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GOVERNMENT -WIDE FINANCIAL STATEMENTS STATEMENT OF NET POSITION The Statement of Net Position presents information on all the County's assets, liabilities, and deferred inflows/ outflows of resources. The difference is reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the County is improving or deteriorating. In the case of the County, assets and deferred outflows of resources exceeded liabilities and deferred inflows by $1,000.5 million at the close of the fiscal year. The largest portion of the County's net position reflects its net investment in capital assets, such as land, buildings, infrastructure, intangibles, machinery, and equipment, less any related outstanding debt used to acquire those assets. These capital assets amount to $744.7 million, or 74% of the County's net position. $150.2 million, or 15%, represents resources that are subject to external restrictions on how they may be used. The remaining $105.6 million is unrestricted and may be used to meet the County's ongoing obligations to citizens and creditors. The increase in restricted net position was mainly due to an increase in revenues for state and federal grants, including hurricane reimbursements, and insurance proceeds. The increase in net investment in capital assets was a result of completed construction projects and decreased outstanding debt. The decrease in unrestricted net position is due to an increase in the net pension liability. 2016 Increase (Decrease) Assets Current and other assets Capital assets Total Assets $361.8 789.8 $1,151.6 Deferred Outflows of Resources Liabilities Other liabilities Long-term liabilities Total liabilities 47.8 $30.8 (2.6) 28.2 11.3 128.5 87.6 216.1 20.5 (6.9) 13.6 Deferred Inflows of Resources 5.1 3.6 Net Position Net investment in capital assets Restricted Unrestricted Total net position 739.8 132.1 106.3 $978.2 4.9 18.1 (0.7) $22.3 (Chart in millions) 4