Sarasota County, Florida Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position September 30, 2021 Total fund balances - total governmental funds $ 585,107,474 Amounts reported for governmental activities in the statement of net position are different because: Capital assets used in governmental activities are not financial resources and therefore are not reported in the funds Nondepreciable capital assets Depreciable capital assets Internal Service $ 691,621,821 905,521,950 (48,407,123) 1,548,736,648 Net OPEB asset, net of internal service funds 3,329,643 Internal service funds are used by management to charge the costs of certain activities, such as insurance and fleet, to individual funds. The assets and liabilities of the internal service funds are included in governmental activities in the statement of net position. Amounts are payable to business-type funds resulting from internal service and indirect expense eliminations. 108,735,448 (137,294,420) Deferred amounts on debt refundings Deferred outflows on pensions, net of internal service funds Deferred outflows on OPEB, net of internal service funds Deferred unavailable revenues 6,470,114 80,492,921 4,690,615 1,156,257 Long-term liabilities are not due and payable in the current period, and therefore are not reported in the funds. Contracts payable Bonds payable Less: Issuance discounts (amortized as interest expense) Plus: Issuance premium (amortized as interest expense) Net pension liability, net of internal service funds Net OPEB liability, net of internal service funds GO Bonds payable Commercial paper payable Notes payable Rebatable arbitrage Compensated absences, net of internal service funds Deferred inflows on pensions, net of internal service funds Deferred inflows on OPEB, net of internal service funds (237,279) (170,480,000) 78,130 (18,686,124) (137,549,353) (11,795,269) (54,735,000) (42,288,000) (93,222,672) (3,111) (26,900,845) (210,534,766) (3,729,434) Net position of governmental activities $ 1,431,340,977 The notes to the financial statements are an integral part of this statement. 51
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