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 (17.7 percent) represents resources that are subject to external restrictions on how they may be used. Unrestricted net position ($219.6 million) may be used to meet the government’s ongoing obligations to citizens and creditors. Governmental Activities Business-Type Activities Total 2023 2022 2023 2022 2023 2022 Current And Other Assets $ 866,509 $ 738,651 $ 727,519 $ 711,139 $ 1,594,028 $ 1,449,790 Capital Assets 1,684,999 1,646,986 1,113,103 1,021,133 2,798,102 2,668,119 Total Assets 2,551,508 2,385,637 1,840,622 1,732,272 4,392,130 4,117,909 Deferred Outflows Of Resources 115,712 100,365 13,781 13,301 129,493 113,666 Long-Term Liabilities 748,606 691,407 522,483 531,845 1,271,089 1,223,252 Other Liabilities 206,002 191,465 58,923 51,331 264,925 242,796 Total Liabilities 954,608 882,872 581,406 583,176 1,536,014 1,466,048 Deferred Inflows Of Resources 83,948 42,468 2,658 1,796 86,606 44,264 Net Investment In Capital Assets 1,373,235 1,299,758 792,545 746,905 2,165,780 2,046,663 Restricted 493,290 414,648 20,295 22,399 513,585 437,047 Unrestricted (Deficit) (237,861) (153,744) 457,500 391,297 219,639 237,553 Total Net Position $ 1,628,664 $ 1,560,662 $ 1,270,340 $ 1,160,601 $ 2,899,004 $ 2,721,263 FINANCIAL INFORMATION SUMMARY 14 Impact Report 2023 CONDENSED STATEMENT OF NET POSITION as of September 30, 2023 (in thousands) $5.1M $36.9M $27.7M $24.5M $19.2M $7.2M $120.0M Contingency/Emergency/Disaster Relief Compensated Absences Budget Stabilization and Economic Uncertainty Reserve Unsafe Structure Demolition 911 Communications Fee Medical Benefits Information Technology Fixed Asset Replacement Reserve Fleet Services Fixed Asset Replacement Reserve Utility System Renewal and Replacement Reserve Solid Waste System Debris Removal Solid Waste System Renewal and Replacement 0 20 40 60 80 100 120 Storm Water Solid Waste Utility Internal Service Emergency Services Planning and Development General Fund According to Resolution No. 2022-198, Sarasota County’s reserve policies are based on sound fiscal principles designed to allow the County to maintain continuity of operations in adverse conditions while being mindful of our fiduciary responsibility to taxpayers, both current and future generations. This chart represents Sarasota County’s reserves as of September 30, 2023. COUNTY RESERVES NET POSITION AT A GLANCE
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