Capital Asset and Debt Administration Capital assets. Sarasota County’s investment in capital assets for its governmental and business-type activities, at the end of the current fiscal year, amounted to $3.1 billion (net of accumulated depreciation). This investment in capital assets is comprised of land, land rights, right of ways/easements, building and building improvements, equipment, software, water rights, construction in progress, and infrastructure. Infrastructure consists predominantly of roads and streets (including peripherals) and bridges within governmental activities, and of water and wastewater systems, Stormwater facilities and landfill infrastructure within business-type activities. The County’s total investment in capital assets for the current fiscal year increased by 9.7 percent. Major capital asset events during the current year included: The County contributed $20.0 million towards building the new Mote Marine Science Education Aquarium. The County completed a $15.7 million the Dona Bay Watershed Restoration Project. Sarasota County is currently constructing a New Administration Center, South County Court Remodel, Supervisor of Elections Administration Facility, and Sheriff Helicopter upgrade that increased construction in progress during fiscal year 2024. Additional information on capital asset activity may be found in Note 6 on pages 109-117 of this report. Long-term debt. At the end of the current fiscal year, Sarasota County had total bonded debt outstanding of $865.9 million. This amount represents $51.2 million of General Obligation bonds secured by the full faith, credit and taxing power of the County and $814.7 million of bonds secured solely by specified revenue sources (revenue bonds). Capital Assets, Net of Depreciation (in thousands) Governmental Business-type Activities Activities Total 2024 2023 2024 2023 2024 2023 Land $ 491,155 $ 485,468 $ 64,279 $ 64,254 $ 555,434 $ 549,722 Land rights 925 925 - - 925 925 Right of way/easements 41,889 38,977 2,339 1,214 44,228 40,191 Buildings and improvements 250,168 252, 523 18,004 19,710 268,172 272,233 Equipment 71,701 57,263 12,048 7,770 83,749 65,033 Infrastructure 660,601 640, 481 908,606 826,399 1,569,207 1,466,880 Software 2,267 3,660 - - 2,267 3,660 Right-to-use leased land assets 11 - - - 11 - Right-to-use leased building assets 6,190 - - - 6,190 - Right-to-use leased equipment assets 2,120 8,763 - 9 3 2,120 8,856 Right-to-use subscription assets 7,376 9,918 - - 7,376 9,918 Construction in progress 265,314 187, 021 265,047 193,663 530,361 380,684 Total $ 1,799,717 1,684,999 $ $ 1,270,323 1,113,103 $ $ 3,070,040 2,798,102 $ (in thousands) Governmental Business-type Activities Activities Total 2024 2023 2024 2023 2024 2023 General Obligations $ 51,180 $ 54,331 - $ - $ $ 51,180 $ 54,331 Commercial paper 23,295 22,583 - - 23,295 22,583 Notes payable 51,172 58,422 50,385 60,390 101,557 118,812 Non-self supporting revenue bonds 383,009 190,418 - - 383,009 190,418 Self supporting revenue bonds - - 431,696 421,228 431,696 421,228 Total $ 508,656 $ 325,754 $ 482,081 $ 481,618 $ 990,737 $ 807,372 39
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