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Florida
<br /> Indtan River County,Fl da
<br /> Reconciliation of the Statement of Revenues,
<br /> Expenditures,and Changes in Fund Balances of Governmental Funds
<br /> to the Statement of Activities
<br /> For the Year Ended September 30,2009
<br /> Net chane in fund balances-total governmental funds $ 977,041
<br /> g
<br /> Amounts reported for governmental activities in the statement of activities are different because:
<br /> Governmental funds report capital outlay as expenditures. However,in the statement of
<br /> activities,the cost of those assets is allocated over their estimated useful lives as
<br /> depreciation expense.
<br /> Expenditures for capital assets 35,470,998
<br /> Less current year loss on assets (2,350,155)
<br /> Less current year depreciation (20,415,341) 12,705,502
<br /> Governmental funds do not report capital assets contributed from outside the
<br /> entity. However,those assets are recognized in the statement of net assets
<br /> and the capital contribution is recognized in the statement of activities. 5,708,460
<br /> Assets transferred from governmental funds to proprietary funds must be recognized as
<br /> a transfer out on the statement of activities. (7,452,905)
<br /> Payments of bond principal and pollution remediation costs are expenditures in the
<br /> governmental funds,but the payment reduces long-term liabilities in the statement of
<br /> net assets.
<br /> Bond principal payment 5,120,000
<br /> Bond premium payment 93,224
<br /> Pollution remediation costs 157,348 5,370,572
<br /> Changes in accrued compensated absences do not require the use of current financial
<br /> resources and,therefore,are not reported as expenditures in governmental funds. (2,874,043)
<br /> Governmental funds report interest and OPEB expenditures based on when they are paid.
<br /> The statement of activities reports these expenses as they are incurred. This is the
<br /> net number of the prior year and current year accrual.
<br /> Accrued bond interest expense 41,956
<br /> Accrued OPEB expense 9,786 51,742
<br /> Some revenues reported in the governmental funds have been recognized as revenues in
<br /> the prior fiscal year in the statement of activities. (81,200)
<br /> Internal service funds are used by management to charge the costs of insurance,fleet and
<br /> geographic information systems services to individual funds. The net costs of the
<br /> internal service funds are reported in governmental activities. 3,778,847
<br /> Governmental funds report non-exchange transactions when the applicable eligibility
<br /> requirements have been met and resources are available. However,in the statement
<br /> of activities,non-exchange transactions are recognized when the eligibility requirements
<br /> are met. This is the net number of the prior year and current year accrual. (3,137,329)
<br /> Some interest revenues reported in the statement of activities do not provide current
<br /> financial resources,therefore,are not reported as revenues in governmental funds.
<br /> This is the net number of the prior year and current year accrual. (357,256)
<br /> Change in net assets of governmental activities $ 14,689,431
<br /> The accompanying notes are an integral part of the financial statements.
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