Sarasota County Comprehensive Annual Financial Report 2020

Sarasota County, Florida Statement of Revenues, Expenses and Changes in Fund Net Position Proprietary Funds For the Year Ended September 30, 2020 Business-type Activities Enterprise Funds Major Major Major Utility Solid Waste Stormwater System System Utility OPERATING REVENUES Charges for services $ 6,104,254 $ 48,518,397 $ 17,173,765 Water sales 45,004,398 - - Wastewater treatment charges 66,471,245 - - Other revenue 1,213,288 380,343 279,450 Total operating revenues 118,793,185 48,898,740 17,453,215 OPERATING EXPENSES Personal services 18,143,088 2,848,252 7,073,537 General and administrative 6,458,342 40,268,901 9,939,779 Water treatment and distribution 33,682,027 - - Wastewater collection and treatment 23,043,609 - - Landfill closure and post closure - 2,966,615 - Claims paid - - - Depreciation and amortization 36,602,240 3,064,183 6,216,854 Total operating expenses 117,929,306 49,147,951 23,230,170 Operating income (loss) 863,879 (249,211) (5,776,955) NON-OPERATING REVENUES (EXPENSES) Operating grants - 518,056 47,124 Interest income 3,645,993 1,700,036 560,802 Net inc (dec) in fair value of investments 2,080,790 1,059,149 343,661 Interest expense (8,217,781) (332,527) - Other non operating expense (1,205) (47,715) - Gain (loss) on disposition of assets 1,560 - 2,340 Total non-operating revenues (expenses) (2,490,643) 2,896,999 953,927 Income (loss) before contributions and transfers (1,626,764) 2,647,788 (4,823,028) Capital contributions 34,599,861 - 344,516 Transfers in 657,663 - - Transfers out (2,680,696) (507,218) (445,635) Change in net position 30,950,064 2,140,570 (4,924,147) Net position - beginning 652,609,694 143,176,163 122,390,351 Net position - ending $ 683,559,758 $ 145,316,733 $ 117,466,204 The notes to the financial statements are an integral part of this statement. 68