2023 Sarasota County Annual Comprehensive Financial Report

SARASOTA COUNTY, FLORIDA ANNUAL COMPREHENSIVE FINANCIAL REPORT YEAR ENDED SEPTEMBER 30, 2023 TABLE OF CONTENTS Property Tax Levies and Collections ............................................................................................................................ 283 Property Value, Construction, and Bank Deposits ....................................................................................................... 284 Special Assessment Billings and Collections ............................................................................................................... 285 Coverage of Guaranteed Entitlement for All Counties by Revenue Sharing Trust Fund Receipts for All Counties ......................................................................................................................................... 286 Coverage of Guaranteed Entitlement for Sarasota County by Revenue Sharing Trust Fund Receipts for Sarasota County.................................................................................................................................. 287 State of Florida and Sarasota County Historical Sales Tax Collections....................................................................... 288 State of Florida and Sarasota County Historical Local Government Half-Cent Sales Tax .......................................... 289 Sarasota County and Municipalities Percentage Distributions of Statewide Half-Cent Sales Tax Revenues ............. 291 Debt Capacity: Ratios of Outstanding Debt by Type............................................................................................................................. 292 Ratios of General Bonded Debt Outstanding ............................................................................................................... 294 Direct and Overlapping Governmental Activities Debt ................................................................................................. 295 Legal Debt Margin Information ..................................................................................................................................... 297 Pledged-Revenue Coverage ........................................................................................................................................ 298 Coverage of Maximum Annual Debt Service Requirement by Local Government Half-Cent Sales Tax Revenues ............................................................................................................................... 304 Demographic and Economic Information: Demographic and Economic Statistics ......................................................................................................................... 305 Principal Employers ...................................................................................................................................................... 306 Top Ten Manufacturers ................................................................................................................................................ 307 Miscellaneous Statistics ............................................................................................................................................... 308 Operating Information: Full-Time Equivalent County Government Employees by Function/Program .............................................................. 309 Operating Indicators by Function/Program................................................................................................................... 310 Capital Assets Statistics by Function/Program............................................................................................................. 312 OTHER SUPPLEMENTAL INFORMATION: Summary Schedule of Revenues, Expenditures and Changes in Fund Balances – General Fund................................... 316 Assessed Value of Taxable Property .................................................................................................................................. 317 Pro Forma Debt Service Coverage – Limited Ad Valorem Tax Bonds, Series 2005, Series 2010 and Series 2014......... 318 Commercial Paper - Specific Borrowings ........................................................................................................................... 319 Communication Services Tax Revenue Bonds Series 2010, and Communication Services Tax Revenue Refunding Note, Series 2014 and 2015 Continuing Disclosure..................................................................................................... 320 Infrastructure Sales Surtax Revenue Bonds, Series 2014, 2015 and 2018 Continuing Disclosure and Infrastructure Sales Surtax Revenue Note, 2020......................................................................................................... 321 Pro Forma Debt Service Coverage – Public Improvement Revenue Refunding Bonds, Series 2021A and Series 2021B ................................................................................................................................................................ 323 Historical Collections of Revenues from Revenue Sharing Trust Fund for Counties and Pledged Revenue Sharing Moneys .325 Utility Bond Issue Continuing Disclosure ............................................................................................................................ 326 Schedule of Changes in the County’s Net OPEB Liability and Related Ratios .................................................................. 334 Schedule of Contributions for the County’s OPEB Trust Fund ........................................................................................... 336 Schedule of Changes in the Sheriff’s Total OPEB Liability and Related Ratios................................................................. 338 General Obligation Bonds – Description............................................................................................................................. 341 General Government – Revenue Bonds – Description: Revenue Bond Issues .................................................................................................................................................. 342 Enterprise Funds – Revenue Bonds – Description: 6

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