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Y <br /> Indian River County,Florida <br /> Notes To Financial Statements <br /> Year Ended September 30, 2009 <br /> NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES—Continued <br /> C. Basis of Presentation <br /> GASB Statement 34 sets forth minimum criteria (percentage of the assets, liabilities, revenues or <br /> expenditures/expenses of either fund category and the governmental and enterprise combined) for the <br /> determination of major funds. The County has used GASB 34 minimum criteria for major fund <br /> determination and has also electively disclosed funds that either had debt outstanding or specific <br /> community focus as major funds. The nonmajor funds are combined in a column in the fund financial <br /> statements and detailed in the combining section. <br /> 1. Governmental Major Funds: <br /> General Fund—The General Fund is the general operating fund of the County. It is used to account for <br /> all financial resources, except those required to be accounted for in another fund. <br /> Impact Fees Fund — The Impact Fees Fund accounts for the receipt of various impact fees. Funds are <br /> used for the construction of roads and bridges, correctional, public safety, library, park, public building, <br /> and solid waste facilities. <br /> Secondary Roads Construction Fund — The Secondary Roads Construction Fund accounts for the <br /> expenditures of road and bridge construction. Financing is provided by collections of the local option <br /> gas tax. <br /> Transportation Fund—The Transportation Fund accounts for expenditures incurred for the maintenance <br /> and repair of County roads. Financing is provided by the 5th and 6th cent gas taxes, county gas tax and <br /> transfers from the General Fund. <br /> Emergency Services District Fund — The Emergency Services District Fund accounts for the <br /> expenditures of providing fire protection and advanced life support to the entire County. Financing is <br /> provided by ad valorem taxes. <br /> Optional Sales Tax Fund — The Optional Sales Tax Fund accounts for revenues generated by the local <br /> option one-cent sales tax and some capital grants that use the local option one-cent sales tax as <br /> matching funds. Monies are used for various capital projects. <br /> 2. Proprietary Major Funds: <br /> Solid Waste Disposal District Fund — The Solid Waste Disposal District Fund accounts for the <br /> revenues, expenses, assets and liabilities associated with the County landfill. <br /> Golf Course Fund — The Golf Course Fund accounts for the revenues, expenses, assets and liabilities <br /> associated with the Golf Course. <br /> County Utilities Fund — The County Utilities Fund accounts for the revenues, expenses, assets and <br /> liabilities associated with the County water and sewer system. <br /> 47 <br />