This program consists of funding transfers from the General Fund and the Community Investment Fund to other funds.

Contribution to Community Investment Fund

This fund accounts for sales tax/lottery revenue dedicated to school capital and property tax revenues for debt/capital projects. The Community Investment fund accounts for debt service expenditures and transfers to Capital Projects Funds. The contribution to this fund from the General Fund for FY23 is $44,591,176.

Contribution to Capital Project Fund

This fund accounts for funding for one time capital and deferred maintenance projects for our school systems and county departments. For FY23 the contribution is $10,871,176 from the Community Investment Fund.

Contribution to Landfill Fund

This fund accounts for the operations of the solid waste landfill. Cabarrus County accepts demolition and recycled materials at the landfill. Most funds reserved in this fund are for post-closure expenditures related to future closure of the landfill. Beginning with FY22 the waste management and recycling functions were transferred to this fund from the General fund. Annually a contribution to this fund from the General Fund will be made equal to the cost of the waste management and recycling program. For FY 23 the contribution is $621,872.

Cabarrus Arena and Events Center Special Revenue Fund (SMG)

Transfers to this fund are for the operation and maintenance of the Cabarrus Arena and Events Center. This program is not mandated. The day-to-day operations at the Cabarrus Arena and Events Center are currently being managed by SMG, a private facility management company. The Arena and Events Center Fund is supported by revenue from gate passes, carnival rides and sponsor sales. In addition, it is estimated to receives a contribution of $286,500 from the Cabarrus County Tourism Authority and a contribution of $1,087,826 from the General Fund, an increase of $67,242 from the FY 2022 adopted budget.

Contribution to Pension Trust Fund (OPEB)

This fund provides funding for the Other Post-Employment Benefits (OPEB) Trust. Beginning with FY 2022, $2,000,000 was contributed for the OPEB Trust. GFOA recommends that governments prefund their obligations for postemployment benefits other than pensions (OPEB) once they have determined that a substantial long-term liability has incurred. Making long-term investments to cover these obligations through a separate trust fund should, over time, result in a lower total cost for providing postemployment benefits. For FY 2023 $2,000,000 is being contributed to the pension trust fund.