MANAGEMENT’S DISCUSSION AND ANALYSIS (In Thousands) Financial Statements Net Position: The following table reflects the overall financial condition of the Authority as of the last three fiscal years ended June 30, 2018, 2017 and 2016, respectively. 2018 Current assets Capital assets Other long-term assets Total Assets Deferred Outflow of Resources Current liabilities Long-term debt Other noncurrent liabilities Total Liabilities Deferred Inflow of Resources Net investment in capital assets Total Net Position Unrestricted $ $ 429,292 1,141,563 27,169 1,598,024 40,808 49,509 74,772 - 124,281 15,715 1,141,563 357,273 1,498,836 $ $ 2017 270,395 1,094,902 104,257 1,469,554 55,097 57,353 92,617 - 149,970 6,782 1,068,045 299,854 1,367,899 $ $ 2016 232,899 1,048,174 102,781 1,383,854 48,224 55,924 29,257 87,644 172,825 5,685 1,018,917 234,651 1,253,568 The Authority’s total current assets increased by $158,897 and $37,496 during fiscal years 2018 and 2017, respectively. Elements to consider related to these changes include: Cash and cash equivalents increased from $214,443 to $365,038 in fiscal year 2018 and increased from $185,923 to $214,443 in fiscal year 2017, thus resulting in a total increase of $179,115 over the two years. Accounts receivable – trade increased by $7,702 and by $6,370 in fiscal years 2018 and 2017 respectively. The increase from fiscal year 2016 is due to increased business activity. Accounts receivable – non-trade increased by $1,229 and by $2,943 in fiscal years 2018 and 2017 respectively. The net increase from fiscal year 2016 is due to federal grants activity. 6
