Comprehensive Annual Financial Report - Cobb County

Cobb’s population has grown 11.8% since 2000 when approximately 607,751 people resided in the County.
Based on the U.S. Census as of July 2006 and adding a 1.5% growth factor, Cobb’s population is estimated at
689,515. According to the U.S. Census Bureau and the Atlanta Regional Commission, the U.S. population
increase from July 1, 1970 to July 1, 2006 was 45.70%, compared with Georgia’s 103.62% increase for the
same period. In contrast, Cobb County’s population increase for the same period was 245.20%. This makes
Cobb County one of the fastest growing counties in the nation since 1970 even though the growth rate has
declined more recently.
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 689,515
residents living in the 340.2 square mile area include: public safety (fire, EMS, police, 911 emergency, animal
control, and sheriff and detention operations), community development, community services, transportation,
and other general governmental services. The County also provides water, sewer, and solid waste disposal
services to the public.
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, two component
units are included in these financial statements because of their operational and financial relationships to the
County. The Cobb-Marietta Coliseum and Exhibit Hall Authority operates a multi-use exhibit hall and
convention facility in the County. The Cobb County Board of Health provides a variety of health related
services in the County. Additional information on these two 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 eleventh year in a row. 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 coveted independent ratings 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, today Cobb County is the leader in
the metro area employing more than 452,920 within its boundaries. Currently, there are approximately 30,324
businesses licensed in Cobb County The County’s unemployment rate is 3.5% which is lower than both the
state of Georgia (4.7%) and the United States (4.5%).
Although the top ten major employers in the community account for only 12.9% of all those employed in Cobb
County, the national recognition they bring to the County cannot be overstated. There are four Fortune 500
companies that have their headquarters in Cobb County, with 212 international companies having a presence
and contributing to our dynamic business environment. The companies include BlueLinx Holdings, Coca-Cola
Enterprises, Genuine Parts (NAPA), and The Home Depot. Each of these companies represents a different
type of commercial enterprise that has found the environment within the County to be conducive to future
growth.
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