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Condensed Statements of Activities
<br />For the Fiscal Years Ended June 30, 2018 and 2017
<br />Revenues:
<br />Program revenues:
<br />Charges for services
<br />Operating grants and contributions
<br />Capital grants and contributions
<br />General revenues:
<br />Property taxes
<br />Other taxes
<br />Grants and contributions, unrestricted
<br />Investment earnings
<br />Other
<br />Total revenues
<br />Expenses:
<br />General government
<br />Public safety
<br />Highways and streets
<br />Health, education and welfare
<br />Culture and recreation
<br />Sanitation
<br />Interest on long-term debt
<br />Total expenses
<br />Increase (Decrease) in net position
<br />Net position at beginning of year
<br />Prior period adjustment
<br />Net position at beginning of year,
<br />as restated
<br />Net position at end of year
<br />Primary Government
<br />Governmental Activities
<br />Business -type Activities Total
<br />2018 2017 2018 2017 2018 2017
<br />$ 50,576,723 $ 49,289,344 $ 503,597 $ 469,082 $ 51,080,320 $ 49,758.426
<br />57,600,066 52,897,945 224,921 132,435 57,600,066 53,030,380
<br />31,530,719 14,784,692 - 31,530,719 14,784,692
<br />304,294,883
<br />29,285,662
<br />19,678,289
<br />1,841,356
<br />2,339,248
<br />268,869,322
<br />24,662,766
<br />19,810,090
<br />661,184
<br />7,092,071
<br />304,294,883
<br />29,285,662
<br />19,678,289
<br />5,561 1,243 1,846,917
<br />2,339,248
<br />268,869,322
<br />24,662,766
<br />19,810,090
<br />662,427
<br />7,092,071
<br />497,146,946 438,067,414
<br />734,079 602,760 497,881,025 438,670,174
<br />75,740,262
<br />245,139,168
<br />54,728,332
<br />35,597,718
<br />35,834,512
<br />55,025,011
<br />15,493,678
<br />72,836,020
<br />229,507,091
<br />51,368,841
<br />40,299,077
<br />35,213,973
<br />56,605,864
<br />13,385,794
<br />566,864 573,854
<br />75,740,262
<br />245,139,168
<br />54,728,332
<br />36,164,582
<br />35,834,512
<br />55,025,011
<br />15,493,678
<br />72,836,020
<br />229,507,091
<br />51,368,841
<br />40,872,931
<br />35,213,973
<br />56,605,864
<br />13,385,794
<br />517,558,681
<br />499,216,660 566,864
<br />573,854 518,125,545 499,790,514
<br />(20,411,735)
<br />434,457,254
<br />(274,026,503)
<br />(61,149,246)
<br />495,606,500
<br />167,215 28,906
<br />1,546,815 1,517,909
<br />(20,244,520)
<br />436,004,069
<br />(274,026,503)
<br />(61,120,340)
<br />497,124,409
<br />160,430,751"
<br />495,606,500 1,546,815
<br />1,517,909 161,977,566 497,124,409
<br />$ 140,019,016 $ 434,457,254 $ 1,714,030 $ 1,546,815 $ 141,733,046 $ 436,004,069
<br />*Due to the implementation of GASB 75, a prior period adjustment to governmental
<br />activities of $274,026,503 is reflected in June 2018. The restated beginning balance for
<br />fiscal year 2018 is $160,430,751 for governmental activities. See Note I for details.
<br />Analysis of Changes in Net Position
<br />Governmental activities. Governmental activities, including the impact of the prior period
<br />restatement for GASB 75, decreased the County's net position by $294.4 million or basically all
<br />of the total decrease in net position of the County.
<br />The primary reasons for the $59.1 million (13.5 percent) increase in total revenues was due to
<br />property taxes increasing by approximately $35.4 million, which was due to increases in the value
<br />of net taxable real property, of which the most notable was a $521.5 million increase in the
<br />homeowners class that represented an 8 percent increase from the prior year, and then followed
<br />by a $494.9 million increase in the residential classes (6 percent increase). Capital grants and
<br />contributions also increased by approximately $16.7 million, which related to increases in
<br />highways and streets projects ($18.7 million).
<br />Total expenses increased by $18.3 million, which represented a 4 percent change from the prior
<br />year. There were the typical increases in salaries and wages and related employment benefit costs
<br />across all functions in the current fiscal year.
<br />- 20-
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