Sarasota County Comprehensive Annual Financial Report 2020

Sarasota County, Florida Statement of Net Position Proprietary Funds September 30, 2020 Business-type Activities Enterprise Funds LIABILITIES Major Utility System Major Solid Waste System Major Stormwater Utility Current unrestricted liabilities: Accounts payable $ 3,715,454 $ 34,647 $ 4,782 Wages and benefits payable 776,256 127,473 305,783 Contracts and retainages payable 5,166,890 4,106,345 456,400 Intergovernmental payable 9 - - Compensated absences 1,074,431 176,817 426,338 Notes and loans payable 12,496,758 2,810,000 - Revenue bonds payable 1,950,000 - - Commercial paper payable 3,000,000 - - Unearned revenue 2,143,355 - - Claims and judgments payable - - - Net pension liability 27,598 4,357 10,893 Total current liabilities payable from unrestricted assets 30,350,751 7,259,639 1,204,196 Current liabilities payable from restricted assets: Accounts payable 204,608 - - Contracts and retainages payable 597,570 - 47,124 Customer deposits 2,603,831 724,422 - Interest payable 218,532 - - Landfill closure - 365,273 - Total current liabilities payable from restricted assets 3,624,541 1,089,695 47,124 Total current liabilities 33,975,292 8,349,334 1,251,320 Non-current liabilities: Notes and loans payable 49,099,168 5,830,000 - Revenue bonds payable (net) 158,883,075 - - Commercial paper payable 6,000,000 - - Net pension liability 13,098,638 2,068,146 5,170,302 Compensated absences 80,871 13,309 32,090 Claims and judgments payable - - - Landfill closure - 33,660,682 - Total non-current liabilities 227,161,752 41,572,137 5,202,392 Total liabilities 261,137,044 49,921,471 6,453,712 DEFERRED INFLOWS OF RESOURCES Deferred amounts on debt refundings 76,565 - - Deferred amounts for pensions 380,669 60,104 150,258 Deferred amounts for OPEB 320,554 52,127 122,755 Total deferred inflows of resources 777,788 112,231 273,013 NET POSITION Net investment in capital assets 498,897,603 84,761,503 93,132,622 Restricted for capital projects 16,075,957 - 2,250,696 Restricted for renewal and replacement 2,000,000 500,000 - Restricted for other purposes 1,881,457 - - Unrestricted 164,704,741 60,055,230 22,082,886 Total net position $ 683,559,758 $ 145,316,733 $ 117,466,204 The notes to the financial statements are an integral part of this statement. 64