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MAN A(JE!4'I)E:NT'S DISCUSSION AND ANALYSIS
<br />This scctiurr of the County Of 1{tMat`l's(thC Count).) Annutal Coinprthcrisivc Financial Rcport
<br />prescrrtS a uarrative Ovi rview and analysis of -the fin-, rncial activities of the Comity for chc fiscal
<br />year ended lane :30, 2023. We encourage readers to consider the information presented here. in
<br />CoIIJI1110 s;rls %6Lth adtli(K)11€11 ilifOl`tllatillrl that WC fbavl:. f'ErrnjSliCd 111 raur' Iettir Oftransrrlittnl.
<br />FINANC'IA1, IIIf.11LICEITS
<br />The assets and deferred utitflow:, of resourc" of rc�,okm:cs of the C OLLFAY ux-cccdcd its
<br />liabilthe kinkl ofthe fiscal year by $573.3 mid Iklo (rw-t
<br />position). Thitsarnotfrit int h.idc� i me ),,7ri\tr b., LiIicc tit 7:11.4 niiIIi0n in unrestricted net
<br />p+asitiois, a positive incrcasw, 4. im.'lic,ii from the prior year, whicli is explaiiied Iil the
<br />sections below_ This amOUIlt includes $2.4 hi Ilion of total. assets and $1 58.7 million of total
<br />deferred outflows 0frescatrrf es: S1.8 b i I I i u n of tat aI liabilities and $t97.9 iniflion uftotaI
<br />deferred inflows of resources.
<br />As of the end of fiscal weer 2023, the [`amity's governnivritaI funds reported combincc!
<br />cndlrig fetid balances of-S,)V-b million, an increase of'S-209.1 rnilhon from the prior year.
<br />Appro\imatti} 35 percent of this total amount, �S206.4 million, is itvadable for ,pending at
<br />the ( ount)'> cl§scretican (unrestricted fund balance),
<br />• At the end ofthe current fiscal Year, unrestricted fund balance for the general fund was
<br />y';--42 3 miIIion . c,r 31 pur,:cnr of total 2encral fund expenditures.
<br />OVERVIEW OF THE FINANCIAL STATEMENTS
<br />Ibis discussion and analyis is iritcodud to sure �.: ii, tiSL iIilroducli-:>n to the County'.; Li isic f wiIici;Sl
<br />s1atcITlCIl(.5, rhC C.otarrty's basic financial slatcaicim comprise three components: f 1 )
<br />Government -wide fitianci'iI statemems, (2) Furrcl fina nc.ial ;tatelnenrs, and d:31 Nodes eta the ha.�ic
<br />financial Statcrmt nts. I lit report atso contains both required and other supplementary
<br />information in addition. to the btii,ic financial staterrt ;nts ilicilisch c.s.
<br />Government -wide Financial Statements
<br />The ,t,,mcitimeni-wide financial statements are designed to provide readers with a broad overview
<br />of tlle. Comity's firutnc:cs, in ,i ru,inncr 5imilar to a pr ivite-seethe husiness.
<br />The statement of net position pr,2>etitti inf€ rination can all of the ounty''s assets, deferred
<br />outflr ,k� of rescrurcCS, 1mbihi:k ,. XIJ deferred inflows of resources, with the diflcrcmr e reported
<br />as act position. Over tune, 7I 1ccrCascS in nPt position may scree as a useful indicator
<br />of whether or not the financial po ition of the County is irnprovin- or dctcriorating.
<br />The statement of adivilies pres,.:r,� iiIforai3atican showing 110�- tkre C Elunty's rlVt position cflallgCd
<br />during tfr: rtrC}St reccni ti.,c,31 year. All changes to net position are reported as soon as the
<br />underlyirl� event giving, rise: to thu changU occurs, rcgardlcss of the lirldrig of rwiatcd cash haws.
<br />Thus, revenues and c:xpc riws arc repurtcd in this SWCnicrtit f'or that Will aril} re:scilt in
<br />cash flat%-; ill future fiscal periods, such as revenues per-m-Ining, to uncollected taxes 'Lind expenses
<br />pertaining, to earned tart unused vacatimi and .sick leave_
<br />Both oftht: goverrlrrrcrtt-t+-ide fmariulal statements distHiguish ft,rletiurls ofthc County that arc
<br />principally supported by taxes and intergovernmental revenues (governmental activities) frorn
<br />Luber tiltictions that are intended to recover all or a significant portion of their costs Through user
<br />fees and charges (bLlSh`Icsy-(ypt: actiViticS). IA: guVcrrwrncntdl activities ofthc C-oclnty include
<br />public safety, highways and streets, health, education and welfare, culture and recreation,
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