Sarasota County uses internal service funds to account for Fleet Services, Information Technology, Risk Management, Medical Benefits, Workers’ Compensation, Public Works, Field and General Service’s activities, and Sheriff’s Insurance. Because these services predominantly benefit governmental rather than business-type functions, they have been included within governmental activities in the government-wide financial statements. Proprietary funds provide the same type of information as the government-wide financial statements, only in more detail. The proprietary fund statements provide separate information for the Utility System, Solid Waste System, Stormwater Utility and Sarasota County Transit, of which all are considered to be major funds of Sarasota County except for the Transit. The internal service funds are combined into a single, aggregated presentation in the proprietary fund statements. Individual fund data for the internal service funds is provided in the form of combining statements elsewhere in this report. The basic proprietary fund financial statements can be found on pages 62-75 of this report. Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of parties outside the government. Fiduciary funds are not reflected in the government-wide financial statements because the resources of those funds are not available to support Sarasota County’s own programs. The basic fiduciary fund financial statements can be found on pages 76-77 of this report. Notes to the financial statements. The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found on pages 79-155 of this report. Required supplementary information. The required supplementary information (RSI) contains schedules related to the changes and contributions for the County and Sherriff’s other post-employment benefits (OPEB) liability, OPEB’s related ratios and schedule of proportionate share of net pension liability. The required supplementary information section can be found on pages 158-187 of this report. Other Information. The combining statements referred to earlier in connection with the non-major governmental funds and internal service funds can be found on pages 181-255. The statistical section contains selected data regarding financial trends, revenue capacity, debt capacity, demographic and economic conditions, and operating indicators of the County. This section can be found on pages 265-313. The other supplementary information section contains continuing bond disclosures and schedules relating to debt service. This section can be found on pages 316-387. The single audit grants compliance section lists the expenditures of Federal Awards and State Financial Assistance during the fiscal year and presents grant compliance information and auditor reports. This section can be found on pages 394-398. Government-wide Financial Analysis As noted earlier, net position may serve over time as a useful indicator of a government’s financial condition. Assets and deferred outflows exceeded liabilities and deferred inflows by $2.9 billion at the close of the most recent fiscal year for Sarasota County. 31
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