Sarasota County, Florida Notes to Financial Statements September 30, 2024 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, 2024 : Beginning Balance Additions Retirements Ending Balance Amounts Due Within One Year Governmental Activities General Obligation Bonds $ 54,331,249 - - $ 3,151,740 $ 51,179,509 $ 2,495,000 Revenue Bonds 190,417,738 217,614,417 25,022,826 383,009,329 12,125,000 Commercial Paper debt 22,583,000 4,102,000 3,390,000 23,295,000 2,764,000 Notes and loans payable from direct placements 58,198,000 12,000,000 19,159,000 51,039,000 11,911,438 Notes and loans payable from direct borrowings 223,622 - 90,832 132,790 97,514 Compensated absences* 36,901,283 19,895,761 16,878,724 39,918,320 29,643,861 Rebatable arbitrage* Leases payable* 67,627 9,580,822 1,195,103 3,211,073 51,331 3,936,870 1,211,399 8,855,025 - 3,718,027 Subscription payable 9,007,223 - 2,253,466 6,753,757 2,169,336 Claims and judgements** 25,215,812 73,772,109 68,053,146 30,934,775 13,655,136 Total long-term liabilities - governmental activities $ 406,526,376 $ 331,790,463 $ 141,987,935 $ 596,328,904 $ 78,579,312 Beginning Balance Additions Retirements Ending Balance Amounts Due Within One Year Business-type Activities Revenue Bonds $ 421,227,756 $ 18,083,498 $ 7,615,583 $ 431,695,671 $ 7,365,000 Notes and loans payable from direct placements 60,390,000 - 10,005,000 50,385,000 6,045,000 Compensated absences* Leases payable* 2,707,621 93,627 19,922 - 31,404 93,627 2,696,139 - 2,507,408 - Landfill closure* 25,236,381 7,622,046 365,795 32,492,632 418,748 Total long-term liabilities - business-type activities $ 509,655,385 $ 25,725,466 $ 18,111,409 $ 517,269,442 $ 16,336,156 *Compensated absences, rebatable arbitrage, leases payable, subscription payable, and landfill closure are liquidated in the respective funds from which expenses are paid. **Claims and judgements are liquidated in internal service funds. 118
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