HomeMy WebLinkAbout2008 CAFR Part 3 I
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STATISTICAL SECTION
(UNAUDITED)
Contents Page
Financial Trends—These schedules contain trend information to help help the reader understand
how the County's financial performance and well-being have changed over time. 115
Revenue Capacity—These schedules contain information to help the reader assess the County's
most significant local revenue source,the property tax. 119
Debt Capacity—These schedules present information to help the reader assess the affordability of
the County's current levels of outstanding debt and the County's ability to issue additional debt in
the future. 125
Demographic and Economic Information—These schedules offer demographic and economic
indicators to help the reader understand the environment within which the County's financial
acitivities take place. 128
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Operating Information—These schedules contain service and infrastructure data to help the
reader understand how the information in the County's financial report relates to the services
provided and the activities performed by the County. 130
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Table 2
COUNTY OF HAWAII 3
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Changes in Net Assets j
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Last Six Fiscal Years
3
Fiscal Year i
2003 2004 2005 2006 2007 2008
Program Revenues
Governmental activities:
Charges for services: j
General government $ 1,911,070 $ 1,947,554 $ 3,227,420 $ 4,032,542 $ 4,460,016 $ 6,017,819
Public safety 4,349,355 5,061,174 6,262,259 6,975,962 5,798,126 5,843,733
Highways and streets 5,324,908 6,052,544 7,629,139 9,079,084 9,354,639 9,701,815
Health,education and welfare 991,725 884,075 1,272,091 980,147 799,075 754,758
Culture and recreation 1,593,620 1,588,945 1,521,127 1,439,784 1,634,008 1,595,409
Sanitation 10,596,469 13,653,722 15,465,478 16,469,745 18,486,502 18,643,952
Operating grants and contributions 31,544,494 33,327,191 36,370,993 38,252,889 38,068,138 46,117,399
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Capital grants and contributions 19,064,821 9,668,981 26,221,627 14,801,828 7,805,986 9,327,408
Total governmental activites program revenues 75,376,462 72,184,186 97,970,134 92,031,981 86,406,490 98,002,293
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Business-type activities:
Charges for services:
Health,education and welfare $ 304,671 $ 303,047 $ 314,971 $ 338,141 $ 345,802 $ 365,655
Operating grants and contributions 147,997 143,769 135,829 141,019 134,211 125,795
Total business-type activities program revenues 452,668 446,816 450,800 479,160 480,013 491,450
Total primary grovernment program revenues $ 75,829,130 $ 72,631,002 $ 98,420,934 $ 92,511,141 $ 86,886,503 $ 98,493,743
Expenses
Governmental activities:
General government $ 36,461,949 $ 40,085,357 $ 51,262,329 $ 38,264,132 $ 46,349,904 $ 68,794,961
Public safety 77,131,374 90,434,696 94,422,057 106,067,466 118,010,316 137,500,608
Highways and streets 15,512,957 17,563,608 20,857,341 24,783,476 28,185,968 33,577,707
Health,education and welfare 20,205,386 23,041,963 21,503,635 20,181,685 23,203,874 14,986,972
Culture and recreation 16,430,590 15,979,854 16,124,457 19,464,962 26,948,501 20,450,172
Sanitation 19,022,213 20,084,654 26,669,660 27,265,515 42,682,281 41,254,728
Interest on long-term debt 8,680,999 9,553,966 8,718,758 10,168,710 10,303,332 13,117,325
Total governmental activities expenses 193,445,468 216,744,098 239,558,237 246,195,946 295,684,176 329,682,473
Business-type activities:
Health,education and welfare 450,343 466,143 484,879 547,201 698,329 556,304 _
Total business-type activities expenses 450,343 466,143 484,879 547,201 698,329 556,304
Total primary government expenses $ 193,895,811 $217,210,241 $240,043,116 $246,743,147 $296,382,505 $330,238,777
Net Revenue(Expense)
Governmental activities $(118,069,006) $(144,559,912) $(141,588,103) $(154,163,965) $(209,277,686) $(231,680,180)
Business-type activities 2,325 (19,327) (34,079) (68,041) (218,316) (64,854)
Total primary government net expense $(118,066,681) $(144,579 239) $(141,622,182) $(154,232,006) $(209,496,002) $(231,745,034)
General Revenues and Other Changes in Net Assets
Governmental activities: a
General revenues:
Property taxes $ 109,151,524 $ 119,864,237 $ 129,775,410 $ 152,182,806 $ 183,611,050 $210,217,690
Public service company taxes 5,063,897 5,332,478 6,351,273 6,811,483 7,396,084 8,381,367
Franchise taxes 4,816,565 5,373,144 6,016,890 7,328,887 8,520,133 9,026,841
Fuel taxes 7,343,088 7,552,317 7,580,740 7,857,394 8,471,453 7,887,998
Grants and contributions not restricted to
specific programs 13,931,403 15,251,443 16,734,850 18,510,262 18,999,596 19,395,089
Investment earnings 1,936,635 1,729,531 2,957,188 4,976,178 9,727,911 11,454,850
Miscellaneous 4,641,884 4,825,259 3,657,794 2,110,854 3,063,413 7,801,194
Total governmental activities 146,884,996 159,928,409 173,074,145 199,777,864 239,789,640 274,165,029
Business-type activities:
General revenues:
Investment earnings 12,084 8,006 13,580 22,874 35,551 33,828
Total business-type activities 12,084 8,006 13,580 22,874 35,551 33,828
Total primary government $ 146,897,080 $ 159,936,415 $ 173,087,725 $ 199,800,738
_L239,825,191 $274,198,857
Changes In Net Assets
Governmental activities $ 28,815,990 $ 15,368,497 $ 31,486,042 $ 45,613,899 $ 30,511,954 $ 42,484,849
Business-type activities 14,409 (11,321) (20,499) (45,167) (182,765) (31,026)
Total primary government changes in net assets $ 28,830,399 $ 15,357,176 $ 31,465,543 $ 45,568,732 _L 30,329,189 $ 42,453,823
Unaudited-see accompanying independent auditors'report.
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Table 4
COUNTY OF HAWAII
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Changes in Fund Balances,Governmental Funds
(Modified accrual basis of accounting)
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Last Ten Fiscal Years
(Amounts in thousands) _
Fiscal Year
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Revenues: '
Property tax $84,792 $ 83,271 $ 84,240 $93,712 $109,991 $121,868 $131,087 $153,207 $181,446 $208,313 �-
Public service company tax - - - 5,108 5,064 5,332 6,351 6,812 7,396 8,381
Fuel tax 5,900 6,103 6,450 6,422 7,343 7,552 7,581 7,857 8,471 7,888
Public utility franchise tax 3,953 3,950 4,777 4,993 4,817 5,373 6,017 7,329 8,520 9,027
Licenses and permits 6,952 7,261 7,412 7,781 9,261 11,840 14,442 16,544 16,269 15,918
Intergovernmental 43,057 38,383 55,034 68,918 65,203 58,559 73,372 69,637 63,599 72,601
Charges for services 10,148 11,215 12,056 11,689 13,481 14,467 18,149 19,852 21,685 22,154
Invesment earnings 5,552 5,284 6,409 3,801 2,066 1,806 3,104 5,223 10,291 12,144
Miscellaneous 3,476 2,416 2,529 3,035 6,179 4,718 4,450 4,380 5,073 7,151
Total Revenues 163,830 157,883 178,907 205,459 223,405 231,515 264,553 290,841 322,750 363,577
}
Expenditures:
Current:
General government 20,797 21,442 22,073 20,192 22,317 23,070 26,183 31;153 37,652 42,991
Public safety 56,035 58,395 59,391 61,870 64,667 69,117 76,404 83,591 93,241 103,617
Highways and streets 8,148 8,006 9,998 8,376 8,675 9,542 9,787 12,608 14,033 19,529 a
Sanitation 12,287 12,856 13,481 14,789 16,629 17,602 21,883 26,565 31,817 33,405
Health,education and welfare 5,310 5,079 8,344 16,726 18,867 19,047 19,870 19,050 21,470 24,609
Culture and recreation 12,321 11,526 12,085 12,127 13,086 13,169 13,982 14,731 17,118 18,179
Pension and retirement contributions 9,785 5,641 3,679 11,019, 7,926 11,081 14,204 19,937 21,796 24,296 ;
Employees'healthinsurance 9,264 9,544 10,773 12,198 12,758 14,256 16,168 16,133 16,941 18,089 j
Other post employmnet benefits - - - - - - - - - 13,629
Miscellaneous 3,617 4,224 4,040 5,330 5,629 7,128 6,133 6,780 5,108 5,344
Debt service:
Principal 7,974 8,862 9,399 10,025 11,800 12,826 13,150 14,060 16,076 16,548 #
Interest 7,508 7,759 8,416 8,467 8,469 9,283 9,534 9,914 9,894 13,116
Capital outlay 28,708 21,909 37,648 41,580 32,952 23,474 32,816 30,588 52,285 70,156
Total Expenditures 181,754 175,243 199,327 222,699 223,775 229,595 260,114 285,110 337,431 403,508
Revenues over(under)Expenditures (17,924) (17,360) (20,420) (17,240) (370) 1,920 4,439 5,731 (14,681) (39,931)
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Other Financing Sources(Uses):
Sale ofassets 54 28 16 15 9 1,593 1,486 82 5 3,470 i
Capital leases - 2,677 23 930 1,353 1,474 1,369 404 2,403 2,187 _
State Revolving Fund loans 1,325 5,530 - 3,422 578 853 - 1,504 25 6,255 1,916 a
Sale ofbonds - - 29,878 - 15,175 37,262 1,725 30,000 25,000 85,000 - .�
Refunding bonds 18,776 24,595 31,607
Premium on bonds - - - - - - 3,025 972 3,099
Refunding bonds issuance costs - - - - - - (129) - (218)
Payment to refunded bond escrow agent - (18,776) - - - - (25,885) - (32,699) - I
Refund to lot owners (212) - - - - - - -
Transfers in 30,385 25,647 28,625 29,529 29,943 39,440 42,119 45,691 59,139 64,929
Transfers out 3(0,385) (25,634) (28,568) (30,367 29,943 39,440 (42,119) (45,691) (59,139) (64,929)
Total other financing sources 1,167 38,126 3,518 15,860 39,477 4,792 35,965 26,483 95,452 7,573
Net change in fund balances $(16,757) $ 20,766 $(16,902) $ (1,380) $ 39,107 $ 6,712 $ 40,404 $ 32,214 $ 80,771 $(32,358)
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Debt service as a percentage of
noncapitalexpenditures 10.1% 10.8% 11.0% 10.2% 10.6% 10.7% 10.0% 9.4% 9.1% 8.9%
Unaudited-see accompanying independent auditors'report.
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— 122—
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i
1
Table 6
l
COUNTY OF HAWAII
{
Principal Taxpayers
June 30,2008 and 1999
i.
i
Fiscal Year 2008 Fiscal Year 1999
Percentage Percentage
2007 of Total 1998 of Total
Assessed Assessed Assessed Assessed
Taxnaver Business Valuation Rank Valuation Valuation Rank Valuation
Hualalai Investors LLC Developer/Hotel $ 241,692,800 1 0.8%
Hilton Land Investment 1 LLC Hotel 225,835,700 2 0.7% - -
Mauna Kea Development Corp. Developer/Hotel 204,812,400 3 0.7% - -
WB-LCP Orchid Owner LLC Hotel 162,254,700 4 0.5% - -
WB KD Acquisition LLC Developer 150,186,100 5 0.5% - -
Mauna Lani Resort Inc. Developer/Hotel 110,729,300 6 0.4% 77,960,100 6 0.7%
1250 Oceanside Partners Developer 95,440,700 7 0.3% - -
Kona Coast Resort Ltd. Condo/Time Share 82,733,300 8 0.3% 45,528,800 9 0.4%
BRE/Waikoloa LLC Hotel 73,931,400 9 0.2% - -
Kona BB Property Hotel 64,923,900 10 0.2% - -
Kaupulehu Makai Venture Developer/Hotel - - 153,200,100 1 1.3% s
Global Resort Partners Hotel - - 122,500,000 2 1.0%
South Kohala Resort Corp. Developer - - 102,123,700 3 0.9%
t
Mauna Kea Beach Hotel Corp. Hotel - - 96,063,200 4 0.8%
Kamehameha Schools(a) Land trust - - 83,292,500 5 0.7%
M.L.Hotel Investors LP Hotel - - 65,543,100 7 0.5%
KM Kona Partners Developer - - 54,628,600 8 0.4%
Mauna Lani Resort Inc.(Operations) Agriculture - - 41,618,600 10 0.3%
$1,412,540,300 1.4% $ 842,458,700 7.0%
Note: Gross valuation at January 1,2007: $30,724,281,200
Gross valuation at January 1,1998: $12,074,938,272
NOTES:
(a) Formerly know as BP Bishop Estate Trustees.
I
Source: County of Hawaii,Department of Finance,Real Property Tax Division
i
{
Unaudited-see accompanying independent auditors'report.
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— 125 -
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Table 9
s
COUNTY OF HAWAII
Ratios of General Bonded Debt Outstanding
Last Ten Fiscal Years
Debt Percent of
Applicable to Net Taxable
Fiscal Legal Debt Property Per
Year Margin(a) Value(b) Capita(c)
1999 $ 129,633,204 1.3% $ 910
i
2000 162,716,490 1.6% 1,094
2001 156,636,220 1.6% 1,032
2002 161,310,657 1.5% 1,042
2003 187,316,839 1.6% 1,180
2004 176,693,195 1.4% 1,082
2005 195,198,142 1.3% 1,167
2006 205,219,940 1.2% 1,199
2007 281,836,503 1.2% 1,633
2008 265,431,280 1.0% N/A
NOTES:
(a)See Table 10 for debt applicable to legal debt margin.
(b)See Table 5 for net taxable property values.
(c)See Table 11 for population data.
Details regarding the County's outstanding debt can be found in the
notes to the basic financial statements.
Unaudited-see accompanying independent auditors'report.
i
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- 126-
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- 127-
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Table 11
COUNTY OF HAWAII i
a
Demographic and Economic Statistics
Last Ten Fiscal Years
i
i
i
Fiscal Personal Per
i
Year Resident Income Capita
Ended Population (thousands Personal School Unemployment
June 30, as of July 1 of dollars) Income Enrollment Rate
A
1998 145,833 $ 2,865,367 $ 19,648 30,715 8.7%
1999 146,970 2,987,074 20,324 30,926 7.8%
2000 148,677 3,195,347 21,435 30,193 4.7%
2001 150,806 3,371,216 22,347 29,792 5.0%
2002 153,040 3,563,723 23,268 29,826 4.6%
2003 156,127 3,721,683 23,808 29,635 4.6%
2004 159,865 4,056,218 25,331 29,827 3.9%
2005 164,462 4,439,841 26,946 30,262 3.3%
2006 169,061 4,749,753 28,036 30,539 2.9%
2007 172,547 N/A N/A 30,544 3.4%
i
i
Source: County of Hawaii,Department of Research and Development
i
Unaudited-see accompanying independent auditors'report.
i
i
i
i
i
- 128 -
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I
i
Table 12
COUNTY OF HAWAII
Principal Employers,County of Hawaii
June 30,2008 and 1999
2008 1999
Percentage Percentage
of Total County of Total County
Employer Employees Rank Employment Employees Rank Employment
State of Hawaii 8,009 1 9.6% 7,450 1 11.7%
County of Hawaii 2,538 2 3.0% 2,250 2 3.5%
United States Government 1,279 3 1.5% 850 5 1.3%
Hilton Waikoloa Village 1,200 4 1.4% 1,200 4 1.9%
Fairmont Orchid Hawaii 900 5 1.1% 554 7 0.9%
KTA Super Stores 800 6 1.0% 776 6 1.2%
Mauna Lani Bay Hotel&Bungalows 785 7 0.9% 800 8 1.2%
Hapuna Beach Prince Hotel 650 8 0.8% 579 9 0.9%
Four Seasons Resort Hualalai 587 9 0.7% - -
North Hawaii Community Hospital 438 10 0.5% -
Mauna Kea Beach Hotel -
(closed for renovations in 2008) - - 543 10 0.9%
C.Brewer&Co. - - 1,987 3 3.1%
Total 17,186 20.5% 16,989 26.6%
Total employee count 83,792 63,850
s
Source: County of Hawaii,Department of Research and Development
Unaudited-see accompanying independent auditors'report.
F
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