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Indian River County, Florida
<br />Notes To Financial Statements
<br />Year Ended September 30, 2012
<br />NOTE 13 - LONG-TERM LIABILITIES
<br />A. Changes in Long -Term Liabilities
<br />Long-term liability activity for the year ended September 30, 2012, was as follows:
<br />Beginning
<br />Balance
<br />Governmental Activities:
<br />Due
<br />Ending Within
<br />Additions Retirements Balance One Year
<br />Bonds payable:
<br />Limited General Obligation Bonds - $ 35,385,000 $ - $ 3,000,000 $ 32,385,000 $ 3,120,000
<br />Series 2006
<br />General Obligation Bonds — Series 2001 4,430,000 4,430,000
<br />Spring Training Facility Revenue Bonds -
<br />Series 2001 11,705,000 630,000 11,075,000 655,000
<br />Subtotal 51,520,000 8,060,000 43,460,000 3,775,000
<br />Add: Unamortized bonds premium 908,939 93,225 815,714
<br />Total bonds payable 52,428,939 8,153,225 44,275,714 3,775,000
<br />Other liabilities:
<br />Pollution remediation 2,569,200 43,800 2,613,000 137,003
<br />Claims payable 7,877,000 13,967,831 13,770,831 8,074,000 2,197,855
<br />Compensated absences 10,768,485 7,170,075 6,939,908 10,998,652 6,532,620
<br />Total other liabilities 21,214,685 21,181,706 20,710,739 21,685,652 8,867,478
<br />Governmental activities long-term liabilities
<br />$ 73,643,624 $ 21,181,706 $ 28,863,964 $ 65,961,366 $ 12,642,478
<br />Business -type Activities:
<br />Bonds payable:
<br />Recreational Refunding Revenue Bonds -
<br />Series 2003 $ 2,655,000 $ - $ 535,000 $ 2,120,000 $ 555,000
<br />Water & Sewer Refunding Revenue Bonds -
<br />Series 2005 20,490,000 1,480,000 19,010,000 1,530,000
<br />Series 2009 26,370,000 1,610,000 24,760,000 1,675,000
<br />Subtotal 49,515,000 3,625,000 45,890,000 3,760,000
<br />Add: Unamortized bonds premium 2,929,603 236,905 2,692,698
<br />Less: Unamortized bonds discount (22,757) (4,628) (18,129)
<br />Total bonds payable 52,421,846 3,857,277 48,564,569 3,760,000
<br />Other liabilities:
<br />Landfill closure and maintenance costs 10,016,236 497,500 10,513,736
<br />Pollution remediation
<br />Compensated absences
<br />Total other liabilities
<br />65,000
<br />821,078
<br />10,902,314
<br />56,200
<br />712,995 676,936
<br />1,210,495 733,136
<br />8,800
<br />857,137
<br />2,510
<br />644,945
<br />11,379,673 647,455
<br />Business -type activities long-term liabilities $ 63,324,160 $ 1,210,495 $ 4,590,413 $ 59,944,242 $ 4,407,455
<br />74
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