2017-COH - Comprehensive Annual Financial Report

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The debt service funds consist of the Bond Redemption Fund and the Interest Fund. These fun& have combined total fund balances of $26.8 million, all of which is restricted for the payment of debt service. The net increase in the combined fund balances during the current year in the debt service funds was $3.3 million (I percent). Proprietaryfunds. The County's proprietary funds provide the same type of information fbi.M,4� in the government -wide financial statements, but in more detail. year amounted to $575,54 1, and $446,982 for the Ouli Ekahi Affordable Housing Project (Ouli Ekahi). The total net position for Kulaimano decreased by $26,177 and the net position for Ouli Ekahi increased by $55,083, Other factors concerning the finances of these two funds have already been addressed in the discussion of the County's business -type activities. 715311; 111 111 lid This is primarily due to the following factors: * The negative variance of $10.3 million in revenues is comprised mostly of $1.9 million from real property and public service company taxes, $5.2 million in intergovernmental revenues for both the federal and state grants and $1.7 million in total charges for services. * $6.5 million of the unspent appropriations is related to salaries and wages and tile various countywide expenditure accounts relating to salaries and wages, The variance is due primarily to unfilled vacancies and continued efforts by each department to control payroll costs during the budget year due to the tough economic conditions facing the County. The following functions are responsible for the majority of the variance: public safety ($3.5 million) and general government ($2.1 million). * $3.8 million is due to lower than anticipated payments needing to be made in retirement related payments, With each department increasing efforts to control costs, overtime was also closely monitored and the corresponding pension expenditures were not incurred. * $1.2 million is due to the fact that the increase in health premiums for employees' was lower than originally anticipated. Capital assets. The County's investment in capital assets for its governmental and business-ty-p; activities as of June 30, 2017 amounts to $1.3 billion (net of accumulated depreciation). This investment in capital assets includes land and improvements, buildings and improvements, equipment, casements, and infrastructure assets, which consists of primarily roads and bridges. The total increase in the County's investment in capital assets for the current fiscal year was 6 percent.