The assets and deferred outflows of resources of Calvert County
Government exceeded its liabilities and deferred inflows of resources
at the close of this fiscal year by $250.5 million (net position); $43.7
of this amount is attributable to the business‐type activities that
include the Water and Sewer Fund and the Solid Waste and
Recycling Fund. Of total net position, $195.8 million is the net
investment in capital assets, and $12.2 million is restricted for
specific purposes. The County’s unrestricted net position is a $42.6
million. In fiscal year 2021, the County recorded a net OPEB liability
of $14.1 million. The business‐ type activities ended with an
unrestricted net position of $11.4 million. Included as restricted cash,
for the primary government, is $43.0 million which represents bond
proceeds. The government’s total net position has increased by
$57.7 million; a $56.2 million increase was related to the
governmental activities and $1.4 million was related to the business‐
type activities.
In 2009, the US Securities and Exchange Commission (SEC)
mandated XBRL reporting requirements for quarterly and annual
financial information by public companies and in 2018 the
Commission adopted the more advanced Inline XBRL (iXBRL) for
corporate reporting. The use of the XBRL format has enhanced
financial reporting by public companies through greater
transparency, accessibility, and comparability, leading to benefits
such as lower cost of capital and higher investor interest for
companies, apart from investor protection.
Reference:
Department of Finance. (n.d.). Annual Comprehensive Financial Report
(ACFR). Annual Comprehensive Financial Report (ACFR) | Calvert
County, MD ‐ Official Website. Retrieved August 16, 2022,
from https://calvertcountymd.gov/355/Annual‐Comprehensive‐
Financial‐Report‐AC
CARBON, T. I. (2022, April 28). Annual Comprehensive Financial
Reports (ACFRs) – Leveraging XBRL for US State & Local Financial
Reporting. IRIS CARBON®. https://iriscarbon.com/annual‐
comprehensive‐financial‐reports‐acfrs/
