MDTA Annual Comprehensive Financial Report 2024

Detailed Analyses Financial Position

Table 1 is a summarized version of the Statement of Net Position for the years ended June 30, 2024, and 2023. The table reflects the MDTA’s overall change in financial resources and claims on those resources. The majority of the MDTA’s assets consist of cash, investments, intergovernmental financing lease receivables, and capital assets. Liabilities primarily represent accounts payable, accrued liabilities, pensions, and bonds payable.

TABLE 1: NET POSITION (In Thousands) For the Fiscal Years Ended June 30

2024

2023

Variance

% Change

Current Assets Noncurrent Assets Capital Assets, Net Total Assets

$

951,253 854,448

$

755,409 858,266

$

195,844 (3,818) 168,200 360,226

25.9% -0.4%

7,547,605 9,353,306

7,379,405 8,993,080

2.3% 4.0%

Deferred Outflow of Resources

152,788

129,384

23,404

18.1%

Current Liabilities Long-Term Bonds Payable Other Long-Term Liabilities Total Liabilities

439,728 2,574,532 316,339 3,330,599

440,978 2,696,414 288,871 3,426,263

(1,250) (121,882) 27,468 (95,664)

-0.3% -4.5% 9.5% -2.8%

Deferred Inflow of Resources

115,122

146,003

(30,881)

-21.2%

Net Position Net Investment in Capital Assets Restricted Unrestricted Total Net Position

5,155,046 401,539 503,788 $ 6,060,373

4,892,521 100,061 557,616 $ 5,550,198

262,525 301,478 (53,828) 510,175

5.4% 301.3% -9.7% 9.2%

$

Current Assets Current assets increased by $195.8 million, or 25.9%, in 2024. The increase was primarily due to the recognition of $350 million in insurance proceeds for the Key Bridge and a $30.9 million increase in intergovernmental receivables that included federal funds for Key Bridge debris removal. These increases were offset by a $207.0 million reduction in restricted cash and cash equivalents, cash and cash equivalents, and investments primarily as a function of capital spending.

Annual Comprehensive Financial Report For Fiscal Year Ended June 30, 2024 | 35

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