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 (19.8 percent) represents resources that are subject to external restrictions on how they may be used. Unrestricted net position ($268.7 million) may be used to meet the government’s ongoing obligations to citizens and creditors. Governmental Activities Business-Type Activities Total 2024 2023 2024 2023 2024 2023 Current And Other Assets $ 1,097,954 $ 866,509 $ 727,477 $ 727,519 $ 1,825,431 $ 1,594,028 Capital Assets 1,799,717 1,684,999 1,270,323 1,113,103 3,070,040 2,798,102 Total Assets 2,897,671 2,551,508 1,997,800 1,840,622 4,895,471 4,392,130 Deferred Outflows Of Resources 130,138 115,712 13,889 13,781 144,027 129,493 Long-Term Liabilities 939,081 748,606 533,065 522,483 1,472,146 1,271,089 Other Liabilities 210,924 206,002 71,368 58,923 282,292 264,925 Total Liabilities 1,150,005 954,608 604,433 581,406 1,754,438 1,536,014 Deferred Inflows Of Resources 48,455 83,948 4,234 2,658 52,689 86,606 Net Investment In Capital Assets 1,442,669 1,373,235 879,850 792,545 2,322,519 2,165,780 Restricted 626,004 493,290 15,157 20,295 641,161 513,585 Unrestricted (Deficit) (239,324) (237,861) 508,015 457,500 268,691 219,639 Total Net Position $ 1,829,349 $ 1,628,664 $ 1,403,022 $ 1,270,340 $ 3,232,371 $ 2,899,004 FINANCIAL INFORMATION SUMMARY 14 IMPACT Report 2024 CONDENSED STATEMENT OF NET POSITION as of September 30, 2024 (in thousands) 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 10 30 40 50 70 90 60 80 100 110 130 120 140 Storm Water Solid Waste Utility Internal Service Emergency Services Planning and Development General Fund $5.0M $36.0M $30.0M $25.8M $24.2M $7.4M $140.0M 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, 2024. COUNTY RESERVES NET POSITION AT A GLANCE
RkJQdWJsaXNoZXIy MzM3Mjg=