Sarasota County, Florida Notes to Financial Statements September 30, 2023 On October 1, 2022, the County entered into a 36-month software subscription. An initial subscription liability of $2,295,568. As of year-end, the value of the liability is $1,694,226. The County is required to make annual payments of $601,342 with an interest rate of 3.2380%. The value of the right-to-use subscription asset is $2,295,568 with accumulated amortization is $702,898. Amount of Subscription Assets As of Fiscal Year-end Asset Class SBITA Asset Value Accumulated Amortization SBITA 11,562,364 $ 1,644,773 $ Total SBITA assets 11,562,364 $ 1,644,773 $ Principal and Interest Requirements to Maturity Fiscal Year Principal Payments Interest Payments Total Payments 2024 2,253,466 290,942 2,544,408 2025 2,169,336 218,189 2,387,525 2026 1,924,926 148,168 2,073,094 2027 1,385,685 86,067 1,471,752 2028 1,273,810 41,246 1,315,056 Governmental Activities 115
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