Sarasota County Comprehensive Annual Financial Report 2019

Governmental Business-type Activities Activities Total Sarasota County, Florida Statement of Net Position September 30, 2019 LIABILITIES Current liabilities: Accounts payable 8,541,139 $ 4,090,550 $ 12,631,689 $ Wages and benefits payable 12,803,057 1,389,372 14,192,429 Contracts and retainages payable 27,844,935 9,729,415 37,574,350 Intergovernmental payable 11,224,187 3,528 11,227,715 Compensated absences 19,057,219 1,957,989 21,015,208 Notes and loans payable 13,532,555 15,113,394 28,645,949 Commercial paper payable 511,000 3,000,000 3,511,000 Bonds payable 18,215,000 1,870,000 20,085,000 Unearned revenue 2,676,802 2,045,126 4,721,928 Claims and judgments payable 9,962,227 - 9,962,227 Net pension liability 1,282,323 94,714 1,377,037 Total current liabilities payable from unrestricted assets 125,650,444 39,294,088 164,944,532 Current liabilities payable from restricted assets: Accounts payable - 40,297 40,297 Contracts and retainages payable - 1,110,130 1,110,130 Customer deposits - 2,860,537 2,860,537 Interest payable - 241,881 241,881 Landfill closure - 357,410 357,410 Total current liabilities payable from restricted assets - 4,610,255 4,610,255 Total current liabilities 125,650,444 43,904,343 169,554,787 Noncurrent liabilities: Rebatable arbitrage 9,844 - 9,844 Notes and loans payable 98,018,564 70,235,926 168,254,490 Commercial paper payable 17,481,000 9,000,000 26,481,000 Bonds payable (net) 219,908,685 161,999,188 381,907,873 Net pension liability 367,442,308 22,971,579 390,413,887 Total OPEB liability 9,205,549 - 9,205,549 Compensated absences 8,623,080 147,376 8,770,456 Claims and judgments 17,167,826 - 17,167,826 Landfill closure - 30,956,083 30,956,083 Total noncurrent liabilities 737,856,856 295,310,152 1,033,167,008 Total liabilities 863,507,300 339,214,495 1,202,721,795 DEFERRED INFLOWS OF RESOURCES Taxes received in advance 2,764,336 - 2,764,336 Deferred amounts on debt refundings - 113,994 113,994 Deferred amounts for pensions 30,761,016 1,958,126 32,719,142 Deferred amounts for OPEB 3,625,087 829,076 4,454,163 Total deferred inflows of resources 37,150,439 2,901,196 40,051,635 NET POSITION Net investment in capital assets 1,130,271,679 673,062,611 1,803,334,290 Restricted for capital projects 162,890,010 31,463,113 194,353,123 Restricted for special revenues-other 164,548,498 - 164,548,498 Restricted for debt service 2,732,484 - 2,732,484 Restricted for renewal and replacement - 2,500,000 2,500,000 Restricted for other purposes nonexpendable 1,504,356 - 1,504,356 Restricted for other purposes 1,584,302 1,851,170 3,435,472 Unrestricted (223,454,415) 350,061,264 126,606,849 Total net position 1,240,076,914 $ 1,058,938,158 $ 2,299,015,072 $ 45