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Indian River County, Florida
<br />Statement of Revenues, Expenses, and Changes in Fund Net Position
<br />Proprietary Funds
<br />For the Year Ended September 30, 2012
<br />Business -type Activities -
<br />Solid Waste
<br />Disposal Golf
<br />District Course
<br />OPERATING REVENUES
<br />Charges for services $ 9,582,955 $
<br />Charges for services pledged as
<br />security for revenue bonds - 3,216,471
<br />Total operating revenues 9,582,955 3,216,471
<br />OPERATING EXPENSES
<br />Personal services 533,291 537,390
<br />Material, supplies, services and
<br />other operating 9,283,395 1,643,574
<br />Depreciation 842,318 129,906
<br />Total operating expenses 10,659,004 2,310,870
<br />Operating income (loss)
<br />(1,076,049) 905,601
<br />NONOPERATING REVENUES (EXPENSES)
<br />Interest income 268,633
<br />Interest income pledged as
<br />security for revenue bonds - 4,088
<br />Gain on disposal of equipment - 625
<br />Interest expense - (109,301)
<br />Bond amortization expense - (31,432)
<br />Loss on disposal of equipment - -
<br />Total nonoperating revenues (expenses) 268,633 (136,020)
<br />Income (loss) before transfers and
<br />capital contributions
<br />Capital contributions
<br />Capital grants
<br />Transfers in
<br />(807,416) 769,581
<br />Transfers out - (7,532)
<br />Change in net position (807,416) 762,049
<br />Total net position - beginning, as restated (Note 21C) 48,669,442 4,524,876
<br />Total net position - ending $ 47,862,026 $ 5,286,925
<br />The accompanying notes are an integral part of the financial statements.
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