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GOVERNMENT -WIDE <br />FINANCIAL STATEMENTS <br />STATEMENT OF NET POSITION <br />The Statement of Net Position presents information on all the County's assets, liabilities, and deferred inflows/ <br />outflows of resources. The difference is reported as net position. Over time, increases or decreases in net <br />position may serve as a useful indicator of whether the financial position of the County is improving or <br />deteriorating. <br />In the case of the County, assets and deferred outflows of resources exceeded liabilities and deferred inflows by <br />$1,000.5 million at the close of the fiscal year. The largest portion of the County's net position reflects its net <br />investment in capital assets, such as land, buildings, infrastructure, intangibles, machinery, and equipment, less <br />any related outstanding debt used to acquire those assets. These capital assets amount to $744.7 million, or <br />74% of the County's net position. $150.2 million, or 15%, represents resources that are subject to external <br />restrictions on how they may be used. The remaining $105.6 million is unrestricted and may be used to meet the <br />County's ongoing obligations to citizens and creditors. <br />The increase in restricted net position was mainly due to an increase in revenues for state and federal grants, <br />including hurricane reimbursements, and insurance proceeds. The increase in net investment in capital assets <br />was a result of completed construction projects and decreased outstanding debt. The decrease in unrestricted <br />net position is due to an increase in the net pension liability. <br />t <br />F <br />5 <br />t <br />