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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, 2018 and 2017
<br />Primary Government
<br />Governmental Activities
<br />Business -type Activities Total
<br />2018 2017
<br />$ 256,390,951 $ 239,187,891
<br />309,295,827 328,917,985
<br />631,727,813 597,987,986
<br />6.169,006 4,244,255
<br />58,918,798 60,190,776
<br />50,591,695 71,118,202
<br />$1,313,094,090 $1,301,647,095
<br />2018 2017 2018 2017
<br />$ 753,877 $ 753,877 $ 257,144,828 $ 239,941,768
<br />309,295,827 328,917,985
<br />53,546 57,893 53,546 57,893
<br />574,454 610,498 632,302,267 598,598,484
<br />6,169,006 4,244,255
<br />20,666 26,673 58,939,464 60,217,449
<br />50,591,695 71,118,202
<br />$ 1,402,543 $ 1,448,941 $1,314,496,633 $1,303,096,036
<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 $407.4 million and State
<br />Revolving Fund loans of $35.6 million. At the end of the current fiscal year, the County had total
<br />bonded debt outstanding of $407.4 million. This entire amount was comprised of general
<br />obligation bonds which are backed by the full faith and credit of the County.
<br />The County's total bonded debt increased by $68.9 million (20 percent) during the current fiscal
<br />year due to the issuance of $138.8 million in bonds which were offset by the retirement of $69.9
<br />of bonds.
<br />At the end of the fiscal year, the County held an "AA+" rating from Fitch and an "Aa2" rating
<br />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 $4.6 billion, which is in excess
<br />of the County's outstanding general obligation debt. Currently the County's outstanding debt
<br />represents 9 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 3.0
<br />percent, which is the same percentage as the end of the prior fiscal year, and a 1.0 percent
<br />decline from two years ago and an even larger decline from the high of 11.0 percent in
<br />2011.
<br />• The number of domestic and international visitors to the County for the current fiscal
<br />year was approximately 1.83 million, with an approximately II percent increase from the
<br />previous year's count of 1.65 million.
<br />These factors were considered in preparing the County's budget for the 2019 fiscal year.
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