The following comparative, government-wide Condensed Statement of Activities graph presents the revenues, expenses, and changes in net position. The County’s net position increased by $140.4 million during the current fiscal year. Total revenues increased by $65.0 million and total expenses increased by $60.0 million over last year. A contributor to the increase in revenues is the funding received by the County as part of the American Rescue Plan federal grant. The largest increase in expenses was for landfill closing and post-closure cost. WHAT THE COUNTY OWNS & OWES The Condensed Statement of Net Position, or “Balance Sheet,” is a summary of everything Sarasota County owns (assets) and owes (liabilities), with the difference between the two being net position and is presented as governmental and businesstype activities. It also provides a snapshot of the County’s financial health at the end of the fiscal year. Governmental Activities – Activities primarily supported by tax dollars for services such as libraries, emergency medical, law enforcement and transportation. Business-Type – Those activities that offer goods and services of the County for sale and are intended to be self-supporting, such as utilities, solid waste, stormwater and public transportation system. At the end of the current fiscal year, Sarasota County is able to report positive balances in all three categories of net position, for the government as a whole. NET POSITION AT A GLANCE Net Position – The difference between assets plus deferred outflows of resources and liabilities plus deferred inflows of resources. Net Investment in Capital Assets – The difference between the amount paid for capital assets, such as buildings, and any debt used to acquire those assets, such as loans or mortgages. Restricted – Funds that are not available for use by the County because they must be used for a specific purpose or project as required by law or regulation. Unrestricted – The remaining balance available for use that is not invested in capital assets or restricted. A portion of Sarasota County’s net position (16.1 percent) represents resources that are subject to external restrictions on how they may be used. Unrestricted net position ($237.6 million) may be used to meet the government’s ongoing obligations to citizens and creditors. *Change in Net Position includes transfers not shown in graphs. CONDENSED STATEMENT OF NET POSITION as of September 30, 2022 (in thousands) Governmental Activities Business-Type Activities Total 2022 2021 2022 2021 2022 2021 Current And Other Assets $ 738,651 $ 676,812 $ 711,139 $ 599,816 $ 1,449,790 $ 1,276,628 Capital Assets 1,646,986 1,597,144 1,021,133 959,822 2,668,119 2,556,966 Total Assets 2,385,637 2,273,956 1,732,272 1,559,638 4,117,909 3,833,594 Deferred Outflows Of Resources 100,365 95,547 13,301 14,068 113,666 109,615 Long-Term Liabilities 691,407 515,817 531,845 355,977 1,223,252 871,794 Other Liabilities 191,465 193,195 51,331 51,356 242,796 244,551 Total Liabilities 882,872 709,012 583,176 407,333 1,466,048 1,116,345 Deferred Inflows Of Resources 42,468 229,150 1,796 16,838 44,264 245,988 Net Investment In Capital Assets 1,299,758 1,253,150 746,905 728,899 2,046,663 1,982,049 Restricted 414,648 391,831 22,399 21,586 437,047 413,417 Unrestricted (Deficit) (153,744) (213,640) 391,297 399,050 237,553 185,410 Total Net Position $ 1,560,662 $ 1,431,341 $ 1,160,601 $ 1,149,535 $ 2,721,263 $ 2,580,876 FINANCIAL INFORMATION SUMMARY 14 Impact Report 2022 Impact Report 2022 15 $-100 0 $100 $200 $300 $400 $500 $600 $700 $800 THOUSANDS GOVERNMENTAL ACTIVITIES Last Five Fiscal Years Revenues Revenues Expenses Expenses Change In Net Position* Change In Net Position* 2022 2022 2018 2018 2019 2019 2020 2020 2021 2021 538,210 574,853 715,991 531,253 556,799 590,808 565,405 648,657 711,200 556,111 (10,578) 80,236 (2,492) 111,028 129,321 $50 $100 $150 $200 $250 $300 0 THOUSANDS 213,912 222,123 238,555 191,221 207,553 217,256 257,774 209,521 252,354 252,366 40,226 11,066 35,115 35,454 55,143 BUSINESS-TYPE ACTIVITIES Last Five Fiscal Years CONDENSED STATEMENT OF ACTIVITIES
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