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Increase (decrease) in net assets 75,648,663 55,618,503 13,280 (41,990) 75,661,943 55,576,513
<br />Net assets at beginning ofyear 606,436,981 550,818,47E 943,634 985,624 607,380,615 551,804,102
<br />Net assets at end of year 682,x$5,644 606,436,981 956,914 943,634 683,042,558 S 607,380,615
<br />Analysis of Changes in Net Assets
<br />Governmental activities. Governmental activities increased the County's net assets by
<br />$75.6 million or basically all of the total growth in net assets of the County.
<br />Total revenues increased b $26.5 million percent). The combined total revenues for both the
<br />Operating and Capital grants and contributions also increased by approximately $42.9 million,
<br />which related mostly to sanitation and highways and streets projects. This increase in grants and
<br />contributions revenue was offset by decreases in the other revenue sources. The most significant
<br />decrease of $15.2 million was in real property taxes, which was due to a slight decline in the
<br />value ofnt taxable real property as evidenced in the accompanying statistical tables.
<br />Total expenses increased by $6.4 million 2 percent), The major reason for the increase was due
<br />to the rising cost of labor. The cost of employees' health care increased specifically relating to
<br />future health benefits for employees by approximately $1.3 million and overall salaries and gages
<br />increased b 2.6 million as a result of a reduction in the number of furlough days that employees
<br />in several bargaining grits were required to take each month.
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<br />Condensed Statement of Activities
<br />For the
<br />Fiscal Years Ended June
<br />30, 2012 and 2011
<br />Primary Government
<br />Governmental Activities
<br />Business-type Activities
<br />Total
<br />2012
<br />2011
<br />2012 2011
<br />2012
<br />2011
<br />Revenues:
<br />Program revenues:
<br />Charges for services
<br />$ 34,875,798
<br />$ 34,044,547
<br />393,464 372,599
<br />$ 35,269,262 S 34,417,146
<br />Operating grants and contributions
<br />45,767,655
<br />50,820,951
<br />1312227 133,215
<br />45,898,882
<br />50,954,166
<br />Capital grants and contributions
<br />86,754,033
<br />38,810,806
<br />- -
<br />86,754,033
<br />38,8 l OP806
<br />General revenues:
<br />Property taxes
<br />209,894,427
<br />225,055,099
<br />- -
<br />209,894,427
<br />225,055,099
<br />Other tars
<br />29,255,027
<br />265315,977
<br />- -
<br />29,255,027
<br />26,315,977
<br />Grants and contributions, unrestricted
<br />19,074,105
<br />19,533,165
<br />- -
<br />19,074,105
<br />19,533P165
<br />Investment earnings
<br />230,804
<br />609,617
<br />5,641 2,997
<br />236,445
<br />612,614
<br />Other
<br />1,773,258
<br />5,973,275
<br />- -
<br />1,773,258
<br />5,973,275
<br />Total revenues
<br />427,625,107
<br />401,163,437
<br />530,332 508,811
<br />428,155,439
<br />4017672,248
<br />Expenses:
<br />General government
<br />56,115,599
<br />53,439,428
<br />- -
<br />56, 115,599
<br />53,439,428
<br />Public safety
<br />152,288,979
<br />154,008,027
<br />- -
<br />152,288,979
<br />154,008,027
<br />Highways and streets
<br />42,462,299
<br />34,812,1 5
<br />- -
<br />4274627299
<br />34PS 122165
<br />Health, education and welfare
<br />28,127,691
<br />30,336,420
<br />517,052 550P801
<br />28,644,743
<br />30,887,221
<br />Culture and recreation
<br />237412,948
<br />222167,818
<br />- -
<br />23,412,948
<br />22,167,8 18
<br />Sanitation
<br />35,049,546
<br />3504,394
<br />- -
<br />35,049,546
<br />35,604,394
<br />Interest on long-term debt
<br />14,519,382
<br />15,176,6 2
<br />-
<br />147519,382
<br />15,176,682
<br />Total expenses
<br />351,976,44
<br />345,544,934
<br />517,052 550,801
<br />352,493,496
<br />346,095,735
<br />Increase (decrease) in net assets 75,648,663 55,618,503 13,280 (41,990) 75,661,943 55,576,513
<br />Net assets at beginning ofyear 606,436,981 550,818,47E 943,634 985,624 607,380,615 551,804,102
<br />Net assets at end of year 682,x$5,644 606,436,981 956,914 943,634 683,042,558 S 607,380,615
<br />Analysis of Changes in Net Assets
<br />Governmental activities. Governmental activities increased the County's net assets by
<br />$75.6 million or basically all of the total growth in net assets of the County.
<br />Total revenues increased b $26.5 million percent). The combined total revenues for both the
<br />Operating and Capital grants and contributions also increased by approximately $42.9 million,
<br />which related mostly to sanitation and highways and streets projects. This increase in grants and
<br />contributions revenue was offset by decreases in the other revenue sources. The most significant
<br />decrease of $15.2 million was in real property taxes, which was due to a slight decline in the
<br />value ofnt taxable real property as evidenced in the accompanying statistical tables.
<br />Total expenses increased by $6.4 million 2 percent), The major reason for the increase was due
<br />to the rising cost of labor. The cost of employees' health care increased specifically relating to
<br />future health benefits for employees by approximately $1.3 million and overall salaries and gages
<br />increased b 2.6 million as a result of a reduction in the number of furlough days that employees
<br />in several bargaining grits were required to take each month.
<br />�1 .
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