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Capital Assets
<br />(net of depreciation)
<br />June 30, 2019 and 2018
<br />Additional information on the County's capital assets can be found in note 6 to the basic financial
<br />statements.
<br />Long-term debt. Long-term debt is primarily comprised of bonds of $382.4 million, State
<br />Revolving Fund loans of $39.7 million and Bond Anticipation Notes of $34.0. At the end of the
<br />current fiscal year, the County had total bonded debt outstanding of $382.4 million. This entire
<br />amount was comprised of general obligation bonds which are backed by the full faith and credit
<br />of the County.
<br />The County's total bonded debt decreased by $25.0 million (6 percent) during the current fiscal
<br />year due to the retirement of $25.0 of bonds.
<br />At the end of the fiscal year, the County held an "AA+" rating from Fitch and an "Aa2" rating
<br />from Moody's for general obligations debt.
<br />State statutes limit the amount of general obligation debt the County may issue up to 15 percent
<br />of the total assessed value of all county real property as established for tax purposes oil the last
<br />tax assessment rolls. The current debt limitation for the County is $4.8 biIIion, which is in excess
<br />of the County's outstanding general obligation debt, Currently the County's outstanding debt
<br />represents 9 percent of our debt limitation.
<br />Additional information oil the County's long-term debt can be found in note 10 to the basic
<br />financial statements.
<br />ECONOMIC FACTORS AND NEXT YEAR'S BUDGETS AND RATES
<br />■ The unemployment rate for the County for the current fiscal year is at approximately 3.7
<br />percent, which is 0.7 percent higher than at the end of the prior fiscal year. Th'ls is the
<br />first increase in unemployment since 2009, when the rate was 1 l.5 percent.
<br />The number of domestic and international visitors to the County for the current fiscal
<br />year was approximately 1.67 million, with an approximately 35 percent decrease from the
<br />previous year's count of 2.60 million.
<br />These factors were considered in preparing the County's budget for the 2020 fiscal year.
<br />I WIRE
<br />Primary Government
<br />Governmental Activities
<br />Business -type Activities
<br />Total
<br />2019
<br />2018
<br />2019
<br />2018LII2
<br />2018
<br />Land and improvements
<br />S 263,470,318
<br />$ 256,390,951
<br />$ 753,877
<br />3 753,877
<br />$ 264,224,195
<br />5 257,144,828
<br />Wrastructure assets
<br />312,878,757
<br />309,295,827
<br />-
<br />-
<br />312,878,757
<br />309,295,827
<br />Ground and site improvements
<br />-
<br />-
<br />49,199
<br />53,546
<br />49,199
<br />53,546
<br />Buildings and improvements
<br />627,746,572
<br />631,727,813
<br />538,410
<br />574,454
<br />628,284,982
<br />632,302,267
<br />Easements
<br />6,250,078
<br />6,169,006
<br />-
<br />-
<br />6,250,078
<br />6,169,006
<br />Equipment
<br />59,337,103
<br />58,918,798
<br />24,068
<br />20,666
<br />59,361,171
<br />58,939,464
<br />Construction work in progress
<br />58,455,811
<br />50,591,695
<br />-
<br />-
<br />58,855,811
<br />35,591,695
<br />Total
<br />$1,328,138,639
<br />$1,3I3,094,090
<br />$ I.365,554
<br />5 1,402,543
<br />$1,329,504,193
<br />$1,314,496,633
<br />Additional information on the County's capital assets can be found in note 6 to the basic financial
<br />statements.
<br />Long-term debt. Long-term debt is primarily comprised of bonds of $382.4 million, State
<br />Revolving Fund loans of $39.7 million and Bond Anticipation Notes of $34.0. At the end of the
<br />current fiscal year, the County had total bonded debt outstanding of $382.4 million. This entire
<br />amount was comprised of general obligation bonds which are backed by the full faith and credit
<br />of the County.
<br />The County's total bonded debt decreased by $25.0 million (6 percent) during the current fiscal
<br />year due to the retirement of $25.0 of bonds.
<br />At the end of the fiscal year, the County held an "AA+" rating from Fitch and an "Aa2" rating
<br />from Moody's for general obligations debt.
<br />State statutes limit the amount of general obligation debt the County may issue up to 15 percent
<br />of the total assessed value of all county real property as established for tax purposes oil the last
<br />tax assessment rolls. The current debt limitation for the County is $4.8 biIIion, which is in excess
<br />of the County's outstanding general obligation debt, Currently the County's outstanding debt
<br />represents 9 percent of our debt limitation.
<br />Additional information oil the County's long-term debt can be found in note 10 to the basic
<br />financial statements.
<br />ECONOMIC FACTORS AND NEXT YEAR'S BUDGETS AND RATES
<br />■ The unemployment rate for the County for the current fiscal year is at approximately 3.7
<br />percent, which is 0.7 percent higher than at the end of the prior fiscal year. Th'ls is the
<br />first increase in unemployment since 2009, when the rate was 1 l.5 percent.
<br />The number of domestic and international visitors to the County for the current fiscal
<br />year was approximately 1.67 million, with an approximately 35 percent decrease from the
<br />previous year's count of 2.60 million.
<br />These factors were considered in preparing the County's budget for the 2020 fiscal year.
<br />I WIRE
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