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<br /> Condensed Schedule of Changes in Net Assets
<br /> For the Fiscal Years Ended June 30,2008 and 2007
<br /> Primary Government
<br /> Governmental Activities Business-type Activities Total
<br /> 2008 2007 2008 2007 2008 2007
<br /> Revenues:
<br /> Program revenues:
<br /> Charges for services $ 42,557,486 $ 40,532,366 $ 365,655 $ 345,802 $ 42,923,141 $ 40,878,168
<br /> Operating grants and contributions 46,117,399 38,068,138 125,795 134,211 46,243,194 38,202,349
<br /> Capital grants and contributions 9,327,408 7,805,986 - - 9,327,408 7,805,986
<br /> General revenues:
<br /> Property taxes 210,217,690 183,611,050 - 210,217,690 183,611,050
<br /> Other taxes 25,296,206 24,387,670 - 25,296,206 24,387,670
<br /> Grants and contributions,unrestricted 19,395,089 18,999,596 - - 19,395,089 18,999,596
<br /> Investment earnings 11,454,850 9,727,911 33,828 35,551 11,488,678 9,763,462
<br /> Miscellaneous 7,801,194 3,063,413 - - 7,801,194 3,063,413
<br /> Total revenues 372,167,322 326,196,130 525,278 515,564 372,692,600 326,711,694 s
<br /> Expenses: j
<br /> General government 68,794,961 46,349,904 - 68,794,961 46,349,904
<br /> Public safety 137,500,608 118,010,316 - 137,500,608 118,010,316
<br /> Highways and streets 33,577,707 28,185,968 - - 33,577,707 28,185,968
<br /> Health,education and welfare 14,986,972 23,203,874 556,304 698,329 15,543,276 23,902,203
<br /> Culture and recreation 20,450,172 26,948,501 - - 20,450,172 26,948,501
<br /> Sanitation 41,254,728 42,682,281 - 41,254,728 42,682,281
<br /> Interest on long-term debt 13,117,325 10,303,332 - 13,117,325 10,303,332
<br /> Total expenses 329,682,473 295,684,176 556,304 698,329 330,238,777 296,382,505
<br /> Increase(decrease)in net assets 42,484,849 30,511,954 (31,026) (182,765) 42,453,823 30,329,189
<br /> Net assets at beginning of year 470,996,749 440,484,795 1,130,997 1,313,762 472,127,746 441,798,557
<br /> Net assets at end of year $513,481,598 $470,996,749 $ 1,099,971 $ 1,130,997 $514,581,569 $472,127,746
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<br /> Analysis of Changes in Net Assets 1
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<br /> Governmental activities. Governmental activities increased the County's net assets by$42.5
<br /> million or substantially all of the total growth in net assets of the County.
<br /> Total revenues increased by$46.0 million(14 percent). The County's property taxes increased
<br /> by$26.6 million(14 percent)during the year. Most of this increase is attributable to the increase
<br /> in assessed values. Miscellaneous Revenues increased by$4.7 million(155 percent)mostly due
<br /> to the sale of real property. Investment earnings and operating grants and contributions increased
<br /> by$1.7 million(18 percent)and$8.0 million(21 percent),respectively.
<br /> Total expenses increased by$34.0 million(11 percent). The majority of the expense categories
<br /> increased and this was partly due to negotiated pay raises and related benefits. Much of the
<br /> increase in all areas is due to the increased cost of employee benefits,particularly employee
<br /> retirement and health insurance costs and the implementation of Governmental Accounting
<br /> Standards Board Statement No.45,Accounting and Financial Reporting by Employers for
<br /> Postemployment Benefits Other than Pensions(GASB Statement No.45). Increases are also due 1
<br /> to an increase in capital project expenditures for this fiscal year. For the most part,other
<br /> fluctuations in expenses closely paralleled inflation and growth in demand for services.
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