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Annlysis of Net Position
<br />As [LotCd earlier. im position nii% si'rvc m er rinse as a USeCUl indiQato! t'A_,i r.overnmont's
<br />financial position. hi the c,l,,e A .t11 UOLl11t, a is arld deferred VLlIAt+kw; 01 resources exceeded
<br />I[ahllltles and deterred f)) +.? million at tier clear of the most recent
<br />Fiscal Fear.
<br />Hi far 11,e fifflr C. ,T frOrthm n!-the colilrty'.; not poc ition reflects its investment in capital assets
<br />(e_g., land, hilildinv_s, i1i1'ra,,tr1.l4:trlre, and cquipmunt) Icss any related debt Used to auquirc: these
<br />assets that is still t�utst, rLklill;... The Count)- uses these capital assets to provide :services to
<br />citiietls; emsequentl , thl !w assets are not available for future spurlding_ Although the: CocLnty",
<br />im-estnlent in its capital ilti4 tw k ruported net of related debt, it shcluld be nested thilt the: rCsollrcc5
<br />nctdcd to repay this debt 1r141st be: provided from other sourixs, since (Ile Capital assets thclrlselve: i
<br />t.:0111101 bl' 415Cd to IL4IL idate d1cw fiabilitics,
<br />Ali jt1d it loi l s,ortiot1 oC i he Ca unly's net position represents resotlrces that are subject to exterllltll
<br />1'etitr'iCtiO;l� 01) 11OW (11CY Illa, bC Used.
<br />At the end of'rhe current fiscal year, the i.'tluntV is able to rc°pclrt positive balatices in two of its
<br />three . ate;grorie�, of net poc itian, bath for the govmimclll as a v hale, as well as for its separate
<br />uvcrnmc[ltrsl tctiiitic5, All three eale?ceies of net position are positive f'ilr its business -type
<br />autivitiCS.
<br />l lle Comity's not pnsitioll increased by $25 1.9 million Cl- in tJ'IL: prior yCar, WhMl m'Lt5 ml immat"w4°
<br />of $122.8 ill ill ion 19 3` t I'n-,ul the Incro,,wt- tll:lr vL 2,Lpi2riem- A last fiscal year. 111C nlclill
<br />reasons for the lcl['IjL' ILl I'i':I C ill thu CLll-r4111 ''.4lkr" k;Itilr; 5e Ct4Ll Iaw1 e:if, wa.", d1.11: tO7 1 yllh t,L11t14L1
<br />increase in rc.cllrLca irons t,i wr of 98.9 nllllicia from the prier year, SSI 1 1.3 million ofroad
<br />dc.dik�atiolls and transfers from the State. I hip was in addition to a ciecrc°a e Ill cxl�e,�L;lin,Les
<br />relawd to the C't: im's net pdrisit n and othur past Cn1ploYnlcnl bericfits (OPF_'R) 11,3bilit) 013
<br />comb111ed total 4)fi]l��?I'x}\1111£lt,21� � 1(l., In IIIIClFl.
<br />`iCC fl,rt)Cr d1 Cl1S5141[1 re'iirdltl} the Chang%fs Ill the C114111tj' 4 [lrt pt}SLtI{ ll 1R the suctloll labeled
<br />ArlaIysis ofCllangcs i11 Nil PosIti1111.
<br />l'llc ('01-111t) .s FlCt assets increased by 51212.3 ill ilIion (1) percent? ciclu to the largu Wnount of
<br />Lap15'11 111,11r4,)1'C[ ent projects done by the C'Qu11ty d4Lring tllc cllrrclll ;'tear and lrlfra.struclure
<br />related as: eB th.Lt }wrc contributcd. Scu further discossion ofThe irlcreal e in capital assets on
<br />pa c Y 4 .
<br />The County's long-terLn liabilities 01.1tatlilrclirlL1 ilsurcas ,Q l b: $ I04-. inilJioci (7 percent) dnc
<br />P111r1iirill, tO t110 issuance oC$99 ill i11ion of general obligaLicln bands and $29.5 million of band
<br />antiripzction riocc� that were Iml paid until SUbSequent to flscrll year end. A111101-1gh the C€aunty's
<br />net pension Iiabilit; increased by $19.1 r[Lilliw+n, This %vac offset by a corresponding decrease in the
<br />pr[.ljucted dc.fcrr-cd inflow of resources related to t11e liability and not by mi incrca x in
<br />expenditures, There Naas a $43.3 million dccrcasu in the net othr:r pa, t-crtlploymcnt berictit
<br />obligation. See further di,.<msioil of dic incrcast in ]one.-wrrlj debt outslarlding on page 27.
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