3B Sarasota County, Florida Notes to Financial Statements September 30, 2021 NOTE 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, 2021: Amounts Beginning Ending Due Within Balance Additions Retirements Balance One Year Governmental Activities General obligation Bonds $ 63,512,298 $ - $ 2,482,736 $ 61,029,562 $ 2,155,000 Revenue Bonds 203,709,815 - 20,916,383 182,793,432 19,275,000 Commercial Paper debt 33,649,000 15,085,000 6,446,000 42,288,000 5,541,000 Notes and loans payable from direct placements 106,629,000 - 13,793,000 92,836,000 17,132,000 Notes and loans payable from direct borrowings 459,563 - 72,891 386,672 78,538 Compensated absences* 29,936,665 24,361,346 25,862,118 28,435,893 20,881,802 Rebatable arbitrage* 28,123 3,111 28,123 3,111 - Claims and judgements** 29,898,505 47,324,070 51,749,616 25,472,959 8,537,478 Total long-term liabilities - governmental activities $ 467,822,969 $ 86,773,527 $ 121,350,867 $ 433,245,629 $ 73,600,818 Amounts Beginning Balance Additions Retirements Ending Balance Due Within One Year Business-type Activities Revenue Bonds $ 160,833,075 $125,982,169 $ 46,341,428 $ 240,473,816 $ 3,150,000 Commercial paper debt 9,000,000 - 9,000,000 - - Notes and loans payable from direct placements 37,235,000 68,715,000 18,905,000 87,045,000 15,425,000 Notes and loans payable from direct borrowings 33,000,926 - 33,000,926 - - Compensated absences* 2,382,475 126,820 204,517 2,304,778 2,143,443 Landfill closure* 34,025,955 3,143,077 334,791 36,834,241 371,482 Total long-term liabilities - business-type activities $ 276,477,431 $ 197,967,066 $ 107,786,662 $ 366,657,835 $ 21,089,925 *Compensated absences, rebatable arbitrage and landfill closure are liquidated in the respective funds from which expenses are paid. **Claims and judgements are liquidated in internal service funds. 111
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