Sarasota County, Florida Notes to Financial Statements September 30, 2022 3NB OTE 7. LONG-TERM DEBT A. Changes in Long-term Liabilities The following is a summary of changes in long-term liabilities for the year ended September 30, 2022: Beginning Balance Additions Retirements Ending Balance Amounts Due Within One Year Governmental Activities General Obligation Bonds $ 61,029,562 - $ 2,772,130 $ 58,257,432 $ 2,260,000 Revenue Bonds 182,793,432 41,138,024 36,992,940 186,938,516 21,045,000 Commercial Paper debt 42,288,000 13,126,000 29,831,000 25,583,000 1,867,000 Notes and loans payable from direct placements 92,836,000 - 17,132,000 75,704,000 17,506,000 Notes and loans payable from direct borrowings 386,672 - 78,538 308,134 84,513 Compensated absences* 28,435,893 13,871,466 13,717,225 28,590,134 20,854,883 Rebatable arbitrage* Leases payable* 3,111 - 3,865 5,097,800 - - 6,976 5,097,800 - - Claims and judgements** 25,472,959 59,900,705 57,033,416 28,340,248 12,147,539 Total long-term liabilities - governmental activities $ 433,245,629 $ 133,137,860 $ 157,557,249 $ 408,826,240 $ 75,764,935 Beginning Balance Additions Retirements Ending Balance Amounts Due Within One Year Business-type Activities Revenue Bonds $ 240,473,816 $ 149,323,499 $ 5,206,275 $ 384,591,040 $ 4,695,000 Commercial paper debt - 47,372,000 47,372,000 - - Notes and loans payable from direct placements 87,045,000 - 15,425,000 71,620,000 11,230,000 Compensated absences* Leases payable* 2,304,778 - 197,854 93,627 25,258 - 2,477,374 93,627 2.303,957 - Landfill closure* 36,834,241 35,108,196 340,278 71,602,159 375,940 Total long-term liabilities - business-type activities $ 366,657,835 $ 232,095,176 $ 68,368,811 $ 530,384,200 $ 18,604,897 *Compensated absences are liquidated in the respective funds fund which expenses are paid with the largest amount in the General Fund. Rebatable arbitrage, leases payable and landfill closure are liquidated in the respective funds from which expenses are paid. **Claims and judgments are liquidated in internal service funds. 115
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