Sarasota County Comprehensive Annual Financial Report 2019

Sarasota County, Florida Statement of Net Position Proprietary Funds September 30, 2019 Major Major Major Utility Solid Waste Stormwater System System Utility LIABILITIES Current unrestricted liabilities: Accounts payable 3,999,491 $ 50,472 $ 28,987 $ Wages and benefits payable 571,150 108,132 247,964 Contracts and retainages payable 3,807,771 4,060,894 717,210 Intergovernmental payable 3,528 - - Compensated absences 904,428 154,827 388,416 Notes and loans payable 12,373,394 2,740,000 - Revenue bonds payable 1,870,000 - - Commercial paper payable 3,000,000 - - Unearned revenue 2,045,124 - - Claims and judgments payable - - - Net pension liability 39,519 6,587 16,319 Total current liabilities payable from unrestricted assets 28,614,405 7,120,912 1,398,896 Current liabilities payable from restricted assets: Accounts payable 40,297 - - Contracts and retainages payable 971,517 - 138,613 Customer deposits 2,100,410 760,127 - Interest payable 241,881 - - Landfill closure - 357,410 - Total current liabilities payable from restricted assets 3,354,105 1,117,537 138,613 Total current liabilities 31,968,510 8,238,449 1,537,509 Non-current liabilities: Notes and loans payable 61,595,926 8,640,000 - Revenue bonds payable (net) 161,999,188 - - Commercial paper payable 9,000,000 - - Net pension liability 9,584,798 1,597,474 3,957,978 Compensated absences 68,075 11,654 29,236 Claims and judgments - - - Landfill closure - 30,956,083 - Total non-current liabilities 242,247,987 41,205,211 3,987,214 Total liabilities 274,216,497 49,443,660 5,524,723 DEFERRED INFLOWS OF RESOURCES Deferred amounts on debt refundings 113,994 - - Deferred amounts for pensions 817,020 136,171 337,383 Deferred amounts for OPEB 310,259 53,466 122,026 Total deferred inflows of resources 1,241,273 189,637 459,409 NET POSITION Net investment in capital assets 463,860,708 83,575,033 97,652,156 Restricted for capital projects 28,821,554 - 2,641,559 Restricted for renewal and replacement 2,000,000 500,000 - Restricted for other purposes 1,851,170 - - Unrestricted 156,076,262 59,101,130 22,096,636 Total net position 652,609,694 $ 143,176,163 $ 122,390,351 $ The notes to the financial statements are an integral part of this statement. Business-type Activities Enterprise Funds 62