2022 Annual Comprehensive Financial Report

8. Changes in Long-Term debt are as follows: Long-term liability activity for the year ended June 30, 2022, was as follows:

Beginning

Ending

Due Within

Balance (1)

Balance, Restated Addit ions

Reduct ions

One Year

Governmental Activi ties: Bonds and Notes Payable: General Obligat ion Bonds

276,585,000 $ $

(23,990,000) $ (4,093,853) (43,995,000) (2,196,702)

252,595,000 $

21,285,000 $

Premium on General Obligat ion Bonds

24,670,487 62,750,000 4,171,971

20,576,634 66,600,000 1,975,269

3,635,794 3,075,000

Limited Obligat ion Bonds

47,845,000

Premium on Limited Obligat ion Bonds

239,311

Sect ion 108 HUD Loan

894,000

(894,000)

Total Debt Payable

369,071,458

47,845,000

(75,169,555)

341,746,903

28,235,105

Other Liabilities Net Pension Liability (LGERS) (3) Net Pension Liability (LEOSSA) (3)

72,294,216 27,179,927 101,200,998 14,424,660 1,145,430 14,767,070

(42,652,495) (444,949) (5,352,634) (5,235,403) (1,025,430) (8,988,812)

29,641,721 26,734,978 95,848,364 21,715,130

Net OPEB Liability (3)

Lease Liabilit ies

12,525,873

5,043,615

Other Financing Agreement s Compensated Absences (2)

120,000

120,000

9,778,307

15,556,565

7,960,247

Governmental Act ivity Long-Term Liability (1)

600,083,759 $

70,149,180 $

(138,869,278) $

531,363,661 $

41,358,966 $

Business-Type Activi ties: Bonds and Notes Payable: Revenue Bonds

265,400,000 $ 20,985,074 36,656,545 42,170,000 65,465,000 430,676,619

87,935,000 $

(24,405,000) $ (4,843,270) (63,021,999) (1,315,000)

328,930,000 $

14,640,000 $

Premium on Revenue Bonds Direct Placement Revenue BANS

8,187,711 26,365,454

24,329,515

5,252,028

Limited Obligat ion Bonds - Performing Art s

40,855,000 64,570,000 458,684,515

1,350,000 2,175,000 23,417,027

Limited Obligat ion Bonds - Parking

(895,000)

Total Debt Payable

122,488,165

(94,480,269)

Other Liabilities Net Pension Liability (LGERS) (3)

14,724,425 23,249,256 28,015,814

(8,623,084) (463,961)

6,101,341 22,785,295 47,490,934

Net OPEB Liability (3) Accrued Landfill Liability

19,475,120

500,000 203,862

Lease Liabilit ies

668,942

(203,322) (2,036,862)

465,620

Compensated Absences

2,714,961

2,143,122

2,821,221

1,665,281

Business-Type Act ivity Long-Term Liability

499,381,075 $

144,775,349 $

(105,807,498) $

538,348,926 $

25,786,170 $

1 Internal Service Funds predominately serve the governmental funds. Accordingly, the related long term liabilities are included as part of the above totals for governmental activities. The Internal Service Funds debt totals are noted below. 2 The General Fund primarily is used to liquidate the liabilities for compensated absences associated with governmental activities. 3 The General Fund primarily is used to liquidate the liabilities for the net pension liabilities and other post-employment benefits associated with governmental activities. Debt obligations recorded in the Coliseum Enterprise Fund, not contemplated to be repaid with the Fund’s own resources, are reported as general government debt for financial reporting purposes, according to guidance in NCGAS Statement No. 1.

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