Sarasota County Comprehensive Annual Financial Report 2019

Fiscal Year Gross Revenues Less: Expenses Net Revenue Available Principal Interest Total Coverage Cash Defeasements (3) 2010 87,994 $ 53,054 $ 34,940 $ 6,230 $ 8,845 $ 15,075 $ 2.32 - $ 2011 94,698 51,366 43,332 5,775 9,155 14,930 2.90 7,650 2012 96,093 50,610 45,483 5,995 9,718 15,713 2.89 - 2013 95,560 53,490 42,070 7,535 9,493 17,028 2.47 - 2014 (6) 102,534 56,709 45,825 8,275 9,446 17,721 2.59 - 2015 106,922 57,304 49,618 8,610 9,746 18,356 2.70 39,145 2016 109,203 57,732 51,471 9,125 7,871 16,996 3.03 48,650 2017 111,984 60,147 51,837 9,325 8,493 17,818 2.91 - 2018 112,789 64,598 48,191 9,525 8,288 17,813 2.71 - 2019 115,321 67,822 47,499 9,740 7,694 17,434 2.72 46,655 Note: Details regarding the County's outstanding debt can be found in the notes to the financial statements. (1) The bond resolution for the Stormwater Special Assessment Revenue Bonds gives the County the option of an extraordinary redemption during the fiscal year. This option was exercised each fiscal year that the bonds were outstanding. (2) Statistical presentation is not intended to reflect legal compliance. Therefore, there may be a difference from the other supplemental schedules section. (3) Represents partial redemption of Utility Revenue Bonds, Series 2002A of $4,210,000 and partial redemption of Utility Revenue Bonds, Series 2002B of $3,440,000. Utility Revenue Refunding Note, Series 2015 fully refunded the Utility System Revenue Bonds, Series 2005A in FY15. The Utility System Revenue Refunding Bonds, Series 2016B fully refunded the Utility System Revenue Bonds, Series 2007 in FY16. The Utility System Revenue Refunding Bonds, Series 2019A fully refunded the Utility System Revenue Bonds, Series 2010 in FY19. (4) The bonded Phillippi Structure/Street basins are no longer assessing for repayment of the 1999 Stormwater Utility Revenue Bonds as pursuant to the bond covenants. (5) Solid Waste Revenue Refunding Note, Series 2015 fully refunded the Solid Waste Revenue Bonds, Series 2005. (6) Effective fiscal year 2014, federal interest reimbursement is no longer included in gross revenue. Debt service interest is net of federal interest reimbursement. Debt Service Utility System Revenue Bonds (2) Self-Supporting Revenue Debt Last Ten Fiscal Years (dollars in thousands) Sarasota County, Florida Pledged-Revenue Coverage 290