Sarasota County Comprehensive Annual Financial Report 2020

SARASOTA COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED SEPTEMBER 30, 2020 TABLE OF CONTENTS Changes in Net Position ............................................................................................................................................... 262 Fund Balances, Governmental Funds .......................................................................................................................... 266 Changes in Fund Balances, Governmental Funds....................................................................................................... 268 Revenue Capacity: Assessed Value and Estimated Actual Value of Taxable Property.............................................................................. 271 Coverage of Guaranteed Entitlement for All Counties by Revenue Sharing Trust Fund Coverage of Guaranteed Entitlement for Sarasota County by Revenue Sharing Trust Fund Direct and Overlapping Property Tax Rates................................................................................................................. 272 Principal Property Taxpayers ....................................................................................................................................... 274 Property Tax Levies and Collections ............................................................................................................................ 275 Property Value, Construction, and Bank Deposits ....................................................................................................... 276 Special Assessment Billings and Collections ............................................................................................................... 277 Receipts for All Counties ......................................................................................................................................... 278 Receipts for Sarasota County.................................................................................................................................. 279 State of Florida and Sarasota County Historical Sales Tax Collections....................................................................... 280 State of Florida and Sarasota County Historical Local Government Half-Cent Sales Tax .......................................... 281 Sarasota County and Municipalities Percentage Distributions of Statewide Half-Cent Sales Tax Revenues ............. 283 Debt Capacity: Ratios of Outstanding Debt by Type............................................................................................................................. 284 Ratios of General Bonded Debt Outstanding Debt Coverage of Maximum Annual Debt Service Requirement by Local Government ...................................................................................................... 286 Direct and Overlapping Governmental Activities Debt ................................................................................................. 287 Legal Debt Margin Information ..................................................................................................................................... 289 Pledged-Revenue Coverage ........................................................................................................................................ 290 Half-Cent Sales Tax Revenues ............................................................................................................................... 297 Demographic and Economic Information: Demographic and Economic Statistics ......................................................................................................................... 298 Principal Employers ...................................................................................................................................................... 299 Top Ten Manufacturers ................................................................................................................................................ 300 Miscellaneous Statistics ............................................................................................................................................... 301 Operating Information: Full-Time Equivalent County Government Employees by Function/Program.............................................................. 303 Operating Indicators by Function/Program................................................................................................................... 304 Capital Assets Statistics by Function/Program............................................................................................................. 306 OTHER SUPPLEMENTAL INFORMATION: Summary Schedule of Revenues, Expenditures and Changes in Fund Balances – General Fund................................... 310 Communication Services Tax Revenue Bonds Series 2010, and Communication Services Tax Revenue Refunding Infrastructure Sales Surtax Revenue Bonds, Series 2014, 2015 and 2018 Continuing Disclosure and Assessed Value of Taxable Property.................................................................................................................................. 311 Pro Forma Debt Service Coverage – Limited Ad Valorem Tax Bonds, Series 2005, Series 2010 and Series 2014 ......... 312 Commercial Paper - Specific Borrowings ........................................................................................................................... 313 Note, Series 2014 and 2015 Continuing Disclosure..................................................................................................... 314 Infrastructure Sales Surtax Revenue Note, 2020......................................................................................................... 315 Pro Forma Debt Service Coverage - Second Guaranteed Entitlement Revenue Bonds Series 2013 ............................... 317 Utility Bond Issue Continuing Disclosure ............................................................................................................................ 318 Schedule of Changes in the County’s Net OPEB Liability and Related Ratios .................................................................. 326 Schedule of Contributions for the County’s OPEB Trust Fund ........................................................................................... 327 6