|
• $9.1 million of dedicated roads were received by the County in the current fiscal year.
<br />• $1.2 million of various other equipment and real property were dedicated and donated to the
<br />County in the current fiscal year.
<br />Land and improvements
<br />Infrastructure assets
<br />Ground and site improvements
<br />Buildings and improvements
<br />Easements
<br />Equipment
<br />Construction work in progress
<br />Total
<br />Capital Assets
<br />(net of depreciation)
<br />June 30, 2015 and 2014
<br />Primary Government
<br />Governmental Activities
<br />Business -type Activities
<br />Total
<br />2015
<br />2014
<br />2015
<br />2014
<br />2015
<br />2014
<br />$ 201,363,687
<br />$ 189,366,207
<br />$ 753,877
<br />$ 753,877
<br />$ 202,117,564
<br />$ 190,120,084
<br />278,990,393
<br />274,721,099
<br />-
<br />-
<br />278,990,393
<br />274,721,099
<br />-
<br />-
<br />66,585
<br />70,934
<br />66,585
<br />70,934
<br />495,445,600
<br />498,293,093
<br />682,586
<br />718,631
<br />496,128,186
<br />499,011,724
<br />3,830,410
<br />3,803,176
<br />-
<br />-
<br />3,830,410
<br />3,803,176
<br />50,250,220
<br />48,353,349
<br />37,161
<br />33,707
<br />50,287,381
<br />48,387,056
<br />60,966,761
<br />37,709,918
<br />-
<br />-
<br />—T
<br />60,966,761
<br />37,709,918
<br />$1,090,847,071
<br />$1,052,246,842
<br />$ 1,540,209
<br />I,577,149
<br />$1,092,387,280
<br />$1,053,823,991
<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 $313.4 million and State
<br />Revolving Fund loans of $21.6 million. At the end of the current fiscal year, the County had total
<br />bonded debt outstanding of $313.4 million. This entire amount was comprised of general
<br />obligation bonds and bond anticipation notes which are backed by the full faith and credit of the
<br />County.
<br />The County's total bonded debt increased by $37.9 million (13 percent) during the current fiscal
<br />year due to the issuance of $35.0 in bond anticipation notes.
<br />At the end of the fiscal year, the County maintained its "AA-" rating from Standard & Poor's and
<br />Fitch and "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 $3.8 billion, which is in excess
<br />of the County's outstanding general obligation debt. Currently the County's outstanding debt
<br />represents 8 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 5.0
<br />percent, which represents a percentage point decline from last year's rate for the same
<br />period of 6.0 percent, a two percent decline from two year ago and an even larger decline
<br />from the high of 11.0 percent in 2011.
<br />• The number of domestic and international visitors to the County for the current fiscal
<br />year was approximately 1.45 million, with an approximately 2.1 percent increase from
<br />the previous year's count of 1.42 million. For the most part, the County is less dependent
<br />on tourism than the other islands in the State, but the Kona airport terminal
<br />-23-
<br />
|