Finance

Top Call to Action Icon - default
Annual Comprehensive Financial Reports
View the County audit
Become a Vendor
Learn how to become a Cabarrus County vendor
Purchasing and Contract Postings
View RFQs, RFPs and IFBs

The Finance Department is responsible for maintaining Cabarrus County's accounting and reporting system in accordance with generally accepted accounting principles. The department provides critical information for both financial and strategic planning at all levels of management. It records the receipt and disbursement of County funds, as set forth in the budget ordinance and NC General Statutes.

An integral part of the department's function involves managing cash to maximize investment income while still meeting the organization's cash flow needs. The department also manages capital assets, debt, grants and payroll.

FY24 Major Accomplishments

In June 2024, the County received their third AAA rating. All three rating agencies now rate the County with a triple A rating.
In 2024, the County opened their IT Offices/Emergency Equipment Warehouse and the County’s new Emergency Medical Services Headquarters.
Inspections department performed 28,017 inspections and issued 7,107 permits in Fiscal Year 2024.
Emergency Medical Services reduced their average response time to under 8 minutes.
Cardiac arrest survival rates continued to exceed national standards.
Cabarrus County Parks and Active Living Centers estimate over $283,000 worth of volunteer hours in Fiscal Year 2024.
Cabarrus County in conjunction with the State is working on building a Regional Health Complex in Concord.
Collected over $12 million in child support on behalf of children in Cabarrus County.
Provided over $29 million in American Rescue Plan Act distributions to 52 non-profits since 2022.
Cabarrus County has established an Opioid Response Project to assist the community in the opioid epidemic.

General Obligation Bond Ratings

A bond rating performs the isolated function of credit risk evaluation. There are three major rating agencies for municipal bonds: Moody's Investors Service, S&P Global (formerly Standard & Poor's) and Fitch Ratings. “AAA”

Issuers or issues rated AAA demonstrate the strongest creditworthiness relative to other US municipal or tax-exempt issuers or issues.
Issuers or issues rated Aa demonstrate very strong creditworthiness relative to other US municipal or tax-exempt issuers or issues. Bonds in the Aa, A, and Baa are also assigned "1", "2" or "3" based on the strength of the issue within each category. Accordingly, "A1" would be the strongest group of A securities and "A3" would be the weakest A securities. S&P's ratings are similar except that all letters are capital letter and ratings within a rating category are assigned a "+" for the strongest credits within a group or "-" for the weakest credits within a group.