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STATEMENT OF NET POSITION
<br />Total
<br />................................................................................................
<br />2013
<br />2012
<br />Change
<br />...............................
<br />Current and other assets
<br />112,246,379
<br />119,944,263
<br />(7,697,884)
<br />Capital assets
<br />122,592,995
<br />120,896,281
<br />1,696,714
<br />...........................................................................................................................
<br />Total assets
<br />...........................................................................................................................
<br />$ 234,839,374
<br />$ 240,840,544
<br />...............................
<br />$ 6,001,170
<br />...............................
<br />Deferred Outflows
<br />1,191,851
<br />871,523
<br />320,328
<br />Long -term liabilities outstanding
<br />267,304,389
<br />280,507,394
<br />(13,203,005)
<br />Other liabilities
<br />13,001,089
<br />11,095,008
<br />1,906,081
<br />Total liabilities
<br />...........................................................................................................................
<br />$ 280,305,478
<br />$ 291,602,402
<br />$ (11,296,924)
<br />...............................
<br />Deferred inflows
<br />483,041
<br />379,620
<br />103,421
<br />Net position:
<br />2,099,099
<br />-
<br />16,583,769
<br />Net investment in capital assets
<br />36,537,930
<br />39,803,215
<br />(3,265,285)
<br />Restricted
<br />26,587,937
<br />38,656,332
<br />(12,068,395)
<br />Unrestricted
<br />(107,883,161)
<br />(128,729,502)
<br />20,846,341
<br />..........................................................................................................................
<br />Total net position
<br />..........................................................................................................................
<br />$ (44,757,294)
<br />$ (50,269,955)
<br />...............................
<br />$ 5,512,661
<br />...............................
<br />The Statement of Net Position presents information on all of the County's assets, deferred outflows of resources, liabili-
<br />ties, and deferred inflows of resources, with the difference reported as net position. Over time, an increase or decrease in
<br />net position may serve as a useful indicator of whether the financial position of the County is improving or deteriorating.
<br />Net position is one useful indicator of a government's financial condition. The liabilities and deferred inflows of resources
<br />of the County exceeded assets and deferred outflows of resources by $44.8 million as of June 30, 2013.
<br />Net Position is reported in three categories: Net investment in capital assets, of $36.5 million, restricted net position of
<br />$26.6 million, and unrestricted net deficit of $107.9 million.
<br />Ci
<br />�I'
<br />Summary of
<br />Long -Term Debt
<br />.......................................................................... ...............................
<br />General obligation bonds
<br />Installment notes payable
<br />Obligations under capital leases
<br />Revolving loan payable
<br />Bond issuance items, net
<br />Accrued compensated absences
<br />Separation allowance
<br />Post - closure liability
<br />OPEB liability
<br />$ Total
<br />Governmental
<br />Business
<br />-Type
<br />(Net Depreciation)
<br />Activities
<br />............................................................................................................
<br />Activities
<br />Total
<br />...............................
<br />2013
<br />2012
<br />2013
<br />2012
<br />2013
<br />2012
<br />86,205,000
<br />95,520,000
<br />-
<br />-
<br />86,205,000
<br />95,520,000
<br />107,796,269
<br />114,393,535
<br />9,429,225
<br />10,175,318
<br />117,225,494
<br />124,568,853
<br />1,746,233
<br />2,486,176
<br />325,128
<br />606,855
<br />2,071,361
<br />3,093,031
<br />2,099,099
<br />-
<br />-
<br />-
<br />2,099,099
<br />-
<br />16,583,769
<br />14,651,812
<br />-
<br />-
<br />16,583,769
<br />14,651,812
<br />4,928,399
<br />5,097,695
<br />306,274
<br />363,108
<br />5,234,673
<br />5,460,803
<br />578,122
<br />533,395
<br />-
<br />-
<br />578,122
<br />533,395
<br />-
<br />-
<br />12,959,312
<br />13,741,104
<br />12,959,312
<br />13,741,104
<br />22,862,358
<br />21,895,617
<br />1,485,201
<br />1,422,399
<br />24,347,559
<br />23,318,016
<br />242,799,249 254,578,230 24,505,140 26,308,784 267,304,389 280,887,014
<br />Orange County maintained for the fourth consecutive year, its Aa1 with positive outlook bond rating from Moody's Inves-
<br />tors Service and for the third consecutive year, its AAA rating from Standard and Poor's, and AAA with Fitch for the 10th
<br />consecutive year. These strong ratings allow the County to issue debt, vital to the County infrastructure, at a lower cost
<br />and reflect the sound financial condition of the County.
<br />Outstanding long -term debt off $267,304,389 consists of general obligation bonds, installment
<br />purchases, certificates of participation, federal revolving loans, post - closure liability, and other post - employment benefits
<br />(OPEB). The outstanding debt obligations consist of the following purposes: General Governmental, Education, Public
<br />Safety, Water and Sewer Projects and Technology.
<br />As of June 30, 2013, the County had total bonded debt outstanding of $86.2 million, all of which is debt backed by the
<br />full faith and credit of the County. In addition, the County has several capital leases related to equipment financings out-
<br />standing of $2.1 million and several installment notes with a total outstanding balance of $117.2 million.
<br />County Capital Assets
<br />(Net Depreciation)
<br />Governmental
<br />Activities
<br />Business
<br />Activities
<br />-Type
<br />Total
<br />2013
<br />2012
<br />2013
<br />2012
<br />2013
<br />2012
<br />Land
<br />13,008,016
<br />13,008,016
<br />1,907,609
<br />1,907,609
<br />14,915,625
<br />14,915,625
<br />Land improvements
<br />4,949,636
<br />4,949,636
<br />630,815
<br />648,826
<br />5,580,451
<br />5,598,462
<br />Water resources - Lake Orange
<br />481,624
<br />481,624
<br />-
<br />-
<br />481,624
<br />481,624
<br />Buildings
<br />64,999,915
<br />65,627,617
<br />8,542,899
<br />8,737,679
<br />73,542,814
<br />74,365,296
<br />Leasehold improvements
<br />2,814,613
<br />2,985,196
<br />-
<br />-
<br />2,814,613
<br />2,985,196
<br />Sewer lines
<br />-
<br />-
<br />2,454,119
<br />2,541,252
<br />2,454,119
<br />2,541,252
<br />Automotive equipment
<br />1,634,248
<br />1,860,522
<br />1,548,144
<br />992,662
<br />3,182,392
<br />2,853,184
<br />Office and other equipment
<br />1,553,385
<br />1,731,755
<br />-
<br />-
<br />1,553,385
<br />1,731,755
<br />Construction in progress
<br />16,358,712
<br />15,064,762
<br />1,709,260
<br />359,125
<br />18,067,972
<br />15,423,887
<br />$ Total 105,800,149 105,709,128 16,792,846 15,187,153 122,592,995 120,896,281
<br />............................................................................................................................................................................................... ............................... .
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