Table of Contents
|
5 |
Introductory Section
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11 |
Letter of Transmittal
|
13 |
Certificate of Achievement for Excellence in Financial Reporting for 2018
|
20 |
Sarasota County Government Organizational Chart
|
23 |
Financial Section
|
25 |
Independent Auditor's Report
|
27 |
Management's Discussion and Analysis
|
31 |
Basic Financial Statements
|
44 |
Government-wide Financial Statement:
|
46 |
Statement of Net Position
|
46 |
Statement of Activities
|
48 |
Fund Financial Statement:
|
50 |
Governmental Funds:
|
50 |
Balance Sheet-Governmental Funds
|
50 |
Reconciliation of Governmental Funds Balance Sheet to the Statement of Net Position
|
53 |
Statement of Revenues, Expenditures and Changes in Fund Balances-Governmental Funds
|
54 |
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the Statement of Activities Revenues, Expenditures, and Changes Fund
|
57 |
Statement of Revenues, Expenditures and Changes in Fund Balances-Budget to Actual-General Fund
|
58 |
Statement of Revenues, Expenditures and Changes in Fund Balances-Budget to Actual-Emergency Services Special REvenue Fund
|
60 |
Statement of Revenues, Expenditures and Changes in Fund Balances-Budget to Actual-Capital Revenue Programs Special Revenue Fund
|
61 |
Proprietary Funds:
|
62 |
Statement of Net Position- Proprietary Funds
|
62 |
Reconciliation of the Proprietary Funds Statement of Net Position
|
67 |
Statement of Revenues, Expenses and Changes in Fund Net Position- Proprietary Funds
|
68 |
Reconciliation of the Proprietary Funds Statement of Revenues, Expenses, and Changes in Fund Net Position to the Statement of Activities
|
71 |
Statement of Cash Flows- Proprietary Funds
|
72 |
Fiduciary Funds
|
76 |
Statement of Fiduciary Net Position - Fiduciary Funds
|
76 |
Statement of Changes in Fiduciary Net Positions- Fiduciary Funds
|
77 |
Notes to the Financial Statements
|
79 |
Note 1 -Summary of Significant Accounting Policies
|
79 |
Note 2 -Stewardship, Compliance, and Accountability
|
94 |
Note 3- Cash, Investments and Securities Lending
|
95 |
Note 4- Receivables
|
103 |
Note 5- Interfund Receivables, Payables, and Transfers
|
103 |
Note 6- Capital Assets
|
106 |
Note 7-Long Term Debt
|
110 |
Note 8-Lease Obligations
|
123 |
Note 9-Landfill Closure and Postclosure Care Costs
|
123 |
Note 10- Risk Management
|
124 |
Note 11- Employee Retirement Plans
|
125 |
Note 12- Deferred Compensation Plan
|
136 |
Note 13- Post Employment Benefits (Other Than Pensions)
|
136 |
Note 14- Contingencies
|
143 |
Note 15-Subsequent Events
|
143 |
Note 16- Deficit Fund Balances
|
143 |
Note 17- Tax Abatement
|
144 |
Required Supplementary Information
|
145 |
Schedule of Changes in the County's Net OPEB Liability and Released Ratios
|
146 |
Schedule of Contributions for the County's OPEB Trust Fund
|
147 |
Schedule of Changes in the Sheriff's Net OPEB Liability and Related Ratios
|
149 |
Schedule of Proportionate Share of Net Pension Liability
|
150 |
Schedule of Contributions
|
156 |
Government Funds Financial Statements
|
163 |
Nonmajor Governmental Funds:
|
165 |
Combining Balance Sheet-Nonmajor Governmental Funds
|
168 |
Combining Statement of Revenues, Expenditures and Changes in Fund Balances-Nonmajor Governmental Funds
|
170 |
Special Revenue Funds
|
172 |
Subcombining Balance Sheet- Nonmajor Special Revenue Funds
|
172 |
Subcombining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Special Revenue Funds
|
178 |
Schedule of Revenues, Expenditures, and Changes in Fund Balances-Budget and Actual- Nonmajor Special Revenue Funds:
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184 |
Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget to Actual- Transportation Special Revenue Fund
|
184 |
Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget to Actual- Building and Zoning Special Revenue Fund
|
185 |
Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget to Actual- Tourist Development Special Revenue Fund
|
186 |
Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget to Actual- Franchise Utilities Special Revenue Fund
|
187 |
Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget to Actual- Mosquito Control Special Revenue Fund
|
188 |
Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget to Actual- Grants in Aid Special Revenue Fund
|
189 |
Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget to Actual- Federal, State & Local Grants Special Revenue Fund
|
190 |
Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget to Actual- Environmental Resources Special Revenue Fund
|
191 |
Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget to Actual- Gifts, Donations and Recreation Special Revenue Fund
|
192 |
Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget to Actual- Improvement Districts Special Revenue Fund
|
193 |
Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget to Actual- Court Improvements Special Revenue Fund
|
194 |
Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget to Actual- Street Lighting Districts Special Revenue Fund
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195 |
Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget to Actual- Arts in Public Places Special Revenue Fund
|
196 |
Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget to Actual- Economic Development Special Revenue Fund
|
197 |
Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget to Actual- Moving Violation Surcharge Special Revenue Fund
|
198 |
Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget to Actual- Law Enforcement Special Revenue Fund
|
199 |
Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget to Actual- Sheriff's Special Revenue Fund
|
200 |
Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget to Actual- Clerk's Special Revenue Fund
|
201 |
Debt Service Funds:
|
202 |
Subcombining Balance Sheet-Nonmajor Debt Service Funds
|
202 |
Subcombining Statement of Revenues, Expenditures and Changes in Fund Balances -Nonmajor Debt Service Funds
|
206 |
Schedule of Revenues, Expenditures and Changes in Fund Balances-Budget to Actual- Nonmajor Debt Service Funds:
|
210 |
Schedule of Revenues, Expenditures and Changes in Fund Balances-Budget to Actual- Limited Ad Valorem Tax Series 2005 Fund
|
210 |
Schedule of Revenues, Expenditures and Changes in Fund Balances-Budget to Actual- Limited Ad Valorem Tax Series 2008A Fund
|
211 |
Schedule of Revenues, Expenditures and Changes in Fund Balances-Budget to Actual- Bank Term Loans Debt Service Fund
|
212 |
Schedule of Revenues, Expenditures and Changes in Fund Balances-Budget to Actual- Commercial Paper Debt Service Fund
|
213 |
Schedule of Revenues, Expenditures and Changes in Fund Balances-Budget to Actual- Capital Improvement Series 2010 Fund
|
214 |
Schedule of Revenues, Expenditures and Changes in Fund Balances-Budget to Actual- Communication Services Tax Series 2010 Fund
|
215 |
Schedule of Revenues, Expenditures and Changes in Fund Balances-Budget to Actual- Second Guaranteed Entitlement Series 2013 Fund
|
216 |
Schedule of Revenues, Expenditures and Changes in Fund Balances-Budget to Actual-Infrastructure Sales Surtax Series 2014A, Series 2015 and Series 2018 Fund
|
217 |
Schedule of Revenues, Expenditures and Changes in Fund Balances-Budget to Actual- Capital Improvement Series 2017 Fund
|
218 |
Schedule of Revenues, Expenditures and Changes in Fund Balances-Budget to Actual- Capital Improvement Series 2018A Fund
|
219 |
Schedule of Revenues, Expenditures and Changes in Fund Balances-Budget to Actual- Capital Improvement Series 2018B Fund
|
220 |
Schedule of Revenues, Expenditures and Changes in Fund Balances-Budget to Actual- General Obligation Series 2019 Fund
|
221 |
Schedule of Revenues, Expenditures and Changes in Fund Balances-Budget to Actual- Capital Improvement Series 2019A Fund
|
222 |
Schedule of Revenues, Expenditures and Changes in Fund Balances-Budget to Actual- Capital Improvement Series 2019B Fund
|
223 |
Schedule of Revenues, Expenditures and Changes in Fund Balances-Budget to Actual- Capital Improvement Series 2019C Fund
|
225 |
Capital Project Funds:
|
226 |
Subcombining Balance Sheet- Nonmajor Capital Project Funds
|
226 |
Subcombining Statement of Revenues, Expenditures and Changes in Fund Balances
|
228 |
Permanent Fund:
|
231 |
Schedule of Revenues, Expenditures and Changes in Fund Balances- Budget to Actual- Library Endowments
|
231 |
Internal Service Funds:
|
233 |
Combining Statement of Net Position-Internal Service Funds
|
234 |
Combining Statement of Revenues, Expenses, and Changes in Fund Net Position - Internal Service Funds
|
236 |
Combining Statement of Cash Flows - Internal Service Funds
|
238 |
Fiduciary Funds:
|
243 |
Combining Statement of Fiduciary Net Position - Agency Funds
|
244 |
Combining Statement of Changes in Fiduciary Net Position - Agency Funds
|
246 |
Englewood Community Redevelopment Agency
|
248 |
Balance Sheet- Englewood Community Redevelopment Agency
|
248 |
Statement of Revenues, Expenditures, and Changes in Fund Balances- Englewood Community Redevelopment Agency
|
249 |
Notes to Financial Statements - Englewood Community Redevelopment Agency
|
251 |
Note 1- Summary of Significant Accounting Policies
|
251 |
Note 2- Interfund Receivables, Payables, and Transfers
|
253 |
Statistical Section
|
255 |
Financial Trends:
|
258 |
Net Position by Component
|
258 |
Changes in Net Position
|
260 |
Fund Balances, Governmental Funds
|
264 |
Changes in Fund Balances, Governmental Funds
|
266 |
Revenue Capacity
|
269 |
Assessed Value and Estimated Actual Value of Taxable Property
|
269 |
Direct and Overlapping Property Tax Rates
|
270 |
Principal Property Taxpayers
|
272 |
Property Tax Levies and Collections
|
273 |
Property Value, Construction, and Bank Deposits
|
274 |
Special Assessment Billings and Collections
|
275 |
Coverage of Guarantees Entitlement for All Counties by Revenue Sharing Trust Funds Receipts for All Counties
|
276 |
Coverage of Guarantees Entitlement for Sarasota County by Revenue Sharing Trust Funds Receipts for Sarasota County
|
277 |
State of Florida and Sarasota County Historical Sales Tax Collections
|
278 |
State of Florida and Sarasota County Historical Local Government Half-Cent Sales Tax
|
279 |
Sarasota County and Municipalities Percent of Total Half-Cent Sales Tax Receipts
|
281 |
Debt Capacity
|
282 |
Ratios of Outstanding Debt by Type
|
282 |
Ratios of General Bonded Debt Outstanding
|
284 |
Direct and Overlapping Governmental Activities Debt
|
285 |
Legal Debt Margin Information
|
287 |
Pledged-Revenue Coverage
|
288 |
Coverage of Maximum Annual Debt Service Requirement by Local Government Half-Cent Sales Tax Revenues
|
295 |
Demographic and Economic Statistics Information:
|
296 |
Demographic and Economic Statistics
|
296 |
Principal Employers
|
297 |
Top Ten Manufacturers
|
298 |
Miscellaneous Statistics
|
299 |
Operating Information
|
301 |
Full-time Equivalent County Government Employees by Function/Program
|
301 |
Operating Indicators by Function/Program
|
302 |
Capital Asset Statistics by Function/Program
|
304 |
Other Supplemental Schedules Section
|
307 |
Summary Schedule of Revenues, Expenditures and Changes in Fund Balances - General Fund
|
308 |
Assessed Value of Taxable Property
|
309 |
Pro Forma Debt Service Coverage - Limited Ad Valorem Tax Bonds, Series 2005, Series 2010 and Series 2014
|
310 |
Commercial Paper Specific Borrowings -General Government
|
311 |
Communication Services Tax Revenue Bond Series 2010, and Communication Services Tax Revenue Refunding Note, Series 2014 and 2015 Continuing Disclosure
|
312 |
Infrastructure Sales Surtax Revenue Bonds, 2014, 2015 and 2018 Continuing Disclosure
|
313 |
Pro Forma Debt Service Coverage-Second Guaranteed Entitlement Revenue Bonds 2013
|
315 |
Utility Bond Issue Continuing Disclosure
|
316 |
General Government-Revenue Bonds - Description:
|
330 |
Revenue Bond Issues
|
330 |
Enterprise Fund- Revenue Bonds- Description:
|
334 |
General Government- Revenue Bonds - Debt Service Maturity
|
337 |
Summary of Debt Service- Revenue Bonds
|
337 |
Second Guaranteed Entitlement Revenue Bonds, Series 2013
|
338 |
Infrastructure Sales Surtax Revenue Refunding Bonds, Series 2014
|
339 |
Infrastructure Sales Surtax Revenue Refunding Bonds, Series 2015
|
340 |
Capital Improvement Revenue Bonds, Series 2017
|
341 |
Infrastructure Sales Surtax Revenue Refunding Bonds, Series 2018
|
342 |
Capital Improvement Revenue Refunding Bonds, Series 2018A
|
343 |
Capital Improvement Revenue Refunding Bonds, Series 2018B
|
344 |
Capital Improvement Revenue Bonds, Series 2019A
|
345 |
Capital Improvement Revenue Refunding Bonds, Series 2019B
|
346 |
Capital Improvement Revenue Refunding Bonds, Series 2019C
|
347 |
Enterprise Funds- Revenue Bonds- Debt Service Requirements to Maturity
|
348 |
Utility System Revenue Bonds, Series 2011A
|
348 |
Utility System Revenue Bonds, Series 2011B
|
349 |
Utility System Revenue Bonds, Series 2013
|
350 |
Utility System Revenue Bonds, Series 2016A
|
351 |
Utility System Revenue Bonds, Series 2016B
|
352 |
Utility ystem Revenue Bonds, Series 2019A
|
353 |
General Government-Bank Term Loans- Description:
|
354 |
Bank Term Loans
|
354 |
Enterprise Funds- Bank Term Loans- Description:
|
357 |
Utility System Revenue Refunding Note, Series 2012
|
357 |
Subordinate Utility System Revenue Refunding Note, Series 2012
|
358 |
Utility System Revenue Refunding Note, Series 2015
|
359 |
Utility System Revenue Refunding Note, Series 2015
|
360 |
General Government- Bank Term Loans - Debt Service Requirements to Maturity:
|
361 |
Summary of Debt Service Requirements to Maturity Bank Term Loans
|
361 |
Bank Term Revenue Note, Series 2013A
|
362 |
Bank Term Revenue Note, Series 2014A
|
363 |
Communication Services Tax Revenue Refunding Note, Series 2014
|
364 |
Five-Cent Local Option Fuel Tax Revenue Refunding Note, Series 2014
|
365 |
Bank Term Revenue Not, Series 2014B
|
366 |
Limited Ad Valorem Tax Refunding Bond, Series 2014
|
367 |
Communications Services Tax Revenue Refunding Note, Series 2015
|
368 |
Enterprise Funds- Bank Term Loan- Debt Service Requirements to Maturity
|
369 |
Utility System Revenue Refunding Note, Series 2012
|
369 |
Subordinate Utility System Revenue Refunding Note, Series 2012
|
370 |
Utility System Revenue Refunding Note, Series 2015
|
371 |
Solid Waste System Revenue Refunding Note, Series 2015
|
372 |
Single Audit Grants Compliance Section
|
373 |
Independent Auditor's Report on Internal Control over Financial Reporting and on compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with GAS
|
374 |
Independent Auditor's Report on Compliance For Each Major Federal Program and State Project and Report on Internal Control Over Compliance Required by the Uniform Guidance and Chapter 10.550
|
376 |
Schedule of Expenditures of Federal Awards and State Financial Assistance
|
380 |
Notes to Schedule of Expenditures of Federal Awards and State Financial Assistance
|
383 |
Schedule of Findings and Questioned Costs Federal Awards Program and State Financial Assistance Projects
|
385 |