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Net position: Net Investment in capital assets Restricted - Joint Venture Restricted - Assessment Districts Unrestricted $ 93,386,635 38,169,562 2,056,208 15,235,443 $148.847,848 $ 87,531,379 38,087,886 6,784,672 18,076,225 $ 1504NI 2 The largest portion (62.7 percent) of the District's net position reflects its investment of $93.4 million in capital assets (land, buildings, improvements, equipment, infrastructure and construction in progress, net of accumulated depreciation), less any related outstanding debt used to acquire those assets. The District has no debt related to asset acquisition. The District uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. $38.2 million (25.6 percent) in restricted net position reflects the Districts investment in its joint venture with the City of Thousand Oaks - Conejo Open Space Conservation Authority (COSCA). The District's share of COSCA's capital assets totals $38.2 million. These assets are not available for future spending. Another portion of the Districts net position, $2.1 million (1.4 percent) represents resources available in the Districts three assessment districts. The remaining balance $15.2 million (10.3 percent) may be used to meet the District's ongoing obligation to citizens, employees and creditors and to meet District imposed designations for postemployment benefits other than pensions, and operating reserves. The increase in noncurrent liabilities consists of an increase in the District's pension liability of $2.6 million and the fiscal year 2017-18 other Post Employment Benefit (OPEB) liability of $6.1 million as a result of GASB statements 68, 71 and 75. The District has $15.4 million of restricted general fund balance for pension and OPEB liabilities. Statement of Activities As shown in the table below, the District's change in net position due to FY 17-18 activity is an increase of $5.1 million. Charges for Services includes recreation fees, rent, and accounting services provided to the MRCA JPA. Operating Grants and Contributions include the operations share of assessment district revenues and COSCA. Capital Grants and Contributions include the capital share of the assessment district revenues, developer fees and grants. Property Tax increases reflect the increasing real estate valuations. Investment Income increased due to the rising interest rate market. Other revenue includes licenses/permits and miscellaneous. The increase in expenses is due primarily to capital activity, addressed elsewhere in this report. The prior period adjustment is due to new reporting requirements related to implementation of GASB 75, accounting and reporting for Post employment Benefits Other Than Pension (OPEB). Page 17