Sarasota County Comprehensive Annual Financial Report 2020

Sarasota County, Florida Changes in Fund Balances, Governmental Funds Last Ten Fiscal Years Fiscal Year 2011 2012 2013 2014 REVENUES Taxes $ 221,587,891 $ 214,519,790 $ 216,189,183 $ 230,609,126 Permits, fees and special assessments 62,746,864 62,929,775 66,328,862 78,015,346 Intergovernmental 66,086,895 70,251,481 69,237,766 62,187,707 Charges for services 57,703,947 57,259,956 60,879,094 65,002,178 Judgments, fines and forfeits 2,262,668 1,826,808 2,500,102 4,291,027 Interest income 14,658,363 12,150,976 9,282,797 8,281,596 Net inc (dec) in fair value of investments 3,345,348 4,343,964 (10,881,268) 522,151 Securities lending income 5,760 23,538 - - Contributions and donations 16,572,022 3,193,385 1,054,013 727,620 Miscellaneous 5,696,847 6,276,760 31,164,152 10,038,884 Total revenues 450,666,605 432,776,433 445,754,701 459,675,635 EXPENDITURES Current: General government 90,024,761 80,862,850 90,061,486 93,759,812 Public safety 178,355,353 179,070,015 185,522,848 202,052,344 Physical environment 16,879,343 11,175,833 12,393,966 11,542,743 Transportation 60,108,205 48,807,907 47,420,611 52,257,542 Economic environment 15,143,168 13,452,967 10,628,552 12,744,872 Human services 21,237,992 19,629,408 21,193,029 21,306,661 Culture and recreation 65,082,320 53,738,907 52,937,656 68,045,910 Securities lending 22,870 (4,810) - - Intergovernmental 223,134 141,778 375,836 15,635 Debt Service: Principal 42,646,136 20,771,302 20,612,662 20,063,226 Debt issuance costs 500,574 76,076 - 381,522 Interest and fiscal charges 16,195,246 15,234,980 14,538,314 14,736,925 Current refunding bond issuance to escrow - 10,642,280 - - Refunding other sources to escrow - 849,584 - 350,749 Arbitrage 41,718 - - - Total expenditures 506,460,820 454,449,077 455,684,960 497,257,941 Excess (deficiency) of revenues over (under) expenditures (55,794,215) (21,672,644) (9,930,259) (37,582,306) Transfers in 117,810,073 88,411,344 87,486,287 84,699,254 Transfers out (128,796,773) (94,498,871) (107,041,410) (95,141,379) Discount of bond issuance - - - (130,606) Premium on bond issuance - - - - Commercial paper issuance 1,600,000 5,575,000 - 8,225,000 Debt issuance 38,410,000 - - 17,245,000 Note issuance 15,360,000 10,302,000 - 49,532,000 Premium on bond issuance - - - - Revenue bond issuance - - - - General Obligation bond issuance - - - - Advance refunding bond proceeds to escrow (28,911,231) - - (26,843,145) Total other financing sources (uses) 15,472,069 9,789,473 (19,555,123) 37,586,124 SPECIAL ITEMS Business Loan Repayment - - - - Business Loan Issued - - - - Net change in fund balances $ (40,322,146) $ (11,883,171) $ (29,485,382) $ 3,818 Debt service as a percentage of noncapital expenditures 14.4% 9.2% 9.0% 8.5% 268