Laserfiche WebLink
Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2006 <br />NOTE 16 - FUND EQUITY <br />B. Net Assets Restricted by Enabling Legislation <br />The government -wide statement of net assets for the primary government and component unit report <br />$247,886,506 of restricted net assets, of which $60,788,391 is restricted by enabling legislation. <br />C. Reserved Fund Balances <br />The County has established certain reserves within the fund equity section of the governmental funds. <br />Reserved fund balances at September 30, 2006, consist of the following: <br />Special Revenue Funds: <br />Reserved for Advances to Other Funds: <br />Secondary Roads Construction $ 654,000 <br />Reserved for Capital Projects: <br />Secondary Roads Construction 666,667 <br />Total 1,320.667 <br />Debt Service Funds: <br />Reserved for Debt Service: <br />Land Acquisition Bonds $ 1,375,837 <br />Spring Training Facility Revenue Bonds 849,512 <br />Total 2 225 349 <br />Capital Projects Funds: <br />Reserved for Capital Projects: <br />Optional Sales Tax <br />$ 28,610,633 <br />Dodgertown Capital Reserve <br />2,212,606 <br />Gifford Road Construction <br />2,459,656 <br />Dodgertown Facility <br />259,101 <br />Subtotal <br />33,541,996 <br />Reserved for Advances to Other Funds: <br />Optional Sales Tax <br />987,105 <br />Total <br />34,529,101 <br />NOTE 17 - FUND EQUITY DEFICIT <br />The following funds had a deficit in fund balance at September 30, 2006: <br />Fund Deficit <br />Major governmental fund: <br />Federal/State Grants $ 455,991 <br />Nonmajor governmental fund: <br />Community Development Block Grant 185,484 <br />Total Deficit 641 475 <br />The deficits for these two funds will be eliminated by grant proceeds in the fiscal year 2007. <br />91 <br />