Sarasota County Comprehensive Annual Financial Report 2019

Capital Asset and Debt Administration Capital assets. Sarasota County’s investment in capital assets for its governmental and business-type activities, at the end of the current fiscal year, amounted to $2.4 billion (net of accumulated depreciation). This investment in capital assets is comprised of land, land rights, right of ways/easements, building and building improvements, equipment, software, water and timber rights, construction in progress, and infrastructure. Infrastructure consists predominantly of roads and streets (including peripherals) and bridges within governmental activities, and of water and wastewater systems, Stormwater facilities and landfill infrastructure within business-type activities. The County’s total investment in capital assets for the current fiscal year increased by 1.2 percent. Major capital asset events during the current year included:  Demolition and construction of the Venice Public Library was incurred totaling $11.2 million.  Acquisition and improvements to expand the Legacy Trail extension corridor were incurred totaling $30.2 million.  Renovations to County facilities were completed totaling $6.1 million.  County roadway resurfacing and side walk program improvements were completed totaling $15.6 million. Additional information on capital asset activity may be found in Note 6 on pages 104 -107 of this report. Capital Assets, Net of Depreciation (in thousands) Governmental Business-type Activities Activities Total 2019 2018 2019 2018 2019 2018 Land 451,595 $ 418,853 $ 64,588 $ 64,432 $ 516,183 $ 483,285 $ Land rights 925 925 - - 925 925 Right of way/easements 25,770 25,770 735 539 26,505 26,309 Buildings and improvements 179,586 174,478 35,767 38,093 215,353 212,571 Equipment 58,244 49,072 26,739 31,549 84,983 80,621 Infrastructure 637,453 659,476 757,106 766,589 1,394,559 1,426,065 Software 8,478 4,446 - - 8,478 4,446 Water and timber rights - - - 975 - 975 Construction in progress 94,545 86,588 26,239 17,472 120,784 104,060 1,456,596 $ 1,419,608 $ 911,174 $ 919,649 $ 2,367,770 $ 2,339,257 $ 39