Sarasota County, Florida Notes to Financial Statements September 30, 2023 3NB OTE 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, 2023 : Beginning Balance Additions Retirements Ending Balance Amounts Due Within One Year Governmental Activities General Obligation Bonds $ 58,257,432 - $ 3,926,183 $ 54,331,249 $ 2,370,000 Revenue Bonds 186,938,516 27,457,628 23,978,406 190,417,738 21,805,000 Commercial Paper debt 25,583,000 - 3,000,000 22,583,000 3,390,000 Notes and loans payable from direct placements 75,704,000 - 17,506,000 58,198,000 17,883,000 Notes and loans payable from direct borrowings 308,134 - 84,512 223,622 90,832 Compensated absences* 28,590,134 22,423,022 14,111,873 36,901,283 27,134,392 Rebatable arbitrage* Leases payable* 6,976 5,097,800 60,651 5,517,328 - 1,034,306 67,627 9,580,822 - 3,533,978 Subscription payable - 9,007,223 - 9,007,223 2,253,466 Claims and judgements** 28,340,248 63,098,500 66,222,936 25,215,812 10,409,676 Total long-term liabilities - governmental activities $ 408,826,240 $ 127,564,352 $ 129,864,216 $ 406,526,376 $ 88,870,344 Beginning Balance Additions Retirements Ending Balance Amounts Due Within One Year Business-type Activities Revenue Bonds $ 384,591,040 $ 43,501,936 $ 6,865,220 $ 421,227,756 $ 4,740,000 Notes and loans payable from direct placements 71,620,000 - 11,230,000 60,390,000 10,005,000 Compensated absences* Leases payable* 2,477,374 93,627 265,101 - 34,854 - 2,707,621 93,627 2.518,087 70,185 Landfill closure* 71,602,159 83,949 46,449,727 25,236,381 391,354 Total long-term liabilities - business-type activities $ 530,834,200 $ 43,850,986 $ 64,579,801 $ 509,655,385 $ 17,724,626 *Compensated absences, rebatable arbitrage, leases payable, subscription payable, and landfill closure are liquidated in the respective funds from which expenses are paid. **Claims and judgements are liquidated in internal service funds. 116
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