2005-038 - Laserfiche WebLink

Home Browse Search

Comprehensive Plan Capital Improvements Element Court Related All costs of operating the judicial branch of Indian River County Government are classified here. This category includes the County Court, Circuit Court, State Attorney's Office and Public Defender. As shown in table 6.5, expenditures from this category totaled $6,210,614.00 in FY 2003/04. Between fiscal years 2002/03 and 2003/04, Court Related expenditures increased by 3.54%. Beginning in FY 1997/1998, the State of Florida mandated that the county begin recording Court Related costs as a separate expenditure item. Court Related costs represented 4.390/0 of all county expenses in FY 2003/04. Debt Service Debt service consists of interest and payments made by the county on its debt. This figure includes principal retirement, interest and other miscellaneous debt service. As table 6.5 indicates, total county debt service expenditures were $3,727,534.00 in FY 2003/04. Between fiscal years 2002/03 and 2003/04, debt service expenditures decreased by 17.54%. Since FY 1998/99, debt service expenditures have increased by 32.16%. Debt service expenses represented 2.64% of all county expenses in FY 2003/04. Existing Outstanding Debt At the end of FY 2003/04, Indian River County's outstanding debt, comprised mostly of revenue bonds, stood at $108,545,000. This is shown in table 6 6 In 1993, the county took advantage of lower interest rates and refunded any debt that had reasonable future economic savings. Enterprise Funds support 84.6% of the overall debt (Utility Dept 76.7%; and Golf Course 7.8%), leaving only $16,050,000 in bonds paid from general governmental funds. In November 2001, Indian River County issued the remaining $11,000,000 of the $26,000,000 voter approved Environmentally Sensitive Land Acquisition general obligation bonds. This is the most recent bond series issued by Indian River County. Also in 2001, the County issued $16,810,000 in Spring Training Facility Bonds to finance the acquisition and expansion of the Dodgertown spring training facility. Finally, two bonds were refinanced in 2003 to take advantage of lower interest rates: the 1993 Series Refunded Recreational Revenue Bonds and the 1995 Series Environmental Lands Acqusition Bonds. Community Development Department Indian River County Supplement #_; Ordinance 2005- 22