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Capita Assets
<br />(net of depreciation)
<br />June 30, 2020 and 2019
<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 $359.2 million, State
<br />Revolving Fund loans of $37.4 million and Bond Anticipation Notes of $30.0 million. At the end
<br />of the current fiscal year, the County had total bonded debt outstanding of $359.2 million. This
<br />entire amount was comprised of general obligation bonds which are backed by the full faith and
<br />credit of the County.
<br />The County's total bonded debt decreased by $23.2 million (6 percent) during the current fiscal
<br />year due to the retirement of that amount of bonds.
<br />At the end of the fiscal year, the County held an "AA" rating from Standard & Poor's, an "AA+"
<br />rating from Fitch and an "Aa2" rating from Moody's for general obligation 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 on the last
<br />tax assessment rolls. The current debt limitation for the County is $5.0 billion, which is in excess
<br />of the County's outstanding general obligation debt. Currently the County's outstanding debt
<br />represents 6 percent of our debt limitation.
<br />Additional information on 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 13.2
<br />percent, which is 9 percent higher than at the end of the prior fiscal year. This increase is
<br />a result of the current COVID-19 pandemic that is plaguing the world.
<br />• The number of domestic and international visitors to the County for the current fiscal
<br />year was approximately 1.29 million, with an approximately 23 percent decrease from the
<br />previous year's count of 1.67 million.
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<br />Primary Government
<br />Governmental Activities
<br />Business -type Activities
<br />Total
<br />2020
<br />W12
<br />2020
<br />2019
<br />2020
<br />2019
<br />Land and improvements
<br />5 278,888,359
<br />5 263,470,308
<br />5 753,877
<br />5 753,877
<br />S 279,642,236
<br />S 264,224,195
<br />Infrastructure assets
<br />296,257,213
<br />312,878,757
<br />-
<br />296,257,213
<br />312,878,757
<br />Ground and site improvements
<br />-
<br />44,852
<br />49,199
<br />44,852
<br />49,199
<br />Buildings and improvements
<br />635,602,987
<br />627,746,572
<br />1,032,447
<br />538,410
<br />636,635,434
<br />628,284,982
<br />Easements
<br />11,116,725
<br />6,250,078
<br />11,116,725
<br />6,250,078
<br />Equipment
<br />58,412,276
<br />59,337,103
<br />86,717
<br />24,068
<br />58,498,993
<br />59,361,171
<br />Construction work in progress
<br />80,330,851
<br />58,455,811
<br />-
<br />-
<br />80,330,851
<br />58,455,811
<br />Total
<br />$1,360,608,411
<br />$1,328,138,639
<br />S 1,917,893
<br />S 1,365,554
<br />51,362,526,304
<br />$1,329,504,193
<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 $359.2 million, State
<br />Revolving Fund loans of $37.4 million and Bond Anticipation Notes of $30.0 million. At the end
<br />of the current fiscal year, the County had total bonded debt outstanding of $359.2 million. This
<br />entire amount was comprised of general obligation bonds which are backed by the full faith and
<br />credit of the County.
<br />The County's total bonded debt decreased by $23.2 million (6 percent) during the current fiscal
<br />year due to the retirement of that amount of bonds.
<br />At the end of the fiscal year, the County held an "AA" rating from Standard & Poor's, an "AA+"
<br />rating from Fitch and an "Aa2" rating from Moody's for general obligation 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 on the last
<br />tax assessment rolls. The current debt limitation for the County is $5.0 billion, which is in excess
<br />of the County's outstanding general obligation debt. Currently the County's outstanding debt
<br />represents 6 percent of our debt limitation.
<br />Additional information on 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 13.2
<br />percent, which is 9 percent higher than at the end of the prior fiscal year. This increase is
<br />a result of the current COVID-19 pandemic that is plaguing the world.
<br />• The number of domestic and international visitors to the County for the current fiscal
<br />year was approximately 1.29 million, with an approximately 23 percent decrease from the
<br />previous year's count of 1.67 million.
<br />-23-
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