2021 Annual Comprehensive Financial Report for Sarasota County

Sarasota County, Florida Pledged-Revenue Coverage Non-Self Supporting Revenue Debt Last Ten Fiscal Years (dollars in thousands) Capital Improvement Revenue Refunding Bonds, Series 2002 & 1st Guaranteed Entitlement Revenue Refunding Note (4) Second Guaranteed Entitlement Revenue Bonds (5) Debt Service Debt Service First Second Guaranteed Guaranteed Fiscal Entitlement Entitlement Year Revenues Principal Interest Coverage Refunding Revenues Principal Interest Coverage 2012 $ 1,120 $ - $ 147 7.62 $ 6,737 $ 1,148 $ - $ - - 2013 1,120 810 93 1.24 - 1,148 - - - 2014 1,120 820 73 1.25 - 1,148 320 751 1.07 2015 1,120 835 61 1.25 - 1,148 335 744 1.06 2016 1,120 845 49 1.25 - 1,148 340 734 1.07 2017 1,120 855 37 1.26 - 1,148 355 724 1.06 2018 1,120 875 25 1.24 - 1,148 365 713 1.06 2019 1,120 885 13 1.25 - 1,148 375 702 1.07 2020 - - - - - 1,148 385 691 1.07 2021 - - - - - 1,148 395 679 1.07 Note: Details regarding the County's outstanding debt can be found in the notes to the financial statements. (1) Capital Improvement Revenue Bonds and Capital Improvement Revenue Refunding Bonds, except for the 2002 Series, are secured by a lien upon and an irrevocable pledge of all the monies received by the County from the Local Government Half-Cent Sales Tax distributed to the County pursuant to Chapter 218, Part VI Florida Statutes. (2) Infrastructure Sales Surtax Revenue Refunding Bonds, Series 2014 and 2015 were issued to advance refund the Infrastructure Sales Surtax Bonds, Series 2008B maturing on or after Oct. 1, 2018 and Series 2008A maturing on or after Oct. 1, 2019, respectively. (3) Limited Ad Valorem Tax Refunding Bond, Series 2014 was issued to advance refund the Limited Ad Valorem Bonds, Series 2008 maturing on or after Oct. 1, 2019. (4) Capital Improvement Refunding Revenue Bonds, Series 2002 and Sales Tax Revenue Bonds, Series 2002 were refunded in FY12. 1st Guaranteed Entitlement Revenue Refunding Note principal payments began in FY13, and matured in FY19. (5) Second Guaranteed Entitlement Revenue Bonds, Series 2013 were issued in FY14. (6) CST Revenue Refunding Note, Series 2014 was issued to advance refund the CST Revenue Bonds, 2005A and 2005B maturing on or after October 1, 2016. CST Revenue Refunding Note, Series 2015 was issued to advance refund the CST Revenue Bonds, Series 2006 maturing on or after Oct. 1, 2019. (7) Five-Cent Local Option Fuel Tax Revenue Refunding Note was issued in FY14 to advance refund the Five-Cent Local Option Fuel Tax Revenue Bonds, Series 2005 maturing beginning October, 1, 2016. 280

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