 2014
129
(1)
General Fund
Nonspendable $ 4,401,141 $ 4,165,751 $ 4,957,432 $ 4,803,886 $ 5,175,239 $ 5,057,876 $ 5,388,509 $ 3,866,278 $ 3,377,881
Restricted 1,932,522 2,285,032 2,232,590 2,161,863 1,630,134 1,652,111 2,003,534 2,142,090 1,909,472
Committed 13,199,856 10,966,156 40,196,292 19,819,502 26,228,765 24,679,900 26,838,346 22,853,051 4,395,900
Assigned 1,798,318 1,989,371 2,420,753 2,508,464 36,617 36,617 38,137 38,137 895,727
Unassigned 108,783,933 70,739,227 52,911,589 74,237,815 61,577,669 54,675,608 44,213,159 35,375,643 29,130,898
Total General Fund $ 130,115,770 $ 90,145,537 $ 102,718,656 $ 103,531,530 $ 94,648,424 $ 86,102,112 $ 78,481,685 $ 64,275,199 $ 39,709,878
All Other Governmental Funds
Nonspendable $ 423,029 $ 2,565,251 $ 2,003,587 $ 2,007,201 $ 129,453 $ 127,347 $ 323,167 $ 150,710 $ 1,983
Restricted 269,334,972 302,871,041 275,610,226 502,145,546 218,906,035 213,561,868 188,186,359 145,233,251 93,562,980
Committed 4,655,639 2,800,714 12,829,921 8,482,877 25,890,974 6,692,707 892,897 1,862,719 7,338,797
Assigned 1,595 50,304 25,310 - - - - 1,566,956 20,576,836
Unassigned (4,777,418) (1,762,062) - - (8,747,169)
Special Revenue Funds (34) (69) - 781,619 - - - - -
Capital Projects Funds (1,928,845) (447,675) (6,839,306) - - - - - -
Total all other governmental funds $ 272,486,356 $ 307,839,566 $ 283,629,738 $ 513,417,243 $ 240,149,044 $ 218,619,860 $ 189,402,423 $ 148,813,636 $ 112,733,427
General Fund
Reserved $ 5,744,747
Unreserved 42,189,697
Total General Fund 47,934,444
All Other Governmental Funds
Reserved $ 133,774,416
Unreserved
Special Revenue Funds 426,956
Capital Projects Funds 17,165,427
Total all other governmental funds $ 151,366,799
Source: Basic Financial Statements
Note: The County implemented GASB 54 in FY 2010, thus the fund balance classifications were changed in reporting for 2010 and subsequent years.
(1) The effect of the restatement to 2014's categories of fund balance have not been determined.
Unaudited
Fund Balances, Governmental Funds
Cobb County, Georgia
20102015 2011201220142017
2009
201320162018
130
(1)
Revenues
Taxes $ 599,961,006 $ 521,102,286 $ 496,998,051 $ 497,303,435 $ 482,026,428
Licenses and permits 28,518,752 27,754,843 28,445,783 27,380,512 23,216,980
Intergovernmental 49,988,126 77,916,949 49,441,526 49,462,614 36,254,145
Charges for services 88,712,936 82,490,663 78,089,867 73,384,263 55,346,568
Fines and forfeits 9,731,182 10,569,888 11,855,345 11,447,893 12,736,005
Interest earned 4,444,645 2,393,647 2,076,573 2,244,247 1,483,303
Contributions 2,304,144 92,624,412 62,574,357 -
Miscellaneous 9,641,936 9,035,754 10,548,814 13,818,104 12,232,740
Total revenues $ 793,302,727 $ 823,888,442 $ 740,030,316 $ 675,041,068 $ 623,296,169
Expenditures
General government $ 149,229,751 $ 144,437,701 $ 140,446,801 $ 137,293,964 $ 128,252,106
Public safety 267,706,590 258,749,694 242,093,157 227,385,486 217,489,182
Public works 22,301,790 27,788,869 21,145,757 23,559,916 22,150,532
Health and welfare 7,524,733 7,508,952 7,192,792 6,609,940 6,443,854
Culture and recreation 55,124,845 49,438,397 49,202,208 42,274,216 40,020,320
Housing and development 16,083,539 15,678,995 14,736,015 16,895,956 17,146,174
Debt service
Principal retirement 26,211,095 24,151,419 18,507,246 14,042,574 10,519,015
Interest and fiscal charges 21,827,454 21,265,715 18,582,073 14,810,059 3,917,464
Capital outlay 194,121,129 261,948,186 434,201,650 302,655,447 121,817,341
Intergovernmental 36,664,971 35,563,668 36,614,195 36,746,628 35,103,822
Total expenditures $ 796,795,897 $ 846,531,596 $ 982,721,894 $ 822,274,186 $ 602,859,810
Excess of revenues over (under)
expenditures $ (3,493,170) $ (22,643,154) $ (242,691,578) $ (147,233,118) $ 20,436,359
Other financing sources (uses)
Transfers in $ 95,000,402 $ 85,302,533 $ 68,989,368 $ 143,992,902 $ 43,470,427
Transfers out (87,153,868) (78,957,372) (65,747,030) (140,620,103) (40,806,305)
Capital lease proceeds - - 8,800,000 19,866,806 110,242
Proceeds from sale of capital assets 263,659 353,948 49,161 126,687 469,872
Bonds issued - 24,700,000 - 386,600,000 -
Premium on bonds issued - 2,880,754 - 100,514 79,901
Discount on bonds issued - - - (249,821) -
Premium on issance of certificates - - - - 6,315,000
Total other financing sources (uses) $ 8,110,193 $ 34,279,863 $ 12,091,499 $ 409,816,985 $ 9,639,137
Net change in fund balances
before restatement $ 4,617,023 $ 11,636,709 $ (230,600,079) $ 262,583,867 $ 30,075,496
Restatement $ - $ - $ - $ 19,567,438 $ -
Net change in fund balances
after restatement $ 4,617,023 $ 11,636,709 $ (230,600,079) $ 282,151,305 $ 30,075,496
Debt service as a percentage of
noncapital expenditures 7.98% 7.91% 6.85% 5.62% 3.03%
Source: Basic Financial Statements
Note: Capital outlay in capital project funds in years prior to 2008 was classified by function
(1) Fiscal year 2014 was restated. The effects of the restatement to previously reported changes in fund balances has not been determined.
Unaudited
Changes in Fund Balances, Governmental Funds
Cobb County, Georgia
2018 20162017 2015 2014
131
$ 455,554,341 $ 446,198,262 $ 443,553,657 $ 415,633,188 $ 420,576,822
22,458,136 21,107,725 20,697,338 16,659,309 16,895,893
41,040,211 47,026,534 44,740,225 50,635,105 41,864,297
58,421,713 57,801,007 52,247,547 58,462,632 59,486,597
12,368,031 10,963,315 12,842,713 13,761,213 15,801,352
1,348,103 1,337,327 1,565,632 2,174,725 5,339,066
- - - - -
10,517,034 7,508,969 8,426,162 10,053,251 10,034,725
$ 601,707,569 $ 591,943,139 $ 584,073,274 $ 567,379,423 $ 569,998,752
$ 127,567,454 $ 122,402,883 $ 117,985,464 $ 125,328,297 $ 123,341,205
216,546,285 207,712,179 201,220,539 216,262,152 207,638,521
20,675,829 20,134,131 21,071,499 19,089,629 37,719,789
6,070,001 5,075,377 6,073,248 8,199,261 7,738,451
38,387,445 36,379,623 35,222,986 39,403,023 39,065,599
17,447,786 18,364,641 24,233,973 20,834,947 14,074,012
13,252,657 13,691,395 15,472,073 10,666,662 12,913,462
4,293,197 4,834,172 5,221,351 5,640,833 6,157,146
94,945,037 83,866,243 85,476,054 177,623,740 218,458,686
33,970,260 32,479,600 20,541,070 - -
$ 573,155,951 $ 544,940,244 $ 532,518,257 $ 623,048,544 $ 667,106,871
$ 28,551,618 $ 47,002,895 $ 51,555,017 $ (55,669,121) $ (97,108,119)
$ 33,104,084 $ 31,780,837 $ 39,754,285 $ 48,899,093 $ 39,580,576
(25,876,763) (24,535,492) (32,786,823) (41,516,848) (40,312,340)
904,122 527,412 1,778,899 280,310 12,567,168
154,803 19,621 344,152 1,871,876 174,369
- - - 10,730,000 -
- - - - -
- - - - -
- - - 103,572 -
$ 8,286,246 $ 7,792,378 $ 9,090,513 $ 20,368,003 $ 12,009,773
$ 36,837,864 $ 54,795,273 $ 60,645,530 $ (35,301,118) $ (85,098,346)
$ - $ - $ - $ 30,328 $ -
$ 36,837,864 $ 54,795,273 $ 60,645,530 $ (35,270,790) $ (85,098,346)
3.71% 4.06% 4.64% 3.43% 4.12%
2009
Cobb County, Georgia
Changes in Fund Balances, Governmental Funds
UnauditedUnaudited
Changes in Fund Balances, Governmental Funds
Cobb County, Georgia
201120122013 2010
132
Fiscal
Year
2009 20,135,446,844 50,338,617,110 8,007,177,834 20,017,944,585 2,650,047,807 6,625,119,518 2,964,921,509 7,412,303,773 33,757,593,994 9.60 84,393,984,986 40%
2010 18,078,841,365 45,197,103,413 7,720,793,266 19,301,983,165 2,430,590,424 6,076,476,060 3,198,128,714 7,995,321,785 31,428,353,769 9.60 78,570,884,423 40%
2011 17,078,999,812 42,697,499,530 7,109,351,351 17,773,378,378 2,531,565,795 6,328,914,488 2,990,728,676 7,476,821,690 29,710,645,634 11.11 74,276,614,086 40%
2012 15,982,982,729 39,957,456,823 7,447,369,118 18,618,422,795 2,667,891,919 6,669,729,798 2,901,783,664 7,254,459,160 29,000,027,430 11.11 72,500,068,576 40%
2013 15,811,957,069 39,529,892,673 7,082,047,086 17,705,117,715 2,914,805,850 7,287,014,625 3,005,768,196 7,514,420,490 28,814,578,201 10.91 72,036,445,503 40%
2014 16,907,664,617 42,269,161,543 7,260,294,717 18,150,736,793 2,683,400,022 6,708,500,055 3,072,303,669 7,680,759,173 29,923,663,025 10.71 74,809,157,564 40%
2015 18,169,547,660 45,423,869,150 7,672,250,921 19,180,627,303 2,151,270,171 5,378,175,428 3,285,988,674 8,214,971,685 31,279,057,426 10.51 78,197,643,566 40%
2016 20,204,883,350 50,512,208,375 7,867,423,289 19,668,558,223 1,832,860,034 4,582,150,085 3,505,481,019 8,763,702,548 33,410,647,692 9.85 83,526,619,230 40%
2017 22,049,332,812 55,123,332,030 8,502,663,155 21,256,657,888 1,574,943,474 3,937,358,685 3,073,458,137 7,683,645,343 35,200,397,578 9.85 88,000,993,946 40%
2018 23,858,299,915 59,645,749,788 9,609,046,282 24,022,615,705 1,390,262,911 3,475,657,278 3,230,540,485 8,076,351,213 38,088,149,593 11.45 95,220,373,983 40%
Source: Cobb County Tax Digest
Note: (1) Per $1,000 of assessed value.
Actual Value
Estimated Assessed
Value Value Actual Value
Real Property
Property
Personal
Other
Residential
Property Property
Commercial
Value Actual ValueValue Actual Value
Cobb County, Georgia
Assessed Value and Actual Value
Unaudited
Assessed Estimated Assessed Estimated Assessed Estimated Assessed Estimated
Assessed Value
as of a Percentage
of Actual ValueValue Actual Value
Total Total
Direct
Tax Rate (1)
133
2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Cobb County Direct Rates
General 8.46 6.76 6.66 7.12 7.32 7.52 7.72 7.72 6.82 6.82
Fire District 2.86 2.96 2.96 3.06 3.06 3.06 3.06 3.06 2.56 2.56
Debt Service 0.13 0.13 0.23 0.33 0.33 0.33 0.33 0.33 0.22 0.22
Total direct rates 11.45 9.85 9.85 10.51 10.71 10.91 11.11 11.11 9.60 9.60
Cumberland Special
Service District 2.45 2.45 2.45 2.60 2.70 - - - - -
Six Flags Special
Service District 3.50 3.50 3.50 3.50 - - - - - -
City Rates
Acworth 37.95 36.35 36.35 37.06 37.31 37.56 37.81 37.86 36.35 36.35
Austell 30.74 29.04 28.85 29.46 29.71 30.90 31.15 30.32 29.31 29.31
Kennesaw 39.85 38.25 38.25 38.96 39.21 39.46 39.71 39.76 38.25 38.25
Marietta 32.18 30.48 30.48 31.51 31.77 30.73 31.45 31.50 30.49 29.94
Powder Springs 39.85 37.25 37.25 37.96 38.21 38.46 38.71 38.76 37.25 37.25
Smyrna 36.48 34.78 34.78 35.39 35.64 35.89 36.14 36.19 35.18 35.18
School District
Cobb County Board
of Education 18.90 18.90 18.90 18.90 18.90 18.90 18.90 18.90 18.90 18.90
State of Georgia - - - 0.05 0.10 0.15 0.20 0.25 0.25 0.25
Source: Cobb County Tax Commissioner's Office
Cobb County, Georgia
Direct and Overlapping Property Tax Rates
Unaudited
Year Taxes Are Payable
134
Percentage Percentage
of Total County of Total County
Taxpayer Taxes Levied Taxes Levied
Georgia Power Co. $ 13,806,028 5.02% $ 4,298,678 1.81%
Home Depot 5,951,564 2.16% 5,786,462 2.44%
ATT/BellSouth Telecommunication 3,616,909 1.31% 2,634,528 1.11%
Ohio Teacher's Retirement Fund 3,285,530 1.19% 2,577,226 1.09%
Diamondrock Waverly Owner, LLC 1,802,886 0.76%
Diversified Development Properties 1,956,292 0.83%
SP4 3,170,295 1.34%
Lockheed Martin Corp 2,840,190 1.03% 2,443,397 1.03%
Cobb EMC 2,739,737 1.00% 2,852,067 1.20%
Walton Properties 2,378,332 0.86%
Piedmont 2,301,356 0.84%
GC Net Lease 2,079,172 0.76%
UK Lasalle Inc. 2,012,662 0.73%
Wildwood Properties 2,207,716 0.93%
Source: Cobb County Tax Commissioner's Office (2018 data was not available, therefore 2017 data was utilized)
Levied
Fiscal Year 2009
Taxes
Levied
Cobb County, Georgia
Principal Property Tax Payers
Unaudited
Fiscal Year 2017
Taxes
135
Fiscal Percentage of Percentage of
Year Adjustments Original Levy Adjusted Levy
2009 $ 239,646,001 $ (2,650,394) $ 236,995,607 $ 79,131,484 33.02% $ 156,800,985 $ 235,932,469 99.55%
2010 224,451,029 (3,263,579) 221,187,450 59,693,126 26.60% 160,313,012 220,006,138 99.47%
2011 246,978,483 (2,126,916) 244,851,567 124,618,748 50.46% 118,958,078 243,576,826 99.48%
2012 242,052,858 (4,729,609) 237,323,249 81,038,859 33.48% 153,356,118 234,394,977 98.77%
2013 233,824,893 (2,335,597) 231,489,296 77,847,895 33.29% 152,185,164 230,033,059 99.37%
2014 247,294,515 (2,934,282) 244,360,233 71,107,105 28.75% 172,395,140 243,502,245 99.65%
2015 257,918,079 (2,058,985) 255,859,094 71,060,722 27.55% 184,183,489 255,244,211 99.76%
2016 258,110,165 (1,474,013) 256,636,152 73,434,005 28.45% 182,391,267 255,825,272 99.68%
2017 277,036,463 (1,907,506) 275,128,957 71,214,299 25.71% 202,145,174 273,359,473 99.36%
2018 349,212,898 (3,421,553) 345,791,345 87,968,704 25.19% 87,968,704 25.44%
Collections
in Subsequent
Years
Taxes Levied
for the
Fiscal Year
(Original Levy)
Cobb County, Georgia
Property Tax Levies and Collections
Unaudited
Amount
Total Collections to DateFiscal Year of the Levy
Collected within the
Total
Adjusted Levy Amount
0%
10%
20%
30%
40%
50%
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Collection Percentage within the Fiscal Year of the Levy
136
Percentage Percentage
Metered Annual of Total Metered Annual of Total
Customer Flow (Gallons) Revenues Revenues Flow (Gallons) Revenues Revenues
Cobb County School System 178,797,000 $ 1,859,882 1.08% 170,175,000 $ 1,565,669 1.08%
Cobb County Government 306,671,000 2,139,796 1.25% 258,635,000 1,759,248 1.22%
Kennesaw State University 121,427,000 1,170,407 0.68% 82,878,000 593,618 0.41%
Home Depot 75,623,000 666,598 0.39% - - 0.00%
YES Companies EXP2, LLC 66,129,000 641,448 0.37% - - 0.00%
Wellstar Health System 63,462,000 656,164 0.38% 69,590,000 489,128 0.34%
Walton River LP 62,373,000 616,226 0.36% - - 0.00%
Georgia Power 136,504,000 704,528 0.41% - - 0.00%
Mid-America Apartments 68,253,000 659,820 0.38% - - 0.00%
Compass Chemical 43,668,000 501,580 0.29% - - 0.00%
Lynx Chemical Group - - 0.00% 34,906,000 486,977 0.34%
The Gardens of East Cobb - - 0.00% 45,240,000 385,232 0.27%
Hickory Lake LP - - 0.00% 35,677,000 303,344 0.21%
Stone Ridge @ Vinings - - 0.00% 37,584,000 320,782 0.22%
LSI River Heights, LP - - 0.00% 35,754,000 305,275 0.21%
Cre4scent Square Apts LLC - - 0.00% 35,393,000 302,232 0.21%
Lakes of Vinings - - 0.00% 0.00%
Total 1,122,907,000 $ 9,616,447 5.60% 805,832,000 $ 6,511,505 4.51%
(2) Consists of retail water and sewer operating revenues only (i.e. excludes wholesale revenues, miscellaneous revenues, system development fees, and other non-
operating revenues).
Cobb County, Georgia
Largest Retail Water System Accounts
Unaudited
2018 2009
(1) Provided by the CCWS. All revenues are for combined water and sewer service unless otherwise stated. The listing does not include wholesale sewer
customers.
137
Meter Size 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
5/8 Inch 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00
3/4 Inch 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00
1 Inch 15.00 15.00 15.00 15.00 15.00 15.00 15.00 15.00 15.00 15.00
1.5 Inch 26.00 26.00 26.00 26.00 26.00 26.00 26.00 26.00 26.00 26.00
2.0 Inch 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00
3.0 Inch 66.00 66.00 66.00 66.00 66.00 66.00 66.00 66.00 66.00 66.00
4.0 Inch 99.60 99.60 99.60 99.60 99.60 99.60 99.60 99.60 99.60 99.60
6.0 Inch 206.40 206.40 206.40 206.40 206.40 206.40 206.40 206.40 206.40 206.40
8.0 Inch 321.60 321.60 321.60 321.60 321.60 321.60 321.60 321.60 321.60 321.60
10.0 Inch 463.20 463.20 463.20 463.20 463.20 463.20 463.20 463.20 463.20 463.20
12.0 Inch 463.20 463.20 463.20 463.20 463.20 463.20 463.20 463.20 463.20 463.20
Source: Cobb County Water System
Fiscal Year
Unaudited
Existing Water Rates
Cobb County, Georgia
Minimum Monthly Charges
138
Usage Block Monthly Usage (gals) Water Sewer Water Sewer Water Sewer Water Sewer Water Sewer
Residential: Tier 1 (1,000 to 3,000) 3.16$ 6.04$ 2.83$ 5.41$ 2.83$ 5.41$ 2.83$ 5.41$ 2.83$ 5.41$
Tier 2 (4,000 to 15,000) 4.87$ 4.36$ 4.36$ 4.36$ 4.36$
Tier 3 (16,000 to 29,000) 6.06$ 5.43$ 5.43$ 5.43$ 5.43$
Tier 4 (30,000 to 49,000) 6.90$ 6.36$ 6.36$ 6.36$ 6.36$
Tier 5 (50,000 and above) 9.21$ 8.25$ 8.25$ 8.25$ 8.25$
Non-Residential: 4.78$ 6.04$ 4.28$ 5.41$ 4.28$ 5.41$ 4.28$ 5.41$ 4.28$ 5.41$
Water Sewer Water Sewer Water Sewer Water Sewer Water Sewer
Residential: Tier 1 (1,000 to 3,000) 2.83$ 5.41$ 2.83$ 5.41$ 2.83$ 5.30$ 2.67$ 5.10$ 2.47$ 4.85$
Tier 2 (4,000 to 15,000) 4.36$ 4.36$ 4.11$ 3.88$ 3.62$
Tier 3 (16,000 to 29,000) 5.43$ 5.43$ 5.12$ 4.83$ 4.09$
Tier 4 (30,000 to 49,000) 6.36$ 6.36$ 6.00$ 5.66$ 4.80$
Tier 5 (50,000 and above) 8.25$ 8.25$ 7.78$ 7.34$ 6.86$
Non-Residential: 4.28$ 5.41$ 4.28$ 5.41$ 4.04$ 5.30$ 3.81$ 5.10$ 3.56$ 4.85$
Source: Cobb County Water System
Cobb County, Georgia
Existing Sewer Rates
Unaudited
Rate Per 1,000 Gallons
Fiscal Year
2018 2017
2013 2012
2016 2015 2014
2011 2010 2009
139
Double Check Domestic or Unmetered
Detector Fire Meter Fire Line
Meter Size Assembly (No Backflow) (1) (No Backflow) (1)
5/8 Inch 19.00$
3/4 Inch 19.00$
1 Inch 19.00$
1 1/2 Inch 19.00$
2 Inch 20.00$ 24.00$
3 Inch 20.00$ 32.00$
4 Inch 20.00$ 40.00$
6 Inch 50.00$ 151.00$ 200.00$
8 Inch 60.00$ 201.00$ 250.00$
10 Inch 80.00$ 251.00$ 300.00$
12 Inch 110.00$ 350.00$
Permitting Total Fee
Fiscal Year CCWS Portion Jurisdiction (3) Collected
2009-2018 2,400.00$ 500.00$ 2,900.00$
Source: Cobb County Water System
Cobb County, Georgia
Cobb County, Georgia
Fire Sprinkler Service Charges
Unaudited
2009-2018
System Development Fees
Unaudited
140
Description Water Sewer Total Water Sewer Total
CCWS (Existing 2015) 28.57$ 32.46$ 61.03$ 25.18$ 29.40$ 54.58$
CCWS (Projected 2019) (2) 31.09$ 36.24$ 67.33$ -$ -$ -$
Other Public Utilities:
Fulton County 23.00$ 40.28$ 63.28$ 21.57$ 37.89$ 59.46$
Paulding County 52.26$ 47.20$ 99.46$ 37.04$ 32.00$ 69.04$
City of Atlanta 33.64$ 82.75$ 116.39$ 33.64$ 82.75$ 116.39$
Cherokee County 37.45$ 47.35$ 84.80$ 30.20$ 38.00$ 68.20$
Douglas County 39.12$ 45.40$ 84.52$ 30.85$ 33.47$ 64.32$
Gwinnett County 37.02$ 52.88$ 89.90$ 30.66$ 29.46$ 60.12$
Coweta County 45.14$ 50.30$ 95.44$ 40.00$ 39.15$ 79.15$
Rockdale County 37.91$ 54.29$ 92.20$ 33.65$ 39.23$ 72.88$
Clayton County 34.20$ 36.47$ 70.67$ 27.39$ 28.53$ 55.92$
DeKalb County 17.66$ 74.93$ 92.59$ 10.63$ 40.71$ 51.34$
Average of Other Utilities 35.74$ 53.19$ 88.93$ 29.56$ 40.12$ 69.68$
Source: Cobb County Water System
Cobb County, Georgia
Rate Comparison With Other Utilities (1)
Unaudited
2018
(2) Based on rate adjustments approved by the Board to become effective on January 1, 2017. The proposed rate adjustments will only apply
to the volumetric rate components.
Fiscal Year
(1) Assumes a residential customer using 6,000 gallons of service per month.
2009
141
Description 2018 2009
General Wholesale Customers 4.22$ 3.83$
Fulton County:
Flows up to 10.32 MGD 2.28$ 2.07$
Flows exceeding 10.32 MGD 4.22$ 3.83$
Source: Cobb County Water System
(1) Fulton County funded 50 percent of the cost of the original Sutton WRF, and
subsequently receives a reduced rate that excludes a capital recovery component up to the
portion of capacity that was funded. A similar provision is in the 2003 agreement between
the County and Fulton County for the Sutton WRF replacement project previously
discussed.
Cobb County, Georgia
Wholesale Sewer Rates
Unaudited
Rate Per 1,000 Gallons
142
Percentage
Percentage Actual Value
Fiscal of Personal of Taxable
Year Income Property
2009 $ 61,213,258 $ 6,617,567 $ 54,595,691 0.19% 0.06% 79.73
2010 54,097,458 8,244,274 45,853,184 0.16% 0.06% 66.48
2011 47,588,653 8,728,738 38,859,915 0.13% 0.05% 55.71
2012 40,370,000 9,248,141 31,121,859 0.11% 0.04% 43.98
2013 33,920,141 9,841,774 24,078,367 0.08% 0.03% 33.59
2014 26,436,633 10,930,878 15,505,755 0.05% 0.02% 21.27
2015 18,638,155 12,611,608 6,026,547 0.02% 0.01% 8.14
2016 10,514,647 10,490,000 24,647 0.00% 0.00% 0.03
2017 29,525,691 8,500,227 21,025,464 0.06% 0.02% 27.64
2018 23,250,565 6,905,735 16,344,830 0.04% 0.02% 21.12
Source: Basic Financial Statements
General Bonded Debt Outstanding
Cobb County, Georgia
Ratios of General Bonded Debt Outstanding
Unaudited
Debt
Net Bonded
Capita
PerPremiums, Discounts, &
Adjustments
Bonds Net of Related
General Obligation
Restricted to
Repaying
Principal
Less: Amounts
$-
$10,000,000
$20,000,000
$30,000,000
$40,000,000
$50,000,000
$60,000,000
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Cobb County's Net Bonded Debt
143
Estimated
Percentage
Governmental Unit Applicable (1)
Cities
Kennesaw $ 8,945,000 100% $ 8,945,000
Marietta 75,635,000 100% 75,635,000
Powder Springs 9,315,000 100% 9,315,000
Total cities $ 93,895,000
Development Authorities
Acworth $ 14,715,000 100% $ 14,715,000
Marietta 16,495,000 100% 16,495,000
Smyrna 44,766,989 100% 44,766,989
Total development authorities $ 75,976,989
Subtotal, overlapping debt $ 169,871,989
Total direct debt
General Obligation Debt, net of premiums, discounts, and adjustments 23,250,565
Certificates of Participation 7,965,000
Capital Lease Payable 13,985,297
Revenue Anticipation Certificates, net of premiums 5,630,373
Governmental Revenue Bonds, net of premiums, discounts, and adjustments 456,450,099
Total direct debt $ 507,281,334
Total direct and overlapping debt $ 677,153,323
(1) Entities are situated entirely within the geographic boundaries of the County
Sources: Assessed value data used to estimate applicable percentages provided by the Cobb County Board of Equalization
and Assessment. Debt outstanding data provided by each governmental unit.
Debt
Debt
Outstanding
Share of
Direct and
Notes: Overlapping governments are those that coincide, at least in part, within the geographic boundaries of the County.
This schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents
and businesses of the County. This process recognizes that, when considering the County's ability to issue and repay long-
term debt, the entire debt burden borne by the residents and businesses should be taken into account. However, this does
not imply that every taxpayer is a resident, and therefore responsible for repaying the debt of each overlapping government.
Overlapping
Cobb County, Georgia
Direct and Overlapping Governmental Activities Debt
As of September 30, 2018
Estimated
Unaudited
144
Assessed value of property $ 38,088,149,593 $ 35,200,397,578 $ 33,410,647,692 $ 31,279,057,426 $ 29,923,663,025
Debt limit, 10% of assessed value 3,808,814,959 3,520,039,758 3,341,064,769 3,127,905,743 2,992,366,303
Amount of debt applicable to limit - - - 5,828,392 15,134,122
General Obligation Bonds 21,090,000 26,885,000 10,490,000 18,440,000 26,065,000
Less: Resources restricted to paying principal (6,905,735) (8,500,227) (10,490,000) (12,611,608) (10,930,878)
Total net debt applicable to limit 14,184,265 18,384,773 - 5,828,392 15,134,122
Legal debt margin $ 3,794,630,694 $ 3,501,654,985 $ 3,341,064,769 $ 3,122,077,351 $ 2,977,232,181
Total net debt applicable to the limit
as a percentage of debt limit 0.37% 0.52% 0.00% 0.19% 0.51%
Assessed value of property $ 28,814,578,201 $ 29,000,027,430 $ 29,710,645,634 $ 31,428,353,769 $ 33,757,593,994
Debt limit, 10% of assessed value 2,881,457,820 2,900,002,743 2,971,064,563 3,142,835,377 3,375,759,399
Amount of debt applicable to limit 23,533,226 31,121,859 38,341,262 45,235,726 53,682,433
General Obligation Bonds 33,375,000 40,370,000 47,070,000 53,480,000 60,300,000
Less: Resources restricted to paying principal (9,841,774) (9,248,141) (8,728,738) (8,244,274) (6,617,567)
Total net debt applicable to limit 23,533,226 31,121,859 38,341,262 45,235,726 53,682,433
Legal debt margin $ 2,867,924,594 $ 2,868,880,884 $ 2,932,723,301 $ 3,097,599,651 $ 3,322,076,966
Total net debt applicable to the limit
as a percentage of debt limit 0.82% 1.07% 1.29% 1.44% 1.59%
Source: Cobb County Tax Commissioner's Office
2016
Fiscal Year
Fiscal Year
2017
2012
Cobb County, Georgia
20142018
Unaudited
Legal Debt Margin Information
2010 2009
2015
2013 2011
$-
$3,794,630,694
Legal Debt Information - Fiscal Year 2018
Amount of debt applicable to limit Legal debt margin
145
General Revenue Total Premiums, Total Percentage
Fiscal Obligation Certificates of Anticipation Revenue Capital Revenue Capital Notes Discounts, & Primary of Personal Per
Year Bonds Participation Certificates Bonds Leases Bonds Leases Payable Adjustments Government Income Capita
2009 $ 60,300,000 $ - $ - $ 137,865,000 $ 19,055,578 $ 236,025,000 $ 102,032 $ 69,257,915 $ * $ 522,605,525 1.86% $ 763.17
2010 53,480,000 10,730,000 - 133,000,000 16,767,946 224,675,000 17,401 87,374,239 * 526,044,586 1.86% 762.72
2011 47,070,000 10,490,000 - 128,460,000 10,766,312 212,490,000 - 132,316,878 12,584,669 554,177,859 1.88% 794.46
2012 40,370,000 10,260,000 - 123,685,000 5,907,329 198,990,000 325,654 163,412,065 11,706,761 554,656,809 1.88% 783.82
2013 33,375,000 9,990,000 - 118,650,000 2,298,794 185,325,000 258,842 164,395,534 9,076,216 523,369,386 1.75% 730.08
2014 26,065,000 9,670,000 6,315,000 101,870,000 1,115,021 179,395,000 190,749 156,084,686 11,843,248 492,548,704 1.55% 675.51
2015 18,440,000 9,270,000 6,315,000 483,340,000 20,249,253 165,330,000 121,352 147,533,739 10,502,927 861,102,271 2.56% 1,163.43
2016 10,490,000 8,850,000 6,070,000 477,610,000 25,027,811 152,885,000 - 138,736,509 9,340,771 829,010,091 2.39% 1,108.08
2017 26,885,000 8,415,000 5,820,000 467,890,000 19,731,392 140,040,000 - 129,682,955 10,898,305 809,362,652 2.22% 1,064.00
2018 21,090,000 7,965,000 5,565,000 454,095,000 13,985,297 126,780,000 - 120,368,698 9,492,525 759,341,520 2.02% 981.15
* Information prior to 2011 is not readily available
Cobb County, Georgia
Governmental Activities
Unaudited
Ratios of Outstanding Debt By Type
Business - Type Activities
$-
$200
$400
$600
$800
$1,000
$1,200
$1,400
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Debt Per Capita
146
Water and Sewer Bonds:
Direct Net Revenue
Fiscal Gross Operating Available for Debt Service Requirements
Year Revenues (2) Expenses (1) Debt Service Principal Interest Total Coverage
2009 $ 173,328,501 $ 111,624,602 $ 61,703,899 $ 5,135,000 $ 5,503,503 $ 10,638,503 5.80
2010 184,733,255 113,271,988 71,461,267 8,915,000 9,202,344 18,117,344 3.94
2011 197,794,263 111,410,679 86,383,584 9,665,000 9,485,689 19,150,689 4.51
2012 201,676,082 114,183,662 87,492,420 10,015,000 9,044,825 19,059,825 4.59
2013 188,229,350 113,474,593 74,754,757 10,395,000 8,588,025 18,983,025 3.94
2014 194,473,101 122,988,407 71,484,694 11,770,000 6,471,112 18,241,112 3.92
2015 200,161,816 126,684,133 73,477,683 11,590,000 6,023,749 17,613,749 4.17
2016 207,690,263 134,860,019 72,830,244 12,330,000 5,679,339 18,009,339 4.04
2017 204,602,109 143,418,500 61,183,609 12,725,000 4,899,075 17,624,075 3.47
2018 203,098,936 136,953,303 66,145,633 13,150,000 4,489,176 17,639,176 3.75
(1) Depreciation expense not included.
(2) Includes non operating revenues and transfers in.
Cobb County, Georgia
Revenue Bond Coverage
Unaudited
147
General Obligation Bonds
Year Ending
September 30 Principal Interest Principal Interest Principal Interest Principal Interest
2019 3,800,000 959,500 14,270,000 18,997,328 13,705,000 4,727,264 31,775,000 24,684,092
2020 4,000,000 764,500 14,820,000 18,507,757 14,165,000 4,287,620 32,985,000 23,559,877
2021 4,210,000 559,250 15,425,000 17,968,618 14,670,000 3,800,247 34,305,000 22,328,115
2022 4,430,000 343,250 16,075,000 17,372,815 15,165,000 3,293,000 35,670,000 21,009,065
2023 4,650,000 116,250 16,760,000 16,742,921 15,690,000 2,765,522 37,100,000 19,624,693
2024-2028 - - 87,745,000 73,086,612 44,035,000 7,718,016 131,780,000 80,804,628
2029-2033 - - 61,970,000 58,313,332 9,350,000 397,375 71,320,000 58,710,707
2034-2038 - - 69,660,000 44,222,771 - - 69,660,000 44,222,771
2039-2043 - - 85,300,000 27,123,750 - - 85,300,000 27,123,750
2044-2047 - - 72,070,000 6,630,525 - - 72,070,000 6,630,525
$ 21,090,000 $ 2,742,750 $ 454,095,000 $ 298,966,429 $ 126,780,000 $ 26,989,044 $ 601,965,000 $ 328,698,223
Total Primary Government
Bonds
Cobb County, Georgia
Annual Debt Service Requirements
Unaudited
Revenue BondsRevenue Bonds
Governmental ActivitiesGovernmental Activities Business Type Activities
148
Per Capita County
Personal Personal Unemployment
Population Income Income Rate
Year (1) (1) (1) (2)
2009 684,780 28,103,110,000 41,039.62 9.6%
2010 689,700 28,272,470,000 40,992.42 9.5%
2011 697,550 29,529,280,000 42,332.85 8.4%
2012 707,630 29,522,180,000 41,719.80 7.3%
2013 716,870 29,987,220,000 41,830.76 7.1%
2014 729,150 31,733,810,000 43,521.65 6.0%
2015 740,140 33,692,030,000 45,521.16 4.9%
2016 748,150 34,647,630,000 46,311.07 4.5%
2017 760,680 36,471,660,000 47,946.13 3.6%
2018 773,930 37,682,170,000 48,689.38 3.2%
(2)
City 2018 Population
Acworth 22,163
Austell 7,227
Kennesaw 33,433
Marietta 60,203
Powder Springs 14,765
Smyrna 55,467
Total 193,258
Source:
(1) Woods & Poole Economics 2018 Data Pamphlet
(2) Office of Economic Development and Cobb Chamber of Commerce
Cobb County, Georgia
Demographic and Economic Statistics
Unaudited
149
Percentage Percentage
of Total County of Total County
Employer Industry Employees Employment Employees Employment
Brand Energy & Infastructure Holdings Retail 2,803 0.52%
Cobb County Government Government 5,086 0.94% 5,288 1.23%
Cobb County Schools Government 14,984 2.77% 20,133 4.70%
Dobbins Air Force Base Government 2,521 0.59%
Home Depot Retail 12,000 2.22%
Kennesaw State University Education 5,980 1.11% 3,107 0.72%
Kroger Co. Retail 2,523 0.47%
Lockheed Martin Aircraft/Defense 5,100 0.94% 7,028 1.64%
Publix Super Markets Retail 3,619 0.67% 4,207 0.98%
Ryla Teleservices Inc. (Alorica) Call Center 3,932 0.92%
Six Flags Over Georgia Theme Park 2,772 0.51% 2,506 0.58%
Walmart Retail 2,750 0.64%
Wellstar Health System Healthcare 11,596 2.15% 9,142 2.13%
Source: Office of Economic Development and Cobb Chamber of Commerce
* Total County Employment per Woods & Poole Economics 2018 Data Pamphlet.
Cobb County, Georgia
Principal Employers
Unaudited
20092018
150
Year Permits Values Permits Values Permits Values
2018 982 296,695,988 9776 679,604,979 10,758 976,300,967
2017 943 290,368,248 8882 703,401,304 9,825 993,769,552
2016 939 310,783,719 4786 1,060,620,960 5,725 1,371,404,679
2015 923 314,159,526 4673 763,401,075 5,596 1,077,560,601
2014 938 277,097,942 6414 318,658,575 7,352 595,756,517
2013 1077 316,049,472 5243 395,524,902 6,320 711,574,374
2012 734 203,691,614 4933 377,565,829 5,667 581,257,443
2011 586 157,087,812 5144 466,193,085 5,730 623,280,897
2010 467 107,288,665 5041 267,126,934 5,508 374,415,599
2009 248 59,240,178 4842 183,535,565 5,090 242,775,743
Source: Cobb County Building Inspections Department
Single Family
Residence
Commerical
Industrial, Other
Cobb County, Georgia
Building Permits and Construction
Unaudited
Total
New Construction
151
Total Deposits
Year (in thousands)
2018 15,215,670$
2017 13,416,881$
2016 13,796,846$
2015 11,935,855$
2014 10,933,235$
2013 10,269,243$
2012 10,102,532$
2011 9,489,929$
2010 9,467,972$
2009 10,542,221$
Source: Federal Deposit Insurance Corporation
Commercial and Saving Bank Deposit
Unaudited
Combined Financial Institutional Statistics
Cobb County, Georgia
152
Function/Program 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
General government 1,119 1,109 1,102 1,174 1,141 1,148 1,150 1,141 1,143 1,170
Public safety 2,290 2,285 2,240 2,260 2,348 2,304 2,294 2,294 2,294 2,291
Public works 171 159 153 161 165 165 159 148 148 174
Health and welfare 44 46 45 67 46 45 43 53 53 59
Culture and recreation 304 296 288 447 292 291 318 318 318 331
Housing and development 112 109 93 110 90 88 92 92 93 103
Water 377 394 389 408 434 429 429 429 429 434
Solid waste 6 4 4 4 4 4 6 6 7 58
Total 4,423 4,402 4,314 4,631 4,520 4,474 4,491 4,481 4,485 4,620
Source: Cobb County Human Resources Department
Cobb County, Georgia
Full-time Equivalent Cobb County Government Employees by Function
Unaudited
Full-time Equivalent Employees as of September 30
25%
52%
4% 1% 7%
3% 8%
0%
Full-time Equivalent Cobb County Government Employees by Function General government Public safety Public works Health and welfare Culture and recreation Housing and development Water Solid waste
153
2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
General government
Vehicle tags issued 640,101 639,008 632,791 721,751 698,400 698,010 632,813 695,116 681,339 679,519
Public safety
E-911 calls 385,518 388,150 400,401 414,371 399,038 381,924 393,208 380,090 382,357 392,177
Police service calls 471,146 490,607 481,449 506,325 483,756 454,620 458,160 457,878 488,890 502,275
Fire/EMS dispatches 86,708 86,802 84,309 77,386 74,074 68,021 64,823 64,854 61,841 61,763
Public works
Miles of road resurfacing 48.43 69.73 83.00 87.00 124.00 124.00 92.00 64.00 35.93 45.00
Health and welfare
Number of child support cases 5,562 5,782 5,975 5,988 6,436 6,217 7,500 7,587 7,814 8,108
Culture and recreation
Golf rounds played 39,075 38,609 41,334 39,940 38,795 42,014 44,848 40,385 24,198 40,414
Housing and development
Building permits issued 10,758 9,825 5,725 5,596 7,352 6,319 5,667 5,730 5,508 9,014
Water
Water accounts 183,377 182,020 180,886 179,882 177,969 176,207 174,837 176,406 175,688 175,075
Water Purchase 57,607,002 57,831,648 56,906,048 53,144,642 50,166,716 45,611,090 47,698,883 44,919,089 40,513,474 35,430,555
Sales 92,177,941 94,229,181 94,661,829 91,752,406 88,651,958 86,189,236 93,143,253 89,932,972 82,614,026 76,054,675
Daily average consumption
- 1,000 gal units 54,055 55,611 56,167 54,408 53,104 51,552 56,709 56,909 56,312 54,027
Solid waste
Solid waste and compost tonnage ** ** ** ** ** ** ** ** ** 144,661
Source: Department managers within each function/program.
* Information not available
**At the end of FY2009, Solid Waste was privitized
Cobb County, Georgia
Function/Program
Unaudited
Operating Indicators by Function
Fiscal Year
154
2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
General government
Fleet service bays 23 23 23 23 23 23 23 23 23 23
Public safety
Police stations 6 6 6 6 6 6 6 6 6 6
Fire stations 29 29 29 30 30 30 30 31 31 29
Public works
Miles of road*** 2,434 2,431 2,426 3,290 3,228 3,275 3,256 3,451 3,418 3,393
Miles of sidewalks 1,243 1,231 1,227 1,225 1,210 1,186 1,174 1,160 1,146 1,130
Health and welfare
Senior service centers 6 6 6 6 6 6 5 4 5 5
Culture and recreation
County parks 90 78 77 77 77 77 77 77 77 75
County libraries 16 16 16 16 17 17 17 17 17 17
County golf courses 2 2 2 2 2 2 2 2 2 2
Housing and development
HUD homes built 10 13 6 7 4 28 14 2 1 1
Water
Miles of water mains* 3,324 3,286 3,282 3,215 2,907 3,150 3,133 3,130 3,121 3,086
Miles of sewers* 2,646 2,613 2,623 2,593 2,607 2,603 2,605 2,596 2,611 2,582
Solid waste
Landfills 3 3 3 3 3 3 3 3 3 3
Source: Department managers within each function/program.
*In 2010, Water began utilizing Geographical Information System [GIS] to calculate assets. Historical data has been revised based on 2010 GIS quantities
***In 2012, the miles of roads indicator was reduced so as to not include private roads.
Cobb County, Georgia
Function/Program
Unaudited
Capital Asset Statistics by Function
Fiscal Year
155
Wyckoff Quarles Wyckoff Quarles
Description Plant Plant Plant Plant
Water Treatment (MGD) 72.00 86.00 72.00 86.00
Raw Water Pumping (MGD) 99.00 108.00 99.00 108.00
Treated Water Pumping (MGD) 101.00 90.00 101.00 122.00
Raw Water Storage (MG) - 25.00 - 25.00
Clear Well Storage (MG) 6.00 14.00 6.00 8.00
Potable/Finished Water Storage (MG)
Combined Average Daily Production 81.6 MGD 79.0 MGD
Existing Capacity Existing Capacity
Treatment Plant Date in Service Capacity Used (%) Capacity Used (%)
R.L. Sutton 1973 60.00 45% 60.00 39%
South Cobb 1964 40.00 62% 40.00 57%
Noonday 1973 20.00 52% 20.00 46%
Northwest 1987 12.00 56% 12.00 53%
Total 132.00 132.00
Source: Cobb County Water System
2018
Fiscal Year
2009
Fiscal Year
Combined = 36.5
2018
(1) At the Wyckoff Plant, no raw water storage is utilized. The source water is taken directly from the Allatoona Reservoir.
Fiscal Year
Combined = 40.5
Cobb County, Georgia
Existing Authority Water & Sewer Treatment System Capacities
Unaudited
2009
Fiscal Year
156
Fiscal Year Accounts % Change Accounts % Change
2009 175,075 0.21% 144,787 0.45%
2010 175,688 0.35% 146,172 0.96%
2011 176,406 0.41% 147,299 0.77%
2012 174,837 -0.89% 148,332 0.70%
2013 176,207 0.78% 151,161 1.91%
2014 177,969 1.00% 152,399 0.82%
2015 179,882 1.07% 153,480 0.71%
2016 180,886 0.56% 150,042 -2.24%
2017 182,020 0.63% 150,897 0.57%
2018 183,377 0.75% 152,120 0.81%
Source: Cobb County Water System
Water Sewer
Cobb County, Georgia
Historical System Accounts
Unaudited
157
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Return to Table of
Contents
Cobb County Finance Department, 100 Cherokee Street, Marietta, Georgia 30090
COMPLIANCE SECTION
The Compliance Section includes the special report of the 1 percent Sales and Use Tax and the Water System Comparative Statement of Revenues and Expenses as required by the Security and Exchange Commission’s Rule 15c2-12(b)(5).
Cobb County, Georgia
Road Sales Tax Funds
Schedule of Projects Constructed with Special Sales Tax Proceeds
For the Fiscal Year Ended September 30, 2018
Estimated
Original Revised Expenditures Percentage
Estimated Estimated Prior Current of
Project Cost Cost Years (1) Year Total Completion
2006 SPLOST:
Public Safety
Jail Expansion $ 110,000,000 $ 110,000,000 $ 109,999,999 $ - $ 109,999,999 100.00%
New Court House 55,000,000 63,380,000 62,399,455 913,260 63,312,715 99.89%
800Mhz Communication System:
Cobb County 22,625,636 23,556,090 23,556,090 - 23,556,090 100.00%
City of Acworth 800Mhz 208,728 229,395 229,395 - 229,395 100.00%
City of Austell 800Mhz 160,334 192,681 192,681 - 192,681 100.00%
City of Kennesaw 800 Mhz 353,942 428,767 428,767 - 428,767 100.00%
City of Marietta 800 Mhz 2,519,952 1,409,151 1,409,151 - 1,409,151 100.00%
City of Powder Springs 800 Mhz 281,340 253,476 253,476 - 253,476 100.00%
City of Smyrna 800 Mhz 850,068 930,440 930,440 - 930,440 100.00%
Transportation:
Cobb County 525,324,286 545,586,977 511,230,904 8,598,576 519,829,480 95.28%
City of Acworth 11,090,749 9,974,670 9,974,670 - 9,974,670 100.00%
City of Austell 2,042,132 1,743,270 1,743,270 - 1,743,270 100.00%
City of Kennesaw 9,931,674 7,988,479 7,988,479 - 7,988,479 100.00%
City of Marietta 58,273,797 52,533,354 52,533,354 - 52,533,354 100.00%
City of Powder Springs 13,212,326 11,537,187 11,537,187 - 11,537,187 100.00%
City of Smyrna 42,725,391 37,005,532 37,005,532 - 37,005,532 100.00%
Program Total $ 854,600,355 $ 866,749,469 $ 831,412,850 $ 9,511,836 $ 840,924,686 97.02%
2011 SPLOST:
Facilities $ 16,748,420 $ 24,122,397 $ 18,334,113 $ 1,779,023 $ 20,113,136 83.38%
Parks 82,023,000 87,098,000 76,079,189 5,753,157 81,832,346 93.95%
Public Safety
Equipment 10,931,400 9,615,278 9,359,042 79,658 9,438,700 98.16%
800Mhz Communication System 1,965,000 1,965,000 1,961,502 - 1,961,502 99.82%
Transportation:
Cobb County 250,885,000 350,739,576 286,369,740 19,520,299 305,890,039 87.21%
City of Acworth 13,323,141 14,468,360 14,465,016 - 14,465,016 99.98%
City of Austell 4,672,186 5,073,793 5,072,620 - 5,072,620 99.98%
City of Kennesaw 22,107,998 24,008,337 24,002,788 - 24,002,788 99.98%
City of Marietta 44,799,421 48,650,249 48,639,004 - 48,639,004 99.98%
City of Powder Springs 10,678,598 9,596,499 9,593,820 - 9,593,820 99.97%
City of Smyrna 33,934,318 38,851,214 38,842,695 - 38,842,695 99.98%
Program Total $ 492,068,482 $ 614,188,703 $ 532,719,529 $ 27,132,137 $ 559,851,666 91.15%
2016 SPLOST:
Facilities $ 23,228,600 $ 23,428,447 $ 5,167,346 $ 4,240,977 $ 9,408,323 40.16%
Libraries 23,203,167 28,553,167 10,516,785 2,353,389 12,870,174 45.07%
Technology 30,079,000 30,079,000 492,608 2,045,055 2,537,663 8.44%
Parks 77,508,779 76,158,779 10,789,960 28,396,913 39,186,873 51.45%
Public Health 6,500,000 7,835,728 5,634,341 2,201,422 7,835,763 100.00%
Public Safety 115,051,584 125,300,232 39,661,600 22,507,911 62,169,511 49.62%
Senior Services 2,201,580 2,201,580 1,198,347 955,092 2,153,439 97.81%
Transportation:
Cobb County 287,331,467 364,179,683 80,701,451 56,893,291 137,594,742 37.78%
City of Acworth 21,208,827 21,208,827 6,984,585 4,205,725 11,190,310 52.76%
City of Austell 6,725,280 6,725,280 2,214,798 1,333,628 3,548,426 52.76%
City of Kennesaw 31,602,891 31,602,891 10,407,604 6,266,875 16,674,479 52.76%
City of Marietta 58,353,902 58,353,902 19,217,366 11,571,519 30,788,885 52.76%
City of Powder Springs 14,231,720 14,231,720 4,686,853 2,822,160 7,509,013 52.76%
City of Smyrna 52,773,203 52,773,203 17,379,506 10,768,423 28,147,929 53.34%
Program Total $ 750,000,000 $ 842,632,439 $ 215,053,150 $ 156,562,380 $ 371,615,530 44.10%
(1) As revised
158
Cobb County, Georgia
Water and Sewer Enterprise Fund
Comparative Statements of Revenues and Expenses
For the Fiscal Years Ended September 30, 2018 and 2017
2018 2017
Operating revenues:
Water sales $ 92,177,941 $ 94,229,181
Sewer sales 102,204,599 102,518,286
Water connection charges 4,771,321 4,599,064
Sewer connection charges 1,600,510 1,453,887
Other 838,688 757,125
Total operating revenues 201,593,059 203,557,543
Operating expenses:
Administrative 24,066,707 22,568,926
Engineering 2,837,765 2,697,507
Water operations 66,565,391 72,451,714
Sewer operations 43,483,440 45,700,353
Total operating expenses 136,953,303 143,418,500
Operating income before depreciation 64,639,756 60,139,043
Less depreciation (54,419,095) (42,621,083)
Operating income 10,220,661 17,517,960
Nonoperating revenues (expenses):
Interest income 644,241 356,749
Interest and fiscal charges (4,872,294) (5,269,731)
Amortization 640,722 640,722
Gain from sale of capital assets 140,396 22,183
Total nonoperating revenues (expenses) (3,446,935) (4,250,077)
Net income before transfers and capital contributions 6,773,726 13,267,883
Capital contributions 17,991,751 16,893,523
Total capital contributions 17,991,751 16,893,523
Transfers:
Transfers in 80,518 24,912
Transfers out (21,845,936) (21,648,338)
Total transfers (21,765,418) (21,623,426)
Change in net position $ 3,000,059 $ 8,537,980
Note: The comparative financial statement above has been prepared in order to meet continuing disclosure
requirements as set forth in the Security and Exchange Commission's Rule 15c2-12(b)(5).
159
- Cover and back.pdf
- 00-BB20192020 frontcover
- 00- TOC
- BB 20192020 draft7
- Section 1-6 plus Admin CommDev Elected
- Section1 Intro minus TOC
- 02-BB20192020 BOC and Map
- 03-Acknowledgements
- 04-BB20192020 CAFR cert
- 05-OrgChart_Aug2018
- Section 2 TheFinePrint
- 00-TAB The Fine Print
- 01-Letter from chairman
- 02-Budget Message FY2019-2020 Biennial Book-FINAL
- 03-County Mission
- 04-County Vision
- 05-Budget Plan and Process
- 06-Budget Calendar
- 07-Strategic Plan
- 08-Policies and Procedures
- 09-Destination Success-FY2019-2020-REVISED 11-29-18
- 10-Understanding Your Cobb County Property Tax Bill
- Section 3 JusttheFacts
- 00-TAB Just the Facts
- 01-History of Cobb (revised 11.28.18)
- 02-Prior Year Highlights rev 11.29
- Section 4 OntheJob
- TAB On the Job
- 1-Positions and Benefits
- 2-Full-Time Classification Pay Schedule
- 3-Part-Time Classification Pay Schedule
- Section5 BottomLine
- TAB Bottom Line
- 1-Operating Budgets Summary-REVIEWED
- 2-General Fund Overview-REVIEWED
- 3-Claims Fund Overview-REVIEWED
- 4-Debt Services Fund--REVISED 11-29-18
- 5-E911 Fund-REVIEWED
- 6-Fire Fund Overview-REVIEWED
- 7-Solid Waste Fund Overview-REVIEWED
- 8- Transit Operating Fund Overview-REVIEWED 11-27-18
- 9-Water Fund Overview -REVIEWED
- 10-Other Operating Funds Summary-REVIEWED
- 11-Capital Budgets Summary-REVIEWED
- 12-Capital Projects Fund REVIEWED 11-27-18
- 13-Water RE&I Fund Overview REVIEWED 11-27-18
- 14-Water SDF Fund Overview REVIEWED 11-27-18
- 00-TAB Dept Info
- 0-Fund-Dept Matrix 11.28.18
- Agency Section 6 Admin
- Agency Page - Administration (revised 11.28.18)
- Administration - Communications
- Administration - County Attorney
- Administration - County Clerk
- Administration - County Manager
- Administration - CSBG
- Administration - Debt Services Fund
- Administration - Ethics Board
- Administration - Finance
- Administration - General Fund Administration & Contingency
- Administration - Human Resources
- Administration - Internal Audit
- Administration - Medical Examiner
- Administration - Other Government & Non-Profit
- Administration - Risk Management
- Agency Section 6 Comm Dev
- Agency Page - Community Development
- Community Development - Administration
- Community Development - Business License
- Community Development - Code Enforcement
- Community Development - Development & Inspections
- Community Development - Economic Development
- Community Development - Erosion Control
- Community Development - Hotel Motel Tax Fund
- Community Development - Planning & GIS (revised 11.27.18)
- Community Development - Zoning
- Agency Section 6 Elected
- Agency Page - Elected
- Elected - Board of Commission (BOC)
- Elected - Circuit Defender
- Elected - Clerk of State Court
- Elected - Clerk of Superior Court - Board of Equalization (BOE)
- Elected - Clerk of Superior Court
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- Elected - Solicitor
- Elected - State Court DUI
- Elected - State Court
- Elected - Superior Court
- Elected - Tax Commissioner
- Section7-9
- Agency Section 6 Public Safety
- Agency Page - Department of Public Safety
- DPS - Administration
- DPS - Animal Services
- DPS - EMA
- DPS - E-911
- DPS - Fire
- DPS - Police
- DPS - 800 MHz
- DPS - Safety Village
- Agency Section 6 Public Services
- Agency Page - Public Services (revised 11.28.18)
- PSA - Public Services Agency - Admin
- PSA - Elections
- PSA - Extension Services
- PSA - Golf Course Fund
- PSA - Government Service Center
- PSA - Library
- PSA - PARKS
- PSA - Senior Services
- PSA - SOLID WASTE
- Agency Section 6 Support Services
- Agency Page - Support Services (revised 11.28.18)
- SSA - Support Services Agency
- SSA - Fleet Management
- SSA - Information Services
- SSA - Property Management
- SSA - Property Management - Parking Deck
- SSA - Purchasing
- SSA - Postal Printing Copier & Records Services
- SSA - Tax Assessor
- Agency Section 6 Transportation
- Agency Page - Transportation
- DOT - Administration
- DOT - STREET LIGHT DISTRICT
- DOT - TRANSIT
- Agency Section 6 Water
- Agency Page - Water and Sewer
- Water System
- Section 7 Capital Ideas
- TAB Capital Ideas
- 01 - INTRO AND OVERVIEW
- 02 - CAPITAL FUNDS SUMMARY
- 03 - STADIUM CAPITAL MAINTENANCE TRUST
- 04 - CAPITAL FUND PROJECTS SUMMARY
- 05 - CAPITAL PROJECTS CRS-CIP-OTHER
- 06 - WATER RE&I FUND SUMMARY
- 07 - WATER RE&I ADMINISTRATION
- 08 - WATER RE&I METER INSTALLATION
- 09 - WATER RE&I MISC PROJECTS
- 10 - WATER RE&I SEWER REPLACE
- 11 - WATER RE&I STORMWATER MGMT
- 12 - WATER RE&I RELOCATIONS COUNTY ROADS
- 13 - WATER RE&I RELOCATIONS STATE ROADS
- 14 - WATER RE&I WATERMAIN REPLACEMENTS
- 15 - WATER SDF FUND SUMMARY
- 16 - WATER SDF ADMIN
- 17 - WATER SDF SEWER CONSTRUCTION
- 18 - WATER SDF- TREATMENT PLANT.
- TAB Glossary
- Glossary (revised - sent 11.28.18)
- TAB Frequently Asked Questions
- Frequently asked questions
- BB20192020 backcover
- Board of Commish.pdf
- blank INTENTIONALLY.pdf
- Blank Page
- Blank Page
- Blank Page
- Blank Page
- notes 2 pages 3 29 18.pdf
- 0Note 1. Summary of Significant Accounting Policies
- A. Reporting Entity
- ArtsBridge Foundation, Inc. is a discretely presented component unit of the Cobb-Marietta Coliseum and Exhibit Hall Authority. Accordingly, it is also a component unit of Cobb County. The Foundation is a legally separate corporation organized pursuant...
- 1B1B1B
- 3B3B3B
- Note 1. Summary of Significant Accounting Policies (Continued)
- 4B4B4B
- Note 1. Summary of Significant Accounting Policies (Continued)
- 6B6B6B
- Note 2. Budgetary Information
- 60B58B56BA. Primary Government and Fiduciary Funds
- Custodial credit risk – deposits and investments
- 14B
- 13B12B11B Georgia Fund I AAAf $ 254,749 26 days
- Note 4. Restricted Assets
- 5B14B1Note 5. Capital Assets
- Note 6. Risk Management
- 18B17B16
- 9B1Note 7. Leases
- 9B1Note 7. Leases (Continued)
- Note 8. Short-Term Tax Anticipation Notes
- 22B21B20B Note 8. Short-Term Tax Anticipation Notes (Continued)
- 22B21B20BNote 9. Long-Term Debt
- 60B58B56BA. Primary Government
- B. Business-type Activities
- Note 9. Long-Term Debt (Continued)
- 28B27B25B
- Note 9. Long-Term Debt (Continued)
- 33B
- Note 10. Fund Balance Determinations and Classifications
- Note 10. Fund Balance Determinations and Classifications (Continued)
- 34B34B32B
- Note 10. Fund Balance Determinations and Classifications (Continued)
- 35B34B32
- Note 10. Fund Balance Determinations and Classifications (Continued)
- 5B33BNote 11. Property Taxes
- 38B36B34B Note 12. Tax Abatements
- Note 13. Interfund Balances and Transfers
- 39B36B34B
- 41B39B37B
- 42B40B38B
- 43B41B39BNote 14. Contingent Liabilities
- 44B42B40BNote 15. Deferred Compensation Plan
- 45B43B41B Note 16. Due From Other Governments and Agencies
- 45B43B41B Note 16. Due From Other Governments and Agencies (Continued)
- Note 17. Other Post Employment Benefits
- Plan Description and Provisions
- Note 17. Other Post Employment Benefits (Continued)
- Eligibility
- 50B48B46BSummary of Significant Accounting Policies
- Note 17. Other Post Employment Benefits (Continued)
- Funding Policy
- Note 17. Other Post Employment Benefits (Continued)
- 49B47B45B
- Note 17. Other Post Employment Benefits (Continued)
- Note 17. Other Post Employment Benefits (Continued)
- Note 17. Other Post Employment Benefits (Continued)
- 51B49B47BNote 18. Employee Retirement System
- 51B49B4
- 55B53B51BNote 20. Capital Contributions
- Note 21. Closure and Postclosure Care Costs
- 7B7B7B
- Note 23. Other Commitments
- Note 24. Joint Ventures
- 9B9B9BNote 25. Related Organization
- 9B9B9BNote 26. Excess of Expenditure Over Appropriations
- Note 27. Restatement