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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2012 <br />Note Page <br />1. Summary of Significant Accounting <br />Policies 44 <br />Reporting Entity 44 <br />Measurement Focus and <br />Basis of Accounting 45 <br />Basis of Presentation 48 <br />Assets, Liabilities, Deferred Outflows <br />Or Inflows of Resources, and <br />Net Position or Fund Balances 50 <br />Cash and Cash Equivalents 50 <br />Investments 50 <br />Allowance for Doubtful Accounts 50 <br />Receivables and Payables 51 <br />Inventories 51 <br />Prepaid Items 51 <br />Other Assets Held For Resale 51 <br />Restricted Net Position 51 <br />Capital Assets 52 <br />Capitalization of Interest 53 <br />Deferred Inflows/Outflows 53 <br />Unearned Revenues 53 <br />Accrued Compensated Absences53 <br />Obligation for Bond Arbitrage <br />Rebate 54 <br />Landfill Closure Costs 54 <br />Unamortized Bond Discounts <br />and Premiums 54 <br />Capital Contributions 54 <br />New Accounting Pronouncements54 <br />2. Reconciliation of Government -wide <br />and Fund Financial Statements 55 <br />3. Stewardship, Compliance and <br />Accountability 59 <br />Budget and Budgetary Accounting59 <br />4. Cash and Cash Equivalents 60 <br />Deposits 60 <br />Accrued Interest 60 <br />Investments 60 <br />OPEB Trust Investments 64 <br />5. Property Tax Revenues 65 <br />6. Capital Assets 66 <br />43 <br />Note Page <br />7. Restricted Cash and Cash Equivalents <br />and Investments 69 <br />8. Payable from Restricted Assets 69 <br />9. Interfund Balances 70 <br />10. Interfund Transfers 71 <br />11. Due from Other Governments 72 <br />12. Accounts Payable 72 <br />13. Long-term Liabilities 74 <br />Changes in Long-term Liabilities 74 <br />Governmental Activities 75 <br />Annual Debt Service Payments — <br />Governmental Activities 75 <br />Limited General Obligation Bonds 76 <br />General Obligation Bonds 77 <br />Spring Training Facility Revenue <br />Bonds 77 <br />Business -type Activities 80 <br />Annual Debt Service Payments — <br />Business -type Activities 80 <br />Recreational Revenue Refunding <br />Bonds, Series 2003 80 <br />Water and Sewer Revenue Refunding <br />Bonds, Series 2005 81 <br />Water and Sewer Revenue Refunding <br />Bonds, Series 2009 82 <br />Compensated Absences .83 <br />14. Provision for Closure Costs 84 <br />15. Pollution Remediation 85 <br />16. Pension Plans - <br />Florida Retirement System 86 <br />17. Other Postemployment Benefits Plan88 <br />18. Operating Leases 91 <br />19. Fund Balance 93 <br />20. Fund Balance Deficit 95 <br />21. Net Position 95 <br />22. Risk Management 96 <br />23. Commitments and Contingencies 97 <br />Litigation 97 <br />Contracts and Other <br />Commitments 97 <br />Grants 98 <br />