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i�� W K � 1 1`111 1! 111 1 A-91MINKv Notes to the Financial Statements June 30, 2020 H. Property Taxes (continued) Tax Collections - are the responsibility of the county tax collector. Taxes and assessments on secured and utility rolls which constitute a lien against the property, may be paid in two installments: The first is due on November 1 of the fiscal year and is delinquent if not paid by December 10; and the second is due on March I of the fiscal year and is delinquent if not paid by April 10. Unsecured personal property taxes do not constitute a lien against real property unless the taxes become delinquent. Payment must be made in one installment, which is delinquent if not paid by August 31 of the fiscal year. Significant penalties are imposed by the county for late payments. Tax Levy Apportionments - due to the nature of the County -wide maximum levy, it is not possible to identify general purpose tax rates for specific entities. Under State Legislation adopted subsequent to the passage of Proposition 13, apportionments to local agencies are made by the county auditor -controller based primarily on the ratio that each agency represented of the total County -wide levy for the three years prior to fiscal year 1979. Property Tax Administration Fees - The State of California FY1 990-91 Budget Act - authorized counties to collect an administrative fee for collection and distribution of property taxes. 1. Net Position and Fund Balances Government -Wide Financial Statements Net position represents the difference between all other elements in the statement of net position and should be displayed in the following three components: Net investment in capital assets - This component of net position consists of capital assets, net of accumulated depreciation, reduced by the outstanding balances of debt that are attributable to the acquisition, construction, or improvement of those assets. Restricted - This component of net position consists of restricted assets reduced by liabilities and deferred inflows of resources related to those assets. Unrestricted - This component of net position is the amount of the assets, deferred outflows of resources, liabilities, and deferred inflows of resources that are not included in the determination of net investment in capital assets or the restricted component of net position. Use of restricted and unrestricted net position When expenses are incurred for purposes for which both restricted and unrestricted net positions is available, the District's policy is to apply restricted fund balances first, then unrestricted net position as they are needed. 31