Statement of Net Position

2018 Popular Annual Financial Report

The Statement of Net Position presents financial information on all of the county's capital and current assets, minus the current liabilities and long-term debt. The resulting amount is stated as "net position."

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Assets 2018 2017 2016 2015 2014

Total current and other assets

$702,580,323 $742,296,728 $796,911,546 $562,936,675 $565,691,341
Total non-current assets $882,924,464 $902,314,881 $877,378,313 $859,297,510 $842,598,276
Total assets $1,585,504,787 $1,644,611,609 $1,674,289,859 $1,422,234,185 $1,408,289,617
Liabilities
Total current and other liabilities $306,414,893 $202,160.133 $142,162,743 $121,060,738 $116,291,713
Total non-current liabilities $549,655,167 $612,109,474 $746,516,944 $535,901,911 $336,241,048
Total liabilities $856,070,060 $814,269,607 $888,679,687 $656,962,649 $452,532,761
Net position
Net investment in capital assets $688,573,631 $684,577,172 $654,540,159 $649,693,002 $624,056,790
Restricted $172,934,163 $116,826,603 $127,814,838 $66,113,565 $93,663,238
Unrestricted ($132,073,067) ($177,885,569) $3,255,175 $82,008,935 $238,036,828
Total net position $729,434,727 **$623,518,206 $785,610,172 ***$797,815,502 *$788,006,950

 

*Due to required implementation of GASB 68, the 2014 ending net position was restated. Please see 2015 CAFR (PDF) for more information.

**Due to required implementation of GASB 75 related to other post-employment benefits and an error in accumulated depreciation, the 2017 ending net position was restated. Please see 2018 CAFR (PDF) for more information.

***Due to a restatement for capital assets transferred to the fleet fund, the 2016 ending net position was restated.

 

Assets and liabilities

  • Total assets increased 12.6% over the past five years, primarily due to the increase in current and other assets over this period.
  • Total liabilities increased 89% over the past five years, due largely to change in disclosure policies related to pension liabilities and other post-employment benefits

Net investments in capital assets

  • Capital assets increased 10.3% over the past five years. 
  • Infrastructure and construction in-progress was the key driver of the increase in capital assets. 
  • Capital assets: The county's land, building, equipment, improvements, infrastructure and construction in process, net of accumulated depreciation.
  • Net position: The difference between assets and liabilities, of which may or may not be available for future spending.
  • Net investment in capital assets: Represents the county's investment in its capital assets less accumulated depreciation and any outstanding debt attributable to the acquisition, construction or improvement of these assets.
  • Unrestricted net position: Represents the difference between assets and liabilities not restricted for use.