Sarasota County Comprehensive Annual Financial Report 2019

Sarasota County, Florida Statement of Revenues, Expenses and Changes in Fund Net Position Proprietary Funds For the Year Ended September 30, 2019 Major Major Major Utility Solid Waste Stormwater System System Utility OPERATING REVENUES Charges for services 4,767,153 $ 45,178,540 $ 17,093,600 $ Water sales 43,798,083 - - Wastewater treatment charges 62,509,953 - - Other revenue 1,237,703 344,155 60,543 Total operating revenues 112,312,892 45,522,695 17,154,143 OPERATING EXPENSES Personal services 15,371,429 2,739,088 6,300,547 General and administrative 5,801,878 38,890,907 9,641,180 Water treatment and distribution 32,270,125 - - Wastewater collection and treatment 21,098,088 - - Landfill closure and post closure - 2,859,281 - Claims paid - - 1,000 Depreciation and amortization 28,409,254 3,028,818 6,421,619 Total operating expenses 102,950,774 47,518,094 22,364,346 Operating income (loss) 9,362,118 (1,995,399) (5,210,203) NON-OPERATING REVENUES (EXPENSES) Operating grants 635,864 15,130 - Interest income 4,974,317 2,327,903 754,842 Net inc (dec) in fair value of investments 2,048,907 990,164 306,719 Interest expense (9,336,708) (410,377) - Debt issuance costs (288,071) - - Other non operating expense (1,128) - (570) Gain (loss) on disposition of assets (25,925) - - Total non-operating revenues (expenses) (1,992,744) 2,922,820 1,060,991 Income (loss) before contributions and transfers 7,369,374 927,421 (4,149,212) Capital contributions 27,757,625 - 447,665 Transfers in 203,285 30,998 78,393 Transfers out (2,485,564) (497,158) (441,673) Change in net position 32,844,720 461,261 (4,064,827) Net position - beginning 619,764,974 142,714,902 126,455,178 Net position - ending 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 66