Comprehensive Annual Financial Report

Cover Sheet, Table of Contents

Introductory Section

Organization Chart

List of Principal Officials

Cover - Financial

Independent Auditor's Report

Management's Discussion & Analysis

Basic Financial Statements

Statement of Net Assets

Statement of Activities

Net (Expense) Revenue and Changes in Net Assets

Balance Sheet - Governmental Funds

Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Assets as of June 30, 2006

Statement of Revenues, Expenditures and Changes in Fund Balances

Reconciliation of Statement of Revenues, Expenditures and Changes in Fund Balances of
Governmental Funds to the Statement of Activities

Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - General Fund

Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Social Services Special Revenue Fund

Balance Sheet Proprietary Funds

Statement of Revenues, Expenses and Changes in Fund Net Assets Proprietary Funds for the Fiscal Year Ended June 30, 2006

Statement of Cash Flows Proprietary Funds for the Fiscal Year Ended June 30, 2006

Statement of Fiduciary Net Assets as of June 30, 2006

Notes to Financial Statements as of June 30, 2006 - Note 1 - Summary of Significant Accounting Policies
Notes to Financial Statements (continued) - as of June 30, 2006 - Note 2 -Deposits and Investments
Notes to Financial Statements (continued) - as of June 30, 2006 - Note 4 -Due to/Due From Other Governments
Notes to Financial Statements (continued) - as of June 30, 2006 - Note 5 -Interfund Obligations
Notes to Financial Statements (continued) - as of June 30, 2006 - Note 7 -Employee Benefit Obligations (Continued)
Notes to Financial Statements (continued) - as of June 30, 2006 - Note 7 -Employee Pension Benefit Obligations (Continued)

Notes to Financial Statements (continued) - Note 9 - Capital Leases (Continued)
Notes to Financial Statements (continued) - Note 10 - Long Term Debit (Continued)
Notes to Financial Statements (continued) - Note 12 - Contingent Liabilities (Continued)
Notes to Financial Statements (continued) - Note 13 - Capital Assets (Continued)
Notes to Financial Statements (continued) - Note 14, 15, 16 & 17 - Landfill Closure and Post

Closure Care Cost; Risk Management; Jointly Governed Organizations; Excess of Expenditures over Appropriation (Continued)

Notes to Financial Statements (continued) - Note 18 & 19 - Fund Balance/Retained Earnings Deficit; Reserved amd Designated Fund Equity (Continued)

Notes to Financial Statements (continued) - Note 20 - Restatement of Net Assets (Continued)

Annual Financial Report for the Fiscal Year ended June 30, 2006

Schedule of Revenues, Expenditures and Changes in Fund Balance and Actual Capital Proect Fund for the Fiscal Year ended June 30, 2006
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Debt Services Fund for the fiscal Year ended June 30, 2006

Non-Major Governmental Funds - Special Revenue Funds
Combining Balance Sheet - Non - Major Government Funds
Non-Major Governmental Funds - Special Revenue Funds

Schedule of Revenues, Expenditures and Changes in Fund Balance-Budget and Actual Comprehensve Services Act Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance-Budget and Actual E-911 System Tax Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance-Budget and Actual Courthouse Maintenance Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance-Budget and Actual Housing Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance-Budget and Actual Tourism Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance-Budget and Actual Industrial Development Authority Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance-Budget and Actual Sheriff's Grants Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance-Budget and Actual Proffers Fund

Combining Balance Sheet Discretely Present Component Unit - Caroline County School Board
Reconcilliation of the Combining Balance Sheet of Discretely Presented Component Unit - Caroline County School Board to the Statement of Net Assets

Combining Statement of Revenues, Expenditures and Changes in Fund Balances Discretely Presented Component Unit - Caroline County School Board

Reconconcilliaton of Statement of Revenues, Expenditures, and Changes in Fund Balances of Discretely Presented Component Unit - Carolline County School Board

Schedules of Revenue, Expenditures and Changes in Fund Balance-Budget and Actual Discretely Presented Component Unit - Caroline County School Board - Operating Fund

Schedules of Revenue, Expenditures and Changes in Fund Balance-Budget and Actual Discretely Presented Component Unit - Caroline County School Board - Grant Fund

Schedules of Revenue, Expenditures and Changes in Fund Balance-Budget and Actual Discretely Presented Component Unit - Caroline County School Board - Cafeteria Fund

Schedules of Revenue, Expenditures and Changes in Fund Balance-Budget and Actual Discretely Presented Component Unit - Caroline County School Board - Capital Projects Fund

County of Caroline, Virginia - Annual Financial Report for the Fiscal Year Ended June 30, 2006 - Statistical Section Cover Sheet

Net Assets by Component - Last Four Fiscal Years (accrual basis of accounting)
Changes in Net Assets - Last Four Fiscal Years (accrual basis of accounting)

Fund Balances - Governmental Funds - Last Ten Fiscal Years - (modified accrual basis of accounting)

Changes in Fund Balances - Governmental Funds - Last Ten Fiscal Years - (modified accrual basis of accounting)

Assessed Value and Estimated Actual Value of Taxable Property - Last Ten Fiscal Years Property Tax Rates - Per $100 of Assessed Value - Last Ten Fiscal Years

Principal Property Taxpayers - Current Year and Five Years Ago

Property Tax Levies and Collections Last Ten Fiscal Years

Ratio of Outstanding Debt by Type Last Ten Fiscal Years

Ratios of General Bonded Debt Outstanding Last Ten Fiscal Years

Demographic and Economic Statistics Last Ten Fiscal Years

Number of Budgeted Full Time County Employees, by Department and Constitutional Officer - Last Eight Fiscal Years

Annual Financial Report, For the Fiscal Year Ended June 30, 2006 - Compliance Section

Report on Internal Control Over Financial Reporting and on Compliance and other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards.

Report on Compliance with Requirements Applicable to Each Major Program and Internal Control over Compliance in Accordance with OMB Circular A-133

Schedule of Expenditures of Federal Awards For the Year Ended June 30, 2006

Notes to Schedule of Expenditures of Federal Awards

Schedule of Findings and Questioned Costs for the Year ended June 30, 2006.