Sarasota County Comprehensive Annual Financial Report 2020

• General government actual expenditures were $12.1 million under budget in part due to a pause in discretionary spending. • Culture and Recreation actual expenditures were $2.5 million under budget due to modification of service levels due to the global health crisis - COVID-19. • Budgetary fund balance of $11.6 million was budgeted to be used in fiscal year 2020, however none was used. Capital Asset and Debt Administration Capital assets. Sarasota County’s investment in capital assets for its governmental and business-type activities, at the end of the current fiscal year, amounted to $2.5 billion (net of accumulated depreciation). This investment in capital assets is comprised of land, land rights, right of ways/easements, building and building improvements, equipment, software, water and timber rights, construction in progress, and infrastructure. Infrastructure consists predominantly of roads and streets (including peripherals) and bridges within governmental activities, and of water and wastewater systems, Stormwater facilities and landfill infrastructure within business-type activities. The County’s total investment in capital assets for the current fiscal year increased by 5.8 percent. Capital Assets, Net of Depreciation (in thousands) Governmental Business-type Activities Activities Total 2020 2019 2020 2019 2020 2019 Land $ 469,696 $ 451,595 $ 64,662 $ 64,588 $ 534,358 $ 516,183 Land rights 925 925 - - 925 925 Right of w ay/easements 30,730 25,770 1,489 735 32,219 26,505 Buildings and improvements 236,412 179,586 25,282 35,767 261,694 215,353 Equipment 54,219 58,244 15,618 26,739 69,837 84,983 Inf rastructure 648,710 637,453 765,791 757,106 1,414,501 1,394,559 Sof tw are 6,842 8,478 - - 6,842 8,478 Water and timber rights - - - - - - Construction in progress 124,666 94,545 60,103 26,239 184,769 120,784 Total $ 1,572,200 $ 1,456,596 $ 932,945 $ 911,174 $ 2,505,145 $ 2,367,770 Major capital asset events during the current year included: • Atlanta National League Baseball Club, LLC total expenditure incurred totaling $92.2 million, $23.5 million of which were county incurred expenses and $68.7 million were costs from other parties ($9.2 million land and $59.5 million buildings.) • Nathan Benderson Park improvements were incurred totaling $9.8 million, $6.2 million of which were costs from Benderson Development Company, LLC. • Renovations to County facilities were completed totaling $9.7 million. • County roadway resurfacing and side walk program improvements were completed totaling $15.7 million. Additional information on capital asset activity may be found in Note 6 on pages 107-110 of this report. 39