Sarasota County Comprehensive Annual Financial Report 2020

Sarasota County, Florida Statement of Net Position September 30, 2020 Governmental Business-type Activities Activities Total LIABILITIES Current liabilities: Accounts payable $ 6,578,176 $ 3,828,623 $ 10,406,799 Wages and benefits payable 16,648,967 1,715,484 18,364,451 Contracts and retainages payable 32,378,668 10,816,824 43,195,492 Intergovernmental payable 10,308,034 9 10,308,043 Compensated absences 22,141,381 2,215,702 24,357,083 Notes and loans payable 13,865,891 15,306,758 29,172,649 Commercial paper payable 4,089,000 3,000,000 7,089,000 Bonds payable 20,265,000 1,950,000 22,215,000 Unearned revenue 3,544,493 2,143,358 5,687,851 Claims and judgments payable 9,646,007 - 9,646,007 Net pension liability 791,745 62,226 853,971 Total current liabilities payable from unrestricted assets 140,257,362 41,038,984 181,296,346 Current liabilities payable from restricted assets: Accounts payable - 204,608 204,608 Contracts and retainages payable - 644,694 644,694 Customer deposits 137,240 3,328,253 3,465,493 Interest payable - 218,532 218,532 Landfill closure - 365,273 365,273 Total current liabilities payable from restricted assets 137,240 4,761,360 4,898,600 Total current liabilities 140,394,602 45,800,344 186,194,946 Noncurrent liabilities: Rebatable arbitrage 28,123 - 28,123 Notes and loans payable 93,222,672 54,929,168 148,151,840 Commercial paper payable 29,560,000 6,000,000 35,560,000 Bonds payable (net) 246,957,113 158,883,075 405,840,188 Net pension liability 440,669,904 29,534,666 470,204,570 Total OPEB liability 9,295,695 - 9,295,695 Compensated absences 7,795,284 166,773 7,962,057 Claims and judgments 20,252,498 - 20,252,498 Landfill closure - 33,660,682 33,660,682 Total noncurrent liabilities 847,781,289 283,174,364 1,130,955,653 Total liabilities 988,175,891 328,974,708 1,317,150,599 DEFERRED INFLOWS OF RESOURCES Taxes received in advance 2,835,540 - 2,835,540 Deferred amounts on debt refundings - 76,565 76,565 Deferred amounts for pensions 11,799,135 858,328 12,657,463 Deferred amounts for OPEB 3,403,064 804,893 4,207,957 Unavailable Revenues 4,027,626 - 4,027,626 Total deferred inflows of resources 22,065,365 1,739,786 23,805,151 NET POSITION Net investment in capital assets 1,241,890,354 702,067,742 1,943,958,096 Restricted for capital projects 158,252,557 18,326,653 176,579,210 Restricted for special revenues-other 205,840,626 - 205,840,626 Restricted for debt service 4,019,872 - 4,019,872 Restricted for renewal and replacement - 2,500,000 2,500,000 Restricted for other purposes nonexpendable 1,504,355 - 1,504,355 Restricted for other purposes 1,727,195 1,881,457 3,608,652 Unrestricted (262,130,333) 369,616,322 107,485,989 Total net position $ 1,351,104,626 $ 1,094,392,174 $ 2,445,496,800 45