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 $2.6 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 and timber 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 2.0 percent. Capital Assets, Net of Depreciation (in thousands) Governmental Business-type Activities Activities Total 2021 2020 2021 2020 2021 2020 Land $ 471,975 $ 469,696 $ 64,590 $ 64,662 $ 536,565 $ 534,358 Land rights 925 925 - - 925 925 Right of w ay/easements 31,592 30,730 1,489 1,489 33,081 32,219 Buildings and improvements 225,793 236,412 23,713 25,282 249,506 261,694 Equipment 56,366 54,219 13,204 15,618 69,570 69,837 Inf rastructure 617,292 648,710 803,934 765,791 1,421,226 1,414,501 Sof tw are 6,072 6,842 - - 6,072 6,842 Water and timber rights - - - - - - Construction in progress 187,129 124,666 52,892 60,103 240,021 184,769 Total $ 1,597,144 $ 1,572,200 $ 959,822 $ 932,945 $ 2,556,966 $ 2,505,145 Major capital asset events during the current year included: Renovations to County facilities were completed totaling $4.3 million. County roadway resurfacing and side walk program improvements were completed totaling $14.9 million. Additional information on capital asset activity may be found in Note 6 on pages 107-110 of this report. Long-term debt. At the end of the current fiscal year, Sarasota County had total bonded debt outstanding of $484.3 million. This amount represents $61.0 million of General Obligation bonds secured by the full faith, credit and taxing power of the County and $423.3 million of bonds secured solely by specified revenue sources (revenue bonds). Outstanding Debt (in thousands) Governmental Business-type Activities Activities Total 2021 2020 2021 2020 2021 2020 General Obligations $ 61,030 $ 63,512 $ - $ - $ 61,030 $ 63,512 Commercial paper 42,288 33,649 - 9,000 42,288 42,649 Notes payable 93,223 107,089 87,045 70,236 180,268 177,325 Non-self supporting revenue bonds 182,793 203,710 - - 182,793 203,710 Self supporting revenue bonds - - 240,474 160,833 240,474 160,833 Total $ 379,334 $ 407,960 $ 327,519 $ 240,069 $ 706,853 $ 648,029 Sarasota County’s total debt increased by $58.8 million, or 9.1 percent during the current fiscal year. 39
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